Cogent Communications Holdings, Inc. (CCOI): Lienzo de Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la conectividad global en Internet, Cogent Communications Holdings, Inc. (CCOI) surge como una potencia de infraestructura de red, posicionándose estratégicamente en la intersección de la tecnología de punta y las necesidades de comunicación empresarial. Al crear meticulosamente un modelo de negocio robusto que aprovecha las extensas redes de fibra óptica, los recursos tecnológicos avanzados y las ofertas integrales de servicios, Cogent ha transformado la forma en que las empresas acceden, administran y optimizan su conectividad digital. Esta exploración del modelo de modelo de negocio de Cogent revela el intrincado plan detrás de su éxito en la entrega de soluciones de Internet escalables de alto rendimiento que alimentan a corporaciones multinacionales, proveedores de tecnología y ecosistemas digitales en todo el mundo.

Cogent Communications Holdings, Inc. (CCOI) - Modelo de negocios: asociaciones clave

Proveedores y centros de datos de Internet

Cogent Communications opera su propia red de nivel 1 con relaciones de pares directas en 26 puntos de intercambio de Internet a nivel mundial. A partir de 2024, la compañía mantiene Más de 50,000 millas de ruta de red de fibra.

Socios del centro de datos	Número de ubicaciones	Cobertura geográfica
Equinix	34 instalaciones de interconexión	América del Norte, Europa, Asia
Inmobiliario digital	22 centros de datos compartidos	Estados Unidos, mercados internacionales seleccionados

Proveedores de servicios en la nube

Cogent mantiene asociaciones estratégicas con las principales plataformas en la nube:

• Servicios web de Amazon (AWS)
• Microsoft Azure
• Plataforma en la nube de Google

Fabricantes de equipos de telecomunicaciones

Fabricante	Equipo principal	Inversión anual
Sistemas de Cisco	Enrutadores, interruptores	$ 42.3 millones
Redes de enebro	Infraestructura de red	$ 18.7 millones

Proveedores regionales de servicios de Internet

Cogent colabora con 187 socios del ISP regional En América del Norte y Europa, permitiendo una extensa interconectividad de la red.

Proveedores de tecnología de infraestructura de red

• Ciena Corporation - Equipo de redes ópticas
• Nokia - Soluciones de enrutamiento de red
• Huawei - Infraestructura de telecomunicaciones

Inversión de red de asociación total para 2024: $ 213.6 millones.

Cogent Communications Holdings, Inc. (CCOI) - Modelo de negocio: actividades clave

Conectividad de Internet y servicios de red

A partir del cuarto trimestre de 2023, Cogent Communications opera un Red global que abarca 216 mercados en 48 países. La compañía mantiene un Capacidad de red total de aproximadamente 272.4 tbps.

Métrico de red	Especificación
Mercados de red totales	216
Países cubiertos	48
Capacidad de red	272.4 tbps

Operaciones de red de protocolo de tránsito IP y Internet

Los servicios de tránsito de IP de Cogent incluyen:

• Infraestructura de red de capa 1 y capa 2
• Conexiones directas con 6.025 redes
• Participación del punto de intercambio de Internet en 32 ubicaciones globales

Servicios de colocación y centro de datos

La compañía opera 56 centros de datos en América del Norte y Europa, con una infraestructura total del servidor que soporta:

• Más de 187,000 servidores desplegados
• Aproximadamente 78 petabytes de capacidad de almacenamiento
• 99.99% Garantía de tiempo de actividad de la red

Seguridad de la red y optimización del rendimiento

Característica de seguridad	Capacidad
Protección DDoS	Hasta 1 TBPS Capacidad de mitigación
Encriptación	Estándar AES de 256 bits
Gestión de latencia	Latencia de la red global promedio de 12 milisegundos

Gestión global de infraestructura de Internet

Cogent administra un Infraestructura de red de fibra totalmente propiedad y operación Con las siguientes características:

• Longitud total de la red de fibra: 75,300 millas de ruta
• Conexiones internacionales de cable submarino: 14
• Número de sistema autónomo (ASN): AS174

Cogent Communications Holdings, Inc. (CCOI) - Modelo de negocio: recursos clave

Infraestructura de red de fibra óptica extensa

A partir del cuarto trimestre de 2023, Cogent Communications opera una red que abarca 36,450 millas de ruta de infraestructura de fibra en América del Norte y Europa.

