Filing Flows › Cogent Communications Holdings (CCOI) › Q1 2025
Cogent Communications Holdings (CCOI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Cogent Communications Holdings (CCOI) reported revenue of $247M for the first quarter 2025 (Q1 2025), -7% from a year earlier and -2% from the quarter before. Operating margin was -16.3%, net loss $52.0M (21.1% of revenue).
Cogent Communications Holdings, Q1 2025: revenue $247M (-7% year over year), operating margin -16.3%, net loss $52.0M, operating cash flow $36.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $247M | -2% | -7% |
| Operating profit | −$40.3M | — | — |
| Net earnings | −$52.0M | — | — |
| Operating cash flow | $36.4M | +150% | +89% |
What changed
Revenue was $247.0M in Q1 2025, down 7% year over year and down 2% from the previous quarter. On-net IP was the largest line at 52% of revenue. Off-net IP lost $10.9M year over year (down 9%), 57% of the total change.
Operating costs exceeded revenue by $40.3M, an operating margin of -16.3%. Total costs fell 12% while revenue fell 7%. The quarter ended with a net loss of $52.0M, wider than the previous quarter's $43.3M loss. Net interest and other expense of $30.0M was the main reason.
Operating cash flow was $36.4M (up 89% year over year). Non-cash charges added back $76.0M of depreciation and amortization and $8.0M of share-based compensation. Working capital and other items added $4.3M. Capital expenditures of $58.1M exceeded it, leaving free cash flow of −$21.7M.
Questions
What was Cogent Communications Holdings' revenue in the first quarter 2025?
Cogent Communications Holdings (CCOI) reported revenue of $247M for the first quarter 2025 (Q1 2025), -7% from a year earlier and -2% from the quarter before.
Was Cogent Communications Holdings profitable in the first quarter 2025?
Operating loss was $40.3M (-16.3% of revenue) and net loss $52.0M.