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EchoStar Announces Financial Results for the Three and Twelve Months Ended December 31, 2023

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ENGLEWOOD, Colo., Feb. 29, 2024 /PRNewswire/ — EchoStar Corporation (NASDAQ: SATS) announced its financial results for the three and twelve months ended December 31, 2023.

Twelve Months Ended December 31, 2023:

EchoStar reported 2023 total revenue of $17.02 billion, compared to $18.63 billion in 2022. The net decrease in revenue primarily resulted from subscriber declines, most significantly in its Pay-TV segment.Net loss attributable to EchoStar in 2023 was $1.70 billion, compared to net income of $2.48 billion in 2022. The net loss in 2023 was primarily attributable to a noncash impairment to goodwill totaling approximately $758 million, and an adjustment to the carrying value of the 800 MHz purchase option totaling approximately $1.8 billion. Diluted loss per share was $6.28 in 2023, compared to earnings per share of $8.05 in 2022. Excluding the tax affected impact of the goodwill impairment and the 800 MHz adjustment, 2023 net income attributable to EchoStar would have been approximately $361 million.Consolidated OIBDA totaled $1.32 billion, compared to $3.41 billion in 2022. (See OBIDA definition and non-GAAP reconciliation below.) The decrease in OIBDA was primarily attributable to the noncash impairment to goodwill and the subscriber declines previously discussed.

“We closed the year with the completion of the merger with DISH Network. The transaction combined DISH Network’s satellite technology, streaming services, engineering expertise, retail wireless business, and nationwide 5G network with EchoStar’s premier satellite communications solutions, enterprise go-to-market capabilities, and U.S.-based manufacturing. Collectively, it creates a global leader in terrestrial and non-terrestrial wireless connectivity, and entertainment services,” said Hamid Akhavan, president and CEO, EchoStar Corporation. “With the close of the merger, we will continue to integrate our business and realize savings and operational efficiencies. We also will increase our focus on identifying and targeting the best, most profitable customers in each of our addressable market segments – Pay-TV, Retail Wireless, and Broadband and Satellite Services.”

Three Months Ended December 31, 2023:

Consolidated revenue totaled $4.16 billion for the fourth quarter, compared to $4.53 billion in the year-ago quarter. The net decrease in revenue primarily resulted from subscriber declines, most significantly in the Pay-TV segment.Net loss attributable to EchoStar totaled $2.03 billion for the fourth quarter, compared to net income attributable to EchoStar of $984 million in the year-ago quarter. The net loss in the fourth quarter of 2023 was primarily attributable to a noncash impairment to goodwill totaling approximately $758 million, and an adjustment to the carrying value of the 800 MHz purchase option totaling approximately $1.6 billion. Diluted loss per share was $7.48 for the quarter, compared to earnings of $3.21 per share in the year-ago quarter.Consolidated OIBDA totaled negative $370 million for the fourth quarter, compared to $735 million in the year-ago quarter. The decrease in OIBDA was primarily attributable to the noncash impairment to goodwill and the subscriber declines previously discussed.Net Pay-TV subscribers decreased approximately 314,000 in the fourth quarter, compared to a decrease of approximately 268,000 in the year-ago quarter. The company closed the quarter with 8.53 million Pay-TV subscribers including 6.47 million DISH TV subscribers and 2.06 million SLING TV subscribers. This increase in net Pay-TV losses resulted from the increase in net DISH TV subscriber losses due to lower gross new DISH TV subscriber activations and a higher DISH TV churn rate, offset by the decrease in net SLING TV subscriber losses due to lower subscriber disconnects in 2023 as a result of our emphasis on acquiring higher-quality subscribers.Retail Wireless net subscribers decreased by approximately 123,000 in the fourth quarter, compared to a net decrease of 25,000 in the year-ago quarter. The company closed the quarter with 7.38 million Retail Wireless subscribers. This increase in net Retail Wireless subscriber losses primarily resulted from lower gross new Retail Wireless subscriber activations, partially offset by a lower Retail Wireless churn rate due to our emphasis on acquiring and retaining higher-quality subscribers.Broadband net subscribers decreased by approximately 59,000 in the fourth quarter, compared to a decrease of 57,000 in the year-ago quarter. The company closed the quarter with 1.00 million Broadband subscribers. This increase in net Broadband subscriber losses primarily resulted from our capacity limitations, competitive pressure from satellite-based competitors and other technologies, and a more selective customer screening. The EchoStar XXIV satellite, also known as Jupiter 3, began service in December 2023, bringing additional broadband capacity and is expected to be an integral part of the Broadband and Satellite Services segment business.

