"Total revenue -- $8.56 billion for the full year, modestly ahead of increased guidance and nearly flat for the quarter at $2.19 billion. Adjusted EBITDA -- $2.67 billion full-year, yielding a 31% margin, and $691 million for the quarter, both modestly up versus 2024 guidance. Free cash flow -- $1.26 billion full-year, exceeding original guidance by over $100 million; Q4 free cash flow was $541 million, up 5% compared to last year."
"Net income -- $805 million, rebounding from a negative $2.1 billion in the prior year, reflecting the absence of Liberty Media-related impairment charges. Earnings per diluted share -- $2.23, up from negative $6.14 in 2024. Total subscription revenue -- $6.49 billion, down 2% on a year-over-year basis, reflecting benefit from March rate increase but a smaller average self-pay subscriber base. Advertising revenue -- $1.77 billion full-year and $491 million in Q4, up 3% in the quarter, with full-year podcast advertising revenue growth of 41%."
"Pandora/off-platform segment revenue -- $2.14 billion for the year, with Q4 gross margin at 36% and full-year margin at 31%. Cost savings realized -- $250 million, outpacing the stated in-year cost-savings target of $200 million. Self-pay net adds -- 110,000 for Q4, with approximately 80,000 attributed to companion subscriptions during the quarter. Churn rate -- 1.5% full-year, improved from 1.6% last year; Q4 achieved a 1.4% record low."
Sirius XM reported $8.56 billion in total revenue for the year and $2.19 billion in Q4. Adjusted EBITDA reached $2.67 billion (31% margin) with quarterly adjusted EBITDA of $691 million. Free cash flow totaled $1.26 billion and Q4 free cash flow was $541 million. Net income returned to $805 million and diluted EPS was $2.23. Total subscription revenue fell 2% to $6.49 billion while advertising grew, including 41% podcast ad growth. Pandora/off-platform revenue was $2.14 billion. Cost savings reached $250 million. Self-pay net adds were 110,000 and churn improved to 1.5%.
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