Highlights

  • Total revenue was $2,160 million for the three months ended June 30, 2026, against $2,138 million a year earlier.
  • Net income was $239 million, or $0.70 per diluted share, compared with $205 million, or $0.57 per diluted share.
  • Pandora had approximately 39.8 million monthly active users and 5.6 million subscribers as of June 30, 2026.
  • The board declared a quarterly dividend of $0.27 per share on July 22, 2026, payable August 26, 2026.

SiriusXM Holdings Inc. (NASDAQ: SIRI) shares were trading at USD 26.90 on October 27, 2026, down 1.90%, with a relative volume at time of 2.84. The audio entertainment company filed its Form 10-Q for the quarter ended June 30, 2026 on July 30, 2026, and its board declared a quarterly dividend on July 22, 2026.

SiriusXM Holdings is incorporated in Delaware and lists its principal executive offices at 1221 Avenue of the Americas in New York, New York. The company operates two audio entertainment businesses. The SiriusXM business offers music, sports, entertainment, comedy, talk and news channels and podcasts on a subscription basis, distributed through two proprietary satellite radio systems and streaming applications. The Pandora and Off-platform business includes the Pandora ad-supported radio service, the Pandora Plus and Pandora Premium subscriptions, and advertising on other audio platforms. As of June 30, 2026, SiriusXM had approximately 32.9 million subscribers in the U.S. The 10-Q does not disclose a headcount or fiscal year end.

Second Quarter Results

Total revenue was $2,160 million for the three months ended June 30, 2026, compared with $2,138 million for the same period of 2025. SiriusXM segment revenue was $1,617 million, including subscriber revenue of $1,508 million. Pandora and Off-platform revenue was $543 million, including advertising revenue of $413 million.

Total operating expenses were $1,688 million, compared with $1,773 million. Impairment, restructuring and other costs were $6 million, compared with $107 million, while depreciation and amortization was $165 million, compared with $121 million. Income from operations was $472 million, compared with $365 million. Other expense, net, was $48 million, compared with other income, net, of $15 million, and interest expense was $112 million.

Income tax expense was $73 million. Net income was $239 million, compared with $205 million, and diluted net income per common share was $0.70, compared with $0.57. Adjusted EBITDA, a non-GAAP measure, was $691 million, compared with $668 million. For the six months, net income was $484 million.

Subscribers and Operating Metrics

SiriusXM self-pay net additions were 22 thousand in the quarter, compared with a loss of 68 thousand a year earlier. Ending subscribers were 32,869 thousand, and average self-pay monthly churn was 1.4%, compared with 1.5%. ARPU was $15.32, compared with $15.22.

At Pandora, monthly active users across all services were 39,763 thousand, compared with 42,684 thousand a year earlier. Pandora self-pay subscribers were 5,597 thousand, compared with 5,706 thousand. Ad supported listener hours were 2.35 billion, compared with 2.58 billion.

Cash Flow, Debt and Capital Returns

Net cash provided by operating activities was $993 million for the six months ended June 30, 2026, compared with $788 million. Free cash flow, a non-GAAP measure, was $593 million for the quarter. Cash flows used in financing activities included repayment of $2,328 million of debt, offset by proceeds from debt borrowings of $1,989 million, and cash dividends of $182 million.

Total long-term debt was $9,453 million at June 30, 2026, compared with $8,648 million at December 31, 2025. The company had $1,900 million available for future borrowing under its Credit Facility and stated that it was in compliance with its debt covenants.

SiriusXM repurchased shares for $28 million during the six months. Under its $1,166 million authorization, cumulative repurchases since September 2024 totaled 8 million shares for $170 million, and $996 million remained available. From July 1 to July 28, 2026, it repurchased shares for $9 million.

Outlook

The 10-Q does not provide quantitative guidance. The company said it expects to fund operating expenses, capital expenditures, including the construction of replacement satellites, working capital, interest payments, taxes and debt maturities with existing cash, operating cash flow and Credit Facility borrowings. It also stated that it has sufficient cash and debt capacity to cover estimated funding needs, including future stock repurchases and dividend payments.