Sirius XM Holdings Inc (SIRI) Income Statement
SIRI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSIRI revenue and net income
Where SIRI's revenue goes
2025Each bar shows an amount and its share of revenue. SIRI kept 9.4% of revenue as net income.
SIRI profit margins
SIRI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −1.6% | −1.7% | +1.3% | +6.5% |
| Gross profit | −4.2% | −3.8% | −0.4% | +6.3% |
| Operating income | — | −10.3% | +11.4% | +2.2% |
| Net income | — | −12.8% | +43.8% | +4.7% |
| EPS (diluted) | — | −1.8% | +2.6% | +10.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SIRI quarterly EPS vs estimates
Sirius XM beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: October 29, 2026 (estimate $0.76).
SIRI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.56B | $8.70B | $8.95B | $9.00B | $8.70B | $8.04B | $7.79B | $5.77B | $5.42B | $5.02B |
| Cost of revenue | $4.53B | $4.50B | $4.57B | $4.48B | $4.29B | $3.94B | $3.85B | $2.78B | $2.60B | $2.51B |
| Gross profit | $4.03B | $4.20B | $4.38B | $4.52B | $4.40B | $4.10B | $3.94B | $2.99B | $2.83B | $2.51B |
| Research & development | $263.0M | $296.0M | $322.0M | $285.0M | $265.0M | $263.0M | $280.0M | $123.0M | $112.0M | $82.1M |
| Sales, general & admin | $1.31B | $1.39B | $1.48B | $1.60B | $1.57B | $1.47B | $1.46B | $838.0M | $773.0M | $727.8M |
| Total operating expenses | $2.56B | $5.72B | $2.44B | $2.48B | $2.39B | $3.24B | $2.29B | $1.26B | $1.18B | $1.08B |
| Operating income | $1.47B | −$1.52B | $1.95B | $2.04B | $2.02B | $858.0M | $1.65B | $1.73B | $1.64B | $1.43B |
| Interest income | — | — | — | — | — | — | $387.0M | $339.8M | $339.6M | $331.2M |
| Interest expense | $459.0M | $496.0M | $423.0M | $422.0M | $415.0M | $394.0M | $390.0M | $350.0M | $346.0M | $331.2M |
| Income before taxes | $1.06B | −$1.86B | $1.52B | $1.60B | $1.53B | $430.0M | $1.20B | $1.42B | $1.26B | $1.09B |
| Income taxes | $251.0M | $210.0M | $260.0M | $392.0M | $212.0M | $299.0M | $283.0M | $245.0M | $616.0M | $345.7M |
| Net income | $805.0M | −$1.67B | $1.26B | $1.21B | $1.31B | $131.0M | $914.0M | $1.18B | $648.0M | $745.9M |
| EBITDA | $2.10B | −$747.0M | $2.61B | $2.61B | $2.52B | $1.39B | $2.06B | $2.07B | $1.91B | $1.69B |
| EPS (diluted) | $2.86 | −$6.43 | $3.29 | $3.02 | $3.10 | $2.51 | $1.91 | $2.50 | $1.75 | $1.53 |
| Gross margin | 47.0% | 48.3% | 49.0% | 50.2% | 50.6% | 51.0% | 50.6% | 51.8% | 52.1% | 50.0% |
| Operating margin | 17.2% | −17.4% | 21.7% | 22.6% | 23.2% | 10.7% | 21.1% | 29.9% | 30.2% | 28.5% |
| Net margin | 9.4% | −19.1% | 14.1% | 13.5% | 15.1% | 1.6% | 11.7% | 20.4% | 11.9% | 14.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.16B | $2.09B | $2.19B | $2.16B | $2.14B | $2.07B | $2.19B | $2.17B | $2.18B | $2.16B | $2.29B | $2.27B |
| Cost of revenue | $1.09B | $1.25B | $1.14B | $1.15B | $1.14B | $1.10B | $1.14B | $1.12B | $1.11B | $1.13B | $1.15B | $1.14B |
| Gross profit | $1.07B | $838.0M | $1.05B | $1.01B | $1.00B | $964.0M | $1.05B | $1.05B | $1.06B | $1.03B | $1.13B | $1.13B |
| Research & development | $56.0M | $69.0M | $72.0M | $62.0M | $56.0M | $73.0M | $72.0M | $68.0M | $71.0M | $86.0M | $88.0M | $72.0M |
| Sales, general & admin | $324.0M | $309.0M | $341.0M | $305.0M | $351.0M | $312.0M | $338.0M | $355.0M | $336.0M | $344.0M | $380.0M | $376.0M |
