Subscriber Metrics - As of March 31, 2025, SiriusXM had approximately 32.9 million subscribers, while Pandora had approximately 42.4 million monthly active users and 5.7 million subscribers[212][215]. - Sirius XM's total subscribers decreased by 566 to 32,864 as of March 31, 2025, a decline of 2% year-over-year[278]. - Pandora's monthly active users decreased by 6% to 42,357 as of March 31, 2025, down from 45,023 in 2024[283]. - Average self-pay monthly churn improved to 1.6% in Q1 2025 from 1.7% in Q1 2024[280]. Revenue Sources - The primary revenue source for SiriusXM is subscription fees, with additional revenue from advertising on non-music channels and direct sales of radios and accessories[212]. - The Pandora and Off-platform business generates significant revenue from advertising, with a focus on its ad-supported radio service and subscription services[216]. - Sirius XM subscriber revenue declined by 5%, or $77, to $1,470 million, primarily due to a reduction in the average number of subscribers and lower Average Revenue Per User (ARPU)[222]. - Advertising revenue for Sirius XM decreased by 3%, or $1, to $39 million, attributed to lower advertising demand for entertainment and comedy channels[224]. - Other revenue increased by 3%, or $1, to $31 million, driven by higher license fees[227]. Financial Performance - For the three months ended March 31, 2025, total revenue decreased by 4%, or $94, to $2,068 million compared to $2,162 million in 2024[233]. - Net income for the three months ended March 31, 2025, was $204 million, down 15%, or $37, from $241 million in 2024[220]. - Adjusted EBITDA for the three months ended March 31, 2025, was $629 million, a decrease of 3% from $650 million in the same period of 2024[287]. - Free cash flow decreased by 36% to $56 million in Q1 2025 from $88 million in Q1 2024, primarily due to lower cash receipts and higher capital expenditures[288]. - Operating cash flows decreased by $22 million to $242 million for the three months ended March 31, 2025, compared to $264 million for the same period in 2024[291]. Expenses and Costs - Subscriber acquisition costs increased by 11%, or $10, to $100 million, primarily due to contractual changes with certain automakers[252]. - Sales and marketing expenses decreased by 17%, or $39, to $190 million, reflecting lower brand and streaming marketing costs[255]. - Total cost of services decreased by 3%, or $33, to $1,004 million, with a notable decrease in transmission expenses by 16%, or $8[240]. - General and administrative expenses for the same period decreased by 2% to $122 million from $124 million, but increased as a percentage of total revenue[259]. - Depreciation and amortization expense decreased to $144 million for the three months ended March 31, 2025, down from $155 million in 2024[261]. - Impairment, restructuring, and other costs increased to $48 million in Q1 2025 from $32 million in Q1 2024, with significant charges related to severance and restructuring[263]. Debt and Financial Stability - The company has significant indebtedness, which may limit its ability to incur additional debt for operations[201]. - Interest expense decreased to $117 million in Q1 2025 from $129 million in Q1 2024, attributed to a lower average outstanding debt balance[264]. - The company had $1,173 million in variable rate debt with a weighted average interest rate of 6.5% and $9,325 million in fixed rate debt with a weighted average interest rate of 4.3% as of March 31, 2025[323]. - As of March 31, 2025, $1.65 billion was available for future borrowing under the Credit Facility, indicating strong liquidity for upcoming capital needs[298]. Strategic Initiatives - The company has engaged in strategic partnerships, including an exclusive ad sales arrangement with SoundCloud and providing digital audio advertising technology through AdsWizz Inc.[217]. - The company completed a significant transaction on September 9, 2024, involving a split-off and merger, resulting in the renaming of entities and restructuring of ownership[205][207]. - The company is committed to making tax-efficient equity investments in clean energy technologies, which are expected to generate tax credits and related tax losses[302]. Market Risks - The company is exposed to risks related to economic conditions, consumer behavior changes, and reliance on third parties for operations[195]. - The company is exposed to market risks due to changes in stock prices and interest rates, with established policies to manage these risks[322].

Sirius XM (SIRI) came out with quarterly earnings of $0.59 per share, missing the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.71%. A quarter ago, it was expected that this satellite radio company would post earnings of $0.64 per share when it actually produced earnings of $0.83, delivering a surprise of 29.69%.Over the last four quarters, t ...

Sirius XM (SIRI) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Speaker0 As a reminder, this conference is being recorded. It is now my pleasure to introduce Hooper Stevens, Senior Vice President of Investor Relations and Finance. Thank you, Hooper. You may begin. Speaker1 Thank you, and good morning, everyone. Welcome to SiriusXM's first quarter twenty twenty five earnings conference call. Today, we will have prepared remarks from Jennifer Witz, our Chief Executive Officer and Tom Barry, our Chief Financia ...

