Boston Omaha

What Boston Omaha does

Boston Omaha Corporation (NYSE: BOC) is a diversified public holding company headquartered in Omaha, Nebraska that operates four business segments — Broadband, Billboards, Bonds (surety insurance), and Asset Management — with 251–500 employees and approximately 60.4% institutional ownership alongside 23.2% insider ownership. The Broadband segment is delivered through the Boston Omaha Broadband platform, which aggregates four wholly-owned ISPs: AireBeam (fiber-to-the-home and fixed wireless in Arizona), Utah Broadband (fural fiber and fixed wireless along Utah's Wasatch Range, including a $23 million ReConnect grant and BEAD-funded deployment), InfoWest (wireless and fiber across Utah, Nevada, Arizona and Colorado, acquired April 2022), and Fiber Fast Homes (fiber infrastructure partnerships with home builders and build-to-rent developers). The Billboards segment operates through Link Media Outdoor, an out-of-home advertising business running static and digital billboards across 16 U.S. states. The Bonds segment, operated via General Indemnity Group and United Casualty & Surety Insurance Company (A.M. Best 'A-', licensed in all 50 states, Treasury-approved for federal projects), distributes through the proprietary BOSS Bonds and SuretyBonds.Market digital platforms; this segment is under a definitive agreement to be sold to CopperPoint Insurance Company for approximately $84.3 million in cash, expected to close before year-end 2026. The Asset Management segment holds a 15.3% equity-method stake in Sky Harbour Group (aviation infrastructure, valued at $79.3M as of Dec 31, 2025), a minority interest in Crescent Bank, 100% ownership of 24th Street Asset Management (commercial real estate lending), and minority stakes in LOGIC Commercial Real Estate and former positions in Dream Finders Homes and Breezeway.

FY2025 total revenue was $114.4 million, up 5.6% from $108.3 million in FY2024, with Q1 2026 revenue of $28.2 million. The company reported a widening FY2025 net loss of $12.4 million (versus $1.3M in FY2024), driven by $17.6 million in unrealized losses on Sky Harbour warrants and $6.9 million in fair-value losses on 24th Street and BFR Fund assets. Customer concentration is broadly distributed across rural residential broadband subscribers, advertisers across 16 states, and construction/commercial surety producers nationally; revenue is subscription-recurring across broadband, billboard, and surety lines and transaction/equity-method in asset management. The company is led by Chairman, President and CEO Adam K. Peterson (sole CEO since May 2024) and CFO Joshua P. Weisenburger, with a $30 million Class A share repurchase program in place from November 2025 through December 2026.

Name

Boston Omaha

Legal name

Boston Omaha Corporation

Website

https://www.bostonomaha.com/

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

251–500 employees

Short description

Boston Omaha Corporation (NYSE:BOC) is a diversified public holding company operating four segments: rural and residential fiber/wireless broadband (AireBeam, Utah Broadband, InfoWest, Fiber Fast Homes), out-of-home billboard advertising in 16 states (Link Media Outdoor), surety insurance (GIG, pending divestiture), and minority asset-management investments including Sky Harbour and Crescent Bank.

Ownership category

akta.pro rank

Product category

Diversified Holding Company Services

NAICS

Offices of Other Holding Companies (551112), Management of Companies and Enterprises (55111), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Real Estate Agents & Managers (For Others) (6531), Non-Operating Establishments (9995)

akta.pro primary industry

Real Assets — Digital Infrastructure (Data Centers, Fiber, Towers) (FSAHAIAF)

akta.pro secondary industries

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

Keywords

• Rural broadband services
• Outdoor billboard advertising
• Surety insurance bonds
• Fiber internet infrastructure
• Asset management investments

