Siriusxm Holdings Inc. · NASDAQ:SIRI
Siriusxm — Q3 2026 Earnings Presentation
19 slides from Siriusxm's earnings presentation, Oct 29, 2026
Slide 1: Third Quarter 2026 Operating and Financial Results
October 29, 2026 1 THIRD 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 STRENGTHENING EXPANDING ADVERTISING STRONG EARNINGS AND SUBSCRIBER TRENDS AND REACH AND CONTENT CASH FLOW SUPPORT DEEPENING ENGAGEMENT MONETIZATION HIGHER GUIDANCE • Positive self-pay net additions of 5,000, improving • Maintained stable advertising revenue of $456M, • Raised 2026 guidance for the
Slide 4: Executing Our Cost Transformation Strategy
4 EXECUTING OUR COST Structural Cost Reductions Drive Lower TRANSFORMATION STRATEGY • Realized $96 million in gross cost savings Operating Expenses through September, including $64 million in operating expenses and $32 million in capital expenditures, nearing the $100 1% 3Q26 vs 3Q25 $726 million fu
Slide 5: Disciplined Capital Investment Supports Free Cash Flow Growth
5 DISCIPLINED CAPITAL INVESTMENT SUPPORTS FREE Satellite Capital Expenditures 2024A — 2028E CASH FLOW GROWTH • Third quarter CapEx declined 5% to $166 $ millions million, compared with $175 million in the prior year period, reflecting disciplined investment $262 and lower satellite spending. • Satel
Slide 6: Consolidated Financial Highlights
6 CONSOLIDATED FINANCIAL HIGHLIGHTS
Slide 7: Third Quarter 2026 Consolidated Results
7 THIRD QUARTER 2026 CONSOLIDATED RESULTS Consolidated Third Quarter Results TOTAL REVENUE Total Revenue Adj. EBITDA Free Cash Flow • Revenue was down slightly to $2.15 billion, reflecting stable subscription and advertising performance offset —% +3% +14% by lower equipment revenue. • Subscription r
Slide 8: Segment Highlights
SirlusXM SiriusXM pandora SEGMENT HIGHLIGHTS
Slide 9: Subscriber Highlights Third Quarter 2026
9 SUBSCRIBER HIGHLIGHTS THIRD QUARTER 2026 Total Ending SiriusXM Subscribers SELF-PAY SUBSCRIBER TRENDS Approximately 33 Million CONTINUE TO IMPROVE • Self-pay net additions of 5,000, a year-over-year improvement of ~45,000, supported by companion 22,000 plans, continuous service, extended duration
Slide 10: SiriusXM Segment Third Quarter 2026 Highlights
10 SIRIUSXM SEGMENT THIRD QUARTER 2026 HIGHLIGHTS THIRD QUARTER SIRIUSXM SEGMENT RESULTS REVENUE OF $1.6 BILLION Total Revenue • SiriusXM segment revenue was down slightly at $1.6 billion, as stable subscription revenue offset declines —% in advertising and equipment revenue. • Subscriber revenue in
Slide 11: Pandora and Off-Platform Segment Third Quarter 2026 Highlights
11 PANDORA AND OFF-PLATFORM SEGMENT THIRD QUARTER 2026 THIRD QUARTER PANDORA AND OFF-PLATFORM HIGHLIGHTS SEGMENT RESULTS REVENUE OF $549 MILLION Total Revenue • Pandora and Off-Platform segment revenue remained —% relatively flat at $549 million, as advertising growth offset lower subscriber revenue
Slide 12: Raising Full Year 2026 Revenue, Adjusted EBITDA and Free Cash Flow Guidance
12 12 RAISING FULL YEAR 2026 REVENUE, ADJUSTED EBITDA AND FREE CASH FLOW GUIDANCE FOR SECOND CONSECUTIVE QUARTER REVENUE ADJ. EBITDA FREE CASH FLOW $ 8.550B $ 2.650B $ 1.400B SIRIUSXM INCREASING 2026 FINANCIAL GUIDANCE BY $25 MILLION ACROSS THE BOARD, REFLECTING STRONG EXECUTION, OPERATING EFFICIENC
Slide 13: More Than Content
13 13 MORE THAN CONTENT ICONIC VOICES. UNFORGETTABLE MOMENTS. LASTING CONNECTIONS.
Slide 14: Bringing Fans Closer to What They Love
BRINGING FANS CLOSER TO WHAT THEY LOVE • Created unforgettable artist experiences through intimate performances with Shania Twain and John Mayer and exclusive programming featuring Billy Joel and Talking Heads. More than 110,000 fans entered for a chance to attend John Mayer's Stephen Talkhouse perf
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 September 30, For the Nine Months Ended September 30, 2026 2025 2026 2025 Cash Flow Information Net cash provided by operating activities $457 $430 $1,450 $1,218 Net cash used in investing activities $(184) $(191) $(509) $(588) Net cash use
Slide 18: Adjusted EBITDA Reconciliation
18 ADJUSTED EBITDA RECONCILIATION For the Three Months Ended September 30, 2026 2025 Net income: $317 $297 Add back items excluded from Adjusted EBITDA: Legal settlements and reserves $1 $(9) Impairment, restructuring and other costs $10 $9 Share-based payment expense $38 $42 Depreciation and amorti
Slide 19: Earnings Per Share Calculation
19 EARNINGS PER SHARE CALCULATION For the Three Months Ended September 30, 2026 2025 Numerator Net income available to common stockholders for basic net income per common share $317 $297 Effect of assumed conversions of convertible notes, net of tax $(35) $1 Net income available to common stockholde