Exhibit 99.1

EchoStar Announces Financial Results for Three and Six Months Ended June 30, 2020

Englewood, CO, August 6, 2020—EchoStar Corporation (NASDAQ: SATS) today announced its financial results for the three and six months ended June 30, 2020.

Three Months Ended June 30, 2020 Financial Highlights:

•Consolidated revenues of $459.5 million.
•Net loss from continuing operations of $14.8 million, consolidated net loss attributable to EchoStar common stock of $11.4 million, and diluted loss per share of $(0.12).
•Consolidated Adjusted EBITDA of $160.9 million (see discussion and the reconciliation of GAAP to this non-GAAP measure below).

Six Months Ended June 30, 2020 Financial Highlights:

•Consolidated revenues of $925.1 million.
•Net loss from continuing operations of $72.6 million, consolidated net loss attributable to EchoStar common stock of $65.7 million, and diluted loss per share of $(0.67).
•Consolidated Adjusted EBITDA of $309.5 million (see discussion and the reconciliation of GAAP to this non-GAAP measure below).

“The second quarter of 2020 continued to demonstrate that we are in extraordinary times, and despite the ongoing challenges of COVID-19, I am proud of our second quarter performance” commented Michael Dugan, CEO and President of EchoStar. “Whether our current environment is a ‘new normal’ or a temporary state, EchoStar remains focused on delivering the connectivity our customers need today and into the future. Operationally, we increased our consumer subscriber base by approximately 26,000, driven by our international markets, bringing our broadband subscriber total to approximately 1.542 million. We continue to monitor economic conditions and are prudently managing the business. We are also excited to be joining the consortium selected to acquire OneWeb out of bankruptcy and to continue as a trusted technology and distribution partner for OneWeb as it emerges from bankruptcy”

Three Months Ended June 30, 2020 - Additional Information:

•Consolidated revenue was down $0.9 million year over year including an estimated negative foreign exchange impact of $12 million.
•Adjusted EBITDA increased 19% or $26.2 million year over year.
◦Hughes segment Adjusted EBITDA increased $31.1 million year over year. The increase was driven by higher margin primarily associated with our consumer service as well as lower sales, marketing, and other operating expenses.
◦ESS segment Adjusted EBITDA increased by $0.1 million year over year.
◦Corporate and Other segment Adjusted EBITDA decreased by $5.0 million. The decrease was primarily driven by the loss of the revenue and EBITDA associated with the transfer of certain real estate assets to DISH Network Corporation as part of the BSS transaction, which closed in September of 2019, that were not treated as discontinued operations. The segment also had equity losses in unconsolidated affiliates during the quarter of $4.7 million compared to equity losses of $2.9 million in the same period a year ago.
•Net loss from continuing operations was $14.8 million, a decrease of loss by $15.2 million from last year. The lower loss was primarily due to higher operating income of $39.4 million and lower net interest expense of $3 million. This was partially offset by lower gains on investments, net, of
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$18.9 million, higher income tax provision, net, of $6.2 million, and higher equity losses of unconsolidated affiliates, net, of $1.6 million.
•Hughes broadband subscribers are approximately 1,542,000 as of June 30, 2020 including approximately 321,000 subscribers in Latin America. In response to the continued challenges associated with the COVID-19 pandemic, we extended the FCC’s Keep America Connected Pledge through June 30, 2020, and our subscriber numbers and revenue exclude those whose service would have ordinarily been terminated in the absence of the Pledge.

•For the three months ended June 30,2020, approximately 71% of Hughes segment revenue was attributable to our consumer customers with approximately 29% attributable to our enterprise customers.

•Cash, cash equivalents and marketable investment securities were $2.5 billion as of June 30, 2020.


