Sirius XM SIRI Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total Revenue by Business | ||||||
| Pandora and Off-platform | $501M+2.9% | $582M+2.5% | $548M+0.7% | $524M-2.6% | $487M-1.6% | |
| SiriusXM | $1.59B+0.6% | $1.61B-0.6% | $1.61B-1.0% | $1.61B-1.6% | $1.58B-5.2% | |
| Segment gross profit by Business | ||||||
| Pandora and Off-platform | $139M0.0% | $208M+7.2% | $170M-9.1% | $154M-14.4% | $139M-2.8% | |
| SiriusXM | $966M+3.1% | $955M-1.0% | $958M-1.1% | $966M-2.0% | $937M-5.6% | |
| Finite-Lived Intangible Assets, Net by Business | ||||||
| Pandora and Off-platform | $46M-53.1% | $59M-46.8% | $72M-41.9% | $85M-38.0% | $98M-34.7% | |
| SiriusXM | $66M-36.5% | $76M-33.3% | $85M-31.5% | $95M— | $104M— | |
| 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% | $570M— | $570M— | |
| SiriusXM | $8.61B0.0% | $8.61B0.0% | $8.61B+0.1% | $8.61B— | $8.61B— | |
| Cost of Goods and Service, Excluding Depreciation, Depletion, Amortization , And Share Based Compensation by Business | ||||||
| Pandora and Off-platform | $362M+4.0% | $374M0.0% | $378M+5.9% | $370M+3.4% | $348M-1.1% | |
| SiriusXM | $624M-3.1% | $656M+0.2% | $653M-0.8% | $648M-0.9% | $644M-4.5% | |
| Finite-Lived Intangible Assets, Accumulated Amortization by Business | ||||||
| Pandora and Off-platform | $396M+3.9% | $383M+0.8% | $382M+0.5% | $382M+0.8% | $381M+0.5% | |
| SiriusXM | $504M+8.2% | $494M+8.3% | $485M+8.7% | $475M— | $466M— | |
| Total Revenue by Product | ||||||
| Advertising revenue | $407M+3.3% | $491M+2.7% | $455M+1.1% | $432M-2.5% | $394M-2.0% | |
| Equipment revenue | $41M0.0% | $48M+14.3% | $43M0.0% | $46M-2.1% | $41M-18.0% | |
| Other revenue | $72M0.0% | $76M-1.3% | $75M-1.3% | $77M0.0% | $72M-10.0% | |
| Subscriber revenue | $1.61B+0.6% | $1.63B-0.4% | $1.63B-1.0% | $1.63B-1.7% | $1.6B-4.6% | |
| Cost of Services by Product | ||||||
| Customer service and billing | $105M-5.4% | $109M-2.7% | $115M+5.5% | $109M+1.9% | $111M-3.5% | |
| Equipment revenue | $2M0.0% | $3M0.0% | $2M0.0% | $2M0.0% | $2M0.0% | |
| Programming and content | $150M-2.0% | $161M+3.9% | $154M+2.7% | $151M+2.0% | $153M-2.5% | |
| Revenue share and royalties | $697M+1.5% | $720M+0.4% | $721M+2.0% | $722M+2.0% | $687M-2.3% | |
| Transmission | $47M-6.0% | $47M-11.3% | $49M-14.0% | $45M-21.1% | $50M-15.3% | |
| Cost of Goods and Service, Excluding Depreciation, Depletion, Amortization , And Share Based Compensation by Product | ||||||
| Programming and content | $137M-4.9% | $152M+4.8% | $145M+2.8% | $141M+1.4% | $144M-2.7% | |
| Revenue share and royalties | $697M+1.5% | $720M+0.4% | $721M+2.0% | $722M+2.0% | $687M-2.3% |
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.
