Cogent files audited financials for Wireline Business acquisition; shows $863.9M net loss for 2022

COGENT COMMUNICATIONS HOLDINGS, INC.

Wireline Business net loss $863.9M in 2022 (vs. $666.3M in 2021); operating loss $865.6M.
Total wireline revenues $571.3M in 2022, down 7.6% YoY; impairment expense of $477.3M recognized.
Acquisition at $1 purchase price; T-Mobile affiliate to pay $700M for IP transit services over 4.5 years.
Audited statements include parent expense allocations; substantial doubt about going concern noted, with Parent support letter.

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