Sirius XM Holdings Inc. 10-K Report Released

By Chris Stiles • Thursday, February 05 17:18 • Permanent Link

Sirius XM Holdings Inc. has recently released its 10-K report, providing a detailed look at the company's financial performance and operations. The company operates as an audio entertainment business in North America, with two main segments: Sirius XM and Pandora and Off-platform.

The Sirius XM segment provides a wide range of content, including music, sports, entertainment, comedy, talk, and news channels, as well as podcast and infotainment services on a subscription fee basis. It also offers live, curated, and exclusive programming services through satellite radio systems and streamed applications for mobile and home devices. Additionally, the company distributes satellite radios through automakers and retailers, sells radios and accessories, and provides location-based services through two-way wireless connectivity.

The Pandora and Off-platform segment operates a highly personalized audio entertainment platform, offering customized stations, playlists, and on-demand search and playback of songs and albums. Revenue is generated primarily from advertising on the ad-supported radio service and subscription revenue from Pandora Plus and Pandora Premium subscribers.

In terms of financial performance, for the year ended December 31, 2025, SiriusXM's total revenue was $8.56 billion, a 2% decrease from the previous year. SiriusXM subscriber revenue decreased by 2% to $5.96 billion, while advertising revenue decreased by 6% to $157 million. Pandora and Off-platform revenue remained relatively flat at $2.14 billion.

In terms of costs, SiriusXM's total operating expenses decreased by 31% to $7.09 billion, primarily due to a significant reduction in impairment, restructuring, and other costs compared to the previous year. The company reported a net income of $805 million for the year ended December 31, 2025, compared to a net loss of $2.08 billion in the previous year.

Looking ahead, SiriusXM expects its subscriber revenues to remain relatively flat, with higher average revenue per user offsetting declines in the number of average subscribers. The company also anticipates growth in advertising revenue as it continues to leverage co-selling initiatives across its brands and platforms.

Today the company's shares have moved -2.2% to a price of $20.45. If you want to know more, read the company's complete 10-K report here.

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