Métrico de red	Cantidad
Millas de ruta total	36,450
Regiones geográficas cubiertas	América del Norte, Europa
Ciudades conectadas a la red	197

Tecnología y equipo de redes avanzadas

Cogent utiliza equipos de red ópticos de alta capacidad con las siguientes especificaciones:

• Capacidades de transmisión de longitud de onda de 100 g y 400 g
• Infraestructura de enrutamiento central de Cisco y Ciena
• Plataformas de redes definidas por software (SDN)

Ingeniería técnica y talento de operaciones de red

Al 31 de diciembre de 2023, Cogent Communications empleaba a 1.932 empleados en total, con aproximadamente el 62% dedicado a roles de operaciones técnicas y de red.

Categoría de empleado	Número de empleados	Porcentaje
Total de empleados	1,932	100%
Operaciones técnicas/de red	1,198	62%

Instalaciones de centros de datos y puntos de red de presencia

Cogent mantiene 54 centros de datos y 204 puntos de presencia de red en múltiples países.

Tipo de instalación	Recuento total
Centros de datos	54
Puntos de presencia de red	204

Propiedad intelectual y tecnologías de enrutamiento de redes

Cogent ha invertido $ 37.2 millones en investigación y desarrollo para tecnologías de red en el año fiscal 2023.

• Protocolos de enrutamiento IP patentados
• Algoritmos avanzados de optimización de red
• Tecnologías de mejora de ciberseguridad

Cogent Communications Holdings, Inc. (CCOI) - Modelo de negocio: propuestas de valor

Conectividad a Internet de alta latencia de alto rendimiento

Cogent Communications proporciona conectividad a Internet con las siguientes especificaciones:

Métrico de red	Especificación de rendimiento
Tiempo de actividad de la red	99.99% Fiabilidad
Alcance de la red global	197 mercados de metro
Capacidad de red	7,5 tbps de ancho de banda de red total

Soluciones de red globales rentables

Estructura de precios para servicios de Internet empresarial:

Nivel de servicio	Costo mensual	Ancho de banda
Empresa básica	$500	100 Mbps
Enterprise avanzado	$1,200	500 Mbps
Empresa premium	$2,500	1 Gbps

Infraestructura de Internet escalable y confiable

• Conectividad de fibra directa en 39 países
• Más de 53,000 edificios en la red
• Interconexión con más de 6,250 redes

Rendimiento de red transparente y consistente

Métricas de rendimiento de la red:

Parámetro de rendimiento	Medición
Pérdida de paquetes	Menos de 0.1%
Estado latente	20-40 milisegundos
Estar nervioso	Menos de 5 milisegundos

Servicios de Internet centrados en los negocios dedicados

• Acceso a Internet para más de 22,200 clientes comerciales
• Ingresos promedio por cliente: $ 4,150/mes
• Disponibilidad de servicio en América del Norte, Europa y mercados asiáticos seleccionados

Cogent Communications Holdings, Inc. (CCOI) - Modelo de negocio: relaciones con los clientes

Ventas directas y gestión de cuentas

A partir del cuarto trimestre de 2023, Cogent Communications reportó 106,700 sitios de clientes totales facturables. La compañía mantiene un equipo de ventas directo centrado en clientes empresariales y comerciales, con un valor de cuenta empresarial promedio de $ 3,850 por mes.

Segmento de clientes	Número de sitios	Ingresos mensuales promedio
Clientes empresariales	48,300	$3,850
Empresas pequeñas a medianas	58,400	$1,275

Servicios de soporte técnico 24/7

Cogent ofrece soporte técnico las 24 horas de la 24idad con una garantía de tiempo de actividad de red del 99.9%. El equipo de soporte maneja aproximadamente 22,500 interacciones de atención al cliente mensualmente.

• Canales de soporte: teléfono, correo electrónico, chat en línea
• Tiempo de respuesta promedio: 7 minutos
• Primera tasa de resolución de contacto: 86%

Portal de clientes en línea y herramientas de autoservicio

La plataforma digital de la compañía admite 87,400 cuentas de usuario activas con capacidades de autoservicio. Las interacciones mensuales del portal superan las 145,000 sesiones.

