Cogent Communications reports Q3 service revenue of $241.9 million
Cogent Communications Holdings Inc. reported service revenue of $241.9 million for the third quarter of 2025, down 1.7% from $246.2 million in the previous quarter and down 5.9% from $257.2 million in the third quarter of 2024. On-net revenue rose 2.2% sequentially to $135.3 million, while wavelength revenue increased 12.4% from the prior quarter and 92.5% from the previous year to $10.2 million. Adjusted EBITDA was $73.8 million, up 0.4% from the previous quarter and 21.2% from the same period last year. The adjusted EBITDA margin was 30.5%. Net cash provided by operating activities was $3.1 million, compared to net cash used of $44.0 million in the previous quarter. Capital expenditures decreased by 35.5% to $36.3 million from the prior quarter. The company approved a quarterly dividend of $0.02 per share for the fourth quarter of 2025.
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