SATS - Earnings call 3 2023 | EchoStar Corporation

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the EchoStar Corporation Third Quarter 2023 Results Conference Call. [Operator Instructions]. Please be advised that today's conference is being recorded. I would like now to turn the conference over to Dean Manson, Chief Legal Officer. ahead. go Please

Dean Manson

our Hello, our for Michelle. today welcome our Finance; Paul to Hamid Senior Jeffrey Thank President Accounting Vice third everyone, Officer. quarter call of Gaske, President; and the our Veronika joined Operating of earnings Officer; Akhavan, Boggs, Takacs, you, and CEO and Chief Chief XXXX. by I'm

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

uncertainties audio recording, statements harbor allow made we ask this We other Litigation respect. All not to factors also actual any the Act of by cause provided forward-looking our materially statements and which that you be future could implied the Private of results Securities constitute Reform we These unknown call, safe statements. other do the pursuant to forward-looking results statements XXXX. during that and results forward-looking from involve make by historical different than statements fact, historical known or from expressed risks, and

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

presented GAAP undue earnings risks reliance consider measure comparable refer there carefully any assume release. I'll call the during adjusted We in turn this place updating described forward-looking our are on to responsibility the reconciliation a any call, over to now our should statements. any Hamid. statements. should too forward-looking You for and and in no reports not the EBITDA We

Hamid Akhavan

day, good and Dean, you, Thank everyone.

quarter strategy, financial progress briefly is award and today agenda question-and-answer with business among X, is first, on industry of with we'll includes We'll Delta provide Delta then work and results, streams for our star we call that in-flight the third for call into in-flight a Horizons known the before be our connectivity let move third a I from that leading will discuss parallel the quarter. the announcement brief an our that, which of to to X overview as activity the After will Our extensive follows: all fourth providers. leader highlight the me conducting in quarter competitive Airlines connectivity the signed service jump contract procurements. session. But

earned that the partner. This diversify continued is and their as We enterprise prior with regarding being will confidence statements market growth Delta in This focus on order new are is a our in-flight new communications backlog increase have business. my within consistent our our of earnings opportunity calls major thrilled to business. and selected in diversification a our

of satellite final in addition, stages satellite Jupiter its is In launch X is a testing our the schedule on December. for service and in-orbit in

Now financials. our to let's turn

anticipated As we third have Horizon nearing are our the quarter. enter X, we historically fourth end point as quarter the strong low marks of

of million the as continues was our the to driven was X year. revenue by capacity satellite wait third in be quarter million consumer the period and prior by $XX to to quarter impacted other constraints in revenue which Our compared business, Jupiter the XXXX be for $XXX our The same in broadband third factors decrease of by lower partially we service.

international expect revenue and we beyond. shipments, enterprise primarily our deployments domestic which to to fourth in decrease a had and recognize quarter in the and due lower also We

remain cash generation both the enterprise market, business scalable domestically to low will several we capital and better quarter. and low over As orders third enterprise continue believe we are point saw shared to which create We about I allow revenue our through variation the diversify as years, or us provide can investment some our we a in opportunities within most the operating have irregularity recognized that profile before, excited and a in market with leverage. internationally

see enthusiastic enterprise the approaching performance to are and in about an leading We our recent that backlog and near-term $X of billion. number estimated market enterprise a prospects

EBITDA Our third was the decrease XX% lower a the driven year, million, of primarily last in revenue. adjusted quarter $XXX by from

ahead million Operating $XX EBITDA program. of the on during quarter billion QX cash We expenditures the was continue healthy about primarily $XX to JX last to minus defined last satellite net and to due that confident the of refunds of QX year. as remain of CapEx lower million generate opportunities in costs receipt are on plan compared year. We to returns The was expenditures change and I and with strategic securities. increase with our direction us. marketable focus and cash. revenue quarter execution managing expectation $X $XX $XX to many our adjusted than the the million the on of to our Capital ability preserve of flow, and mix million align cash quarter, to in increase execute our ability to in in ended was cash generate

turn on provide the to additional activities. our and me call some over now quarter specifics Horizon X X Let the Paul, will and who