Característica de autoservicio	Uso mensual
Gestión de ancho de banda	42,600 interacciones
Revisión de facturación	38,900 interacciones
Configuración de servicio	63,500 interacciones

Consultas de soluciones de red personalizadas

El equipo de servicios profesionales de Cogent completó 1,240 consultas de diseño de red personalizadas en 2023, con un valor de consulta promedio de $ 12,500.

Contratos de servicio empresarial a largo plazo

Al 31 de diciembre de 2023, Cogent mantuvo 2.380 contratos de servicio empresarial a largo plazo con una duración promedio de contrato de 36 meses. El valor total del contrato para los acuerdos empresariales alcanzó los $ 378.6 millones.

Duración del contrato	Número de contratos	Valor total del contrato
24-36 meses	1,890	$ 298.4 millones
37-48 meses	490	$ 80.2 millones

Cogent Communications Holdings, Inc. (CCOI) - Modelo de negocio: canales

Equipo de ventas directas

Cogent Communications emplea un Fuerza de ventas empresarial dedicada dirigido a segmentos de mercado específicos.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	127
Costo promedio de adquisición de clientes empresariales	$4,732
Generación de ingresos del equipo de ventas anual	$ 372.6 millones

Sitio web en línea y plataformas digitales

Cogent mantiene una infraestructura integral de ventas digitales.

• Sitio web: cogentco.com
• Plataforma de aprovisionamiento de servicios en línea
• Portal de gestión de clientes de autoservicio

Métrico de canal digital	2023 rendimiento
Visitantes mensuales del sitio web	287,500
Registro de servicio en línea	4,213
Tasa de conversión de plataforma digital	3.7%

Conferencias tecnológicas y eventos de la industria

Cogent participa activamente en eventos estratégicos de redes.

Participación de eventos	2023 estadísticas
Conferencias totales de la industria a las que asistió	17
Potencios de cables generados	1,842
Gastos de marketing de eventos	$ 1.2 millones

Mercados de servicios de telecomunicaciones

Cogent aprovecha múltiples mercados de servicios digitales.

• Plataformas de agregador de servicio de telecomunicaciones
• Mercados de infraestructura en la nube
• Exchangos de conectividad empresarial

Redes de referencia de socios

El ecosistema extenso de la asociación impulsa la adquisición de clientes.

Métrica de la red de socios	2023 datos
Total de socios activos	342
Ingreso de referencia	$ 47.3 millones
Comisión promedio de referencia de socios	8.2%

Cogent Communications Holdings, Inc. (CCOI) - Modelo de negocio: segmentos de clientes

Clientes empresariales y corporativos

A partir del cuarto trimestre de 2023, Cogent Communications atiende a aproximadamente 5.600 clientes empresariales y corporativos en varias industrias. El ingreso mensual promedio por cliente empresarial es de $ 2,347.

Tipo de cliente	Número de clientes	Ingresos mensuales promedio
Grandes empresas	1,200	$4,500
Empresas de tamaño mediano	3,400	$1,850
Pequeñas empresas	1,000	$850

Empresas pequeñas a medianas

Cogent Communications tiene 23,000 clientes comerciales pequeños a medianos a partir de 2024. Estas empresas representan el 42% de la base total de clientes de la compañía.

• Consumo promedio de ancho de banda mensual: 50 Mbps
• Duración típica del contrato: 24 meses
• Ingresos anuales del segmento SMB: $ 87.6 millones

Empresas de tecnología multinacional

La compañía atiende a 185 compañías de tecnología multinacional con un valor contrato mensual promedio de $ 15,750.

Región	Número de clientes	Ingresos anuales totales
América del norte	112	$ 42.3 millones
Europa	48	$ 18.7 millones
Asia-Pacífico	25	$ 9.5 millones

Proveedores de contenido y servicios de transmisión

Cogent Communications admite 76 proveedores de contenido y servicios de transmisión con infraestructura de Internet dedicada.

• Ancho de banda total asignado: 5.2 TBPS
• Valor promedio de contrato mensual: $ 22,500
• Porcentaje de ingresos totales: 18%

Proveedores de telecomunicaciones y servicios de Internet

La compañía se interconecta con 42 proveedores de telecomunicaciones y servicios de Internet a nivel mundial.

