DISH Network CORP

ir.dish.com

What Do They Do?

Sells satellite and streaming television and wireless services to consumers, and broadcast services to other pay-TV providers.

How Do They Make Money?

Television subscribers are billed monthly for service; prepaid wireless subscribers pay ahead by the month, while postpaid subscribers pay after service. The company also sells receivers and wireless devices, with sales counted when the customer or distribution partner receives the product.

FY2024 revenue by product or service revenue

Segment	Share	Revenue
Service revenue	96% FY2021: 95%
Equipment sales and other revenue	3.7% FY2021: 5.3%

Who Are Their Customers?

Consumers subscribe to satellite and streaming television and wireless plans; wireless plans and devices are sold through company websites, third-party retailers and online marketplaces. DISH also sells equipment and provides broadcast services to other pay-TV providers.

Do Revenues Turn Into Profits?

No. It lost $62.7M in FY2024.

Operating income, FY2024

−1% of revenue

▼ Now a loss vs FY2023 ($175.3M, 1%)

Net income, FY2024

0% of revenue

▼ −94% (Loss) vs FY2023 (−$1.1B, −7%)

Free cash flow, FY2024

−4% of revenue

▼ −35% (Loss) vs FY2023 (−$831.8M, −5%)

How Are They Changing?

Since the FY2024 annual report

Latest quarter: Q3 FY2025, the three months to Sep 30, 2025

Revenue: ▼ −7%; vs $3.5B in Q3 FY2024
Net income: ▲ +5823% (Loss); vs −$210.5M in Q3 FY2024

Service revenue share of revenue vs 96.2% in Q3 FY2024

Aug 26, 2025 EchoStar agreed to sell spectrum and make Boost Mobile a hybrid network operator AT&T would provide primary connectivity, while Boost Mobile subscribers would retain access to T-Mobile's network.

Flat. Revenue was $14.3B in FY2024, about the same as the $15.5B of FY2020.

Activating subscribers on its own network The older report describes wireless service operating on other networks while the company builds its own network. The latest report says it is activating Boost Mobile subscribers onto its own network in markets where service is available, while still relying on outside networks for some service.

Revenue over time

Service revenue Equipment sales and other revenue

$20B$10B$0

FY2020 FY2021 FY2022 FY2023 FY2024

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