SiriusXM Q2 Earnings: Subscriber Growth Returns, Guidance Raised
SIRI sits 45% above its 52-week low of $19.765.
Summary
SiriusXM reported Q2 2026 earnings with 22,000 self-pay subscriber additions—the first positive Q2 in four years—and raised full-year guidance by $25 million across key metrics.
Key Events · Earnings and Guidance · SIRI
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Subscriber Growth Returns
SiriusXM added 22,000 self-pay subscribers in Q2 2026, the first positive second quarter in four years, driven by companion subscriptions and record-low churn of 1.4%.
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Strong Financial Performance
Revenue rose 1% to $2.16B, net income increased 17% to $239M, and free cash flow surged 48% to $593M, supported by higher EBITDA and lower cash taxes.
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Full-Year Guidance Raised
Management increased 2026 guidance by $25M across revenue ($8.525B), adjusted EBITDA ($2.625B), and free cash flow ($1.375B), reflecting confidence in the turnaround.
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Cost Discipline and Margin Expansion
Adjusted EBITDA margin expanded to 32%, up one percentage point, driven by lower programming, legal, and personnel costs, while gross margins improved in both segments.
Analysis · SIRI · Technology
SiriusXM delivered a strong second quarter, reversing a four-year trend of subscriber losses with 22,000 self-pay net additions. Revenue grew 1% to $2.16 billion, net income jumped 17% to $239 million, and free cash flow surged 48% to $593 million. Management raised full-year guidance by $25 million across revenue, adjusted EBITDA, and free cash flow, signaling confidence in the turnaround. The results validate the company's strategic reset and disciplined cost management, though the stock's reaction will hinge on whether this subscriber growth is sustainable.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.6% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SIRI was trading at $28.70 on NASDAQ in the Technology sector, with a market capitalization of approximately $11B. The 52-week trading range was $19.77 to $32.66. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.