Set forth below is a table highlighting certain of EchoStar’s segment results for the three and twelve months ended December 31, 2023 and 2022 (all U.S. GAAP amounts reference results from operations):

For the three months ended
December 31,

For the years ended
December 31,

2023

2022

2023

2022

(in thousands)

Revenue

Pay-TV

$     2,816,787

$    3,106,149

$   11,571,159

$  12,505,392

Retail Wireless

898,284

928,095

3,692,372

4,135,129

5G Network Deployment

24,027

17,406

91,928

65,768

Broadband and Satellite Services

449,779

499,857

1,755,559

1,998,093

All Other & Eliminations

(26,281)

(18,490)

(95,420)

(70,136)

Total

$     4,162,596

$    4,533,017

$   17,015,598

$  18,634,246

Net Income (loss) attributable to EchoStar

$    (2,029,882)

$      984,264

$    (1,702,057)

$    2,477,720

Purchases of property and equipment, net of refunds and other receipts (including capitalized interest related to regulatory authorizations)

Pay-TV

$         75,212

$        39,835

$        242,736

$       131,093

Retail Wireless

$                   –

$                    –

$                   –

5G Network Deployment

$       841,522

1,084,441

$     3,748,624

$    3,580,518

Broadband and Satellite Services

$         61,172

76,517

$        233,423

$       325,891

All Other & Eliminations

$                   –

(560)

$                    –

$         (2,721)

Total 

$       977,906

$    1,200,233

$     4,224,783

$    4,034,781

 

Reconciliation of GAAP to Non-GAAP Measurement:

For the Year Ended December 31, 2023

Pay-TV

Retail
Wireless

5G Network
Deployment

Broadband
and
Satellite
Services


Eliminations

Consolidated

(In thousands)

Segment operating income (loss)

$

2,699,810

$

(643,184)

$

(1,881,369)

$

(458,609)

$

5,443

$

(277,909)

Depreciation and amortization

381,292

221,968

620,685

419,262

(45,284)

1,597,923

OIBDA

$

3,081,102

$

(421,216)

$

(1,260,684)

$

(39,347)

$

(39,841)

$

1,320,014

For the Year Ended December 31, 2022

 Pay-TV

 Retail
Wireless

 5G Network
Deployment

 Broadband
and
Satellite
Services


Eliminations

 Consolidated 

 (In thousands)

Segment operating income (loss)

$

2,933,898

$

(77,264)

$

(810,968)

$

181,615

$

5,557

$

2,232,838

Depreciation and amortization

428,471

177,914

131,566

462,748

(25,804)

1,174,895

OIBDA

$

3,362,369

$

100,650

$

(679,402)

$

644,363

$

(20,247)

$

3,407,733

For the three months Ended December 31, 2023

Pay-TV

Retail
Wireless

5G Network
Deployment

Broadband
and
Satellite
Services


Eliminations

Consolidated

(In thousands)

Segment operating income (loss)

$

714,319

(344,312)

(682,701)

(540,152)

720

(852,127)

Depreciation and amortization

95,145

53,371

235,615

107,466

(9,273)

482,325

OIBDA

$

809,464

$

(290,941)

$

(447,087)

$

(432,686)

$

(8,553)

$

(369,803)

For the three months Ended December 31, 2022

 Pay-TV

 Retail
Wireless

 5G Network
Deployment

 Broadband
and
Satellite
Services


Eliminations

 Consolidated 

 (In thousands)

Segment operating income (loss)

$

748,729

(118,424)

(254,963)

50,418

1,753

427,513

Depreciation and amortization

100,398

50,534

53,914

111,115

(8,093)

307,869

OIBDA

$

849,127

$

(67,891)

$

(201,048)

$

161,533

$

(6,339)

$

735,382

 

Note on Use of Non-GAAP Financial Measures

OIBDA is defined as “Operating income (loss)” plus “Depreciation and amortization.”

