Topic: How To Invest

Q: Would you provide your thoughts on the following company—Boston Omaha Corp. (BOMN). Thanks.

Article Excerpt

A: Boston Omaha Corp., $29.14, symbol BOMN on Nasdaq (Shares outstanding: 28.6 billion; Market cap: $845.3 million; www.bostonomaha.com), operates advertising billboards in several U.S. states (through its Link Media Outdoor business), is involved in surety insurance (through General Indemnity), and provides rural broadband services (AireBeam). Formerly known as REO Plus, the company changed its name to Boston Omaha in March 2015. It first sold shares at $13 each in its June 2017 IPO. Mostly due to acquisitions, revenue has grown rapidly since the company went public. Revenue was $9.0 million in 2017, $20.0 million in 2018, $41.4 million in 2019, and $45.7 million in 2020. Over that same period, losses improved from $6.5 million, or $0.60 a share, in 2017, to $9.1 million, or $0.46 a share, in 2018, and to $1.5 million, or $0.07 a share, in 2019. Then, in 2020, the company made its first profit when it earned $500,000, or $0.02 a share. In the three months ended September 30, 2021,…