XM Satellite Radio said that it had slightly more than 9 million subscribers at the end of last year, adding 1.4 million new subscribers over the course of the year. The growth rate is behind Sirius, which claims to have added about 2.3 million new subscribers for a total of 8.3 million in the same time frame.
XM’s revenue climbed to $1.1 billion, up 22% from 2006. The net loss came in at $682 million. Sirius saw its 2007 revenue climbing by 45% to $922 million; the company reported a net loss of $565 million for the year. Given the speed the two companies – which are still in merger discussions – are burning through their cash reserves, we may see alternative financing announced in 2008: As of December 31, 2007, XM had cash and cash equivalents of about $157 million, Sirius reported about $439 million.