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Get filing alertsSBA Communications completes Millicom acquisition amid accelerating domestic churn headwinds
Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~1 min read
Key Changes
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Domestic site leasing revenue declined $10.7M in Q1 2026 vs. $0.5M decline in Q1 2025, driven by Sprint and EchoStar churn. Company guides to $132-136M domestic churn through 2026, with operating income down $25.7M year-over-year.
MD&A: Domestic Revenue & Operating Profit verify on EDGAR → -
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Millicom acquisition closed, adding 7,110 international towers. International revenue swung from $11.6M decline in Q1 2025 to $50.6M growth in Q1 2026, with operating profit up $36.5M year-over-year.
MD&A: International Revenue & Millicom verify on EDGAR → -
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Interest expense jumped $24.4M year-over-year after refinancing $750M Tower Securities with higher-cost Revolving Credit Facility borrowings. Revolver utilization increased from $0 to $1.3B at quarter-end.
MD&A: Interest Expense & Debt verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify