Boston Omaha Corporation, parent company of Link Media, announced its financial results for the first quarter ended March 31, 2022, in connection with filing its Quarterly Report on Form 10-Q with the Securities and Exchange Commission.

Insider reviewed and wants to highlight a couple of items from the quarterly report.  Boston Omaha has ownership in a number of business sectors including outdoor billboard advertising, broadband services, surety insurance and related brokerage businesses and an asset management business. In addition, they hold minority investments in commercial real estate management and brokerage services, a bank focused on servicing the automotive loan market, a homebuilding company and a developer of private aviation infrastructure focused on building, leasing and managing business aviation hangars.

Below is a chart showing reviewing 1st quarter revenue by business segment.  Link Media continues to be Boston Omaha’s largest revenue segment at $9.1 million for the quarter with 56% of the combined total. On their 10-Q Link Media reports they operate approximately 3,900 billboards with approximately 7,400 advertising faces. In 2021 Billboard Insider ranked Link Media as the 6th largest billboard company by number of faces.

Looking at quarterly growth of Link Media, year to year, we provide an additional chart.  Link Media first quarter revenues grew nearly 28% and their Billboard Cash Flow showed a 30.7% increase. The company acquired assets from Missouri Neon and Keleher Outdoor in fourth quarter 2021, adding over 1,400 billboard faces in Missouri, Oklahoma, Kansas and Arkansas, driving their revenue increase.

At March 31, 2022, Link Media had approximately $87 million in unrestricted cash and approximately $24 million in U.S. Treasury trading securities. The company has plenty of capability for additional growth as it becomes available.

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