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BOSTON OMAHA Corp
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
65.8%Gross margin2
-3.4%Operating margin2
-10.9%Net margin2
5.6%Revenue growth, 20252
-2.4%Return on equity2
0.09×Debt to equity2
-$10.0MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Billboard Rentals brought in 53% of the revenue BOSTON OMAHA Corp broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Billboard Rentals | $45.2M | $45.9M |
| Broadband Services | $39.1M | $41.2M |
Business segments
LMH brought in 40% of the revenue BOSTON OMAHA Corp broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| LMH | $45.2M | $45.9M |
| BOB | $39.1M | $41.2M |
| GIG | $23.9M | $27.2M |
| BOAM | $172.1K | $93.9K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue34¢$39.1M
- Other costs66¢$75.2M
- Income tax0¢$79.3K
Out of $114.4M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending100¢$27.9M
Out of $17.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Premiums earned | $23.2M | $19.8M |
| Insurance commissions | $2.1M | $2.0M |
| Investment and other income | $2.1M | $2.3M |
| Total Revenues | $114.4M | $108.3M |
| Employee costs | $34.3M | $38.1M |
| Professional fees | $4.1M | $4.9M |
| General and administrative | $15.9M | $16.2M |
| Amortization | $7.8M | $7.7M |
| Depreciation | $17.0M | $14.5M |
| (Gain) loss on disposition of assets | -$35.8K | $720.7K |
| Accretion | $217.9K | $218.5K |
| Total Costs and Expenses | $118.3M | $116.7M |
| Segment (Loss) Income from Operations | -$3.9M | -$8.5M |
| Interest and dividend income | $1.2M | $1.4M |
| Equity in income of unconsolidated affiliates | $6.5M | -$17.3M |
| Other investment income (loss) | -$19.9M | $29.1M |
| Interest expense | -$2.3M | -$1.6M |
| Total | -$18.4M | $3.1M |
| Income tax benefit | $79.3K | $274.8K |
| Net (Loss) Income | -$18.3M | $3.4M |
| Noncontrolling interest in subsidiary (income) loss | $5.9M | -$4.7M |
| Net Income (Loss) Attributable to Common Stockholders | -$12.4M | -$1.3M |
| Basic Net Loss per Share (in dollars per share) | -$0.40 | -$0.04 |
| Diluted Net Loss per Share (in dollars per share) | -$0.40 | -$0.04 |
| Basic Weighted Average Class A and Class B Common Shares Outstanding (in shares) | 31.4M shares | 31.5M shares |
| Diluted Weighted Average Class A and Class B Common Shares Outstanding (in shares) | 31.4M shares | 31.5M shares |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $28.6M | $28.3M | |
| Cash held by BOAM funds and other | $4.2M | $2.9M | |
| Accounts receivable, net | $16.0M | $12.4M | |
| Short-term investments | $28.2M | $45.0M | |
| Marketable equity securities | $868.0K | $2.4M | |
| U. S. Treasury securities | $20.7M | $11.0M | |
| Funds held as collateral assets | $13.9M | $10.0M | |
| Prepaid expense and other current assets | $6.5M | $5.5M | |
| Total Current Assets | $118.9M | $117.4M | |
| Property and Equipment, net | $172.6M | $161.6M | |
| Goodwill | $182.4M | $182.4M | |
| Intangible assets, net | $51.4M | $58.3M | |
| Investments | $51.4M | $74.1M | |
| Investments in unconsolidated affiliates | $74.8M | $72.4M | $94.2M |
| Deferred policy acquisition costs | $2.9M | $2.2M | |
| Right of use assets | $58.4M | $59.7M | |
| Other | $172.1K | $171.8K | |
| Total Other Assets | $421.5M | $449.3M | |
| Total Assets | $713.1M | $728.3M | |
| Accounts payable and accrued expenses | $14.0M | $16.4M | |
| Short-term payables for business acquisitions | $1.4M | $121.1K | |
| Lease liabilities | $5.3M | $5.3M | |
| Funds held as collateral | $13.9M | $10.0M | |
| Unpaid losses and loss adjustment expenses | $6.5M | $5.9M | |
| Unearned premiums | $13.6M | $13.0M | |
| Current maturities of long-term debt | $2.4M | $1.2M | |
| Deferred revenue | $3.2M | $3.0M | |
| Total Current Liabilities | $60.2M | $54.9M | |
