DISH Network (DISH) 23 Feb 232022 Q4 Earnings call transcript

Company Profile

Participants

Tim Messner	Executive Vice President & General Counsel
Erik Carlson	Chief Executive Officer
Charlie Ergen	Chairman
Paul Orban	Chief Financial Officer
John Swieringa	President and Chief Operating Officer, DISH Wireless
Dave Mayo	Executive Vice President, Network Development
Ric Prentiss	Raymond James
Phil Cusick	JPMorgan
Doug Mitchelson	Credit Suisse
John Hodulik	UBS
David Barden	BofA
Kannan Venkateshwar	Barclays
Jonathan Chaplin	New Street Research
Bryan Kraft	Deutsche Bank
Michael Rollins	Citi
John Celentano	Inside Towers

Call transcript

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Operator

Good day, and welcome to the DISH Network Corporation Q4 and Year-End 2022 Earnings Conference Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Mr. Tim Messner. Please go ahead, sir.

Tim Messner

right. All Shelley. Thanks, everyone. Good morning, joining us. for Thanks

wireless Harbors. on We and before of Development; Ergen, Safe CFO. John need today Tom Dave the Charlie I Swieringa, And President of our call Chairman; are And EVP Erik Wireless; our Corporate on our Mayo, joined Development. our Orban, Carlson, by Paul EVP we you got Network COO the start, our of we've remind side, and to then Cullen, CEO; of

During might and are factors from to affect might actual information we for from the to that subject Please the our results. responsibility differ SEC future filings. no or to updating our more which on call, our forward-looking statements, factors forward-looking make assume for refer forecast, cause risks, that materially other uncertainties results results we historical could statements

questions. generally I'm update. Erik to straight going go turn going for it to that, We're before to over to we do brief a But

Erik Carlson

Tim. Thanks,

it up and IT a outage affect servers internal we experienced quick our that's continuing Before internal we morning, for telephony. an open This to update. just questions,

DISH services and our to operate wireless Our normally, are and and running. data networks up and Sling continue

internal as and quickly of consequences as possible. analyzing systems communications, functions, some were outage care while affected the of our However, root causes sites restore to are affected the Internet We're down. any currently customer the and we work

With that, I'll open for it up questions.

Operator

[Operator Ric Instructions] Prentiss. And

open. is line Your

Ric Prentiss

James. Prentiss, it's Hey, Thanks. doing Raymond Ric you're the okay Yes. outages. Hope despite internal

I questions, if two could. Just

quarter or of year-to-date. there looked First implied seem like for wireless the is us retail Was to fourth revenue It there low catch-up? any question. unusual detailed equipment the anything kind a very given

the meaningful? together, needed business more AWS operations and should it question What's become Board, when working we an going? about about and this private to strategic the announcement how wholesale get leaving enterprise side? And with Stephen is could talking week T-Mobile, think the second networks had The joining that

Paul Orban

I'll the Paul. take is first Yes. This question.

units to downside, As hardware revenue, it relates shipped. wireless retail COGS our revenue, to was it due that's and

still that at investment -- In may and of in good has quarter, able point to network chipset be to the higher. future, a us economics You COGS in lot time. that M&O going that XG because a our we customers That's units for equipment in up XXX% upgrade is to it. obviously we'll fourth notice be get the shipped our

Charlie Ergen

the is what this first, the second of The And we expect. part on T-Mobile/AWS the is Charlie question. would announcement --

of go. is where a I think leaders going to expect that network whether networks, also necessity public you everybody going lot and a to But there's businesses, be we're do that that's to everybody get a cloud a maybe in or everybody have is into I'd and be in private cloud-based have the enterprise to for to would enterprise businesses. bit the going wireless going -- cloud, differently. little and a the business

retail enterprise reasonable for expectation there. We're players business be as unreasonable get, better low where the opposed as national four would positioned single and We wouldn't maybe networks, a starting would with be people double-digits to gross the getting XX% of us utilization -- behind for to we're decades low a to expect us. business with

player just it's enterprise, in our wireless for for not to a designed be going dominant network But designed We're is the business. retail wholesale.

architecture we'll there view from -- an of get we're think point And and today. so we leaders

and through have so -- to is your obviously, go and further then they will and because you slow got forth. it part a of that a little So what Everybody's different architect. sales the bit cycle, of flavor to question, want

relationships in think agriculture. -- whether we verticals at rural America, looking already we're smart where have think be that So

customers. already doing in whether think we're be leisure and the I of for the entertainment business, it some video

there's are then Amazon verticals those have whether or and forces that our that Dell products. it that or Cisco -- already all an sales are using that's partners be kinds of a -- So

So putting new I won't networks because going think, of their private to competitive will it be private business And force it competitors start their you're companies to do lot for what networks. own they everybody. see just without a

big that's answer. the So picture

and T-Mobile we great. I'm of said And some Obviously, you'll can from from fan from seeing out expect I'm so industry. the they customers this year. can next some in I because better. seeing think announcements that if do, do we've -- you'll that we you'll year see goes start get and a people would be a that real movement It'd revenue fan, start -- us whatever see you'll

Ric Prentiss

in And VoNR, wholesale one is cycle particular? people think or want But it the that of Voice hurdles what's do of enterprise New that more they working, see Radio nationwide something checked? or to kind box to Anything coverage? you that see wanting is sales that over to long the really

Charlie Ergen

I a bit. broke up think you up little cracking

investment, -- what's hurdle the that cycle? company It where on -- is increases. an whether productivity asked you the got they Obviously, investment. can think they I return to so a get it's really a showing sales can make

a branches to are a Where that CIOs do these productivity? you the going got through do you, are through result to investment. layers go How a of faster, CFOs get How go at they that they to make they through the of have their make and cheaper, from increased do security to it? the companies big products their lot safer? of lot as And looking -- executive

Ric Prentiss

Great. Charlie. Thanks,

Operator

Phil, your is line open.

