Form 8-K

8-K — SBA COMMUNICATIONS CORP

Accession: 0001193125-26-191545

Filed: 2026-04-29

Period: 2026-04-29

CIK: 0001034054

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — d49075d8k.htm (Primary)

EX-99.1 (d49075dex991.htm)

GRAPHIC (g49075g0429045817561.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: d49075d8k.htm · Sequence: 1

8-K

SBA COMMUNICATIONS CORP false 0001034054 0001034054 2026-04-29 2026-04-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported) April 29, 2026

SBA Communications Corporation

(Exact Name of Registrant as Specified in its Charter)

Florida

001-16853

65-0716501

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

8051 Congress Avenue

Boca Raton, FL

33487

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (561) 995-7670

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Class A Common Stock, $0.01 par value per share

SBAC

The NASDAQ Stock Market LLC

Indicate by check mark

(NASDAQ Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition.

On April 29, 2026, SBA Communications Corporation issued a press release announcing its financial and operational results for the first quarter ended March 31, 2026, updating its full year 2026 guidance, and announcing its quarterly dividend. A copy of the press release is furnished as Exhibit 99.1.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits

As described in Item 2.02 of this Current Report on Form 8-K, the following exhibits are furnished as part of this Current Report.

Exhibit

No.

Description

99.1

Press release issued by SBA Communications Corporation on April 29, 2026.

104

Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SBA COMMUNICATIONS CORPORATION

By:

/s/ Marc Montagner

Marc Montagner

Executive Vice President and Chief Financial Officer

Date: April 29, 2026

EX-99.1

Filename: d49075dex991.htm · Sequence: 2

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

SBA Communications Corporation Reports First Quarter 2026 Results;

Updates Full Year 2026 Outlook; and Declares Quarterly Cash Dividend

Boca Raton, Florida, April 29, 2026 (BUSINESS NEWSWIRE) — SBA Communications Corporation (Nasdaq: SBAC) (“SBA” or the

“Company”) today reported results for the quarter ended March 31, 2026.

Highlights of the first quarter include:

•

Net income attributable to SBA of $184.8 million or $1.74 per share

•

Industry-leading AFFO per share of $3.03

•

Increased full year 2026 outlook across all key metrics

•

Company-wide Tower Cash Flow margin of approximately 80%

In addition, the Company announced today that its Board of Directors has declared a quarterly cash dividend of $1.25 per share of the Company’s

Class A Common Stock. The distribution is payable June 17, 2026 to the shareholders of record at the close of business on May 22, 2026.

“We had a solid start to 2026, with positive first quarter financial and operating results,” commented Brendan Cavanagh, President and Chief

Executive Officer. “Carrier activity remained steady globally, as our customers continued to focus on expanding and densifying their networks, as well as upgrading sites with new spectrum bands and technologies. In addition, our domestic

leasing backlogs increased during the quarter. These favorable results and positive movement in foreign exchange rates have allowed us to increase our full year outlook for each of our key financial metrics from the levels we provided in late

February. During the quarter, we also continued to invest in expanding our portfolio through new tower builds across our markets, with increasing production particularly under our Central America build to suit agreement with Millicom International.

We anticipate seeing this production grow steadily throughout 2026. Our balance sheet also remains strong as we ended the quarter with net debt to Adjusted EBITDA of 6.6x, in the middle of our target range of 6.0x to 7.0x, notwithstanding the full

removal of all EchoStar revenue from our reported results as of the beginning of the year. Our solid operating results and strong balance sheet have allowed us to continue growing our dividend at the highest pace in the industry. Our declared second

quarter dividend still only represents approximately 41% of AFFO in our 2026 outlook, leaving us with significant capital available for additional investment into the business. Our company continues to perform well, and we are excited about the rest

of 2026.”

Operating Results

The table below details select financial results for the three months ended March 31, 2026 and comparisons to the prior year period.

Q1 2026

Q1 2025

$ Change

% Change

excluding

FX (1)

Consolidated

($ in millions, except per share amounts)

Site leasing revenue

656.1

616.2

39.9

6.5

4.5

Site development revenue

47.3

48.0

(0.7

)

(1.6

Site leasing segment operating profit

(1)

524.2

500.7

23.5

4.7

3.1

Tower cash flow (2)

519.0

497.8

21.2

4.3

2.5

Net cash interest expense

123.3

93.4

29.9

32.1

32.3

Net income (3)

184.9

217.9

(33.0

)

(15.1

(6.7

Earnings per share — diluted

1.74

2.04

(0.30

)

(14.7

(4.7

Adjusted EBITDA (2)

475.4

457.3

18.1

4.0

2.3

AFFO (2)

321.7

343.9

(22.2

)

(6.5

(8.6

AFFO per share (2)

3.03

3.18

(0.15

)

(4.7

(6.9

(1)

Site leasing contributed 98.5% and 98.1% of the Company’s total operating profit in the first quarter of

2026 and 2025, respectively.

(2)

See the reconciliations and other disclosures under “Non-GAAP

Financial Measures” later in this press release.

(3)

Net income includes a $10.1 million gain and $36.0 million gain, net of taxes, on the

currency-related remeasurement of intercompany loans with foreign subsidiaries which are denominated in a currency other than the subsidiaries’ functional currencies for the first quarter of 2026 and 2025, respectively.

The table below details select financial results by segment for the three months ended March 31, 2026 and comparisons to the prior year period.

