XMSR Earnings Report Q1 2004

Peter Parker

Formerly Geronimo
Original poster
Supporting Founder
Lifetime Supporter
Sep 9, 2003
XM Grows 1Q Revenue

XM announced d first quarter revenue of $43 million, up from $13.1 million reported in first quarter 2003 and 30 percent from fourth quarter 2003 revenue of $33.5 million. Fixed expenses were $37.1 million for the three-month period, which XM said marks the first time quarterly revenues exceeded fixed expenses.

Cost Per Gross Addition or CPGA was cut by about $50 to reach a level of $106. This is a measure of total acqusition costs and includes more costs than the SAC figure used in the satellite TV industry.

Despite the good news EBITDA losses went to $78 million for the quarter up from 63.3 million the year and the net loss rose from $126.3 million to $170.1 million.

XM added 321,675 net new subs for the quarter up from 135,916 a year ago.

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