Siriusxm Holdings Inc. · NASDAQ:SIRI
Siriusxm — Q2 2026 Earnings Presentation
19 slides from Siriusxm's earnings presentation, Jul 30, 2026
Slide 1: Second Quarter 2026 Operating and Financial Results
July 30, 2026 1 SECOND QUARTER 2026 OPERATING AND FINANCIAL RESULTS
Slide 2: Cautionary Note Regarding Forward-Looking Statements
2 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 opera
Slide 3: Business Highlights
3 IMPROVING SUBSCRIBER ADVERTISING MOMENTUM STRONG FINANCIAL TRENDS, CHURN AND AND SPORTS LEADERSHIP PERFORMANCE DRIVES ENGAGEMENT DRIVE GROWTH HIGHER GUIDANCE • Delivered the strongest second-quarter self-pay • Advertising revenue increased 5% year-over-year • Raised full-year 2026 guidance for rev
Slide 4: Executing Our Cost Transformation Strategy
4 EXECUTING OUR COST Adjusted Operating Expenses Remain TRANSFORMATION STRATEGY • On pace to deliver $100 million of Relatively Flat incremental gross cost savings in 2026 through ongoing optimization initiatives across customer service, G&A, and satellite —% 2Q26 vs 2Q25 and transmission operations
Slide 5: Disciplined Capital Investment Supports Future Growth
5 DISCIPLINED CAPITAL INVESTMENT SUPPORTS FUTURE Satellite Capital Expenditures 2024A — 2028E GROWTH • Second quarter CapEx declined to $130 $ millions million from $145 million in the prior year period, reflecting lower satellite investment $262 and supporting strong free cash flow growth. • Succes
Slide 6: Consolidated Financial Highlights
6 CONSOLIDATED FINANCIAL HIGHLIGHTS
Slide 7: Second Quarter 2026 Consolidated Results
7 SECOND QUARTER 2026 CONSOLIDATED RESULTS Consolidated Second Quarter Results TOTAL REVENUE Total Revenue Adj. EBITDA Free Cash Flow • Revenue grew 1% year-over-year to nearly $2.2 billion, fueled by our strong subscription business and +1% +3% +48% continued growth across advertising. • Subscripti
Slide 8: Segment Highlights
SirlusXM SiriusXM pandora SEGMENT HIGHLIGHTS
Slide 9: Subscriber Highlights
9 SUBSCRIBER HIGHLIGHTS SECOND QUARTER 2026 Total Ending SiriusXM Subscribers SELF-PAY SUBSCRIBER Approximately 33 Million PERFORMANCE SUPPORTED BY VALUE-ORIENTED OFFERINGS • Self-pay net additions were 22,000, an 22,000 improvement of 90,000 year-over-year, driven by growing adoption of companion s
Slide 10: SiriusXM Segment Second Quarter 2026 Highlights
10 SIRIUSXM SEGMENT SECOND QUARTER 2026 HIGHLIGHTS SECOND QUARTER SIRIUSXM SEGMENT RESULTS REVENUE OF ~$1.6 BILLION Total Revenue • SiriusXM segment generated total revenue of $1.6 billion, relatively flat year-over-year. —% • Subscriber revenue grew 1% to $1.5 billion, driven by a 1% increase in AR
Slide 11: Pandora and Off-Platform Segment Second Quarter 2026 Highlights
11 PANDORA AND OFF-PLATFORM SEGMENT SECOND QUARTER SECOND QUARTER PANDORA AND OFF- 2026 HIGHLIGHTS PLATFORM SEGMENT RESULTS REVENUE OF $543 MILLION Total Revenue • Pandora and Off-Platform segment revenue 4% increased 4% to $543 million. • Advertising revenue now represents 76% of $543 segment reven
Slide 12: Increasing Full Year 2026 Revenue, Adjusted EBITDA and Free Cash Flow Guidance
12 12 INCREASING FULL YEAR 2026 REVENUE, ADJUSTED EBITDA AND FREE CASH FLOW GUIDANCE REVENUE ADJ. EBITDA FREE CASH FLOW $ 8.525B $ 2.625B $ 1.375B SIRIUSXM INCREASING 2026 FINANCIAL GUIDANCE BY $25 MILLION ACROSS THE BOARD, AND CONTINUES TO TARGET FREE CASH FLOW OF $1.5 BILLION IN 2027. • All guidan
Slide 13: A Home for Fandom
13 13 A HOME FOR FANDOM TURNING LISTENING INTO BELONGING ACROSS MUSIC, SPORTS, PODCASTS, NEWS, TALK AND MORE
Slide 14: Powering Fandom
POWERING FANDOM • Expanded artist-first programming with exclusive channels from Morgan Wallen and Green Day. • Created one-of-a kind experiences with fans joining Kenny Chesney at Flora-Bama, experiencing Hilary Duff's Small Stage Series performance, attending a pre-tour concert with The Black Crow
Slide 15: Thank You
THANK YOU
Slide 16: Appendix
APPENDIX Note; Dollars and shares in millions, except per share amounts or otherwise stated.
Slide 17: Free Cash Flow Reconciliation
17 FREE CASH FLOW RECONCILIATION For the Three Months Ended June 30, 2026 2025 Cash Flow Information Net cash provided by operating activities $722 $546 Net cash used in investing activities $(152) $(162) Net cash used in financing activities $(471) $(419) Free Cash Flow Net cash provided by operati
Slide 18: Adjusted EBITDA Reconciliation
18 ADJUSTED EBITDA RECONCILIATION For the Three Months Ended June 30, 2026 2025 Net income: $239 $205 Add back items excluded from Adjusted EBITDA: Legal settlements and reserves $— $28 Impairment, restructuring and other costs $6 $107 Share-based payment expense $48 $47 Depreciation and amortizatio
Slide 19: Earnings Per Share Calculation
19 EARNINGS PER SHARE CALCULATION For the Three Months Ended June 30, 2026 2025 Numerator Net income available to common stockholders for basic net income per common share $239 $205 Effect of assumed conversions of convertible notes, net of tax $— $(3) Net income available to common stockholders for