| Balance Sheets | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 430,306 | 275,275 | 636,447 | 186,339 |
| Restricted cash | 30,467 | 20,757 | 23,168 | 61,019 |
| Accounts receivable, net | 158,126 | 139,890 | 129,847 | 111,018 |
| Costs and estimated earnings in excess of billings on uncompleted contracts | 49,564 | 46,811 | 26,840 | 24,742 |
| Prepaid expenses and other current assets | 144,061 | 41,075 | 117,014 | 67,149 |
| Total current assets | 812,524 | 523,808 | 933,316 | 450,267 |
| Property and equipment, net | 3,295,621 | 3,258,183 | 2,818,907 | 2,783,921 |
| Intangible assets, net | 2,725,045 | 2,579,806 | 2,403,046 | 2,492,360 |
| Operating lease right-of-use assets, net | 2,435,273 | 2,419,435 | 2,340,100 | 2,322,890 |
| Acquired and other right-of-use assets, net | 1,349,714 | 1,343,508 | 1,329,207 | 1,379,281 |
| Other assets | 642,062 | 641,647 | 618,341 | 772,944 |
| Total assets | 11,260,239 | 10,766,387 | 10,442,917 | 10,201,663 |
| Accounts payable | 219,725 | 60,820 | 65,043 | 54,438 |
| Accrued expenses | 97,536 | 86,085 | 74,746 | 89,312 |
| Current maturities of long-term debt | 772,562 | 772,181 | 771,802 | 23,000 |
| Deferred revenue | 132,336 | 125,371 | 110,369 | 183,978 |
| Accrued interest | 37,845 | 75,102 | 34,699 | 32,088 |
| Current lease liabilities | 291,537 | 289,465 | 267,544 | 270,922 |
| Other current liabilities | 59,427 | 20,681 | 18,813 | 14,105 |
| Total current liabilities | 1,610,968 | 1,429,705 | 1,343,016 | 667,843 |
| Long-term debt, net | 11,932,919 | 11,739,364 | 11,654,372 | 12,296,479 |
| Long-term lease liabilities | 2,019,508 | 2,004,715 | 1,947,414 | 1,930,943 |
| Other long-term liabilities | 554,222 | 466,341 | 406,214 | 432,158 |
| Total long-term liabilities | 14,506,649 | 14,210,420 | 14,008,000 | 14,659,580 |
| Redeemable noncontrolling interests | 76,605 | 65,157 | 62,604 | 49,092 |
| Common stock - class a, par value 0.01, 400,000 shares authorized, 106,773 shares and 107,561 shares issued and outstanding at september 30, 2025 and december 31, 2024, respectively | 1,068 | 1,075 | 1,080 | 1,075 |
| Additional paid-in capital | 3,038,027 | 3,022,684 | 2,991,050 | 2,941,520 |
| Accumulated deficit | -7,284,980 | -7,251,106 | -7,226,216 | -7,393,799 |
| Accumulated other comprehensive loss, net | -688,098 | -711,548 | -736,617 | -723,648 |
| Total shareholders' deficit | -4,933,983 | -4,938,895 | -4,970,703 | -5,174,852 |
| Total liabilities, redeemable noncontrolling interests, and shareholders' deficit | 11,260,239 | 10,766,387 | 10,442,917 | 10,201,663 |
SBA COMMUNICATIONS CORP (SBAC)
SBA COMMUNICATIONS CORP (SBAC)