SBAC Q1 2025 Earnings — SBA Communications Corporation Revenue & Financial Results | Market Cap Arena

SBACSBA Communications Corporation

$21B

Q1 2025 Earnings

Real Estate REIT - Specialty

Income Statement

Revenue

$664M+1.0% YoY

Gross Profit

$503M75.8% margin

Operating Income

$335M50.4% margin

Net Income

$221M33.2% margin

EPS (Diluted)

$2.04

QoQ Revenue Growth

-4.2%

Cash Flow

Operating Cash Flow

$301M

Free Cash Flow

$255M

Stock-Based Comp.

$16M

Balance Sheet

Total Assets

$10.4B

Total Liabilities

$15.4B

Stockholders' Equity

-$5.0B

Cash & Equivalents

$636M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$664M	$658M	+1.0%
Gross Profit	$503M	$512M	-1.8%
Operating Income	$335M	$323M	+3.6%
Net Income	$221M	$155M	+42.8%

Revenue Segments

Domestic Site Leasing Revenue

$461M69%

International Site Leasing Revenue

$155M23%

Site Development Construction

$48M7%