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Sirius XM SIRI Pandora and Off-platform — Segment gross profit

Other segment segments

SiriusXM
$981M+1.6%

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Other financials

Income statement

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Revenue$2.2B+1.0%
Gross profit$1.2B-2.8%
Operating income$472.0M+29.3%
Net income$239.0M+16.6%
EPS (diluted)$0.70+22.8%

Balance sheet

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Cash & equivalents$174.0M+89.1%
Total debt$9.5B-7.3%
Total equity$11.9B+5.1%
Total assets$27.2B-0.5%

Cash flow

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Operating cash flow$722.0M+32.2%
CapEx$130.0M-10.3%
Free cash flow$592.0M+47.6%

Valuation

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Market cap$10.35B+46.5%
Enterprise value$19.63B+14.3%
P/E11.8×
P/S1.2×+0.4×

Profitability

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Gross margin53.5%-0.3pp
Operating margin19.1%
Net margin10.2%
FCF margin18%+6.4pp

Returns & leverage

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Return on equity7.6%
Debt / equity0.8×-0.1×
Current ratio0.5×+0.1×

Where this comes from

Reported directly by Sirius XM in its filing.

Tagged under the XBRL concept us-gaap:GrossProfit.

The source filing: Sirius XM’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 9:45 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000908937-26-000022
Line itemFor the Three Months Ended June 30, 2026 / Sirius XMFor the Three Months Ended June 30, 2026 / Pandora and Off-platformTotal
Other revenue6868
Total revenue1,6175432,160
Cost of services
Revenue share and royalties(382)(340)(722)
Programming and content (a)(124)(13)(137)
Other (a)(b)(130)(27)(157)
Total cost of services(636)(380)(1,016)
Segment gross profit$981$163$1,144

Item 1. Financial Statements (unaudited)

FAQ

What is Sirius XM's pandora and off-platform — segment gross profit?
Sirius XM (SIRI) reported pandora and off-platform — segment gross profit of $163M in Q2 2026.
How has Sirius XM's pandora and off-platform — segment gross profit changed year-over-year?
Sirius XM's pandora and off-platform — segment gross profit increased by 5.8% year-over-year, from $154M to $163M.
What is the long-term trend for Sirius XM's pandora and off-platform — segment gross profit?
Over 4 years (2021 to 2025), Sirius XM's pandora and off-platform — segment gross profit has grown at a -2.5% compound annual growth rate (CAGR), from $744M to $671M.
What does pandora and off-platform — segment gross profit mean?
This is the profit remaining after subtracting direct costs of services from the total revenue of the Pandora and off-platform segment. It measures the profitability of the segment's core business model before accounting for corporate overhead, marketing, or R&D. It is a vital indicator of the segment's ability to cover its direct costs and contribute to overall company earnings.

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