Quarterly report [Sections 13 or 15(d)]

Segments and Geographic Information (Tables)

v3.26.3
Segments and Geographic Information (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
Segment revenue and gross profit were as follows during the periods presented:
For the Three Months Ended September 30, 2026
SiriusXM
 Pandora and Off-platform Total
Revenue
Subscriber revenue $ 1,500  $ 130  $ 1,630 
Advertising revenue 37  419  456 
Other revenue 67  —  67 
Total revenue 1,604  549  2,153 
Cost of services
Revenue share and royalties (392) (334) (726)
Programming and content (a)
(121) (15) (136)
Other (a)(b)
(128) (27) (155)
Total cost of services
 (641) (376) (1,017)
Segment gross profit $ 963  $ 173  $ 1,136 
For the Three Months Ended September 30, 2025
SiriusXM Pandora and Off-platform Total
Revenue
Subscriber revenue $ 1,497  $ 132  $ 1,629 
Advertising revenue 39  416  455 
Other revenue 75  —  75 
Total revenue 1,611  548  2,159 
Cost of services
Revenue share and royalties (384) (337) (721)
Programming and content (c)
(130) (15) (145)
Other (c)(d)
(139) (26) (165)
Total cost of service
 (653) (378) (1,031)
Segment gross profit $ 958  $ 170  $ 1,128 
For the Nine Months Ended September 30, 2026
SiriusXM
 Pandora and Off-platform Total
Revenue
Subscriber revenue $ 4,491  $ 389  $ 4,880 
Advertising revenue 113  1,204  1,317 
Other revenue 207  —  207 
Total revenue 4,811  1,593  6,404 
Cost of services
Revenue share and royalties (1,151) (994) (2,145)
Programming and content (e)
(367) (43) (410)
Other (e)(f)
(383) (81) (464)
Total cost of services (1,901) (1,118) (3,019)
Segment gross profit $ 2,910  $ 475  $ 3,385 
For the Nine Months Ended September 30, 2025
Sirius XM Pandora and Off-platform Total
Revenue
Subscriber revenue $ 4,466  $ 394  $ 4,860 
Advertising revenue 116  1,165  1,281 
Other revenue 224  —  224 
Total revenue 4,806  1,559  6,365 
Cost of services
Revenue share and royalties (1,154) (976) (2,130)
Programming and content (g)
(386) (44) (430)
Other (g)(h)
(403) (77) (480)
Total cost of services (1,943) (1,097) (3,040)
Segment gross profit $ 2,863  $ 462  $ 3,325 
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 September 30, 2026
Segment Gross Profit $ 1,136 
Subscriber acquisition costs (107)
Sales and marketing (a)
(169)
Product and technology (a)
(56)
General and administrative (a)
(111)
Depreciation and amortization (166)
Share-based payment expense (38)
Impairment, restructuring and other costs
 (10)
Total other expense (63)
Consolidated income before income taxes
 $ 416 
(a)     Share-based payment expense of $10 related to cost of services, $10 related to sales and marketing, $8 related to product and technology and $10 related to general and administrative has been excluded for the three months ended September 30, 2026.
(b)    SiriusXM other costs of services related to customer service and billing of $90, transmission costs of $37 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 September 30, 2025
Segment Gross Profit $ 1,128 
Subscriber acquisition costs (107)
Sales and marketing (c)
(176)
Product and technology (c)
(54)
General and administrative (c)
(106)
Depreciation and amortization (141)
Share-based payment expense (42)
Impairment, restructuring and other costs (9)
Total other expense (105)
Consolidated income before income taxes $ 388 
(c)     Share-based payment expense of $11 related to cost of services, $10 related to sales and marketing, $8 related to product and technology and $13 related to general and administrative has been excluded for the three months ended September 30, 2025.
(d)    SiriusXM other costs of services related to customer service and billing of $96, transmission costs of $41 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 Nine Months Ended September 30, 2026
Segment Gross Profit $ 3,385 
Subscriber acquisition costs (316)
Sales and marketing (e)
(521)
Product and technology (e)
(162)
General and administrative (e)
(337)
Depreciation and amortization (482)
Share-based payment expense (140)
Impairment, restructuring and other costs
 (22)
Total other expense (351)
Consolidated income before income taxes
 $ 1,054 
(e)     Share-based payment expense of $38 related to cost of services, $33 related to sales and marketing, $27 related to product and technology and $42 related to general and administrative has been excluded for the nine months ended September 30, 2026.
(f)    SiriusXM other costs of services related to customer service and billing of $265, transmission costs of $114 and cost of equipment of $4. Pandora and Off-platform other costs of services related to customer service and billing of $56 and transmission costs of $25.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Nine Months Ended September 30, 2025
Segment Gross Profit $ 3,325 
Subscriber acquisition costs (314)
Sales and marketing (g)
(525)
Product and technology (g)
(165)
General and administrative (g)
(366)
Depreciation and amortization (406)
Share-based payment expense (140)
Impairment, restructuring and other costs
 (164)
Total other expense (324)
Consolidated income before income taxes $ 921 
(g)     Share-based payment expense of $37 related to cost of services, $36 related to sales and marketing, $26 related to product and technology and $41 related to general and administrative has been excluded for the nine months ended September 30, 2025.
(h)    SiriusXM other costs of services related to customer service and billing of $279, transmission costs of $118 and cost of equipment of $6. Pandora and Off-platform other costs of services related to customer service and billing of $56 and transmission costs of $21.