SI
SIRI
SIRI What Sirius XM Holdings promised, and what happened
Guidance
What management said, and what became of it
11 of 12 judged targets kept · 26 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Long-term net leverage ratio target | low to mid-3x adjusted EBITDA | Sep 2024 | We ended the quarter with net leverage of 3.4x adjusted EBITDA, reaching our long-term target range of low to mid 3x. | Achieved |
| Full-year adjusted EBITDA guidance | approximately $2.6 billion | Dec 2025 | We now expect approximately $8.525 billion of revenue, $2.625 billion of adjusted EBITDA and $1.375 billion of free cash flow for the year. | Revised Up |
| Full-year ARPU trend guide | Strong ARPU performance carrying forward into 2026 | Dec 2025 | SiriusXM subscriber revenue increased 1% to $1.5 billion, reflecting a 1% increase in ARPU to $15.32 | On Track |
The full ledger
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The rest of the ledger
Pro opens all 38 tracked commitments for Sirius XM Holdings
Above is what the last two calls moved. Pro adds every quarter's revision, the source quote behind each one, and the topics management has stopped answering.