SBA CommunicationsSBACEarnings & Financial Report
SBA Communications Corporation is a real estate investment trust which owns and operates wireless infrastructure in the United States, Canada, Central America, South America, and South Africa. It was founded in 1989 as Steven Bernstein and Associates by Steven Bernstein.
SBAC Q1 FY2026 Key Financial Metrics
Revenue
$703.4M
Gross Profit
N/A
Operating Profit
$342.8M
Net Profit
$184.9M
Gross Margin
N/A
Operating Margin
48.7%
Net Margin
26.3%
YoY Growth
-1.6%
EPS
$1.74
SBA Communications Q1 FY2026 Financial Summary
SBA Communications reported revenue of $703.4M (down 1.6% YoY) for Q1 FY2026, with a net profit of $184.9M (down 15.1% YoY) (26.3% margin).
Key Financial Metrics
| Total Revenue | $703.4M |
|---|---|
| Net Profit | $184.9M |
| Gross Margin | N/A |
| Operating Margin | 48.7% |
| Report Period | Q1 FY2026 |
Revenue Breakdown
SBA Communications Q1 FY2026 revenue of $703.4M breaks down across 2 segments, led by Site leasing at $656.1M (93.3% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Site leasing | $656.1M | 93.3% |
| Site development | $47.3M | 6.7% |
SBA Communications Annual Revenue by Year
SBA Communications annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.8B).
SBA Communications Quarterly Revenue & Net Profit History
SBA Communications results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $703.4M | -1.6% | $184.9M | 26.3% |
| Q4 FY2025 | $719.6M | +3.7% | $370.4M | 51.5% |
| Q3 FY2025 | $732.3M | +9.7% | $236.8M | 32.3% |
| Q2 FY2025 | $699.0M | +5.8% | $225.8M | 32.3% |
| Q1 FY2025 | $664.2M | +1.0% | $220.7M | 33.2% |
| Q4 FY2024 | $693.7M | +2.8% | $178.8M | 25.8% |
| Q3 FY2024 | $667.6M | -2.2% | $258.5M | 38.7% |
| Q2 FY2024 | $660.5M | -2.7% | $162.8M | 24.7% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $660.5M | $667.6M | $693.7M | $664.2M | $699.0M | $732.3M | $719.6M | $703.4M |
| YoY Growth | -2.7% | -2.2% | 2.8% | 1.0% | 5.8% | 9.7% | 3.7% | -1.6% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $9.79B | $10.20B | $11.42B | $10.44B | $10.77B | $11.26B | $11.58B | $11.72B |
| Liabilities | $15.10B | $15.38B | $16.53B | $15.41B | $15.71B | $16.19B | $16.43B | N/A |
| Equity | $-5.32B | $-5.17B | $-5.11B | $-4.97B | $-4.94B | $-4.93B | $-4.85B | N/A |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $425.6M | $304.7M | $1.33B | $301.2M | $368.1M | $318.0M | $1.29B | $255.1M |