vs
Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and IMAX CORP (IMAX). 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 $125.2M, roughly 1.9× IMAX CORP). IMAX CORP runs the higher net margin — 0.5% vs -12.8%, a 13.3% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs -4.7%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $-43.0M). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% 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.
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
CCOI vs IMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $125.2M |
| Net Profit | $-30.8M | $637.0K |
| Gross Margin | 46.6% | 57.6% |
| Operating Margin | -4.7% | 19.3% |
| Net Margin | -12.8% | 0.5% |
| Revenue YoY | -4.7% | 35.1% |
| Net Profit YoY | 28.9% | -88.0% |
| EPS (diluted) | $-0.63 | $0.02 |
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 | $125.2M | ||
| Q3 25 | $241.9M | $106.7M | ||
| Q2 25 | $246.2M | $91.7M | ||
| Q1 25 | $247.0M | $86.7M | ||
| Q4 24 | $252.3M | $92.7M | ||
| Q3 24 | $257.2M | $91.5M | ||
| Q2 24 | $260.4M | $89.0M | ||
| Q1 24 | $266.2M | $79.1M |
| Q4 25 | $-30.8M | $637.0K | ||
| Q3 25 | $-41.5M | $20.7M | ||
| Q2 25 | $-57.8M | $11.3M | ||
| Q1 25 | $-52.0M | $2.3M | ||
| Q4 24 | $-43.3M | $5.3M | ||
| Q3 24 | $-63.1M | $13.9M | ||
| Q2 24 | $-32.3M | $3.6M | ||
| Q1 24 | $-65.3M | $3.3M |
| Q4 25 | 46.6% | 57.6% | ||
| Q3 25 | 45.6% | 63.1% | ||
| Q2 25 | 44.2% | 58.5% | ||
| Q1 25 | 44.4% | 61.4% | ||
| Q4 24 | 38.5% | 52.2% | ||
| Q3 24 | 37.2% | 55.8% | ||
| Q2 24 | 40.0% | 49.4% | ||
| Q1 24 | 36.5% | 59.3% |
| Q4 25 | -4.7% | 19.3% | ||
| Q3 25 | -7.5% | 27.2% | ||
| Q2 25 | -12.8% | 15.6% | ||
| Q1 25 | -16.3% | 19.3% | ||
| Q4 24 | -13.2% | 10.3% | ||
| Q3 24 | -22.5% | 21.2% | ||
| Q2 24 | -18.1% | 3.2% | ||
| Q1 24 | -22.3% | 15.3% |
| Q4 25 | -12.8% | 0.5% | ||
| Q3 25 | -17.2% | 19.4% | ||
| Q2 25 | -23.5% | 12.3% | ||
| Q1 25 | -21.1% | 2.7% | ||
| Q4 24 | -17.2% | 5.7% | ||
| Q3 24 | -24.5% | 15.2% | ||
| Q2 24 | -12.4% | 4.0% | ||
| Q1 24 | -24.5% | 4.1% |
| Q4 25 | $-0.63 | $0.02 | ||
| Q3 25 | $-0.87 | $0.37 | ||
| Q2 25 | $-1.21 | $0.20 | ||
| Q1 25 | $-1.09 | $0.04 | ||
| Q4 24 | $-0.89 | $0.09 | ||
| Q3 24 | $-1.33 | $0.26 | ||
| Q2 24 | $-0.68 | $0.07 | ||
| Q1 24 | $-1.38 | $0.06 |
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 | $151.2M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | $337.9M |
| Total Assets | $3.1B | $894.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | $151.2M | ||
| Q3 25 | $147.1M | $143.1M | ||
| Q2 25 | $213.7M | $109.3M | ||
| Q1 25 | $153.8M | $97.1M | ||
| Q4 24 | $198.5M | $100.6M | ||
| Q3 24 | $279.2M | $104.5M | ||
| Q2 24 | $384.4M | $91.6M | ||
| Q1 24 | $118.4M | $81.0M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-63.8M | $337.9M | ||
| Q3 25 | $-39.2M | $349.5M | ||
| Q2 25 | $46.7M | $320.4M | ||
| Q1 25 | $142.8M | $299.5M | ||
| Q4 24 | $222.8M | $299.5M | ||
| Q3 24 | $323.6M | $289.4M | ||
| Q2 24 | $415.5M | $267.2M | ||
| Q1 24 | $500.6M | $258.8M |
| Q4 25 | $3.1B | $894.0M | ||
| Q3 25 | $3.1B | $889.6M | ||
| Q2 25 | $3.3B | $868.6M | ||
| Q1 25 | $3.1B | $848.3M | ||
| Q4 24 | $3.2B | $830.4M | ||
| Q3 24 | $3.2B | $847.6M | ||
| Q2 24 | $3.3B | $827.4M | ||
| Q1 24 | $3.1B | $824.1M |
| 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 | $29.4M |
| Free Cash FlowOCF − Capex | $-43.0M | $28.0M |
| FCF MarginFCF / Revenue | -17.9% | 22.3% |
| Capex IntensityCapex / Revenue | 15.4% | 1.1% |
| Cash ConversionOCF / Net Profit | — | 46.11× |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $118.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $29.4M | ||
| Q3 25 | $3.1M | $67.5M | ||
| Q2 25 | $-44.0M | $23.2M | ||
| Q1 25 | $36.4M | $7.0M | ||
| Q4 24 | $14.5M | $11.5M | ||
| Q3 24 | $-20.2M | $35.3M | ||
| Q2 24 | $-22.2M | $35.0M | ||
| Q1 24 | $19.2M | $-11.0M |
| Q4 25 | $-43.0M | $28.0M | ||
| Q3 25 | $-33.1M | $64.8M | ||
| Q2 25 | $-100.2M | $20.9M | ||
| Q1 25 | $-21.7M | $5.3M | ||
| Q4 24 | $-31.6M | $6.9M | ||
| Q3 24 | $-79.5M | $34.2M | ||
| Q2 24 | $-70.9M | $33.5M | ||
| Q1 24 | $-21.7M | $-12.1M |
| Q4 25 | -17.9% | 22.3% | ||
| Q3 25 | -13.7% | 60.7% | ||
| Q2 25 | -40.7% | 22.8% | ||
| Q1 25 | -8.8% | 6.1% | ||
| Q4 24 | -12.5% | 7.4% | ||
| Q3 24 | -30.9% | 37.3% | ||
| Q2 24 | -27.2% | 37.6% | ||
| Q1 24 | -8.1% | -15.3% |
| Q4 25 | 15.4% | 1.1% | ||
| Q3 25 | 15.0% | 2.6% | ||
| Q2 25 | 22.8% | 2.6% | ||
| Q1 25 | 23.5% | 1.9% | ||
| Q4 24 | 18.3% | 5.0% | ||
| Q3 24 | 23.0% | 1.2% | ||
| Q2 24 | 18.7% | 1.8% | ||
| Q1 24 | 15.4% | 1.4% |
| Q4 25 | — | 46.11× | ||
| Q3 25 | — | 3.27× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 9.78× | ||
| Q1 24 | — | -3.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
