Following NTIA’s announcement of another round of BEAD, we estimate remaining locations and funding caps based on the latest available data.
Here’s what they found…
- The number of locations still eligible for BEAD has fallen 69% since funding was initially allocated, extending the 65% decline we reported in July 2025. None of this is BEAD’s doing as ISPs have not sat idly by waiting for funding from this program.
- Looking only at the locations that needed BEAD in December 2022, 79% are now served, are no longer serviceable locations, or are covered by a federal program other than BEAD.
- Round One’s projects have been overtaken by this ceaseless buildout. 69% of projects receiving funds via BEAD Round One now have more than a fifth of their locations receiving 100/20 service, and 89% have more than a fifth at 25/3.
- Looking ahead to BEAD Round Two, we estimate that 1,041,099 locations will appear on NTIA’s supplemental lists.
- Further, we estimate that the amount of supplemental funding that will likely be made available by NTIA to serve these locations could be anywhere from $5.3B to $8.8B. An exact figure depends on several variables, notably whether provider matching funds count toward NTIA’s “average cost per location.” Dipping into remaining BEAD will reduce BEAD “savings” by 25% to 42%, leaving $12.2B to $15.7B unspent.