Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue:        
Total revenue $ 2,159 $ 2,171 $ 6,365 $ 6,511
Cost of services:        
Subscriber acquisition costs 107 90 314 272
Sales and marketing 186 217 561 675
Product and technology 62 68 191 224
General and administrative 119 138 407 378
Depreciation and amortization 141 145 406 455
Impairment, restructuring and other costs 9 3,388 164 3,441
Total operating expenses 1,666 5,072 5,120 8,533
Income (loss) from operations 493 (2,901) 1,245 (2,022)
Other income (expense), net        
Interest expense (115) (124) (348) (379)
Other income, net 10 28 24 142
Total other expense (105) (96) (324) (237)
Income (loss) before income taxes 388 (2,997) 921 (2,259)
Income tax (expense) benefit (91) 39 (215) (103)
Net income (loss) 297 (2,958) 706 (2,362)
Less net loss attributable to noncontrolling interests 0 (502) 0 (410)
Net income (loss) attributable to Sirius XM Holdings Inc. $ 297 $ (2,456) $ 706 $ (1,952)
Net income (loss) per common share:        
Basic (in USD per share) $ 0.88 $ (8.74) $ 2.09 $ (7.01)
Diluted (in USD per share) $ 0.84 $ (8.74) $ 1.99 $ (7.01)
Weighted average common shares outstanding:        
Basic (in shares) 337 339 338 337
Diluted (in shares) 356 339 357 337
Subscriber revenue        
Revenue:        
Total revenue $ 1,629 $ 1,645 $ 4,860 $ 4,983
Advertising revenue        
Revenue:        
Total revenue 455 450 1,281 1,295
Equipment revenue        
Revenue:        
Total revenue 43 43 130 140
Cost of services:        
Cost of services 2 2 6 7
Other revenue        
Revenue:        
Total revenue 32 33 94 93
Revenue share and royalties        
Cost of services:        
Cost of services 721 707 2,130 2,118
Programming and content        
Cost of services:        
Cost of services 154 150 458 456
Customer service and billing        
Cost of services:        
Cost of services 116 110 339 335
Transmission        
Cost of services:        
Cost of services $ 49 $ 57 $ 144 $ 172