Sirius XM (SIRI) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Speaker0 As a reminder, this conference is being recorded. It is now my pleasure to introduce Hooper Stevens, Senior Vice President of Investor Relations and Finance. Thank you, Hooper. You may begin. Speaker1 Thank you, and good morning, everyone. Welcome to SiriusXM's first quarter twenty twenty five earnings conference call. Today, we will have prepared remarks from Jennifer Witz, our Chief Executive Officer and Tom Barry, our Chief Financia ...

Sirius XM (SIRI) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Company Participants Hooper Stevens - Senior Vice President & Head of Investor RelationsJennifer Witz - CEOThomas Barry - Chief Financial OfficerKutgun Maral - DirectorWayne Thorsen - EVP & COOJessica Reif Ehrlich - Managing DirectorStephen Laszczyk - Vice President Conference Call Participants Sebastiano Petti - Senior Research AnalystSteven Cahall - Managing Director, Senior Analyst - Media, Advertising & CableBarton Crockett - Managing Direc ...

Financial Performance - SiriusXM reported Q1 2025 revenue of $2.07 billion, a 4% decrease from Q1 2024[2]. - Net income for Q1 2025 was $204 million, down from $241 million in the prior-year period, with diluted earnings per share at $0.59 compared to $0.63[2][6]. - Adjusted EBITDA was $629 million, reflecting a 3% decline from $650 million in the same period last year, maintaining a stable adjusted EBITDA margin of 30%[3][6]. - Total revenue decreased by 4% to $2,068 million in Q1 2025 from $2,162 million in Q1 2024[28]. - Sirius XM subscriber revenue declined by 5% to $1,470 million, while total Sirius XM revenue fell by 5% to $1,581 million[28]. - Free cash flow for Q1 2025 was $56 million, a decrease of 36% year-over-year, primarily due to timing of payments and higher capital expenditures[17]. - Free cash flow decreased by 36% to $56 million in Q1 2025 compared to $88 million in Q1 2024[34]. - The company reaffirmed its full-year 2025 guidance, projecting total revenue of approximately $8.5 billion, adjusted EBITDA of approximately $2.6 billion, and free cash flow of approximately $1.15 billion[19]. Subscriber Metrics - SiriusXM's total subscribers stood at 33 million, with self-pay subscribers decreasing by approximately 303,000, but showing a 16% improvement in churn rate at 1.6%[10]. - The total number of Sirius XM subscribers decreased by 2% to 32,864 thousand from 33,430 thousand year-over-year[31]. - The average self-pay monthly churn rate improved to 1.6% from 1.7% year-over-year[32]. - SiriusXM reaches a combined monthly audience of approximately 160 million listeners across its audio businesses[36]. Cost Management - Sales and marketing expenses decreased by 19% to $176 million, reflecting the company's efforts to optimize its cost structure[16]. - Total operating expenses decreased by 4% to $1,681 million in Q1 2025 from $1,753 million in Q1 2024[28]. - Subscriber acquisition costs (SAC) per installation increased to $18.86 in Q1 2025 from $12.50 in Q1 2024, representing a 50.88% increase[35]. - Subscriber acquisition costs, excluding connected vehicle services, were $100 million in Q1 2025 compared to $90 million in Q1 2024, reflecting an increase of 11.11%[35]. Podcast and Advertising Performance - The podcast business grew significantly, achieving almost one billion downloads and a 33% year-over-year increase in podcast revenue, reaching 70 million monthly listeners[7]. - Pandora and Off-platform revenue totaled $487 million, a 2% decrease from the prior-year period, driven by weaker advertising performance[13]. Strategic Developments - SiriusXM's automotive platform 360L is expanding through a new agreement with Mitsubishi, expected to feature in new vehicles through 2030[8]. - The company repurchased and retired $25 million of common stock during the quarter[34]. Market Challenges and Risks - The company faces substantial competition and has experienced a loss of subscribers in its SiriusXM service and a decline in monthly active users for its Pandora ad-supported service[38]. - Future operations and financial results are subject to significant uncertainties and may differ materially from current expectations[37]. - The company relies on third parties for operations, and any failure in their performance could adversely affect business[38]. - The impact of economic conditions may negatively affect the company's operating results and financial condition[38]. - The company may change its dividend policy at any time, reflecting potential shifts in capital structure[38].

May 1, 2025 FIRST QUARTER 2025 OPERATING AND FINANCIAL RESULTS 1 CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our outlook and our future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements ident ...

Sirius XM (SIRI) is scheduled to report its first-quarter 2025 results on May 1.See the Zacks Earnings Calendar to stay ahead of market-making news.The Zacks Consensus Estimate for SIRI’s first-quarter 2025 revenues is currently pegged at $2.08 billion, indicating a 3.66% decrease from the year-ago quarter’s reported figure.The consensus mark for earnings has remained unchanged at 70 cents per share in the past 30 days. The estimate implies no year-over-year change.SIRI surpassed the Zacks Consensus Estimat ...

Wall Street analysts expect Sirius XM (SIRI) to post quarterly earnings of $0.70 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $2.08 billion, down 3.7% from the year-ago quarter. The collective assessment of analysts points to an estimated 'Revenue- Sirius XM- Total' of $1.59 billion. The estimate indicates a year-over-year change of -4.3%. It is projected by analysts that the 'Revenue- Pandora and Off-platform- Total' will reach $482.97 m ...

The market expects Sirius XM (SIRI) to deliver flat earnings compared to the year-ago quarter on lower revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on May 1, 2025, might help the stock move higher if these key numbers ar ...

The most recent trading session ended with Sirius XM (SIRI) standing at $20.32, reflecting a +0.79% shift from the previouse trading day's closing. This change lagged the S&P 500's 2.51% gain on the day. Meanwhile, the Dow experienced a rise of 2.66%, and the technology-dominated Nasdaq saw an increase of 2.71%.Coming into today, shares of the satellite radio company had lost 15.83% in the past month. In that same time, the Consumer Discretionary sector lost 9.2%, while the S&P 500 lost 8.86%.Analysts and i ...

It's been a rough year for most stocks. Sirius XM Holdings (SIRI 1.15%) is no exception. Since 2025 began, shares have fallen by roughly 10%.According to several metrics, Sirius XM stock looks like a screaming buy. Might it be time to buy shares like there's no tomorrow?2 charts that show just how cheap Sirius XM stock isAs the largest satellite radio network, with more than 33 million subscribers, most investors are well aware of how Sirius XM generates revenue. Most of its revenue is generated by subscrip ...

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