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Boston Omaha Corporation Class A (BOC-2.00%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations in outdoor billboard advertising, broadband services, surety insurance, and asset management. The company also holds minority investments in commercial real estate management, a bank focused on automotive loans, and a developer of private aviation infrastructure.
Total revenues for the fiscal year 2024 were $108,274,901, an increase from $96,253,736 in 2023. Billboard rentals contributed $45,153,076, while broadband services added $39,098,228. Premiums earned from surety insurance were $19,759,540, and insurance commissions were $1,962,692.
Total costs and expenses for the fiscal year were $116,742,379, compared to $105,106,139 in 2023. The company's net loss from operations was $8,467,478, a slight improvement from a net loss of $8,852,403 in the previous year.
The company reported net other income of $11,564,072, which included gains from investments and interest income. However, losses from unconsolidated affiliates, primarily related to Sky Harbour Group Corporation, were significant.
Boston Omaha Corporation's cash flow from operations was $21,241,580, with net cash provided by investing activities totaling $28,099,816. The company also reported net cash used in financing activities of $47,557,174.
The company continues to focus on expanding its billboard and broadband services, as well as its insurance operations. It also plans to explore additional investment opportunities in various sectors.
Boston Omaha Corporation has a credit agreement with First National Bank of Omaha, allowing for up to $40 million in borrowing for its billboard operations, and a separate $20 million credit facility for its broadband subsidiaries.
The company operates approximately 4,000 billboard structures and serves about 46,900 broadband customers. Its insurance subsidiary, United Casualty and Surety Insurance Company, is licensed in all 50 states and the District of Columbia.
Boston Omaha Corporation's investments include significant holdings in Sky Harbour Group Corporation, with 12,401,589 shares of Class A common stock and 7,719,779 warrants as of December 31, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Boston Omaha Corporation Class A annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.