On Thursday, SiriusXM reported Q4 2016 revenue and revenue for the full year. Q4 revenue was a record $1.3 billion, up 9% over 2015, and for the full year revenue was $5.0 billion, up 10% over 2015.
CEO Jim Meyer said, “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’ve issued guidance for continued growth in 2017, and we expect a record adjusted EBITDA of more than $2 billion.”
The company added over 1.75 million net new subscribers during 2016 to end the year with approximately 31.3 million subscribers. Self-pay net additions were 1.66 million during the year, resulting in self-pay subscribers of nearly 26 million at December 31, 2016. Free cash flow and operating cash flow in the fourth quarter grew 44% and 47%, respectively, to $429 million and $503 million. Full-year 2016 free cash flow and operating cash flow grew 15% and 38%, respectively, to $1.51 billion and $1.72 billion. “Last year was a phenomenal year for SiriusXM’s business, and we expect continued success in 2017.”
SiriusXM’s guidance for 2017 is: self-pay net subscriber additions of approximately 1.3 million, revenue of approximately $5.3 billion, adjusted EBITDA of approximately $2.025 billion, and free cash flow of approximately $1.5 billion.
