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 · 2026-07-30 vs the prior 10-Q · 2026-04-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +46 | −39 | ~42 | 117 |
| 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 | +2 | 0 | ~1 | 1 |
| 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 · 2026-07-30
•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; and
The primary source of revenue from the SiriusXM business is subscription fees, with most of its customers subscribing to monthly or annual plans. Additional revenue streams include advertising on select music and non-music channels in certain packages, direct sales of radios and accessories, and oth…
For the Three Months Ended June 30,For the Six Months Ended June 30,2026 vs 2025 Change
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…
We expect our SiriusXM advertising revenue to grow as we continue to leverage co-selling initiatives across our brands and platforms.
Text removed vs the prior filing · source: 10-Q · 2026-04-30
The SiriusXM service is also available through an in-car user interface called “360L” that combines SiriusXM’s satellite and streaming services into a single, cohesive in-vehicle entertainment experience.SiriusXM holds a 70% equity interest and 33% voting interest in Sirius XM Canada Holdings Inc. (…
The primary source of revenue from the SiriusXM business is subscription fees, with most of its customers subscribing to monthly or annual plans. Additional revenue streams include advertising on select music and non-music channels in certain packages, direct sales of radios and accessories, and oth…
Total Pandora and Off-platform cost of services363 350 13 4 %
For the three months ended March 31, 2026 and 2025, advertising revenue was $35 and $39, respectively, a decrease of 10%, or $4. The decrease was primarily due to lower advertising demand for news channels.
We expect our SiriusXM advertising revenue to remain relatively flat.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-07-30
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