• Sirius XM Holdings average gross margin for 2023 was 53.24%, a 1.86% decline from 2022.
• Sirius XM Holdings average gross margin for 2022 was 54.25%, a 1.04% decline from 2021.
• Sirius XM Holdings average gross margin for 2021 was 54.82%, a 1.39% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.