Fri, Mar 28, 12:48 PM (30 days ago)
### Summary of Boston Omaha Corporation (BOC) **Financial Performance:** - **Revenue:** $108,274,901 in 2024, up 12.5% from $96,253,736 in 2023. - **Net Loss:** $8,467,478 in 2024, down from $8,852,403 in 2023. - **Earnings per Share:** Loss of $0.04 in 2024, compared to a loss of $0.23 in 2023. **Revenue Breakdown:** - **Billboard Rentals:** $45,153,076 (41.7% of total revenue). - **Broadband Services:** $39,098,228 (36.1% of total revenue). - **Premiums Earned:** $19,759,540 (18.2% of total revenue). - **Insurance Commissions:** $1,962,692 (1.8% of total revenue). - **Investment and Other Income:** $2,301,365 (2.2% of total revenue). **Expenses:** - **Cost of Billboard Revenues:** $15,496,805. - **Cost of Broadband Revenues:** $9,444,030. - **Cost of Insurance Revenues:** $9,400,691. - **Employee Costs:** $38,146,193. - **Professional Fees:** $4,898,144. - **General and Administrative:** $16,237,654. - **Depreciation:** $14,495,747. - **Amortization:** $7,683,952. - **Accretion:** $218,472. - **Loss on Disposition of Assets:** $720,691. **Market Position Changes:** - **Billboard Operations:** Increased net billboard revenues by 5.2% in 2024. - **Broadband Operations:** Increased revenue by 10.6% in 2024. - **Insurance Operations:** Increased premiums earned by 41.8% in 2024. **Strategic Overview:** - **Acquisitions:** Continued strategic acquisitions in outdoor billboard advertising, broadband services, surety insurance, and asset management. - **Investments:** Significant investments in Sky Harbour Group Corporation and other minority investments. - **Future Outlook:** Plans to expand broadband services in Arizona, Florida, Nevada, Utah, and other locales. **Risk Factors:** - **Operational Risks:** Including dependence on key personnel and integration challenges from acquisitions. - **Financial Risks:** Including leverage and debt obligations, and the risk of being deemed an investment company. - **Market Risks:** Including competition and regulatory challenges. **Financial Condition:** - **Cash and Short-Term Investments:** $28.3 million in unrestricted cash and $11 million in short-term treasury securities as of December 31, 2024. - **Debt:** Long-term debt includes $3,400,000 under BOB's credit facility and $36,123,138 under Link's credit facility. **Future Outlook:** - **Growth Strategy:** Focus on expanding broadband services and continuing acquisitions in outdoor billboard advertising and surety insurance. - **Capital Allocation:** Plans to use leverage and debt financing to support growth and acquisitions. **Note:** The amounts are in thousands of dollars.