Q2 2024 Financial Highlights
- Service revenue was $239.8 million for Q2 2023 and was $260.4 million for Q2 2024.
- EBITDA margin was 6.9% for Q1 2024 and 10.4% for Q2 2024.
- EBITDA, as adjusted for Sprint acquisition costs and cash received under the IP Transit Agreement with T-Mobile was $115.0 million for Q1 2024 and $106.2 million for Q2 2024.
- Gross margin – Non-GAAP - was 36.7% for Q1 2024 and 40.2% for Q2 2024.
- Gross margin was 9.9% for Q1 2024 and 11.6% for Q2 2024.
- Gross leverage ratio was 3.57 for Q1 2024 and was 4.06 for Q2 2024.
- Net leverage ratio was 3.17 for Q1 2024 and was 3.14 for Q2 2024.
- Cogent closed its issuance of $206.0 million of its 7.9% IPV4 Securitized Notes on May 2, 2024.
- Cogent closed its issuance of $300.0 million of its 7.0% Unsecured Notes on June 11, 2024.
- Cogent purchased 153,322 shares of its common stock for $8.0 million in Q2 2024 under its buyback program.
- Cogent approved an increase of $0.01 per share to its regular quarterly dividend for a total of $0.985 per share for Q3 2024 as compared to $0.975 per share for Q2 2024 – Cogent’s forty-eighth consecutive quarterly dividend increase.