Boston Omaha Corporation Announces Full Year 2022 Financial Results
Boston Omaha Corporation (NYSE: BOC) announced its financial results for the fiscal year ended
- Total revenues increased from $56,971,811 in 2021 to $81,234,194 in 2022, a growth of approximately 42.5%.
- Billboard Rentals rose to $39,244,726 from $31,499,235 year-over-year.
- Broadband Services revenue jumped to $28,627,271 from $15,234,266, reflecting significant growth.
- Net loss from operations was $5,229,895, although improved from a loss of $23,766,869 in 2021.
- Cash outflow from operations amounted to ($5,165,165) in 2022, compared to an inflow of $7,768,237 in 2021.
We show below summary financial data for fiscal 2022 and 2021. Our Annual Report on Form 10-K can be found at www.bostonomaha.com.
| For the Years Ended | ||||||||
2022 |
2021 |
|||||||
| Billboard Rentals, Net | $ |
39,244,726 |
|
$ |
31,499,235 |
|
||
| Broadband Services (1) |
|
28,627,271 |
|
|
15,234,266 |
|
||
| Premiums Earned |
|
10,649,089 |
|
|
7,686,400 |
|
||
| Insurance Commissions |
|
2,050,838 |
|
|
2,212,849 |
|
||
| Investment and Other Income |
|
662,270 |
|
|
339,061 |
|
||
| Total Revenues |
|
81,234,194 |
|
|
56,971,811 |
|
||
| Depreciation and Amortization Expense |
|
15,123,857 |
|
|
10,128,634 |
|
||
| Net Loss from Operations |
|
(5,229,895 |
) |
|
(23,766,869 |
) |
||
| Net Other Income |
|
9,019,038 |
|
|
96,940,657 |
|
||
| Net Income Attributable to Common Stockholders | $ |
7,139,548 |
|
$ |
52,748,177 |
|
||
| Basic and Diluted Net Income per Share | $ |
0.24 |
|
$ |
1.82 |
|
||
2022 |
2021 |
|||||||
| Total Unrestricted Cash & Investments (2) | $ |
67,782,480 |
|
$ |
230,670,929 |
|
||
| Total Assets |
|
683,717,859 |
|
|
807,053,793 |
|
||
| Total Liabilities |
|
157,068,480 |
|
|
166,458,071 |
|
||
| Redeemable Noncontrolling Interest |
|
15,713,021 |
|
|
144,270,503 |
|
||
| Total Boston Omaha Stockholders' Equity |
|
503,527,290 |
|
|
496,325,219 |
|
||
| Noncontrolling Interests (3) |
|
7,409,068 |
|
|
- |
|
||
| Total Equity | $ |
510,936,358 |
|
$ |
496,325,219 |
|
||
(1) |
Includes the InfoWest and Go Fiber acquisitions completed on |
|
(2) |
Investments consist of |
|
(3) |
Noncontrolling interests related to third party capital raised within our build for rent fund. |
|
(4) |
Excludes Sky Harbour Class A common stock as we account for our investment under the equity method. |
Generally Accepted Accounting Principles require us to include the unrealized changes in market prices of investments in public equity securities in our reported earnings(4). In the table above, “Net Other Income” includes other investment losses of
Cash outflow from operations for the year ended
Our book value per share was
As of
As of
About
Forward-Looking Statements
Any statements in this press release about the Company’s future expectations, plans and prospects, including statements about our financing strategy, future operations, future financial position and results, market growth, total revenue, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Any statements in this press release about the Company’s future expectations, plans and prospects, including statements about our financing strategy, future operations, future financial position and results, market growth, total revenue, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the Company’s forward-looking statements, and you should not place undue reliance on the Company’s forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company make as a result of a variety of risks and uncertainties, including risks related to the Company’s estimates regarding the potential market opportunity for the Company’s current and future products and services, the impact of the COVID-19 pandemic, the competitive nature of the industries in which we conduct our business, general business and economic conditions, our ability to acquire suitable businesses, our ability to successfully integrate acquired businesses, the effect of a loss of, or financial distress of, any reinsurance company which reinsures the Company’s insurance operations, the risks associated with our investments in both publicly traded securities and privately held businesses, our history of losses and ability to maintain profitability in the future,
the Company’s expectations regarding the Company’s sales, expenses, gross margins and other results of operations, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s public filings with the
Our investor relations website is https://investor.bostonomaha.com/ and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20230324005380/en/
contact@bostonomaha.com
Source:
FAQ
What were Boston Omaha Corporation's revenues for 2022?
What was the net loss from operations for Boston Omaha Corporation in 2022?
How did Boston Omaha's revenue from Broadband Services change in 2022?
What were the total liabilities for Boston Omaha Corporation as of December 31, 2022?
What is Boston Omaha Corporation's stock symbol?
