Cogent Communications Holdings, Inc.

Cogent Communications Holdings, Inc. (CCOI) reported a net loss of $182.2 million on service revenue of $975.8 million for fiscal year 2025, ending December 31, 2025. The company generated an operating loss of $101.1 million, driven by total operating expenses of $1.08 billion, which included significant depreciation and amortization of $270.2 million, network operations costs of $535.0 million, and acquisition costs related to the Cogent Fiber Business of $18.5 million. The comprehensive loss was $150.1 million, adjusted for a foreign currency translation gain of $32.1 million. Cash flow from operations was negative $10.6 million, while the company paid $150.1 million in dividends and ended the year with $275.9 million in cash and restricted cash. The balance sheet shows total assets of $3.10 billion against total liabilities of $3.16 billion, resulting in a stockholders' deficit of $63.8 million.

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