OIBDA, which is presented by segment above, is a non-GAAP measure reconciled to “Operating income (loss)” and does not purport to be an alternative to operating income (loss) as a measure of operating performance. We believe this measure is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments on a more variable cost basis as it excludes the depreciation and amortization expenses related primarily to capital expenditures and acquisitions for those business segments, as well as in evaluating operating performance in relation to our competitors.

The consolidated financial statements of EchoStar for the periods ended December 31, 2023, are attached to this press release. Detailed financial data and other information are available in EchoStar’s Annual Report on Form 10-K for the period ended December 31, 2023, filed today with the Securities and Exchange Commission.

EchoStar will host a conference call to discuss its earnings on Friday, March 1, 2024, at noon Eastern Time. The conference call will be broadcast live in listen-only mode on EchoStar’s investor relations website at ir.echostar.com. To attend the call, please dial: (877) 484-6065 (U.S.) or (201) 689-8846. When prompted on dial-in, please utilize the conference ID (13744790) or ask for the “EchoStar Corporation Q4 and Full Year 2023 Earnings Conference Call.” Please dial in at least 10 minutes before the call to ensure timely participation.

About EchoStar Corporation

EchoStar Corporation (Nasdaq: SATS) is a premier provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator and government solutions worldwide under its EchoStar®, Boost Mobile®, Boost Infinite, Sling TV, DISH TV, Hughes®, HughesNet®, HughesON™, and JUPITER™ brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary and in Australia, the company operates as EchoStar Global Australia. For more information, visit www.echostar.com and follow EchoStar on X (Twitter) and LinkedIn.

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,” “goal,” “seek,” “estimate,” “expect,” “intend,” “project,” “continue,” “future,” “will,” “would,” “can,” “may,” “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, 2023 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.

ECHOSTAR CORPORATION

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share amounts)

As of  

 December 31, 

December 31,

2023

2022

Assets

Current Assets:

Cash and cash equivalents

$

1,821,376

$

2,497,536

Marketable investment securities

623,044

1,809,898

Trade accounts receivable, net of allowance for credit losses of $74,390
and $59,790, respectively

1,122,139

1,182,597

Inventory

665,169

625,979

Prepaids and other assets

644,005

617,819

Other current assets

16,081

23,884

Total current assets

4,891,814

6,757,713

Noncurrent Assets:

Restricted cash, cash equivalents and marketable investment securities

118,065

117,011

Property and equipment, net

9,561,834

7,904,957

Regulatory authorizations, net

38,572,980

37,395,604

Other investments, net

314,370

524,905

Operating lease assets

3,065,448

2,823,834

Intangible assets, net

172,892

1,113,298

Other noncurrent assets, net

411,491

2,110,959

Total noncurrent assets

52,217,080

51,990,568

Total assets

$

57,108,894

$

58,748,281

Liabilities and Stockholders’ Equity (Deficit)

Current Liabilities:

Trade accounts payable

$

774,011

$

1,023,537

Deferred revenue and other

754,658

833,213

Accrued programming

1,427,762

1,298,777

Accrued interest

297,678

298,043

Other accrued expenses and liabilities

1,717,826

1,436,485

Current portion of long-term debt and finance lease obligations

3,046,654

1,552,559

Total current liabilities

8,018,589

6,442,614

Long-Term Obligations, Net of Current Portion:

