Filing Flows › Sirius XM Holdings (SIRI) › Q4 2025
Sirius XM Holdings (SIRI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 5, 2026
Sirius XM Holdings (SIRI) reported revenue of $2.2B for the fourth quarter 2025 (Q4 2025), +0.2% from a year earlier and +2% from the quarter before. Operating margin was 10.3%, net earnings $99.0M (4.5% of revenue).
Sirius XM Holdings, Q4 2025: revenue $2.2B (+0.2% year over year), operating margin 10.3%, net earnings $99.0M, operating cash flow $680M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2B | +2% | +0.2% |
| Gross profit | $1.2B | +3% | +0.3% |
| Operating profit | $226M | -54% | -55% |
| Net earnings | $99.0M | -67% | -66% |
| Operating cash flow | $680M | +58% | +0.1% |
| Free cash flow | $541M | — | +5% |
What changed
Revenue was $2.2B in Q4 2025, roughly flat year over year and up 2% from the previous quarter. Subscriber revenue was the largest line at 74% of revenue.
Gross margin was 53.0%, up 0.1 points from a year earlier. Operating profit was $0.23B, a 10.3% margin (down 12.8 points year over year). Operating profit fell $0.28B even though revenue rose $0.01B versus a year earlier, so costs grew faster than sales. Operating expenses grew 43% against flat revenue. The fastest-growing cost line was Other operating costs (+115%). Net earnings were $0.10B, down 66% year over year. The effective tax rate was 26.7%.
Operating cash flow was $0.68B (roughly flat year over year), 687% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.43B. After itions to property and equipment, net ($0.14B), free cash flow as the company reports it was $0.54B.
Questions
What was Sirius XM Holdings' revenue in the fourth quarter 2025?
Sirius XM Holdings (SIRI) reported revenue of $2.2B for the fourth quarter 2025 (Q4 2025), +0.2% from a year earlier and +2% from the quarter before.
Was Sirius XM Holdings profitable in the fourth quarter 2025?
Operating profit was $226M (10.3% of revenue) and net earnings $99.0M.
Source: Sirius XM Holdings 10-K on SEC EDGAR.