Business
Cogent Communications Reports Second Quarter 2024 Results and Increases its Regular Quarterly Dividend on its Common Stock
Financial and Business Highlights Service revenue was $239.8 million for Q2 2023 and was $260.4 million for Q2 2024.EBITDA margin was 6.9% for Q1 2024 and
About this update from Cogent Communications Holdings, Inc.
[{"type":"text","content":"Financial and Business Highlights\nService revenue was $239.8 million for Q2 2023 and was $260.4 million for Q2 2024.EBITDA margin was 6.9% for Q1 2024 and 10.4% for Q2 2024.EBITDA, as adjusted for Sprint acquisition costs and cash received under the IP Transit Agreement with T-Mobile was $115.0 million for Q1 2024 and $106.2 million for Q2 2024.Gross margin – Non-GAAP - was 36.7% for Q1 2024 and 40.2% for Q2 2024.Gross margin was 9.9% for Q1 2024 and 11.6% for Q2 2024.Gross leverage ratio was 3.57 for Q1 2024 and was 4.06 for Q2 2024.Net leverage ratio was 3.17 for Q1 2024 and was 3.14 for Q2 2024.Cogent closed its issuance of $206.0 million of its 7.9% IPV4 Securitized Notes on May 2, 2024.Cogent closed its issuance of $300.0 million of its 7.0% Unsecured Notes on June 11, 2024.Cogent purchased 153,322 shares of its common stock for $8.0 million in Q2 2024 under its buyback program.Cogent approved an increase of $0.01 per share to its regular quarterly dividend for a total of $0.985 per share for Q3 2024 as compared to $0.975 per share for Q2 2024 – Cogent's forty-eighth consecutive quarterly dividend increase.WASHINGTON, Aug. 8, 2024 /PRNewswire/ -- Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (\"Cogent\") today announced service revenue of $260.4 million for the three months ended June 30, 2024, a decrease of 2.2% from the three months ended March 31, 2024 and an increase of 8.6% from the three months ended June 30, 2023. Foreign exchange rates negatively impacted service revenue growth from the three months ended March 31, 2024 to the three months ended June 30, 2024 by $0.3 million and negatively impacted service revenue growth from the three months ended June 30, 2023 to the three months ended June 30, 2024 by $0.4 million. On a constant currency basis, service revenue decreased by 2.0% from the three months ended March 31, 2024 to the three months ended June 30, 2024, and increased by 8.8% for the three months ended June 30, 2023 to the three months ended June 30, 2024.\n\n \n \n \n \n \n \n\n \nOn-net service is provided to customers located in buildings that are physically connected to Cogent's network by Cogent facilities. On-net revenue was $140.6 million for the three months ended June 30, 2024, an increase of 1.5% from the three months ended March 31, 2024 and an increase of 10.3% from the three months ended...