v3.26.1
Segments and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
Segment revenue and gross profit were as follows during the periods presented:
For the Three Months Ended June 30, 2026
SiriusXM
Pandora and Off-platformTotal
Revenue
Subscriber revenue$1,508 $130 $1,638 
Advertising revenue41 413 454 
Other revenue68 — 68 
Total revenue1,617 543 2,160 
Cost of services
Revenue share and royalties(382)(340)(722)
Programming and content (a)
(124)(13)(137)
Other (a)(b)
(130)(27)(157)
Total cost of services
(636)(380)(1,016)
Segment gross profit$981 $163 $1,144 
For the Three Months Ended June 30, 2025
SiriusXMPandora and Off-platformTotal
Revenue
Subscriber revenue$1,499 $130 $1,629 
Advertising revenue38 394 432 
Other revenue77 — 77 
Total revenue1,614 524 2,138 
Cost of services
Revenue share and royalties(391)(331)(722)
Programming and content (c)
(128)(13)(141)
Other (c)(d)
(129)(26)(155)
Total cost of service
(648)(370)(1,018)
Segment gross profit$966 $154 $1,120 
For the Six Months Ended June 30, 2026
SiriusXM
Pandora and Off-platformTotal
Revenue
Subscriber revenue$2,991 $259 $3,250 
Advertising revenue76 785 861 
Other revenue140 — 140 
Total revenue3,207 1,044 4,251 
Cost of services
Revenue share and royalties(759)(660)(1,419)
Programming and content (e)
(247)(27)(274)
Other (e)(f)
(254)(55)(309)
Total cost of services(1,260)(742)(2,002)
Segment gross profit$1,947 $302 $2,249 
For the Six Months Ended June 30, 2025
Sirius XMPandora and Off-platformTotal
Revenue
Subscriber revenue$2,969 $262 $3,231 
Advertising revenue77 749 826 
Other revenue149 — 149 
Total revenue3,195 1,011 4,206 
Cost of services
Revenue share and royalties(770)(639)(1,409)
Programming and content (g)
(257)(28)(285)
Other (g)(h)
(265)(51)(316)
Total cost of services(1,292)(718)(2,010)
Segment gross profit$1,903 $293 $2,196 
Schedule of Reconciliation of Revenue from Segments to Consolidated
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Three Months Ended June 30, 2026
Segment Gross Profit$1,144 
Subscriber acquisition costs(109)
Sales and marketing (a)
(176)
Product and technology (a)
(47)
General and administrative (a)
(121)
Depreciation and amortization(165)
Share-based payment expense(48)
Impairment, restructuring and other costs
(6)
Total other expense(160)
Consolidated income before income taxes
$312 
(a)     Share-based payment expense of $12 related to cost of services, $12 related to sales and marketing, $9 related to product and technology and $15 related to general and administrative has been excluded for the three months ended June 30, 2026.
(b)    SiriusXM other costs of services related to customer service and billing of $90, transmission costs of $39 and cost of equipment of $1. Pandora and Off-platform other costs of services related to customer service and billing of $18 and transmission costs of $9.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Three Months Ended June 30, 2025
Segment Gross Profit$1,120 
Subscriber acquisition costs(107)
Sales and marketing (c)
(173)
Product and technology (c)
(48)
General and administrative (c)
(152)
Depreciation and amortization(121)
Share-based payment expense(47)
Impairment, restructuring and other costs(107)
Total other expense(101)
Consolidated income before income taxes$264 
(c)     Share-based payment expense of $13 related to cost of services, $12 related to sales and marketing, $8 related to product and technology and $14 related to general and administrative has been excluded for the three months ended June 30, 2025.
(d)    SiriusXM other costs of services related to customer service and billing of $90, transmission costs of $37 and cost of equipment of $2. Pandora and Off-platform other costs of services related to customer service and billing of $19 and transmission costs of $7.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Six Months Ended June 30, 2026
Segment Gross Profit$2,249 
Subscriber acquisition costs(209)
Sales and marketing (e)
(352)
Product and technology (e)
(106)
General and administrative (e)
(226)
Depreciation and amortization(316)
Share-based payment expense(102)
Impairment, restructuring and other costs
(12)
Total other expense(288)
Consolidated income before income taxes
$638 
(e)     Share-based payment expense of $28 related to cost of services, $23 related to sales and marketing, $19 related to product and technology and $32 related to general and administrative has been excluded for the six months ended June 30, 2026.
(f)    SiriusXM other costs of services related to customer service and billing of $175, transmission costs of $76 and cost of equipment of $3. Pandora and Off-platform other costs of services related to customer service and billing of $38 and transmission costs of $17.
The reconciliation between reportable segment gross profit to consolidated income before income tax is as follows:
For the Six Months Ended June 30, 2025
Segment Gross Profit$2,196 
Subscriber acquisition costs(207)
Sales and marketing (g)
(349)
Product and technology (g)
(111)
General and administrative (g)
(260)
Depreciation and amortization(265)
Share-based payment expense(97)
Impairment, restructuring and other costs
(155)
Total other expense(219)
Consolidated income before income taxes$533 
(g)     Share-based payment expense of $25 related to cost of services, $26 related to sales and marketing, $18 related to product and technology and $28 related to general and administrative has been excluded for the six months ended June 30, 2025.
(h)    SiriusXM other costs of services related to customer service and billing of $183, transmission costs of $78 and cost of equipment of $4. Pandora and Off-platform other costs of services related to customer service and billing of $37 and transmission costs of $14.