Boston Omaha Corp
bostonomaha.comWhat Do They Do?
Runs billboard advertising for advertisers, broadband internet for subscribers, and surety insurance sold through independent agents; also manages real estate funds.
10-K for FY2025, filed Mar 30, 2026Boston Omaha Corporation, which we refer to as “the Company,” “our Company,” “we,” “us” or “our,” commenced its current business operations…View ↗
In June 2015, we commenced our billboard business operations through acquisitions by our wholly owned subsidiary, Link Media Holdings, LLC…View ↗
In September 2015, we established an insurance subsidiary, General Indemnity Group, LLC, which we refer to as “GIG,” designed to own and…View ↗
In April 2019, we established a broadband subsidiary, Fiber is Fast, LLC, which has changed its name to Boston Omaha Broadband, LLC, which…View ↗
In September 2017, we established an asset management subsidiary, Boston Omaha Asset Management, LLC, which we refer to as “BOAM,” designed…View ↗
How Do They Make Money?
Billboard advertisers rent space under contracts generally billed monthly, while broadband customers pay for internet service delivered over contract terms. Surety revenue comes from premiums earned across policy terms and commissions when bonds are issued.
10-K for FY2025, filed Mar 30, 2026We generate revenue from outdoor advertising through the leasing of advertising space on billboards. The terms of the contracts range from…View ↗
Broadband revenue is derived principally from internet services and is recognized on a straight-line basis over the term of the contract in…View ↗
Premiums written are recognized as revenues based on a pro-rata daily calculation over the respective terms of the policies in-force. The…View ↗
We generate revenue from commissions on surety bond sales and account for commissions under ASC 606. Insurance commissions are earned from…View ↗
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10-K for FY2025, filed Mar 30, 2026
FY2025 revenue by reportable segment ↗
$114.4M
-
10-K for FY2025, filed Mar 30, 2026
$114.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
GIG
Mix
10-K for FY2025, filed Mar 30, 2026 |
24%
FY2022: 16%
|
GIG, FY2025
$27.2M Sources
|
Mix |
|
LMH
Recurring
10-K for FY2025, filed Mar 30, 2026 |
40%
FY2022: 48%
|
LMH, FY2025
$45.9M Sources
|
Recurring |
|
BOB
Recurring
10-K for FY2025, filed Mar 30, 2026 |
36% |
BOB, FY2025
$41.2M Sources
|
Recurring |
|
BOAM
|
0.1%
FY2022: 0.0%
|
BOAM, FY2025
$93.9K Sources
|
Who Are Their Customers?
Advertisers rent billboard space, and broadband customers subscribe to internet service; independent insurance agents use the BOSS Bonds portal to purchase surety insurance.
10-K for FY2025, filed Mar 30, 2026We generate revenue from outdoor advertising through the leasing of advertising space on billboards. The terms of the contracts range from…View ↗
Broadband revenue is derived principally from internet services and is recognized on a straight-line basis over the term of the contract in…View ↗
In September 2015, we established an insurance subsidiary, General Indemnity Group, LLC, which we refer to as “GIG,” designed to own and…View ↗
Do Revenues Turn Into Profits?
No. It lost $12.4M in FY2025.
10-K for FY2025, filed Mar 30, 2026
−$3.9MView ↗
10-K for FY2025, filed Mar 30, 2026
−$12.4MView ↗
10-K for FY2025, filed Mar 30, 2026
−$10MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 13, 2026
−$1.6MView ↗
10-Q for Q2 FY2026, filed Aug 13, 2026
Open tableView ↗
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May 18, 2026
Agrees to sell its surety insurance business
CopperPoint will acquire GIG, including BOSS Bonds and UCS, in an all-cash transaction expected to close in the second half of 2026 after required approvals.
Sources
8-K, filed May 18, 2026
On May 18, 2026, Boston Omaha Corporation, a Delaware corporation (“Boston Omaha”) and the other two equityholders (collectively, the…View ↗
Growing. Revenue grew 2.0x in 4 years, from $57M in FY2021 to $114.4M in FY2025, about 19% a year.
Winding down rental-home plans
The older report proposed developing and owning rental homes and adding broadband service to them. The latest report says it is selling the fund's entitled land and winding down that plan, while BOAM now manages only real estate funds.
10-K for FY2022, filed Mar 24, 2023 10-K for FY2025, filed Mar 30, 2026We recently established a subsidiary within Boston Omaha Asset Management, LLC, which we refer to as “BOAM,” to operate a proposed build…View ↗
Who Do They Compete With?
Competes with Clear Channel Outdoor, Outfront Media, Lamar Advertising, Travelers, Liberty Mutual, Zurich Insurance Group, CNA Insurance Group, Chubb, Comcast, Charter Communications, Optimum, AT&T, T-Mobile, and Verizon
10-K for FY2025, filed Mar 30, 2026Outdoor Billboard Advertising. The outdoor advertising industry in the United States consists of several large companies, and three…View ↗
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