Set forth below is a table highlighting certain of EchoStar’s segment results three and six months ended June 30, 2020 and 2019 (amounts in thousands) from continuing operations (all US GAAP amounts reference results from continuing operations):
For the three months ended June 30,For the six months ended June 30,
 2020201920202019
Revenue
Hughes
$453,172  $451,847  $911,654  $897,184  
EchoStar Satellite Services
4,179  3,742  8,831  7,775  
Corporate and Other
2,115  4,842  4,647  9,854  
Total revenue
$459,466  $460,431  $925,132  $914,813  
Adjusted EBITDA
Hughes
$186,277  $155,212  $348,496  $316,853  
EchoStar Satellite Services
1,543  1,486  3,573  3,215  
Corporate & Other:
Corporate overhead, operating and other
(22,252) (19,070) (42,375) (37,788) 
Equity in earnings (losses) of unconsolidated affiliates, net(4,668) (2,898) (156) (7,725) 
Total Corporate & Other
(26,920) (21,968) (42,531) (45,513) 
Total Adjusted EBITDA
$160,900  $134,730  $309,538  $274,555  
Expenditures for property and equipment$92,300  $107,342  $196,904  $219,196  

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Reconciliation of GAAP to Non-GAAP Measurement (amounts in thousands):
For the three months ended June 30,For the six months ended June 30,
2020201920202019
Net income (loss)$(14,843) $(5,060) (72,580) 9,948  
Interest income, net(10,760) (23,213) (26,343) (47,642) 
Interest expense, net of amounts capitalized38,258  53,749  74,491  106,948  
Income tax provision (benefit), net10,851  4,692  3,359  7,590  
Depreciation and amortization129,887  120,266  262,255  239,244  
Net loss (income) from discontinued operations—  (24,968) —  (44,215) 
Net loss (income) attributable to non-controlling interests3,431  (632) 6,873  (1,438) 
EBITDA156,824  124,834  248,055  270,435  
(Gains) losses on investments, net
6,090  (12,855) 52,762  (19,791) 
Litigation Expense—  24,504  —  24,504  
License fee dispute - India, net of non-controlling interests
(454) —  (563) —  
Foreign currency transaction (gains) losses, net
(1,560) (1,753) 9,284  (593) 
Adjusted EBITDA
$160,900  $134,730  $309,538  $274,555  

Note on Use of Non-GAAP Financial Measures

EBITDA is defined as “Net income (loss)” excluding “Interest income, net,” Interest expense, net of amounts capitalized,” “Income tax benefit (provision), net,” “Depreciation and amortization,” “Net income (loss) from discontinued operations,” and “Net income (loss) attributable to non-controlling interests.”

Adjusted EBITDA is defined as EBITDA excluding “Gains and losses on investments, net,” “Foreign currency transaction gains (losses), net,” and other non-recurring or non-operational items. EBITDA and Adjusted EBITDA are not measures determined in accordance with US GAAP. EBITDA and Adjusted EBITDA are reconciled to “Net income (loss)” in the table above and should not be considered in isolation or as a substitute for operating income, net income or any other measure determined in accordance with US GAAP. Our management uses EBITDA and Adjusted EBITDA as measures of our operating efficiency and overall financial performance for benchmarking against our peers and competitors. Management believes that these non-GAAP measures provide meaningful supplemental information regarding the underlying operating performance of our business and are appropriate to enhance an overall understanding of our financial performance. Management also believes that EBITDA and Adjusted EBITDA are useful to investors because they are frequently used by securities analysts, investors, and other interested parties to evaluate the performance of companies in our industry.

The consolidated financial statements of EchoStar for the periods ended June 30, 2020 and 2019 are attached to this press release. Detailed financial data and other information are available in EchoStar’s Quarterly Report on Form 10-Q for the period ended June 30, 2020 filed today with the Securities and Exchange Commission.

EchoStar will host a conference call to discuss its earnings on Thursday, August 6, 2020 at 11:00 a.m. Eastern Time. The call-in numbers are (877) 815-1625 (toll-free) and (716) 247-5178 (international), Conference ID 3563538.
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About EchoStar Corporation

EchoStar Corporation (NASDAQ: SATS) is a premier global provider of satellite communications solutions. Headquartered in Englewood, Colo., and conducting business around the globe, EchoStar is a pioneer in secure communications technologies through its Hughes Network Systems and EchoStar Satellite Services business segments.

Safe Harbor Statement under the US Private Securities Litigation Reform Act of 1995

This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “project,” “plans,” and similar expressions and the use of future dates are intended to identify forward‑looking statements. Although management believes that the expectations reflected in these forward‑looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. We assume no responsibility for the accuracy of forward-looking statements or information or for updating forward-looking information or statements. These statements are subject to certain risks, uncertainties, and assumptions. See “Risk Factors” in EchoStar’s Annual Report on Form 10-K for the period ended December 31, 2019 and Quarterly Report on Form 10-Q for the period ended June 30, 2020 as filed with the Securities and Exchange Commission and in the other documents EchoStar files with the Securities and Exchange Commission from time to time.

