STOCK TITAN

Boston Omaha (NYSE: BOC) reports Q2 2026 loss, cash growth and $84.3M GIG sale

(Moderate)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Boston Omaha Corporation reported second quarter 2026 results and furnished a press release and investor presentation. Total revenues for the quarter were $22.2 million, compared with $21.7 million a year earlier, with billboard rentals and broadband services as primary contributors. The quarter showed a net loss attributable to common stockholders of $1.6 million, or $0.05 per share, versus a loss of $2.3 million, or $0.07 per share, in 2025.

For the first six months of 2026, revenues were $43.9 million and the net loss attributable to common stockholders was $3.8 million. Total unrestricted cash and investments were $31.8 million, with total assets of $683.1 million and stockholders’ equity of $501.9 million as of June 30, 2026. Operating cash inflow from continuing operations for the six months ended June 30, 2026 was $10.1 million, compared with $8.2 million in the prior-year period.

The company has agreed to sell its insurance subsidiary General Indemnity Group for approximately $84.3 million, and now reports this business as held for sale and discontinued operations. Boston Omaha also highlighted its investment in Sky Harbour, valued at $73.5 million on the balance sheet, and repurchased 451,281 Class A shares for $5.8 million in the quarter.

Positive

  • Operating cash inflow from continuing operations for the first half of 2026 was $10.1 million, up from $8.2 million in the prior-year period, indicating stronger cash generation from the core businesses.
  • The company entered an agreement to sell insurance subsidiary General Indemnity Group for approximately $84.3 million, a significant monetization of a non-core unit, with the transaction expected to close in the second half of 2026.

Negative

  • Despite modest revenue growth, Boston Omaha reported a net loss attributable to common stockholders of $1.6 million for Q2 2026 and $3.8 million for the first half, indicating the business remains unprofitable on a GAAP basis.

Filing Explained

The agreed $84.3 million sale of Boston Omaha’s General Indemnity Group remains pending: closing is expected in the second half of 2026 and requires regulatory approvals and other conditions, so the filing does not describe a completed sale.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Total Revenues $22,200 (thousands) For the three months ended June 30, 2026
Q2 2026 Net Loss Attributable to Common Stockholders $1,612 (thousands) For the three months ended June 30, 2026
Q2 2026 Basic and Diluted Net Loss per Share $0.05 For the three months ended June 30, 2026
6M 2026 Operating Cash Inflow from Continuing Operations $10.1 million Cash inflow for six months ended June 30, 2026 vs $8.2 million in 2025
GIG Sale Price $84.3 million Agreed consideration for sale of General Indemnity Group to CopperPoint
Sky Harbour Investment (Carrying Value) $73.5 million Value of Sky Harbour Class A stock and warrants on June 30, 2026 balance sheet
Sky Harbour Investment (Hypothetical Fair Value) $115.1 million Estimated value if equity method position were measured at quoted market price
Q2 2026 Share Repurchases 451,281 shares; $5.8 million Class A common stock repurchased during the second quarter of 2026
discontinued operations financial
"GIG is now reported as held for sale and as discontinued operations"
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
noncontrolling interest financial
"Noncontrolling Interest in Subsidiary Loss was reported for the period"
The portion of a business owned by investors other than the controlling owner when one company has control of another; it represents outside shareholders’ share of the subsidiary’s assets and profits. For investors, it matters because those outside claims reduce the amount of profit and net assets attributable to the parent owner — similar to saying part of a pizza belongs to someone else — and thus affects earnings, book value and valuation.
equity method financial
"mainly related to our equity method position in Sky Harbour"
An equity method investment is an accounting approach used when a company owns enough of another business to influence its decisions but not control it (commonly around 20–50% ownership). Instead of counting only dividends, the investor records its share of the other company’s profits and losses on its own income statement and adjusts the investment’s value on the balance sheet—like tracking a friend’s joint project by noting your share of their gains or setbacks. For investors, this matters because it can significantly affect reported earnings, asset values, and the apparent strength of a company’s financial results.
held for sale financial
"GIG is now reported as held for sale on the condensed consolidated balance sheets"
An asset or a group of assets classified as 'held for sale' is one the company intends to sell rather than keep using, and management has committed to that plan with an active effort to find a buyer. Investors care because these items are removed from ongoing operating results and valued differently, offering a clearer view of the business’s continuing performance—think of it like marking a piece of furniture for the garage sale rather than counting it as part of your regular household setup.
book value per share financial
"Our book value per share was $16.61 at June 30, 2026"
Book value per share is a company’s net worth on paper — total assets minus liabilities — divided by the number of outstanding shares, showing the equity value attributable to each share. Investors use it like a per-slice estimate of a company’s underlying value to compare with the market price; if the market price is far above the book value, the stock may be priced for strong future profits, and if it’s below, the stock might look undervalued or reflect asset concerns.
Q2 2026 Total Revenues $22.2 million Increased from $21.7 million in Q2 2025
Q2 2026 Net Loss Attributable to Common Stockholders $1.6 million Improved from $2.3 million loss in Q2 2025
Q2 2026 Net Loss per Share $0.05 Improved from $0.07 loss per share in Q2 2025
6M 2026 Operating Cash Inflow from Continuing Operations $10.1 million Higher than $8.2 million in the first half of 2025

