Cogent Q2 service revenue $260.4M, up 8.6% YoY; net loss $(0.68)/share; dividend raised to $0.985

COGENT COMMUNICATIONS HOLDINGS, INC.

2024-Q2 EPS reported -$2.06 revenue$526,613,000

Service revenue $260.4M, down 2.2% QoQ but up 8.6% YoY; on-net revenue $140.6M (+10.3% YoY).
GAAP net loss per share $(0.68) for Q2 2024 vs. $(1.38) in Q1 2024 and $23.84 income in Q2 2023.
Adjusted EBITDA $106.2M (40.8% margin) vs. $115.0M (43.2%) in Q1 2024 and $54.1M (22.5%) in Q2 2023.
Dividend increased to $0.985/share for Q3 2024, payable Sept 6 to holders of record Aug 22 — 48th consecutive quarterly increase.
Total customer connections fell 15.0% YoY to 128,782; on-net buildings up 159 YoY to 3,386.

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