SATS - Earnings call transcript Q2 2022

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Operator

Good day, and thank you for standing by. Welcome to the EchoStar Corporation Conference Call for Second Quarter 2022 Results. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Terry Brown. Please go ahead.

Terry Brown

thanks for and quarter our operator, call. earnings you, to joining everybody second Thank by our of Hamid David today Secretary. joined I'm Akhavan, and Manson, Counsel Pradman Dean Rayner, CEO CFO; Kaul, and President Hughes; General and COO President; and

media in we in participate your call report. invite on identify participants a you ask that As not mode or the to usual, listen-only and their firms

you do We recording, respect. that allow ask not also we which

disclosure. me for harbor Let turn the over the Dean to now call safe

Dean Manson

to All make to forward-looking the we call, harbor of than Terry. involve this you, constitute uncertainties Thank XXXX. forward-looking historical by unknown risks, from fact, known statements statements Act statements future other that results during Private Litigation provided and and of statements the Reform from historical These could expressed Securities and pursuant the materially made safe actual by be or implied any different factors forward-looking results results statements. other cause our

For on any call please a statements XX, on list of our the we our February cautionary ended with SEC. understood statements XX, during they XX-K being subsequent XXXX, as All the Form wherever annual make we December filed the and be risks, to year to appear. refer made for filings should those applicable factors and make report forward-looking

I'll undue statements. carefully should forward-looking forward-looking on reliance statements. Hamid. any turn and consider for We over place updating to You the no not risks reports described the our should assume responsibility call in now

Hamid Akhavan

you, and everyone. day, Thank Dean, good

thank is future. served his well for the to to its the decided to to has Officer underway. him in Dave his him our already Operating has successor, Chief you transition diligently we stay assist and and his Financial the agreed with of EchoStar aware, Officer, search He during As through Rayner, and are on board company, contributions many wish has and some executive retire. Chief and an XX years shareholders Dave

that, offer call move the overview and today, will comments the will I the provide to for agenda our After then first, our a process. session. team question-and-answer brief on from some We'll activity quarter. of for As planning the strategic business second

Let now to turn Pradman. me it over

Pradman Kaul

Hughes one not by quarters enterprise the orders, record. to best included only report new I'm the U.S. of our million $XXX rural in of provider 'XX, but that had quarter second also as a one has satellite service that of XXXX, Internet HughesNet on recognized been solid highest provider satellite Internet proud Internet best our

customer time and a World offering continues rural been serving News to North that accolades and third in This of our we've satellite and focus consumer our end, the row To America. ISP, recognized strong the as that the are American Report to is best improving commitment these XXX Reviews. a endorsement on team both satisfaction.

out began service more new rolling from month. enjoying plans, are Our received who we are And year, earlier high-speed each increasing ARPU remained this being our customers first quarter. the strong, well which by data

from performance allocations satellite fleet. We optimize to yield to capacity possible best continue the our

our new in about Fusion first the we September. they in U.S. launch start consumer will HughesNet in reflect to as beginning customers excited market, existing we plans, ahead U.S. service Looking August are market our which with

to wireless satellite to internet and You first-of-a-kind Combining capability announced responsive technologies more experience an recall geo March demand. show. wireless market satellite this hybrid deliver at will we and meet us consumer that the overall for in enable

the ensure need. in proud Connectivity service remain the households helps Additionally, they that Internet have we high-speed eligible Program a FCC Affordable participant to

OneWeb's the to Also million WiFi Moving and first Aviation. antenna electronically within American for our LEO more flat to project, system service in-flight steerable XXXX And antennas network. technology, on In In we This modems second the to our worth U.S. the business. an of $XXX SES using to Airlines. X,XXX Business including using with multiyear insight is we'll of our quarter, phase services enterprise panel our North remains executed initiate capacity agreement we Gogo start than completed arena, managed Jupiter platform. the a deployment Spirit SES-XX connectivity business solid. services in-flight and the enabling launch Jupiter partners market, development in completed deployment

see upgrading example, at equipment petroleum as in and X And for contracts energy less customers a continue than success stores OneWeb the As gateways In project we of production one retail just deployments continued completed deliveries and systems in than and program, we network X,XXX we a planned. more that to months. retail markets. our with involve

