Flagship explainer

How COGENT COMMUNICATIONS HOLDINGS, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$976M · 100%Cost of revenue$535M · 55%Gross profit$441M · 45%Operating income−$101M · −10%Income before tax−$245M · −25%Income tax−$62.8M · −6%Net income−$182M · −19%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$976M100%
Cost of revenue$535M55%
$441M45%
−$101M−10%
Income before tax−$245M−25%
Income tax−$62.8M−6%
−$182M−19%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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