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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Site leasing $ 656,427 $ 625,697 $ 1,904,424 $ 1,880,430
Site development 75,900 41,898 191,132 105,504
Total revenues 732,327 667,595 2,095,556 1,985,934
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):        
Cost of site leasing 127,281 117,948 361,330 346,893
Cost of site development 62,508 32,391 154,222 82,705
Selling, general, and administrative expenses [1] 66,008 60,087 203,249 191,161
Acquisition and new business initiatives related adjustments and expenses 5,156 5,388 18,422 19,379
Asset impairment and decommission costs 20,322 12,670 102,578 87,928
Depreciation, accretion, and amortization 76,883 63,515 211,894 204,444
Total operating expenses 358,158 291,999 1,051,695 932,510
Operating income 374,169 375,596 1,043,861 1,053,424
Other income (expense):        
Interest income 5,517 6,999 24,452 21,359
Interest expense (120,154) (95,711) (343,959) (289,632)
Non-cash interest expense (567) (7,192) (10,148) (22,715)
Amortization of deferred financing fees (5,477) (5,185) (16,326) (15,405)
Loss from extinguishment of debt, net       (4,428)
Other income (expense), net 35,595 23,700 111,881 (125,811)
Total other expense, net (85,086) (77,389) (234,100) (436,632)
Income before income taxes 289,083 298,207 809,761 616,792
Provision for income taxes (48,652) (42,316) (125,730) (46,906)
Net income 240,431 255,891 684,031 569,886
Net (income) loss attributable to noncontrolling interests (3,615) 2,643 (689) 6,020
Net income attributable to SBA Communications Corporation $ 236,816 $ 258,534 $ 683,342 $ 575,906
Net income per common share attributable to SBA Communications Corporation:        
Basic $ 2.21 $ 2.41 $ 6.36 $ 5.35
Diluted $ 2.20 $ 2.40 $ 6.34 $ 5.33
Weighted-average number of common shares        
Basic 107,257 107,486 107,509 107,683
Diluted 107,559 107,922 107,831 108,072
[1] Includes non-cash compensation of $18,655 and $15,732 for the three months ended September 30, 2025 and 2024, respectively, and $54,569 and $54,376 for the nine months ended September 30, 2025 and 2024, respectively.