Boston Omaha Corporation Announces First Quarter 2025 Financial Results
MWN-AI** Summary
Boston Omaha Corporation (NYSE: BOC) recently disclosed its financial results for the first quarter of 2025, showcasing steady growth across its varied business segments in its Quarterly Report on Form 10-Q. For the period ending March 31, 2025, the company reported total revenues of approximately $27.73 million, representing an increase from $25.55 million in Q1 2024. This growth was driven by improved performance in key areas including billboard rentals, broadband services, and insurance premiums.
Billboard rentals generated nearly $10.76 million, a slight increase from $10.70 million year-over-year, while broadband services rose to $10.32 million, up from $9.68 million. Insurance premiums saw a significant jump to $5.56 million compared to $4.00 million in the previous year. Despite positive top-line results, the company reported a net loss attributable to common stockholders of $669,285, an improvement from the $2.81 million loss incurred in Q1 2024.
The first quarter continued to reflect positive cash flow, with operations yielding a cash inflow of $2.6 million, slightly up from $2.4 million a year prior. The company’s total unrestricted cash and investments reached approximately $44.19 million by the end of the quarter, showing growth from $41.66 million at the end of 2024. However, significant non-cash losses from unconsolidated affiliates were noted, particularly regarding their stake in Sky Harbour Group Corporation, impacting overall expenses.
Boston Omaha's stockholders' equity stood at $533.29 million, and the book value per share was recorded at $16.95. As a multi-faceted public holding company, Boston Omaha is actively engaged in outdoor advertising, broadband telecommunications, surety insurance, and asset management.
MWN-AI** Analysis
Boston Omaha Corporation's recent Q1 2025 financial results present a mixed bag of positive trends shadowed by ongoing challenges. The company reported total revenues of $27.73 million, a notable increase from $25.55 million in Q1 2024, largely driven by growth in its broadband services and insurance premiums. The billboard rentals segment continued to show slight growth as well, indicative of its stable revenue stream.
However, despite the revenue increase, Boston Omaha recorded a net loss attributable to common stockholders of approximately $669,285, down from a loss of $2.81 million in the same quarter last year. This reduction in loss is a promising sign, potentially indicating improved operational efficiency. Furthermore, the cash inflow from operations remained strong at $2.6 million compared to $2.4 million in Q1 2024, suggesting resilience in its core operations.
The company's investment in Sky Harbour appears both a strength and a potential risk. While their equity method stake is valued at $92.2 million, if marked to fair value, it could sit significantly higher at $182.2 million, hinting at untapped value. Investors should monitor the volatility within this investment, especially amid ongoing uncertainties impacting the market.
Given the overall performance, investors could view Boston Omaha as a company with potential upward momentum, but caution is warranted. The company still operates in competitive environments, and its history of losses emphasizes the need for sustained positive performance. Analysts should consider the long-term strategy and market conditions when evaluating the stock's attractiveness. A diversified approach may be prudent, balancing potential growth exposure with protections against market risks. Investors are encouraged to stay updated through the company’s investor relations for future developments.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Boston Omaha Corporation (NYSE: BOC) (the “Company”, “we”, or “our”) announced its financial results for the first quarter ended March 31, 2025, in connection with filing its Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
We show summary financial data below for the first quarter of 2025 and 2024. Our Quarterly Report on Form 10-Q can be found at www.bostonomaha.com . A supplemental presentation providing additional financial information for the first quarter of 2025 can be found on our investor relations website at https://investor.bostonomaha.com . We believe that it’s important for shareholders to read the supplemental presentation as, in management’s opinion, it provides additional information on business metrics we use in gauging the performance of each of our three principal business units and investments.
