EchoStar
30 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.
Customers
AT&T
earns from · $22.650 billion in cashnamed as a riskPursuant to the terms and subject to the conditions set forth in the AT&T License Purchase Agreement, we have agreed to sell all our 3.45–3.55 GHz and 600 MHz spectrum licenses, including licenses exchanged as part of the Omega License Purchase Agreement, as defined and detailed in Note 15 in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K, (collectively, the “3.45 GHz and 600 MHz Licenses”), and to a 99-year extension of existing leases for AT&T’s exclusive use of certain wireless spectrum licenses in Hawaii for an aggregate purchase price of $22.650 billion in cash, subject to certain potential adjustments (the “Closing Purchase Price”).Business (Item 1)
Space Exploration Technologies Corp. (SpaceX)
earns from · approximately $20 billionnamed as a riskAs a result of this change, the total consideration for the SpaceX Transactions has increased from $17 billion to approximately $20 billion, with up to $11 billion to be paid in SpaceX’s Class A Common Stock, valued at $212 per share (the “Amended Equity Amount”).Business (Item 1)
Suppliers
AT&T
depends onnamed as a riskAs a Hybrid MNO, we currently depend on T-Mobile and AT&T to provide us with network services pursuant to the MNSA and the NSA, respectively.Risk factors (Item 1A)
T-Mobile
depends onnamed as a riskUnder the MNSA, we agreed to a minimum purchase commitment to T-Mobile, subject to certain terms and conditions.Risk factors (Item 1A)
Programming content providers
depends onnamed as a riskThe cost of programming represents the largest percentage of our overall Pay-TV costs.Risk factors (Item 1A)
Cable-affiliated programmers
depends onnamed as a riskWe purchase a large percentage of our programming from cable-affiliated programmers.Business (Item 1)
Local broadcast stations retransmission consent
exposed to its pricenamed as a riskFurthermore, the rates we are charged for retransmitting local channels have been increasing substantially and may exceed our ability to increase our prices to our subscribers, which could have a material adverse effect on our business, financial condition and results of operations.Risk factors (Item 1A)
Partners and platforms
Independent third-party retailers
depends onnamed as a riskWhile we offer products and services through direct sales channels, a meaningful percentage of our total gross new subscriber activations are generated through independent third parties such as small retailers, direct marketing groups, local and regional consumer electronics stores, nationwide retailers and telecommunications companies.Risk factors (Item 1A)
Starlink
depends onThe SpaceX License Purchase Agreement also provides for future long-term commercial agreements that will enable us to offer our Wireless subscribers access to SpaceX’s next-generation Starlink Direct to Cell text and voice and broadband services utilizing certain rights and licenses related to the Spectrum that are to be conveyed by us to SpaceX at the Spectrum Acquisition Closing.Business (Item 1)
Other companies
SpaceX Class A Common Stock
exposed to its price · up to $11 billionnamed as a riskAccordingly, any decline in SpaceX’s business, valuation, financing environment or perceived market trajectory may materially and adversely affect both the value of our investment and the market price of our Class A common stock.Risk factors (Item 1A)
Wireless spectrum licenses
over $30 billionnamed as a riskWe have invested a total of over $30 billion to acquire certain wireless spectrum licenses.Risk factors (Item 1A)
Hughes Satellite Systems Corporation
named as a riskWe expect completion of either of the AT&T Transactions or SpaceX Transactions to fully resolve our going concern qualification, except for our Hughes Satellite Systems Corporation subsidiary.Risk factors (Item 1A)
Competitors
Verizon
competes withnamed as a riskWe compete with a number of national wireless carriers, including Verizon, AT&T and T-Mobile, all of which are significantly larger than us, serve a significant percentage of all wireless subscribers and enjoy scale advantages compared to us as the only nationwide MNOs in the United States.Business (Item 1)
Amazon Project Kuiper
named as a riskSpaceX, Amazon’s Project Kuiper (“Kuiper”) and others have obtained FCC authority to launch, operate and provide service from, NGSO satellite systems using a variety of spectrum bands, including the 12.2-12.7 GHz band, which we use for our DBS service, and where we also have certain licenses to provide one-way terrestrial MVDDS service.Business (Item 1)
ViaSat
competes withOur primary satellite competitors in the North American consumer market are ViaSat and SpaceX.Business (Item 1)
Places
Canadian DBS orbital slot (72.7 degree)
depends on · 16 DBS frequency channels16 DBS frequency channels at the 72.7 degree orbital location, which is a Canadian DBS slot that can provide service to CONUS.Business (Item 1)