Long-term debt and finance lease obligations, net of current portion

19,717,266

21,343,561

Deferred tax liabilities, net

5,014,309

5,354,756

Operating lease liabilities

3,121,307

2,808,774

Long-term deferred revenue and other long-term liabilities

849,131

748,384

Total long-term obligations, net of current portion

28,702,013

30,255,475

Total liabilities

36,720,602

36,698,089

Commitments and Contingencies

Redeemable noncontrolling interests

438,382

464,359

Stockholders’ Equity (Deficit):

Class A common stock, $0.001 par value, 1,600,000,000 shares authorized,
140,153,020 and 138,128,368 shares issued and outstanding, respectively

140

138

Class B common stock, $0.001 par value, 800,000,000 shares authorized,
131,348,468 shares issued and outstanding

131

131

Additional paid-in capital

8,301,979

8,222,599

Accumulated other comprehensive income (loss)

(160,056)

(175,267)

Accumulated earnings (deficit)

11,737,983

13,440,040

Total EchoStar stockholders’ equity (deficit)

19,880,177

21,487,641

Noncontrolling interests

69,733

98,192

Total stockholders’ equity (deficit)

19,949,910

21,585,833

Total liabilities and stockholders’ equity (deficit)

$

57,108,894

$

58,748,281

 

ECHOSTAR CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in thousands, except per share amounts)

For the Years Ended December 31,

2023

2022

2021

Revenue:

Service and other revenue

$

16,145,763

$

17,596,265

$

18,598,313

Equipment sales and other revenue

869,835

1,037,981

1,220,365

Total revenue

17,015,598

18,634,246

19,818,678

Costs and Expenses (exclusive of depreciation and amortization):

Cost of services

9,510,427

10,111,341

10,717,333

Cost of sales – equipment and other

2,434,904

2,099,136

1,778,471

Selling, general and administrative expenses

2,989,154

3,015,325

2,686,279

Depreciation and amortization

1,597,923

1,174,895

1,213,946

Impairment of long-lived assets and goodwill

761,099

711

245

Total costs and expenses

17,293,507

16,401,408

16,396,274

Operating income (loss)

(277,909)

2,232,838

3,422,404

Other Income (Expense):

Interest income, net

207,374

93,240

33,903

Interest expense, net of amounts capitalized

(90,357)

(79,217)

(111,151)

Other, net

(1,770,792)

1,088,441

4,716

Total other income (expense)

(1,653,775)

1,102,464

(72,532)

Income (loss) before income taxes

(1,931,684)

3,335,302

3,349,872

Income tax (provision) benefit, net

296,860

(798,410)

(828,437)

Net income (loss)

(1,634,824)

2,536,892

2,521,435

Less: Net income (loss) attributable to noncontrolling interests, net of tax

67,233

59,172

35,150

Net income (loss) attributable to EchoStar

$

(1,702,057)

$

2,477,720

$

2,486,285

Weighted-average common shares outstanding – Class
A and B common stock:

Basic

270,842

270,102

275,117

Diluted

270,842

307,733

313,122

Earnings per share – Class A and B common stock:

Basic net income (loss) per share attributable to EchoStar

$

(6.28)

$

9.17

$

9.04

Diluted net income (loss) per share attributable to EchoStar

$

(6.28)

$

8.05

$

7.94

 

ECHOSTAR CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

For the Years Ended December 31,

2023

2022

2021

Cash Flows From Operating Activities:

Net income (loss)

$

(1,634,824)

$

2,536,892

$

2,521,435

Adjustments to reconcile net income (loss) to net cash flows from operating activities:

Depreciation and amortization

1,597,923

1,174,895

1,213,946

Impairment of long-lived assets and goodwill

761,099

711

245

Realized and unrealized losses (gains) on investments, impairments and other

(46,888)

(72,371)

(7,541)

Realized and unrealized losses (gains) on derivatives

1,693,387

(1,015,387)

13,000

Non-cash, stock-based compensation

51,514

82,994

59,379

Deferred tax expense (benefit)

(337,222)

729,587

639,708

Changes in allowance for credit losses

14,600

6,590

(34,635)

