Filing Flows › SBA Communications (SBAC) › Q2 2026 › vs Q1 2026
SBA Communications (SBAC) Q2 2026 vs Q1 2026 (quarter over quarter)
SBA Communications's revenue rose $11.8M (+2%) from $703M in Q1 2026 to $715M in Q2 2026. The biggest changes: International Site Leasing +$5.6M (+3%); Site Development +$4.1M (+9%); Domestic Site Leasing +$2.1M (+0.5%). Gross margin 75.4% against 75.6% (-0.2 pts).
SBA Communications, Q2 2026: revenue $715M (+2% year over year), operating margin 49.2%, net earnings $199M, operating cash flow $407M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 75.4% | 75.6% | -0.2 pts |
| Operating margin | 49.2% | 48.7% | +0.5 pts |
| Net margin | 27.8% | 26.3% | +1.5 pts |
| Free cash flow margin | 48.2% | 29.4% | +18.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Domestic Site Leasing | $452M | $450M | $2.1M | +0.5% |
| International Site Leasing | $211M | $206M | $5.6M | +3% |
| Site Development | $51.4M | $47.3M | $4.1M | +9% |
| Revenue | $715M | $703M | $11.8M | +2% |
| Gross profit | $539M | $532M | $7.2M | +1% |
| Cost of revenue | $176M | $171M | $4.7M | +3% |
| Operating profit | $352M | $343M | $9.0M | +3% |
| Operating expenses | $187M | $189M | −$1.8M | -1% |
| Pre-tax earnings | $232M | $236M | −$3.5M | -2% |
| Other expense, net | $119M | $107M | $12.6M | +12% |
| SG&A | $77.5M | $70.5M | $7.0M | +10% |
| Other operating costs | $110M | $119M | −$8.8M | -7% |
| Loss borne by minority interests | $2.3M | −$72K | $2.4M | — |
| Net earnings | $199M | $185M | $13.9M | +8% |
| Income tax | $36.0M | $51.1M | −$15.1M | -30% |
| Depreciation & amortization | $81.4M | $81.3M | $55K | +0.1% |
| Share-based compensation | $26.8M | $18.9M | $7.9M | +42% |
| Working capital & other | $100M | −$30.0M | $130M | — |
| Operating cash flow | $407M | $255M | $152M | +60% |
| Free cash flow (OCF − capex) | $345M | $207M | $138M | +67% |
| Capital expenditures | $62.4M | $48.4M | $14.0M | +29% |
Questions
How much did SBA Communications's revenue grow quarter over quarter in Q2 2026?
SBA Communications's revenue rose $11.8M (+2%) from $703M in Q1 2026 to $715M in Q2 2026.
What drove SBA Communications's revenue change in Q2 2026?
International Site Leasing +$5.6M (+3%); Site Development +$4.1M (+9%); Domestic Site Leasing +$2.1M (+0.5%).