We complete for user to models of gateways XXXX. terminals. have delivery production in gateways also expect XX shipped all the so We've far, started and

with Our government second Force Pennsylvania, also, the quarter add-ons development. a our sites, X-year services total Space Defense strong received from and Service satellite the a the contract the more renewal Group than to the secured portfolio the civilian of U.S. terrestrial market, XG winning services our a U.S. programs, classified SATCOM award providing locations of Postal broadband managed Navy Commonwealth of in an U.S. at Service multiple had and In U.S. team networks number broadband the terrestrial XXX bringing to from Also, managed group agencies. XXX. for Postal systems

international operations. Now our to

to in our in Latin yield As our priority U.S., capacity. American maximize the is market on the

screening this means as such capacity-optimized business, and value steering consumer selective through plan. tactics price the For

the increasing ARPU Our from trend first is quarter. positive,

projects decision. We are enterprise and high-value and government also pursuing

the automation oil sites project. broadband the X Colombia deliver contract, we fleet Brazilian and our expanded of vehicles. under total managed throughout X,XXX and network. to orders digital an For our utility gas multinational to additional unserved terrestrial customer large like to element And XX-site example, strategy to retailer on important retail speed broadband contract new secured the providing our customer for is country, focusing connecting transformation business. managed quarter, An with extended Brazil, the Brazil of higher A connectivity won second one extended resellers underfilled Ka-band companies a services this Europe, and nearly services, In the a retail WiFi. additional bringing In our our in expand emerging or large contract. in in with won sites businesses during a from using markets, populations contract large to biggest and satellite schools X,XXX either we X-year SD-WAN extension we to XX,XXX support with

acceptance to strategy, continue successfully We platform worldwide. execute on leveraging strong the this our of Jupiter

we managed X-year GSAT-XX we and enterprises, with high-throughput with into using India contract nationwide the the to developing service office. first Indian is its India fast India. provide across As to active January SD-WAN operator for important GSAT-XX and us. Bharti brand, service satellite in telcos of you our It venture Oil small HCI, sites, under XX,XXX in secured joint a highly the XXXX, Hughes Indonesia know, in completed satellite largest now businesses Corporation with and Airtel operating satellite the of formation a major win region medium launched targeting business, and Communications

X We as demanded look satellite service satellite our an cellular Nusantara, well to the as forward to supply power to our And provide over to of ability as satellite that gigabits During third stations. the by selected Jupiter PSN, order high-throughput customers. our to backhaul to the Hughes capacity XXX for XX with the plans Jupiter will additional bring as gateways market significant from offer we support quarter, LTE-based Satellite system second. their received Nusantara Jupiter it will Pacific launch XXX per high-speed

satellite complete, Our is and the in during where we'll Once thermal chamber testing can currently We environment. will this move in satellite conditions the at to half to into launched XXXX. progress be integration. continues the Maxar first of be space vacuum it final the is that tested it anticipate similar

call to Dave. Let me now turn this over

David Rayner

Pradman, you, Thank hello, and everyone.

same last second compared year. to quarter was the Our in period XXXX revenue the flat of

managing other managed pressure at on gross have both our business. across the has and continue to equipment put sustain sales government change enterprise some and our mix our our with to same and higher the capacity constraints and to in consumer margin. revenue We while will our factors domestically This internationally, revenue customers time,

