Link Media outdoor is still growing. Here are the results from the Boston Omaha 10Q for the 9 months ended September 30, 2023.
- Revenues increased 9.5% to $10.9 million for the 3 months ended September 30, 2023 due to an improvement in rental and occupancy rates and the acquisition of Elevation Outdoor in November 2022.
- Ground rent were $2.0 million or 19% of revenue during the 3 months ended September 30, 2023.
- Sales commissions were $850,000 or 7.8% of revenue during the 3 months ended September 30, 2023
- Cashflow (EBIDTA) increased by $949,000 to $10.9 million for the 3 months ended September 30, 2023. The cashflow margin improved from 36% during the months ended September 30, 2022 to 37% for the 3 months ended September 30, 2023.
Billboard Insider’s take: A good quarter for Link with healthy revenue growth. Ground rent is a reasonable 19% of revenue and the cashflow margin rising as Link benefits from scale economies associated with acquisitions.
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