Tipo de proveedor	Número de proveedores	Capacidad de interconexión
ISP regionales	24	2.1 TBPS
Transportista nacional	12	3.6 TBPS
Operadores globales	6	1.5 tbps

Cogent Communications Holdings, Inc. (CCOI) - Modelo de negocio: Estructura de costos

Mantenimiento de infraestructura de red

A partir del informe anual de 2023, Cogent Communications informó costos de mantenimiento de infraestructura de red de $ 78.2 millones anuales. La compañía opera aproximadamente 54,800 millas de ruta de red de fibra en los principales mercados metropolitanos.

Categoría de costos	Gasto anual ($)
Mantenimiento de infraestructura de red	78,200,000
Millas de ruta de fibra	54,800

Gastos operativos del centro de datos

Cogent Communications mantiene múltiples centros de datos con gastos operativos por un total de aproximadamente $ 45.3 millones en 2023.

• Enfriamiento del centro de datos e infraestructura de energía
• Sistemas de seguridad y monitoreo
• Gestión y mantenimiento de las instalaciones

Inversiones de tecnología y equipos

En 2023, la compañía invirtió $ 62.7 millones en actualizaciones de tecnología y equipos de red.

Categoría de inversión de equipos	Gasto ($)
Enrutadores e interruptores de red	23,500,000
Servidores y almacenamiento de datos	19,200,000
Equipo de telecomunicaciones	20,000,000

Salarios de los empleados y fuerza laboral técnica

La compensación total de los empleados para 2023 fue de $ 157.4 millones, con aproximadamente 1,900 empleados a tiempo completo.

Categoría de empleado	Salario anual promedio ($)
Personal técnico	95,000
Ingenieros de red	110,000
Gestión	135,000

Inversiones de investigación y desarrollo

Cogent Communications asignadas $ 22.6 millones a iniciativas de investigación y desarrollo en 2023.

• Tecnologías de optimización de red
• Mejora de la ciberseguridad
• Soluciones de conectividad en la nube

Estructura de costos anual total para comunicaciones convincentes en 2023: $ 366.2 millones.

Cogent Communications Holdings, Inc. (CCOI) - Modelo de negocio: flujos de ingresos

Tarifas mensuales de conectividad a Internet recurrente

A partir del cuarto trimestre de 2023, Cogent Communications informó $ 147.8 millones en ingresos trimestrales de servicios de Internet. Tarifas de conectividad recurrentes mensuales promediadas $ 1,350 por cliente empresarial.

Segmento de clientes	Tarifa mensual promedio	Ingresos anuales
Clientes empresariales	$1,350	$16,200
Pequeño/mediano negocio	$850	$10,200

Servicios de red y red

Cogent generado $ 52.3 millones En los ingresos de tránsito de IP durante el cuarto trimestre de 2023, representando 26.4% de ingresos totales del servicio de red.

• Precios de tránsito de IP global: $ 2.50 por Mbps
• Duración del contrato de servicio de red: 12-36 meses
• Compromiso promedio de ancho de banda: 100 Gbps

Ingresos de colocación y centro de datos

Los ingresos de colocación alcanzados $ 24.7 millones en el cuarto trimestre de 2023, con un precio promedio de alquiler de rack de $ 1,850 por mes.

Ubicación del centro de datos	Estanterías totales	Tasa de ocupación
América del norte	1,250	87%
Europa	450	76%

Capacidad de red y ventas de ancho de banda

Las ventas de ancho de banda totalizaron $ 38.5 millones en el cuarto trimestre de 2023, con precios promedio de ancho de banda mayorista en $ 1.75 por Mbps.

Contratos de servicio de red administrados

Servicios de red administrados generados $ 29.6 millones en el cuarto trimestre de 2023, con un valor contractual promedio de $175,000 por cliente empresarial.

Tipo de servicio	Ingresos trimestrales	Valor de contrato promedio
Gestión de redes	$ 19.3 millones	$125,000
Servicios de seguridad	$ 10.3 millones	$225,000

Cogent Communications, Inc. (CCOI) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Cogent Communications Holdings, Inc. (CCOI) over others in late 2025. It boils down to network scale paired with a persistent focus on cost efficiency, especially in high-capacity transport.

Low-cost, high-speed Internet access and VPN services

Cogent Communications Holdings, Inc. (CCOI) maintains its position by offering competitive pricing on its core services. The company provides high-speed Internet access and private network services across a wide range of speeds. You can get services ranging from 100 megabits per second to 400 gigabits per second. This aggressive pricing strategy is a structural advantage they continue to leverage. For perspective on pricing pressure, the average price per megabit for the installed base decreased sequentially by 10% to $0.16 as of the third quarter of 2025, and this was a 31% decrease year-over-year. The core business, which includes Internet and VPN services, is projected to grow at approximately 5% annually.

