Loading...
Docoh

Sirius XM (SIRI)

Sirius XM Holdings Inc. is the leading audio entertainment company in North America, and the premier programmer and platform for subscription and digital advertising-supported audio products. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S. SiriusXM and Pandora's properties reach more than 150 million listeners, the largest addressable audience in the U.S., across all categories of digital audio - music, sports, talk, and podcasts. SiriusXM's acquisitions of Stitcher and Simplecast, alongside industry-leading ad tech company AdsWizz, make it a leader in podcast hosting, production, distribution, analytics and monetization. SiriusXM, through Sirius XM Canada Holdings, Inc., also offers satellite radio and audio entertainment in Canada. In addition to its audio entertainment businesses, SiriusXM offers connected vehicle services to automakers.

Company profile

Ticker
SIRI
Exchange
CEO
James Meyer
Employees
Location
Fiscal year end
Former names
CD RADIO INC, SIRIUS SATELLITE RADIO INC, SIRIUS XM RADIO INC.
SEC CIK
Subsidiaries
Sirius XM Radio Inc. • Automatic Labs Inc. • Satellite CD Radio LLC • Sirius XM Connected Vehicle Services Inc. • Sirius XM Connected Vehicle Services Holdings Inc. • SXM CVS Canada Inc. • XM 1500 Eckington LLC • XM Emall Inc. • XM Investment LLC • XM Radio LLC ...
IRS number
383916511

SIRI stock data

Analyst ratings and price targets

Last 3 months

Calendar

28 Jul 22
9 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 134M 134M 134M 134M 134M 134M
Cash burn (monthly) (no burn) 83.17M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 111.19M n/a n/a n/a n/a
Cash remaining n/a 22.81M n/a n/a n/a n/a
Runway (months of cash) n/a 0.3 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Aug 22 Patrick L Donnelly Common Stock Sell Dispose S No No 6.75 408,274 2.76M 791,342
29 Jul 22 Thomas D Barry Common Stock Payment of exercise Dispose F No No 6.525 301,210 1.97M 418,664
29 Jul 22 Thomas D Barry Common Stock Payment of exercise Dispose F No No 6.515 289,632 1.89M 719,874
29 Jul 22 Thomas D Barry Common Stock Payment of exercise Dispose F No No 6.51 102,467 667.06K 1,009,506
29 Jul 22 Thomas D Barry Common Stock Sell Dispose S No No 6.51 40,793 265.56K 1,111,973
29 Jul 22 Thomas D Barry Common Stock Option exercise Acquire M No No 5.74 108,764 624.31K 1,152,766
29 Jul 22 Thomas D Barry Common Stock Option exercise Acquire M No No 5.73 307,785 1.76M 1,044,002
29 Jul 22 Thomas D Barry Common Stock Option exercise Acquire M No No 5.86 317,025 1.86M 736,217
29 Jul 22 Thomas D Barry Stock Option Common Stock Option exercise Dispose M No No 5.74 108,764 624.31K 217,530
29 Jul 22 Thomas D Barry Stock Option Common Stock Option exercise Dispose M No No 5.73 307,785 1.76M 0
93.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 627 631 -0.6%
Opened positions 71 100 -29.0%
Closed positions 75 77 -2.6%
Increased positions 198 189 +4.8%
Reduced positions 178 171 +4.1%
13F shares Current Prev Q Change
Total value 23.04B 23.07B -0.1%
Total shares 3.65B 3.67B -0.6%
Total puts 17.58M 5.24M +235.5%
Total calls 22.85M 14.43M +58.4%
Total put/call ratio 0.8 0.4 +111.8%
Largest owners Shares Value Change
BATRA Liberty Media Corp. 3.21B $20.13B 0.0%
BLK Blackrock 70.93M $469.55M -12.7%
Vanguard 56.66M $375.07M -15.7%
STT State Street 28.18M $186.57M -3.8%
Geode Capital Management 17.42M $115.22M +1.1%
GS Goldman Sachs 14.81M $98.07M -22.4%
NTRS Northern Trust 13.11M $86.78M +22.6%
Two Sigma Investments 10.55M $69.84M +167.7%
IVZ Invesco 7.9M $52.28M +63.8%
Victory Capital Management 7.64M $45.85M -0.6%
Largest transactions Shares Bought/sold Change
Vanguard 56.66M -10.56M -15.7%
BLK Blackrock 70.93M -10.29M -12.7%
Norges Bank 0 -8.7M EXIT
Millennium Management 4.47M -7.47M -62.5%
Two Sigma Investments 10.55M +6.61M +167.7%
JPM JPMorgan Chase & Co. 5.76M +5.26M +1061.8%
GS Goldman Sachs 14.81M -4.29M -22.4%
Renaissance Technologies 0 -3.11M EXIT
HRT Financial 3.45M +3.08M +834.5%
IVZ Invesco 7.9M +3.07M +63.8%

