📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Sirius XM Holdings Inc. operates as an audio entertainment company in North America.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding SIRI

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Manager	Shares	Value	% of Fund	Period
Warren Buffett Berkshire Hathaway Inc	108.82M	$2.5B	0.95%	Mar 2026
Warren Buffett Berkshire Hathaway Inc	15.98M	$368.9M	0.14%	Mar 2026
Steve Cohen Point72 Asset Management	355.1K	$8.2M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management used phrases like 'great progress', 'meaningful value', 'strong financial discipline', 'healthy margins', and 'confident we are on the right path'. They provided specific metrics (e.g., self-pay net adds improved by 32,000, podcast revenue up nearly 50%) and detailed initiatives (e.g., new Stephen A. Smith deal, SiriusXM Play launch, cost savings target of $200M). The tone was upbeat but grounded in concrete numbers and actions.

Q3 2025

Confident Specific

Management uses phrases like 'solid financial results', 'positive early indicators', 'increasing guidance by $25 million', and highlights specific milestones such as 'podcast network is now the largest in the nation' and 'free cash flow up from $93 million to $257 million'. The language is precise and forward-looking.

Q4 2025

Confident Specific

The tone is confident and specific as management highlights exceeding guidance, growing free cash flow, and delivering strong Q4 results. Phrases like 'exceeded our revised guidance', 'strong Q4 results', and 'grew free cash flow year-over-year' reinforce a positive and assured narrative.

Q1 2026 latest

Confident Specific

Management used specific numbers to back claims (e.g., '192,000 improvement in self-pay net adds', '$45 million toward $100 million cost savings target', 'first quarter churn of 1.5%') and repeatedly called execution 'strong' and 'disciplined'.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. Management delivered solid Q1 results with record low churn and higher ARPU, while also announcing a transformative YouTube partnership that could significantly scale the advertising business. Free cash flow generation is accelerating, and cost savings are on track. However, the YouTube opportunity will not ramp until 2027, and subscriber growth remains modestly lower year-over-year. Key items to watch next quarter: conversion trends in the OEM funnel, the pace of 360L rollout, and any further clarity on spectrum monetization or YouTube economics.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED SiriusXM Q1 2026: Revenue $2.09B, Adj EBITDA $666M, free cash flow $171M

Revenue & Profitability

First quarter 2026 revenue was $2.09 billion, up 1% year-over-year. Net income rose 20% to $245 million, and adjusted EBITDA grew 6% to $666 million. Free cash flow more than tripled to $171 million. Earnings per diluted share increased 22% to $0.72. ARPU improved 1% to $14.99.

Outlook

Management reaffirmed full-year 2026 guidance of relatively flat revenue and stable adjusted EBITDA, with modestly lower self-pay net additions compared to 2025. They expect continued free cash flow growth to approximately $1.35 billion in 2026, with a path to $1.5 billion in 2027. The company remains cautious about the auto sales environment and potential macro headwinds, but sees strong fundamentals in its subscription model.

Growth Drivers

Key growth levers include companion subscriptions, which added 124,000 incremental self-pay net additions in Q1, and continuous service initiatives and auto dealer extended duration plans. Advertising revenue grew 3% driven by a 37% increase in podcasting ad revenue and programmatic demand more than doubling through Google's DV360. The new YouTube partnership, launching in fall 2026, is expected to be a significant growth driver in 2027 and beyond.

Balance Sheet & CapEx

Capital expenditures were $105 million in Q1 2026, down from $189 million in the prior year, primarily due to lower satellite spend. The company expects non-satellite CapEx of approximately $400-$415 million for the full year. It recorded $3 million of incremental non-cash depreciation from decommissioning the FM-6 satellite (total $60 million in 2026), with no impact on free cash flow. A next-generation satellite is being completed, after which CapEx is expected to step down.

Margins

Adjusted EBITDA margin expanded 140 basis points year-over-year to 31.9% in Q1 2026. The company captured $45 million toward its goal of $100 million in gross cost savings for the year, including $27 million in operating expense savings and $18 million in CapEx savings. SiriusXM segment gross margin was 61%, while Pandora and off-platform gross margin was approximately 28%, down slightly from 29% a year ago.

Key Risks

Management flagged a more measured auto sales environment, which could impact trial volumes. Lower conversion rates among younger car purchasers and used car buyers were noted. The company is mindful of macro headwinds, including gas prices and consumer pressure. Spectrum monetization is dependent on regulatory obligations, technology migration, and partner timing. The YouTube partnership is expected to ramp in 2027, with no material impact in 2026.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

🔍

🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-30

Q2 2026 saw revenue and subscriber growth, record-low churn, and strong advertising momentum, leading to raised full-year guidance. Higher memory costs are a headwind, but disciplined execution, new content offerings, and capital returns support long-term growth.

Q1 2026 Q1 2026 2026-04-30

Strong Q1 2026 results with 1% revenue growth, 6% higher adjusted EBITDA, and record-low churn. Expanded advertising reach through a major YouTube partnership and reaffirmed stable full-year guidance, with continued focus on efficiency and free cash flow growth.

Q4 2025 Q4 2025 2026-02-05

Q4 and full-year 2025 results exceeded guidance, with revenue at $8.56B, Adjusted EBITDA at $2.67B, and free cash flow at $1.26B. Podcasting ad revenue surged 41% year-over-year, and cost savings targets were surpassed. 2026 guidance calls for flat revenue and EBITDA, with higher free cash flow.

Q3 2025 Q3 2025 2025-10-30

Q3 revenue was $2.16B, flat year-over-year, with Adjusted EBITDA of $676M and net income of $297M. Guidance for 2025 was raised across revenue, Adjusted EBITDA, and free cash flow, driven by cost savings, strong ad growth in podcasting, and new subscriber initiatives.

Q2 2025 Q2 2025 2025-07-31

Q2 saw improved subscriber trends, strong podcast growth, and disciplined cost management, despite a 2% revenue decline. Free cash flow rose 27%, and full-year guidance was reaffirmed, with advertising market challenges remaining the key risk.

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