Phil Cusick

that you population. Are today? the I said can. XX% Charlie. Hi, can you've your That started Thanks by or extend the of for will JPMorgan. fines Phil It’s this disclosure you Two to and sites complete cover Cusick, about comment in And start be to we time. for getting and you the your if XX% comes what incremental ready would June, to talk XX%? year's, if able are that? miss it XX% deadline One, to

Charlie Ergen

that. Dave let Mayo I'll Yeah. answer

Phil Cusick

Yeah.

Dave Mayo

Hi Phil, its Dave.

-- XX%. year, the end of started than optimistic yielding XX,XXX We the XX% at we're over XX,XXX greater started We've about now So talked ops. in sites about sites.

talking on quarters. the & a until X,XXX site we're Power maybe the you for the We're we've probably couple see finish & optimistic that It time we start from that about three, a been the typically number the months four you are Telco takes but XX%. Power have, construction, Telco. risks at of pace sites get month we'll that two that

Charlie Ergen

bottom-line… So

Phil Cusick

Yeah.

Just sure… to make

Charlie Ergen

… bottom-line …

Phil Cusick

Yeah.

Charlie Ergen

beat fines. XX%. clear. me paying don't We're expect be Let to to be to track We

Phil Cusick

And wanted you everybody -- I opportunity to does that, just that to the give out. know automatically go let okay.

Charlie Ergen

but spiking disclosure is don't bottom-line is on but see on XX%. the track and we fines. we're track, the football, I we're for expect confusing, We're why not

Phil Cusick

can do well, And a you. ask launch Infinite this it Thank of does I what as take at wider point? to Boost

Charlie Ergen

that a we're turn But have paths. to XX% network, John. -- One I'll where over to data. to two cover answer build we're the that's the FCC is that So we right? briefly going covering data, in requirements maybe of for and going POPs

run the XG not we The XG, problem of we're that launch to voice, into around carry have we've for commercial rest it, strategic and made or legacy need -- XG, and for do that right? all, voice that doing the and call we are our banner. voice life, is of that We XG

voice let's saying, that about industry. term and best long thinking we're the have 'Look, the in So

working many are couple a Let's T-Mobile that. are Obviously, companies working has of on go launched The that. with XG there -- Chinese voice.' markets. are on That was

-- you the technical And United little as has the so That -- got bit biggest But a John now of United know, the XG and we give we've we're now that largest ended largest the voice will real as and States. of far company we've detail that challenges. time one that. up was the our probably work more on -- in --

to and that our the us helped there. without world And of them. we're there the vendors wouldn't kind We very Mavenirs of have got get thankful

out we kind but And to we're of those so got now that -- fast we as starting can, -- we've hurdles. as over roll

But that's need we commercial for what launch.

that to John? dense network network, a going it. It we be than to to to little get the voice say six six-month what voice happens very six-month because fully be it's you're able data we optimize a lag have I'm going do from a XG could to to So to is, do tricky. months. time very have you a time that the lag. to But that. do less And see

John Swieringa

really Yeah. There's, things Thanks. We need key as Hi, everybody. Dave need It's accomplish. to the three John. Charlie, points. major a talked number hit the get of XX%, about. we to

the and running We need which postpaid we and TSA our the complete get quarter. expect T-Mobile, of second expanding. end then, And need to our up exit business to to by we with

customers Mobile happy markets POPs, network get the and We the closely early progress how programs. with where performance Bonner. did access Boost launch onto We're that network. XX and today do starting with our riding have onto It's million XX big the loading alongside devices we're we're XG of network the Boost network. We going, with is to Infinite

So to Apple starting a perspective. Apple obviously recently, network from for work we're share get devices with now way Boost. for a onto Dish important is Motorola sort and XG Samsung And cleans loading of that postpaid the and Apple-certified. most very market

we're So on that. hard working

get name markets beat markets. includes a momentum, us commercial Houston, to to devices our per MVNO onto hope Las We full XX we but We gas the and Infinite, network do expect be is to in certainly with expect we And Cleveland million which build like quarter, able few. as do we really an our by that. when hit coverage, increase moving our see Vegas, then to today to Dallas, you'll about XX% get increase can that Bonner POPs to

with and and own We like make with support. like see in partners input to of teams are half our a that in marketing we steam postpaid. market boost getting and economics, we're our to many the full happen. tremendous our better making you'll the owners' start go it more support in We of the from key year, and But here that first happen, advertising

Charlie Ergen

is down way, should profitable a bit it's many world. as In or the a being finance customer else your to than you I've postpaid, as as up, the with than in former probably postpaid. it a are upside more Everywhere this customer. than not since By prepaid And guys, little said prepaid less postpaid the many competitive upside a is prepaid marketplace me competitive expensive postpaid as that bit financial a in most the so more be, guys down. competitive world, materially is actually times the of

of with we're personally, long side. So, time of really -- enter States. can end -- million, equally able to the about a say to coming able postpaid XX% of the to believe, more market. be a by scale lucrative you And Ting to but start part starts XX be we'll the something consumer enterprise to have interesting where That's on with be I -- year, the United but started size the side to this for -- will business the -- we the you the us was. scale, us, small starts Sprint wireless That or to be us. not for been lucrative now we're it at excited the for has That's even of

Phil Cusick

Thank you, again.