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Contact Information
EchoStar Investor Relations
EchoStar Media Relations
Terry Brown
Phone: +1 303-728-5179
Email: terry.brown@echostar.com		Sharyn Nerenberg
Phone: +1 301-428-7124
Email: sharyn.nerenberg@echostar.com
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ECHOSTAR CORPORATION
Condensed Consolidated Balance Sheets
(Amounts in thousands, except per share amounts)
 As of
June 30, 2020December 31, 2019
Assets
Current assets:  
Cash and cash equivalents$1,948,464  $1,519,431  
Marketable investment securities509,980  940,623  
Trade accounts receivable and contract assets, net183,379  196,629  
Other current assets, net185,699  179,531  
Total current assets2,827,522  2,836,214  
Non-current assets:  
Property and equipment, net2,399,711  2,528,738  
Operating lease right-of-use assets125,996  114,042  
Goodwill509,054  506,953  
Regulatory authorizations, net474,463  478,598  
Other intangible assets, net22,667  29,507  
Other investments, net275,873  325,405  
Other non-current assets, net340,904  334,841  
Total non-current assets4,148,668  4,318,084  
Total assets$6,976,190  $7,154,298  
Liabilities and Stockholders’ Equity  
Current liabilities:  
Trade accounts payable$112,748  $124,080  
Current portion of long-term debt, net896,386  —  
Contract liabilities89,831  101,060  
Accrued expenses and other current liabilities262,944  270,879  
Total current liabilities1,361,909  496,019  
Non-current liabilities:  
Long-term debt, net1,494,902  2,389,168  
Deferred tax liabilities, net349,973  351,692  
Operating lease liabilities110,899  96,941  
Other non-current liabilities74,239  74,925  
Total non-current liabilities2,030,013  2,912,726  
Total liabilities3,391,922  3,408,745  
Commitments and contingencies
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Stockholders’ equity:  
Preferred stock, $0.001 par value, 20,000,000 shares authorized, none issued and outstanding at both June 30, 2020 and December 31, 2019—  —  
Common stock, $0.001 par value, 4,000,000,000 shares authorized:  
Class A common stock, $0.001 par value, 1,600,000,000 shares authorized, 56,988,365 shares issued and 50,306,445 shares outstanding at June 30, 2020 and 56,592,251 shares issued and 50,107,330 shares outstanding at December 31, 201957  57  
Class B convertible common stock, $0.001 par value, 800,000,000 shares authorized, 47,687,039 shares issued and outstanding at both June 30, 2020 and December 31, 201948  48  
Class C convertible common stock, $0.001 par value, 800,000,000 shares authorized, none issued and outstanding at both June 30, 2020 and December 31, 2019—  —  
Class D common stock, $0.001 par value, 800,000,000 shares authorized, none issued and outstanding at both June 30, 2020 and December 31, 2019—  —  
Additional paid-in capital3,311,861  3,290,483  
Accumulated other comprehensive income (loss)(206,810) (122,138) 
Accumulated earnings (losses)558,034  632,809  
Treasury stock, at cost(137,347) (131,454) 
Total EchoStar Corporation stockholders’ equity3,525,843  3,669,805  
Non-controlling interests58,425  75,748  
Total stockholders’ equity3,584,268  3,745,553  
Total liabilities and stockholders’ equity$6,976,190  $7,154,298  

