NEW YORK , Feb. We finished ahead of our guidance across the board, with record revenue, adjusted EBITDA and free cash flow.

With more than 31 million subscribers, SiriusXM has never had more paying customers. We added a new daily talk show with Craig Ferguson , and launched a new daily music show, "Hits 1 in Hollywood ", broadcasting live from SiriusXM's Los Angeles studios. We also provided our subscribers access to one-of-a-kind events, such as Bon Jovi live in Miami.

We never stand still in our quest to have the freshest, most relevant content in the audio entertainment industry, from music to sports to talk to comedy and beyond," added Meyer. Our debt to adjusted EBITDA was just 3. In , we expect to make further investments in content, satellites, and technology while continuing strong capital returns to stockholders," noted David Frear , Chief Financial Officer, SiriusXM.

Our full-year guidance for net subscribers, revenue, adjusted EBITDA, and free cash flow, originally issued on January 5, , is as follows:. Shares of common stock may be purchased from time to time on the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b under the Exchange Act of , as amended, in privately negotiated transactions, including in accelerated stock repurchase transactions and transactions with Liberty Media and its affiliates, or otherwise.

The company expects to fund the additional repurchases through a combination of cash on hand, cash generated by operations and future borrowings. The size and timing of these purchases will be based on a number of factors, including price and business and market conditions. Our dividend policy may change at any time without notice to our stockholders. The declaration and payment of dividends is at the discretion of our Board of Directors in accordance with applicable law after taking into account various factors, including our financial condition, operating results, current and anticipated cash needs, limitations imposed by our indebtedness, legal requirements and other factors that our Board of Directors deems relevant.

For the Three Months Ended December 31,. For the Twelve Months Ended December 31,.

Sirius XM Announces Additional $2 Billion Stock Repurchase Program - Pg.3 - TheStreet

Loss on extinguishment of debt and credit facilities, net. Foreign currency translation adjustment, net of tax. Accumulated other comprehensive loss, net of tax. Total liabilities and stockholders' deficit equity. SIRIUS XM HOLDINGS INC. Adjustments to reconcile net income to net cash provided by operating activities: Non-cash interest expense, net of amortization of premium. Amortization of deferred income related to equity method investment. Dividend received from unconsolidated entity investment.

Taxes paid in lieu of shares issued for stock-based compensation. Proceeds from long-term borrowings and revolving credit facility, net of costs. Repayment of long-term borrowings and revolving credit facility. Net increase decrease in cash and cash equivalents. Cash and cash equivalents at beginning of period. Subscribers and subscription related revenues and expenses associated with our connected vehicle services and Sirius XM Canada are not included in our subscriber count or subscriber-based operating metrics.

Customer service and billing expenses, per average subscriber. Diluted weighted average common shares outstanding GAAP. We adjust EBITDA to exclude the impact of other income as well as certain other charges discussed below. Adjusted EBITDA is one of the primary Non-GAAP financial measures we use to i evaluate the performance of our on-going core operating results period over period, ii base our internal budgets and iii compensate management.

Adjusted EBITDA is a Non-GAAP financial measure that excludes if applicable: We believe adjusted EBITDA is a useful measure of the underlying trend of our operating performance, which provides useful information about our business apart from the costs associated with our capital structure and purchase price accounting. We believe investors find this Non-GAAP financial measure useful when analyzing our past operating performance with our current performance and comparing our operating performance to the performance of other communications, entertainment and media companies.

We believe investors use adjusted EBITDA to estimate our current enterprise value and to make investment decisions. Because of large capital investments in our satellite radio system our results of operations reflect significant charges for depreciation expense. We believe the exclusion of share-based payment expense is useful as it is not directly related to the operational conditions of our business.

We also believe the exclusion of the legal settlements and reserves related to the historical use of sound recordings and loss on disposal of assets is useful as they are significant expenses not incurred as part of our normal operations for the period.

Adjusted EBITDA has certain limitations in that it does not take into account the impact to our statements of comprehensive income of certain expenses, including share-based payment expense and certain purchase price accounting for the merger of Sirius and XM. We endeavor to compensate for the limitations of the Non-GAAP measure presented by also providing the comparable GAAP measure with equal or greater prominence and descriptions of the reconciling items, including quantifying such items, to derive the Non-GAAP measure.

