Companies /Communication Services
Cogent Communications Holdings Inc
NASDAQ: CCOI Telecom Services
$8.54
▼ $1.02 (−10.67%) today
Markets closed · 11:29am ET

Cogent Communications (CCOI) Q2 2025 Earnings

Reported Aug 7, 2025, 7:29am ET · SEC source
$-1.21
Miss −2.83%
EPS · est. $-1.18
$246.2M
Miss −0.58%
Revenue · est. $247.7M
−0.1%
Trailing market
CCOI vs S&P since report
4 quarters
Consecutive EPS beats

How Did CCOI Stock React to Q2 2025 Earnings?

% change · around the report
−27%−18%−9%0Aug 7Aug 8report 7:29am ETearnings−0.0%−29.1%
−27%−18%−9%0Aug 7Aug 8earnings−0.0%−29.1%
CCOI −29.1%S&P 500 −0.0%
−27%−18%−9%0Aug 7Aug 8report 7:29am ETearnings+0.3%−29.1%
−27%−18%−9%0Aug 7Aug 8earnings+0.3%−29.1%
CCOI −29.1%NASDAQ +0.3%
−20%0Aug 6Aug 14report 7:29am ETearnings+1.4%−20.3%
−20%0Aug 6Aug 14earnings+1.4%−20.3%
CCOI −20.3%S&P 500 +1.4%
−20%0Aug 6Aug 14report 7:29am ETearnings+1.4%−20.3%
−20%0Aug 6Aug 14earnings+1.4%−20.3%
CCOI −20.3%NASDAQ +1.4%
−19.46%
Day of report
−13.36%
Next session
−3.40%
One week
+2.72%
30 days

S&P 500 over the same 30 days: +2.86%.

Did CCOI Beat Earnings? Q2 2025 Results

No. Cogent Communications reported Q2 2025 earnings of $-1.21 a share on Aug 7, 2025, missing the $-1.18 consensus estimate by 2.8%. Revenue was $246.2M against a $247.7M estimate.

Cogent Communications delivered a disappointing second quarter, missing on both top and bottom lines as the ongoing wind-down of its T-Mobile Commercial Agreement continued to weigh on results. The company posted revenue of $246.25 million, falling short of the $247.67 million consensus by 0.58% and declining 5.5% year-over-year, while a net loss of $1.21 per diluted share came in worse than the $1.18 estimate by 2.83%, pressured by $48.69 million in interest expense and a $5.61 million loss on debt extinguishment tied to the refinancing of its 2026 notes. Bright spots were harder to ignore entirely, with wavelength revenue surging 149.8% year-over-year to $9.06 million and IPv4 leasing revenue climbing 40.1% to $15.32 million, though neither was large enough to offset broader declines in legacy off-net business. Shares fell sharply following the announcement, reflecting investor concern over a net loss that widened 79% from a year ago, even as Cogent raised its quarterly dividend for the 52nd consecutive quarter to $1.01 per share.

Key Takeaways
  • Wavelength revenue grew 149.8% YoY and 27.2% sequentially with customer connections up 94.8% YoY
  • IPv4 address leasing revenue grew 40.1% YoY and 6.3% sequentially
  • EBITDA margin expanded to 19.7% from 10.4% a year ago
  • Non-GAAP gross margin improved to 44.4% from 40.2% YoY
  • On-net buildings grew by 143 YoY to 3,529
  • Wave-enabled data centers expanded to 938 locations
  • Sales rep productivity increased to 4.8 units per FTE per month from 3.8 in Q2 2024

CCOI YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$-200,000,000$0$200.0M$260.4M$246.2MRevenue$104.3M$33.5MGross Profit$-23,605,463$-31,459,000Operating Income$-272,161,017$-57,807,000Net Income
$-200,000,000$0$200.0MRevenueGross ProfitOperating IncomeNet Income
CCOI income statement, Q2 2025 versus Q2 2024
Metric Q2 2025 Q2 2024 Year over year
Revenue $246.2M $260.4M −5.5%
Gross Profit $33.5M $104.3M −67.9%
Operating Income −$31.5M −$23.6M +33.3%
Net Income −$57.8M −$272.2M −78.8%

CCOI Revenue by Segment

On-Net Services$132.3M−6.0%
Corporate Revenue$109.0M−1.5%
Net-Centric Revenue$97.3M+5.1%
Off-Net Services$102.2M−8.3%
Enterprise Revenue$39.9M−8.8%
IPv4 Address Leasing$15.3M+40.1%
Wavelength Services
Optical Wavelength Services$9.1M+149.8%

Figures from SEC filings and company reports. Not investment advice.