SIRI — what changed in the latest 10-Q
A section-by-section comparison of SIRI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-29 vs the prior 10-Q · 2026-07-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +15 | −15 | ~60 | 130 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Risk factors | Some risk factors updated | +1 | −4 | 0 | 0 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-29
For the three months ended September 30, 2026 and 2025, advertising revenue was $37 and $39, respectively, a decrease of 5%, or $2. For the nine months ended September 30, 2026 and 2025, advertising revenue was $113 and $116, respectively, a decrease of 3%, or $3. The decreases were primarily due to…
For the three months ended September 30, 2026 and 2025, other revenue was $31 and $32, respectively, a decrease of 3%, or $1. For each of the nine months ended September 30, 2026 and 2025, other revenue was $94.
We anticipate Pandora and Off-platform subscriber revenues to grow with higher pricing offsetting declines in the number of average subscribers.
We expect Pandora and Off-platform customer service and billing to increase due to higher subscription revenue.
For the three months ended September 30, 2026 and 2025, sales and marketing expenses were $179 and $186, respectively, a decrease of 4%, or $7, and decreased as a percentage of total revenue. For the nine months ended September 30, 2026 and 2025, sales and marketing expenses were $554 and $561, resp…
Text removed vs the prior filing · source: 10-Q · 2026-07-30
For the three months ended June 30, 2026 and 2025, advertising revenue was $41 and $38, respectively, an increase of 8%, or $3. For the six months ended June 30, 2026 and 2025, advertising revenue was $76 and $77, respectively, a decrease of 1%, or $1. The increase for the three month period was dri…
For the three months ended June 30, 2026 and 2025, other revenue was $32 and $31, respectively, an increase of 3%, or $1. For the six months ended June 30, 2026 and 2025, other revenue was $63 and $62, respectively, an increase of 2%, or $1. The increases were driven by higher service fee revenue fr…
We expect Pandora and Off-platform subscriber revenue to remain relatively flat.
We expect Pandora and Off-platform customer service and billing to remain relatively flat as a percentage of Pandora and Off-platform subscriber revenues.
For the three months ended June 30, 2026 and 2025, sales and marketing expenses were $188 and $185, respectively, an increase of 2%, or $3, and increased as a percentage of total revenue. For each of the six months ended June 30, 2026 and 2025, sales and marketing expenses were $375 and decreased as…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-10-29
There have been no other material changes in the risk factors previously disclosed in response to Part I, “Item 1A. Risk Factors,” of our Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the Securities and Exchange Commission on February 5, 2026, other than as up…
Text removed vs the prior filing · source: 10-Q · 2026-07-30
The following risk factor supplements the Risk Factors previously disclosed in response to Part I, “Item 1A. Risk
Factors,” of our Annual Report on Form 10-K for the year ended December 31, 2025 which was filed with the Securities and
Increases in the cost of memory used in our satellite radio modules and other components included in our satellite radios could reduce equipment revenue and adversely affect our business.
We have experienced, and may continue to experience, increased costs for memory used in our satellite radio modules that are essential components of our satellite radios. These costs have adversely affected, and may continue to adversely affect, our equipment revenue. The memory and other components…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice