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.
Revenue
$732.3M
Gross Profit
$542.5M
Operating Profit
$374.2M
Net Profit
$236.8M
Gross Margin
74.1%
Operating Margin
51.1%
Net Margin
32.3%
YoY Growth
9.7%
EPS
$2.20
SBA Communications Q3 FY2025 Financial Summary
SBA Communications reported revenue of $732.3M (up 9.7% YoY) for Q3 FY2025, with a net profit of $236.8M (down 8.4% YoY) (32.3% margin). Cost of goods sold was $189.8M, operating expenses totaled $168.4M.
Key Financial Metrics
| Total Revenue | $732.3M |
|---|---|
| Net Profit | $236.8M |
| Gross Margin | 74.1% |
| Operating Margin | 51.1% |
| Report Period | Q3 FY2025 |
SBA Communications Annual Revenue by Year
SBA Communications annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.8B).
| Year | Annual Revenue |
|---|---|
| 2025 | $2.8B |
| 2024 | $2.7B |
| 2023 | $194.6M |
| 2022 | $296.9M |
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 |