Financial Performance - SiriusXM reported Q1 2025 revenue of $2.07 billion, a 4% decrease from Q1 2024[2]. - Net income for Q1 2025 was $204 million, down from $241 million in the prior-year period, with diluted earnings per share at $0.59 compared to $0.63[2][6]. - Adjusted EBITDA was $629 million, reflecting a 3% decline from $650 million in the same period last year, maintaining a stable adjusted EBITDA margin of 30%[3][6]. - Total revenue decreased by 4% to $2,068 million in Q1 2025 from $2,162 million in Q1 2024[28]. - Sirius XM subscriber revenue declined by 5% to $1,470 million, while total Sirius XM revenue fell by 5% to $1,581 million[28]. - Free cash flow for Q1 2025 was $56 million, a decrease of 36% year-over-year, primarily due to timing of payments and higher capital expenditures[17]. - Free cash flow decreased by 36% to $56 million in Q1 2025 compared to $88 million in Q1 2024[34]. - The company reaffirmed its full-year 2025 guidance, projecting total revenue of approximately $8.5 billion, adjusted EBITDA of approximately $2.6 billion, and free cash flow of approximately $1.15 billion[19]. Subscriber Metrics - SiriusXM's total subscribers stood at 33 million, with self-pay subscribers decreasing by approximately 303,000, but showing a 16% improvement in churn rate at 1.6%[10]. - The total number of Sirius XM subscribers decreased by 2% to 32,864 thousand from 33,430 thousand year-over-year[31]. - The average self-pay monthly churn rate improved to 1.6% from 1.7% year-over-year[32]. - SiriusXM reaches a combined monthly audience of approximately 160 million listeners across its audio businesses[36]. Cost Management - Sales and marketing expenses decreased by 19% to $176 million, reflecting the company's efforts to optimize its cost structure[16]. - Total operating expenses decreased by 4% to $1,681 million in Q1 2025 from $1,753 million in Q1 2024[28]. - Subscriber acquisition costs (SAC) per installation increased to $18.86 in Q1 2025 from $12.50 in Q1 2024, representing a 50.88% increase[35]. - Subscriber acquisition costs, excluding connected vehicle services, were $100 million in Q1 2025 compared to $90 million in Q1 2024, reflecting an increase of 11.11%[35]. Podcast and Advertising Performance - The podcast business grew significantly, achieving almost one billion downloads and a 33% year-over-year increase in podcast revenue, reaching 70 million monthly listeners[7]. - Pandora and Off-platform revenue totaled $487 million, a 2% decrease from the prior-year period, driven by weaker advertising performance[13]. Strategic Developments - SiriusXM's automotive platform 360L is expanding through a new agreement with Mitsubishi, expected to feature in new vehicles through 2030[8]. - The company repurchased and retired $25 million of common stock during the quarter[34]. Market Challenges and Risks - The company faces substantial competition and has experienced a loss of subscribers in its SiriusXM service and a decline in monthly active users for its Pandora ad-supported service[38]. - Future operations and financial results are subject to significant uncertainties and may differ materially from current expectations[37]. - The company relies on third parties for operations, and any failure in their performance could adversely affect business[38]. - The impact of economic conditions may negatively affect the company's operating results and financial condition[38]. - The company may change its dividend policy at any time, reflecting potential shifts in capital structure[38].

May 1, 2025 FIRST QUARTER 2025 OPERATING AND FINANCIAL RESULTS 1 CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our outlook and our future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements ident ...

Sirius XM (SIRI) is scheduled to report its first-quarter 2025 results on May 1.See the Zacks Earnings Calendar to stay ahead of market-making news.The Zacks Consensus Estimate for SIRI’s first-quarter 2025 revenues is currently pegged at $2.08 billion, indicating a 3.66% decrease from the year-ago quarter’s reported figure.The consensus mark for earnings has remained unchanged at 70 cents per share in the past 30 days. The estimate implies no year-over-year change.SIRI surpassed the Zacks Consensus Estimat ...

The market expects Sirius XM (SIRI) to deliver flat earnings compared to the year-ago quarter on lower revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on May 1, 2025, might help the stock move higher if these key numbers ar ...

The most recent trading session ended with Sirius XM (SIRI) standing at $20.32, reflecting a +0.79% shift from the previouse trading day's closing. This change lagged the S&P 500's 2.51% gain on the day. Meanwhile, the Dow experienced a rise of 2.66%, and the technology-dominated Nasdaq saw an increase of 2.71%.Coming into today, shares of the satellite radio company had lost 15.83% in the past month. In that same time, the Consumer Discretionary sector lost 9.2%, while the S&P 500 lost 8.86%.Analysts and i ...

It's been a rough year for most stocks. Sirius XM Holdings (SIRI 1.15%) is no exception. Since 2025 began, shares have fallen by roughly 10%.According to several metrics, Sirius XM stock looks like a screaming buy. Might it be time to buy shares like there's no tomorrow?2 charts that show just how cheap Sirius XM stock isAs the largest satellite radio network, with more than 33 million subscribers, most investors are well aware of how Sirius XM generates revenue. Most of its revenue is generated by subscrip ...

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