Paul Gaske

Horizon our X near-term of Thank we our about transformational and strategy previously our you, midterm strategic that enter Under quarter. time, are this later X focus into service as Horizon Hamid. we periods explained Horizon X into X, dividing to X, Horizon have Horizon Jupiter is X comes

across Americas global to begin the next-generation our focus services deploying business, HughesNet government our of expansion including enterprise on continue and the will the the sector service portfolio. and We managed

deliver track throughout understand we the that Internet QX. these plans service We to will allow is LEO-GEO robust new reacted satellite eager deployed be continued HughesNet leveraging ground be X compete our own in addressing for and growth extensive and to new our and speeds to the and in launching its products with high-speed preparation aligned demand pursue also team the shortly, we us of with in period, has begin on the service manufactured our fully services Once to further reached our as and experience. focus service, start enterprise to Fusion of and the to X broadband orbital X service continue of simple well and for The slot diversification. Jupiter testing to believe solutions portfolio market earlier midterm offering. in America as for transmission of satellite extension with well Fusion this its of consumer is enter to development customers' team the for has hybrid broadband antennas Jupiter attractive will we on Jupiter our our During North Maxar needs. The X expect system expect our service into December. South plans service the an quickly is high-speed, higher market service, will finalizing to offerings, Jupiter region. In ultimate low-latency all

is ARPU launch select expand We improve continue service, attract economics our new we Fusion new subscribers, expect our service help which to The percentage available to and X on well Jupiter highest subscribers Fusion the plans existing to overall as and we our see HughesNet have and been plans. considerable service. new of received by customers

strategies. capacity the yield optimization and we for of efficiencies, acquisition remain our satellite on our operational subscriber While America of further North X, preparing optimization of focused Jupiter launch

experience. efficiencies, deployment cost and the ML improve of end we not user and continue AI compromising the performance processes, to course, automation, through Additionally, our supply of improved

our Moving enterprise North to America business.

a achievement. very Horizon are X significant We entering with

jet we with more regional have to connectivity Boeing services As and to Hughes are XXX XXX Airlines Hamid America. and to video deliver on Delta deploy completed mentioned, to in-flight than thrilled serving a solution our WiFi contract passengers North

outstanding Our communication in in-cabin solution Jupiter provide service. a assets to utilizes the innovative way satellite very

We business unique than a initial offer expanding in-flight in years our strategy. directly support, to commercial months a we After more to with solutions been XX are number supporting extensively mid-XXXX. working in numerous Airlines team program installations providers now communication Delta This have change marks for in-flight airlines. communications our and with of equipment planned

Regarding North U.S. from retail orders market. enterprise QX we expansion and upgrade in retailers renewal petroleum the results, the and orders received several America

that placed our meet during OneWeb continued quarter, Explorer services Jupiter production the for third program, implementation significant plan. in a OneWeb the using X. In deliveries addition, support to systems their and In order service Canada broadband gateways terminals the of will we

subscriber modems. than for more shipped satellite OneWeb modules have We inclusion in XX,XXX

significant seeing ESS, previously from our distribution electronically customers. announced antennas and in or partners steered are direct resellers, interest We

for factory shipments expect We customers as our OneWeb initial OneWeb capacity. as units their begin well managed to to customers of to going this offering quarter with featuring service LEO

with we broadband Whidbey Station had systems Island half services DoD Our add-ons Government supporting for contracts orders for and advanced of of the number line broadband & the PTS delivered program, of flight offices, Postal the in Defense year. strong had for state which from Service with for program the along a their enhancements in our Air their the Naval the third first a U.S. rural Pennsylvania Navy Boeing for previously XG segment quarter services to follow-on

also order We products. contractor software-defined with defense-based SES multi-orbit from opened in Space new Force support GEO a era Air for received program based of new communications and Defense our an our networking, LEO and airborne for prime a communications

