Q3 2023 Financial Highlights
- Service revenue increased from Q2 2023 to Q3 2023 by 14.9% to $275.4 million and increased from Q3 2022 to Q3 2023 by 83.6%.
- Service revenue, on a constant currency basis, increased from Q2 2023 to Q3 2023 by 14.9% and increased from Q3 2022 to Q3 2023 by 82.4%.
- Net cash provided by operating activities was $82.7 million for Q2 2023 and net cash used in operating activities was $52.4 million for Q3 2023.
- Net cash used in investing activities was $22.3 million for Q2 2023 and net cash provided by investing activities was $62.1 million for Q3 2023.
- Cash received under an IP Transit Agreement with T-Mobile was $29.2 million for Q2 2023 and was $87.5 million for Q3 2023.
- Net cash used in investing activities was $22.3 million for Q2 2023 and net cash provided by investing activities was $62.1 million for Q3 2023.
- EBITDA was $24.2 million for Q2 2023 and was $43.6 million for Q3 2023.
- EBITDA, as adjusted for Sprint acquisition costs and $29.2 million cash received under an IP Transit Agreement with T-Mobile for Q2 2023 was $54.1 million.
- EBITDA, as adjusted for Sprint acquisition costs and $87.5 million of cash received under an IP Transit Agreement with T-Mobile for Q3 2023 was $131.4 million.
- EBITDA margin for Q2 2023 was 10.1% and was 15.8% for Q3 2023.
- EBITDA, as adjusted for Sprint acquisition costs and cash received under an IP Transit Agreement with T-Mobile margin for Q2 2023 was 22.5% and was 47.7% for Q3 2023.
- Cogent approved an increase of $0.01 per share to its regular quarterly dividend for a total of $0.955 per share for Q4 2023 as compared to $0.945 per share for Q3 2023 – Cogent’s forty-fifth consecutive quarterly dividend increase.
- The Q4 2023 $0.955 dividend per share represents an annual increase of 4.4% from the dividend per share of $0.915 for Q4 2022.
- The 2023 total dividends per share of $3.760 represents an annual increase of 5.8% from the total dividends per share of $3.555 for 2022.