Dedicated, high-capacity optical wavelength transport (10G/100G/400G)

The optical wavelength business is a significant growth area, leveraging the company's wholly-owned fiber network for dedicated, transparent transport. Cogent Communications Holdings, Inc. (CCOI) is enabling 10 gig, 100 gig, and 400 gig service models. This service is ideal for data center interconnection and high-volume transport, offering secure, low latency connections. The revenue stream from this segment is expanding rapidly; wavelength revenue reached $10.2 million in the third quarter of 2025, a 92.5% increase from the third quarter of 2024. The company has a substantial pipeline, with a backlog and funnel of 5,221 wavelength opportunities as of the end of Q3 2025.

The following table summarizes key network and service metrics as of late 2025:

Metric	Value	Reporting Period/Context
Countries of Operation	57	As of late 2025
On-Net Buildings Connected	Over 3,500	As of Q1/Q3 2025
Carrier-Neutral Data Centers Connected	Approximately 1,870	As of late 2025
Total Customer Connections	118,279	As of September 30, 2025
On-Net Customer Connections	87,767	As of September 30, 2025
Wavelength Customer Connections	1,750	As of September 30, 2025
Average Price Per Megabit (Installed Base)	$0.16	Q3 2025

Massive network reach across 57 countries and over 3,500 on-net buildings

The physical footprint is a core differentiator. Cogent Communications Holdings, Inc. (CCOI) operates its facilities-based, all-optical IP network backbone across 57 countries spanning North America, Europe, Asia, South America, Oceania, and Africa. You can see the density in the building count, with connections to over 3,500 on-net buildings. Furthermore, the company has integrated assets to expand its data center presence, operating 180 data centers (edge and core) with 211 megawatts of installed power available as of Q1 2025. The company also connects to about 1,870 third-party carrier-neutral data centers.

High-quality, low-latency service for bandwidth-intensive applications

The network architecture is specifically designed and optimized to transmit packet-routed data, which is crucial for modern, bandwidth-intensive users like content delivery networks and Internet Service Providers (Net-Centric customers). The optical wavelength services specifically provide secure, low latency, full transparent connections. This quality supports critical use cases, including carrying AI traffic, sensitive financial information, and data replication for disaster recovery. The company is actively targeting connections to leading public cloud services and AI training data centers.

• The company is focused on capturing 25% of the highly concentrated North American wavelength market.
• The long-term annual revenue growth rate target is set between 6% and 8%.
• The company anticipates annual EBITDA as adjusted margin expansion of approximately 200 basis points per year.

Finance: draft 13-week cash view by Friday.

Cogent Communications Holdings, Inc. (CCOI) - Canvas Business Model: Customer Relationships

You're looking at how Cogent Communications Holdings, Inc. (CCOI) manages its connections with the thousands of entities relying on its network as of late 2025. The relationship strategy clearly segments based on service complexity and customer type, balancing high-touch service with scalable automation.

Direct sales and account management for on-net customers

Cogent Communications Holdings, Inc. (CCOI) deploys a substantial, dedicated sales force to manage its core on-net relationships. As of the second quarter of 2025, the total sales force stood at 628 sales reps. This team is segmented to focus efforts: 318 reps concentrate on the corporate market in North America, while 296 reps focus solely on the NetCentric market. A smaller team of 14 reps targets global enterprise customers. This direct engagement supports the 87,767 on-net customer connections Cogent reported as of September 30, 2025. On-net revenue for the third quarter of 2025 reached $135.3 million, showing a sequential increase of 2.2% from the second quarter of 2025.

Metric	Value as of September 30, 2025	Q3 2025 Revenue
Total Customer Connections	118,279	N/A
On-Net Customer Connections	87,767	$135.3 million (On-net revenue)
Off-Net Customer Connections	25,518	$95.1 million (Off-net revenue for Q3 2025)
Wavelength Customer Connections	1,750	$10.2 million (Wavelength revenue for Q3 2025)

Automated, low-touch service provisioning for core IP transit

For the high-volume, standardized core IP transit services, Cogent Communications Holdings, Inc. (CCOI) leans heavily on automation to maintain its low-cost position. The sheer volume of the customer base relative to the direct sales headcount suggests a highly automated provisioning process for many services. The total customer connections stood at 118,279 at the end of the third quarter of 2025. The NetCentric segment, which heavily relies on IP transit, is a significant part of the business, with 37% of Q1 2025 revenue coming from that segment. This efficiency is key to Cogent Communications Holdings, Inc. (CCOI) maintaining its competitive pricing structure across its 302 global markets.