The $XXX experienced XXXX, was have Our adjusted costs increased certain second and relatively margin impact functional areas our services our decline care. field remained was driven including have we EBITDA to from expenses gross operating by in EBITDA began customer in adjusted primarily in as in last flat. quarter million, a XX% and year. decreasing operations the Inflation

and of we open the cost quarter second the XXXX, cash million strongest market and million. opportunities we We back million one during X.X million of in for a are making growth. our in our margins. this deploy $XX bought to adjusted operations the stock continue cash impact our protect sheet Free $XX $XX every remains EBITDA flow, balance defined as effort quarter, our to to increasing sequentially. Meanwhile, to industry, was of In minimize CapEx, the of the minus second at shares seek

over the Let me back turn call Hamid. to

Hamid Akhavan

series order expertise of areas and throughout of On the our functional competitive our quarter strengths first our EchoStar, Dave. conducted shared in-depth spectrum some a Since environment unique lines opportunity. of I then, our in trusted business our have areas S-band and earnings company I reviews strengths, including reputation, and about global our operational and of various our you, and sheet, strong assets. initial balance to the presence ascertain engineering call, thoughts Thank my

stability undertaking, strategic and specific While a this with not course. including designed process I business growth acquisitions. the ones, a you potential road opportunities will as chart disclose independence while safeguard of is capitalizing I'm our long-term of new some to and ready lines map, methodical financial existing share to we on This

we work on horizons consecutive I We all that horizons, are that parallel. referring to pursuing X repeat windows. time working X parallel I are call time X would in to like streams

both are horizon ways for the and operations year optimize business current and next at or over we our our so. First, offerings looking X, to

to similarly, some already precisely, in simplifying we we'll combat financial for the profitable focusing than greater Simply most intend efficiency. markets, our management in on for on growth. trends profitability are in the service, churn. and and to steering operating Across are improve our and Fusion near our collaboration, touched more subscriber centralizing on areas mix, organization, the managing capacity HughesNet the these we identifying have towards shift with efforts erosion We this structure rather the and the and, direct introduction due regions. horizon. actions, Through scalable we yield value international To the revenue -- cross-functional of of help

which includes calling developing are to we horizon plan of our a couple defining preparing and service. are following fleet pursue X, X them. horizon sophisticated the Jupiter opportunities organization and to we X, organic best the once monetize For growth go-to-market enters capacity years This

business are areas and the to investments We our our scale for acquisitions. and potential through plan outlining internal globally complementary enterprise focus increase

our by solutions. LEO-GEO leveraging will services pursue We also and business managed hybrid growth portfolio

long-term evaluating including are we potential opportunities. currently X, growth, for of and horizon our opportunities For assets commercialization new avenues S-band M&A of

This combined couple a existing LoRa-enabled at share high-level first seamless LoRa-enabled provides to to like it updates. network Internet would Things of Mobile, I and the of roam terrestrial ability of world's satellite for Paris. initiatives, with real-time is Expo bidirectional, S-band introduced in licensee, coverage onto hybrid service, EU World LoRaWAN Pan-European EchoStar our Europe, devices our networks. Regarding our network the LoRaWAN the

track national and Mobile standard-spaced IoT XXXX, We Ukraine. the government we for excited lift to voice are services relief of and terminals transform launch commercial contributions with data associated satellite efforts EU in IoT services. help the and comps EchoStar and and significant late reliable service in to made ongoing market S-band on humanitarian satellite accompanying are with cost-effective,

crisis, job mobile many in members who We demonstrated superb software with we potentially a to look region, believe future services strategic role and grateful hear to earnings on this of vital our are this and eager high-quality more across calls. team responding you effort to forward to our on Europe direction, the I I you're the sharing in and financial information additional know worldwide. did specifics

Let to it session. to me Q&A start operator the now our turn over

Operator

Prentiss the Ric Instructions] Our Raymond James. from come question from first [Operator will line of

Ric Prentiss

been This working last might you. call, be with earnings great Dave, I guess. the

first what's and So delays. I to retirement. more specifically causing as wanted congrats far Jupiter X. maybe start with enjoy the as Update us

launch as could a have And manufacturing, service you X may in get be jumping other good be first are chain, date be as half. but you expect launched? supply comfortable do X when to if Jupiter far you that think, we I ahead, pretty when now expect Jupiter to projects in how

Pradman Kaul

Yes.

go Sorry, ahead.

