NEW YORK (CelebrityAccess) — SiriusXM today announced its financial results for the second fiscal quarter of 2025, posting year-over-year declines in both revenue and net income.
The company reported revenue of $2.14 billion for Q2, down 2% compared to the same period in 2024. Net income totaled $205 million, down from $354 million a year ago. Adjusted EBITDA was $668 million, compared to $702 million in Q2 2024.
SiriusXM attributed the declines to revenue shortfalls, partially offset by effective cost-management strategies.
“Our renewed strategic focus continued to deliver this quarter,” said Jennifer Witz, Chief Executive Officer. “We achieved meaningful year-over-year subscriber improvements, signed exciting new content agreements, accelerated momentum in podcasting, and unlocked significant cost efficiencies. We’re seeing deeper engagement from our most loyal listeners, early traction from sustained strength across key performance metrics, and operational improvements. We’re becoming a more focused, more flexible company—centered on delivering real and increasing value to our listeners and driving long-term growth for our business.”
“Our second-quarter results demonstrate the balance we’re achieving between disciplined cost control and strategic investment,” said Tom Barry, Chief Financial Officer. “We maintained a healthy EBITDA margin, generated strong free cash flow, and delivered significant cost savings—all while reallocating capital to areas with the greatest potential impact. These efforts are already contributing to improved subscriber trends and enhancing our performance. In addition, we returned $137 million to shareholders during the quarter, including $92 million in dividends and $45 million in share repurchases. As we look ahead, we remain confident in our strategy and are on track to meet our full-year guidance.”
Segment Results
SiriusXM
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Subscribers: Self-pay subscribers decreased by approximately 68,000—a smaller decline than the same period last year—driven by new acquisition programs. The company ended Q2 with ~33 million total subscribers. The total trial funnel grew to 7.6 million, up from 7.4 million at the end of both Q1 2025 and Q2 2024.
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Revenue: $1.6 billion, down 2% year-over-year.
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ARPU: $15.22, essentially flat compared to Q2 2024, as increases in self-pay subscribers were partially offset by higher fees.
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Costs & Profit: Total cost of services was $648 million, down 1% year-over-year. Gross profit fell 2% to $966 million.
Pandora and Off-Platform
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Revenue: $524 million, down 3% year-over-year.
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Subscriber revenue: $130 million, down 6%.
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Advertising revenue: $394 million, down 2%.
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Drivers: Revenue was impacted by a smaller subscriber base, reduced demand for streaming music, and increased competition. These declines were partially offset by subscription price increases and growth in podcast monetization.
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Profit: Gross profit was $154 million, down 14% year-over-year, reflecting lower advertiser demand for streaming music. Podcasting revenue provided a partial offset.
