Boston Omaha Corporation · NYSE:BOC
Boston Omaha — Q3 2024 Earnings Presentation
13 slides from Boston Omaha's earnings presentation, Nov 12, 2024
Slide 1: Q3 2024 Financial Results
BOSTON OMAHA Q3 2024 Financial Results November 12, 2024
Slide 2: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
BOSTON OMAHA SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 ‘This presentation by Boston Omahs Corporation contains “foward looking statements” ‘contingencies or results, appear at various places in this presentation and use words oject.” strategy" "target” and simi
Slide 3: Q3 2024 Highlights
Q3 2024 Highlights Link Media Outdoor Boston Omaha Broadband General Indemnity Group Boston Omaha Asset Management Investment in Sky Harbour Group Revenue growth of 5.6% YoY Land cost of 18.7% Adjusted EBITDA of $4.5 million (up 9.9% YoY) ~2,800 new fiber passings /~1,600 new fiber subscribers $5.8
Slide 4: Business Unit Updates
Business Unit Updates
Slide 5: Link Media Outdoor
Link Media Outdoor BOSTON - OMAHA Outdoor Advertising | mem 87 | vo24 ghlights + Record level of revenue recorded in Q3 ’24. Revenue $11.5 5.6% $33.6 5.0% * Continue to focus on lowering land costs through easement purchases and land lease renewals. Growth Land cost % 18.7% (0.2)% 18.6% (0.3)% Gross
Slide 6: Boston Omaha Broadband
Boston Omaha Broadband scare OMAHA) AireBeam, InfoWest and Utah Broadband | mem 87 | vo24 YoY Highlights oe Cot + 2.0k new fiber passings and 1.1k new fiber subscribers Revenue $9.2 4.8% $28.1 9.0% during Q3‘24. . * Continue to focus on developing strategic partnerships Gross margin % 79.6% 3.1% 79.
Slide 7: Boston Omaha Broadband: Fiber Fast Homes
Boston Omaha Broadband BOSTON Fiber Fast Homes - Greenfield Fiber New Homes Division oan | mem 87 | vo24 YoY Highlights oe Cot + 0.8k new fiber passings and 0.5k new fiber subscribers Revenue $0.4 133.4% $1.0 144.6% during Q3‘24. * Working to continue growing subscriber base while Gross margin % (21
Slide 8: General Indemnity Group
General Indemnity Group gOsTON OMAHA Surety Insurance YoY YoY | CE Growth | Vee Growth Leen * Licensed to operate in all 50 states and the District of Gross written premium $6.7 67.0% $19.2 52.8% Columbia. + Agencies consolidated as of January 2024 and Revenue $6.5 41.4% $17.3 32.4% rebranded to BOS
Slide 9: Investments
Investments Mann GAAP Value (7) Market Value (12) Proceeds to Date (19) Sky Harbour $90.2 $154.7 $2.5 CB&T $19.1 n/a Build for Rent Fund $6.1 $8.9 24" Street Funds $4.2 $7.7 Other '"4) $3.9 $1.7 11. GAAP valueas of September 30, 2024 12. NYSE market value of 12,440,642 shares of Sky Harbour Class A
Slide 10: Cash, Tax Assets, and Share Repurchase Authorization
Cash, Tax Assets, and Share Repurchase Authorization
Slide 11: Cash, Tax Assets, and Share Repurchase Program
Cash, Tax Assets, and Share Repurchase [rath Program As of Sept 30, 2024 Unrestricted cash (5) $13.6 U.S. Treasury securities $15.3 Total $28.9 Net operating loss carry forwards "®) $72.5 BOC share repurchase authorization remaining "”) $18.6 15, Excludes United Casualty and Surety Insurance Company
Slide 12: Appendix
Appendix
Slide 13: Non-GAAP Information
Non-GAAP Information Bosra ($M) Unk Media Outdoor For the Tee Months Forthe Nine Months Ended September, change Ended September 2 change 22s 203 * oes 203 * ‘Netincome > ov S 8S 2 F BS OF Inecestexpense,net oa 02 02 10 07 03 Depreciation 13 13 (00) a0 38 00 amonaation 10 10 (00) 29 30 (oo) deaaton a