Filing Flows › Sirius XM Holdings (SIRI) › Q2 2026 › vs Q1 2026
Sirius XM Holdings (SIRI) Q2 2026 vs Q1 2026 (quarter over quarter)
Sirius XM Holdings's revenue rose $69.0M (+3%) from $2.1B in Q1 2026 to $2.2B in Q2 2026. The biggest changes: Advertising revenue +$47.0M (+12%); Subscriber revenue +$26.0M (+2%); Other revenue −$4.0M (-6%). Gross margin 53.0% against 52.8% (+0.1 pts).
Sirius XM Holdings, Q2 2026: revenue $2.2B (+1% year over year), operating margin 21.9%, net earnings $239M, operating cash flow $722M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 53.0% | 52.8% | +0.1 pts |
| Operating margin | 21.9% | 21.7% | +0.1 pts |
| Net margin | 11.1% | 11.7% | -0.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Equipment revenue | $36.0M | $41.0M | −$5.0M | -12% |
| Other revenue | $32.0M | $31.0M | $1.0M | +3% |
| Other revenue | $68.0M | $72.0M | −$4.0M | -6% |
| Subscriber revenue | $1.6B | $1.6B | $26.0M | +2% |
| Advertising revenue | $454M | $407M | $47.0M | +12% |
| Revenue | $2.2B | $2.1B | $69.0M | +3% |
| Gross profit | $1.1B | $1.1B | $39.0M | +4% |
| Cost of revenue | $1.0B | $986M | $30.0M | +3% |
| Operating profit | $472M | $454M | $18.0M | +4% |
| Operating expenses | $672M | $651M | $21.0M | +3% |
| Pre-tax earnings | $312M | $326M | −$14.0M | -4% |
| Other expense, net | $160M | $128M | $32.0M | +25% |
| Research & development | $56.0M | $69.0M | −$13.0M | -19% |
| Sales & marketing | $188M | $187M | $1.0M | +0.5% |
| General & admin | $136M | $122M | $14.0M | +11% |
| Other operating costs | $292M | $273M | $19.0M | +7% |
| Net earnings | $239M | $245M | −$6.0M | -2% |
| Income tax | $73.0M | $81.0M | −$8.0M | -10% |
| Depreciation & amortization | $134M | $120M | $14.0M | +12% |
| Share-based compensation | $48.0M | $54.0M | −$6.0M | -11% |
| Working capital & other | $301M | −$148M | $449M | — |
| Operating cash flow | $722M | $271M | $451M | +166% |
Questions
How much did Sirius XM Holdings's revenue grow quarter over quarter in Q2 2026?
Sirius XM Holdings's revenue rose $69.0M (+3%) from $2.1B in Q1 2026 to $2.2B in Q2 2026.
What drove Sirius XM Holdings's revenue change in Q2 2026?
Advertising revenue +$47.0M (+12%); Subscriber revenue +$26.0M (+2%); Other revenue −$4.0M (-6%).