Hamid Akhavan

Please, continue. Pradman, please

Pradman Kaul

Okay.

so hurdles As chamber, far biggest has in -- satellites. And know, the is good. testing the of are build which now satellite the have when you in we one one you going the that we is the

confident we're so that give And here more have and going to take getting a there. projected the that dates more and be are few we days or met,

good it. feel to So got we about

couple a service. I should once the satellite think, in in launch months of we be after typically, that, we

we the predict being service. total date think for still of I we're can't but should service we first So -- in satellite, half, in new as exact be a the end by launched satellite we the

Ric Prentiss

news since understand what EchoStar major And and couple which one some term capacity Good. last the was Okay. customers proposing a obviously, of weeks, the of Eutelsat does as yours. far industry and ability they're what Help us to and of OneWeb India over into relationships as it sell events that longer you and Hughes both U.S.? means having And as as LEO for far merger, the mean the had

Hamid Akhavan

go ahead. Pradman,

Pradman Kaul

Yes. you. Thank

forward. continue Eutelsat of No contract. a to are current it's I which are us, have, really, ours, are Ric, expected very positive as with The continue. we very we them good mentioned, for do going OneWeb good think. so feel So that -- changes will you that customers both development will that significant Both -- business in we contracts and are

In believers with we've X concept. been I in are the addition, really think advantages about facilitates we as And last GEO-LEO them the relationships past, the the talking you with in we the have months. know for merger, strong that along GEO-LEO this

business, positive, we all our not enhance we and but are will it business. all, and hope So obviously OneWeb's in Eutelsat only

Ric Prentiss

India you do maybe And with you the or relationship any to the able U.S. in those what expect to to OneWeb had? specific changes be that -- in

Pradman Kaul

No.

I think agreements still are very valid. those

capacity of and accelerate anything, than which starting more at higher the that potentially, I this for us much funding X more phase this we OneWeb the hopeful and because lot gets speeds if much this think could phase make X, X stage. phase are process will practical a

Operator

line Michael the Our Citi. next from from question come of Rollins will

Michael Rollins

see couple -- be access, the A or question quarter could of first Hughes And builds you just during the about any from any LEO these other which business. questions question fixed Did another consumer I have impact the in is fiber of some performance of this. competition, of competition? emerging wireless after terms

Hamid Akhavan

well. direct Pradman, as to like I'd that you to question

Pradman Kaul

Okay.

obviously that done. -- issue losing other address some the networks. latency really are The other they right to threat because they We now has GEO biggest is can LEO subscribers the Starlink technologies and are sat

on So to working And latency we're come clearly with issue. this to up hard been will try subs losing some to Starlink. we've that compete solutions

that are latency service Fusion, LTE which we very hoping and interim combination which Now address the of will will about, the -- the solution the be will issue capability, GEO Fusion in is the Fusion we talked Fusion the address well.

that, from that hoping that need services faster we're do who churn the other to people So don't we compared should reduce the once need our it. latency

is fast primarily. of latency. that XX% video and addition, broadcast our require And video In traffic application doesn't video,

and a market service, having out. X year, we're I that, churn low it said will of up we'll battle high-speed them. have one customers are those But beginning the we'll So the comfortable business will customers combination formidable that that or service. this in support think have to suppliers successfully. continue some stay September of we we introduction Fusion hoping we're competitor, the customers They require Starlink. And out of service will to August But this be that X take or and that churning the are of with that X X of suppliers will latency will that to that address the and we in we

Michael Rollins

a And do balance you does the S-band. are from very may curious some that perspective opportunities others continuing the second repurchases. one advantage And hand, of to horizon on while on it to thinking on review, whatever hoping that opportunity? through take the future these strategic particularly infer embarked share EchoStar as S-band, that that funding create you're have, and the continued governing on company the thought, noticed that and be with you've that sheet repurchases about you as X a the for evaluating may question X is limited I've an you've platform I'm investing of to

