Cogent Communications Holdings Inc (NASDAQ: CCOI) shares closed at $17.78, down -32.4% at Thursday’s market close on the NASDAQ, after the company reported fourth-quarter 2025 results below prior-period revenue levels and full-year 2025 declines in key metrics. Intraday, the stock traded down approximately -32% following the release of earnings details. Based on the latest share count and closing price, Cogent’s market capitalization stands near $1.3 billion.
Latest Quarterly Results
For the three months ended December 31, 2025, Cogent Communications reported the following results compared with the same period in 2024:
Service revenue:
Q4 2025: $240.5 million
Q4 2024: $252.1 million
Year-over-year change: −$11.6 million (≈ −4.6%)
Net (loss) attributable to common stockholders:
Q4 2025: $(0.64) per share
Q4 2024: $(0.91) per share
Year-over-year change: +$0.27 per share (reduced loss)
Full-Year Results Context
For the full year ended December 31, 2025, the company reported:
Service revenue: $975.8 million, down from $1,036 million in 2024.
Net (loss) per share: $(3.80) for 2025 vs $(4.28) in 2024.
Directional trends show annual revenue contraction compared with 2024.
Business & Operations Update
Cogent’s financial release noted wavelength revenue growth in Q4 2025 — increasing 18.8% sequentially and 73.7% year-over-year — and expanded wavelength customer connections.
The company also reported increased revenue from leasing IPv4 addresses year-over-year and declines in off-net revenue, consistent with the transition in service mix described in the press release.
Cogent approved a quarterly dividend of $0.02 per share for Q1 2026 and paid four quarterly dividends in 2025 totaling $150.1 million, treated largely as return of capital.
M&A or Strategic Moves
The earnings release did not disclose new merger or acquisition transactions during Q4 2025. The company continues to integrate its Sprint acquisition base and expand services such as wavelength and on-net connectivity.
Equity Analyst Commentary
Institutional research summaries noted that revenue results fell short of consensus estimates for the quarter, while EPS metrics exceeded expectations. This mixed delivery contributed to downward stock pressure following the release.
Guidance & Outlook
The company did not provide forward revenue or earnings guidance in the press release. Investors are directed to weigh future industry and regulatory developments as presented in the earnings call disclosures.
Performance Summary
CCOI stock fell sharply on earnings reaction.
Q4 2025 revenue was $240.5 million.
Full-year 2025 service revenue declined versus 2024.
Wavelength and IPv4 leasing revenues grew year-over-year.
Dividends for 2025 totaled $150.1 million.
The post Cogent Communications Shares Drop After Q4 2025 Revenue Miss first appeared on AlphaStreet News.