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ECHOSTAR CORPORATION
Condensed Consolidated Statements of Operations
(Amounts in thousands, except per share amounts)
For the three months ended June 30,For the six months ended June 30,
 2020201920202019
Revenue:
Services and other revenue$417,043  $402,786  $825,400  $805,454  
Equipment revenue42,423  57,645  99,732  109,359  
Total revenue459,466  460,431  925,132  914,813  
Costs and expenses:
Cost of sales - services and other (exclusive of depreciation and amortization)141,019  142,680  286,271  286,027  
Cost of sales - equipment (exclusive of depreciation and amortization)32,542  46,549  78,450  91,556  
Selling, general and administrative expenses113,798  149,209  239,079  261,323  
Research and development expenses7,448  6,388  13,702  13,276  
Depreciation and amortization129,887  120,266  262,255  239,244  
Total costs and expenses424,694  465,092  879,757  891,426  
Operating income (loss)34,772  (4,661) 45,375  23,387  
Other income (expense):
Interest income, net10,760  23,213  26,343  47,642  
Interest expense, net of amounts capitalized(38,258) (53,749) (74,491) (106,948) 
Gains (losses) on investments, net(6,090) 12,855  (52,762) 19,791  
Equity in earnings (losses) of unconsolidated affiliates, net(6,345) (4,754) (3,732) (11,107) 
Foreign currency transaction gains (losses), net1,560  1,753  (9,284) 593  
Other, net(391) 7  (670) (35) 
Total other income (expense), net(38,764) (20,675) (114,596) (50,064) 
Income (loss) from continuing operations before income taxes(3,992) (25,336) (69,221) (26,677) 
Income tax benefit (provision), net(10,851) (4,692) (3,359) (7,590) 
Net income (loss) from continuing operations(14,843) (30,028) (72,580) (34,267) 
Net income (loss) from discontinued operations—  24,968  —  44,215  
Net income (loss)(14,843) (5,060) (72,580) 9,948  
Less: Net loss (income) attributable to non-controlling interests3,431  (632) 6,873  (1,438) 
Net income (loss) attributable to EchoStar Corporation common stock$(11,412) $(5,692) $(65,707) 8,510  
Earnings (losses) per share - Class A and B common stock:
Basic and diluted earnings (losses) from continuing operations per share$(0.12) $(0.32) $(0.67) $(0.37) 
Total basic and diluted earnings (losses) per share$(0.12) $(0.06) $(0.67) $0.09  

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ECHOSTAR CORPORATION
Condensed Consolidated Statements of Cash Flows
(Amounts in thousands, except per share amounts)
For the six months ended June 30,
 20202019
Cash flows from operating activities:  
Net income (loss)$(72,580) $9,948  
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization262,255  309,631  
Losses (gains) on investments, net52,762  (19,791) 
Equity in losses (earnings) of unconsolidated affiliates, net3,732  11,107  
Foreign currency transaction losses (gains), net9,284  (593) 
Deferred tax provision (benefit), net(2,452) 7,014  
Stock-based compensation4,509  4,833  
Amortization of debt issuance costs2,120  3,872  
Other, net(7,295) 2,742  
Changes in assets and liabilities, net:
Trade accounts receivable and contract assets, net(5,262) 167  
Other current assets, net(11,642) (129) 
Trade accounts payable(11,701) (225) 
Contract liabilities(11,229) 34,024  
Accrued expenses and other current liabilities27,050  16,800  
Non-current assets and non-current liabilities, net5,729  1,374  
Net cash flows from operating activities245,280  380,774  
Cash flows from investing activities:  
Purchases of marketable investment securities(555,367) (504,264) 
Sales and maturities of marketable investment securities977,532  1,621,481  
Expenditures for property and equipment(196,904) (219,440) 
Expenditures for externally marketed software(19,237) (15,329) 
Net cash flows from investing activities200,524  882,448  
Cash flows from financing activities:  
Repurchase and maturity of the 2019 Senior Secured Notes—  (920,923) 
Payment of finance lease obligations(421) (20,008) 
Payment of in-orbit incentive obligations(1,021) (3,778) 
Net proceeds from Class A common stock options exercised436  61,503  
Net proceeds from Class A common stock issued under the Employee Stock Purchase Plan5,300  5,074  
Treasury share purchase(5,893) —  
Contribution by non-controlling interest holder10,000  —  
Purchase of non-controlling interest—  (7,313) 
Other, net674  (267) 
Net cash flows from financing activities9,075  (885,712) 
Effect of exchange rates on cash and cash equivalents(19,232) 121  
Net increase (decrease) in cash and cash equivalents435,647  377,631  
Cash and cash equivalents, including restricted amounts, beginning of period1,521,889  929,495  
Cash and cash equivalents, including restricted amounts, end of period$1,957,536  $1,307,126  

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