Q1 2026

Q1 2025

$ Change

% Change

excluding

($ in millions)

Domestic site leasing revenue

450.3

461.0

(10.7

)

(2.3

Domestic cash site leasing revenue

(1)

448.7

459.9

(11.2

)

(2.4

Domestic site leasing segment operating profit

379.7

392.7

(13.0

)

(3.3

Domestic site leasing tower cash flow

(1)

376.5

389.5

(13.0

)

(3.3

Int’l site leasing revenue

205.8

155.2

50.6

32.6

24.8

Int’l cash site leasing revenue

(1)

202.0

155.0

47.0

30.3

22.2

Int’l site leasing segment operating profit

144.5

108.0

36.5

33.8

26.2

Int’l site leasing tower cash flow

(1)

142.5

108.3

34.2

31.6

23.7

(1)

See the reconciliations and other disclosures under “Non-GAAP

Financial Measures” later in this press release.

The table below details key margins for the three months ended March 31, 2026 and comparisons to the

prior year period.

Q1 2026

Q1 2025

Tower Cash Flow Margin (1)

79.8

80.9

Adjusted EBITDA Margin (1)

68.1

69.0

(1)

See the reconciliations and other disclosures under “Non-GAAP

Financial Measures” later in this press release.

Investing Activities

During the first quarter of 2026, SBA acquired 10 communication sites, as well as the rights to land underneath approximately 3,900 communication sites in

Guatemala, for total cash consideration of $133.0 million. SBA also built 80 towers during the first quarter of 2026. As of March 31, 2026, SBA owned or operated 46,358 communication sites, 17,378 of which are located in the United States

and its territories and 28,980 of which are located internationally. In addition, the Company spent $10.4 million to purchase land and easements and to extend lease terms. Total cash capital expenditures for the first quarter of 2026 were

$191.9 million, consisting of $12.7 million of non-discretionary cash capital expenditures (tower maintenance and general corporate) and $179.2 million of discretionary cash capital expenditures

(new tower builds, tower augmentations, acquisitions, and purchasing land and easements).

As of the date of this press release, the Company, subsequent

to quarter end, purchased or is under contract to purchase 56 communication sites for an aggregate consideration of $36.9 million in cash, which it expects to close by the end of the third quarter of 2026.

Financing Activities and Liquidity

SBA ended the first

quarter of 2026 with $13.0 billion of total debt, $10.0 billion of total secured debt, $0.4 billion of cash and cash equivalents, short-term restricted cash, and

short-term investments, and $12.6 billion of Net Debt. SBA’s Net Debt and Net Secured Debt to Annualized Adjusted EBITDA Leverage Ratios were 6.6x and 5.0x, respectively.

On January 9, 2026, the Company, using borrowings from the Revolving Credit Facility, repaid the aggregate principal amount of the 2020-1C Tower Securities ($750.0 million).

As of the date of this press release, the Company had $1.1 billion

outstanding under its $2.0 billion Revolving Credit Facility.

As of the date of this press release, the Company had $1.1 billion of

authorization remaining under its stock repurchase plan.

In the first quarter of 2026, the Company declared and paid a cash dividend of

$135.2 million.

Outlook

The Company is

updating its full year 2026 Outlook for anticipated results. The 2026 Outlook provided is based on a number of assumptions that the Company believes are reasonable at the time of this press release. Information regarding potential risks that could

cause the actual results to differ from these forward-looking statements is set forth below and in the Company’s filings with the Securities and Exchange Commission.

The Company’s full year 2026 Outlook assumes the acquisitions of only those communication sites under

contract which are expected to close in 2026 at the time of this press release. The Company may spend additional capital in 2026 on acquiring revenue producing assets not yet identified or under contract, the impact of which is not reflected in the

2026 Outlook. The 2026 Outlook also does not contemplate any additional repurchases of the Company’s stock or new debt financings during 2026 (other than the refinancing of the 2021-1C Tower Securities

as discussed below), although the Company may ultimately spend capital to repurchase stock or issue new debt during the remainder of the year.

The

Company’s 2026 Outlook assumes an average foreign currency exchange rate of 5.05 Brazilian Reais to 1.0 U.S. Dollar, 2,560 Tanzanian Shillings to 1.0 U.S. Dollar, and 16.40 South African Rand to 1.0 U.S. Dollar throughout the

last three quarters of 2026.

(in millions, except per share amounts)

Full Year 2026

Change from

February 26, 2026

Outlook (7)

Change from

February 26, 2026

Outlook

Excluding FX (7)

Site leasing revenue

2,649.0

2,674.0

24.0

18.0

Site development revenue

190.0

210.0

—

Total revenues

2,839.0

2,884.0

24.0

18.0

Tower Cash Flow (1)

2,092.0

2,112.0

10.0

5.0

Adjusted EBITDA (1)

1,921.0

1,941.0

9.0

5.0

Net cash interest expense (2)(3)

492.0

500.0

—

Non-discretionary cash capital expenditures (4)

67.0

77.0

—

AFFO (1)

1,269.0

1,317.0

9.0

5.0

AFFO per share (1) (5)

11.93

12.38

0.09

0.05

Discretionary cash capital expenditures

(6)

430.0

450.0

—

(1)

See the reconciliation of this non-GAAP financial measure presented

below under “Non-GAAP Financial Measures.”

(2)

Net cash interest expense is defined as interest expense less interest income. Net cash interest expense does

not include amortization of deferred financing fees or non-cash interest expense.

