Filing Flows › Sirius XM Holdings (SIRI) › Q1 2025
Sirius XM Holdings (SIRI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Sirius XM Holdings (SIRI) reported revenue of $2.1B for the first quarter 2025 (Q1 2025), -4% from a year earlier and -5% from the quarter before. Operating margin was 18.7%, net earnings $204M (9.9% of revenue).
Sirius XM Holdings, Q1 2025: revenue $2.1B (-4% year over year), operating margin 18.7%, net earnings $204M, operating cash flow $242M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | -5% | -4% |
| Gross profit | $1.1B | -7% | -5% |
| Operating profit | $387M | -23% | -5% |
| Net earnings | $204M | -29% | -15% |
| Operating cash flow | $242M | -64% | -8% |
| Free cash flow | $56.0M | — | — |
What changed
Revenue was $2.1B in Q1 2025, down 4% year over year and down 5% from the previous quarter. Subscriber revenue was the largest line at 77% of revenue. Subscriber revenue lost $0.08B year over year (down 5%), 83% of the total change.
Gross margin was 52.0%, down 0.5 points from a year earlier. Operating profit was $0.39B, a 18.7% margin (down 0.2 points year over year). Operating expenses fell 5% while revenue fell 4%. Net earnings were $0.20B, up 3% year over year. The effective tax rate was 24.2%.
Operating cash flow was $0.24B (down 8% year over year), 119% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.12B. After itions to property and equipment, net ($0.19B), free cash flow as the company reports it was $0.06B.
Questions
What was Sirius XM Holdings' revenue in the first quarter 2025?
Sirius XM Holdings (SIRI) reported revenue of $2.1B for the first quarter 2025 (Q1 2025), -4% from a year earlier and -5% from the quarter before.
Was Sirius XM Holdings profitable in the first quarter 2025?
Operating profit was $387M (18.7% of revenue) and net earnings $204M.
Source: Sirius XM Holdings 10-Q on SEC EDGAR.