Siriusxm Holdings Inc. · NASDAQ:SIRI
Siriusxm — Q1 2026 Earnings Presentation
19 slides from Siriusxm's earnings presentation, Apr 30, 2026
Slide 1: First Quarter 2026 Operating and Financial Results
April 30, 2026 1 FIRST 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 CONTINUED STRENGTH REVENUE, PROFITABILITY TRENDS, CHURN AND AND DIVERSIFICATION IN AND FREE CASH FLOW SATISFACTION ADVERTISING GROWTH • Self-pay subscriber additions of (111,000) in 1Q26 • Advertising revenue grew 3% to $407 million, • 1Q26 revenue of $2.09 billion grew 1% yea
Slide 4: On Track Toward $100 Million in Incremental Gross Cost Savings in 2026
4 ON TRACK TOWARD $100 Adjusted Operating Expenses Decrease 1% MILLION IN INCREMENTAL GROSS COST SAVINGS IN 2026 1Q26 vs 1Q25 $ millions • In 2026, the company is targeting an additional $100 million in gross cost 1% savings, driven by ongoing optimization $697 initiatives across customer service, g
Slide 5: Capital Expenditures Continue to Trend Lower
5 CAPITAL EXPENDITURES CONTINUE TO TREND LOWER Satellite Capital Expenditures • First quarter CapEx of $105 million compared to $189 million in the prior year 2024A — 2028E $ millions period. $262 • Satellite CapEx is declining as planned, with SXM-11 expected to be launched into geostationary orbit
Slide 6: Consolidated Financial Highlights
6 CONSOLIDATED FINANCIAL HIGHLIGHTS
Slide 7: Consolidated First Quarter Results
7 FIRST QUARTER 2026 CONSOLIDATED RESULTS Consolidated First Quarter Results TOTAL REVENUE Total Revenue Adj. EBITDA Free Cash Flow • Revenue grew 1% year-over-year to $2.09 billion, reflecting the strength of our subscriber base and +1% +6% +205% continued momentum in advertising. • Subscription re
Slide 8: Subscriber Highlights
8 FIRST QUARTER 2026 SUBSCRIBER HIGHLIGHTS Total Ending SiriusXM Subscribers SELF-PAY SUBSCRIBER Approximately 33 Million PERFORMANCE SUPPORTED BY VALUE-ORIENTED OFFERINGS • Self-pay net additions were (111,000), an improvement of 192,000 compared to the prior year period, driven by the growing adop
Slide 9: Reaffirming Full Year 2026 Financial Guidance
9 9 REAFFIRMING FULL YEAR 2026 FINANCIAL GUIDANCE REVENUE ADJ. EBITDA FREE CASH FLOW $ 8.5B Mostly flat vs. 2025 $ 2.6BStable vs. 2025 $ 1.35B Up vs. 2025 (first stable revenue (first stable EBITDA guidance in 3 years) guidance in 3 years) 2027 Free Cash Flow Target: SiriusXM is targeting $1.5 billi
Slide 10: Segment Highlights
SirlusXM SiriusXM pandora SEGMENT HIGHLIGHTS
Slide 11: First Quarter SiriusXM Segment Results
11 FIRST QUARTER 2026 FIRST QUARTER SIRIUSXM SEGMENT RESULTS SIRIUSXM SEGMENT HIGHLIGHTS Total Revenue REVENUE OF ~$1.6 BILLION • SiriusXM Segment revenue and ARPU 1% increased 1% compared to the prior year period, reflecting the benefit of February $1,581 $1,590 2026 price increase as well as the f
Slide 12: First Quarter Pandora and Off-Platform Segment Results
12 FIRST QUARTER 2026 FIRST QUARTER PANDORA AND OFF-PLATFORM PANDORA AND OFF- PLATFORM SEGMENT SEGMENT RESULTS HIGHLIGHTS Total Revenue REVENUE OF $501 MILLION 3% • Total Pandora and Off-Platform Segment revenue rose 3% to $501 million. $501 • Subscriber revenue declined 2% to $129 $487 For the Thre
Slide 13: Fueling Fan Connections
13 13 FUELING FAN CONNECTIONS ACROSS PREMIUM PROGRAMMING, IMMERSIVE EXPERIENCES, SPORTS, AND PODCASTING
Slide 14: Exclusive Voices. Unforgettable Moments.
EXCLUSIVE VOICES. UNFORGETTABLE MOMENTS. • New, exclusive artist-led channels from global stars like John Summit, alongside pop up channels by BTS, Luke Combs, and Robyn • Distinctive programming such as John Mayer's Grateful Dead Listening Party • Deepened partnership with Metallica with a new live
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 March 31, 2026 2025 Cash Flow Information Net cash provided by operating activities $271 $242 Net cash used in investing activities $(173) $(235) Net cash used in financing activities $(117) $(42) Free Cash Flow Net cash provided by operati
Slide 18: Adjusted EBITDA Reconciliation
18 ADJUSTED EBITDA RECONCILIATION For the Three Months Ended March 31, 2026 2025 Net income: $245 $204 Add back items excluded from Adjusted EBITDA: Legal settlements and reserves $1 $— Impairment, restructuring and other costs $6 $48 Share-based payment expense $54 $50 Depreciation and amortization
Slide 19: Earnings Per Share Calculation
19 EARNINGS PER SHARE CALCULATION For the Three Months Ended March 31, 2026 2025 Numerator Net income available to common stockholders for basic net income per common share $245 $204 Effect of assumed conversions of convertible notes, net of tax $— $7 Net income available to common stockholders for