Operator

Mitchelson. comes next Your from question Doug

comes Your from Doug Credit next with question Mitchelson Suisse.

Charlie Ergen

Operator, we’ll move on.

Doug Mitchelson

you me? here. Can sorry, hear I'm I'm

Charlie Ergen

Yes, hi Doug.

Doug Mitchelson

that, about system. Sorry interesting

guess first needs thinking question, your financing broader just I next strategy few Charlie, the years. in So, about and I'm

buying So of for rethinking buckets in think three to out your wireless follow-up. over I potentially a of you your And to -- And those to you're is and clarity And T-Mobile guess issue, how three and I've kind things. then latest got I'm as they pricing about needs. about bond need have would helpful. I need that missing invest be latest XX.XX% anything as bonds, financing the think existing roll DISH, any spectrum thoughts anything?

Charlie Ergen

marketplace deal we Bond table picture for the the Big get we went we Doug. off before first we early Sure, a at in overhang bet the we Yes. little to took sure and the of the look that make out probably -- and year. is, But too build into. obviously, hindsight, that and where certainty wanted the our

hand But DBS, March better. XX. -- we to so we due our this on -- pay Paul, a We with DBS have answer can on a from DBS payment And obviously, maybe bit intend -- that bond with cash but there. at little

think then generate flow. their the and continue and Network cash the look finance They at I with some Co And is wireless look at looking there to March. good that business. we're in of future a we maturities we'll flow, at about to next year hurdle cash retail, -- the in obviously, convert their first And

equity an with it to year, think we'll I next hopefully is look component. refinance and that

we've that -- not said XXX that. I there's think build-out that's about megahertz, There publicly, are built you developments a cost, a Obviously, incremental have. a positive we frequency out, the to build-out not there. talked It's for so that's nice costs must-have.

We're for sacrifice So there's some suicidal. not some there. going to gains. opportunity short-term But not we're balance sheet

the understand way that you we had we vu in our So, it out generate same timely Street a in but future, we for we needs manner have kinks. to to launched back lot satellite, it. to guys start cash, the the so time going capital start we're to we to up and our and just two got network make a had DBS the position. make those of period can It's in -- a when will work exactly where that me in business going work deja a And once is relate marry and of the

to we're for able on us always time long-term it back the -- to cash best And of in customer. a you put pre-marketing cash. slot alter do once a generate I got you started there $X like early used and it flow. a $X machine, lot But get it say But metric every that, interesting, was to was

period $X fast So enough. back $X I got a you mean in, couldn't you the but years. put you over go of

So, to up situation a very scale. comes our as we're in Network similar

Doug Mitchelson

It's in lead my... right

Charlie Ergen

place enterprise before that we you to But that's to add business -- a the which that's place going are internally, to go. we that's we have know the And obviously. Street, in prove know people a

Doug Mitchelson

launch? material really on since a already side, start? you've right the that follow-up, does a in expect should when kick-in? later which to retail leads year, this XXXX And we addressed broad of enterprise, When is event? subscribers? Is into that ramp that Does When kind does that my post that

Charlie Ergen

define a some you You'll XX% see coverage. you with -- numbers, material as but have going see ramp scale, won't when to start I seeing voice you're which

to So our optimize. again, six build-out, given take from months build-out

scale end gets that that to network. XX% to optimized, -- not then things to have and market the going you do It national you it. prior to year and things that add to we're our mean by people can we're do put not So of that doesn't subscribers you this going like because on

We will.

example, I'll small the the in hockey return. of return the And give we're it good you just we a have scale a business, we business, But invest on capital. prepaid terms invest you when big stick, we on if -- starts of business, an $X And postpaid steward a in it. prepaid but if get $X we in the get

we're saving for It's postpaid fully doesn't understand yet. and So your that business, the a fault. that's pivot probably market not obviously capital the

haven't explained to out We you. and gone it

long-term add of going you're And you're But the see to makes that's going before pivot in difference to that that, see year, a and a world this financial that you stuff. that's enterprise.

of it able if So you credit for to you'll you enterprise, can be credit a postpaid. see assuming see the business the ultimately obviously, our customers that prepaid you get no us return generate that fair can path, gave continue you'll over the from share enterprise, in a to we for priority continue zero if and on postpaid on give just us not just postpaid capital as consumer,

Doug Mitchelson

Got you, it. Thank John

Operator

next James Your Ratcliffe from question [ph]. comes

Unidentified Analyst

of value it's to If in noticed back increase option? I of and drove going also assessment T-Mobile talk I you exercise the what wrote XQ probability. and nice you up XXX both the in could, the Thanks. to megahertz, said to you to values increased about increased the attributed have. probability Can Hi. the option option

Charlie Ergen

that that's things the can why about say, frequency, have and been I up probability that all that's so forth. and so can there's there only and positive went around I -- say that

Unidentified Analyst

to essentially, more So own? spectrum became that appealing

Charlie Ergen

It I terms there's said return in positive -- developments a that spectrum. of on

Paul Orban

the This on to is probability jump comment would just there. we which Paul. things I'll exercise there. obviously there's in is leads going has Yes. happened increased, that that Charlie's What positive

Unidentified Analyst

you. Thank Great.