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FAQ

How did Boston Omaha (BOC) perform financially in Q2 2026?

Boston Omaha reported Q2 2026 revenues of $22.2 million and a net loss attributable to common stockholders of $1.6 million, or $0.05 per share. In Q2 2025, revenues were $21.7 million and net loss was $2.3 million, or $0.07 per share.

What are Boston Omaha’s (BOC) key year-to-date 2026 financial metrics?

For the six months ended June 30, 2026, Boston Omaha generated $43.9 million in total revenues and a net loss attributable to common stockholders of $3.8 million. Operating cash inflow from continuing operations was $10.1 million, compared with $8.2 million in the first half of 2025.

What is the status of Boston Omaha’s (BOC) sale of General Indemnity Group?

Boston Omaha agreed to sell General Indemnity Group to CopperPoint Insurance Company for approximately $84.3 million. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other closing conditions, and GIG is reported as discontinued operations.

How large is Boston Omaha’s (BOC) investment in Sky Harbour?

Boston Omaha’s investment in Sky Harbour Class A common stock and warrants was carried at $73.5 million on the June 30, 2026 balance sheet. If the equity method position were measured at quoted fair value, the combined investment would have been $115.1 million at that date.

What share repurchases did Boston Omaha (BOC) make in Q2 2026?

During Q2 2026, Boston Omaha repurchased 451,281 shares of its Class A common stock for a total cost of $5.8 million. As of June 30, 2026, it had 29,634,239 Class A and 580,558 Class B shares outstanding.

What is Boston Omaha’s (BOC) balance sheet position as of June 30, 2026?

As of June 30, 2026, Boston Omaha reported $31.8 million in total unrestricted cash and investments, $683.1 million in total assets, $167.8 million in total liabilities, and $501.9 million of stockholders’ equity, resulting in total equity of $515.3 million.
false 0001494582 0001494582 2026-08-13 2026-08-13
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  August 13, 2026 
 
BOSTON OMAHA CORPORATION
(Exact name of registrant as specified in its Charter)
 
Delaware
001-38113
27-0788438
(State or other jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification Number)
 
 
1601 Dodge Street, Suite 3300
Omaha, Nebraska 68102
(Address and telephone number of principal executive offices, including zip code)
 
 (857) 256-0079
(Registrant's telephone number, including area code)
 
Not Applicable
(Former name or address, if changed since last report)
 
Securities registered under Section 12(b) of the Exchange Act:
 
Title of Class
Trading Symbol
Name of Exchange on Which Registered
Class A common stock,
$0.001 par value per share
BOC
The New York Stock Exchange
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of Registrant under any of the following provisions (see General Instruction A.2. below):
 