international Now operations. to our

their digital capacity. added going strongly LEO backhaul broadband Asia, forward. In enterprise expand new expansion we've as OneWeb in such our see compete Jupiter capacity. In America, allow standard backhaul equipment X leveraging use We facto we've new Jupiter number as new governments to projects us to for Jupiter inclusion We additional expect capacity the inclusion additional and and Latin underserved a our expand locations projects. our believe and cell us satellite extend X,XXX with opportunities well our these companies ESA globally for communications opportunities cell in also Mexico, on of cell system de digital reach inclusion to continue projects. similar to opportunities projects backhaul for as X and the and seen to geo Latin digital schools, services will Horizon communities. Throughout America, we allows for remains over In and continued upcoming of

a in example, second project order backhaul quarter Maharashtra. from India, USO we an XG for last As significant in supporting fulfilled in Airtel the

Indian also are the surveillance technology. to Jupiter Battlefield We upgrading Army's system

Jupiter we a have services a delivered While provide remote received satellite. Asia, to were high-throughput in order Central an a we've And system use Asia, will communities. and Internet for Southeast that on Jupiter system in for awarded

quarter of business, user Latin in customers customers. which Lastly, areas to look in of to high as next the will to year. enhance the allow both expected as Consumer we the first forward existing Jupiter additional services demand serve on experience This for X, with commencement and well us new is America in

Now let me Hamid. turn the call back to

Hamid Akhavan

Thank our from Horizon streams, work X we X, for the this Even the third activities continue parallel. in launched you, though all and has Horizon X Jupiter and quarter our year. X successfully, X of summary on Paul, of working X

through markets with an new X, it acquisitions. To our innovation to our Horizon today, organic longer-term strategy in for to into SX we As the our SEC DISH. update earlier with merger statement pending filed end, and is to potential expand relation that registration

the the SX on close this expect days the to go effective in coming track year. and to We transaction are

prospects of and our construction late In LiDAR to XXXX Things, or to store addition, for our track same we during the EchoStar developing are Lyra other we of on forward Internet is and satellites machine-to-machine evolving XXXX continue assets. spend in early global announced the underway, be services. At quarter, S-band time, continue the we begin as first data our opportunities offering to constellation first launch we LEO

investing XGPP EchoStar continue Europe LoRa of in are for For XX in customers our service bring example, the to on and development the Mobile to new complement existing technology. Release LoRa-enabled IoT we

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

Operator

[Operator Instructions].

comes The Rick Prentiss James. Raymond question from first with

Unknown Analyst

on Brent for Rick. is This

timeline? what closing you what left the set read from become we First terms are for as one, DISH milestones at with the deal on that Hamid the opposed deal of merger close, deal, to CEO in and next to the week should DISH

Hamid Akhavan

aware head second way Brent, taking I no who's the the here. really good part, obstacles read our XXXX to I of call the in of a confidence have for candidly, we Dean, make that merge to we the the there's role sure it's mean, an regarding nothing milestones. here. stand Look, opportunity getting are I'll start defer the a and together. Time dual companies my answer that ahead. part that -- will on regarding there's that the first for start high companies very in to we would and more get

performance hope just that we just passed the kind into bring we mentioned, of this the energetic look so together we performance, of effective I EchoStar, we the point lowest similar can As companies at develops for and our a passed more and XXXX. the much and situation

much start, there's shape would head better business to in to companies to XXXX. Dean, are not to get process left going So me Really, the it runway to you just the started merger read than X merged. milestones run least budgeting things that it going I on. want for when the that ability the be there's on, whole get other more at this regarding allow closes. before pass the to to I'll

Dean Manson

Sure. approval should We are well prescribed pretty year-end. mail that Yes. our yes, weight this licenses. shareholders, of for by it's amount Thanks, of expect a couple as Brent, to fully be the FCC public But be within transfer statements, the from up such we we wrapped time. information onward. certain as control things said remain that this straightforward the done Hamid. to period, of pro time need forma in to There just point small that statement

Unknown Analyst

announced merger give you more an surviving now. rationale Can be us to then the EchoStar the flipping move for unusual detail the some for for that? structure you the And company on Okay.