Hamid Akhavan

on Dave, and if direct the may of there's you to first, comments. additional your that, it end I at comments

David Rayner

Yes, Hamid.

we're fraction grossly only operating we of the cash flow free share evaluate. stock and being program. something to view continue as now, the repurchase. that our Right We on buyback that undervalued, to we're continue It's a so continuing using

-- like the the Maybe growing we we're that. not we're continue it's sheet balance cash by will not So think as eroding it. we're as much I But evaluate doing balance could. we to

in look In very S-band like, is that terms I much what network of structure still would an play. think

discuss what to and out, he's right discussed, our as very As forward. will of further. evaluate exactly and the balance to we capability sure But going we're to making those position network, has willing our now, it pursuing I'm we're investments in build aggressively Hamid significant of sheet that confident opportunities

Hamid Akhavan

Thank you, Dave.

Michael Rollins

that. And just follow-up one to

cash like that of segment As incubation terms way to business you about for you segment flow to throws free you that the about helpful it think flow, internally be the of the do the Is free perspective? S-band? about consumer would maybe that and the of there think in that relative product some the enterprise cash about projects think flow free an the investors cash from off relative to the a core external think

David Rayner

Yes.

evaluate opportunities that operations cash always to But Growth may flow. investments, that so to invest that. of organic product enterprise it's mean at we but just costs, is all to against growth new shrink. may acquisition that we right? at. want we subscriber right? I on time, enhancement, in, aspects not And as spending as flow that want balance of cash today. acquisitions look in bit same much not we're it, to other It's free generate to the consumer important little cash positive, related business think continue other obviously The we I business from a S-band, the generates generates sliding all free significant subscribers

that the one-dimensionally, we know we So against investments in, and a increase. with the and it if the look may It's have of all opportunities flow done a it cash growth other shareholder in in significant see huge in all area, X mix. make intent we of to don't and lot of slowing of other. But is -- areas. result that us the future, in long-term at the off with revenue of some we analysis one And lot both value we certainly thought in it's trade obviously, and, growth

Operator

will line Chris of Quilty from the question next from come Quilty Our Analytics.

Chris Quilty

Wanted with the you're supplying supplying And you're I regarding think to equipment so OneWeb, mention start your off relationship. Obviously, to a there. gateways about question that opportunity gateways? beyond began seem heard OneWeb. how so, if to OneWeb you opportunity? some that CPE Can talk size you actually and I to pretty would well Eutelsat positioned gateways shipping you you you

Hamid Akhavan

pass I'll to Pradman, you. question this

Pradman Kaul

already supplying we're Sure. Thanks. modems Yes, at user for the OneWeb. besides gateways, terminals

So parabolic manufacturers these are supplied terminals making the antenna modems that of are to them. manufacturers for being user other

our So in modem it. every have terminal card user will

in customers signing of because game that's $XXX we one as get a Number are today. electronic we exciting start very terminals number production probably different we our million significant believe in this is global next program, the the year. contract that one. and will and And we that's best by scanning developing be now ESAs a to of able market So once there our array two, ball that and expect program the believe testing have right we delivering

a and revenues to X us hopeful the we applications the at next significant for years. next ESA, OneWeb X use that our in should will of generate so lot year that are And

Chris Quilty

you. Got

the the consumer talked about we're the Now you supplying time the Gogo. quarter, clearly, at you And And said not were when thought got I IFC last I announcement market. terminals. you with mainly thought about talking you've ESA,

you is now this So new the one got you've So for have for consumer a one product? the IFC and market?

