The earnings call reflects a mixed performance with strong growth in podcast ad revenue and successful cost savings initiatives overshadowed by revenue and EBITDA declines and challenges in the advertising market. Despite these challenges, the company is implementing strategic initiatives such as new subscription plans and content partnerships to drive future growth.

Company Guidance -

Q3 2025

In the second quarter of 2025, SiriusXM reported strong financial discipline with a revenue of $2.14 billion, down 2% from the previous year, and an adjusted EBITDA of $668 million, reflecting a margin of 31%. The company achieved a 27% increase in free cash flow to $402 million, attributed to payment timing, reduced capital expenditures, and the elimination of prior Liberty level overhead. SiriusXM also reported a year-over-year improvement in self-pay net adds for the fifth consecutive quarter, with an increase of 32,000 over the same period last year, driven by new acquisition initiatives and lower churn. While overall advertising revenue declined by 2% from the second quarter of 2024, podcast ad revenue surged by nearly 50%. Despite challenges in the ad market due to economic uncertainties, SiriusXM reaffirmed its 2025 full-year guidance, projecting approximately $8.5 billion in total revenue, $2.6 billion in adjusted EBITDA, and $1.15 billion in free cash flow. The company is optimistic about its future, focusing on subscription business growth, enhanced in-car experiences, and off-platform monetization.

Podcast Ad Revenue Growth

Podcast ad revenue climbed almost 50% year-over-year, signifying strong growth in this segment.

Improvement in Self-Pay Net Adds

Year-over-year improvement in self-pay net adds for the fifth quarter in a row, with Q2 improving by 32,000 over the same quarter last year.

Free Cash Flow Increase

Free cash flow rose 27% to $402 million, driven by timing of payments and lower capital expenditures.

Cost Savings Achievements

Expected to achieve approximately $200 million of gross savings within the period, with strong discipline and execution across the business.

New Subscription Initiatives and Partnerships

Introduction of SiriusXM Play for ad-supported subscriptions, and new agreements with Stephen A. Smith and other creators to enhance content offerings.

Sirius XM Holdings (SIRI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SIRI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	0.79 / -	-8.74	―	―	―
Jul 31, 2025	2025 (Q2)	0.77 / 0.57	0.8	-28.75% (-0.23)
May 01, 2025	2025 (Q1)	0.67 / 0.59	0.7	-15.71% (-0.11)
Jan 30, 2025	2024 (Q4)	0.66 / 0.83	0.9	-7.78% (-0.07)
Oct 31, 2024	2024 (Q3)	0.77 / -8.74	0.9	-1071.11% (-9.64)	―
Aug 01, 2024	2024 (Q2)	0.77 / 0.80	0.8	0.00% (0.00)	―
Apr 30, 2024	2024 (Q1)	0.67 / 0.70	0.6	16.67% (+0.10)	―
Feb 01, 2024	2023 (Q4)	0.78 / 0.90	0.9	0.00% (0.00)	―
Oct 31, 2023	2023 (Q3)	0.81 / 0.90	0.6	50.00% (+0.30)	―
Aug 01, 2023	2023 (Q2)	0.74 / 0.80	0.7	14.29% (+0.10)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SIRI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$22.93	$21.12	-7.89%
May 01, 2025	$21.15	$19.26	-8.94%
Jan 30, 2025	$21.34	$22.58	+5.81%
Oct 31, 2024	$26.49	$25.78	-2.68%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.