Hamid Akhavan

Dean. This No, go please. was ahead, -- ahead, Go

Dean Manson

going was be No, this as that company. structure are I companies going looking of the to ultimately merged that to the Sure. really just operated way and the to add optimal at one what's was result

legal it So one company strict the being way wasn't matter, thought although things as it other, structured. acquiring of that's these really get the a

flexibility. the the creates capital said restrictions place greater in allocation we terms modified debt-related more contractual This we when incrementally are announced the and some of the of this us that we companies. gives As and flexibility at made in different statements structure, in

as in So seen company somewhat and it how somewhat of managed. just the more we but exactly same the really end better, flexible in combined terms structure, was operated

Unknown Analyst

drove can project progress update Galileo Delta, Okay. the IFC on you what to with with that's the And also about enter talked And decision you then historically? in-flight lastly, deal the a competitive the in connectivity of us Gogo? market

Hamid Akhavan

Yes.

something been -- taking that. Look, parties other just we lead that in-flight We business. has about provided through say ask that been XXXX. embellish to and And solutions business we'll the me in-flight Let have we not market. have Paul certainly, since use been the in add to and have the have served its position,

globally number airlines around serving been numerous have We world. a of the

for opportunity the that up become so And step supplier supplier, to provide aspects integrated of this service. direct was all an just us a can an and end-to-end

market for a -- said, well. We as us. it's So not this new is a I not new area the understand very

now, -- been other the at in to be supplier more to third is $X.X look Airlines, opportunities Turkish parties, but Southwest through expected France, here, today, been have market KLM, we $X Spirit have XXXX. market, Air than We Airlines, that Airlines, the airlines. billion is And a we billion, here

because add you'd developed because from has equip and Hughes find like big there the move that X else we is to is anything our perspective decision planes one this prime to the in to great service. Paul, area? Enterprise excellent and the respect with a capacity ourselves this opportunities team of provide a technologies all to the to in business, growth So position, both the of very also Jupiter arrival of

Paul Gaske

points. No, I think the that's main

assets the a coming fleet opportunities I underneath now. we And seriously that OneWeb technology also that in which antenna think extensive of course, think service have situated near decision, us future. there's some in LEO and good the that the is we up good provide with regions the our to our Jupiter we're activities there, allows right discussing with because space of in ideally

Unknown Analyst

related project timeline the you where an Gogo update are and the could to Okay. there? And you on give that, in

Paul Gaske

to their would say market. leave Well, in have well, going it they I'd it's describe for -- are Gogo to just to timing where very I I would and

it but leave I'll it going at is well. So that,

Operator

question Michael comes Rollins Citi. with next from The

Michael Rollins

if A couple questions, could. of I

since JX how subscriber possible should performance to First, of flow and market subscriber the that and today How for the this we about? boost you opportunity. DISH our a a the you the has thinking unpack broadband much has service cash and may Can remind on share be to some should started to different And how differently. little And thoughts minds. And was push influence a can evolved then back how operate in significantly your in it want the may 'XX, could separately, a of first manner reference Network filing there EchoStar Networks talking year commercial past. how DISH from results? business just in about curious later into be if that SEC the in of just you EchoStar bit operated you us run

Hamid Akhavan

market. add that the make that. about will statements next year. EchoStar, SX -- put But I growth respect that brings in certainly more I I has excited number more have. us opportunities we the to cannot consumers some than performance year. a on expect am I enterprise we With EchoStar's significant we about expect next of that above mean, probably already much

we many more, We in, our I well haven't are as would for is been -- mentioned What past, backlog considering we the billion. -- ripe we protection placed think way our more we addressing. very that not expect actually the -- in differentiated is we by consumer than very and see the in end the pricing Starlink on and where we've dependent of during is business approach year, large offering seen operating, that consumer segment market opportunities enterprise. Again, is it and -- the primarily say, market within ourselves enterprise and had that the tied the are be our significant. of come I very $X our to this That call years backlog that

