# SBA COMMUNICATIONS CORP

Summary updated: 2026-10-02T10:47:13.289334Z
Canonical: https://finbar.com/research/companies/sba-communications

## Overview

SBA Communications Corp. is a wireless communications infrastructure company that owns and operates towers and other sites, leasing antenna space to wireless service providers. Its U.S. site-development business also supports carrier network development and maintenance. [1](https://app.finbar.com/go?id=P32071448)[2](https://app.finbar.com/go?id=P49166860) The company’s stated mission is to “Empower wireless connectivity” through shared communications infrastructure. [3](https://www.sbasite.com/company/about-sba/)

At December 31, 2025, SBA owned 46,328 towers, including sites in the United States and 12 international markets across Latin America and Africa. [4](https://app.finbar.com/go?id=P117357726) For the year ended December 31, 2025, revenue was $2.815 billion, and the company reported 1,844 employees at year-end. [5](https://app.finbar.com/go?id=T6945219)[6](https://www.sec.gov/Archives/edgar/data/1034054/000103405426000002/sbac-20251231x10k.htm)
[1](https://app.finbar.com/go?id=P32071448)[2](https://app.finbar.com/go?id=P49166860)[3](https://www.sbasite.com/company/about-sba/)[4](https://app.finbar.com/go?id=P117357726)[5](https://app.finbar.com/go?id=T6945219)[6](https://www.sec.gov/Archives/edgar/data/1034054/000103405426000002/sbac-20251231x10k.htm)[3](https://www.sbasite.com/company/about-sba/)[6](https://www.sec.gov/Archives/edgar/data/1034054/000103405426000002/sbac-20251231x10k.htm)

## Products & services

SBA Communications’ principal offering is wireless-site infrastructure: it owns and operates towers, rooftops and other structures that support wireless antennas, leasing space on those assets to wireless service providers and other customers. It also manages certain tower and rooftop sites for property owners. As of June 30, 2026, SBA reported 46,390 owned towers; many are designed to accommodate multiple tenants. [7](https://app.finbar.com/go?id=P148769934)

The company’s site-leasing arrangements include individual site leases and master lease agreements covering multiple sites. Leases generally have initial terms of 5–15 years, often with tenant renewal options, and rent may increase through fixed annual escalators, inflation-linked escalators, or both. Certain international leases also pass through property-related costs, utilities, taxes and fuel. [8](https://app.finbar.com/go?id=P148769936)[9](https://app.finbar.com/go?id=P148769937)

SBA also provides site-development services in the United States, including network pre-design, site audits, identifying potential locations on existing infrastructure, leasing support, zoning and permitting, tower and site construction, antenna installation, and radio-equipment installation, commissioning and maintenance. These services may be performed at SBA-owned or third-party towers. [10](https://app.finbar.com/go?id=P148769959)

For the six months ended June 30, 2026, revenue was $902.7 million from domestic site leasing, $417.3 million from international site leasing and $98.7 million from site development—approximately 63.6%, 29.4% and 7.0% of total revenue, respectively. Site leasing therefore accounted for about 93.0% of revenue. [11](https://app.finbar.com/go?id=T17077439)
[7](https://app.finbar.com/go?id=P148769934)[8](https://app.finbar.com/go?id=P148769936)[9](https://app.finbar.com/go?id=P148769937)[10](https://app.finbar.com/go?id=P148769959)[11](https://app.finbar.com/go?id=T17077439)

## Geographic presence

SBA Communications’ operations are concentrated in the United States and its territories, with international operations across South and Central America and Africa. Its disclosed international markets include Brazil, Chile, Peru, Ecuador, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, South Africa and Tanzania. Site development is conducted only in the United States. [7](https://app.finbar.com/go?id=P148769934)[10](https://app.finbar.com/go?id=P148769959)[12](https://app.finbar.com/go?id=P148769950)

At June 30, 2026, SBA owned 46,390 towers. Brazil accounted for approximately 30% of its towers and Guatemala approximately 10%; no other international country accounted for more than 5%. [7](https://app.finbar.com/go?id=P148769934)[8](https://app.finbar.com/go?id=P148769936)
[7](https://app.finbar.com/go?id=P148769934)[10](https://app.finbar.com/go?id=P148769959)[12](https://app.finbar.com/go?id=P148769950)[8](https://app.finbar.com/go?id=P148769936)

