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Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and NOODLES & Co (NDLS). 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 $122.1M, roughly 2.0× NOODLES & Co). NOODLES & Co runs the higher net margin — -7.5% vs -12.8%, a 5.3% gap on every dollar of revenue. On growth, NOODLES & Co posted the faster year-over-year revenue change (-4.1% vs -4.7%). NOODLES & Co produced more free cash flow last quarter ($-2.8M vs $-43.0M). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% 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.
Noodles & Company is an American fast-casual restaurant that offers international and American noodle dishes in addition to soups and salads. Noodles & Company was founded in 1995 by Aaron Kennedy and is headquartered in Broomfield, Colorado. The company went public in 2013 and recorded a $457 million revenue in 2017. In mid-2022, there were 458 Noodles & Company locations across 31 states.
CCOI vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $122.1M |
| Net Profit | $-30.8M | $-9.2M |
| Gross Margin | 46.6% | — |
| Operating Margin | -4.7% | -5.2% |
| Net Margin | -12.8% | -7.5% |
| Revenue YoY | -4.7% | -4.1% |
| Net Profit YoY | 28.9% | 32.8% |
| EPS (diluted) | $-0.63 | $-0.20 |
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 | — | ||
| Q3 25 | $241.9M | $122.1M | ||
| Q2 25 | $246.2M | $123.8M | ||
| Q1 25 | $247.0M | — | ||
| Q4 24 | $252.3M | $122.8M | ||
| Q3 24 | $257.2M | $127.4M | ||
| Q2 24 | $260.4M | $121.4M | ||
| Q1 24 | $266.2M | $124.3M |
| Q4 25 | $-30.8M | — | ||
| Q3 25 | $-41.5M | $-9.2M | ||
| Q2 25 | $-57.8M | $-9.1M | ||
| Q1 25 | $-52.0M | — | ||
| Q4 24 | $-43.3M | $-6.8M | ||
| Q3 24 | $-63.1M | $-13.6M | ||
| Q2 24 | $-32.3M | $-6.1M | ||
| Q1 24 | $-65.3M | $-6.1M |
| Q4 25 | 46.6% | — | ||
| Q3 25 | 45.6% | — | ||
| Q2 25 | 44.2% | — | ||
| Q1 25 | 44.4% | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.2% | — | ||
| Q2 24 | 40.0% | — | ||
| Q1 24 | 36.5% | — |
| Q4 25 | -4.7% | — | ||
| Q3 25 | -7.5% | -5.2% | ||
| Q2 25 | -12.8% | -5.2% | ||
| Q1 25 | -16.3% | — | ||
| Q4 24 | -13.2% | -3.9% | ||
| Q3 24 | -22.5% | -9.0% | ||
| Q2 24 | -18.1% | -3.4% | ||
| Q1 24 | -22.3% | -3.7% |
| Q4 25 | -12.8% | — | ||
| Q3 25 | -17.2% | -7.5% | ||
| Q2 25 | -23.5% | -7.3% | ||
| Q1 25 | -21.1% | — | ||
| Q4 24 | -17.2% | -5.5% | ||
| Q3 24 | -24.5% | -10.7% | ||
| Q2 24 | -12.4% | -5.1% | ||
| Q1 24 | -24.5% | -4.9% |
| Q4 25 | $-0.63 | — | ||
| Q3 25 | $-0.87 | $-0.20 | ||
| Q2 25 | $-1.21 | $-0.20 | ||
| Q1 25 | $-1.09 | — | ||
| Q4 24 | $-0.89 | $-0.15 | ||
| Q3 24 | $-1.33 | $-0.30 | ||
| Q2 24 | $-0.68 | $-0.14 | ||
| Q1 24 | $-1.38 | $-1.64 |
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 | $4.7M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | $-38.9M |
| Total Assets | $3.1B | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | — | ||
| Q3 25 | $147.1M | $4.7M | ||
| Q2 25 | $213.7M | $1.4M | ||
| Q1 25 | $153.8M | — | ||
| Q4 24 | $198.5M | $3.3M | ||
| Q3 24 | $279.2M | $1.8M | ||
| Q2 24 | $384.4M | $1.3M | ||
| Q1 24 | $118.4M | $3.0M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-63.8M | — | ||
| Q3 25 | $-39.2M | $-38.9M | ||
| Q2 25 | $46.7M | $-13.9M | ||
| Q1 25 | $142.8M | — | ||
| Q4 24 | $222.8M | $3.7M | ||
| Q3 24 | $323.6M | $9.6M | ||
| Q2 24 | $415.5M | $21.9M | ||
| Q1 24 | $500.6M | $27.2M |
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.1B | $280.6M | ||
| Q2 25 | $3.3B | $319.4M | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.2B | $340.5M | ||
| Q3 24 | $3.2B | $346.3M | ||
| Q2 24 | $3.3B | $360.4M | ||
| Q1 24 | $3.1B | $368.1M |
| 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 | $4.3M |
| Free Cash FlowOCF − Capex | $-43.0M | $-2.8M |
| FCF MarginFCF / Revenue | -17.9% | -2.3% |
| Capex IntensityCapex / Revenue | 15.4% | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | — | ||
| Q3 25 | $3.1M | $4.3M | ||
| Q2 25 | $-44.0M | $4.0M | ||
| Q1 25 | $36.4M | — | ||
| Q4 24 | $14.5M | $5.8M | ||
| Q3 24 | $-20.2M | $4.7M | ||
| Q2 24 | $-22.2M | $7.0M | ||
| Q1 24 | $19.2M | $164.0K |
| Q4 25 | $-43.0M | — | ||
| Q3 25 | $-33.1M | $-2.8M | ||
| Q2 25 | $-100.2M | $1.1M | ||
| Q1 25 | $-21.7M | — | ||
| Q4 24 | $-31.6M | $-1.3M | ||
| Q3 24 | $-79.5M | $-4.5M | ||
| Q2 24 | $-70.9M | $-1.6M | ||
| Q1 24 | $-21.7M | $-15.2M |
| Q4 25 | -17.9% | — | ||
| Q3 25 | -13.7% | -2.3% | ||
| Q2 25 | -40.7% | 0.9% | ||
| Q1 25 | -8.8% | — | ||
| Q4 24 | -12.5% | -1.1% | ||
| Q3 24 | -30.9% | -3.5% | ||
| Q2 24 | -27.2% | -1.4% | ||
| Q1 24 | -8.1% | -12.2% |
| Q4 25 | 15.4% | — | ||
| Q3 25 | 15.0% | 5.8% | ||
| Q2 25 | 22.8% | 2.4% | ||
| Q1 25 | 23.5% | — | ||
| Q4 24 | 18.3% | 5.8% | ||
| Q3 24 | 23.0% | 7.2% | ||
| Q2 24 | 18.7% | 7.1% | ||
| Q1 24 | 15.4% | 12.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