Pradman Kaul

and $XX. Yes. an consumer market because of it the where to cost the the an mind can their or of generate No, just doesn't plan neither for in ESA, doesn't where $XX we're make supply sense cost OneWeb not consumer going you have antenna is

can't You just compete.

mobility the enterprise. the for high-end market airplanes, here ships, intent cars to -- is address trucks, So the mobility

And applications, requirement. then becomes the a so these antennas once at this meets use would which the have the we the ESAs domed are that except because today, ball they idea game. ESA parabolic announced in market But supplying not consumer, be, using that then to there's there do that, these addressing terminals the will for the stage. OneWeb different we start And user all no other

Chris Quilty

Got you.

consumer community focused I work hotspot service? OneWeb deploy meant because enterprise of Does of said in you your that the some economics on Sorry, Can in sort the clearly, market. of scenario? WiFi enterprise I for that sort a is

Pradman Kaul

either a process work of the and British mobility that market U.S. governments will where the will big and It bunch is other planes, already signing an big government, any element application. in of great of work should absolutely. be signed for It contracts enterprise to there customers. with The the economics OneWeb then work will a or ESA. for types and of well. Oh, government government kind certain going work that, the in be a big

excited. should next globe. year, deploying we're be So We all over very think them the we

Chris Quilty

No.

I market? longer and for are think 'XX X-K, specific much that and sort the because simply deployment. of Is that of IFC FCC airing in 'XX, certifications indicated they just Gogo's

Pradman Kaul

Yes.

time. we to through it a whole a piece kind new have bunch safety said, has done, to -- to and you that to and As fly just of order of tests takes of in airing be go equipment,

Chris Quilty

some business. in the up on the in and in starting you a ESS XX% Question of to hardware. talking the Understand. know small the kind range had were to QX. yet, in contribution, XX% but ship which I I And been hear margins, about XXs QX

expect or ship hardware. you to guess, you And later or indicated? thought actually did sort shipping XX, of you some year but you down XX as perhaps margins points I see begin ship the should so I correct full-scale this Ukraine, So next to we early said to year,

Hamid Akhavan

of the margin in may direct I Dave, question. this terms to you if

David Rayner

because to back ESS you reference I'm went then Yes. seem you I'm Chris, following margin and sure to equipment. increases, there, really you Hughes not

the I'm So sure not I understand question.

Chris Quilty

you in service the has as been hardware ESS EML of and XX-Q, to business. point, to the no but this up both referring Well, there I'm the out kind break and hardware,

David Rayner

is other. and clear, be and not Okay. of corporate Yes, -- is part business not to the of EML part EML ESS. EML is

Chris Quilty

wasn't No, obvious. that

David Rayner

Okay.

Sorry.

Chris Quilty

Fair enough.

the there an XX reason underlying was up why margins ESS points? gone in So have by

David Rayner

Yes. is I mean part big to margin. some that. of of starting it increase piece know, it incrementally a is revenue is actually that you And we're -- as revenue in XX% see in almost XXX% --

So basis, as grow margin even business, we that the significantly. a increases on small

Chris Quilty

on we And reselling Okay. service, terms a to assume contribution you're the have I should can -- about that a carriers to that your have the or going satellite with should it is than you you I'm wireless you're Fusion broadband? lower how in be how fair impact? of be which going provide national you say, assuming able basically basis? And margin agreements much again, think many be margin is with service, at inked inked that terrestrial to -- to so If

Hamid Akhavan

Yes.

Let a for me erosion. flat, flat, to on obviously and the the the see the margins, that be would relatively of let you're our margin expectations I'll We will margin the up going dollars incremental introduced I and the second dollar really but there an a pure cost. mean, address offset Yes, percentage margins part. Pradman to first be erodes the to that charge seen see percentage that little would part. bit we let But yet, obviously, the haven't that, but Fusion second we answer I'll part address Pradman impact like LTE because margin it. standpoint, stay from of given product haven't

Pradman Kaul

Dave. Yes, sure. Thanks,

now, with the agreement an have exclusive. everybody right talking And not but wireless in it's to now. we're carrier right We major X market