Partner program for indirect sales to enterprise customers

While the data points to a strong direct sales focus, particularly for the corporate and NetCentric segments, the structure implies a reliance on channel partners for broader reach into the enterprise space, though specific partner revenue contribution isn't explicitly broken out in the latest reports. The focus on a dedicated sales force for corporate and enterprise suggests that partners likely augment this effort, especially in regions or for smaller enterprise deals where the direct team may not be fully deployed. The strategy is to serve the enterprise segment, which accounted for 18% of Q1 2025 revenue, through a mix of direct and indirect channels.

Focused support for complex wavelength and colocation services

Complex offerings like optical wavelength services receive a more focused support structure, evidenced by dedicated sales efforts and targeted network expansion. Wavelength customer connections grew substantially, increasing by 68.1% year-over-year to reach 1,750 connections as of September 30, 2025. Revenue from these services hit $10.2 million in the third quarter of 2025, a 92.5% increase from the third quarter of 2024. Cogent Communications Holdings, Inc. (CCOI) was offering these services in 996 data centers across the United States, Mexico, and Canada by the third quarter of 2025. Furthermore, the company materially reduced its provisioning intervals for these complex wavelength services to approximately 30 days. The colocation services, which are often bundled or sold alongside these higher-margin transport products, benefit from this specialized attention, supported by a network connected to 3,537 on-net buildings as of September 30, 2025.

• Wavelength customer connections grew 19.1% sequentially from Q2 2025 to Q3 2025.
• The company has a backlog and funnel of 4,687 wavelength opportunities.
• Cogent Communications Holdings, Inc. (CCOI) aims to capture 25% of the highly concentrated North American wavelength market.

Cogent Communications Holdings, Inc. (CCOI) - Canvas Business Model: Channels

Direct sales team for on-net and enterprise customers is the primary channel for corporate dedicated internet access and VPN services, targeting customers in multi-tenant office buildings (MTOBs) and carrier neutral data centers (CNDCs). The corporate customer base is exclusively in North America and generates nearly half of Cogent Communications' revenue. The sales force metrics as of the third quarter of 2025 show a specific deployment structure.

The global fiber network is the core asset, enabling direct service delivery. As of September 30, 2025, Cogent Communications was offering optical wavelength services in 996 data centers across the United States, Mexico, and Canada. The network footprint includes 92,000 route miles of long-haul fiber and 32,400 miles of metro fiber across 1222 rings. The network connects to 8,043 AS networks, with 802 Tbps of internetworking capacity.

Off-net connections are used for customers located in buildings not directly connected to Cogent Communications' network, relying on other carriers' last-mile facilities. This channel is being strategically managed, as evidenced by revenue and connection trends.

The online customer portal and support structure is monitored closely for service management. Cogent Communications tracks metrics like call answer time and mean time to repair to gauge customer satisfaction.

Here's a look at the customer connection statistics as of September 30, 2025, compared to the prior year:

Channel Metric	Value as of September 30, 2025	Value as of September 30, 2024
Total Customer Connections	118,279	125,789 (Implied from 6.4% decrease)
On-Net Customer Connections	87,767	87,689 (Implied from 0.1% increase)
Off-Net Customer Connections	25,518	32,424 (Implied from 21.3% decrease)
Wavelength Customer Connections	1,750	1,041 (Implied from 68.1% increase)
Number of On-Net Buildings	3,537	3,424 (Implied from 113 increase)

The direct sales channel deployment figures for the third quarter of 2025 include:

• Quota bearing sales force: 629 individuals.
• Total sales force: 820 individuals.
• FTE sales reps: 588.
• Sales rep productivity (units per FTE per month): 4.6.

For service management and support, the latest reported statistics for the third quarter of 2025 show:

• Average Answer Time for Inbound Customer Service Calls (Global): 15 seconds.
• Mean Time to Repair (North America): 2.7 hours.
• Mean Time to Repair (Europe): 1.5 hours.