(3)

For purposes of the Outlook, the Company has assumed that the $1,165.0 million 2021-1C Tower Securities (which have an anticipated repayment date of November 9, 2026) would be refinanced prior to the fourth quarter at a fixed rate of 5.25%; however, the Company does not currently have any

specific refinancing plans and the actual date and rate of any refinancing is subject to market conditions.

(4)

Consists of tower maintenance and general corporate capital expenditures.

(5)

Outlook for AFFO per share is calculated by dividing the Company’s outlook for AFFO by an assumed

weighted average number of diluted common shares of 106.4 million. Outlook does not include the impact of any potential future repurchases of the Company’s stock during 2026.

(6)

Consists of new tower builds, tower augmentations, communication site acquisitions and ground lease purchases.

Does not include easements or payments to extend lease terms and expenditures for acquisitions of revenue producing assets not under contract at the date of this press release.

(7)

Changes from prior outlook are measured based on the midpoint of outlook ranges provided.

Bridge of 2025 Total Site Leasing Revenue to 2026 Outlook

The table below presents a bridge of the Company’s 2025 Site Leasing Revenue to the Company’s 2026 Outlook for 2026 Site Leasing Revenue by

reportable segment.

(in millions)

Consolidated

Domestic

International

2025 Total Site Leasing Revenue

$2,571

$1,866

$705

(+) New Leases and Amendments

(+) Escalations

(-) Sprint Consolidation Churn

(56

)

(55

)

(56

)

(55

)

—

(-) EchoStar Churn

(56

)

(56

)

(56

)

(56

)

—

(-) Regular Churn

(64

)

(57

)

(24

)

(21

)

(40

)

(36

)

(+) Non-Organic Revenue (1)

(+ / -) Straight-line Revenue

)

(+ / -) FX

—

(+ / -) Other (2)

)

2026 Total Site Leasing Revenue

2,649

2,674

1,804

1,818

845

856

(1)

Includes contributions from acquisitions and new infrastructure builds.

(2)

Includes pass-through reimbursable expenses, amortization of capital contributions for tower augmentations,

managed and non-macro business and other miscellaneous items.

Conference Call Information

SBA Communications Corporation will host a conference call on Wednesday, April 29, 2026 at 5:00 PM (EDT) to discuss the quarterly results. The

call may be accessed as follows:

When:

Wednesday, April 29, 2026 at 5:00 PM (EDT)

Dial-in Number:

(202) 735-3323

Access Code:

7690149

Conference Name:

SBA First quarter 2026 results

Replay Available:

April 30, 2026 at 12:01 AM to May 29, 2026 at 12:00 AM (TZ: Eastern)

Replay Number:

(833) 370-9994

Internet Access:

www.sbasite.com

Information Concerning Forward-Looking Statements

This press release and the Company’s earnings call include forward-looking statements, including statements regarding the Company’s expectations or

beliefs regarding (i) its outlook for financial and operational performance in 2026, the assumptions it made and the drivers contributing to its full year 2026 Outlook, (ii) the drivers of growth for wireless antennae in the U.S. and in

each of our international markets, the ability of the Company to capitalize on such growth and the impact on the Company’s future financial and operational outlook, (iii) the ability to execute its growth strategies and the impacts to its

financial performance, (iv) the timing of closing for currently pending acquisitions, (v) tower portfolio growth and its long-term growth potential, including the drivers of its organic growth, (vi) its capital allocation policy, including

the use of capital for portfolio growth, share repurchases, and dividends, (vii) the strength of its balance sheet and ability to generate significant free cash flow, (viii) its customers’ ongoing network investments and new spectrum and

future auctions, (ix) domestic and international churn in 2026 and future years, (x) its potential investment grade bond issuance and the benefits of being an investment grade issuer, (xi) mobile edge as a revenue driver, (xii) its leading

position in Central America, and (xiii) backlogs and carrier activity for the remainder of 2026.

The Company wishes to caution readers that these forward-looking statements may be affected by the risks and

uncertainties in the Company’s business as well as other important factors that may have affected and could in the future affect the Company’s actual results and could cause the Company’s actual results for subsequent periods to

differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. With respect to the Company’s expectations regarding all of these statements, including its financial and operational guidance, such

risk factors include, but are not limited to: (1) the impact of macro-economic conditions, including high interest rates, unemployment rates, tariffs, inflation, consumer confidence and financial market volatility on (a) the ability and

willingness of wireless service providers to maintain or increase their capital expenditures, (b) the Company’s business and results of operations, and on foreign currency exchange rates and (c) consumer discretionary income and

demand for wireless services, (2) the Company’s ability to recognize anticipated revenues, tower cash flows and other anticipated benefits from its acquisitions, (3) the economic climate for the wireless communications industry in

general and the wireless communications infrastructure providers in the United States and in the Company’s other international markets; (4) the Company’s ability to accurately identify and manage any risks associated with its

acquired sites, to effectively integrate such sites into its business and to achieve the anticipated financial results; (5) the Company’s ability to secure and retain as many site leasing tenants as planned at anticipated lease rates;

