Filing Flows › Cogent Communications Holdings (CCOI) › Q2 2025
Cogent Communications Holdings (CCOI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Cogent Communications Holdings (CCOI) reported revenue of $246M for the second quarter 2025 (Q2 2025), -5% from a year earlier and -0.3% from the quarter before. Operating margin was -12.8%, net loss $57.8M (23.5% of revenue).
Cogent Communications Holdings, Q2 2025: revenue $246M (-6% year over year), operating margin -12.8%, net loss $57.8M, operating cash flow −$44.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $246M | -0.3% | -5% |
| Operating profit | −$31.5M | — | — |
| Net earnings | −$57.8M | — | — |
| Operating cash flow | −$44.0M | -221% | — |
What changed
Revenue was $246.2M in Q2 2025, down 5% year over year and roughly flat from the previous quarter. On-net was the largest line at 54% of revenue. Off-net lost $9.3M year over year (down 8%), 65% of the total change.
Operating costs exceeded revenue by $31.5M, an operating margin of -12.8%. Total costs fell 10% while revenue fell 5%. The quarter ended with a net loss of $57.8M, wider than the previous quarter's $52.0M loss. Net interest and other expense of $43.1M was the main reason.
Operating cash flow was −$44.0M. Non-cash charges added back $75.3M of depreciation and amortization and $4.7M of share-based compensation. Working capital and other items used $66.2M. Capital expenditures of $56.2M exceeded it, leaving free cash flow of −$100.2M.
Questions
What was Cogent Communications Holdings' revenue in the second quarter 2025?
Cogent Communications Holdings (CCOI) reported revenue of $246M for the second quarter 2025 (Q2 2025), -5% from a year earlier and -0.3% from the quarter before.
Was Cogent Communications Holdings profitable in the second quarter 2025?
Operating loss was $31.5M (-12.8% of revenue) and net loss $57.8M.