0001104659-26-017968
SEC filingCogent 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.
Cogent Communications Holdings, Inc. reported challenging financial results for fiscal year 2025, with service revenue of $975.8 million but a net loss of $182.2 million. The company recorded an operating loss of $101.1 million, driven by total operating expenses of $1.08 billion that included network operations costs of $535.0 million, selling, general and administrative expenses of $274.4 million, depreciation and amortization of $270.2 million, and acquisition costs for the Cogent Fiber Business of $18.5 million. The comprehensive loss was $150.1 million after adjusting for a foreign currency translation gain of $32.1 million. Basic and diluted net loss per common share were both $4.00, while the company declared dividends of $3.00 per common share.
The company's revenue consisted entirely of service revenue totaling $975.8 million for fiscal year 2025. No segment breakdown, geographic mix, or specific growth drivers were disclosed in the provided financial data. The revenue figure represents the total service revenue generated during the period without further categorization or comparative data from prior periods.
The company reported negative profitability across multiple measures. With service revenue of $975.8 million and total operating expenses of $1.08 billion, the operating loss was $101.1 million. The loss before income taxes was $245.0 million, which included interest expense of $161.4 million, loss on debt extinguishment of $5.6 million, offset by gain on bargain purchase of $22.2 million and various interest income totaling $22.9 million. The income tax benefit of $62.8 million reduced the net loss to $182.2 million.
Cash flow from operating activities was negative $10.6 million, primarily due to the net loss of $182.2 million adjusted for non-cash items including depreciation and amortization of $270.2 million. Investing activities used $87.6 million in cash, mainly for purchases of property and equipment of $187.6 million, partially offset by cash receipts from the IP Transit Services Agreement with T-Mobile of $100.0 million. Financing activities provided $62.9 million in cash, including net proceeds from debt issuances of $462.4 million, offset by dividend payments of $150.1 million and debt redemptions of $505.0 million. The balance sheet shows total assets of $3.10 billion, including property and equipment net of $1.72 billion and IPv4 intangible asset of $458.0 million. Total liabilities were $3.16 billion, including secured notes of $969.5 million and senior unsecured 2027 notes of $744.4 million, resulting in stockholders' deficit of $63.8 million.
No forward-looking statements, management guidance, strategic priorities, or specific risk factors were provided in the financial data. The filing contains standard financial statements without accompanying management discussion and analysis that would typically include outlook information.