SBAC · 10-Q · 2026Q3 · Full report
Customer Dynamics
SBA COMMUNICATIONS CORP · 2026-11-05 · Importance 66 · Surprise 24 · In source text
SBA expects churn to remain elevated through 2026, with domestic churn representing an estimated $133 million to $136 million of cash site leasing revenue, due in part to Sprint and EchoStar. International churn is estimated at $37 million to $39 million of cash site leasing revenue, due in part to Oi wireline churn. Management also identifies customer consolidation and cessation of specific technologies as the principal exceptions to the historically low level of tenant lease terminations.
Key facts
- For 2026, SBA expects domestic churn to represent $133.0 million to $136.0 million of cash site leasing revenue, partly due to Sprint and EchoStar churn. source
- For 2026, SBA expects international churn to represent $37.0 million to $39.0 million of cash site leasing revenue, partly due to Oi wireline churn. source
- Nine-month 2026 domestic site leasing revenue decreased $43.9 million year over year, primarily due to Sprint, EchoStar, and other lease non-renewals. source
- Domestic site leasing revenue decreased $15.9 million in Q3 2026 versus Q3 2025, primarily due to Sprint, EchoStar, and other lease non-renewals. source
- SBA's tenant leases generally have initial terms of five to fifteen years, with multiple renewal periods at the tenant's option. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | committed | -235.4% | For 2026, SBA expects domestic churn to represent $133.0 million to $136.0 million of cash site leasing revenue, partly due to Sprint and… |
| revenue | negative | committed | -66.5% | For 2026, SBA expects international churn to represent $37.0 million to $39.0 million of cash site leasing revenue, partly due to Oi… |