The future looks more bleak for EchoStar with every quarterly report. And with the Dish Network parent company reporting a $2.03 billion loss in Q4, along with the loss of 314,000 more pay TV customers and 123,000 retail wireless subscribers, EchoStar itself is now conceding the gravity of its own situation.
In a 10-K filing with the SEC late last week, the Englewood, Colorado-based telecom said: “Because we do not currently have committed financing to fund our operations for at least twelve months from the issuance of these consolidated financial statements, substantial doubt exists about our ability to continue as a going concern. We currently intend to use cash on hand and cash flow from operations to pay the March 2024 debt maturity. However, we do not currently have the necessary cash on hand and/or projected future cash flows to fund the November 2024 debt maturity and subsequent interest on our outstanding debt.”
