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Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and Gogo Inc. (GOGO). Click either name above to swap in a different company.
COGENT COMMUNICATIONS HOLDINGS, INC. is the larger business by last-quarter revenue ($240.5M vs $230.6M, roughly 1.0× Gogo Inc.). Gogo Inc. runs the higher net margin — -4.3% vs -12.8%, a 8.5% gap on every dollar of revenue. On growth, Gogo Inc. posted the faster year-over-year revenue change (67.3% vs -4.7%). Gogo Inc. produced more free cash flow last quarter ($-25.4M vs $-43.0M). Over the past eight quarters, Gogo Inc.'s revenue compounded faster (48.7% CAGR vs -4.9%).
Cogent Communications Holdings, Inc. is a multinational internet service provider based in the United States. Cogent's primary services consist of Internet access and data transport, offered on a fiber optic, IP data-only network, along with colocation in data centers.
Gogo Inc. is an American provider of in-flight broadband Internet service and other connectivity services for business aircraft, headquartered in Broomfield, Colorado. Through its Gogo LLC subsidiary, Gogo previously provided in-flight WiFi to 17 airlines until the Commercial Air business was sold to Intelsat for $400 million in December 2020. According to Gogo, over 2,500 commercial aircraft and 6,600 business aircraft have been equipped with its onboard Wi-Fi services. The company is the de...
CCOI vs GOGO — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $230.6M |
| Net Profit | $-30.8M | $-10.0M |
| Gross Margin | 46.6% | — |
| Operating Margin | -4.7% | 6.2% |
| Net Margin | -12.8% | -4.3% |
| Revenue YoY | -4.7% | 67.3% |
| Net Profit YoY | 28.9% | 64.6% |
| EPS (diluted) | $-0.63 | $-0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $240.5M | $230.6M | ||
| Q3 25 | $241.9M | $223.6M | ||
| Q2 25 | $246.2M | $226.0M | ||
| Q1 25 | $247.0M | $230.3M | ||
| Q4 24 | $252.3M | $137.8M | ||
| Q3 24 | $257.2M | $100.5M | ||
| Q2 24 | $260.4M | $102.1M | ||
| Q1 24 | $266.2M | $104.3M |
| Q4 25 | $-30.8M | $-10.0M | ||
| Q3 25 | $-41.5M | $-1.9M | ||
| Q2 25 | $-57.8M | $12.8M | ||
| Q1 25 | $-52.0M | $12.0M | ||
| Q4 24 | $-43.3M | $-28.2M | ||
| Q3 24 | $-63.1M | $10.6M | ||
| Q2 24 | $-32.3M | $839.0K | ||
| Q1 24 | $-65.3M | $30.5M |
| Q4 25 | 46.6% | — | ||
| Q3 25 | 45.6% | — | ||
| Q2 25 | 44.2% | 87.8% | ||
| Q1 25 | 44.4% | 87.3% | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.2% | — | ||
| Q2 24 | 40.0% | — | ||
| Q1 24 | 36.5% | — |
| Q4 25 | -4.7% | 6.2% | ||
| Q3 25 | -7.5% | 12.9% | ||
| Q2 25 | -12.8% | 15.9% | ||
| Q1 25 | -16.3% | 15.3% | ||
| Q4 24 | -13.2% | -17.5% | ||
| Q3 24 | -22.5% | 19.0% | ||
| Q2 24 | -18.1% | 21.2% | ||
| Q1 24 | -22.3% | 33.2% |
| Q4 25 | -12.8% | -4.3% | ||
| Q3 25 | -17.2% | -0.9% | ||
| Q2 25 | -23.5% | 5.7% | ||
| Q1 25 | -21.1% | 5.2% | ||
| Q4 24 | -17.2% | -20.5% | ||
| Q3 24 | -24.5% | 10.6% | ||
