Filing Flows › Sirius XM Holdings (SIRI) › Q3 2025
Sirius XM Holdings (SIRI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Sirius XM Holdings (SIRI) reported revenue of $2.2B for the third quarter 2025 (Q3 2025), -0.6% from a year earlier and +1% from the quarter before. Operating margin was 22.8%, net earnings $297M (13.8% of revenue).
Sirius XM Holdings, Q3 2025: revenue $2.2B (-0.6% year over year), operating margin 22.8%, net earnings $297M, operating cash flow $430M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2B | +1% | -0.6% |
| Gross profit | $1.1B | +0.7% | -2% |
| Operating profit | $493M | +35% | — |
| Net earnings | $297M | +45% | — |
| Operating cash flow | $430M | -21% | +39% |
| Free cash flow | $257M | — | +176% |
What changed
Revenue was $2.2B in Q3 2025, down 1% year over year and up 1% from the previous quarter. Subscriber revenue was the largest line at 75% of revenue. Subscriber revenue lost $0.02B year over year (down 1%), 133% of the total change.
Gross margin was 52.2%, down 1.0 points from a year earlier. Operating profit was $0.49B, a 22.8% margin (up 156.5 points year over year). Operating expenses fell 84% while revenue fell 1%. Net earnings were $0.30B. The effective tax rate was 23.5%.
Operating cash flow was $0.43B (up 39% year over year), 145% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.04B of share-based compensation. After itions to property and equipment, net ($0.17B), free cash flow as the company reports it was $0.26B.
Questions
What was Sirius XM Holdings' revenue in the third quarter 2025?
Sirius XM Holdings (SIRI) reported revenue of $2.2B for the third quarter 2025 (Q3 2025), -0.6% from a year earlier and +1% from the quarter before.
Was Sirius XM Holdings profitable in the third quarter 2025?
Operating profit was $493M (22.8% of revenue) and net earnings $297M.
Source: Sirius XM Holdings 10-Q on SEC EDGAR.