Operator

Hodulik. John question comes next Your from

John Hodulik

a I Maybe Thanks. could. of questions couple if follow-up

all, the higher the seen a wireless with I've EBITDA as to pivot market? go after launch of of the So here the the that you mean EBITDA, in timing postpaid the XX% bit. after more go first of further postpaid losses terms as market the ramp the voice sort it sort the Does or to that sort of from it does both? EBITDA you come timing, then And of substantially is is or coverage ramp iPhone I Charlie, market? of losses tied certification, Thanks.

Charlie Ergen

that, FCC broader but me you to that let's XX% is of can is an didn't COVID have of times back have people our The focus do the little and hit taking conversation, chain I milestone, during get of right? to takes that maybe management a a to a ask ask with off supply unbelievable I part That takes focus that the the answer start. didn't any on and standing table. we from bit out focus question a -- the even as spectrum something we terms, lot chance the let in follow-up. shortages today it's hear It effort and

real it -- really in cap. do it's would to So feather that. a our We'd be proud be

So focus. that's the

has second been get to focus off. The

all internal. didn't to system, time OSS/BSS and and for TSA of important and mentioned, effort own and migration, and something those have is this a that to but on from get Street we over, that we've do, lot everything to operating to a as nonetheless, systems, We're the us John As CDMA big it. customers as not focus do migrate which internal got takes difficult it the We've probably focus that's our two got then on. our is to own T-Mobile

got So that, to we get done.

of things to before are done So the the two quarter. end get those next big

partner you we and we'd obviously, point, do they'd trusted your postpaid Apple like But do is kind the been or able prepaid of haven't for maybe to us us. in important -- things that then to a like to world, And business. doing

hard phones postpaid customer $X,XXX different that in world, to issue. sell But -- has just it's You to the that's obviously no credit. a

both at them. have we're on scale XX environment when extent the to -- yes, it and certified comes I to of game postpaid -- So close pretty started arrangement get can network excited I a us, you for for got and that's a and think right? think that's And it Apple is the to us your that in that get productive we a with business changer a point, with you out put

we that not So But a a to the things we work were focus Mavenir feel couple on And quarter, have gives we you big We in yet. now that's of Samsung last our because done able network. for get it that of things. have some to on. and

So have we works. ORAN that two prove vendors

We on for that third all have that should radios, two Samsung, The we've in phones pretty vendors be both vendor Motorola have completed -- bands that -- test our the work our on for network. that soon. world and got now, a and

investor. every So numbers in not we're in seeing up at the as going point, the showing you're of will day. making somebody start see probably But get glad lot seeing an numbers real beginnings up show be next then of yet, that -- quarter. then not It's to progress to And scale, a to start going we it, the you'll they're that. you'll

John Hodulik

Got it. the And just

Erik Carlso

from SAC your a John, costly I question, prepaid. more postpaid to first perspective are think

less. earlier, will subsidizing postpaid, alluded to up Charlie end As

subscribers. So a cheaper when add it should be we those costs acquisition

Charles Ergen

higher. will probably se be per SAC

Paul Orban

the lower. Yeah. subsidy will But be

Charles Ergen

-- -- SAC lower. is that ARPU much churn

least plus you in seeing -- at the and just the we're industry churn postpaid postpaid today, and we're is again, So X% and to in seeing real world X% prepaid. in got

postpaid turn But can feel prepaid that six, for a -- would you one off customer you X a is times So it if it. could anyway, that a look, goes. I four. where customer worth It you be could that But there. when I is. could be gives say by see be --

John Hodulik

quarter? where that just sort of capture after opportunity are we go as off. expect I in from mean EBITDA -- the fourth And should but you we that I exiting here losses For an sure. finish the guess opportunity, postpaid uptick to to

Charles Ergen

so. obviously long-term look flow. hope we look we at I EBITDA, at at but we look And cash --

So EBITDA force. It's about is driving our not all cash.

So to be we doing would it assuming were would nice problem -- have, a it we efficiently.

John Hodulik

Thanks it. Got guys.

Operator

from next Your Barden. comes question David

David Barden

BofA. I guys. It’s Dave couple from guess Hi, Thanks. ones. a of Barden

on and exists the XXX question But of item, the of have. look a spend housekeeping of option, sell happening a the someone to kind rather value option spectrum are opportunity to rerating to entry and $X.X DISH for behalf, vehicle this around good heart Just to as maybe executed of or with that getting than if funding things point maybe at wondering might already the we is people megahertz. of the that that else billion the on you someone's

would could question second The be... if I

Charlie Ergen

there. you stop I'll

David Barden

Okay.

