COGENT COMMUNICATIONS HOLDINGS, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $975.8M | $1.04B | $939.7M | $599.6M | $589.2M | $571.8M | $540.4M | $520.4M |
| On-Net | — | — | $386.4M | $336.7M | $328.5M | $322.1M | $307.8M | $299.7M |
| Off-Net | — | — | $305.8M | $261.3M | $259.2M | $248.3M | $231.1M | $219.3M |
| Wavelength | — | — | $16.5M | $0 | $0 | $0 | $0 | $0 |
| Non-Core | — | — | $231.1M | $1.6M | $1.5M | $1.4M | $1.5M | $1.4M |
| Cost of Revenue | $535.0M | $641.8M | $544.2M | $228.2M | $226.3M | $219.2M | $219.8M | $219.5M |
| Gross Profit | $440.8M | $394.3M | $395.5M | $371.4M | $362.9M | $352.7M | $320.6M | $300.8M |
| Gross Margin | 45.2% | 38.1% | 42.1% | 61.9% | 61.6% | 61.7% | 59.3% | 57.8% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $274.4M | $275.8M | $275.3M | $163.0M | $162.4M | $158.5M | $146.9M | $133.9M |
| Operating Income | $-101.1M | $-197.6M | $-129.3M | $114.0M | $119.2M | $106.9M | $100.3M | $86.6M |
| Operating Margin | -10.4% | -19.1% | -13.8% | 19.0% | 20.2% | 18.7% | 18.6% | 16.6% |
| Interest Expense | — | $123.3M | $93.3M | $110.7M | $58.1M | $62.5M | $57.5M | $51.1M |
| Pretax Income | $-245.0M | $-259.6M | $1.22B | $26.4M | $71.4M | $10.3M | $52.7M | $41.4M |
| Income Tax Expense | $-62.8M | $-55.6M | $-54.0M | $21.2M | $23.2M | $4.1M | $15.2M | $12.7M |
| Net Income | $-182.2M | $-204.1M | $1.27B | $5.1M | $48.2M | $6.2M | $37.5M | $28.7M |
| Net Margin | -18.7% | -19.7% | 135.5% | 0.9% | 8.2% | 1.1% | 6.9% | 5.5% |
| EPS (Basic) | $-3.80 | $-4.28 | $26.88 | $0.11 | $1.04 | $0.14 | $0.82 | $0.63 |
| EPS (Diluted) | $-3.80 | $-4.28 | $26.62 | $0.11 | $1.03 | $0.13 | $0.81 | $0.63 |
| Shares Outstanding (Basic) | 47.9M | 47.6M | 47.4M | 46.9M | 46.4M | 45.9M | 45.5M | 45.3M |
| Shares Outstanding (Diluted) | 47.9M | 47.6M | 47.8M | 47.2M | 47.0M | 46.7M | 46.1M | 45.8M |
| Dividends Per Share | $3.05 | $3.92 | $3.76 | $3.56 | $3.17 | $2.78 | $2.44 | $2.12 |