Investors that wish to compare and evaluate our operating results after giving effect for these costs, should refer to net income as disclosed in our consolidated statements of comprehensive income.

Since adjusted EBITDA is a Non-GAAP financial performance measure, our calculation of adjusted EBITDA may be susceptible to varying calculations; may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation, as a substitute for, or superior to measures of financial performance prepared in accordance with GAAP.

The reconciliation of net income to the adjusted EBITDA is calculated as follows: Other subscription-related revenue includes the U. ARPU is calculated as follows:. Subscriber revenue, excluding connected vehicle services. We believe the exclusion of share-based payment expense in our calculation of customer service and billing expenses, per average subscriber, is useful as share-based payment expense is not directly related to the operational conditions that give rise to variations in the components of our customer service and billing expenses.

Customer service and billing expenses, per average subscriber, is calculated as follows:. Customer service and billing expenses, excluding connected vehicle services. Free cash flow is a metric that our management and board of directors use to evaluate the cash generated by our operations, net of capital expenditures and other investment activity and significant items that do not relate to the on-going performance of our business.

In a capital intensive business, with significant investments in satellites, we look at our operating cash flow, net of these investing cash outflows, to determine cash available for future subscriber acquisition and capital expenditures, to repurchase or retire debt, to acquire other companies and to evaluate our ability to return capital to stockholders.

We believe free cash flow is an indicator of the long-term financial stability of our business. Free cash flow, which is reconciled to "Net cash provided by operating activities," is a Non-GAAP financial measure. This measure can be calculated by deducting amounts under the captions "Additions to property and equipment" and deducting or adding Restricted and other investment activity from "Net cash provided by operating activities" from the consolidated statements of cash flows, adjusted for any significant legal settlements.

Free cash flow should be used in conjunction with other GAAP financial performance measures and may not be comparable to free cash flow measures presented by other companies. Free cash flow should be viewed as a supplemental measure rather than an alternative measure of cash flows from operating activities, as determined in accordance with GAAP. Free cash flow is limited and does not represent remaining cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt maturities.

We believe free cash flow provides useful supplemental information to investors regarding our current cash flow, along with other GAAP measures such as cash flows from operating and investing activities , to determine our financial condition, and to compare our operating performance to other communications, entertainment and media companies. Free cash flow is calculated as follows:.

Asset List

At the time satellite radio enabled vehicles are sold or leased, the owners or lessees generally receive trial subscriptions ranging from three to twelve months. We measure conversion rate three months after the period in which the trial service ends.

The metric excludes rental and fleet vehicles. SAC, per installation, is calculated as follows:. Sirius XM Holdings Inc. SIRI is the world's largest radio company measured by revenue and has more than SiriusXM creates and offers commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment, and a wide-range of Latin music, sports and talk programming.

SiriusXM is available in vehicles from every major car company and on smartphones and other connected devices as well as online at siriusxm. SiriusXM radios and accessories are available from retailers nationwide and online at SiriusXM. In addition, SiriusXM Music for Business provides commercial-free music to a variety of businesses. SiriusXM holds a minority interest in SiriusXM Canada which has approximately 2. SiriusXM is also a leading provider of connected vehicles services, giving customers access to a suite of safety, security, and convenience services including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation.

To download SiriusXM logos and artwork, visit http: This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning.

Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control.

Sirius XM Holdings Inc. - SiriusXM Adds A Further $2 Billion To Stock Repurchase Program

Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form K for the year ended December 31, , which is filed with the Securities and Exchange Commission the " SEC " and available at the SEC's Internet site http: The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

Hooper Stevens Hooper. Patrick Reilly patrick. To view the original version on PR Newswire, visit: I'm in a Trial Register to Listen Online Add Trial to My Account Transfer Subscription to My New Car Subscribe to Keep Listening. I can't hear all of the channels on my radio. Trial Subscription Help I Don't Know My Login to Listen Online Find out When My Trial Ends Subscribe to Keep Listening after My Trial Ends.

Add or Transfer Service Add a Vehicle to My Account Transfer a Subscription to a New Vehicle.

