Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38113 BOSTON OMAHA CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 27-0788438 (State o ...

Core Viewpoint - Boston Omaha Corporation presents a strong buying opportunity due to revenue growth across all business segments, significant insider buying, a new CEO focused on segment improvement, and a $20 million share buyback program [1][17][18] Business Overview - Boston Omaha operates in four segments: outdoor advertising, broadband services, insurance operations, and asset management [2][3] Revenue Performance - Total revenue for Q1 2024 was $25.55 million, a 12% year-over-year increase from $22.82 million [5] - Revenue growth was observed in all business segments, with billboard rentals generating $10.70 million and broadband services $9.68 million in Q1 2024 [4][5] Financial Indicators - Positive operating cash flow of $2.42 million in Q1 2024, up 77% from $1.37 million in Q1 2023 [6] - Total assets decreased slightly to $757.34 million, a 1.4% decline from Q4 2023 [6] - Book value per share remained stable at $17.10 compared to $17.19 at the end of December 2023 [6] Net Loss Analysis - Net loss attributable to common shareholders was $2.81 million in Q1 2024, an improvement from a $3.32 million loss in Q1 2023 [7] - Increased depreciation and amortization costs by 18% year-over-year, totaling $5.34 million [7] - Employee expenses reached $8.63 million, accounting for 33.8% of total revenues [7] Strategic Initiatives - Focus on expanding broadband services in Arizona, Nevada, Utah, and entering Florida [10] - Plans to enhance the insurance segment by servicing small contractors and businesses [10] - Exploration of digital display technologies in the outdoor advertising segment to improve margins [10] Insider Activity and Share Buyback - Insider buying activity totaled approximately $2.5 million between May and June 2023 [14] - A $20 million share buyback program is set to commence around August 15, 2024, and run through September 30, 2025 [14][18] Conclusion - Boston Omaha is viewed as a compelling buying opportunity due to its diversified operations, revenue growth, and strategic initiatives under new leadership [17][18]

Core Insights - Boston Omaha Corporation has been compared to an early-stage Berkshire Hathaway, but its performance has not matched the achievements of Warren Buffett's team after 10 years in business [2] Company Performance - The company has shown significant red flags in its business operations, raising concerns about its future prospects [1][2] - Recent developments have prompted discussions about whether the stock represents a good value or if the risks outweigh the potential benefits [2]

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it. Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. - ...

Image Source/DigitalVision via Getty Images Broadband services refers to "a rural broadband internet provider that serves over 8,000 customers in communities in southern Arizona with a high-speed fixed wireless internet service and is building an all fiber-to-the-home network in select Arizona markets". For 2023, it made up 36.7% of total sales and came in at $35 million. Investment Thesis Surety insurance refers to "an insurance subsidiary, GIG, designed to own and operate insurance businesses generally ha ...

Consolidated Statements of Cash Flows (Continued) Unaudited 10 For the Three Months Ended March 31, 2024 and 2023 On April 20, 2016, we completed an acquisition of a surety bond brokerage business. On December 7, 2016, we acquired a fidelity and surety bond insurance company. From 2017 through 2022, we completed four additional acquisitions of surety brokerage businesses. Table of Contents NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES We determine whether an entity is a VIE and, if so, whether it shoul ...

Half of the CEO tandem is stepping down.The "Boston" half of the CEO tandem that has run Boston Omaha (BOC -2.90%) for nearly a decade is stepping aside. Investors were taken by surprise, sending shares of Boston Omaha down as much as 9% at the open before recovering to be down 4% as of 11 a.m. ET.End of an eraBoston Omaha has always been a bit of an oddity. It is the holding company for four majority-owned businesses in the billboard, broadband, insurance, and asset management industries run by co-CEOs Ale ...

We do not intend to pay dividends for the foreseeable future, and our stockholders will not be guaranteed, or have contractual or other rights, to receive dividends. Our Board of Directors may, in its discretion, modify or repeal our dividend policy or discontinue entirely the payment of dividends. The declaration and payment of dividends depends on various factors, including: our net income, financial condition, cash requirements, future prospects and other factors deemed relevant by our Board of Directors ...

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the d ...

| --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------------|-------|----------------|---------------|-------|-------------|-------|--------------| | | 2023 | June 30, \n | \n2022 | | June \n2023 | 30, | 2022 | | | | | | | | | | | Revenues: | | | | | | | | | Billboard rentals, net | $ | 10,835,524 $ | 9,825,164 | $ | 21,137,747 | $ | 18,963,313 | | Broadband services | | 8,695,235 | 8,078,580 | | 17,235,141 | | 12,155,526 | | Pre ...