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Financial Statements — SBAC

Balance Sheet

(in billions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Cash & Equivalents	0.33	0.27	0.26	0.43	0.28	0.64	0.19	0.19	0.22	0.24	0.21	0.19	0.18	0.15	0.14	0.20	0.18	0.26	0.37	0.19
Total Current Assets	0.74	0.77	0.77	0.81	0.52	0.93	1.98	0.45	0.46	0.45	0.48	0.46	0.52	0.47	0.48	0.53	0.49	0.54	0.61	0.40
Real Estate Assets	3.45	3.42	3.40	3.30	3.26	2.82	2.79	2.78	2.72	2.71	2.71	2.70	2.71	2.71	2.71	2.66	2.68	2.67	2.58	2.58
Total Assets	11.74	11.72	11.58	11.26	10.77	10.44	11.42	10.20	9.79	10.00	10.18	10.33	10.60	10.54	10.59	9.95	10.01	10.14	9.80	9.67
Total Current Liabilities	4.34	3.35	2.68	1.61	1.43	1.34	1.80	0.67	2.46	2.41	1.36	0.66	0.74	0.64	0.70	1.34	1.32	1.28	0.62	0.59
Long-term Debt	12.73	12.96	12.90	12.71	12.51	12.43	13.59	12.32	12.28	12.36	12.32	12.52	12.60	12.82	12.87	12.36	12.48	12.63	12.30	11.85
Total Liabilities*	16.37	16.47	16.43	16.19	15.71	15.41	16.53	15.38	15.10	15.22	15.35	15.50	15.70	15.81	15.86	15.31	15.45	15.57	15.09	14.63
Retained Earnings	(7.14)	(7.20)	(7.25)	(7.28)	(7.25)	(7.23)	(7.33)	(7.39)	(7.55)	(7.51)	(7.45)	(7.42)	(7.36)	(7.47)	(7.48)	(7.51)	(7.53)	(7.52)	(7.20)	(6.89)
Total Stockholder Equity	(4.63)	(4.75)	(4.85)	(4.93)	(4.94)	(4.97)	(5.11)	(5.17)	(5.32)	(5.22)	(5.17)	(5.17)	(5.09)	(5.27)	(5.28)	(5.36)	(5.44)	(5.43)	(5.28)	(4.96)

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* Derived from reported values

Income Statement

(in millions USD) (except per-share rows)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Total Revenue	51.39	47.29	53.37	75.90	67.19	48.04	47.37	41.90	34.02	29.59	38.94	45.10	52.36	58.25	76.49	88.28	71.77	60.34	55.87	53.81
Cost of Revenue	41.93	39.42	44.75	62.51	53.53	38.19	36.02	32.39	27.14	23.18	25.02	31.49	39.24	44.19	57.16	65.54	54.50	45.77	42.92	41.36
Total Operating Expenses	187.41	189.25	245.24	168.37	192.10	175.67	159.23	141.66	164.74	196.51	321.04	284.17	283.02	287.07	279.27	255.04	255.02	250.06	257.96	237.51
Operating Income	351.86	342.85	298.93	374.17	334.78	334.91	382.34	375.60	354.47	323.36	209.69	248.60	241.23	224.14	234.66	242.99	230.98	216.78	197.38	211.78
Net Income	198.78	184.83	370.29	236.82	225.79	220.73	173.63	258.53	162.83	154.54	109.53	87.42	203.65	101.22	103.28	100.01	69.52	188.62	48.90	47.80
Diluted EPS	1.87	1.74	3.47	2.20	2.09	2.04	1.61	2.40	1.51	1.42	1.01	0.80	1.87	0.93	0.95	0.91	0.64	1.72	0.45	0.43

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Cash Flow Statement

(in billions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Operating Cash Flow	0.41	0.26	0.30	0.32	0.37	0.30	0.31	0.30	0.43	0.29	0.43	0.31	0.49	0.31	0.29	0.33	0.37	0.29	0.30	0.25
Capital Expenditures	0.06	0.05	0.06	0.06	0.06	0.05	0.06	0.06	0.05	0.06	0.06	0.06	0.06	0.05	0.07	0.06	0.05	0.04	0.04	0.04
Free Cash Flow*	0.34	0.21	0.24	0.26	0.31	0.26	0.25	0.24	0.38	0.24	0.37	0.25	0.42	0.26	0.22	0.28	0.32	0.25	0.26	0.22
Investing Cash Flow	(0.01)	(0.30)	(0.18)	(0.08)	(0.58)	0.24	(0.33)	(0.27)	(0.12)	(0.09)	(0.11)	(0.10)	(0.11)	(0.15)	(0.80)	(0.11)	(0.23)	(0.26)	(0.15)	(0.09)
Financing Cash Flow	(0.37)	(0.07)	(0.14)	(0.08)	(0.16)	(1.28)	1.18	(0.07)	(0.28)	(0.19)	(0.31)	(0.23)	(0.31)	(0.16)	0.43	(0.19)	(0.22)	(0.15)	0.03	(0.24)

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* Derived from reported values