Link Media continues to grow although at a slower pace.  Here are the Link Media financials extracted from the Boston Omaha 2023 10k.

• Revenues increased by 6% to $10.9 million during the fourth quarter of 2023 due to increases in occupancy and rate.  Here are Link Media’s quarterly billboard revenues for 2023.

Link Media Outdoor quarterly revenue (thousands)

• Cashflow (EBIDTA) increased by $2 million (12%) to $16 million for the entire year. Link Media Outdoor’s cashflow margin increased to 37% for the full year 2023.  Link Media Outdoor’s cashflow margins exceeds Clear Channel Outdoor (20% cashflow margin) and OUTFRONT (23% cashflow margin) but trails Lamar (46% cashflow margin).
• The company ended the year with a $27 million term loan.  Debt/Cashflow is 1.7 times, the lowest figure of the public out of home companies.

Billboard Insider’s take: Another year of scale economics as revenues increase faster than cashflow and the cashflow margin improves.

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