(6) the Company’s ability to manage expenses and cash capital expenditures at anticipated levels; (7) the impact of continued consolidation among wireless service providers in the U.S. and internationally, on the Company’s

leasing revenue, including churn; (8) the Company’s ability to successfully manage the risks associated with international operations, including risks associated with foreign currency exchange rates; (9) the Company’s ability

to secure and deliver anticipated services business at contemplated margins; (10) the Company’s ability to acquire land underneath towers on terms that are accretive; (11) the Company’s ability to obtain future financing at

commercially reasonable rates or at all; (12) the Company’s ability to achieve the new builds targets included in its anticipated annual portfolio growth goals, which will depend, among other things, on obtaining zoning and regulatory

approvals, availability and cost of labor and supplies, and other factors beyond the Company’s control that could affect the Company’s ability to build additional towers in 2026; (13) whether technology upgrades, spectrum auctions,

consumer demand for fixed wireless and other developments will drive demand in the US and in the Company’s other international markets for wireless services, wireless antennas and towers as anticipated; (14) the ability of our customers

to perform under their financial and contractual obligations; and (15) the Company’s ability to meet its total portfolio growth, which will depend, in addition to the new build risks, on the Company’s ability to identify and acquire

sites at prices and upon terms that will provide accretive portfolio growth, competition from third parties for such acquisitions and our ability to negotiate the terms of, and acquire, these potential tower portfolios on terms that meet our

internal return criteria.

With respect to its expectations regarding the ability to close, and realize the benefits of, pending acquisitions, these

factors also include each party satisfactorily completing due diligence, the ability to receive required regulatory approval, the ability and willingness of each party to fulfill their respective closing conditions and their contractual obligations

and, with respect to the Company’s acquisitions, the amount and quality of due diligence that the Company is able to complete prior to closing of any acquisition and the availability of cash on hand or borrowing capacity under the Revolving

Credit Facility to fund the consideration, its ability to accurately anticipate the future performance of the acquired towers and any challenges or costs associated with the integration of such towers. With respect to the repurchases under the

Company’s stock repurchase program, the amount of shares repurchased, if any, and the timing of such repurchases will depend on, among other things, the trading price of the Company’s common stock, which may be positively or negatively

impacted by the repurchase program, market and business conditions, the availability of stock, the Company’s financial performance or determinations following the date of this announcement in order to use the Company’s funds for other

purposes. Furthermore, the Company’s forward-looking statements and its 2026 outlook assumes that the Company continues to qualify for treatment as a REIT for U.S. federal income tax purposes and that the Company’s business is currently

operated in a manner that complies with the REIT rules and that it will be able to continue to comply with and conduct its business in accordance with such rules. In addition, these forward-looking statements and the information in this press

release is qualified in its entirety by cautionary statements and risk factor disclosures contained in the Company’s Securities and Exchange Commission filings, including the Company’s most recently filed Annual Report on Form 10-K.

This press release contains non-GAAP financial measures.

Reconciliation of each of these non-GAAP financial measures and the other Regulation G information is presented below under “Non-GAAP Financial Measures.”

This press release will be available on our website at www.sbasite.com.

About SBA Communications Corporation

SBA Communications

Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 46,000 communications sites

throughout the Americas and in Africa, SBA is listed on NASDAQ under the symbol SBAC. Our organization is part of the S&P 500 and one of the top Real Estate Investment Trusts (REITs) by market capitalization. For more information, please visit:

www.sbasite.com.

Contacts

Louis Friend, CFA

VP, Finance & Capital Markets

561-322-7850

Maria Alexandra Velez

VP, Corporate Affairs

561-981-7352

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited) (in thousands, except per share amounts)

For the three months

ended March 31,

2026

2025

Revenues:

Site leasing

656,149

616,209

Site development

47,289

48,039

Total revenues

703,438

664,248

Operating expenses:

Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):

Cost of site leasing

131,912

115,478

Cost of site development

39,424

38,188

Selling, general, and administrative expenses

(1)

70,548

66,219

Acquisition and new business initiatives related adjustments and expenses

8,090

7,379

Asset impairment and decommission costs

29,300

37,026

Depreciation, accretion, and amortization

81,316

65,048

Total operating expenses

360,590

329,338

Operating income

342,848

334,910

Other income (expense):

Interest income

5,207

10,780

Interest expense

(128,529

)

(104,148

)

Non-cash interest expense

(772

)

(8,348

)

Amortization of deferred financing fees

(5,259

)

(5,434

)

Other income, net

22,519

32,165

Total other expense, net

(106,834

)

(74,985

)

Income before income taxes

236,014

259,925

Provision for income taxes

(51,112

)

(42,019

)

Net income

184,902

217,906

Net (gain) loss attributable to noncontrolling interests

(72

)

2,826

Net income attributable to SBA Communications Corporation

184,830

220,732

Net income per common share attributable to SBA

Communications Corporation:

Basic

1.75

2.05

Diluted

1.74

2.04

Weighted-average number of common shares

Basic

105,815

107,744

Diluted

106,111

108,140

(1)

Includes non-cash compensation of $18,286 and $15,075 for the three

months ended March 31, 2026 and 2025, respectively.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par values)

March 31,

2026

December 31,

2025

ASSETS

(unaudited)

Current assets:

Cash and cash equivalents

269,064

264,568

Restricted cash

58,773

167,804

Accounts receivable, net

161,474

171,256

Costs and estimated earnings in excess of billings on uncompleted contracts

23,326

28,152

Prepaid expenses and other current assets

254,856

141,651

Total current assets

767,493

773,431

Property and equipment, net

3,415,936

3,401,799

Intangible assets, net

2,880,040

2,882,117

Operating lease

right-of-use assets, net

2,678,715

2,540,229

Acquired and other

right-of-use assets, net

1,332,453

1,325,443

Other assets

646,207

651,993

Total assets

11,720,844

11,575,012

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND SHAREHOLDERS’ DEFICIT

Current Liabilities:

