Tue, May 14, 8:26 PM (73 days ago)
Boston Omaha Corporation's Q1 2024 report highlights a mixed financial performance. Revenues increased by 12% year-over-year to $25.6 million, driven by growth in billboard rentals, broadband services, and insurance premiums. However, total costs and expenses also rose to $27.6 million, resulting in a net loss from operations of $2.1 million, an improvement from the $3.0 million loss in Q1 2023. The company reported significant non-cash expenses, including $5.4 million in depreciation, amortization, and accretion. Other expenses included a $10.2 million loss from equity investments, primarily Sky Harbour, offset by $7.8 million in investment income. Net loss attributable to common stockholders was $2.8 million, or $0.09 per share, compared to $3.3 million, or $0.11 per share, in Q1 2023. Cash flow from operations improved to $2.4 million, and the company ended the quarter with $17 million in unrestricted cash and $14 million in short-term treasury securities.