Headquarters

HQ city

Omaha

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Broadband Services: Revenue from fiber internet and fixed wireless services to residential and business customers in rural/underserved communities. Includes AireBeam (Arizona), Utah Broadband, InfoWest (Utah, Nevada, Arizona, Colorado), and Fiber Fast Homes (new home communities).
2. Billboard Advertising: Out-of-home advertising revenue from Link Media Outdoor operating static vinyl and digital billboards across 16 states in mid- and large-sized U.S. markets.
3. Surety Insurance: Premium revenue from General Indemnity Group's United Casualty & Surety Insurance Company (being sold to CopperPoint). Operating through BOSS Bonds and SuretyBonds.Market digital platforms. GIG reported $27.2 million in total revenues for fiscal year 2025.
4. Asset Management: Investment returns and equity method accounting from portfolio companies: Sky Harbour (15.3% stake, $79.3M valuation), Crescent Bank ($19MM investment), 24th Street Asset Management (100% owned), and other investments.
5. Total Company Revenue: FY2025 total revenues of $114.4 million, up 5.6% from $108.3 million in 2024. Q1 2026 revenue of $28.2 million.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Boston Omaha Corporation is a diversified public holding company operating four business segments: Broadband (fiber-to-home and fixed wireless internet services through AireBeam, InfoWest, Utah Broadband, and Fiber Fast Homes), Billboards (out-of-home advertising via Link Media Outdoor across 16 states), Bonds (surety insurance through General Indemnity Group), and Asset Management (equity investments including Sky Harbour, Crescent Bank, 24th Street Asset Management).

Product overview

Boston Omaha Corporation is a diversified public holding company operating four distinct business segments: Broadband (telecommunications services), Billboards (outdoor advertising), Bonds (surety insurance), and Asset Management. The Broadband segment operates through Boston Omaha Broadband (BOB) with four subsidiaries: AireBeam (fiber-to-home and fixed wireless in Arizona), Fiber Fast Homes (fiber services for new home communities), InfoWest (wireless and fiber services in Utah and surrounding states), and Utah Broadband (fiber and fixed wireless in Utah). The Billboards segment operates Link Media Outdoor, an OOH advertising company with static and digital billboards in 16 states. The Bonds segment operates through General Indemnity Group (GIG), an insurance holding company that includes United Casualty & Surety Insurance Company (A-rated surety insurer), BOSS Bonds placement platform, and SuretyBonds.Market technology platform. The Asset Management segment holds investments in Sky Harbour (aviation infrastructure), Crescent Bank (auto financing), 24th Street Asset Management (commercial real estate investments), LOGIC Commercial Real Estate (brokerage services), and previously held positions in Dream Finders Homes and Breezeway.

Differentiator

Problem solved

Functional benefit

Brands

• AireBeam: Fiber-to-home and fixed wireless internet service provider in Arizona, acquired in 2020.
• Utah Broadband
• InfoWest
• Fiber Fast Homes
• Link Media Outdoor
• General Indemnity Group
• BOSS Bonds
• SuretyBonds.Market

Products and services

• AireBeam Fiber-to-home and fixed wireless internet service provider delivering affordable, accessible internet access to rural and underserved communities in Arizona. Offers Gig-speed broadband to residential and small business customers.
• Fiber Fast Homes Fiber-to-the-Home internet service company delivering high-speed fiber internet services at Gig speeds to new home communities and build-to-rent communities. Partners with home builders, developers, and build-to-rent communities for fiber infrastructure deployment.
• InfoWest Wireless broadband and fiber-optic internet services provider serving residents and businesses throughout Utah, Nevada, Arizona, and Colorado. Offers VoIP, TV, security and surveillance, IoT automation, and streaming services in addition to broadband.
• Utah Broadband Fiber and fixed wireless internet service provider delivering broadband fiber to residential customers across counties in Utah's Wasatch Range. Provides enterprise solutions, multi-dwelling/high-density building services, and disaster recovery options.
• Link Media Outdoor Out-of-Home (OOH) advertising company offering static vinyl and digital billboard advertising in mid- and large-sized markets across 16 states in the U.S. Internal sales team collaborates with businesses on billboard campaign execution.
• United Casualty & Surety Insurance Company A-rated (AM Best 'A-' Excellent) monoline surety insurance company licensed to write surety policies in all 50 states and approved by the U.S. Department of the Treasury to bond federal projects throughout the United States. Underwrites commercial and contract surety bonds for construction and commercial contractors.
• BOSS Bonds Surety placement platform operated by General Indemnity Group that enables placement of surety bonds through a digital channel, modernizing traditional surety distribution for construction and commercial contractors.
• SuretyBonds.Market Proprietary technology platform operated by General Indemnity Group that provides surety bond services to contractors and businesses through a self-service digital experience.