| Q2 24 | -12.4% | 0.8% | ||
| Q1 24 | -24.5% | 29.2% |
| Q4 25 | $-0.63 | $-0.08 | ||
| Q3 25 | $-0.87 | $-0.01 | ||
| Q2 25 | $-1.21 | $0.09 | ||
| Q1 25 | $-1.09 | $0.09 | ||
| Q4 24 | $-0.89 | $-0.22 | ||
| Q3 24 | $-1.33 | $0.08 | ||
| Q2 24 | $-0.68 | $0.01 | ||
| Q1 24 | $-1.38 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $148.5M | $125.2M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | $101.1M |
| Total Assets | $3.1B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | $125.2M | ||
| Q3 25 | $147.1M | $133.6M | ||
| Q2 25 | $213.7M | $102.1M | ||
| Q1 25 | $153.8M | $70.3M | ||
| Q4 24 | $198.5M | $41.8M | ||
| Q3 24 | $279.2M | $176.7M | ||
| Q2 24 | $384.4M | $161.6M | ||
| Q1 24 | $118.4M | $152.8M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-63.8M | $101.1M | ||
| Q3 25 | $-39.2M | $107.0M | ||
| Q2 25 | $46.7M | $102.8M | ||
| Q1 25 | $142.8M | $82.9M | ||
| Q4 24 | $222.8M | $69.3M | ||
| Q3 24 | $323.6M | $52.7M | ||
| Q2 24 | $415.5M | $52.0M | ||
| Q1 24 | $500.6M | $62.4M |
| Q4 25 | $3.1B | $1.3B | ||
| Q3 25 | $3.1B | $1.3B | ||
| Q2 25 | $3.3B | $1.3B | ||
| Q1 25 | $3.1B | $1.2B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $3.2B | $810.7M | ||
| Q2 24 | $3.3B | $802.7M | ||
| Q1 24 | $3.1B | $809.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.53× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.0M | $8.5M |
| Free Cash FlowOCF − Capex | $-43.0M | $-25.4M |
| FCF MarginFCF / Revenue | -17.9% | -11.0% |
| Capex IntensityCapex / Revenue | 15.4% | 14.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $65.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $8.5M | ||
| Q3 25 | $3.1M | $46.8M | ||
| Q2 25 | $-44.0M | $36.7M | ||
| Q1 25 | $36.4M | $32.5M | ||
| Q4 24 | $14.5M | $-38.3M | ||
| Q3 24 | $-20.2M | $25.1M | ||
| Q2 24 | $-22.2M | $24.9M | ||
| Q1 24 | $19.2M | $29.7M |
| Q4 25 | $-43.0M | $-25.4M | ||
| Q3 25 | $-33.1M | $27.3M | ||
| Q2 25 | $-100.2M | $33.5M | ||
| Q1 25 | $-21.7M | $29.7M | ||
| Q4 24 | $-31.6M | $-42.6M | ||
| Q3 24 | $-79.5M | $20.7M | ||
| Q2 24 | $-70.9M | $21.6M | ||
| Q1 24 | $-21.7M | $28.2M |
| Q4 25 | -17.9% | -11.0% | ||
| Q3 25 | -13.7% | 12.2% | ||
| Q2 25 | -40.7% | 14.8% | ||
| Q1 25 | -8.8% | 12.9% | ||
| Q4 24 | -12.5% | -30.9% | ||
| Q3 24 | -30.9% | 20.6% | ||
| Q2 24 | -27.2% | 21.1% | ||
| Q1 24 | -8.1% | 27.0% |
| Q4 25 | 15.4% | 14.7% | ||
| Q3 25 | 15.0% | 8.7% | ||
| Q2 25 | 22.8% | 1.4% | ||
| Q1 25 | 23.5% | 1.2% | ||
| Q4 24 | 18.3% | 3.1% | ||
| Q3 24 | 23.0% | 4.4% | ||
| Q2 24 | 18.7% | 3.3% | ||
| Q1 24 | 15.4% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.87× | ||
| Q1 25 | — | 2.70× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.36× | ||
| Q2 24 | — | 29.74× | ||
| Q1 24 | — | 0.97× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
GOGO
| Services | $191.9M | 83% |
| Products | $38.7M | 17% |
| Fcc Reimbursement Program | $2.0M | 1% |
