secwatch.observer — SEC 8-K summary
======================================

Issuer:     SIRIUS XM HOLDINGS INC. (SIRI)
CIK:        0000908937
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0000908937-24-000026
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SiriusXM Q3 net loss $2.96B on $3.36B goodwill impairment; revenue down 4%
--------------------------------------------------------------------------

- Net loss of $2.96B ($8.74 diluted EPS) driven by non-cash goodwill impairment of $3.36B from Liberty Media merger close.
- Revenue $2.17B (-4% YoY); full-year 2024 revenue guidance reduced to ~$8.675B from prior outlook.
- Adjusted EBITDA $693M (32% margin); free cash flow $93M, down 64% YoY, hit by $72M in transaction costs.
- SiriusXM added 14K self-pay subscribers; Pandora lost 76K self-pay subs; churn held at 1.6%.
- Reaffirmed full-year adjusted EBITDA (~$2.7B) and free cash flow (~$1B) guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908937/000090893724000026/0000908937-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908937/000090893724000026/siri-20241031.htm
  HTML page:      https://secwatch.observer/filing/0000908937-24-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer