For the three months

For the six months

ended June 30,

ended June 30,

2026

2025

2026

2025

(in thousands, except per share data)

Numerator:

Net income attributable to SBA

Communications Corporation

$

198,777

$

225,794

$

383,611

$

446,525

Denominator:

Basic weighted-average shares outstanding

106,073

107,531

105,945

107,637

Dilutive impact of stock options, RSUs, and PSUs

191

266

243

331

Diluted weighted-average shares outstanding

106,264

107,797

106,188

107,968

Net income per common share attributable to SBA

Communications Corporation:

Basic

$

1.87

$

2.10

$

3.62

$

4.15

Diluted

$

1.87

$

2.09

$

3.61

$

4.14