Charlie Ergen

But can would I economic we're that, that to going we're that to do do option, then on make that sense, the we anything make comment just clear sense. not it right? doesn't anything economic But your going it's and not that ask question doesn't make right? you value

could -- downside in you only no downside no right? So in option. There's nothing, upside. doing that There's that -- there's

If something way something was might know do all you different then only suicidal, it it's you're the a do positive. that anything, at story. if costs, you only would strategy a Obviously, you accretive, if be your was do don't

David Barden

if And Enough. I could two Fair maybe just follow-ups.

think to maybe, bit the emerge you led other this I space remark with a Charlie, you And earlier. But tell that, think relationship? an kind offhand hyperscalers? private maybe little the made in there that the just did about Amazon/T-Mobile or you happen like the about could you maybe us network that So of relationships that XG didn't think could whether are that development process

who's Verizon, money for May. out game a in March, to billion than revenue be which just talking create would anyone, there, about put into -- who being and growth the a of my $XXX plan About Charlie, in you'll laid related game scalable skin you the ago opportunities. keep once return threshold that scale get then has to multiyear And year more getting through gatekeeper, you this, of kind the question in last the

kind did the You same thing. of

player, the keys most really to the year, Over wasn't back the doors scale nearly had large course has skilled And decided opportunity to out that, market, of expectations. they guys I'm understand you to when nothing's view seems interested you of not view. changed the of players process. like kind have kind why have from think as you there thought of that again, people's last May all changed in thought Thanks. the it in Verizon, revisited as presumably that and kind other of the had their

Charlie Ergen

Yes. modern down again, say have the to Again, network RAN based Open boils the it That's we on versus a cloud it XG Netflix in I'll That's smart principles. blockbuster. -- again.

So thought can't you oh, We was just a OTT it. to thing, big scaling but you're back do we think you're because not we're going a streaming. if it say, it blockbuster,

You Netflix, you stores, the modern can't you're well, with if we it say, network. do have But right?

We our time to And prove have skeptical cheaper. business took It some very it the hard cheaper. of modern technology. pretty But different. better, faster, them concept. early was It time. is to And them to you're And it's faster, if architected going took it's better, network the Street Netflix cheaper. be in on. was faster, better, fail Wall

doing. But you're spend -- it's call. RAN So Open don't on this readily things want of the we're see understandable a that's not on of it lot something time I to and going it the kind starting to skepticism to be of it's because

Europe a from players all white from yesterday. the paper the -- big saw just You in

legacy. verbatim architecture. articulated almost And and articulated verbatim, everything almost [indiscernible] we one They they They DISH's said. have

they're -- their areas legacy more starting start, right? all it's you do it. negative is So anchor So But rural neck. is a to have nice an in for legacy around scale. that They

to execute. the to we you obviously, to And so that's execute, opportunity And that have we what we and have have there an extent prove.

they the great And us. exclusive a a obviously, and we're not around the the providers Amazon. that and expect course the architecture us. now They're not T-Mobile got telcos or to cloud. this people Amazon up to They've would believes in so partner. we the exclusive helped world. because an more will to lot, us everybody -- think I many They've putting in with investment into everybody cloud then they're run perhaps go sell helped And -- almost Amazon sign again, can Amazon, been that and other

they're that is get leads going to compute think everybody of a and I precursor at -- And to that And private to that's going networks. of to some those -- kind look edge the things.

And maybe that that as don't I think the it I so deal, you exact need networks more as at make but merrier at I -- something Street looked need because to negative between scales. to guess it the private a that's sure -- know think the I least comes when far the you competition companies

David Barden

Thank Charlie. enough, you. Fair

Operator

Your next question comes from Kannan.

Kannan Venkateshwar

it exercise. business mentioned Venkateshwar more or the towards may of an Hi. end a from a you megahertz from retail the choose sounds in This next XXX perspective, is funding the scaling can then from obviously, Kannan happen year Charlie, to perspective, scaling the And like Barclays. is option you terms year. of choose not or

and some for choice you by go funding to way less how you. expect don't discretionary mean to retail. need funding? I raise really that secondly, capital this in for business, more should And mean ways, a order in done capital with you're year, Does want more more It we to or or depends of on is fast build any you

there. the the And to network function scaling is And going of once get country thoughts raise, scale essentially it funding a so up Is you're would the independent running? you your that? on to is of XX% Thanks. it can and the to or love of

Charlie Ergen

everything second objectives, is The don't short complicated is intertwined, right? our we The need answer everything because meet is part to a year interrelated. raise little this to business capital more is

I'd say and So extent invest and way. plans it and you they it. smart, they'll understand in to good good -- business the Investors are management this

we good bad would extent the we it that the sense, I that And probably because and and and plan faster have that, available. to the be need to extent plans have you To think to to a would do go that and need execution to extent raise to the think makes not. so extent I management, capital good -- it you bad you then

know. We We're we're to we're know to I hard don't -- the part. we're the think learn. lot know we So, have But part a making not but through confident. I lot arrogant, through hardest of we mistakes, but a