## Business segments

SBA Communications reports domestic site leasing and international site leasing as its two reportable segments within site leasing, and separately presents site-development revenue and operating results. Site leasing consists of leasing antenna space on multi-tenant towers to wireless providers; international leasing operates in South America, Central America, and Africa. [13](https://app.finbar.com/go?id=P73811817)[2](https://app.finbar.com/go?id=P49166860) Site development is a U.S.-only business providing services such as site identification, zoning and permitting, construction, equipment installation, commissioning, and maintenance. [14](https://app.finbar.com/go?id=P95390241)

In FY2025, domestic site leasing generated $1,865.6 million, approximately 66.3% of consolidated revenue; international site leasing generated $705.0 million, approximately 25.0%; and site development generated $244.5 million, approximately 8.7%, out of $2,815.1 million total revenue. [15](https://app.finbar.com/go?id=T1988781) Percentages are calculated from reported revenue and may not sum precisely due to rounding.
[13](https://app.finbar.com/go?id=P73811817)[2](https://app.finbar.com/go?id=P49166860)[14](https://app.finbar.com/go?id=P95390241)[15](https://app.finbar.com/go?id=T1988781)[15](https://app.finbar.com/go?id=T1988781)[15](https://app.finbar.com/go?id=T1988781)[15](https://app.finbar.com/go?id=T1988781)

## Company history

SBA Communications traces its origins to 1989, when founder Steven E. Bernstein started a wireless-carrier consulting and site-development business. The company was incorporated in Florida in March 1997 and went public in 1999, marking a shift toward growth as a communications-infrastructure owner as well as a service provider. [3](https://www.sbasite.com/company/about-sba/)[16](https://www.sec.gov/Archives/edgar/data/1034054/000119312505074766/ddef14a.htm)[17](https://app.finbar.com/go?id=P27902525)

SBA’s official history dates its first expansion outside the United States to 2009. In 2012, it agreed to acquire 3,252 TowerCo sites in the United States and Puerto Rico for approximately $1.45 billion. In 2024, Brendan Cavanagh succeeded long-serving CEO Jeffrey Stoops, who became non-executive chairman. [3](https://www.sbasite.com/company/about-sba/)[18](https://www.sec.gov/Archives/edgar/data/1034054/000119312512286625/d373101dex991.htm)[19](https://www.sbasite.com/English/Investors-overview/news-events/news-details/2023/SBA-Communications-Corporation-Announces-CEO-Succession-Plan/default.aspx)

In 2025, SBA sold its towers and ended operations in the Philippines and Colombia, and sold substantially all of its Canadian operations. [1](https://app.finbar.com/go?id=P32071448)
[17](https://app.finbar.com/go?id=P27902525)[1](https://app.finbar.com/go?id=P32071448)[3](https://www.sbasite.com/company/about-sba/)[16](https://www.sec.gov/Archives/edgar/data/1034054/000119312505074766/ddef14a.htm)[18](https://www.sec.gov/Archives/edgar/data/1034054/000119312512286625/d373101dex991.htm)[19](https://www.sbasite.com/English/Investors-overview/news-events/news-details/2023/SBA-Communications-Corporation-Announces-CEO-Succession-Plan/default.aspx)

## Sources

1. [SBA COMMUNICATIONS CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P32071448)
2. [SBA COMMUNICATIONS CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P49166860)
3. [www.sbasite.com](https://www.sbasite.com/company/about-sba/)
4. [SBA COMMUNICATIONS CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P117357726)
5. [SBA COMMUNICATIONS CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T6945219)
6. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1034054/000103405426000002/sbac-20251231x10k.htm)
7. [SBA COMMUNICATIONS CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P148769934)
8. [SBA COMMUNICATIONS CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P148769936)
9. [SBA COMMUNICATIONS CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P148769937)
10. [SBA COMMUNICATIONS CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P148769959)
11. [SBA COMMUNICATIONS CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T17077439)
12. [SBA COMMUNICATIONS CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P148769950)
13. [SBA COMMUNICATIONS CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P73811817)
14. [SBA COMMUNICATIONS CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P95390241)
15. [SBA COMMUNICATIONS CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T1988781)
16. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1034054/000119312505074766/ddef14a.htm)
17. [SBA COMMUNICATIONS CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P27902525)
18. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1034054/000119312512286625/d373101dex991.htm)
19. [www.sbasite.com](https://www.sbasite.com/English/Investors-overview/news-events/news-details/2023/SBA-Communications-Corporation-Announces-CEO-Succession-Plan/default.aspx)

AI-generated summary; may contain errors. Not investment advice. Sign up to Finbar to view original document sources and access worldwide fundamental financial data and intelligence.