FORM 10-Q (MARK ONE) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended June 30, 2026 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto Commission file number 001-38113 BOSTON OMAHA CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware(State or other jurisdiction ofincorporation or organization) 27-0788438(I.R.S. EmployerIdentification No.) 1601 Dodge Street, Suite 3300, Omaha, Nebraska 68102(Address of principal executive offices, Zip Code) (857) 256-0079(Registrant’s telephone number, including area code) Securities registered under Section 12(b) of the Exchange Act: Indicate by check mark whether the registrant (1) hasfiled all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and(2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Largeacceleratedfiler☐ Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:29,546,008shares of ClassA common stock and 580,558 shares of ClassB common stock as of August 12, 2026. BOSTON OMAHA CORPORATIONQUARTERLY REPORT ON FORM 10-QFOR THE PERIOD ENDEDJUNE 30, 2026TABLE OF CONTENTS PagePart I –Financial Information4Item 1. Condensed Consolidated Financial Statements (Unaudited).4Condensed Consolidated Balance Sheets – June 30, 2026 and December 31, 20254Condensed Consolidated Statements of Operations – Three and Six Months Ended June 30, 2026 and 20256Condensed Consolidated Statements of Changes in Stockholders’ Equity – Three and Six Months Ended June 30, 2026and 20257Condensed Consolidated Statements of Cash Flows – Six Months Ended June 30, 2026 and June 30, 20259Notes to Condensed Consolidated Financial Statements11Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.35Item 3. Quantitative and Qualitative Disclosures About Market Risk.55Item 4. Controls and Procedures.55Part II– Other Information57Item 1. Legal Proceedings.57Item 1A. Risk Factors.57Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.57Item 3. Defaults Upon Senior Securities.57Item 4. Mine Safety Disclosures.57Item 5. Other Information.57Item 6. Exhibits.57Exhibit Index58Signatures60References in this Quarterly Report on Form 10-Q to “the Company,” “our Company,” “we,” “us,” “our,” and “Boston Omaha” refer to Boston Omaha Corporation and its consolidated subsidiaries, unless otherwise noted. BOSTON OMAHA CORPORATIONand SUBSIDIARIES Condensed Consolidated Financial StatementsUnaudited For the Six Months Ended June 30, 2026and 2025 BOSTON OMAHA CORPORATIONand SUBSIDIARIES Condensed Consolidated Balance SheetsUnaudited(in thousands, except share data) ASSETS BOSTON OMAHA CORPORATIONand SUBSIDIARIES Condensed Consolidated Balance Sheets (Continued)Unaudited(in thousands, except share data) LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities:Accounts payable and accrued expenses$8,315$8,083Short-term payables for business acquisitions1,3461,361Lease liabilities4,6685,110Current maturities of long-term debt2,4052,387Deferred revenue3,1203,058Liabilities held for sale41,13045,259 BOSTON OMAHA CORPORATIONand SUBSIDIARIES BOSTON OMAHA CORPORATIONand SUBSIDIARIES Condensed Consolidated Statements of Changes in Stockholders' EquityUnaudited(in thousands, except share data) BOSTON OMAHA CORPORATIONand SUBSIDIARIES BOSTON OMAHA CORPORATIONand SUBSIDIARIES CondensedConsolidated Statements of Cash FlowsUnaudited(in thousands, except share data) BOSTON OMAHA CORPORATIONand SUBSIDIARIES CondensedConsolidated Statements of Cash Flows (Continued)Unaudited(in thousands, except share data)