SBAC · 10-Q · 2026Q2 · Full report

Customer Revenue Concentration

SBA COMMUNICATIONS CORP · 2026-08-06 · Importance 54 · Surprise 24

Domestic site leasing revenue declined $28.1 million for the six months ended June 30, 2026, primarily due to Sprint, EchoStar, and other lease non-renewals. SBA expects domestic churn of $132.0 million to $136.0 million of cash site leasing revenue during 2026, partly due to Sprint and EchoStar churn. International markets are expected to contribute $36.0 million to $40.0 million of cash site leasing revenue churn, partly due to Oi wireline churn. Brazil accounted for 14.0% of total site leasing revenue for the six-month period, while no other individual international market exceeded 5%.

Key facts

• For the three months ended June 30, 2026, total site leasing represented 98.2% of total operating profit compared to 97.4% for the three months ended June 30, 2025. source
• Our site leasing business contributed 98.4% of our total segment operating profit for the six months ended June 30, 2026. source
• As of June 30, 2026, no U.S. state or territory accounted for more than 10% of our total tower portfolio by tower count. source
• As of June 30, 2026, no U.S. state or territory accounted for more than 10% of our total revenues for the six months ended June 30, 2026. source