Quarterly report [Sections 13 or 15(d)]

Segments and Geographic Information (Tables)

v3.26.1
Segments and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
Segment revenue and gross profit were as follows during the periods presented:
For the Three Months Ended June 30, 2026
SiriusXM
 Pandora and Off-platform Total
Revenue
Subscriber revenue $ 1,508  $ 130  $ 1,638 
Advertising revenue 41  413  454 
Other revenue 68  —  68 
Total revenue 1,617  543  2,160 
Cost of services
Revenue share and royalties (382) (340) (722)
Programming and content (a)
(124) (13) (137)
Other (a)(b)
(130) (27) (157)
Total cost of services
 (636) (380) (1,016)
Segment gross profit $ 981  $ 163  $ 1,144 
For the Three Months Ended June 30, 2025
SiriusXM Pandora and Off-platform Total
Revenue
Subscriber revenue $ 1,499  $ 130  $ 1,629 
Advertising revenue 38  394  432 
Other revenue 77  —  77 
Total revenue 1,614  524  2,138 
Cost of services
Revenue share and royalties (391) (331) (722)
Programming and content (c)
(128) (13) (141)
Other (c)(d)
(129) (26) (155)
Total cost of service
 (648) (370) (1,018)
Segment gross profit $ 966  $ 154  $ 1,120 
For the Six Months Ended June 30, 2026
SiriusXM
 Pandora and Off-platform Total
Revenue
Subscriber revenue $ 2,991  $ 259  $ 3,250 
Advertising revenue 76  785  861 
Other revenue 140  —  140 
Total revenue 3,207  1,044  4,251 
Cost of services
Revenue share and royalties (759) (660) (1,419)
Programming and content (e)
(247) (27) (274)
Other (e)(f)
(254) (55) (309)
Total cost of services (1,260) (742) (2,002)
Segment gross profit $ 1,947  $ 302  $ 2,249 
For the Six Months Ended June 30, 2025
Sirius XM Pandora and Off-platform Total
Revenue
Subscriber revenue $ 2,969  $ 262  $ 3,231 
Advertising revenue 77  749  826 
Other revenue 149  —  149 
Total revenue 3,195  1,011  4,206 
Cost of services
Revenue share and royalties (770) (639) (1,409)
Programming and content (g)
(257) (28) (285)
Other (g)(h)
(265) (51) (316)
Total cost of services (1,292) (718) (2,010)
Segment gross profit $ 1,903  $ 293  $ 2,196 
Schedule of Reconciliation of Revenue from Segments to Consolidated
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Three Months Ended June 30, 2026
Segment Gross Profit $ 1,144 
Subscriber acquisition costs (109)
Sales and marketing (a)
(176)
Product and technology (a)
(47)
General and administrative (a)
(121)
Depreciation and amortization (165)
Share-based payment expense (48)
Impairment, restructuring and other costs
 (6)
Total other expense (160)
Consolidated income before income taxes
 $ 312 
(a)     Share-based payment expense of $12 related to cost of services, $12 related to sales and marketing, $9 related to product and technology and $15 related to general and administrative has been excluded for the three months ended June 30, 2026.
(b)    SiriusXM other costs of services related to customer service and billing of $90, transmission costs of $39 and cost of equipment of $1. Pandora and Off-platform other costs of services related to customer service and billing of $18 and transmission costs of $9.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Three Months Ended June 30, 2025
Segment Gross Profit $ 1,120 
Subscriber acquisition costs (107)
Sales and marketing (c)
(173)
Product and technology (c)
(48)
General and administrative (c)
(152)
Depreciation and amortization (121)
Share-based payment expense (47)
Impairment, restructuring and other costs (107)
Total other expense (101)
Consolidated income before income taxes $ 264 
(c)     Share-based payment expense of $13 related to cost of services, $12 related to sales and marketing, $8 related to product and technology and $14 related to general and administrative has been excluded for the three months ended June 30, 2025.
(d)    SiriusXM other costs of services related to customer service and billing of $90, transmission costs of $37 and cost of equipment of $2. Pandora and Off-platform other costs of services related to customer service and billing of $19 and transmission costs of $7.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Six Months Ended June 30, 2026
Segment Gross Profit $ 2,249 
Subscriber acquisition costs (209)
Sales and marketing (e)
(352)
Product and technology (e)
(106)
General and administrative (e)
(226)
Depreciation and amortization (316)
Share-based payment expense (102)
Impairment, restructuring and other costs
 (12)
Total other expense (288)
Consolidated income before income taxes
 $ 638 
(e)     Share-based payment expense of $28 related to cost of services, $23 related to sales and marketing, $19 related to product and technology and $32 related to general and administrative has been excluded for the six months ended June 30, 2026.
(f)    SiriusXM other costs of services related to customer service and billing of $175, transmission costs of $76 and cost of equipment of $3. Pandora and Off-platform other costs of services related to customer service and billing of $38 and transmission costs of $17.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Six Months Ended June 30, 2025
Segment Gross Profit $ 2,196 
Subscriber acquisition costs (207)
Sales and marketing (g)
(349)
Product and technology (g)
(111)
General and administrative (g)
(260)
Depreciation and amortization (265)
Share-based payment expense (97)
Impairment, restructuring and other costs
 (155)
Total other expense (219)
Consolidated income before income taxes $ 533 
(g)     Share-based payment expense of $25 related to cost of services, $26 related to sales and marketing, $18 related to product and technology and $28 related to general and administrative has been excluded for the six months ended June 30, 2025.
(h)    SiriusXM other costs of services related to customer service and billing of $183, transmission costs of $78 and cost of equipment of $4. Pandora and Off-platform other costs of services related to customer service and billing of $37 and transmission costs of $14.