| For the Three Months Ended | ||||||||
| March 31, | ||||||||
2025 | 2024 | |||||||
| Billboard Rentals, Net | $ | 10,764,475 | $ | 10,696,660 | ||||
| Broadband Services | 10,320,130 | 9,683,429 | ||||||
| Premiums Earned | 5,563,773 | 4,003,059 | ||||||
| Insurance Commissions | 579,293 | 502,688 | ||||||
| Investment and Other Income | 502,823 | 666,895 | ||||||
| Total Revenues | 27,730,494 | 25,552,731 | ||||||
| Depreciation and Amortization Expense | 5,938,007 | 5,338,127 | ||||||
| Net Loss from Operations | (797,403 | ) | (2,058,281 | ) | ||||
| Net Other Expense | (1,817,197 | ) | (2,125,963 | ) | ||||
| Net Loss Attributable to Common Stockholders | $ | (669,285 | ) | $ | (2,808,081 | ) | ||
| Basic and Diluted Net Loss per Share | $ | (0.02 | ) | $ | (0.09 | ) | ||
| March 31, | December 31, | |||||||
2025 | 2024 | |||||||
| Total Unrestricted Cash & Investments (1) | $ | 44,193,606 | $ | 41,659,941 | ||||
| Total Assets | 730,840,415 | 728,345,729 | ||||||
| Total Liabilities | 171,078,674 | 165,626,276 | ||||||
| Total Boston Omaha Stockholders' Equity | 533,290,063 | 532,819,509 | ||||||
| Noncontrolling Interests (2) | 26,471,678 | 29,899,944 | ||||||
| Total Equity | $ | 559,761,741 | $ | 562,719,453 |
(1) | Investments consist of U.S. Treasury securities classified as trading securities and marketable equity securities, of which $2,675,980 is held by our insurance entities at March 31, 2025. Marketable equity securities excludes Sky Harbour Group Corporation (“Sky Harbour”) Class A common stock as we account for our 16.1% stake (as measured at March 31, 2025) under the equity method. | |
(2) | Noncontrolling interests are primarily related to third party capital raised within our Build for Rent Fund as well as within our 24 th Street commercial real estate funds. |
During the first quarter of fiscal 2025, “Net Other Expense” included non-cash losses of $2.3 million from unconsolidated affiliates mainly related to our equity method position in Sky Harbour and $0.5 million in interest expense. These items were partially offset by $0.7 million in other investment income mainly driven by $1.3 million in realized gains on the sale of 220,889 shares of Sky Harbour Class A common stock and a $1.2 million unrealized gain on the Sky Harbour warrants held by Boston Omaha, which was partially offset by other investment losses of $2.0 million within BOAM primarily related to the changes in the fair value of the remaining assets within the 24th Street Funds and BFR Fund, and interest and dividend income of $0.3 million.
Our investment in Sky Harbour Class A common stock and warrants was valued at $92.2 million on our consolidated balance sheet as of March 31, 2025. If our investment in Sky Harbour Class A common stock was accounted for at fair value based on its quoted market price (currently valued using equity method accounting), then our total investment in Sky Harbour Class A common stock and warrants would be valued at $182.2 million as of March 31, 2025.
Cash inflow from operations for the three months ended March 31, 2025 was $2.6 million, compared to a cash inflow of $2.4 million for the three months ended March 31, 2024.
Our book value per share was $16.95 at March 31, 2025, compared to $16.99 at December 31, 2024.
As of March 31, 2025, we had 30,872,876 shares of Class A common stock and 580,558 shares of Class B common stock outstanding.
As of May 13, 2025, we had 30,872,876 shares of Class A common stock and 580,558 shares of Class B common stock outstanding.
About Boston Omaha Corporation
Boston Omaha Corporation is a public holding company with four majority owned businesses engaged in outdoor advertising, broadband telecommunications services, surety insurance, and asset management.
Forward-Looking Statements
Any statements in this press release about the Company’s future expectations, plans and prospects, including statements about our financing strategy, future operations, future financial position and results, market growth, total revenue, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the Company’s forward-looking statements, and you should not place undue reliance on the Company’s forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company makes as a result of a variety of risks and uncertainties, including risks related to the Company’s estimates regarding the potential market opportunity for the Company’s current and future products and services, the competitive nature of the industries in which we conduct our business, general business and economic conditions, our ability to acquire suitable businesses, our ability to successfully integrate acquired businesses, the effect of a loss of, or financial distress of, any reinsurance company which reinsures the Company’s insurance operations, the risks associated with our investments in both publicly traded securities and privately held businesses, our history of losses and ability to maintain profitability in the future, the Company’s expectations regarding the Company’s sales, expenses, gross margins and other results of operations, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s public filings with the Securities and Exchange Commission (the “SEC”) on Form 10-K for the year ended December 31, 2024, as well as other risks and uncertainties which may be described in any subsequent quarterly report on Form 10-Q filed by the Company, and the other reports the Company files with the SEC. Copies of our SEC filings are available on our website at www.bostonomaha.com . In addition, the forward-looking statements included in this press release represent the Company’s views as of the date hereof. The Company anticipates that general economic conditions and subsequent events and developments may cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.
Our investor relations website, https://investor.bostonomaha.com , serves as a comprehensive resource for investors. We strongly encourage its use for easy access to information about the Company. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information, and select press releases, which may contain material information about us, and you may subscribe to be notified of new information posted to this site.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250514022221/en/
Boston Omaha Corporation
Josh Weisenburger, 402-210-2633
contact@bostonomaha.com
FAQ**
How did Boston Omaha Corporation Class A BOC perform in terms of revenue growth across its principal business units compared to the previous year, particularly in Billboard Rentals and Broadband Services?
What specific factors contributed to the decrease in net loss attributable to common stockholders for Boston Omaha Corporation Class A BOC in the first quarter of 20compared to the same period in 2024?
Can management elaborate on the implications of the non-cash losses from unconsolidated affiliates on Boston Omaha Corporation Class A BOC's overall financial performance in Q1 2025?
Given the changes in fair value affecting Boston Omaha Corporation Class A BOC's assets, how does the company plan to address potential risks related to its investments, specifically in Sky Harbour?
**MWN-AI FAQ is based on asking OpenAI questions about Boston Omaha Corporation Class A (NYSE: BOC).
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