Link Media Outdoor, the out of home subsidiary of publicly-traded Boston Omaha, had flat revenues during 2Q 2025. Here are the results of the Boston Omaha 2Q 2025 earnings release, sponsored and analyzed by SignValue.
- Revenues were flat at $11.4 million during the second quarter of 2025.
- Ground rent expense increased slightly from 18% of revenue during 1Q 2025 to 18.2% of revenue in 2Q 2025. We consider anything under 20% as low.
- Commission expense declined by 18% to $741,000 during the second quarter of 2025 due to a change in the company’s compensation policy.
- Employee costs increased by 11% to $2.1 million during the second quarter of 2025 due to a shift of some commission costs to salaries.
- G&A expense increased 10% to $1.1 million during 2Q 2025 due to higher insurance, software and employee training costs.
- Cashflow (EBIDTA) declined by $148,000 to $4.5 million and the company’s cashflow margin shrank from 40.8% in the second quarter of 2024 to 39.5% in the second quarter of 2025.
- Link Media closed no new acquisitions. Capital expenditures totalled $652,281 during the second quarter of 2025.
SignValue’s take: An uncharacteristically weak quarter for Link Media with flat revenues and a small decline in cashflow. The drop in cashflow doesn’t have much impact on the company’s already low leverage.
If you have questions, contact one of SignValue’s experienced analysts for a free and confidential consultation at info@signvalue.com or call 480-657-8400.
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