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Sirius XM SIRI Transmission costs — 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%
Equipment revenue
$2M0.0%

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FWONAOther Cost Of Subscriber Services — Cost Of Goods And Service Excluding Depreciation Depletion And Amortization

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 transmission costs — cost of services?
Sirius XM (SIRI) reported transmission costs — cost of services of $45M in Q1 2026.
How has Sirius XM's transmission costs — cost of services changed year-over-year?
Sirius XM's transmission costs — cost of services decreased by 6.3% year-over-year, from $48M to $45M.
What is the long-term trend for Sirius XM's transmission costs — cost of services?
Over 3 years (2022 to 2025), Sirius XM's transmission costs — cost of services has grown at a -3.7% compound annual growth rate (CAGR), from $208M to $186M.
What does transmission costs — cost of services mean?
The direct costs associated with transmitting audio content to subscribers through satellite and digital infrastructure.
How do you interpret transmission costs — cost of services?
An increase may indicate higher investment in network capacity or rising costs for satellite transponder leases, while a decrease may reflect improved operational efficiencies or reduced network maintenance requirements.
How does transmission costs — cost of services compare across companies?
Comparable to network delivery costs or bandwidth expenses for other digital media and telecommunications companies, though satellite-specific infrastructure costs are unique to the industry.