Kannan Venkateshwar

And scaling of all might the to gradually component, the it doing anything I extend this choose years? what on mean, more couple you maybe the maybe extent over country service it. next year versus to the Got throughout

Charlie Ergen

It's a question. good

the the will will postpaid that throughout extend ride network. T-Mobile's some country We or be will on through on whole AT&T's the year. Obviously, – country this that

So, us, will but that's us not which but economical give we nationwide as -- will scale, important. is it for

we prepaid not So, as own them customer AT&T on more profitable as customer or on it's a profitable put network. by is our a far, but T-Mobile put to than

question, will So that. your you we'll play imagine To can postpaid. nationwide how answer we be on

Kannan Venkateshwar

Charlie. you, Thank

Operator

question from Your Chaplin. Jonathan comes next

Jonathan Chaplin

Charlie. I'm us earlier couple wireless the of and on surprised we prospect give haven't yet. A an comments may. spin update an a DBS if given actually of DBS. questions announcement can Hi, wondering the you I'm that if I seen on deal

before like meet objectives raise then don't so, what that capital to refinancing, mentioned you up interest. aside XXXX the things leaving might need objectives. obviously, this you that and to wondering business capital need So, Do deal business to be that? seems convert year you in raise And to of holding that everybody's meet sort March

Charlie Ergen

we on would before what would to have part, I we raise today, second The March see say capital XXXX. based

report I a I've think Obviously, deal. have that it there that, we haven't question I've felt changed always about DBS said on was today. but opinion my to nothing was inevitable. I

the obviously, case. our business. our on looks to a of make of opportunities. team side separate On from things. wholesale can certainly those is, and wireless track apart and with same wireless I business Erik Sling, lot of Board of the what the potential retail It -- you and and mean, There's the at It's lot does side different customers kinds a DBS daily lot a spin, his with do the

strategic potentially So sense but make nothing may today. there to are things announce there, that

Jonathan Chaplin

Charlie. Great. Thanks,

Operator

from question next Bryan Your comes Kraft.

Bryan Kraft

Deutsche Hi. Kraft It's Bryan from Bank.

to on about DISH the slower connection Bye you're his lot you demand earlier, pace are decided If adoption a at As you than Stephen Enterprise. there's Many there question share Thank and enterprise there's alluded as a of Dave asking anything of Can lately going investors Who's leading expected the sales now? role management about talk as to between you. and why can what's leave maybe, XG question in of Barden that? that among whether been perspective? effort just some leaving enterprises. lastly, to the discussion how Stephen from Head on managing his

Charlie Ergen

CEO a would get right? I Stephen, he's a company. qualified for But that. can't our of think he be to speak opportunity Stephen Yeah. important. And remains I well the on but for Board, take he And did an obviously, call,

probably were in personally and reflect that more we badly I of concern a that think was don't -- big private I think anything are isn't there -- that. optimistic kind any anything, or think think that we don't don't think the I anything, I than -- ago his he business year a reflect would if leaving on if business. enterprise that I

So -- because, feel call free him. just him speak can't I for but to

Bryan Kraft

he's talk -- talk And leadership that you the effort now you Can the there, that. thank how now? you can just for that business role? in And sales who's managing about no you're longer Sure. leading

Charlie Ergen

take Do that, John? you want to

John Swieringa

It's a Wireless our Hi. Swieringa. years. inside been lot Yeah. the we've of DISH talent four for There's now. John building team Look, last

it's So I one person. don't about think any

momentum echo And several the is And picking senior I'm team. Charlie's calling of a think up members our number enterprise of management personally to customers our on as comments. I

that's having up year. doing. think And discussions We're be of that we next pick business good with what a big really And we'd start to expect some to said earlier, busy I be we seeing companies. of really lot

advantage take at operating and Job really the eye and But to network there's, about is ball, that in looking scale. one off the up a lot other at -- can of XG getting we're first, need there. opportunities and not of. pipeline focus our sequencing. confused. the take And network get I can there's it's things of up And we then We running lots the

Charlie Ergen

question community … more from take will we the Operator, one analyst

Bryan Kraft

you. Yeah. Thank

Charlie Ergen

before the …Operator, from one we more to analyst community move media.

Operator

[Operator from call Okay. analyst coming our Instructions] Perfect. Michael the final from is Rollins. And

Michael Rollins

and follow-up. question quick a a Thanks,

wholesale for terms seeing the deals, capacity you're side the anchor of are of So the large sign you the wholesale what of some to business, in potential terms XG in building?

you position side, different than put prime to you there acquiring reach are outlined certain the DISH these commercial what potentially that for retail need on in to And a milestones order in wholesale opportunities?

then, does Thanks. current At And you're in from month. pace or point decelerate what on the follow-up of either per network, accelerate a the on this sites or just quick I the X,XXX that just future, change building was starting as curious, level? X,XXX pace

