NASDAQ$CCOI

Cogent Communications Holdings Inc · Q1 2025 earnings

Q1 2025 earnings · · Before market open · Investor relations

Briefing

Cogent Communications reported Q1 2025, revenue of $247M, net loss of $52M, diluted EPS of $-1.09.

For Q1 2025, Cogent Communications reported revenue of $247M, a net loss of $52M, diluted EPS was $-1.09. Management discusses operating trends, capital, and sector risks in the quarterly filing.

  • Q1 2025 revenue $247M.
  • Net loss $52M.
  • Diluted EPS $-1.09.

Headline financials

Total Revenue

$247M

Previous: $266M-7.2%
EPS (adj)

-$1.09

Previous: -$1.38+21.0%
Total customer connections

120.7K

No prior period
On-Net Buildings

3.5K

No prior period
Wavelength Connections

1.3K

No prior period
IPv4 Revenue

$14.4M

No prior period
IPv4 Addresses Billed

12.9M

No prior period
EBITDA

$43.8M

No prior period
EBITDA Margin

17.7%

No prior period
Non-GAAP Gross Profit

$110M

No prior period
Non-GAAP Gross Margin

44.6%

No prior period
Capital Expenditures

-$58.1M

Previous: -$40.9M-42.1%
Net Income

-$52M

Previous: -$65.3M+20.3%
Operating Income

-$40.3M

Previous: -$59.4M+32.2%
Gross Profit

$33.6M

Previous: $97.2M-65.5%

Revenue & EPS history

Cogent · Revenue · Quarterly

$247M

Q1 2025-7.2%vs Q1 2024
Beat estimate in 4 of 16 quarters(25%)
ActualEstimate

Revenue by segment

Cogent · $246M total across 4 segments · Q2 2025

  • On-net
    $132M
  • Off-net
    $102M
  • Wavelength
    $9.06M
  • Non-core
    $2.68M

Forward guidance

Management discusses operational priorities, capital allocation, and sector risks in the quarterly filing.

Tailwinds

  • Execution on core operating metrics cited in MD&A.
  • Balance sheet liquidity and covenant headroom.
  • Strategic investments supporting long-term growth.

Headwinds

  • Macro demand and input-cost volatility.
  • Regulatory or competitive pressures in the sector.
  • One-time items affecting GAAP comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

-2.6%

Avg return

Earnings day

-3.8%

Avg return

5 days after

-5.1%

Avg return

30 days after

41%

26 / 64 earnings

Positive

+19.3%

Q2 2023

Best reaction

-34.8%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025
Q1 2026-29.4%-28.1%-29.3%
Q4 2025-29.4%-29.7%-31.4%
Q3 2025-34.8%-46.2%-48.8%
Q1 2025-7.3%-3.6%-10.1%
Q4 2024-9.5%-11.0%-23.1%
Q3 2024-1.1%-6.7%-7.7%
Q2 2024+5.9%+6.7%+8.4%
Q1 2024-6.0%-7.7%-13.1%
Q4 2023-2.7%-9.6%-19.1%
Q3 2023-0.8%+2.2%+5.4%
Q2 2023+19.3%+22.3%+15.6%
Q1 2023-9.1%-12.0%-14.3%
Q4 2022-4.4%-1.4%-9.1%
Q3 2022+2.2%+3.0%+9.1%
Q2 2022-8.1%-8.7%-16.7%
Q1 2022-2.4%+3.5%-0.3%
Q4 2021+5.6%+3.4%+1.9%
Q3 2021-2.0%-0.8%-3.5%
Q2 2021+4.6%+2.7%+0.3%
Q1 2021+5.3%+10.2%+9.5%
Q4 2020-3.8%+1.2%+8.4%
Q3 2020-5.6%+2.8%+1.7%
Q2 2020-13.1%-21.1%-22.3%
Q1 2020-7.5%-11.2%-8.5%
Q4 2019-2.6%+8.4%+4.7%
Q3 2019+8.5%+12.9%+7.3%
Q2 2019-8.8%-7.7%-3.1%
Q1 2019+2.3%+2.6%+6.0%
Q4 2018+1.6%-3.2%+3.9%
Q3 2018-3.8%-1.6%-6.7%
Q2 2018-3.8%-4.5%+4.3%
Q1 2018-0.9%+1.1%+4.6%
Q4 2017-1.9%-3.2%-7.3%
Q3 2017-20.4%-14.0%-12.5%
Q2 2017+8.0%+6.4%+15.0%
Q1 2017-7.7%-4.1%-5.1%
Q4 2016+0.2%-2.4%-0.1%
Q3 2016+9.5%+14.4%+2.8%
Q2 2016-13.8%-14.2%-15.4%
Q1 2016+0.7%
Q4 2015+7.0%
Q3 2015+12.2%
Q2 2015-7.4%
Q1 2015-7.8%
Q4 2014-6.5%
Q3 2014+1.4%
Q2 2014-3.7%
Q1 2014-0.5%
Q4 2013-5.7%
Q3 2013+5.1%
Q2 2013+11.4%
Q1 2013+1.8%
Q4 2012+1.6%
Q3 2012-4.9%
Q2 2012+1.8%
Q1 2012-3.6%
Q4 2011+6.6%
Q3 2011+5.2%
Q2 2010-8.7%
Q2 2011-8.7%
Q1 2011+2.2%
Q4 2010-3.3%
Q3 2010+1.8%
Q1 2010+1.5%

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