XM Radio 2014 Annual Report Download - page 4
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We Are Building On Our Momentum in 2015
Looking ahead, we expect to achieve further growth and success by continuing to leverage our
competitive strengths. In 2015, we expect revenue to be approximately $4.4 billion, with adjusted
EBITDA of approximately $1.6 billion and free cash flow of approximately $1.25 billion. These
figures represent strong across-the-board growth in revenue, adjusted EBITDA, and free cash flow.
Free cash flow per share is expected to grow even faster as we continue to retire shares via our
share repurchase program.
We have an outstanding team of dedicated SiriusXM employees who have helped us achieve
these record results, and their innovation and dedication have enabled us to continue to deliver the
best service, build our subscriber base and drive a strong financial performance to create value for
our stockholders. We are very appreciative of their continued hard work.
As we continue to execute on our growth plans and position SiriusXM for sustained long-term
success, we want to thank our tens of millions of subscribers, and we look forward to bringing
SiriusXM to more customers than ever before. As we start 2015, we are excited to continue to
provide the best radio on radio and further enhance value for our stockholders.
Thank you for your investment in SiriusXM.
Sincerely,
Jim Meyer
Chief Executive Officer
SiriusXM