---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-011995"
form_type: "8-K"
ticker: "BOC"
cik: "0001494582"
company_name: "BOSTON OMAHA Corp"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:19:54.784395+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Boston Omaha reports 2022 annual letter: billboard revenue $39.2M, broadband subs up 118% to 39.6k

## Summary
- Share price grew 14% CAGR from $10 to $26.50 since 2015; operating businesses generate ~$25M annual cash flow.
- Link Media (billboards) revenue $39.2M (+6.7% organic), 7,600 faces, >30% cash flow return on tangible capital.
- Insurance: controlled premium up 36% to $7.5M; combined ratio 97.2% (expense ratio 82.8%, loss ratio 14.4%).
- Broadband: 39.6k subscribers (up from 18.2k), 4.9k fiber subs, EBITDA $4.4M, >$25M invested in 2022.
- BOAM total assets $156.8M; acquired remaining 50% of 24th Street Asset Management; Sky Harbour stake $108.4M.

## SEC filing metadata
- accession: 0001437749-23-011995
- form_type: 8-K
- ticker: BOC
- cik: 0001494582
- company_name: BOSTON OMAHA Corp
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1494582/000143774923011995/0001437749-23-011995-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1494582/000143774923011995/bomn20230501_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-011995
- JSON: https://secwatch.observer/filing/0001437749-23-011995.json
- Plain text: https://secwatch.observer/filing/0001437749-23-011995.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.