Accounts payable

63,549

73,034

Accrued expenses

85,444

93,502

Current maturities of long-term debt

2,683,531

1,935,802

Deferred revenue

103,650

117,309

Accrued interest

38,753

65,036

Current lease liabilities

304,960

299,604

Other current liabilities

65,803

94,014

Total current liabilities

3,345,690

2,678,301

Long-term liabilities:

Long-term debt, net

10,276,200

10,964,466

Long-term lease liabilities

2,151,367

2,119,258

Other long-term liabilities

613,488

588,244

Total long-term liabilities

13,041,055

13,671,968

Redeemable noncontrolling interests

85,744

78,262

Shareholders’ deficit:

Preferred stock - par value $0.01, 30,000 shares authorized, no shares issued or

outstanding

—

Common stock - Class A, par value $0.01, 400,000 shares authorized, 106,063 shares and

105,666 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively

1,061

1,057

Additional paid-in capital

3,084,883

3,059,427

Accumulated deficit

(7,200,856

)

(7,249,905

)

Accumulated other comprehensive loss, net

(636,733

)

(664,098

)

Total shareholders’ deficit

(4,751,645

)

(4,853,519

)

Total liabilities, redeemable noncontrolling interests, and shareholders’ deficit

11,720,844

11,575,012

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited) (in thousands)

For the three months

ended March 31,

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

184,902

217,906

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation, accretion, and amortization

81,316

65,048

Gain on remeasurement of U.S. denominated intercompany loans

(16,260

)

(54,641

)

Non-cash compensation expense

18,936

15,713

Non-cash asset impairment and decommission costs

26,934

35,726

Deferred and non-cash income tax provision

25,445

35,682

Loss on sale of assets

18,785

Other non-cash items reflected in the Statements of

Operations

13,957

19,998

Changes in operating assets and liabilities, net of acquisitions:

Accounts receivable and costs and estimated earnings in excess of billings on uncompleted

contracts, net

15,958

10,399

Prepaid expenses and other assets

(740

)

(4,642

)

Operating lease

right-of-use assets, net

39,053

33,080

Accounts payable and accrued expenses

(13,056

)

(8,537

)

Accrued interest

(25,701

)

(26,941

)

Long-term lease liabilities

(35,053

)

(32,787

)

Other liabilities

(60,644

)

(23,614

)

Net cash provided by operating activities

255,085

301,175

CASH FLOWS FROM INVESTING ACTIVITIES:

Acquisitions

(143,496

)

(63,388

)

Capital expenditures

(48,397

)

(46,173

)

Proceeds from sale of assets

2,176

40,428

(Purchase) proceeds from sale of investments, net

(107,129

)

187,464

Repayment of loan from unconsolidated joint venture

—

115,000

Other investing activities

4,935

Net cash (used in) provided by investing activities

(296,771

)

238,266

CASH FLOWS FROM FINANCING ACTIVITIES:

Net borrowings under Revolving Credit Facility

810,000

—

Repayment of Tower Securities

(750,000

)

(1,165,000

)

Payment of dividends on common stock

(135,195

)

(122,275

)

Other financing activities

5,581

5,140

Net cash used in financing activities

(69,614

)

(1,282,135

)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

6,791

6,143

NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH

(104,509

)

(736,551

)

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:

Beginning of period

437,021

1,400,657

End of period

332,512

664,106

Selected Capital Expenditure Detail

For the three months

ended March 31,

2026

2025

(in thousands)

Construction and related costs

25,533

19,775

Augmentation and tower upgrades

10,141

12,165

Non-discretionary capital expenditures:

Tower maintenance

11,254

12,340

General corporate

1,469

1,893

Total non-discretionary capital expenditures

12,723

14,233

Total capital expenditures

48,397

46,173

Communication Site Portfolio Summary

Domestic

International

Total

Sites owned at December 31, 2025

17,394

28,934

46,328

Sites acquired during the first quarter

—

Sites built during the first quarter

Sites decommissioned/reclassified/sold during the first quarter

(31

)

(29

)

(60

)

Sites owned at March 31, 2026

17,378

28,980

46,358

Segment Operating Profit and Segment Operating Profit Margin

Domestic site leasing and International site leasing are the two segments within our site leasing business. Segment operating profit is a key business metric

and one of our two measures of segment profitability. The calculation of Segment operating profit for each of our segments is set forth below.

Domestic Site Leasing

Int’l Site Leasing

Site Development

For the three months

ended March 31,

For the three months

ended March 31,

For the three months

ended March 31,

2026

2025

2026

2025

2026

2025

(in thousands)

Segment revenue

450,301

460,994

205,848

155,215

47,289

48,039

Segment cost of revenues (excluding depreciation, accretion, and amort.)

(70,621

)

(68,272

)

(61,291

)

(47,206

)

(39,424

)

(38,188

)

Segment operating profit

379,680

392,722

144,557

108,009

7,865

9,851

Segment operating profit margin

84.3

85.2

70.2

69.6

16.6

20.5

Non-GAAP Financial Measures

The press release contains non-GAAP financial measures including (i) Cash Site Leasing Revenue, Tower Cash Flow,

and Tower Cash Flow Margin; (ii) Adjusted EBITDA, Annualized Adjusted EBITDA, and Adjusted EBITDA Margin; (iii) Funds from Operations (“FFO”), Adjusted Funds from Operations (“AFFO”), and AFFO per share;

(iv) Net Debt, Net Secured Debt, Leverage Ratio, and Secured Leverage Ratio (collectively, our “Non-GAAP Debt Measures”); and (v) certain financial metrics after eliminating the impact of

changes in foreign currency exchange rates (collectively, our “Constant Currency Measures”).

