#subscribers

#subscribers

In its newly released Q4 earnings report, SiriusXM held steady on the revenue side, compared to Q4 2024. The subscriber count, always an important piece of the puzzle, Q4 gave a welcome lift to a downward moving full year. In all of 2025, Sirius lost 301,000 self-pay subs. Within that picture the fourth quarter offered uplift, as 110,000 new self-paying users signed up.

Revenue -- $78.9 million, up 4.2% year over year and 5.2% quarter over quarter, surpassing the high end of the $76 million to $78 million guidance range. Adjusted EBITDA -- $13.7 million, representing 17.4% of revenue; exceeded guidance of 14%-15% margin and marks the ninth consecutive quarter of positive adjusted EBITDA. Active Subscribers (Quarter-End) -- 129,073, a decline of 6.2% year over year; average active subscribers were 137,455, down 2.8% from the prior year.

"EBITDA growth in the fourth quarter will be pressured by at least as much as it was in the third quarter, given last year's political advertising strength and the same macro pressures we saw in the third quarter."