Sirius XM SIRI Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total Revenue by Business | ||||||
| Pandora and Off-platform | $501M-13.9% | $582M+6.2% | $548M+4.6% | $524M+7.6% | $487M-14.3% | |
| SiriusXM | $1.59B-1.3% | $1.61B0.0% | $1.61B-0.2% | $1.61B+2.1% | $1.58B-2.4% | |
| Segment gross profit by Business | ||||||
| Pandora and Off-platform | $139M-33.2% | $208M+22.4% | $170M+10.4% | $154M+10.8% | $139M-28.4% | |
| SiriusXM | $966M+1.2% | $955M-0.3% | $958M-0.8% | $966M+3.1% | $937M-2.9% | |
| Finite-Lived Intangible Assets, Net by Business | ||||||
| Pandora and Off-platform | $46M-22.0% | $59M-18.1% | $72M-15.3% | $85M-13.3% | $98M-11.7% | |
| SiriusXM | $66M-13.2% | $76M-10.6% | $85M-10.5% | $95M-8.7% | $104M-8.8% | |
| Gross Carrying Value by Business | ||||||
| Pandora and Off-platform | $442M0.0% | $442M0.0% | $442M0.0% | $442M0.0% | $442M0.0% | |
| Sirius XM | $570M0.0% | $570M0.0% | $570M0.0% | $570M0.0% | $570M0.0% | |
| SiriusXM | $8.61B0.0% | $8.61B0.0% | $8.61B0.0% | $8.61B0.0% | $8.61B0.0% | |
| Cost of Goods and Service, Excluding Depreciation, Depletion, Amortization , And Share Based Compensation by Business | ||||||
| Pandora and Off-platform | $362M-3.2% | $374M-1.1% | $378M+2.2% | $370M+6.3% | $348M-7.0% | |
| SiriusXM | $624M-4.9% | $656M+0.5% | $653M+0.8% | $648M+0.6% | $644M-1.7% | |
| Finite-Lived Intangible Assets, Accumulated Amortization by Business | ||||||
| Pandora and Off-platform | $396M+3.4% | $383M+0.3% | $382M0.0% | $382M+0.3% | $381M+0.3% | |
| SiriusXM | $504M+2.0% | $494M+1.9% | $485M+2.1% | $475M+1.9% | $466M+2.2% | |
| Total Revenue by Product | ||||||
| Advertising revenue | $407M-17.1% | $491M+7.9% | $455M+5.3% | $432M+9.6% | $394M-17.6% | |
| Equipment revenue | $41M-14.6% | $48M+11.6% | $43M-6.5% | $46M+12.2% | $41M-2.4% | |
| Other revenue | $72M-5.3% | $76M+1.3% | $75M-2.6% | $77M+6.9% | $72M-6.5% | |
| Subscriber revenue | $1.61B-0.9% | $1.63B-0.2% | $1.63B0.0% | $1.63B+1.7% | $1.6B-1.9% | |
| Cost of Services by Product | ||||||
| Customer service and billing | $105M-3.7% | $109M-5.2% | $115M+5.5% | $109M-1.8% | $111M-0.9% | |
| Equipment revenue | $2M-33.3% | $3M+50.0% | $2M0.0% | $2M0.0% | $2M-33.3% | |
| Programming and content | $150M-6.8% | $161M+4.5% | $154M+2.0% | $151M-1.3% | $153M-1.3% | |
| Revenue share and royalties | $697M-3.2% | $720M-0.1% | $721M-0.1% | $722M+5.1% | $687M-4.2% | |
| Transmission | $47M0.0% | $47M-4.1% | $49M+8.9% | $45M-10.0% | $50M-5.7% | |
| Cost of Goods and Service, Excluding Depreciation, Depletion, Amortization , And Share Based Compensation by Product | ||||||
| Programming and content | $137M-9.9% | $152M+4.8% | $145M+2.8% | $141M-2.1% | $144M-0.7% | |
| Revenue share and royalties | $697M-3.2% | $720M-0.1% | $721M-0.1% | $722M+5.1% | $687M-4.2% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Sirius XM break its business down?
- Sirius XM (SIRI) reports total revenue by business across 2 parts — Pandora and Off-platform and SiriusXM. Each is extracted from the segment footnotes and tracked over time.
- Where does Sirius XM's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Sirius XM's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