Change in long-term deferred revenue and other long-term liabilities

15,825

83,453

65,943

Other, net

166,383

253,784

135,871

Changes in current assets and current liabilities, net

Trade accounts receivable

20,622

(74,812)

206,995

Prepaid and accrued income taxes

15,836

(36,115)

81,197

Inventory

(37,981)

16,200

(175,918)

Other current assets

(40,290)

21,737

(47,144)

Trade accounts payable

4,108

90,721

86,219

Deferred revenue and other

(78,555)

(71,709)

(62,034)

Accrued programming and other accrued expenses

267,110

(105,980)

(41,293)

Net cash flows from operating activities

2,432,647

3,621,190

4,655,373

Cash Flows From Investing Activities:

Purchases of marketable investment securities

(2,407,546)

(1,965,859)

(6,338,641)

Sales and maturities of marketable investment securities

3,710,544

4,159,830

4,390,903

Purchases of property and equipment

(3,100,921)

(3,050,472)

(1,619,312)

Refunds and other receipts of purchases of property and equipment

38,611

Capitalized interest related to regulatory authorizations

(1,162,473)

(984,309)

(777,885)

Proceeds from other debt investments

148,448

Refund of regulatory authorizations deposit

337,490

Purchases of regulatory authorizations, including deposits

(2,009)

(7,206,865)

(122,657)

Other, net

(33,386)

(11,900)

(116,621)

Net cash flows from investing activities

(2,808,732)

(9,059,575)

(4,246,723)

Cash Flows From Financing Activities:

Repayment of long-term debt and finance lease obligations

(121,981)

(86,229)

(89,958)

Redemption and repurchases of senior notes

(1,460,635)

(2,056,821)

(2,901,818)

Proceeds from issuance of senior notes

1,500,000

2,000,000

6,750,000

Repurchases of convertible notes

(182,834)

Early debt extinguishment gains (losses)

73,024

Net proceeds from Class A common stock options exercised and stock issued under the
Employee Stock Purchase Plan

10,598

27,438

68,182

Purchase of Northstar Manager, LLC’s ownership interest in Northstar Spectrum

(109,432)

Treasury share repurchase

(89,303)

(261,436)

Debt issuance costs and debt (discount) premium

21,635

(51,121)

(34,459)

Other, net

(7,496)

(18,413)

(15,507)

Net cash flows from financing activities

(277,121)

(274,449)

3,515,004

Effect of exchange rates on cash and cash equivalents

3,004

(2,306)

(3,749)

Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents

(650,202)

(5,715,140)

3,919,905

Cash, cash equivalents, restricted cash and cash equivalents, beginning of period

2,561,803

8,276,943

4,357,038

Cash, cash equivalents, restricted cash and cash equivalents, end of period

$

1,911,601

$

2,561,803

$

8,276,943

 

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SOURCE EchoStar Corporation

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Technology

Rently Secures $3M Pre-Series A Investment Led by Orange Bloom to Revolutionise the Asian Rental Market

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SINGAPORE, May 13, 2025 /PRNewswire/ — Rently, a Singapore-based prop-tech platform that lets tenants rent deposit-free while paying landlords on time every month, has closed a US$3 million Pre-Series A led by impact investor Orange BloomHustle Fund, Woh Hup, Feedback Ventures, and 5i Ventures re-upped in the round, which values Rently at US$43 million.

Following this success, Rently is now targeting the close of its Series A funding round by the end of the year, positioning itself to further expand its market footprint and accelerate product development.

Rently: Redefining the Asian Rental Market

Founded in 2022, Rently is now establishing in the UAE and will enter Hong Kong this year. The long-term rental market across Asia is worth more than US$250 billion annually and largely still relies on security deposits and manual processes. Rently is transforming the industry through technology and innovative solutions such as:

Zero deposits, zero friction – Tenants subscribe to Rently Care and move in without locking up two months’ cash.Guaranteed income – Rently Pay ensures landlords receive the full rent on the due date, even if a tenant pays late or defaults.Fully managed – The Rently app covers listings process, contracts, maintenance and insurance in one seamless platform.