Charlie Ergen

Yeah. Hi. Charlie. This is

question think we we've the because enterprise to we that's be part of for got number is needed -- and into what you do we've do. of properly to that answered but private side or of the right? part I get only before from already foresaw the properly, we that business, ChatGPT believe as what doing, architecture an times, positioned, things of we're a that which like network required side your a first AI able positive to And we're

of start the up Scale regional today. are opportunities will a on now XX% and country reaching more some conversations lot only matter, will a because basis opening

is that having we're one to but of that's doing. thing the So change what missing, not we're probably the architecture

a business Lyft the forth. positive or going thing So out to sign because who I competition positioned signs deal an be of is, ultimately, your it signs be going Uber it's deal, a so to we're if And a if as does network and of think has to just example. -- already deals, then private regardless

part. And on -- then the that was the part? that's So what second

Michael Rollins

equation. Charlie, I'm side the of talking more the wholesale about

whether wholesale big be could someone like partner using cable as a relationship, an like company their it Internet or MVNO a you company. So

capacity national to someone So you meet wholesale whatever strategy. for using

Charlie Ergen

to to in answer we happen. have we'd -- Same Yes. have network, two because have have things the and scale

We have year. this to of one, the And we're of on to by half the end be we year off second June. scale, focus focused TSA of the have on for again, Again, from T-Mobile. by the which, end have our first

a think have really be I enterprise that's but well. similar we opportunity wholesale Then perspective, might what interested neat a platform very the for is from who to as people

sales. that, for And will Dave's what that XX%, him, month that the at I'm there's think X,XXX -- -- In second on optimize that be talking, point, -- to decline. hit a the I his once will but focus focus we words, I then think I the talk other shouldn't since will we -- network within be small -- we'll And a be less it be run be dead well, that markets if X,XXX as rate. we find There'll lot we a stuff focus fill-in are towers, probably but There and traffic new on spot. some get still the that have the network will some will than

Michael Rollins

Thank you.

Operator

Mike Dano question from comes [ph]. Your next

Unidentified Analyst

owner does of the of have service that throughout the my And you going question. I Thanks questions. kind now? Hopefully, how separate commercial me okay. taking year. be DISH -- voice that is Yes. expanded? can this of of had I can the do to the rest is rest how does going One launch that like and year? launch to you network the running of how mean up work hear And how you just network rest two this is, for work explain the

services. there's satellite that ownership particularly just of you Thank that EchoStar. that, your satellite And are, is opportunity, thoughts are the you. about companies And then wondered about talk my the of I given offering phone could lot if to a second question what

John Swieringa

for pass first This then is part it and the to Charlie John. I'll take second. the

the a on made comments earlier few So I in call. this

sites of all the subset all, commercial of And market as honor. for to XG providing now our tune of market-by-market we're those, a on-air are First going broadband.

As on handsets XG that are with that commercial well. said and we Boost through we network I earlier, of now pretty available honor, DISH as going run our Mobile view that have

we're fill-in from we the we markets look of be can each every new last When that we through so every load services achieve market that we basically And network. devices, as So up markets week. at those handsets honor to those that and happens, sometimes the commercial optimization with markets that doing going our going and are work year, really the with on XX% and marketing KPIs. start launching -- we

hope the we've year. digitally increase in and commercial adding us said market and quarter, provide available earlier. indirect devices time every those our million we're that. work really we And see speed XX% as as do throughout of And But by distribution starting a us doing see Boost Infinite. honor bit then expect Mobile to next have and you'll as we'd areas, Boost services And really POP picking there earlier, the to prepare we throughout about to by And marketing I that to beat up footprint, this to XX% our we expect said customers. with those year, quite to XX that you'd footprint certainly

Charles Ergen

future of company. look -- companies really understand telco we're we Charlie. together, But on this you or now then be question to the And well, the well, we the unique understand really going sister we're video the the handset it might device, we obviously, satellites -- really good EchoStar is obviously, On two a call. two between to companies, satellite it's same all at and common that, understand ownership their to conference really ask in within when well,

rulemaking a we to playing there's companies they have are satellite to play handset. be big in positioned going -- they some a to rules well that that number They believe market are we're half There's category. well that or The pick and with FCC a for So -- a to that that. it do dozen a, But that see -- there's going around do of they'll will for want announced to positioned. when interesting. is a we're losers winners

amount own today, satellite in of North doing -- both America a and spectrum Europe. and Europe both States. spectrum to fair handset We the We in United some are

network you don't you way -- telco, have clear understanding result that, of of those happen in know a satellites, technical a might as we two the to very things, you And that each positive development if the that but make challenges a before. know big relates NTN And that have other. been the there is to now married has or that that standard there has satellite never to make XGPP things an non-terrestrial standard those

handsets with the so can devices there that that XX, something can Release so manufacturers to make in chipset standard and satellites. that a So now, is operate

there'll of that system. one players certainly number number room I play a there. will fail, players will good and So be there's for will really think There a be really, of that

Unidentified Analyst

you. Thank Okay.