We have included these non-GAAP financial measures because we believe that they provide investors additional tools in understanding our financial performance and condition.

Specifically, we believe that:

(1) Cash Site Leasing Revenue and Tower Cash Flow are useful indicators of the performance of our site leasing operations;

(2) Adjusted EBITDA is useful to investors or other interested parties in evaluating our financial performance. Adjusted EBITDA is the primary measure used by

management (1) to evaluate the economic productivity of our operations and (2) for purposes of making decisions about allocating resources to, and assessing the performance of, our operations. Management believes that Adjusted EBITDA helps

investors or other interested parties meaningfully evaluate and compare the results of our operations (1) from period to period and (2) to our competitors, by excluding the impact of our capital structure (primarily interest charges from

our outstanding debt) and asset base (primarily depreciation, amortization and accretion) from our financial results. Management also believes Adjusted EBITDA is frequently used by investors or other interested parties in the evaluation of REITs. In

addition, Adjusted EBITDA is similar to the measure of current financial performance generally used in our debt covenant calculations. Adjusted EBITDA should be considered only as a supplement to net income computed in accordance with GAAP as a

measure of our performance;

(3) FFO, AFFO and AFFO per share, which are metrics used by our public company peers in the communication site industry,

provide investors useful indicators of the financial performance of our business and permit investors an additional tool to evaluate the performance of our business against those of our two principal competitors. FFO, AFFO, and AFFO per share are

also used to address questions we receive from analysts and investors who routinely assess our operating performance on the basis of these performance measures, which are considered industry standards. We believe that FFO helps investors or other

interested parties meaningfully evaluate financial performance by excluding the impact of our asset base (primarily depreciation, amortization and accretion and asset impairment and decommission costs). We believe that AFFO and AFFO per share help

investors or other interested parties meaningfully evaluate our financial performance as they include (1) the impact of our capital structure (primarily interest expense on our outstanding debt) and (2) sustaining capital expenditures and

exclude the impact of (1) our asset base (primarily depreciation, amortization and accretion and asset impairment and decommission costs) and (2) certain non-cash items, including straight-lined

revenues and expenses related to fixed escalations and rent free periods and the non-cash portion of our reported tax provision. GAAP requires rental revenues and expenses related to leases that contain

specified rental increases over the life of the lease to be recognized evenly over the life of the lease. In accordance with GAAP, if payment terms call for fixed escalations, or rent free periods, the revenue or expense is recognized on a

straight-lined basis over the fixed, non-cancelable term of the contract. We only use AFFO as a performance measure. AFFO should be considered only as a supplement to net income computed in accordance with

GAAP as a measure of our performance and should not be considered as an alternative to cash flows from operations or as residual cash flow available for discretionary investment. We believe our definition of FFO is consistent with how that term is

defined by the National Association of Real Estate Investment Trusts (“NAREIT”) and that our definition and use of AFFO and AFFO per share is consistent with those reported by the other communication site companies;

(4) Our Non-GAAP Debt Measures provide investors a more complete understanding of our net debt and leverage position

as they include the full principal amount of our debt which will be due at maturity and, to the extent that such measures are calculated on Net Debt are net of our cash and cash equivalents, short-term restricted cash, and short-term investments;

and

(5) Our Constant Currency Measures provide management and investors the ability to evaluate the performance of the business without the impact of

foreign currency exchange rate fluctuations.

In addition, Tower Cash Flow, Adjusted EBITDA, and our Non-GAAP Debt

Measures are components of the calculations used by our lenders to determine compliance with certain covenants under our Senior Credit Agreement and indentures relating to our 2020 Senior Notes and 2021 Senior Notes. These non-GAAP financial measures are not intended to be an alternative to any of the financial measures provided in our results of operations or our balance sheet as determined in accordance with GAAP.

Financial Metrics after Eliminating the Impact of Changes In Foreign Currency Exchange Rates

We eliminate the impact of changes in foreign currency exchange rates for each of the financial metrics listed in the table below by dividing the current

period’s financial results by the average monthly exchange rates of the prior year period, and by eliminating the impact of the remeasurement of our intercompany loans. The table below provides the reconciliation of the reported year-over-year

change of each of such measures to the change after eliminating the impact of changes in foreign currency exchange rates to such measure.

First quarter

2026 year

over year

change

Foreign

currency

impact

Change excluding

foreign

currency impact

Total site leasing revenue

6.5

2.0

4.5

Total cash site leasing revenue

5.8

2.0

3.8

Int’l cash site leasing revenue

30.3

8.1

22.2

Total site leasing segment operating profit

4.7

1.6

3.1

Int’l site leasing segment operating profit

33.8

7.6

26.2

Total site leasing tower cash flow

4.3

1.8

2.5

Int’l site leasing tower cash flow

31.6

7.9

23.7

Net cash interest expense

32.1

(0.2

32.3

Net income

(15.1

(8.4

(6.7

Earnings per share — diluted

(14.7

(10.0

(4.7

Adjusted EBITDA

4.0

1.7

2.3

AFFO

(6.5

2.1

(8.6

AFFO per share

(4.7

2.2

(6.9

Cash Site Leasing Revenue, Tower Cash Flow, and Tower Cash Flow Margin

The table below sets forth the reconciliation of Cash Site Leasing Revenue and Tower Cash Flow to their most comparable GAAP measurement and Tower Cash Flow

Margin, which is calculated by dividing Tower Cash Flow by Cash Site Leasing Revenue.

