XM Radio 2009 Annual Report Download - page 149
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(16) ARPU is calculated as follows (in thousands, except for subscriber and per subscriber amounts):
2009 2008 2007
For the Three Months Ended December 31,
Unaudited Actual
Subscriber revenue ............................ $ 588,048 $ 568,523 $ 227,658
Net advertising revenue ........................ 14,467 15,776 9,770
Total subscriber and net advertising revenue ....... $ 602,515 $ 584,299 $ 237,428
Daily weighted average number of subscribers ....... 18,576,151 18,910,689 7,878,574
ARPU ..................................... $ 10.81 $ 10.30 $ 10.05
(17) SAC, as adjusted, per gross subscriber addition is calculated as follows (in thousands, except for subscriber
and per subscriber amounts):
2009 2008 2007
For the Three Months Ended December 31,
Unaudited Actual
Subscriber acquisition cost ........................ $ 109,733 $ 113,512 $ 100,062
Less: share-based payment expense granted to third
parties and employees ......................... — — (156)
(Less) Add: margin from direct sales of radios and
accessories .................................. (6,808) (12,628) 3,821
SAC, as adjusted ............................... $ 102,925 $ 100,884 $ 103,727
Gross subscriber additions ........................ 1,882,950 1,713,210 1,194,014
SAC, as adjusted, per gross subscriber addition ......... $ 55 $ 59 $ 87
(18) Customer service and billing expenses, as adjusted, per average subscriber is calculated as follows (in
thousands, except for subscriber and per subscriber amounts):
2009 2008 2007
For the Three Months Ended December 31,
Unaudited Actual
Customer service and billing expenses ............. $ 58,887 $ 67,818 $ 29,288
Less: share-based payment expense ................ — (783) (165)
Customer service and billing expenses, as adjusted .... $ 58,887 $ 67,035 $ 29,123
Daily weighted average number of subscribers ....... 18,576,151 18,910,689 7,878,574
Customer service and billing expenses, as adjusted, per
average subscriber .......................... $ 1.06 $ 1.18 $ 1.23
(19) Free cash flow is calculated as follows (in thousands):
2009 2008 2007
For the Three Months Ended
December 31,
Unaudited Actual
Net cash provided by operating activities................... $180,723 $ 64,195 $89,818
Additions to property and equipment ...................... (31,176) (27,846) (7,377)
Merger related costs .................................. — (10,472) (6,680)
Restricted and other investment activity.................... — — 160
Free cash flow ...................................... $149,547 $ 25,877 $75,921
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