           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
           Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
           Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act   (17 CFR 240.14d-2(b))
 
           Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
 
Emerging growth company  
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
1

 
 
ITEM 2.02
RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
 
On August 13, 2026, Boston Omaha Corporation (the “Company”) issued a press release entitled “Boston Omaha Corporation Announces Second Quarter 2026 Financial Results” (the "Press Release"). The full text of the Press Release is attached to this Current Report on Form 8-K as Exhibit 99.1. The Press Release was also simultaneously filed on the Company’s website. On the same date, the Company filed on its website a presentation entitled "Boston Omaha Q2 2026 Financial Results" (the "Presentation"). A copy of the Presentation is attached to this Current Report on Form 8-K as Exhibit 99.2. The Press Release also provided information as to the location of the Presentation on the Company's website. In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
 
 
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
 
(d)
Exhibits. The Exhibit Index set forth below is incorporated herein by reference.
 
EXHIBIT INDEX
 
Exhibit
Number
Exhibit Title
   
99.1 Press release dated August 13, 2026 titled “Boston Omaha Corporation Announces Second Quarter 2026 Financial Results.”
99.2 Presentation dated August 13, 2026 titled "Boston Omaha Q2 2026 Financial Results"
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
BOSTON OMAHA CORPORATION
(Registrant)
By:
/s/ Joshua P. Weisenburger
Joshua P. Weisenburger,
Chief FiInancial Officer
 
Date: August 13, 2026
 
2

Exhibit 99.1

 

 

BOSTON OMAHA CORPORATION ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS

 

Omaha, Nebraska (Business Wire)                                               August 13, 2026

 

Boston Omaha Corporation (NYSE: BOC) (the “Company”, “we”, or “our”) announced its financial results for the second quarter ended June 30, 2026, in connection with filing its Quarterly Report on Form 10-Q with the Securities and Exchange Commission.

 

We show summary financial data below for the second quarter of 2026 and 2025. Our Quarterly Report on Form 10-Q can be found at www.bostonomaha.com. A supplemental presentation providing additional financial information for the second quarter of 2026 can be found on our investor relations website at https://investor.bostonomaha.com. We believe that it is important for shareholders to read the supplemental presentation as, in management’s opinion, it provides additional information on business metrics we use in gauging the performance of each of our three principal business units and investments.

 

($ in thousands)

 

For the Three Months Ended

   

For the Six Months Ended

 
   

June 30,

   

June 30,

 
   

2026

   

2025

   

2026

   

2025

 

Billboard Rentals, Net

  $ 11,723     $ 11,441     $ 22,696     $ 22,205  

Broadband Services

    10,477       10,234       21,227       20,554  

Investment and Other Income

    -       4       1       17  

Total Revenues

    22,200       21,679       43,924       42,776  
                                 

Depreciation and Amortization Expense

    6,382       6,016       12,635       11,871  
                                 

Net Loss from Operations

    (603 )     (512 )     (1,159 )     (1,534 )

Net Other Expense

    (2,500 )     (4,531 )     (4,493 )     (6,631 )

Income Tax Benefit on Continuing Operations

    448       803       1,117       990  

Noncontrolling Interest in Subsidiary Loss

    553       2,250       960       4,008  

Income (Loss) from Discontinued Operations

    490       (329 )     (185 )     178  

Net Loss Attributable to Common Stockholders

  $ (1,612 )   $ (2,319 )   $ (3,760 )   $ (2,989 )

Basic and Diluted Net Loss per Share

  $ (0.05 )   $ (0.07 )   $ (0.12 )   $ (0.10 )

 

   

June 30,

   

December 31,

 
   

2026

   

2025

 

Total Unrestricted Cash and Investments (1)

  $ 31,750     $ 36,726  

Total Assets

    683,052       713,073  

Total Liabilities

    167,771       177,000  

Total Boston Omaha Stockholders' Equity

    501,852       516,137  

Noncontrolling Interests (2)

    13,429       19,936  

Total Equity

  $ 515,281     $ 536,073  

 

 

(1)

Investments consist of U.S. Treasury securities classified as trading securities and marketable equity securities. Marketable equity securities excludes Sky Harbour Group Corporation (“Sky Harbour”) Class A common stock as we account for our 14.8% stake (as measured at June 30, 2026) under the equity method.