Nikesh Kshirsagar, Co-Founder of Orange Bloom, said, “Rently isn’t just another tech startup, it has a deep understanding of future lifestyle trends, strategic corporate partnerships, and a world-class tech platform that simplifies the rental process for users. Orange Bloom firmly believes that Rently is positioned to reshape the rental market, creating efficiencies while integrating responsible, sustainable housing solutions. The co-founders, Dominic, Siebren, Tarik, Emeric, and Kutlay, have done an excellent job assembling a talented, forward-thinking team where innovation thrives. We look forward to being part of Rently’s exciting journey ahead.”

Fund Allocation and Growth Plans

With the proceeds from the Pre-Series A round, Rently plans to accelerate its expansion strategy by scaling Rently Pay across its existing markets, ensuring more landlords benefit from guaranteed, on-time rental income. The company will also localise its platform to support market entry into Hong Kong and two additional Asian cities. To support this development, Rently is also doubling the size of its product and data teams to ensure the platform can scale efficiently.

Dominic Schacher, Co-Founder of Rently, expressed his enthusiasm for the next phase of growth, stating, “We are thrilled to welcome Orange Bloom as our strategic partner. Their investment and expertise will be instrumental in accelerating our growth and expanding our product offerings. Together, we will continue revolutionising the rental market, making it more efficient, transparent, and accessible for everyone.”

Existing investor 5i Ventures also reaffirmed its support for Rently’s development. Dieter Schlosser, General Partner of 5i Ventures, Board Member, and Key Investor in Rently, shared his perspective on the round’s success. “The oversubscription of this round is a proof point of the trajectory Rently, and the leadership team have demonstrated. We are very excited to have the new investors on board. The first data points from our geographic expansion to the UAE clearly show the portability of the business model and the scalability of the platform,” said Schlosser, who previously served as CEO of SoftwareONE.

Orange Bloom’s Role and Strategic Partnership

The partnership between Rently and Orange Bloom highlights the influence of impact-driven investment in reshaping industries and demonstrates how strategic investments can drive systemic change in traditional sectors. Orange Bloom’s entry into the proptech and fintech spaces through its investment in Rently reinforces its ongoing commitment to supporting sustainable-focused business models. The collaboration aligns closely with Orange Bloom’s Sustainability Fund, which has been active since 2022 and has backed numerous projects focused on sustainability and social impact. Through initiatives like the Sustainability Fund and future investments, Orange Bloom aims to empower a new generation of entrepreneurs who are shaping a more equitable and sustainable world.

To learn more about Rently’s innovative rental solutions or partnership opportunities, please visit www.rently.sg.

About Rently

Rently Pte Ltd is a Singapore-based fintech startup dedicated to transforming the property rental market. Offering deposit-free rental options through its Rently Care subscription and providing integrated property management services via the Rently app, the platform ensures that property listings are accessible, flexible, and secure. Designed to connect potential tenants with landlords, agents, and enterprises in a seamless and effective way, Rently is committed to making the renting process more transparent, safe, and efficient. Rently is a subsidiary of REFIN Group Limited.

 

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SOURCE Rently

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Startek® wins CII-CWL Award for Gender Parity in Business

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– Recognized for advancing workplace gender equality through inclusive policies and people-first practices

MUMBAI, India, May 14, 2025 /PRNewswire/ — Startek®, a digital-first global customer experience (CX) solutions provider, has been honored with the prestigious CII – Centre on Women Leadership (CWL) Award for Gender Parity in Business. This recognition underscores the Startek commitment to fostering a diverse, equitable and inclusive workplace, with a sharp focus on gender equality as a driver of organizational excellence.

“At Startek, we view inclusion as a competitive advantage that fuels innovation and resilience,” said SM Gupta, Global Chief People Officer, Startek. “This recognition from CII and CWL reflects how embedding gender parity into business strategy strengthens our ability to lead in a rapidly evolving global marketplace.”