Quantifiable outcome

• AireBeam has grown over 975% since 2022 under current leadership
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered major and core.

• CopperPoint Insurance CompanymajorOthers · 18 May 2026Boston Omaha entered into a definitive agreement to sell General Indemnity Group (GIG) to CopperPoint Insurance Company in May 2026. The all-cash transaction is expected to close before year-end 2026, pending regulatory approvals. GIG reported $27.2 million in revenues for FY2025. The sale represents Boston Omaha's exit from the surety insurance business.
• InfoWest, Inc.coreStrategic or Co-development Partner · 4 April 2022Boston Omaha completed the acquisition of InfoWest, Inc. and Go Fiber LLC in April 2022. InfoWest specializes in wireless broadband and fiber-optic internet services to residents and businesses throughout Utah, Nevada, Arizona, and Colorado. Founded in 1994.
• AireBeamcoreStrategic or Co-development Partner · 1 January 2020AireBeam was acquired by Boston Omaha Corporation in 2020. The company is one of Arizona's fastest growing fiber-to-home and fixed wireless internet service providers, delivering affordable internet to rural communities. Has grown over 975% since acquisition.
• Utah BroadbandcoreStrategic or Co-development Partner · 1 January 2020Boston Omaha acquired Utah Broadband in 2020. Utah Broadband delivers broadband fiber and fixed wireless internet service throughout Utah's Wasatch Range. Secured $23 million ReConnect grant and is deploying fiber through BEAD funding.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Lamar Advertising Company: One of the largest U.S. outdoor advertising operators with a national footprint of static and digital billboards. Directly comparable to Boston Omaha's Link Media Outdoor segment, which operates static vinyl and digital billboards across 16 states in mid- and large-sized markets.
• OUTFRONT Media: Major U.S. out-of-home advertising company operating digital and static billboards, transit advertising, and street furniture. Comparable to Link Media Outdoor's billboard business model, market mix, and route to digitization.
• Clear Channel Outdoor Holdings: Global out-of-home advertising operator with significant U.S. billboard and transit exposure. Directly competes with Link Media Outdoor in mid-sized and large U.S. markets for advertising spend and site acquisition.
• WideOpenWest (WOW!): U.S. broadband provider serving residential and business customers in secondary markets across the Midwest, Southeast, and Texas. Closely comparable to Boston Omaha's Boston Omaha Broadband platform (AireBeam, InfoWest, Utah Broadband) which targets underserved suburban/rural markets with fiber and fixed wireless.
• Cable One: U.S. cable broadband operator focused on smaller cities and rural communities. Highly comparable customer profile (rural/secondary-market residential and SMB) and product mix (high-speed broadband) to Boston Omaha's fiber ISPs.
• Consolidated Communications: U.S. broadband and fiber operator serving residential and business customers across rural and mid-sized markets, with a heavy fiber buildout program. Comparable customer base, technology mix (fiber and fixed wireless), and rural broadband thesis to Boston Omaha Broadband.
• Tokio Marine HCC: Specialty insurance group with a leading U.S. surety franchise. Comparable to Boston Omaha's General Indemnity Group/United Casualty & Surety (A.M. Best 'A-', 50-state licensing, Treasury Circular 570 approval), which is in the process of being sold to CopperPoint.

Broad incumbents

• Frontier Communications Parent: Large U.S. fiber-to-the-home and broadband operator undergoing a major fiber buildout. Overlaps with Boston Omaha's broadband strategy but operates at materially greater scale and across a much larger geographic footprint.
• Berkshire Hathaway: Iconic diversified holding company with operating businesses across insurance, transportation, energy, and specialty manufacturing, plus a large equity investment portfolio. Closest large-scale analog to Boston Omaha's holding-company model, capital allocation philosophy, and use of insurance float to fund operating and investment activities.
• Markel Group: Diversified financial holding company combining specialty insurance with operating businesses and a long-term investment portfolio. Comparable in structure (insurance premiums + operating subsidiaries + investment portfolio) and in capital allocation approach to Boston Omaha's four-segment model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries14 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boston Omaha