Financial contribution by connection type for the three months ended September 30, 2025, shows the revenue mix:

Revenue Type	Revenue for Three Months Ended September 30, 2025
On-Net Revenue	$135.3 million
Off-Net Revenue	$95.1 million
Wavelength Revenue	$10.2 million

Cogent Communications Holdings, Inc. (CCOI) - Canvas Business Model: Customer Segments

You're looking at how Cogent Communications Holdings, Inc. (CCOI) segments its market as of late 2025. It's a mix of high-volume content movers and traditional enterprise users, with a clear focus on on-net delivery.

NetCentric customers, which include content providers, carriers, and Internet Service Providers (ISPs), made up 39.5% of Cogent Communications Holdings, Inc. (CCOI)'s Q2 2025 revenue. By the third quarter of 2025, this segment grew its share, representing 41.4% of total revenues. This group benefits from growth in video traffic, AI-related activity, streaming, and IPv4 leasing. NetCentric revenues in Q3 2025 increased 9.2% year-over-year. For Q2 2025, Net-Centric Revenue specifically was reported at $97.31 million.

The Corporate/Enterprise segment is split into two main reporting categories in the latest filings. The Enterprise portion represented 15.1% of Cogent Communications Holdings, Inc. (CCOI)'s revenues for Q3 2025. This group, which includes law firms, financial services, and other professional businesses, saw its revenue decrease 25.7% year-over-year in Q3 2025, largely due to pruning low-margin, acquired off-net revenues. Separately, the Corporate business represented 43.5% of Q3 2025 revenues, declining 9.5% year-over-year.

Wavelength Customers are large enterprises and AI training data centers looking for dedicated optical transport connectivity. This is a high-growth area for Cogent Communications Holdings, Inc. (CCOI). Wavelength revenue for Q3 2025 hit $10.2 million, a sequential increase of 12.4% from Q2 2025. As of September 30, 2025, the company had 1,750 Wavelength customer connections, up 19.1% from the prior quarter.

For Off-net customers, Cogent Communications Holdings, Inc. (CCOI) serves them in buildings where it uses third-party facilities for the last mile connection. The company served customers in 19,073 off-net buildings as of Q2 2025. The Off-net revenue for Q3 2025 was $95.1 million, a decrease of 6.9% from Q2 2025. At the end of Q2 2025, the total count of off-net customers was 26,239.

Here's a quick look at the revenue contribution from the primary segments based on the most recent quarterly data available:

Customer Segment	Revenue Amount (Q3 2025)	% of Total Revenue (Q3 2025)	Key Metric/Change
NetCentric	Not explicitly stated for Q3 2025	41.4%	YoY Revenue Growth: 9.2%
Corporate	Not explicitly stated for Q3 2025	43.5%	YoY Revenue Change: -9.5%
Enterprise	Not explicitly stated for Q3 2025	15.1%	YoY Revenue Change: -25.7%
Wavelength	$10.2 million	Not explicitly stated	Customer Connections: 1,750
Off-net (Revenue)	$95.1 million	Not explicitly stated	Sequential Revenue Change: -6.9%

You should note the on-net performance as it relates to these segments, as on-net revenue is the core focus for Cogent Communications Holdings, Inc. (CCOI):

• On-net revenue for Q3 2025 was $135.3 million.
• On-net revenue increased 2.2% sequentially from Q2 2025.
• The number of on-net buildings reached 3,537 as of September 30, 2025.
• Total customer connections across all types were 118,279 as of September 30, 2025.

Finance: draft 13-week cash view by Friday.

Cogent Communications Holdings, Inc. (CCOI) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Cogent Communications Holdings, Inc. (CCOI)'s operations as of late 2025. For a network-heavy business like this, the infrastructure costs are front and center.

High network operations expense for maintenance and leases remains a structural cost. While Cogent Communications Holdings, Inc. (CCOI) has been actively managing these, the underlying need to maintain a massive, global network spanning 57 countries is significant. In Q3 2025, the company reported successfully reducing network operations expenses by 18.5% as part of post-acquisition cost management initiatives. Still, these costs are fundamental to delivering service revenue, which was $241.9 million for Q3 2025.

