Cogent posts Q1 2024 net loss of $1.38/share; service revenue $266.2M; raises quarterly dividend to $0.975/share

COGENT COMMUNICATIONS HOLDINGS, INC.

2023-Q1 EPS reported -$1.38 revenue$266,168,000

Diluted EPS $(1.38) vs $4.17 in Q4 2023; GAAP gross margin 9.9% vs 10.9% in Q4.
Service revenue $266.2M, down 2.2% sequentially; adjusted EBITDA $115.0M (43.2% margin), up from $110.5M.
Quarterly dividend increased to $0.975/share payable June 7, 2024, 47th consecutive increase.
Net cash provided by operating activities improved to $19.2M from $(48.7)M in Q4; gross leverage ratio improved to 3.57x from 4.07x.
Issued $206M of 7.924% IPV4 Securitized Notes on May 2, 2024; T-Mobile IP Transit agreement contributed $87.5M in Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COGENT COMMUNICATIONS HOLDINGS, INC. reported first quarter of 2024 results: revenue $266.2 million.

Period: first quarter of 2024
Revenue: $266.2 million
Result: reported results

Exact text from the filing

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (“Cogent”) today announced service revenue of $266.2 million for the three months ended March 31, 2024, a decrease of 2.2% from the three months ended December 31, 2023 and an increase of 73.3% from the three months ended March 31, 2023.

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Source: SEC EDGAR

accession 0001104659-24-059108

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