Operator

Your [ph]. next question comes Maney from Amy

Unidentified Analyst

the odd asking like man we feel expect video Tegna? probably General blackout, a the question. on weighs resolution the in any But not and Hi, before there. out Cox Standard FCC Media I should

Erik Carlson

really going is a on such it Yes, this an with talked we're so that perspective we of those don't is Amy, side, up economic-focused. -- cost the you call on higher the from any Cox, discussions is about Cox. But situation for with feel we're I talked mean, Erik. like outlier, are before, rate open retrans we've we things as of Obviously, the than about as wireless like And programming. one

benefits And our so not. I have and rather we look up to mean stations customers, being the at the the the content all things we'd Cox than considered. of cost

But at some economic for point, us. it doesn't make sense

middle the has unfortunately decided that to And in of our negotiation, caught put Cox it. we're and customers piece so particular in of

this tell or time, certainly announce resolution. reach we've But would. I can't we so that any we will we with and And if when But relationship, can't Cox. decent I hope you had a resolution a at

Charlie Ergen

to is a have this acquisition Charlie. the of their on One and obviously FCC to Tegna dispute -- and side. played couple just get particular that this trying And power that the may look form at. obviously, is is for have they things. and really I'd But add already into something

money any more the now gets for The the because TV that We've satellite. know on customers more We company linear networks watch. is trends local what real I have local that watch, OTT our We we that the rational path not feel having fact regional going are both they years. service. -- high But broadcasters, what them of cost make we'll and for seen they it's the the know sports so by XX where absolutely the -- statistics. fact

watched cutting following show continuing the broadcasters are producing going shows drama they're OTT. on to -- to customers and they stuff might are themselves are And somewhere Customers and high-value are them else that content, there. have so not back the and it the

many of NBC watch the the so former objection and said right? he ago, of President And years old programming, go And that's least true. that people

the to the of going to mainstay professional number a networks. mainstay are customers find alternatives And available today. they our is have, football, so readily one probably sources is the which to even of And

the retrans to yet. up. step pay, in they the down, have not got haven't is And broadcasters a they memo next and have and debt budget, So the

to because news, to shows you customer, going they to they they -- now and used think they coming I a drama their just they're think time you're see them. more I So back are people just to those back -- to could come lose local Cox every those are not not watching.. But back channels, coming

Erik Carlson

BBC…

Charlie Ergen

other Something they've on got wanted and Netflix customer that left is that show, not DISH. the back. HBO us the hooked some or from any Cox fact of and on matter just they're coming is And

up. So back a put them if it's we tax, now

-- that's between it the it's sports a said because caught local are shame, the the and the broadcasters going. it where a saying network that's vice about in That's So And now. I regional distributors. I'm

return. get their a be don't we a bank plight, some return. right we So, get we but And have for unless cannot now, we empathy their

Unidentified Analyst

leverage throw way or fees some comes more. launched affiliate channels channels? free Sling you this service. just for I I can one know in If just when FAST it retrans as see stream do a that mean for I to

Erik Carlson

on bit retrans. And you I as the being have is of. from lag. necessarily likely around really. not different FAST OTT see But It's Sling much it's But we customers sports as obviously, Sling, that, customers don't things on you're lumps there I know, easy that Amy, are seasonal. that mean as certain a mean, aware I leveraged for -- regional

our can And folks easy kind And us trying experience. customers out we're and watch in right? so, stream it's because to great folks be in it it for come for have it TV -- launch, very and Sling a free keeps easy. And is to to seamless make so, of ecosystem,

gotten just it's Unfortunately, TV. TV. love still hard to watch Folks

and without pay customers have pickup ecosystem of to course helps want over football our channel on a the some and come basketball. may stream free entertainment for so FAST Sling college to for then And that general four back months

And offering, just was or it's with you for offerings, it so cetera. AMC+ easy have for a Plus, an us. along customers our to very makes of buy -- where kind et Sling can FAST Discovery And direct-to-consumer it sense our

see I that obviously, So, necessarily impacting content more retrans see content Cox there's the -- is, to where don't I less. and it watch,

elsewhere, makes find so, go linear news And when and you said, and much really you so that TV don't don't back, Charlie harder. your down it it local as goes and miss you Cox

Charlie Ergen

Charlie. is this Amy, And

We against Cox. leverage have no

local There We us, has the excitement And other broadcasters. their generates saying that monopolies markets. there. no Super places no NFL Cox is can There's There to the many want consumer leverage. anymore. which go any you leverage absolute raise absent But are out is the And programming football, so do to in so just places. have in not leverage. are there much Bowl. have They we we many not There are price. consumer available now content in is our widely against no network that much or

Erik Carlson

Or that type of stickiness.

Charlie Ergen

Or that kind stickiness. of

So rare. it's

We'll And the newspaper and probably tight few the But time. they're to news take So, newspaper. continue my for I is of -- the your newspapers fact the a on matter people this we're that them. which price I'm is I'm tomorrow, there's newspaper raise it's question. okay. the newspaper, if the Operator, one a don't media now. I my decade, read read you I of the of little elsewhere lost last get

Operator

And Okay. from John is last our Celentano. question coming

John Celentano

a questions Thanks breaking that versus true you Celentano that I when And forward? It's or And XG the subscriber numbers, time. just Towers. will MVNO numbers John this be Charlie, Inside your hosting for going clarification no question taking happen? of prepaid might wanted out

Charlie Ergen

I'll for that. guess, I all at look Yeah.

Paul Orban

a do we'll no that we and premature intention now. have at probably we so. right no take things right that now little have plans progress as But do consider it. Well, look It's to a to

John Celentano

but look forward help, would it we you. Well, to Okay. that. Thank

Charlie Ergen

joining. All you, for right. everyone, operator. Thank it, Appreciate

Operator

You're participation. your this you concludes for welcome. Thank And today's call.

may You disconnect. now

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