SBA Communications Corp. Files Q2 2024 10-Q

TL;DR

**SBAC Q2 10-Q FILED: Financials and updates for investors.**

AI Summary

SBA Communications Corp. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures relevant to investors are presented.

Why It Matters

This filing provides investors with the latest financial performance data for SBA Communications Corp., crucial for understanding the company's health and making investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard for public companies and contain a mix of routine financial data and potential risk disclosures.

Key Numbers

• Q2 2024 — Reporting Period (Financial results for the second quarter of 2024 are detailed.)

Key Players & Entities

• SBA COMMUNICATIONS CORP (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240802 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — hich Registered Class A Common Stock, $0.01 par value per share SBAC The NASDAQ

Filing Documents

• sbac-20240630x10q.htm (10-Q) — 7903KB
• sbac-20240630xex31_1.htm (EX-31.1) — 15KB
• sbac-20240630xex31_2.htm (EX-31.2) — 14KB
• sbac-20240630xex32_1.htm (EX-32.1) — 8KB
• sbac-20240630xex32_2.htm (EX-32.2) — 8KB
• 0001034054-24-000009.txt ( ) — 23166KB
• sbac-20240630.xsd (EX-101.SCH) — 61KB
• sbac-20240630_cal.xml (EX-101.CAL) — 83KB
• sbac-20240630_def.xml (EX-101.DEF) — 222KB
• sbac-20240630_lab.xml (EX-101.LAB) — 494KB
• sbac-20240630_pre.xml (EX-101.PRE) — 458KB
• sbac-20240630x10q_htm.xml (XML) — 5746KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 1 Consolidated Statements of Operations (unaudited) for the three and six months ended June 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income (unaudited) for the three and six months ended June 30, 2024 and 2023 3 Consolidated Statement of Shareholders' Deficit (unaudited) for the three and six months ended June 30, 2024 and 2023 4 Consolidated Statements of Cash Flows (unaudited) for the six months ended June 30, 2024 and 2023 6 Condensed Notes to Consolidated Financial Statements (unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 43

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 5. Other Information 44 Item 6. Exhibits 44

SIGNATURES

SIGNATURES 45 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

: FINANCIAL STATEMENTS

ITEM 1: FINANCIAL STATEMENTS SBA COMMUNICATIONS CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except par values) June 30, December 31, 2024 2023 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 220,508 $ 208,547 Restricted cash 58,474 38,129 Accounts receivable, net 88,650 182,746 Costs and estimated earnings in excess of billings on uncompleted contracts 19,810 16,252 Prepaid expenses and other current assets 72,564 38,593 Total current assets 460,006 484,267 Property and equipment, net 2,719,810 2,711,719 Intangible assets, net 2,314,238 2,455,597 Operating lease right-of-use assets, net 2,129,244 2,240,781 Acquired and other right-of-use assets, net 1,376,941 1,473,601 Other assets 785,939 812,476 Total assets $ 9,786,178 $ 10,178,441 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 50,738 $ 42,202 Accrued expenses 76,319 92,622 Current maturities of long-term debt 1,806,304 643,145 Deferred revenue 191,325 235,668 Accrued interest 57,928 57,496 Current lease liabilities 262,781 273,464 Other current liabilities 14,170 18,662 Total current liabilities 2,459,565 1,363,259 Long-term liabilities: Long-term debt, net 10,473,739 11,681,170 Long-term lease liabilities 1,755,101 1,865,686 Other long-term liabilities 373,697 404,161 Total long-term liabilities 12,602,537 13,951,017 Redeemable noncontrolling interests 40,817 35,047 Shareholders' deficit: Preferred stock - par value $ 0.01 , 30,000 shares authorized, no shares issued or outstanding — — Common stock - Class A, par value $ 0.01 , 400,000 shares authorized, 107,471 shares and 108,050 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 1,075 1,080 Additional paid-in capi

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View this 10-Q filing on SEC EDGAR