Cogent Communications Holdings, Inc., through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, South America, Europe, Oceania, and Africa. It offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers. The company also provides Internet access and private network services to customers that are not located in buildings directly connected to its network; and on-net services to customers located in buildings that are physically connected to its network. In addition, it offers off-net services to corporate customers using other carriers' circuits to provide the last mile portion of the link from the customers' premises to the network. Further, the company operates data centers that allow its customers to collocate their equipment and access the network. It serves primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations. Cogent Communications Holdings, Inc. was founded in 1999 and is headquartered in Washington, the District of Columbia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $976M | $187M | $-182M | $-198M | 285.3% | -5.8% | -10.7% |
| 2024 | $1.0B | $162M | $-204M | $-204M | -91.6% | 10.1% | -116.0% |
| 2023 | $941M | $1.5B | $1.3B | $-112M | 208.9% | 56.9% | 24646.2% |
| 2022 | $600M | $229M | $5M | $95M | -1.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 599.60 | 940.92 | 1,036.10 | 975.77 |
| Operating Revenue | - | 599.60 | 940.92 | 1,036.10 | 975.77 |
| Cost Of Revenue | - | 228.15 | 544.23 | 641.84 | 534.96 |
| Gross Profit | - | 371.45 | 396.69 | 394.27 | 440.80 |
| Operating Expense | - | 255.24 | 507.53 | 573.80 | 544.62 |
| Selling General And Administration | - | 163.02 | 275.32 | 275.78 | 274.44 |
| Total Expenses | - | 483.40 | 1,051.76 | 1,215.64 | 1,079.58 |
| Operating Income | - | 116.21 | -110.84 | -179.53 | -103.81 |
| Total Operating Income As Reported | - | 113.96 | -129.33 | -197.61 | -101.07 |
| EBITDA | - | 229.30 | 1,545.03 | 161.69 | 186.58 |
| Normalized EBITDA | - | 211.87 | 157.09 | 157.56 | 189.44 |
| EBIT | - | 137.07 | 1,312.82 | -136.33 | -83.60 |
| Interest Income | - | 3.44 | 35.72 | 39.07 | 23.08 |
| Interest Expense | - | 110.70 | 93.34 | 123.32 | 161.36 |
| Net Interest Income | - | -107.26 | -57.63 | -84.24 | -138.29 |
| Other Income Expense | - | 17.43 | 1,387.94 | 4.13 | -2.87 |
| Interest Income Non Operating | - | 3.44 | 35.72 | 39.07 | 23.08 |
| Interest Expense Non Operating | - | 110.70 | 93.34 | 123.32 | 161.36 |
| Net Non Operating Interest Income Expense | - | -107.26 | -57.63 | -84.24 | -138.29 |
| Pretax Income | - | 26.38 | 1,219.48 | -259.65 | -244.96 |
| Tax Provision | - | 21.23 | -53.96 | -55.58 | -62.79 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 3.66 | 291.47 | 0.88 | -0.73 |
| Net Income Continuous Operations | - | 5.15 | 1,273.44 | -204.07 | -182.17 |
| Net Income From Continuing And Discontinued Operation | - | 5.15 | 1,273.44 | -204.07 | -182.17 |
| Net Income From Continuing Operation Net Minority Interest | - | 5.15 | 1,273.44 | -204.07 | -182.17 |
| Net Income | - | 5.15 | 1,273.44 | -204.07 | -182.17 |
| Net Income Common Stockholders | - | 5.15 | 1,273.44 | -204.07 | -182.17 |
| Net Income Including Noncontrolling Interests | - | 5.15 | 1,273.44 | -204.07 | -182.17 |
| Normalized Income | - | -8.62 | 176.97 | -207.32 | -180.04 |
| Diluted NI Availto Com Stockholders | - | 5.15 | 1,273.44 | -204.07 | -182.17 |
| Basic Average Shares | - | 46.88 | 47.37 | 47.63 | 47.93 |
| Diluted Average Shares | - | 47.21 | 47.84 | 47.63 | 47.93 |
| Reconciled Depreciation | - | 92.22 | 232.21 | 298.02 | 270.18 |
| Reconciled Cost Of Revenue | - | 228.15 | 544.23 | 641.84 | 534.96 |
| Total Unusual Items | - | 17.43 | 1,387.94 | 4.13 | -2.87 |
| Total Unusual Items Excluding Goodwill | - | 17.43 | 1,387.94 | 4.13 | -2.87 |
| Special Income Charges | - | -14.13 | 1,387.94 | 4.13 | -2.87 |
| Other Special Charges | 7.30 | 11.88 | - | -3.33 | 2.87 |
| Restructuring And Mergern Acquisition | - | 2.25 | -1,387.94 | -0.80 | 0 |
| Gain On Sale Of Security | 23.51 | 31.56 | 13.44 | - | - |
| Depreciation Amortization Depletion Income Statement | - | 92.22 | 232.21 | 298.02 | 270.18 |
| Depreciation And Amortization In Income Statement | - | 92.22 | 232.21 | 298.02 | 270.18 |
| General And Administrative Expense | 162.38 | 163.02 | - | - | - |
| Other Gand A | 162.38 | 163.02 | - | - | - |
| Gain On Sale Of Ppe | 0.02 | 0 | - | - | - |
| Selling And Marketing Expense | 162.38 | 163.02 | - | - | - |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cogent Communications Holdings, Inc.this co. | CCOI | $866M | -4.75 | -13.56 | 285.3% | 18.11 |
| Sinclair, Inc. | SBGI | $1.0B | -8.94 | 2.26 | -25.3% | 9.48 |
| Emerald Holding, Inc. | EEX | $988M | -32.17 | 2.91 | -9.1% | 23.98 |
| Shenandoah Telecommunications Company | SHEN | $880M | -26.72 | 1.00 | -3.7% | 12.98 |
| Entravision Communications Corporation |
| 2021 | - | - | - | - | - | - | - |
| EVC |
| $835M |
| -10.54 |
| 15.06 |
| -142.8% |
| -14.35 |
| NXDR | NXDR | $820M | - | 1.90 | -12.6% | - |
| Scholastic Corporation | SCHL | $803M | -422.50 | 0.85 | -0.2% | 10.00 |
| Groupon, Inc. | GRPN | $704M | -8.43 | -16.54 | 196.2% | -60.11 |
| QuinStreet, Inc. | QNST | $681M | 144.74 | 2.79 | 1.9% | 19.33 |
| Peer Median | - | -10.54 | 2.08 | -6.4% | 10.00 | |