Hughes Satellite Systems, a subsidiary of EchoStar, filed for Chapter 11 bankruptcy protection on Sunday, August 2, 2026. The filing was made in the US Bankruptcy Court for the Southern District of Texas.
This filing is the second major Chapter 11 filing within the EchoStar group in approximately five weeks. On June 30, Dish Wireless, which is in the process of winding down Dish DBS and certain subsidiaries and operations, also filed for court protection.
Debt and Financial Position
In its filing, Hughes Satellite Systems reported estimated assets and liabilities within a range of $1 billion to $10 billion. The company faces a total of $1.5 billion in bonds maturing on August 1, 2026.
Total in bonds maturing on August 1, 2026
Of that debt, $750 million consists of secured bonds with a 5.25% interest rate, while another $750 million consists of unsecured bonds with a 6.625% interest rate. As of March 31, 2026, the company held $102 million in cash, cash equivalents, and marketable securities.
Revenue and Subscriber Decline
The company reported a total revenue of $324.9 million in the first quarter of 2026, an 11.2% decrease from $366.1 million during the same period the previous year. Service revenue fell by 10.2% to $249.5 million, while equipment sales and other revenues decreased by 14.6% to $75.4 million.
HughesNet broadband subscriber counts fell to 681,000 at the end of March, a 20.2% decrease from 853,000 a year prior. During the first three months of 2026, the company saw a net loss of 58,000 broadband subscribers, compared to a net loss of approximately 30,000 in the same period last year.
Despite these declines, the company reported a net loss of approximately $7.3 million for the first quarter of 2026, which was a narrower loss than the $48.4 million reported in the same period last year. Hughes Satellite Systems maintains a contracted revenue backlog from corporate customers of approximately $1.4 billion.
Operations and Competition
Hughes Satellite Systems provides satellite and managed network services to consumers, companies, government agencies, airlines, and communication businesses in various countries. The company operates a fleet of six geostationary satellites.
Hughes Satellite Systems' official financial reports list SpaceX and Viasat as the main satellite competitors for Hughes Satellite Systems in North America.