Find a Show or Channel Program Schedules Live Sports Schedules Channel Lineup By Package. In My Car Learn about My Trial Get a Free Trial. On the App or Online Sign Up to Listen Online Learn More about SiriusXM Streaming. Subscribe Now Compare Packages Turn My Radio Back On Keep Listening After My Trial Ends Listen Online and in the App Infotainment: Shop Radios Shop All Featured Radios Accessories Subscriber Exclusive Offers Product Support.

Help Getting Started Help with Activation Refresh My Radio Installation Help Product Support Radio User Guides Contact Us English Spanish. I'm a Subscriber Log In Not Registered? Register Now View My Bill Make a Payment Add another Radio Add Internet Radio I Have a Trial in My Vehicle Register to Listen Online Ready to Subscribe Transfer service to new vehicle I'm New Activate a New Radio English Spanish.

View all Press Releases. SiriusXM Reports Fourth Quarter and Full-Year Results. Revenue share and royalties , , 1,, 1,, Programming and content 96, 76, , , Customer service and billing , 99, , , Satellite and transmission 22, 28, , 94, Cost of equipment 11, 13, 40, 42, Subscriber acquisition costs , , , , Sales and marketing , 98, , , Engineering, design and development 24, 17, 82, 64, General and administrative 92, , , , Depreciation and amortization 66, 69, , , Total operating expenses , , 3,, 3,, Income from operations , , 1,, 1,, Other income expense: Depreciation and amortization , , Non-cash interest expense, net of amortization of premium 8, 7, Provision for doubtful accounts 55, 47, Amortization of deferred income related to equity method investment 2, 2, Loss on extinguishment of debt and credit facilities, net 24, — Gain on unconsolidated entity investments, net 12, — Dividend received from unconsolidated entity investment 7, 14, Loss on disposal of assets 12, 7, Loss on change in value of derivatives — — Share-based payment expense , 84, Deferred income taxes , , Other non-cash purchase price adjustments — 1, Changes in operating assets and liabilities: Receivables 44, 61, Inventory 1, 2, Related party, net 3, 14, Prepaid expenses and other current assets 7, 67, Other long-term assets 38, , Accounts payable and accrued expenses 78, 52, Accrued interest 22, 11, Deferred revenue 79, , Other long-term liabilities 2, 7, Net cash provided by operating activities 1,, 1,, Cash flows from investing activities: Additions to property and equipment , , Purchases of restricted and other investments 4, 3, Net cash used in investing activities , , Cash flows from financing activities: For the Three Months Ended December 31, For the Twelve Months Ended December 31, in thousands Net income: Purchase price accounting adjustments: I Have a Trial in My Vehicle Learn about My Trial Get My Username and Password to Listen Online My trial is ending.

Try SiriusXM for Free Shop for Subscriptions Radios Does My Car Already Have SiriusXM? Powered By Q4 Inc. Revenue share and royalties.

Customer service and billing. Engineering, design and development. Income before income taxes. Net income per common share: Weighted average common shares outstanding: Dividends declared per common share. As of December 31,. Cash and cash equivalents. Related party current assets. Prepaid expenses and other current assets. Property and equipment, net. Related party long-term assets. Accounts payable and accrued expenses. Current portion of deferred revenue. Current maturities of long-term debt.

Related party current liabilities. Related party long-term liabilities. Total stockholders' deficit equity. Cash flows from operating activities: Provision for doubtful accounts.

Gain on unconsolidated entity investments, net. Loss on disposal of assets.

Loss on change in value of derivatives. Other non-cash purchase price adjustments. Changes in operating assets and liabilities: Net cash provided by operating activities. Cash flows from investing activities: Additions to property and equipment. Purchases of restricted and other investments. Net cash used in investing activities. Cash flows from financing activities: Proceeds from exercise of stock options. Payment of premiums on redemption of debt.

Common stock repurchased and retired. Net cash used in financing activities. Cash and cash equivalents at end of period. Daily weighted average number of subscribers. Average self-pay monthly churn. New vehicle consumer conversion rate. Add back items excluded from Adjusted EBITDA: Sound recording legal settlements and reserves. Share-based payment expense 1. Total share-based payment expense.

Pre sound recordings legal settlement.