SBAC Q2 2025 Earnings — SBA Communications Corporation Revenue & Financial Results | Market Cap Arena

SBACSBA Communications Corporation

$21B

Q2 2025 Earnings

Real Estate REIT - Specialty

Income Statement

Revenue

$699M+5.8% YoY

Gross Profit

$521M74.5% margin

Operating Income

$335M47.9% margin

Net Income

$226M32.3% margin

EPS (Diluted)

$2.09

QoQ Revenue Growth

+5.2%

Cash Flow

Operating Cash Flow

$368M

Free Cash Flow

$312M

Stock-Based Comp.

$22M

Balance Sheet

Total Assets

$10.8B

Total Liabilities

$15.6B

Stockholders' Equity

-$4.9B

Cash & Equivalents

$275M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$699M	$660M	+5.8%
Gross Profit	$521M	$513M	+1.6%
Operating Income	$335M	$354M	-5.6%
Net Income	$226M	$163M	+38.7%

Revenue Segments

Domestic Site Leasing Revenue

$470M67%

International Site Leasing Revenue

$162M23%

Site Development Construction

$67M10%

Geographic Segments

Domestic Site Leasing Revenue

$470M74%

International Site Leasing Revenue

$162M26%