Boston Omaha Corporation has authorized a $30 million share repurchase program for its Class A common stock, effective from the announcement on November 17, 2025 and running through December 31, 2026. The program will be executed through open‑market purchases, private negotiations, or other methods that comply with Rule 10b‑18 of the Securities Exchange Act of 1934, and the company may also use Rule 10b‑5‑1 trading plans to pre‑arrange repurchases.
The decision comes amid a period of mixed financial performance. In the third quarter of 2025, Boston Omaha reported revenue of $28.7 million, up 3.6 % from $27.7 million in the same quarter a year earlier. However, the company’s net loss widened to $2.59 million from $1.6 million, and earnings per share fell to –$0.08 versus the consensus estimate of $0.01. Book value per share was $16.80 at September 30, 2025, slightly below the $16.99 recorded at the end of 2024. These figures reflect heavy investment in broadband, insurance, and asset‑management initiatives that have increased operating expenses while revenue growth remains modest.
Despite the widening losses, management views the share price as undervalued and believes the company’s long‑term fundamentals remain strong. The buyback is intended to return excess cash to shareholders, support the share price, and signal confidence in the company’s intrinsic value. It also provides flexibility to deploy capital as cash flows improve, aligning with Boston Omaha’s broader strategy of disciplined investment in its core broadband and insurance businesses.
Segment analysis shows that revenue growth is driven primarily by billboard and broadband sales, while the surety insurance segment experienced a higher loss ratio and reserve additions that contributed to the net loss. Asset‑management performance was stable, but the overall mix of segments underscores why the company is investing heavily in growth areas even as profitability pressures mount. This context explains why a large buyback program may appear counterintuitive in the face of losses, yet management believes the intrinsic value of the stock remains attractive.
At the time of the announcement, the stock was trading near its 52‑week low, and some analysts adjusted price targets downward in light of the company’s recent earnings miss and insurance‑segment challenges. Nonetheless, the buyback is viewed by many investors as a potential catalyst for upside, though caution remains due to ongoing profitability concerns.
The $30 million authorization represents roughly 6.5 % of Boston Omaha’s market capitalization of $464 million. The program will be executed flexibly, with the company able to choose the timing, volume, and method of repurchases as its cash position evolves. Management expects to use the program to return capital to shareholders while maintaining the ability to invest in growth opportunities.
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