Chris Quilty

that Is indicate a that you And product. an brings regarding have their commercial Understand. to version dominate exclusive do that In aviation? plans since of back got the they But for actually there a X-K, on good seems that and for business a they they've Gogo. be -- decision question market. exclusive the that a aviation

Pradman Kaul

look market. the year, business as aviation purely But our aviation certainly the today, now. aviation. we'll on And commercial right next business the focused on Not business into is we get We're the focused product. at product

Chris Quilty

happens recently, used satellite final And X DISH to currently hypothetical, America. what bit I won't spectrum Okay. be you that in of called here TerraStar you the And on guess North specifically spectrum, question. the a And Europe. their to one Echo TerraStar question what in gigahertz? how essence, plans and with that X but get were royale, that to made but the SpaceX doing of that deployment you battle operate if gigahertz SpaceX holds I access what satellite is filing XXI is in X your a to the is spectrum, the This for force a -- does that in guess you're impact

Hamid Akhavan

you, and the at may question then end, comments if direct first necessary. I'll this add to I if Dean,

Dean Manson

public It this point, better. the an have Obviously, at view monitor notice. not digesting S-band we filing. don't something yes, do we the interest Chris, that. have filings a to still Sure. has there. in But we It's -- it. noticed intend on understand we're definitely on It's we and been

Operator

We Ric follow-up Raymond James. have from a Prentiss from

RicPrentiss

environment. want not One, trying formidable, service see to of into Are up there? you one earlier dynamics. something providers they follow they how playing to of the out competitive with I questions are couple wireless WISPs, formidable, on the you're at? Just think the A the of follow-ups. How looking Michael's competitive do Internet

Hamid Akhavan

perhaps the question. start Pradman, can you

Pradman Kaul

from barrier we think We are in we serving obviously, I technology, formidable. because the manner. run of the a the competitors have into all competitive to as different significant really But Starlink most. be a of that's We company not do on some formidable. they're serving. markets, don't so we overlap are a us able the but for in is the And being are not not view head everywhere. fringes the markets think like We as anybody that Sure. stage, them some don't -- major at From about competition markets they that this worry

the over develops next year it X. how see we'll so And or

Ric Prentiss

market that say are just Okay. or really versa? would of give something kind Can vice they you example different WISPs us serve When a an of you wouldn't the served. you

Pradman Kaul

Well, And it's comes go square lot line now. not certain the in right WISPs financing We other subs of the have where a very the capacity these capitalization competitive number of at is more element generally, play, obviously, into distance. is WISPs. other densities is that and best per the WISPs the to we between of are the densities. where world

Ric Prentiss

point. Fair

Hamid Akhavan

please. ahead Yes. I -- the mean, go WISPs

Ric Prentiss

Another question horizon on kind of and X, X. X

then XX first the X that think to as anticipating Obviously, years, of how fill service take half less? that anticipating mean years, what years, competitive X are well. end Jupiter questions are burden? coming we the plays fill 'XX, and fast into of my kind Jupiter you you X Michael landscape will of I you'll X? in by As it the

Hamid Akhavan

an least area. very products per in We've capacity at of think to Yes. we now is significant assuming do Jupiter we way not are reasonable horizons first that completed that new a analysis. we market with that bit a operations But and the the at for right we that the are that of years X enormous of on X, X cost advantage have some working

in continue evolve our to the for then, top but uplift growth, and least we X, horizon Jupiter to X by our metrics, of an nearly then consider X us obviously, X give we horizon in. X and get And at years, all which kicks additional So bottom. will financial

are beyond X. horizon We investment additional opportunities on working

about consider X we years. X be X to to horizon So

the what grow. things course, which expecting you additional that hope But X. Jupiter we on beyond growth horizon Of will we're I answers on and to that the we're hear. based above wanted to to question, working consider X continue have

