Below are the financial statements of Cogent Communications Holdings, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Service revenue | 1,036.1a | 940.92a | 599.6a |
| Operating expenses | — | — | — |
| Network operations (including $1,681, $1,069 and $553 of equity-based compensation expense, respectively), exclusive of amounts shown separately | -641.84a | -544.23a | -228.15a |
| Selling, general, and administrative (including $24,057, $25,855 and $23,886 of equity-based compensation expense, respectively) | -275.78a | -275.32a | -163.02a |
| Acquisition costs - Sprint Business | -21.41a | -18.49a | -2.25a |
| Depreciation and amortization | -298.02a | -232.21a | -92.22a |
| Total operating expenses | -1,237.04a | -1,070.25a | -485.65a |
| Gain on lease termination | 3.33a | 0a | 0a |
| Operating (loss) income | -197.61a | -129.33a | 113.96a |
| Interest expense, including change in valuation - interest rate swap | -123.32a | -93.34a | -110.7a |
| Foreign exchange gain on 2024 Notes | 0a | 0a | 31.56a |
| Loss on debt extinguishment and redemption - 2024 Notes | 0a | 0a | -11.89a |
| Gain on bargain purchase - Sprint Business | 22.2a | 1,406.44a | 0a |
| Interest income - IP Transit Services Agreement | 23.77a | 26.8a | 0a |
| Interest income - Purchase Agreement | 0.75a | 1.89a | 0a |
| Interest income and other | 14.56a | 7.03a | 3.44a |
| (Loss) income before income taxes | -259.65a | 1,219.48a | 26.38a |
| Income tax benefit (expense) | -55.58a | -53.96a | -21.23a |
| Net (loss) income | -204.07a | 1,273.44a | 5.15a |
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