Domestic Site Leasing

Int’l Site Leasing

Total Site Leasing

For the three months

ended March 31,

For the three months

ended March 31,

For the three months

ended March 31,

2026

2025

2026

2025

2026

2025

(in thousands)

Site leasing revenue

450,301

460,994

205,848

155,215

656,149

616,209

Non-cash straight-line leasing revenue

(1,640

)

(1,050

)

(3,875

)

(231

)

(5,515

)

(1,281

)

Cash site leasing revenue

448,661

459,944

201,973

154,984

650,634

614,928

Site leasing cost of revenues (excluding depreciation, accretion, and amortization)

(70,621

)

(68,272

)

(61,291

)

(47,206

)

(131,912

)

(115,478

)

Non-cash straight-line ground lease expense

(1,566

)

(2,182

)

1,823

514

257

(1,668

)

Tower Cash Flow

376,474

389,490

142,505

108,292

518,979

497,782

Tower Cash Flow Margin

83.9

84.7

70.6

69.9

79.8

80.9

Forecasted Tower Cash Flow for Full Year 2026

The table below sets forth the reconciliation of forecasted Tower Cash Flow set forth in the Outlook section to its most comparable GAAP measurement for the

full year 2026:

Full Year 2026

(in millions)

Site leasing revenue

2,649.0

2,674.0

Non-cash straight-line leasing revenue

(13.5

)

(8.5

)

Cash site leasing revenue

2,635.5

2,665.5

Site leasing cost of revenues (excluding depreciation, accretion, and amortization)

(536.0

)

(551.0

)

Non-cash straight-line ground lease expense

(7.5

)

(2.5

)

Tower Cash Flow

2,092.0

2,112.0

Adjusted EBITDA, Annualized Adjusted EBITDA, and Adjusted EBITDA Margin

The table below sets forth the reconciliation of Adjusted EBITDA to its most comparable GAAP measurement.

For the three months

ended March 31,

2026

2025

(in thousands)

Net income

184,902

217,906

Non-cash straight-line leasing revenue

(5,515

)

(1,281

)

Non-cash straight-line ground lease expense

257

(1,668

)

Non-cash compensation

18,936

15,713

Other income, net

(22,519

)

(32,165

)

Acquisition and new business initiatives related adjustments and expenses

8,090

7,379

Asset impairment and decommission costs

29,300

37,026

Interest income

(5,207

)

(10,780

)

Total interest expense (1)

134,560

117,930

Depreciation, accretion, and amortization

81,316

65,048

Provision for taxes (2)

51,268

42,183

Adjusted EBITDA

475,388

457,291

Annualized Adjusted EBITDA (3)

1,901,552

1,829,164

(1)

Total interest expense includes interest expense, non-cash interest

expense, and amortization of deferred financing fees.

(2)

Includes franchise and gross receipts taxes reflected in the Statements of Operations in selling, general and

administrative expenses.

(3)

Annualized Adjusted EBITDA is calculated as Adjusted EBITDA for the most recent quarter multiplied by four.

The calculation of Adjusted EBITDA Margin is as follows:

For the three months

ended March 31,

2026

2025

(in thousands)

Total revenues

703,438

664,248

Non-cash straight-line leasing revenue

(5,515

)

(1,281

)

Total revenues minus non-cash straight-line leasing

revenue

697,923

662,967

Adjusted EBITDA

475,388

457,291

Adjusted EBITDA Margin

68.1

69.0

Forecasted Adjusted EBITDA for Full Year 2026

The table below sets forth the reconciliation of the forecasted Adjusted EBITDA set forth in the Outlook section to its most comparable GAAP measurement for

the full year 2026:

Full Year 2026

(in millions)

Net income

771.0

824.0

Non-cash straight-line leasing revenue

(13.5

)

(8.5

)

Non-cash straight-line ground lease expense

(7.5

)

(2.5

)

Non-cash compensation

86.0

81.0

Other income, net

(57.0

)

(57.0

)

Acquisition and new business initiatives related adjustments and expenses

27.0

22.0

Asset impairment and decommission costs

149.5

144.5

Interest income

(23.0

)

(13.0

)

Total interest expense (1)

545.5

527.5

Depreciation, accretion, and amortization

331.0

321.0

Provision for taxes (2)

112.0

102.0

Adjusted EBITDA

1,921.0

1,941.0

(1)

Total interest expense includes interest expense, non-cash interest

expense, and amortization of deferred financing fees.

(2)

Includes projections for franchise taxes and gross receipts taxes, which will be reflected in the Statement of

Operations in Selling, general, and administrative expenses.

Funds from Operations (“FFO”), Adjusted Funds from Operations

(“AFFO”), and AFFO per share

The tables below set forth the reconciliations of FFO, AFFO, and AFFO per share

to their most comparable GAAP measurement.

