Q2 2025 Financial Highlights
- Service revenue was $246.2 million for Q2 2025 and was $247.0 million for Q1 2025.
- Wavelength revenue increased by 27.2%, sequentially, and increased by 149.8% from Q2 2024.
- Wavelength revenue was $9.1 million for Q2 2025, $7.1 million for Q1 2025 and $3.6 million for Q2 2024.
- Wavelength customer connections increased by 11.1%, sequentially from Q1 2025 and increased by 94.8% from Q2 2024.
- Revenue from leasing IPv4 addresses increased by 6.3%, from Q1 2025 and increased by 40.1% from Q2 2024.
- Revenue from leasing IPv4 addresses was $15.3 million for Q2 2025, $14.4 million for Q1 2025 and $10.9 million for Q2 2024.
- EBITDA increased by 10.8% to $48.5 million for Q2 2025 from Q1 2025 and increased by 78.8% from $27.1 million for Q2 2024.
- EBITDA margin was 19.7% for Q2 2025, 17.7% for Q1 2025 and was 10.4% for Q2 2024.
- Net cash used in operating activities was $44.0 million for Q2 2025 and $22.2 million for Q2 2024. Net cash provided by operating activities was $36.4 million for Q1 2025.
- EBITDA, as adjusted, increased by 6.9% to $73.5 million for Q2 2025 from Q1 2025.
- EBITDA, as adjusted, margin was 29.8% for Q2 2025 and was 27.8% for Q1 2025.
- Cogent approved an increase of $0.005 per share to its regular quarterly dividend for a total of $1.015 per share for Q3 2025 as compared to $1.010 per share for Q2 2025 – Cogent’s fifty-second consecutive quarterly dividend increase.
- In Q2 2025, Cogent purchased 229,507 shares of its common stock for $11.5 million at an average price of $50.18 per share under its buyback program.
- In July 2025, Cogent purchased 63,487 shares of its common stock for $3.1 million at an average price of $48.13 per share under its buyback program.
- Wavelength revenue increased by 27.2%, sequentially, and increased by 149.8% from Q2 2024.