SiriusXM kicked off the Q2 earnings report season today noting a 1% year-over-year consolidated revenue increase to $2.16 billion.
The company’s net income rose 17% to $239 million as the company had its first positive growth Q2 in four years with 22,000 new self-pay subscribers bringing the company to approximately 33 million subscribers. SiriusXM also said its self-pay monthly churn rate dropped to 1.4%, which is the lowest in the company’s history.
SiriusXM advertising revenue was up 8% in the quarter to $41 million, which the company said was supported by robust advertiser demand across sports, particularly around the FIFA World Cup 2026 and college sports, partially offset by softer demand in news. Equipment revenue decreased by 22% from last year due to higher memory costs for hardware modules.
Pandora and off-platform revenue was up 4% from Q2 2025 with a 5% increase in ad revenue to $413 million through podcasting and higher programmatic demand, while streaming music softened.
SiriusXM CEO Jennifer Witz said, “Since resetting our strategy, we’ve been focused on building a stronger, more durable SiriusXM, and our second-quarter performance demonstrates that strategy is delivering meaningful results. We achieved positive second-quarter self pay net additions for the first time in four years, strengthened engagement and retention across our subscriber base, and continue to build momentum by delivering premium content and experiences that deepen our connection with listeners while creating new opportunities for advertisers. These results reflect disciplined execution and give us the confidence to raise our full-year guidance for revenue, Adjusted EBITDA, and free cash flow. We remain focused on creating long-term value by investing in the areas that strengthen our listener relationships and further differentiate SiriusXM.”
CFO Zac Coughlin followed, “Our financial performance in the first half of the year reflects the durability of our business model and our disciplined approach to execution. We grew ARPU, expanded margins, generated strong free cash flow, reduced debt and reached our long-term leverage target, demonstrating our ability to strengthen the business while continuing to invest in our strategic priorities. With a strong balance sheet and consistent cash generation, we are well positioned to execute our balanced capital allocation strategy—investing in the business, maintaining financial flexibility, and returning capital to shareholders.”