For the three months

ended March 31,

2026

2025

(in thousands)

($ per share)

(in thousands)

($ per share)

Net income

184,902

1.74

217,906

2.02

Real estate related depreciation, amortization, and accretion

79,541

0.75

63,853

0.59

Asset impairment and decommission costs

29,300

0.28

37,026

0.34

FFO

293,743

2.77

318,785

2.95

Adjustments to FFO:

Non-cash straight-line leasing revenue

(5,515

)

(0.05

)

(1,281

)

(0.01

)

Non-cash straight-line ground lease expense

257

—

(1,668

)

(0.02

)

Non-cash compensation

18,936

0.18

15,713

0.15

Adjustment for non-cash portion of tax provision and other

tax adjustments (1)

33,640

0.32

36,409

0.34

Non-real estate related depreciation, amortization, and

accretion

1,775

0.02

1,195

0.01

Amortization of deferred financing costs and debt discounts and

non-cash interest expense

6,031

0.06

13,782

0.13

Other income, net

(22,519

)

(0.23

)

(32,165

)

(0.31

)

Acquisition and new business initiatives related adjustments and expenses

8,090

0.08

7,379

0.07

Non-discretionary cash capital expenditures

(12,723

)

(0.12

)

(14,233

)

(0.13

)

AFFO

321,715

3.03

343,916

3.18

Adjustments for joint venture partner interest

(2,151

)

(0.02

)

(1,727

)

(0.02

)

AFFO attributable to SBA Communications Corporation

319,564

3.01

342,189

3.16

Diluted weighted average number of common shares

106,111

108,140

(1)

The three months ended March 31, 2026 includes $5.8 million in taxes related to the sale of

substantially all of our operations in Canada. We believe that these tax payments are nonrecurring, and do not believe these are an indication of our operating performance. Accordingly, we believe it is more meaningful to present AFFO and AFFO

attributable to SBA Communications Corporation excluding these amounts.

Forecasted AFFO for the Full Year 2026

The tables below set forth the reconciliations of the forecasted AFFO and AFFO per share set forth in the Outlook section to their most comparable GAAP

measurements for the full year 2026:

(in millions, except per share amounts)

Full Year 2026

(in millions)

($ per share)

Net income

771.0

824.0

7.25

7.74

Real estate related depreciation, amortization, and accretion

319.5

314.5

3.00

2.96

Asset impairment and decommission costs

149.5

144.5

1.41

1.36

FFO

1,240.0

1,283.0

11.66

12.06

Adjustments to FFO:

Non-cash straight-line leasing revenue

(13.5

)

(8.5

)

(0.13

)

(0.08

)

Non-cash straight-line ground lease expense

(7.5

)

(2.5

)

(0.07

)

(0.02

)

Non-cash compensation

86.0

81.0

0.81

0.76

Adjustment for non-cash portion of tax provision and other

tax adjustments (1)

37.0

0.35

Non-real estate related depreciation, amortization, and

accretion

11.5

6.5

0.11

0.06

Amortization of deferred financing costs and debt discounts and

non-cash interest expense

22.5

0.21

Other income, net

(57.0

)

(57.0

)

(0.54

)

(0.54

)

Acquisition and new business initiatives related adjustments and expenses

27.0

22.0

0.25

0.21

Non-discretionary cash capital expenditures

(77.0

)

(67.0

)

(0.72

)

(0.63

)

AFFO

1,269.0

1,317.0

11.93

12.38

Adjustments for joint venture partner interest

(4.0

)

(4.0

)

(0.04

)

(0.04

)

AFFO attributable to SBA Communications Corporation

1,265.0

1,313.0

11.89

12.34

Diluted weighted average number of common shares

(2)

106.4

(1)

Includes $9.0 million in taxes related to the sale of substantially all of our operations in Canada. We

believe that these tax payments are nonrecurring, and do not believe these are an indication of our operating performance. Accordingly, we believe it is more meaningful to present AFFO and AFFO attributable to SBA Communications Corporation

excluding these amounts.

(2)

Weighted average number of common shares does not contemplate any additional repurchases of the Company’s

stock during 2026.

Net Debt, Net Secured Debt, Leverage Ratio, and Secured Leverage Ratio

Net Debt is calculated using the notional principal amount of outstanding debt. Under GAAP policies, the notional principal amount of the Company’s

outstanding debt is not necessarily reflected on the face of the Company’s financial statements.

The Net Debt and Leverage calculations are as

follows:

March 31,

2026

(in thousands)

2020-2C Tower Securities

600,000

2021-1C Tower Securities

1,165,000

2021-2C Tower Securities

895,000

2021-3C Tower Securities

895,000

2022-1C Tower Securities

850,000

2024-1C Tower Securities

1,450,000

2024-2C Tower Securities

620,000

Revolving Credit Facility

1,285,000

2024 Term Loan

2,254,000

Total secured debt

10,014,000

2020 Senior Notes

1,500,000

2021 Senior Notes

1,500,000

Total unsecured debt

3,000,000

Total debt

13,014,000

Leverage Ratio

Total debt

13,014,000

Less: Cash and cash equivalents, short-term restricted cash and short-term investments

(439,898

)

Net debt

12,574,102

Divided by: Annualized Adjusted EBITDA

1,901,552

Leverage Ratio

6.6x

Secured Leverage Ratio

Total secured debt

10,014,000

Less: Cash and cash equivalents, short-term restricted cash and short-term investments

(439,898

)

Net Secured Debt

9,574,102

Divided by: Annualized Adjusted EBITDA

1,901,552

Secured Leverage Ratio

5.0x

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Document and Entity Information

Apr. 29, 2026

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

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Balance Type:

Period Type:

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

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Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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