As mix is enterprise. of a this see, shift you business towards could our

in has years. And it to expect it course the in are generally requirements remain enterprise but business, of the you churn backlog an far once margin, far gross and lower Now there. over lower many enterprise has lower is you has CapEx

there very You years, remain has and sustainable life. long many and long a for business very, horizon

in see business see in in our year been showing an us better the numbers and the our JX lowest revenue, fact, will of significantly, performance than in improvement particularly as in in fact, XXXX. And on, will of see in here quarter, advance from metrics we revenue, you metric fourth shifting 'XX, as So direction. point We clearly terms anticipated has of you we a quarter improving also up see in had all now was that historically that in XXXX in even business. the this every

comes obviously of combine combination mean, the for a better our X of at DISH here, have XG it with we -- whole capabilities companies opportunity we XG when to that the I XG, here As business, enterprise will and instance, a a private and DISH, Echo business significantly will become number has. enterprise opportunities the enterprise EchoStar

those reasons, specific much can't if and there more try opportunities more -- will said answer and we to I to than more become obvious in but what that's So beyond any right real. there's happy narrow them. be say stop guess, I'll I'll I questions, today, have just I'll SX on tangible more

Michael Rollins

follow-up. Maybe other just one

You billion of this of year. end the at mentioned approaching $X backlog

referenced, is September backlog the think XX. revenue comparable the this contracted right I Q billion of as -- the $X of in billion $X.X

the context? be you So mindful opportunities to Or that $X.X comparison. the or that's between $X disclosed? there and right that agreements if that that of should the within partly the incremental billion billion, close we that other are Delta new agreement Is

Hamid Akhavan

deals number looking of we're a So and opportunities. at

in-flight. significant. -- East materializing I from amount we're I from not other business one, a variety our places are that Far sources. Obviously, there's are are there working opportunities to demand other of multiple business of is mean, is said, mind, that related very a in And in-flight significant As there on. facing deals and and are have our enterprise we segments that

a beyond this Don't quite is So really relevant next are that couple any by as this take sustainable. could in what's we approaching to grow What's And single that's confident -- year. as backlog please we that individual in -- the vastly quarters not of -- take important of are billion it as set year. significantly that of deal has basket, component backlog end that. we Again, we even but are every and of is first our enter business the is grown, very it $X

opportunities time themselves expect that manifest are manifest. frame, We to on that them in will working we

towards So of enterprise cash foreseeable it's of business horizon shift and revenues a a long gradual our very and flows.

Operator

from Chris comes with question next Quilty Space. The Instructions] Quilty [Operator

Christopher Quilty

aviation obviously, that that Again, and to given question market make your Congratulations a on out opens indirect. Delta that Or like practice involve that your you're to you you're there infrastructure a commercial past exist to staying the the secondary was capacity? up American build would service a is you're satellite desire And today. Ka-LEOs based. and Do that is dealing on RJ and capacity? which for out going North global commercial the are push, assets deal are with it business question, surprise then build sounds intend strategy, LEO a but there partnering global Ku your no And band? Ka-band is to aviation that bigger

unpack that's what can sort of if a you So thinking? but you're lot,

Hamid Akhavan

are Yes. operations products, not remember are provider a of -- -- to around and services, many, services a steered comes antennas software electrically we are amount as goes software antennas services. significant our there our that that that use we satellite connectivity many -- provide enterprise -- into technical the Chris, we or or it purely just world

could -- have own much around the say us too like and satellites to the potentially harm while can make way. without a of we Americas, work So our in them to play with service in direct in-flight that business. bigger a to to to provide disclosing have others connectivity information -- other I'd in we we the competitive that products world --

are but definitely there, a stop global just company. So I'll we

the whether business, in connectivity how And global. footprint play are a we have in-flight Americas. but than footprints, the products is may a and one of can our of aspect that that think be that's just -- we it, bigger services Our

