Link Media Outdoor Reports Q3 2025 Results

Key Highlights:

Revenue and Financials

Link Media Outdoor reported $11.8 million in revenue for Q3 2025, a 2.5% year-over-year increase compared to Q3 2024.

Site lease expenses accounted for 18.2% of revenue, a slight 0.5% decrease from the same period last year, reflecting continued progress in lease management.

Operating Costs and Efficiencies

Depreciation and Amortization:

Depreciation expenses rose by $49,977 (3.8%), while amortization expenses declined by $4,876 (0.5%) from Q3 2024. These impacts are primarily tied to recent capital investments.

Cost of Billboard Revenues:

Billboard operating costs decreased as a percentage of revenue, improving from 35.2% in Q3 2024 to 32.1% in Q3 2025, signaling meaningful gains in operational efficiency.

Commissions:

The percentage of total segment operating revenues paid as commissions dropped from 8.1% to 5.8%, a notable decline that further strengthened overall cost performance.

Operational Insights

Lease Terms:

Link’s average remaining weighted lease term remains strong at 15.8 years, underscoring long-term stability across its asset portfolio.

Billboard Inventory:

As of September 30, 2025, Link operates approximately 4,000 billboards with around 7,570 advertising faces, slightly below the levels reported in September 2024 but consistent with overall network expectations.

Link Media Outdoor delivered steady revenue growth in Q3 2025 while enhancing operational efficiency across key expense categories. Lower site lease, commission, and billboard operating costs demonstrate a disciplined approach to expense management. With long-term lease stability and a robust billboard footprint, Link remains well positioned as the out-of-home advertising market continues to evolve.