| Total operating expenses | $601.0M | $378.0M | $826.0M | $517.0M | $635.0M | $577.0M | $545.0M | $3.96B | $592.0M | $626.0M | $643.0M | $599.0M |
| Operating income | $472.0M | $460.0M | $226.0M | $493.0M | $365.0M | $387.0M | $505.0M | −$2.90B | $471.0M | $409.0M | $491.0M | $528.0M |
| Interest expense | $112.0M | $112.0M | $111.0M | $115.0M | $116.0M | $117.0M | $117.0M | $124.0M | $102.0M | $104.0M | $104.0M | $134.0M |
| Income before taxes | $312.0M | $326.0M | $135.0M | $388.0M | $264.0M | $269.0M | $394.0M | −$3.00B | $430.0M | $309.0M | $382.0M | $370.0M |
| Income taxes | $73.0M | $81.0M | $36.0M | $91.0M | $59.0M | $65.0M | $107.0M | −$39.0M | $76.0M | $68.0M | $30.0M | $79.0M |
| Net income | $239.0M | $245.0M | $99.0M | $297.0M | $205.0M | $204.0M | $287.0M | −$2.46B | $304.0M | $199.0M | $352.0M | $234.0M |
| EBITDA | $647.0M | $599.0M | $397.0M | $655.0M | $511.0M | $541.0M | $645.0M | −$2.72B | $725.0M | $604.0M | $645.0M | $663.0M |
| EPS (diluted) | $0.70 | $0.74 | $0.86 | $0.84 | $0.57 | $0.59 | $0.81 | −$8.74 | $0.80 | $0.70 | $0.90 | $0.90 |
| Gross margin | 49.7% | 40.1% | 48.0% | 46.8% | 46.8% | 46.6% | 48.0% | 48.6% | 48.8% | 47.9% | 49.6% | 49.6% |
| Operating margin | 21.9% | 22.0% | 10.3% | 22.8% | 17.1% | 18.7% | 23.1% | −133.6% | 21.6% | 18.9% | 21.5% | 23.2% |
| Net margin | 11.1% | 11.7% | 4.5% | 13.8% | 9.6% | 9.9% | 13.1% | −113.1% | 14.0% | 9.2% | 15.4% | 10.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SIRI's financial statements (latest annual report filed February 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SIRI financial results
In fiscal year 2025 (ended December 31, 2025), Sirius XM reported revenue of $8.6 billion, down 1.6% from the year before. It had net income of $805.0 million, a net profit margin of 9.4%. Diluted earnings per share came to $2.86. Over five years revenue grew at an average rate of 1.3% a year.
See the SIRI stock overview for the latest quote and news, or the SIRI chart for price history and technical indicators.
SIRI income statement FAQ
What is Sirius XM's annual revenue?
Sirius XM reported total revenue of $8.6 billion for fiscal year 2025, which ended on December 31, 2025. That was down 1.6% from $8.7 billion the previous year.
Is Sirius XM profitable?
Yes. Sirius XM reported net income of $805.0 million in fiscal 2025, a net profit margin of 9.4%; its operating margin was 17.2%.
What is Sirius XM's gross margin?
Sirius XM's gross margin was 47.0% in fiscal 2025: for every $100 of revenue, Sirius XM kept $47 after the direct cost of its products and services.
How much does Sirius XM spend on research and development?
Sirius XM spent $263.0 million on research and development in fiscal 2025, 3.1% of revenue.
How fast is Sirius XM growing?
Revenue grew 1.3% a year on average over the last five fiscal years, from $8.0 billion to $8.6 billion.
What are Sirius XM's earnings per share?
Sirius XM earned $2.86 per diluted share in fiscal 2025, compared with $-6.43 a year earlier.
When will Sirius XM report its next earnings?
Sirius XM is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Sirius XM's fiscal year end?
Sirius XM's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 5, 2026.