Boston Omaha
Owns billboard, broadband, and surety platforms with minority investments.
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Profile
Runs controlled billboard, broadband, and surety businesses, with asset management being wound down and minority holdings alongside them. Revenue is concentrated in US billboard rentals and broadband services, while operations depend on local advertising demand, fiber expansion economics, surety underwriting, and Magnolia-linked voting control.
Built under present management since 2015, the company operates a collection of controlled US platforms rather than one product line. Link Media rents outdoor billboard advertising space, Boston Omaha Broadband provides high-speed internet through regional brands, and General Indemnity Group writes and brokers surety coverage.
Billboard rentals and broadband services are the main revenue engines, with surety premiums and commissions adding a smaller insurance line. Asset management is being wound down, while minority investments remain part of the capital-allocation model.
Execution centers on acquiring and expanding niche operating businesses. The structure depends on local ad demand, broadband buildout economics, insurance licensing and underwriting discipline, and concentrated voting influence tied to Magnolia.
Company facts
Key statistics
Year to date +10.1% · Average volume (30d) 113.4K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Sep 19, 2024 | Wells Fargo | Downgrade | Overweight | Equal Weight |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | −$0.03 | −$0.05 | −66.7% | $29.5M | $22.2M | −24.7% | −2.24% |
| May 12, 2026Q1 FY26 | −$0.03 | −$0.07 | −133.3% | $29.2M | $28.2M | −3.3% | −0.88% |
| Mar 30, 2026Q4 FY25 | −$0.03 | −$0.22 | −633.3% | $29.0M | $29.7M | +2.5% | −2.10% |
| Nov 13, 2025Q3 FY25 | −$0.03 | −$0.08 | −166.7% | $29.0M | $28.7M | −0.9% | −6.57% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $27.7M | $28.2M | $28.7M | $29.7M | $28.2M | $22.2M | |
| Gross profit | $18.6M | $18.6M | $25.0M | $19.0M | $24.8M | $16.0M | |
| Operating income | −$797.4K | −$820.5K | −$1.1M | −$1.3M | −$2.2M | −$603.0K | |
| Net income | −$669.3K | −$2.3M | −$2.6M | −$6.9M | −$2.1M | −$1.6M | |
| Diluted EPS | −$0.02 | −$0.07 | −$0.08 | −$0.22 | −$0.07 | −$0.05 | |
| Gross margin | 67.3% | 66.1% | 86.8% | 64.0% | 87.6% | 72.1% | |
| Operating margin | -2.9% | -2.9% | -3.7% | -4.4% | -7.8% | -2.7% |
Fiscal years (4-quarter sums)FY21 $57.0M · FY22 $81.2M · FY23 $96.3M · FY24 $108.3M · FY25 $114.4M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $35.3M · Total debt $101.5M · Total assets $683.1M · Shareholders' equity $501.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 30.21M · Float 28.25M · 93.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Magnolia Group, LLC | 5.59M | 18.50% | 13F | Aug 12, 2026 |
| Massachusetts Institute of Technology | 2.44M | 8.09% | 13F | Aug 11, 2026 |
| BlackRock, Inc. | 1.79M | 5.92% | 13F | Aug 7, 2026 |
| 238 Plan Associates LLC | 1.60M | 5.20% | 13G | Jan 20, 2026 |
| Elgethun Capital Management | 1.46M | 4.84% | 13F | Jul 29, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 28, 2026 | Frank H. II Kenan | director | +34,719 | $13.37 |
| May 29, 2026 | Frank H. II Kenan | director | +10,000 | $12.93 |
| Jun 1, 2026 | Frank H. II Kenan | director | +6,033 | $12.89 |
| May 22, 2026 | Jeffrey C. Royal | director | +10,000 | $12.40 |
| May 26, 2026 | Jeffrey C. Royal | director | +11,046 | $12.82 |
Peers
- Lamar Advertising
Largest pure-play rival for roadside billboard rentals
- Cable One
Regional broadband peer in Arizona and other non-metro markets
- Lumen Technologies
Incumbent fiber and broadband pressure in Utah population centers
- Travelers
Large surety writer for contract and commercial bond accounts
- OUTFRONT Media
U.S. OOH REIT competing for billboard and transit ad budgets
- Old Republic International
Public surety specialist through Old Republic Surety
- Clear Channel Outdoor
Scaled U.S. roadside and airport OOH network
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Boston Omaha | $13.85 | 0.00% | $418.5M | — | — | 3.8 | −21.3% |
| Lamar Advertising | $150.38 | +0.02% | $15.26B | 27.4 | 24.7 | 6.6 | +6.5% |
| Cable One | $25.65 | +0.71% | $144.7M | — | 1.5 | 0.1 | −8.4% |
| Lumen Technologies | $6.10 | +0.91% | $6.22B | — | — | 0.5 | −9.3% |
| Travelers | $372.15 | +0.62% | $77.15B | 9.9 | 12.4 | 1.6 | −4.8% |
| OUTFRONT Media | $29.60 | −0.03% | $5.21B | 21.0 | 21.7 | 2.7 | +13.5% |
| Old Republic International | $42.07 | 0.00% | $10.25B | 9.2 | 13.1 | 1.1 | +13.4% |
| Clear Channel Outdoor | $2.34 | −0.21% | $1.19B | — | — | 0.7 | +8.8% |
| Median | 15.4 | 13.1 | 1.1 | +6.5% |