The evaluation process for this accolade was both rigorous and comprehensive. It encompassed a four-stage assessment that began with an in-depth submission detailing the company’s people-centric practices. This was followed by focus group discussions with returning mothers and mid-level women managers, offering valuable insight into lived experiences. Key informant interviews added further depth, before a final review by an expert jury panel.

Winning this award highlights Startek’s continued leadership in shaping inclusive workplaces where equitable access to career growth, flexible work models, and intentional leadership development programs form the backbone of its DEI framework.

About CII-CWL Awards:
The Confederation of Indian Industry (CII), in partnership with the Centre on Women Leadership (CWL)—a joint initiative supported by The Bill and Melinda Gates Foundation—presents this award to organizations driving transformative change in gender balance across corporate India.

About Startek
Startek® is a global leader in customer experience management, delivering comprehensive digital transformation and CX solutions. With over 35 years of expertise, Startek empowers businesses across diverse industries to create memorable, personalized customer interactions. Operating in 12 countries with a team of 38,000 associates, Startek is committed to connecting brands with their customers through innovation, empathy, and operational excellence.
To learn more, visit www.startek.com and follow us on LinkedIn@Startek.

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View original content:https://www.prnewswire.com/in/news-releases/startek-wins-cii-cwl-award-for-gender-parity-in-business-302454882.html

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FalconX and Standard Chartered Announce Strategic Partnership

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SINGAPORE, May 14, 2025 /PRNewswire/ — FalconX, the leading institutional digital asset prime broker, today announces a strategic partnership with Standard Chartered, a leading international cross-border banking group. In the first phase of the partnership, Standard Chartered will provide a comprehensive suite of banking services to FalconX globally, further strengthening the platform’s offerings for institutional clients. The engagement will expand to include a broader range of offerings and mutual opportunities.

Through this collaboration, FalconX will initially integrate Standard Chartered’s banking infrastructure and access to an extensive range of currency pairs, enhancing the speed, scale, and reliability of cross-border settlement for its institutional client base. This continues FalconX’s efforts to bridge the gap between traditional finance and digital assets with enterprise-grade infrastructure.

Matt Long, General Manager, APAC & Middle East at FalconX, commented: “We are pleased to partner with Standard Chartered, one of the most forward-thinking global banks in digital asset adoption. At FalconX, we support trading and financing for some of the world’s largest institutions in digital asset markets, and this relationship strengthens our ability to deliver robust banking and FX solutions to clients who rely on us to operate in crypto markets.”

As FalconX continues to grow its global footprint, the partnership is expected to expand beyond banking into additional products and services tailored to the evolving needs of FalconX’s and Standard Chartered’s institutional clients — including asset managers, hedge funds, token issuers, and payment platforms.

Luke Boland, Head of Fintech, ASEAN, South Asia & GCNA at Standard Chartered, added: “Our collaboration with FalconX underscores our commitment to advancing the digital asset ecosystem. As institutional demand for digital assets continues to grow, we’re proud to provide the banking infrastructure that enables firms like FalconX to deliver world-class trading and financing solutions to institutional clients.”

Notes to editors

FalconX

FalconX is a leading digital asset prime brokerage for the world’s top institutions. We provide comprehensive access to global digital asset liquidity and a full range of trading services. Our 24/7 dedicated team for account, operational and trading needs enables investors to navigate markets around the clock. FalconX Bravo, Inc., a FalconX affiliate, was the first CFTC-registered swap dealer focused on cryptocurrency derivatives.

‍The company is backed by investors including Accel, Adams Street Partners, Altimeter Capital, American Express Ventures, B Capital, GIC, Lightspeed Venture Partners, Sapphire Ventures, Thoma Bravo, Tiger Global Management and Wellington Management.

FalconX has offices in Silicon Valley, New York, London, Hong Kong, Bengaluru, Singapore, and Valletta. For more information visit falconx.io or follow FalconX on X and LinkedIn.

Standard Chartered

We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

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SOURCE FalconX

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