| Asset retirement obligations | $4.2M | $4.0M | |
| Lease liabilities | $54.4M | $55.0M | |
| Long-term debt, less current maturities | $46.4M | $38.4M | |
| Other long-term liabilities | $88.3K | $1.4M | |
| Deferred tax liability | $11.7M | $11.9M | |
| Total Liabilities | $177.0M | $165.6M | |
| Preferred stock, $.001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding | $0 | $0 | |
| Additional paid-in capital | $540.7M | $539.1M | |
| Treasury stock, at cost, 561,868 and 111,323 shares, respectively | -$7.4M | -$1.6M | |
| Accumulated deficit | -$17.2M | -$4.7M | |
| Total Boston Omaha Stockholders' Equity | $516.1M | $532.8M | |
| Noncontrolling interests | $19.9M | $29.9M | |
| Total Equity | $536.1M | $562.7M | $600.8M |
| Total Liabilities and Stockholders' Equity | $713.1M | $728.3M | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 1.0M shares | 1.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Treasury stock, shares (in shares) | 561.9K shares | 111.3K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net (Loss) Income | -$18.3M | $3.4M |
| Amortization of right of use assets | $5.7M | $5.5M |
| Depreciation, amortization, and accretion | $25.0M | $22.4M |
| Income taxes | -$136.7K | -$290.4K |
| (Gain) loss on disposition of assets | -$35.8K | $720.7K |
| Bad debt expense | $385.1K | $318.5K |
| Equity in (income) loss of unconsolidated affiliates | -$6.5M | $17.3M |
| Amortization of bond premium | -$1.3M | -$1.3M |
| Other investment loss (income) | $19.9M | -$29.1M |
| Compensation paid in stock | $1.1M | $917.8K |
| Other | $60.0K | $0 |
| Accounts receivable | $431.4K | -$610.9K |
| Interest receivable | $27.2K | $101.9K |
| Prepaid expenses | -$1.0M | $162.2K |
| Deferred policy acquisition costs | -$782.9K | -$389.3K |
| Other assets | -$281 | -$52.7K |
| Other liabilities, exclusive of debt | -$74.7K | -$83.8K |
| Accounts payable, accrued expenses, unpaid losses and loss adjustments, and other | -$1.8M | $3.9M |
| Lease liabilities | -$5.4M | -$5.4M |
| Unearned premiums | $590.5K | $3.3M |
| Deferred revenue | $134.0K | $415.9K |
| Net Cash Provided by Operating Activities | $17.9M | $21.2M |
| Payments on short-term payables for business acquisitions | -$14.5K | -$496.9K |
| Investment in unconsolidated affiliates | $0 | -$21.0K |
| Capital expenditures | -$27.9M | -$32.2M |
| Proceeds from sales of investments | $287.8M | $355.1M |
| Purchase of investments | -$273.4M | -$294.3M |
| Net Cash (Used in) Provided by Investing Activities | -$13.5M | $28.1M |
| Proceeds from issuance of stock | $525.3K | $0 |
| Proceeds from borrowings | $11.5M | $13.5M |
| Stock repurchased | -$5.8M | -$18.4M |
| Contributions from noncontrolling interests | $378.3K | $206.1K |
| Distributions to noncontrolling interests | -$7.1M | -$37.5M |
| Repayments on borrowings | -$2.3M | -$1.3M |
| Collateral receipt (release), net | $3.9M | -$4.1M |
| Offering costs | -$3.3K | $0 |
| Net Cash Provided by (Used in) Financing Activities | $1.2M | -$47.6M |
| Net (Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash | $5.5M | $1.8M |
| Interest Paid in Cash | $2.3M | $1.5M |
| Distribution receivable from real estate fund | $4.4M | $0 |
| Stock issued as consideration for redeemable noncontrolling interest | $0 | $13.4M |
| Investment transferred as compensation for stock repurchased | $0 | $1.5M |
Former names
- REO PLUS, INC.Oct 20, 2010 to Feb 19, 20153
Recent filings
- Sep 16, 20264
- Sep 16, 20264
- Sep 16, 20264
- Sep 16, 20264
- Sep 16, 20264
- Sep 16, 20264
- Sep 15, 2026SCHEDULE 13D/A
- Sep 14, 2026144
- Sep 11, 20268-K
- Aug 24, 20268-K
- Aug 21, 20268-K
- Aug 13, 202610-Q
- Aug 13, 20268-K
- Jul 14, 2026SCHEDULE 13G/A
- Jul 1, 2026DEF 14A
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
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