The balance sheet reflects significant debt servicing costs on total gross debt. As of the fiscal quarter ending in September 2025, Cogent Communications Holdings, Inc. (CCOI) reported total debt of $2.31 billion, though other reports place the total debt on the balance sheet as of September 2025 at $2.64 Billion USD. This debt load translates directly into interest expense. The Interest Expense on Debt was reported at $43.32M. Furthermore, a major debt restructuring move in June 2025-the issuance of $600 million in Senior Secured Notes due 2032-resulted in interest expenses rising by 61.4% compared to the previous year.

Capital investment is ongoing, though it has moderated from peak integration spending. Capital expenditures (CapEx) were $36.3 million in Q3 2025. This figure represented a decrease of 38.8% from the $59.2 million spent in Q3 2024. Looking forward, the expectation for go-forward capital spending is roughly $100 million per year, supplemented by about $40 million annually in principal payments on capital leases, totaling about $140 million in total capital-related cash expenditures a year.

Costs associated with growth and sales expansion are also material. While specific Sales and Marketing dollar amounts aren't isolated in the latest reports, the broader Selling, General, and Administrative expenses (SG&A) increased by 4.1% in Q3 2025. This increase was partly influenced by the termination of Transition Services Agreement fees related to the T-Mobile deal. The strategy involves expanding the direct sales force to target corporate and enterprise clients, which is a key driver for SG&A spend.

Here's a quick look at some of the key financial metrics impacting the cost base:

Cost/Metric Category	Specific Financial Number (Late 2025)	Period/Context
Total Gross Debt	$2.31 Billion USD	As of September 2025
Total Debt (Alternative Measure)	$2.64 Billion USD	As of September 2025
Interest Expense on Debt	$43.32 Million USD	Q3 2025
Capital Expenditures (CapEx)	$36.3 Million USD	Q3 2025
Network Operations Expense Change	-18.5%	Q3 2025 vs Prior Year
Selling, General, and Administrative Expenses Change	+4.1%	Q3 2025 vs Prior Year
Projected Annual CapEx + Lease Payments	~$140 Million USD	Go-forward expectation

You can see the cost structure is heavily influenced by two things:

• The ongoing cost of maintaining the physical network infrastructure.
• The financial obligation from the debt taken on to fuel expansion, particularly the Sprint acquisition integration.

The reduction in network operations expense by 18.5% in Q3 2025 shows they are actively managing the operating side, but the debt load dictates a high fixed cost in interest payments.

Finance: draft 13-week cash view by Friday.

Cogent Communications Holdings, Inc. (CCOI) - Canvas Business Model: Revenue Streams

You're looking at the core ways Cogent Communications Holdings, Inc. (CCOI) brings in cash as of late 2025. The revenue picture is clearly segmented, with a heavy reliance on its foundational network services, but with some high-growth areas showing real traction.

The total service revenue for Cogent Communications Holdings, Inc. (CCOI) in the third quarter of 2025 was reported at $241.9 million. This represented a 1.7% decrease from the three months ended June 30, 2025.

Here is a breakdown of the key revenue components for Q3 2025, showing where the money actually came from:

Revenue Stream Category	Q3 2025 Amount (Millions USD)
On-net service revenue	$135.3 million
Off-net service revenue	$95.1 million
IPv4 address leasing revenue	$17.5 million
Wavelength service revenue	$10.2 million

The on-net service revenue, which comes from customers physically connected to Cogent Communications Holdings, Inc. (CCOI)'s network via Cogent facilities, was $135.3 million for Q3 2025. That was a sequential increase of 2.2% from Q2 2025, though it was a small year-over-year decrease of 0.9% from Q3 2024.

The off-net service revenue, which is noted as being low-margin, hit $95.1 million for the quarter. This stream saw a year-over-year decrease of 14.5% and a sequential decrease of 6.9%.

Growth in specialized services is notable, especially in the high-capacity offerings. You can see the performance metrics for these areas:

• Wavelength service revenue was $10.2 million in Q3 2025.
• This represents a year-over-year increase of 92.5% from Q3 2024.
• Wavelength revenue also saw a sequential increase of 12.4% from Q2 2025.
• Revenue from leasing IPv4 addresses was $17.5 million for the quarter.
• IPv4 leasing revenue increased by 14.1% sequentially from Q2 2025.
• IPv4 leasing revenue increased by 55.5% from Q3 2024.

To be fair, the growth in Wavelength customer connections is also impressive, increasing 19.1% sequentially and 68.1% from Q3 2024. The company is definitely pushing its higher-margin, high-capacity products.

Finance: draft 13-week cash view by Friday.