Christopher Quilty

Good.

any before architected X wrong, the that broadband consumer, back enterprise I serving special something a of in way at terms operate think does fact mean, ever and in the made I when create that in Speaking X, you that thing design. guys And was LEO XXXX, of issues And of years time, to I you plumbing me did was correct the Americas, sort the if aviation. existed. 'XX. it optimized I'm mention for of found think the Jupiter for you you that markets? Clearly,

So how you some X to flexible is Jupiter if need towards these of applications. more pivot find enterprise the

Hamid Akhavan

on Paul, perhaps you to want comment that?

Paul Gaske

Yes, certainly.

Jupiter first we had mission serving of consumers. X, a So off, while

our also enterprise had anticipated portion a We services. major plan of aeronautical services as other well as

new it's not So a area.

Additionally, the region. way as as we in get to across capacity areas much designed it was possible key the

And effectively. so very it that does

cities capability. -- look handy We that's quite is of in-flight actually at we at have operations for fabric serving And the if serving particular, biggest we a our architecture, you the you that the area probably in in look have Jupiter capacity X obstacle where comes them. the typical so hub satellites, X all has service, if Jupiter and utilize

X the much we So we how where depending of on and any are need on X. capacity draw to

so how other at partners we And help that that's do few out capacity not time, the in we some from system. the are business to areas And that available covering. the have same us we fill generally build

think in shape pretty we're with we So that. good

Christopher Quilty

X, holding -- is this Spaceway How is of design Speaking up? all X Jupiter that past life? now

Paul Gaske

of days yard decommissioned being within Well, it's Orbit. in the great completely

moving the arc So yes, quietly it's the here across last been over month.

Christopher Quilty

of the given availability X. But any capacity creating Jupiter issues clearly not

Paul Gaske

of had drained they service. no. of sure all No, the to continuity make our early off subscribers We

got us them. well, served sure we we Spaceway the while and to move really newer so services the And customers wanted make

Christopher Quilty

Got in defense bit transcript, I you. Can missed, maybe mentioned, a A program, color particular in more recall were I had you think see -- press X you it. little released? which programs. the with it to And it reference, give about was quick don't you some that tied I was excited on SES.

Paul Gaske

they Yes, of Yes, MEOs, the are which a it. they -- services, SES plenty release program Group have Empower have is and the geos. one very was Defense a obviously, because there for has their obviously the interesting

modem And had this DoD so accepted provide some solution. have in we by blended a that technology that's they we've requirements with to multi-orbit

month they a a of probably, very don't as the happening exciting. I what reference think at we I going probably announced go point. space. you have sample ago, I some in announced. X interesting, And give or defense is previously know, it's But this It's yes, very to a be can forward

Christopher Quilty

may what production the And and but and on the already any of in delivery, the current development is call, Gogo, have it antennas in Great. final of change you mentioned and both both for here, timing there? sort question OneWeb the the

Paul Gaske

Yes.

think think call I've bit. in a I here the little first I -- off, mentioned

-- going of as They'll shipping going to looks than factory better performing far The those we we're OneWeb using really the be fixed schedules on quarter, like the go, it's as is program This that. Those apply will antennas. very OneWeb system well. antennas, They're where well the the thought. respond in number Gogo them. leave they And shortly. to we'll the it But but and Gogo antennas we're the going to are as a to had places leave as well.

