Q1 2022 Financial Highlights
- Effective April 29, 2022 Sean Wallace resigned his position as Cogent’s Chief Financial Officer and will remain with Cogent to assist with the transition through Friday May 6th. Thaddeus ‘’Tad” Weed, Cogent’s Senior Vice President of Audit & Operations, has been appointed to again serve as Cogent’s Chief Financial Officer.
- Cogent approved an increase of $0.025 per share to its regular quarterly dividend for a total of $0.880 per share for Q2 2022 as compared to $0.855 per share for Q1 2022 – Cogent’s thirty-ninth consecutive quarterly dividend increase.
- Service revenue increased from Q4 2021 to Q1 2022 by 1.3% and increased from Q1 2021 to Q1 2022 by 1.6%.
- Net cash provided by operating activities increased from Q4 2021 to Q1 2022 by 37.3% to $49.4 million for Q1 2022 and increased from Q1 2021 to Q1 2022 by 4.9%.
- EBITDA margin decreased by 70 basis points from Q4 2021 to 38.3% for Q1 2022 and increased by 50 basis points from Q1 2021 to Q1 2022.
- EBITDA decreased by 0.4% from Q4 2021 to $57.2 million for Q1 2022 and increased by 2.9% from Q1 2021 to Q1 2022.