vs
Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $240.5M, roughly 1.8× COGENT COMMUNICATIONS HOLDINGS, INC.). PEGASYSTEMS INC runs the higher net margin — 7.6% vs -12.8%, a 20.4% gap on every dollar of revenue. On growth, COGENT COMMUNICATIONS HOLDINGS, INC. posted the faster year-over-year revenue change (-4.7% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $-43.0M). Over the past eight quarters, PEGASYSTEMS INC's revenue compounded faster (10.7% 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.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
CCOI vs PEGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $430.0M |
| Net Profit | $-30.8M | $32.8M |
| Gross Margin | 46.6% | 75.2% |
| Operating Margin | -4.7% | 8.6% |
| Net Margin | -12.8% | 7.6% |
| Revenue YoY | -4.7% | -9.6% |
| Net Profit YoY | 28.9% | — |
| EPS (diluted) | $-0.63 | $0.18 |
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.
| Q1 26 | — | $430.0M | ||
| Q4 25 | $240.5M | $504.3M | ||
| Q3 25 | $241.9M | $381.4M | ||
| Q2 25 | $246.2M | $384.5M | ||
| Q1 25 | $247.0M | $475.6M | ||
| Q4 24 | $252.3M | $490.8M | ||
| Q3 24 | $257.2M | $325.1M | ||
| Q2 24 | $260.4M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $-30.8M | $234.6M | ||
| Q3 25 | $-41.5M | $43.4M | ||
| Q2 25 | $-57.8M | $30.1M | ||
| Q1 25 | $-52.0M | $85.4M | ||
| Q4 24 | $-43.3M | $119.1M | ||
| Q3 24 | $-63.1M | $-14.4M | ||
| Q2 24 | $-32.3M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | 46.6% | 79.5% | ||
| Q3 25 | 45.6% | 72.2% | ||
| Q2 25 | 44.2% | 71.5% | ||
| Q1 25 | 44.4% | 78.5% | ||
| Q4 24 | 38.5% | 79.1% | ||
| Q3 24 | 37.2% | 70.2% | ||
| Q2 24 | 40.0% | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | -4.7% | 20.7% | ||
| Q3 25 | -7.5% | 3.8% | ||
| Q2 25 | -12.8% | 4.5% | ||
| Q1 25 | -16.3% | 26.7% | ||
| Q4 24 | -13.2% | 29.1% | ||
| Q3 24 | -22.5% | -3.6% | ||
| Q2 24 | -18.1% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | -12.8% | 46.5% | ||
| Q3 25 | -17.2% | 11.4% | ||
| Q2 25 | -23.5% | 7.8% | ||
| Q1 25 | -21.1% | 18.0% | ||
| Q4 24 | -17.2% | 24.3% | ||
| Q3 24 | -24.5% | -4.4% | ||
| Q2 24 | -12.4% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $-0.63 | $0.81 | ||
| Q3 25 | $-0.87 | $0.24 | ||
| Q2 25 | $-1.21 | $0.17 | ||
| Q1 25 | $-1.09 | $0.91 | ||
| Q4 24 | $-0.89 | $1.35 | ||
| Q3 24 | $-1.33 | $-0.17 | ||
| Q2 24 | $-0.68 | $0.07 |
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 | $270.0M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | $705.9M |
| Total Assets | $3.1B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $148.5M | $425.8M | ||
| Q3 25 | $147.1M | $351.4M | ||
| Q2 25 | $213.7M | $411.6M | ||
| Q1 25 | $153.8M | $371.7M | ||
| Q4 24 | $198.5M | $740.0M | ||
| Q3 24 | $279.2M | $703.0M | ||
| Q2 24 | $384.4M | $665.1M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $705.9M | ||
| Q4 25 | $-63.8M | $787.4M | ||
| Q3 25 | $-39.2M | $596.8M | ||
| Q2 25 | $46.7M | $624.5M | ||
| Q1 25 | $142.8M | $611.3M | ||
| Q4 24 | $222.8M | $585.5M | ||
| Q3 24 | $323.6M | $473.0M | ||
| Q2 24 | $415.5M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $3.1B | $1.6B | ||
| Q3 25 | $3.1B | $1.3B | ||
| Q2 25 | $3.3B | $1.3B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.2B | $1.8B | ||
| Q3 24 | $3.2B | $1.6B | ||
| Q2 24 | $3.3B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.53× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | $-43.0M | $206.5M |
| FCF MarginFCF / Revenue | -17.9% | 48.0% |
| Capex IntensityCapex / Revenue | 15.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-6.0M | $158.4M | ||
| Q3 25 | $3.1M | $56.3M | ||
| Q2 25 | $-44.0M | $86.3M | ||
| Q1 25 | $36.4M | $204.2M | ||
| Q4 24 | $14.5M | $95.2M | ||
| Q3 24 | $-20.2M | $30.5M | ||
| Q2 24 | $-22.2M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $-43.0M | $152.4M | ||
| Q3 25 | $-33.1M | $51.8M | ||
| Q2 25 | $-100.2M | $84.1M | ||
| Q1 25 | $-21.7M | $202.3M | ||
| Q4 24 | $-31.6M | $92.4M | ||
| Q3 24 | $-79.5M | $27.4M | ||
| Q2 24 | $-70.9M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | -17.9% | 30.2% | ||
| Q3 25 | -13.7% | 13.6% | ||
| Q2 25 | -40.7% | 21.9% | ||
| Q1 25 | -8.8% | 42.5% | ||
| Q4 24 | -12.5% | 18.8% | ||
| Q3 24 | -30.9% | 8.4% | ||
| Q2 24 | -27.2% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 15.4% | 1.2% | ||
| Q3 25 | 15.0% | 1.2% | ||
| Q2 25 | 22.8% | 0.6% | ||
| Q1 25 | 23.5% | 0.4% | ||
| Q4 24 | 18.3% | 0.6% | ||
| Q3 24 | 23.0% | 0.9% | ||
| Q2 24 | 18.7% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.68× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | — | 2.87× | ||
| Q1 25 | — | 2.39× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