Ric Prentiss

that been looking me Again, kind that could organically as you think identification, stands what to you just either guys specific you about another anything then not X, geographies, could of of out dramatic address, add that looking call the for or inorganically? maybe you but you'd future like out name or the products coming is out? you've and to think And any Yes, one what or how what horizons does. for markets, that of about at X indicators landscape X, early and

Hamid Akhavan

Right.

but mentioned, because somewhat horizon makes we you competitive in work made any say to be that tuck-ins I perhaps From let it where can in also until the it's in you progress have sense As as But for primarily some of increase would may the disclose that additional enterprise business, it's progress I there can't that market organic, be difficult to sensitive. perspective, X, to it know. really enough can and a us much scope. disclose opposed density

is business and very enterprise Our wide broad.

X served of categories or which large might to business, and offerings the products, set on very We have very enterprise verticals, of X is within deeper choose go a or vertical we broad. enterprise

are we're be we or X, a of there'll a that serve, X, clearly adjacency we horizon what S-band investments. give of are with in So much in as the we of can more synergistic have. already could can lot that or the horizon space depth In periphery organic at acquisitions, -- I that to mentioned. But phones we just But opportunity be us be, scale, density. come doing looking acquisitions what a as and at Obviously, looking enough certainly tuck-in work well. our larger

play to So can enterprise addressable towards core already that synergistic have. bigger have remaining of market, the from what terms us a takes we where with yet our rings, adjacent we business in perhaps

as you specifics. hoping earnings to are at that's can this the we in with I time, So be probably share much calls but the release as more future specific

Ric Prentiss

frame to like CFO that gone. quarter any and/or me, there the Makes [Indiscernible] of this sense. in question COO final Any you'd he's And And a related. time fill role? were thoughts for the one-timers

Hamid Akhavan

is as can. Well, I soon the as horizon

mentioned, we a process I now. in as are search right So

not obviously company very incredibly not to is take a our that position generally for and position is growth and We and it's easy to important required because position, inorganically. mode, important we're that that a This I And in is candidates. seriously, transition is absolutely depth an that, sets organically qualified company, will find. and something we remain certain opportunities in skill have new only also an but expect that ourselves some both is and it for

fill our do to we terms the selecting. Again, that land of do please to the a do will take -- job would us to But that's I can quarter, within within quarter. I this expect in allow we best this time this However, like -- and on position candidate. third

Operator

from Chris have Quilty. another We follow-up

Chris Quilty

is of Dave's that should a clubs? set new I exit package So assume golf

David Rayner

ball. Chris. hoping a correct, to not That's leave I'm us for

Chris Quilty

Jupiter Okay. think Well, what CapEx I India, any which just, steady as question launch? X and is don't should CapEx of the will you, for forecast for leave with sort post commit you for Jupiter final one about change assuming we X And to on this year? state the a then launch

David Rayner

Yes.

On it's that. the second that, address hard half to really of

going X, obviously Jupiter you're the costs premise -- Sort X, status is quo, mean, have quo, not an mix. what specifically consumer the going X CapEx could horizon business, to of a increase that. associated SAC, you're the in so with CapEx that from change existing I post to of status the and decline in by But obviously which on on the initiatives, launch-related the see probably satellite and piece, launch horizon equipments,

in to depends how take just described. all management, quickly it's year's this be But same it alternative Pradman the not the subscriber capacity we full business the in CapEx, grow the terms the range of range, or -- about to decide into So it's as counts. residential for $XXX going in we year. much about yield how probably million yes, that uses, It's on

Chris Quilty

Very the good. Enjoy retirement.

David Rayner

Chris. you, Thank

Operator

turn Terry not questions any the for over back I'll in call remarks. to showing further I'm And any closing the queue.

Terry Brown

forward joining to Okay. look the operator, for talking to you for you Thank next and today, quarter. call and thank you, we'll everybody

Operator

And you this participating. concludes conference the for call. Thank

have great may a You day. disconnect. Everyone, now

EchoStar (SATS) 6 Aug 222022 Q2 Earnings call transcript