Overview
SBA Communications Corporation is a wireless infrastructure company headquartered in Boca Raton, Florida. Founded in 1989 as a site-development business, it now primarily owns and operates communications towers and other antenna-supporting sites, leasing space to wireless service providers. It also provides site-development services, including site acquisition, permitting and construction. Its stated brand purpose, “Building Better Wireless,” reflects its focus on infrastructure for digital connectivity.[1][2][3]
SBA operates principally in the United States, with additional tower operations in Central America, South America and Africa. It owned 46,328 towers at the end of 2025, generated approximately $2.82 billion in revenue that year and had a reported workforce of about 1,844 people. Site leasing is the dominant part of its business.[2][4][5][6] [2][3][6][4][1][5]
Products & services
SBA Communications’ principal product is **site leasing**: it rents antenna space on multi-tenant towers, rooftops and other wireless infrastructure to carriers and other customers. Leases are arranged for individual sites or under master agreements; typical initial terms are five to 15 years, with renewal options and rent escalators. Its managed-sites service also markets and administers rooftop and other wireless locations for property owners.[7][8][9]
Its U.S. **site development** services cover network pre-design, site audits and location selection, leasing support, zoning and permits, tower and site construction, antenna installation, and radio-equipment installation, commissioning and maintenance. SBA also builds towers for which it retains ownership, including build-to-suit projects at customer-selected locations. Other offerings include neutral-host in-building connectivity using distributed antenna systems (DAS) and small cells, and SBA Edge regional and modular tower-site data centers. Edge capabilities vary by facility; its Jacksonville data center, for example, advertises 2 MW of available power and more than 20 in-house fiber and IP providers.[10][11][12][13][14]
In 2025, domestic and international site leasing generated approximately **91.3% of total revenue**; site development generated the remaining **8.7%**.[15] [7][8][10][11][16][16][16][9][12][13][14][15]
Geographic presence
SBA Communications’ tower portfolio spans the United States and 12 international markets: Brazil, Chile, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Peru, South Africa and Tanzania. At year-end 2025, it had 17,394 domestic towers and 28,934 international towers, including 12,489 in Brazil and 4,535 in Guatemala.[17] Its headquarters is in Boca Raton, Florida.[18]
In 2025, domestic site leasing generated $1.866 billion in revenue, versus $705 million from international site leasing. Sites in the United States and its territories accounted for 72.6% of site-leasing revenue. The company’s site-development business, which generated $244 million, operates only in the United States.[4][19][3] At year-end 2024, 628 of its 1,720 employees were based outside the United States and its territories.[20] [17][4][4][4][19][3][20][18]
Business segments
SBA Communications reports three revenue lines: domestic site leasing, international site leasing and site development. The two site-leasing lines are separately reportable segments within its site-leasing business. They primarily lease antenna space on multi-tenant towers to wireless service providers under long-term contracts; domestic operations are in the United States and its territories, while international operations span parts of Central and South America and Africa.[21][6][22]
Site development, conducted only in the United States, provides consulting and construction-related services for wireless networks, including site selection, permitting, construction, equipment installation and maintenance. In 2025, domestic site leasing contributed approximately 66% of revenue, international site leasing 25%, and site development 9%; these shares are calculated from reported segment revenues of $1.866 billion, $705 million and $244 million, respectively.[3][4] [21][6][22][3][4][4][4][4]
Company history
SBA Communications was founded by Steven E. Bernstein in 1989 as a wireless-site development business. It began expanding into tower ownership in 1997, financing the acquisition and construction of towers, and completed an initial public offering in 1999.[1][23][24][25]
Acquisitions became an important part of SBA’s expansion. In 2012, it agreed to acquire more than 2,300 towers and certain distributed-antenna assets from Mobilitie, as well as 3,252 towers from TowerCo. That year it also entered Brazil through the acquisition of 800 towers from Vivo, followed by further Brazilian tower purchases in 2013 and 2014.[26][27][28][29] SBA adopted real estate investment trust tax treatment beginning with 2016 and completed a related corporate restructuring in 2017. It expanded into South Africa in 2019 through an investment in Atlas Tower South Africa.[30][31][32] [1][23][24][25][26][27][28][29][30][31][32]
Sources
- www.sbasite.com[1]
- SBA COMMUNICATIONS CORP — Full financial report (2025 Y)
- stockanalysis.com[5]
- SBA COMMUNICATIONS CORP — Full financial report (2024 Y)
- www.sbasite.com[9]
- www.sbasite.com[12]
- www.sbaedge.com[13]
- www.sbaedge.com[14]
- www.sec.gov[15]
- www.sbasite.com[18]
- www.sbasite.com[23]
- www.rcrwireless.com[24]
- www.sec.gov[25]
- ir.sbasite.com[26]
- ir.sbasite.com[27]
- www.sec.gov[28]
- ir.sbasite.com[29]
- www.sec.gov[30]
- www.sec.gov[31]
- www.sec.gov[32]
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