Filing Flows › Sirius XM Holdings (SIRI) › Q1 2026
Sirius XM Holdings (SIRI) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Sirius XM Holdings (SIRI) reported revenue of $2.1B for the first quarter 2026 (Q1 2026), +1% from a year earlier and -5% from the quarter before. Operating margin was 21.7%, net earnings $245M (11.7% of revenue).
Sirius XM Holdings, Q1 2026: revenue $2.1B (+1% year over year), operating margin 21.7%, net earnings $245M, operating cash flow $271M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | -5% | +1% |
| Gross profit | $1.1B | -5% | +3% |
| Operating profit | $454M | +101% | +17% |
| Net earnings | $245M | +147% | +20% |
| Operating cash flow | $271M | -60% | +12% |
| Free cash flow | $171M | — | +205% |
What changed
Revenue was $2.1B in Q1 2026, up 1% year over year and down 5% from the previous quarter. Subscriber revenue was the largest line at 77% of revenue. Advertising revenue added $0.01B year over year (up 3%), 57% of the total change.
Gross margin was 52.8%, up 0.8 points from Q1 2025. Operating profit was $0.45B, a 21.7% margin (up 3.0 points year over year). Of the extra revenue versus Q1 2025, 291% reached operating profit, above the 19% margin then. Operating expenses fell 6% while revenue rose 1%. Net earnings were $0.24B, up 20% year over year. The effective tax rate was 24.8%.
Operating cash flow was $0.27B (up 12% year over year), 111% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.15B. After itions to property and equipment, net ($0.10B), free cash flow as the company reports it was $0.17B.
Questions
What was Sirius XM Holdings' revenue in the first quarter 2026?
Sirius XM Holdings (SIRI) reported revenue of $2.1B for the first quarter 2026 (Q1 2026), +1% from a year earlier and -5% from the quarter before.
Was Sirius XM Holdings profitable in the first quarter 2026?
Operating profit was $454M (21.7% of revenue) and net earnings $245M.
Source: Sirius XM Holdings 10-Q on SEC EDGAR.