Financial report summary

?
Competition
Total Sports MediaLiveOne
Risks
  • We have been, and may continue to be, adversely affected by supply chain issues as a result of the global semiconductor supply shortage.
  • The ongoing COVID-19 pandemic has introduced significant uncertainty to our business.
  • We face substantial competition and that competition is likely to increase over time.
  • If our efforts to attract and retain subscribers and listeners, or convert listeners into subscribers, are not successful, our business will be adversely affected.
  • We engage in extensive marketing efforts and the continued effectiveness of those efforts is an important part of our business.
  • We rely on third parties for the operation of our business, and the failure of third parties to perform could adversely affect our business.
  • We may not realize the benefits of acquisitions or other strategic investments and initiatives.
  • A substantial number of our Sirius XM service subscribers periodically cancel their subscriptions and we cannot predict how successful we will be at retaining customers.
  • Our ability to profitably attract and retain subscribers to our Sirius XM service as our marketing efforts reach more price-sensitive consumers is uncertain.
  • Our business depends in part upon the auto industry.
  • Failure of our satellites would significantly damage our business.
  • Our Sirius XM service may experience harmful interference from wireless operations.
  • Our Pandora ad-supported business has suffered a substantial and consistent loss of monthly active users, which may adversely affect our Pandora business.
  • Our failure to convince advertisers of the benefits of our Pandora ad-supported service could harm our business.
  • If we are unable to maintain revenue growth from our advertising products our results of operations will be adversely affected.
  • Changes to mobile operating systems and browsers may hinder our ability to sell advertising and market our services.
  • If we fail to accurately predict and play music, comedy or other content that our Pandora listeners enjoy, we may fail to retain existing and attract new listeners.
  • Privacy and data security laws and regulations may hinder our ability to market our services, sell advertising and impose legal liabilities.
  • Consumer protection laws and our failure to comply with them could damage our business.
  • Failure to comply with FCC requirements could damage our business.
  • If we fail to protect the security of personal information about our customers, we could be subject to costly government enforcement actions and private litigation and our reputation could suffer.
  • Interruption or failure of our information technology and communications systems could impair the delivery of our service and harm our business.
  • The market for music rights is changing and is subject to significant uncertainties.
  • Our Pandora services depend upon maintaining complex licenses with copyright owners, and these licenses contain onerous terms.
  • The rates we must pay for “mechanical rights” to use musical works on our Pandora service have increased substantially and these rates may adversely affect our business.
  • Failure to protect our intellectual property or actions by third parties to enforce their intellectual property rights could substantially harm our business and operating results.
  • Some of our services and technologies may use “open source” software, which may restrict how we use or distribute our services or require that we release the source code subject to those licenses.
  • Rapid technological and industry changes and new entrants could adversely impact our services.
  • We have a significant amount of indebtedness, and our debt contains certain covenants that restrict our operations.
  • We are a “controlled company” within the meaning of the NASDAQ listing rules and, as a result, qualify for, and rely on, exemptions from certain corporate governance requirements.
  • While we currently pay a quarterly cash dividend to holders of our common stock, we may change our dividend policy at any time.
  • Our principal stockholder has significant influence, including over actions requiring stockholder approval, and its interests may differ from the interests of other holders of our common stock.
  • If we are unable to attract and retain qualified personnel, our business could be harmed.
  • Our facilities could be damaged by natural catastrophes or terrorist activities.
  • The unfavorable outcome of pending or future litigation could have an adverse impact on our operations and financial condition.
  • We may be exposed to liabilities that other entertainment service providers would not customarily be subject to.
  • Our business and prospects depend on the strength of our brands.
Management Discussion
  • Set forth below are our results of operations for the three and six months ended June 30, 2022 compared with the three and six months ended June 30, 2021. The results of operations are presented for each of our reporting segments for revenue and cost of services and on a consolidated basis for all other items.
  • Sirius XM Subscriber Revenue includes fees charged for self-pay and paid promotional subscriptions, U.S. Music Royalty Fees and other ancillary fees.
  • For the three months ended June 30, 2022 and 2021, subscriber revenue was $1,588 and $1,508, respectively, an increase of 5%, or $80. For the six months ended June 30, 2022 and 2021, subscriber revenue was $3,170 and $2,989, respectively, an increase of 6%, or $181. The increases were primarily driven by increases of 7% and 8% in ARPU for the three and six month periods, respectively, as a result of higher self-pay revenue and U.S. Music Royalty Fees, partially offset by a decrease in paid promotional subscribers driving lower revenue generated from automakers offering paid promotional subscriptions.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Good
New words: demonstrate, expedited, Florida, forcefully, foreclosed, Georgia, light, organization, precedent, removed, seasonally, SiriusXM, slightly, strong, upheld, validity
Removed: assigned, baseline, Boeing, classification, commonly, feature, local, long, power, reduced, remeasured, representing