Cogent Q3 revenue $257.2M (-1.2% QoQ); GAAP loss per share $(1.33); dividend hiked to $0.995

COGENT COMMUNICATIONS HOLDINGS, INC.

2024-Q3 EPS reported -$3.39 revenue$783,813,000

Service revenue $257.2M, down 1.2% sequentially and 6.6% YoY; wavelength revenue rose 45.8% to $5.3M.
GAAP net loss per share $(1.33) vs $(0.68) in Q2; GAAP gross margin fell to 3.8% from 11.6% in Q2.
EBITDA improved 32.2% QoQ to $35.9M; margin 13.9% vs 10.4% in Q2; cash from ops improved to $20.2M.
Board approved Q4 dividend of $0.995/share, up $0.01 QoQ; 49th consecutive quarterly increase, payable Dec 6.
On-net buildings up 167 YoY to 3,424; total customer connections down 8.5% YoY; Com'l Agreement rev $4.1M.

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