FINHUB Insights

SBAC · Q3 FY25 · Sep 30, 2025

SBA Communications Q3 FY25: where the revenue came from and where it went

SBA Communications Q3 FY25: revenue $0.7B (+10% year over year). Net profit $0.2B. Largest cohort Domestic Site Leasing $0.5B. The whole income statement as a sankey diagram from the SEC filing.

Period
Sep 30, 2025
Reported
Nov 6, 2025 10-Q
Sankey diagram of SBA Communications's income statement for Q3 FY25: revenue of $0.7 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$0.7B +10% year over year
Gross profit$0.5B 74% margin
Operating profit$0.4B 51% margin
Net profit$0.2B 32% margin

The numbers

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
ItemValueShare of revenueYear over year
Revenue 0.7 100% +10%
Domestic Site Leasing 0.5 71% +1%
International Site Leasing 0.2 29% +16%
Site Development Construction 0.1 14% +81%
Cost of revenue−0.229%
Gross profit0.574% margin−3pp
SG&A−0.19%+0pp
Other−0.114%+0pp
Operating profit0.451% margin−5pp
Interest & other costs−0.2
Net profit0.232%−6pp
Filing on EDGAR More quarters of SBAC

Source of the numbers: structured XBRL data from the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.

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