Q4 2024 Financial Highlights
- Service revenue was $252.3 million for Q4 2024 and was $257.2 million for Q3 2024.
- Service revenue was $1.0 billion for full year 2024 and was $940.9 million for full year 2023.
- Wavelength revenue increased by 31.8%, sequentially, and was $7.0 million for Q4 2024 and was $5.3 million for Q3 2024.
- Revenue from leasing IPv4 addresses increased by 11.8%, sequentially, and was $12.6 million for Q4 2024 and was $11.2 million for Q3 2024.
- EBITDA increased by 16.7% to $41.9 million for Q4 2024 from Q3 2024.
- EBITDA margin was 16.6% for Q4 2024 and was 13.9% for Q3 2024.
- Net cash provided by operating activities was $14.5 million for Q4 2024. Net cash used in operating activities was $48.7 million for Q4 2023 and was $20.2 million for Q3 2024.
- EBITDA, as adjusted, increased by 9.8% to $66.9 million for Q4 2024 from Q3 2024.
- EBITDA, as adjusted, margin was 26.5% for Q4 2024 and was 23.7% for Q3 2024.
- EBITDA, as adjusted, was $348.4 million for full year 2024 and was $352.5 million for full year 2023.
- EBITDA, as adjusted, margin was 33.6% for full year 2024 and was 37.5% for full year 2023.
- Cogent received a US federal income tax refund of $24.2 million in 2024 for 2023 US federal income taxes paid and owed no US federal income taxes for full year 2023.
- Cogent does not expect a US federal income tax liability for full year 2024.
- Cogent approved an increase of $0.01 per share to its regular quarterly dividend for a total of $1.005 per share for Q1 2025 as compared to $0.995 per share for Q4 2024 – Cogent’s fiftieth consecutive quarterly dividend increase.