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Sirius XM SIRI Equipment revenue — Cost of Services

Other product segments

Revenue share and royalties
$697M+1.5%
Programming and content
$150M-2.0%
Customer service and billing
$105M-5.4%
Transmission
$47M-6.0%

Similar metrics at other companies

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GSATSubscriber equipment sales — Cost of goods and services
$2.47M+20.5%
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TOSTHardware and professional services — Cost of revenue
$111M+19.4%
Tyler Technologies logo
TYLHardware and other — Total cost of revenues
$6.41M+10.9%
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TOSTHardware — Cost of revenue
$58M+11.5%
RB Global logo
RBAInventory sales revenue — Direct expenses
$306.7M+30.5%
Illumina logo
ILMNService and other revenue — Cost of revenue
$99M+43.5%

Other financials

Income statement

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Revenue$2.1B+1.1%
Gross profit$1.2B-2.8%
Operating income$454.0M+17.3%
Net income$245.0M+20.1%
EPS (diluted)$0.72+22.0%

Balance sheet

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Cash & equivalents$75.0M-40.9%
Total debt$9.8B-6.9%
Total equity$11.7B+4.6%
Total assets$27.1B-1.0%

Cash flow

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Operating cash flow$271.0M+12.0%
CapEx$105.0M-44.4%
Free cash flow$166.0M+213%

Valuation

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Market cap$9.44B+1.2%
Enterprise value$19.11B-3.2%
P/E11.2×
P/S1.1×0.0×

Profitability

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Gross margin53.5%-0.3pp
Operating margin17.9%
Net margin9.9%
FCF margin15.8%+4.5pp

Returns & leverage

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Return on equity7.4%
Debt / equity0.8×-0.1×
Current ratio0.4×0.0×

Where this comes from

Reported directly by Sirius XM in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization.

The official record: Sirius XM’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Sirius XM's equipment revenue — cost of services?
Sirius XM (SIRI) reported equipment revenue — cost of services of $2M in Q1 2026.
How has Sirius XM's equipment revenue — cost of services changed year-over-year?
Sirius XM's equipment revenue — cost of services decreased by 0.0% year-over-year, from $2M to $2M.
What is the long-term trend for Sirius XM's equipment revenue — cost of services?
Over 3 years (2022 to 2025), Sirius XM's equipment revenue — cost of services has grown at a -11.5% compound annual growth rate (CAGR), from $13M to $9M.
What does equipment revenue — cost of services mean?
The direct costs incurred to manufacture and support the equipment sold to customers.
How do you interpret equipment revenue — cost of services?
An increase relative to revenue suggests margin compression due to rising production or support costs, while a decrease indicates improved operational efficiency or lower manufacturing expenses.
How does equipment revenue — cost of services compare across companies?
Comparable to cost of goods sold (COGS) for hardware divisions in consumer electronics or subscription-based service providers.