Boston Omaha Corporation Reports Q2 2026 Revenue Growth to $22.2 Million Despite Net Loss

Boston Omaha Corporation reported its financial results for the second quarter and first half of fiscal 2026, revealing a total revenue of $22.2 million for the quarter, a 2.4% increase from $21.7 million in the same period last year. For the first six months, revenues reached $43.9 million, up 2.7% from $42.8 million in the prior year. The growth in revenue was primarily driven by a 2.5% increase in billboard rentals and a 2.4% rise in broadband services, reflecting stable rental rates and subscriber growth across various markets.

Despite the revenue increase, the company reported a net loss attributable to common stockholders of $1.6 million, or $0.05 per share, for the second quarter, compared to a loss of $2.3 million, or $0.07 per share, in the same quarter of 2025. For the first half of 2026, the net loss was $3.8 million, compared to a loss of $3.0 million in the first half of 2025. The increase in losses was attributed to higher professional fees related to the pending sale of its insurance subsidiary, General Indemnity Group (GIG), which is expected to close in the second half of 2026 for approximately $84.3 million.

Operationally, Boston Omaha's billboard segment generated $11.7 million in revenue for the second quarter, while broadband services contributed $10.5 million. The company reported a total of approximately 3,900 billboards and 50,200 broadband customers as of June 30, 2026. The broadband segment's costs increased as a percentage of revenue due to rising network operations and data costs, while billboard costs decreased as a percentage of revenue, reflecting improved operational efficiency.

In terms of strategic developments, Boston Omaha is in the process of selling its insurance subsidiary, GIG, to CopperPoint Insurance Company, which will significantly impact its financial structure. The company has also been actively repurchasing its Class A common stock, with approximately $10.6 million spent on buybacks in the first half of 2026. Looking ahead, Boston Omaha aims to continue expanding its billboard and broadband operations while managing costs effectively, with a focus on maintaining compliance with financial covenants associated with its credit facilities. The company holds approximately $15.1 million in cash and $16.4 million in short-term U.S. Treasury securities, positioning it to meet its working capital needs and potential future investments.