China
depends onnamed as a riskWe depend on suppliers, including suppliers with manufacturing in China and other countries, for various materials in our Hybrid MNO, satellite and related infrastructure, Pay-TV and Wireless businesses.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Hazards
Satellite in-orbit failure
named as a riskWe generally do not carry in-orbit insurance on our satellites or payloads because we have assessed that the cost of insurance is not economical relative to the risk of failures.Risk factors (Item 1A)
Commodities and inputs
Brazilian real
exposed to its price · $34 millionnamed as a riskOur international business is conducted in a variety of foreign currencies with our largest exposures being to the Brazilian real, the Indian rupee, European euro and the British pound.Market risk (Item 7A)
Also named by AVY, CPAY, CTVA, MELI, MOS, NFLX, RHI, SHW and 1 more
Regulators
Federal Communications Commission (FCC)
subject tonamed as a riskThe FCC made it clear that it viewed our spectrum as being underutilized and deemed our continued ownership of such spectrum licenses inconsistent with the public interest, and that we must sell a material amount of spectrum licenses or face a wide-ranging license revocation.Business (Item 1)
Also named by AIOT, AMT, ANET, ASTS, CCI, CMCSA, DIS, EXTR and 26 more
U.S. Department of Justice (DOJ)
subject tonamed as a riskThe completion of the SpaceX Transactions are subject to the satisfaction or waiver of customary closing conditions, including, among others, receipt of certain consents and approvals from the FCC and DOJ.Business (Item 1)
Also named by AAPL, ACN, AMAT, ASO, BEN, BSX, CAH, CDNA and 21 more
International Telecommunication Union (ITU)
subject tonamed as a riskIn the event the international coordination process that is triggered by ITU filings under applicable rules is not successfully completed, or that the requests for modification of the broadcast satellite services plan regarding the allocation of orbital locations and frequencies are not granted by the ITU, we will have to operate the applicable satellite(s) on a non-interference basis, which could have an adverse impact on our business operations.Business (Item 1)
Laws and programs
Satellite Television Extension and Localism Act (STELA)
subject to · 210 local marketsnamed as a riskTo qualify for that waiver, we are required to provide local service in all 210 local markets in the United States on an ongoing basis.Business (Item 1)
U.S. tariffs
exposed to its pricenamed as a riskChanges in U.S. or foreign trade policies, including, but not limited to, new or increased tariffs, export controls, trade restrictions or sanctions, have resulted, and may continue to result, in higher costs for the wireless devices and other equipment we procure.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more
Communications Act of 1934
subject tonamed as a riskNon-governmental bodies, including commercial entities, that use radio frequencies to provide communications services to, from or within the U.S. are subject to the jurisdiction of the FCC under the Communications Act of 1934, as amended (the “Communications Act”).Business (Item 1)
Copyright Act of 1976
subject tonamed as a riskIn addition, the Copyright Act of 1976 (the “Copyright Act”) and the Communications Act of 1934 (the “Communications Act”) govern our carriage of broadcast signals.Business (Item 1)
AWS-3 re-auction payments (Northstar and SNR)
subject tonamed as a riskWe will need to raise additional capital in the future if the AT&T Transactions and SpaceX Transactions are not completed, which may not be available on favorable terms or at all, to, among other things, make any potential Northstar Re-Auction Payment and SNR Re-Auction Payment for the AWS-3 licenses retained by the FCC.Business (Item 1)
International Traffic in Arms Regulations (ITAR)
subject toThe export of other items is regulated by the U.S. Department of State’s Directorate of Defense Trade Controls under the ITAR and are subject to strict export control and prior approval requirements government (including prohibitions on the sharing of certain satellite-related goods and services with China).Business (Item 1)
Also named by ACHR, ADI, AIR, ALSN, APH, AVAV, CDRE, CLS and 29 more
Universal Service Fund
subject toFor certain services in the U.S., we are required to contribute fees, computed as a percentage of our revenue from telecommunications services to various funds, including the Universal Service Fund (“USF”) to support mechanisms that subsidize the provision of services to low-income consumers, high-cost areas, schools, libraries and rural health care providers.Business (Item 1)
Technology
EchoStar XXIV satellite
depends onWe have leveraged the EchoStar XXIV satellite to deliver satellite services to unserved and underserved consumer markets in the Americas as well as enterprise, aeronautical and government markets.Business (Item 1)