 

(2)

Noncontrolling interests are primarily related to third party capital raised within our Build for Rent Fund as well as within our 24th Street commercial real estate funds.

 

 

 

On May 18, 2026, we announced that we had entered into an agreement with CopperPoint Insurance Company in which it will acquire 100% of the equity interests in General Indemnity Group (“GIG”), our insurance subsidiary, for approximately $84.3 million. The transaction is expected to close in the second half of 2026, subject to receipt of regulatory approvals and other conditions to closing. Starting in the second quarter of fiscal 2026, GIG is now reported as held for sale on the condensed consolidated balance sheets and as discontinued operations on the condensed consolidated statement of operations.

 

During the second quarter of fiscal 2026, “Net Other Expense” included an unrealized loss of $1.9 million on the Sky Harbour warrants held by Boston Omaha, losses of $0.8 million within BOAM primarily related to the changes in the fair value of the underlying assets within the 24th Street Funds and BFR Fund, $0.6 million in interest expense, and $0.4 million in losses from unconsolidated affiliates mainly related to our equity method position in Sky Harbour. These items were partially offset by $1.0 million in realized gains on the sale of 331,500 shares of Sky Harbour Class A common stock and interest and dividend income of $0.3 million.

 

Our investment in Sky Harbour Class A common stock and warrants was valued at $73.5 million on our condensed consolidated balance sheet as of June 30, 2026. If our investment in Sky Harbour Class A common stock was accounted for at fair value based on its quoted market price (currently valued using equity method accounting), then our total investment in Sky Harbour Class A common stock and warrants would be valued at $115.1 million as of June 30, 2026.

 

Cash inflow from continuing operations for the six months ended June 30, 2026 was $10.1 million, compared to a cash inflow of $8.2 million for the six months ended June 30, 2025.

 

During the second quarter of fiscal 2026, we repurchased 451,281 shares of our Class A common stock for a total cost of $5.8 million.

 

Our book value per share was $16.61 at June 30, 2026, compared to $16.63 at December 31, 2025.

 

As of June 30, 2026, we had 29,634,239 shares of Class A common stock and 580,558 shares of Class B common stock outstanding.

 

As of August 12, 2026, we had 29,546,008 shares of Class A common stock and 580,558 shares of Class B common stock outstanding.

 

About Boston Omaha Corporation

 

Boston Omaha Corporation is a public holding company with four majority owned businesses engaged in outdoor advertising, broadband telecommunications services, surety insurance, and asset management.

 

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 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 makes 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 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 consummation of the proposed sale of our insurance unit to CopperPoint Insurance Company, 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 Securities and Exchange Commission (the “SEC”) on Form 10-K for the year ended December 31, 2025, as well as other risks and uncertainties as described in our Form 10-Q as filed with the SEC for the second quarter of 2026, any subsequent quarterly report on Form 10-Q filed by the Company, and the other reports the Company may file with the SEC from time to time. Copies of our SEC filings are available on our website at www.bostonomaha.com. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date hereof. The Company anticipates that general economic conditions and subsequent events and developments may cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.

 

Our investor relations website, https://investor.bostonomaha.com, serves as a comprehensive resource for investors. We strongly encourage its use for easy access to information about the Company. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information, and select press releases, which may contain material information about us, and you may subscribe to be notified of new information posted to this site.

 

 

Contacts:

Boston Omaha Corporation

Josh Weisenburger, 402-210-2633

contact@bostonomaha.com

 

 

 

Exhibit 99.2

 

 

 

 

 

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Filing Exhibits & Attachments

6 documents