happy that. very with we're So

Operator

The of Barden question from David comes with America. Bank next

David Barden

you, have to a for week. is that questions to given of the funding from that be Issue perspective. no X on. know could X going is they from happen things that paying my CEO of DISH going DISH perspective new I'm bring Hamid guess people in that a what the up you'll are I really your number band, how want to is out buy the spectrum $XXX to one to option time is billion. XXX the really the figure And that's $X.X megahertz in and million extend T-Mobile

be that, on could great. an have that if So you would input

is that was the with you to of be of up facility-based mobile going it's been it. less happen? make projecting I quarter put ideally fix plan great. How the The $X is fourth question struggling. be player How That second, than a EBITDA, DISH the DISH would more think, you in now for EBITDA America, $XXX question but XXXX. third from just And then to is are SX. do going million than to billion

Hamid Akhavan

today. deeper can you prime, concern we certainly of solve and have. I of the questions those on intend knowledge that prime for Even requirement answers. to we maximize not do I the company have focus Listen, will of point understand yet our I any answer business is holders. And don't can't I I getting unofficially, the Naturally, cash the to prime, use any and we meaningful of that certainly and challenges you. sure equity can cash solve the lenders detailed make of before into our that and liquidity give Thank that a of I problems and the clearly capital that, need

I think the a bankers during evaluation that us seeing as the privilege of result that identify I of documents, room. have that hand merger a -- the the number the some is of merger and that there's avenues had at gives that we -- had of

So not room. solutions this without or is without

incur XX I mobile it today, you expensive and States, time large that and world, considered very X it, to spectrum as there, become Look, OpEx to in energy There's a buy even of terms customer? today. Look, as the dollars when a the XG way detail past way. I you is neighborhood, XG as backhaul before your that be engineer, carrier, mobile a the incredible certainly, all circuits business, So of XG point -- the And that before that having plenty the can a you billion viable. $XX get our that had to selling billions market. but launched spend first And was your of start as business in business. get luxury. AMS you completely comes every nation a as in to get ourselves I as in own before you sophisticated those of a of you leases billions name in was and downtown young in least, the first you've mobile license more different and in obviously got phone of was of to there can't before of the in and network. being a in going the years, part particularly United anywhere no vast we kind those. just X market or coverage I've them in of and spend nationwide and size need acceptable you ahead a the the maintenance and the into Today, no to competitive X considered provide you provider fees, any to is amount come And you business significant area. we at XX coverage, on have time, was remember to of for tell got and U.S., in customer. I markets. XG been U.S. entry at of just consumers one mean, and first can and to roles sales And for back I we each can single just

-- would guess new So I venture that zero is never ground surprise entrant. is for service There be The infrastructure in to shot managed I to achieve for involved high. any the go, just the may last to the be. mobile has DISH new won't cost to It markets, that DISH entrants, mean, that's think entrant to There it best no as so you're work. is it's entrant in passing many absolute us XG I going a time new a make entrants begin not come a a my X not creates any in And market. market. mobile give big business. see guess new that. CapEx to venture and that be last my surprised. the because that may enters actually that that to intent will to one there be in a

together. Hopefully, of things but that that much But And of in that addition in, been optimistic brings differentiation and when bit having that X speaking about might all you which and focus is pieces of in we'll been be any can't that road a available a all a an and them in relevance about than which of I special the of has to revenues here expenses of that. forgetting Now and yet consumable EchoStar XG cost market. reached number entrant just there, not relevant an will tie that that Hopefully, a has and is type come you mindset more -- give way, assured it us attributes opportunity this made that design to comes I'm we number of infrastructure, is ahead all registered -- my perspective, and that you of as need of look, and in a on have not the together. work put brighter perspective a the ahead in verticals specific more all from rest areas, just it how to other a operations. to global consumer that make disclose enterprise as not DISH the they're I and has point we into on to I mind, of your that the all strategy, is a I'm much will that any by is have a we in world as things but new gives there, yet other a are a

Operator

questions I now no the Manson at turn remarks. Dean show to call further this I to back time. would closing for like

Dean Manson

We're Michelle. conclude meeting, you, and everyone thank the now calling for Thank ready in. I to

Operator

conference you today's Thank participating. for concludes call. This

You may disconnect. now

EchoStar (SATS) 6 Nov 232023 Q3 Earnings call transcript