Sirius XM SIRI Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total Revenue by Business | ||||||
| Pandora and Off-platform | $2.16B+0.8% | $2.14B-0.2% | $2.13B-1.0% | $2.12B-1.5% | $2.14B-0.4% | |
| SiriusXM | $6.43B-0.6% | $6.42B-2.1% | $6.43B-3.4% | $6.44B-4.5% | $6.47B-5.2% | |
| Segment gross profit by Business | ||||||
| Pandora and Off-platform | $671M-4.1% | $671M-4.7% | $657M-6.7% | $674M-3.3% | $700M+4.6% | |
| SiriusXM | $3.85B-0.3% | $3.82B-2.5% | $3.83B-4.1% | $3.84B-5.7% | $3.86B-6.6% | |
| Finite-Lived Intangible Assets, Net by Business | ||||||
| Pandora and Off-platform | $262M-44.3% | $314M-39.8% | $366M-36.2% | $418M-33.2% | $470M-30.8% | |
| SiriusXM | $322M— | $360M— | $398M— | $437M— | —— | |
| Gross Carrying Value by Business | ||||||
| Pandora and Off-platform | $1.77B0.0% | $1.77B0.0% | $1.77B0.0% | $1.77B0.0% | $1.77B0.0% | |
| Sirius XM | $2.28B— | $2.28B— | $2.28B— | $2.28B— | —— | |
| SiriusXM | $34.44B— | $34.44B— | $34.44B— | $34.43B— | —— | |
| Cost of Goods and Service, Excluding Depreciation, Depletion, Amortization , And Share Based Compensation by Business | ||||||
| Pandora and Off-platform | $1.48B+3.3% | $1.47B+2.0% | $1.47B+2.4% | $1.45B+0.1% | $1.44B-1.5% | |
| SiriusXM | $2.58B-1.1% | $2.6B-1.5% | $2.6B-2.2% | $2.61B-2.5% | $2.61B-3.0% | |
| Finite-Lived Intangible Assets, Accumulated Amortization by Business | ||||||
| Pandora and Off-platform | $1.54B+1.5% | $1.53B+0.7% | $1.53B+1.0% | $1.52B+2.6% | $1.52B+5.5% | |
| SiriusXM | $1.96B— | $1.92B— | $1.88B— | $1.84B— | —— | |
| Total Revenue by Product | ||||||
| Advertising revenue | $1.79B+1.1% | $1.77B-0.1% | $1.76B-0.9% | $1.75B-1.7% | $1.77B-1.2% | |
| Equipment revenue | $178M+2.9% | $178M-2.2% | $172M-8.6% | $172M-11.1% | $173M-11.2% | |
| Other revenue | $300M-0.7% | $300M-3.2% | $301M-35.0% | $302M-28.1% | $302M-19.7% | |
| Subscriber revenue | $6.5B-0.6% | $6.49B-2.0% | $6.49B-3.1% | $6.51B-4.1% | $6.54B-4.6% | |
| Cost of Services by Product | ||||||
| Customer service and billing | $438M-0.2% | $444M+0.2% | $447M+1.8% | $441M-1.1% | $439M-5.0% | |
| Equipment revenue | $9M0.0% | $9M0.0% | $9M-5.3% | $9M-18.2% | $9M-28.0% | |
| Programming and content | $616M+1.7% | $619M+1.5% | $613M-0.6% | $609M-1.8% | $606M-3.0% | |
| Revenue share and royalties | $2.86B+1.5% | $2.85B+0.5% | $2.85B-0.1% | $2.83B-1.5% | $2.82B-2.8% | |
| Transmission | $188M-13.4% | $191M-15.5% | $197M-12.8% | $205M-8.1% | $217M+0.5% | |
| Cost of Goods and Service, Excluding Depreciation, Depletion, Amortization , And Share Based Compensation by Product | ||||||
| Programming and content | $575M+1.1% | $582M+1.6% | $575M+0.2% | $571M-1.4% | $569M-2.9% | |
| Revenue share and royalties | $2.86B+1.5% | $2.85B+0.5% | $2.85B+0.2% | $2.83B-0.9% | $2.82B-1.9% |
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.
