Cogent Q4 2025 revenue $240.5M, down 4.7% YoY; EPS -$0.64; adj. EBITDA margin 31.9%

COGENT COMMUNICATIONS HOLDINGS, INC.

2025-FY EPS reported -$3.80 revenue$975,766,000

Service revenue $240.5M in Q4, down 4.7% YoY; full-year 2025 $975.8M vs $1,036.1M in 2024.
Net loss per share $(0.64) for Q4; full-year loss $(3.80).
EBITDA as adjusted $76.7M in Q4, up 14.8% YoY; margin 31.9% vs 26.5%.
Operating cash flow negative $6.0M in Q4 vs positive $14.5M a year ago; full-year negative $10.6M.
Wavelength revenue $12.1M, up 73.7% YoY; board approved $0.02 quarterly dividend for Q1 2026.

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