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Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). 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 $199.5M, roughly 1.2× VIRTUS INVESTMENT PARTNERS, INC.). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 3.6% vs -12.8%, a 16.4% gap on every dollar of revenue. On growth, VIRTUS INVESTMENT PARTNERS, INC. posted the faster year-over-year revenue change (-4.1% vs -4.7%). Over the past eight quarters, COGENT COMMUNICATIONS HOLDINGS, INC.'s revenue compounded faster (-4.9% CAGR vs -5.7%).
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.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
CCOI vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $199.5M |
| Net Profit | $-30.8M | $7.1M |
| Gross Margin | 46.6% | — |
| Operating Margin | -4.7% | 7.7% |
| Net Margin | -12.8% | 3.6% |
| Revenue YoY | -4.7% | -4.1% |
| Net Profit YoY | 28.9% | -78.1% |
| EPS (diluted) | $-0.63 | $1.05 |
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 | — | $199.5M | ||
| Q4 25 | $240.5M | $208.0M | ||
| Q3 25 | $241.9M | $216.4M | ||
| Q2 25 | $246.2M | $210.5M | ||
| Q1 25 | $247.0M | $217.9M | ||
| Q4 24 | $252.3M | $233.5M | ||
| Q3 24 | $257.2M | $227.0M | ||
| Q2 24 | $260.4M | $224.4M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $-30.8M | $33.9M | ||
| Q3 25 | $-41.5M | $31.3M | ||
| Q2 25 | $-57.8M | $42.7M | ||
| Q1 25 | $-52.0M | $28.1M | ||
| Q4 24 | $-43.3M | $39.5M | ||
| Q3 24 | $-63.1M | $49.1M | ||
| Q2 24 | $-32.3M | $26.0M |
| Q1 26 | — | — | ||
| 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 26 | — | 7.7% | ||
| Q4 25 | -4.7% | 19.1% | ||
| Q3 25 | -7.5% | 21.7% | ||
| Q2 25 | -12.8% | 21.5% | ||
| Q1 25 | -16.3% | 16.8% | ||
| Q4 24 | -13.2% | 21.7% | ||
| Q3 24 | -22.5% | 24.3% | ||
| Q2 24 | -18.1% | 19.7% |
| Q1 26 | — | 3.6% | ||
| Q4 25 | -12.8% | 16.3% | ||
| Q3 25 | -17.2% | 14.5% | ||
| Q2 25 | -23.5% | 20.3% | ||
| Q1 25 | -21.1% | 12.9% | ||
| Q4 24 | -17.2% | 16.9% | ||
| Q3 24 | -24.5% | 21.6% | ||
| Q2 24 | -12.4% | 11.6% |
| Q1 26 | — | $1.05 | ||
| Q4 25 | $-0.63 | $5.15 | ||
| Q3 25 | $-0.87 | $4.65 | ||
| Q2 25 | $-1.21 | $6.12 | ||
| Q1 25 | $-1.09 | $4.05 | ||
| Q4 24 | $-0.89 | $4.65 | ||
| Q3 24 | $-1.33 | $5.71 | ||
| Q2 24 | $-0.68 | $2.43 |
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 | $136.6M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | $93.6B |
| Total Assets | $3.1B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $136.6M | ||
| Q4 25 | $148.5M | — | ||
| Q3 25 | $147.1M | — | ||
| Q2 25 | $213.7M | — | ||
| Q1 25 | $153.8M | — | ||
| Q4 24 | $198.5M | — | ||
| Q3 24 | $279.2M | — | ||
| Q2 24 | $384.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | $1.5B | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M |
| Q1 26 | — | $93.6B | ||
| Q4 25 | $-63.8M | $934.0M | ||
| Q3 25 | $-39.2M | $918.7M | ||
| Q2 25 | $46.7M | $896.4M | ||
| Q1 25 | $142.8M | $893.7M | ||
| Q4 24 | $222.8M | $897.5M | ||
| Q3 24 | $323.6M | $889.0M | ||
| Q2 24 | $415.5M | $868.7M |
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $4.3B | ||
| Q3 25 | $3.1B | $3.9B | ||
| Q2 25 | $3.3B | $3.7B | ||
| Q1 25 | $3.1B | $3.7B | ||
| Q4 24 | $3.2B | $4.0B | ||
| Q3 24 | $3.2B | $3.6B | ||
| Q2 24 | $3.3B | $3.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | 6.53× | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× |
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 | — |
| FCF MarginFCF / Revenue | -17.9% | — |
| Capex IntensityCapex / Revenue | 15.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-6.0M | $-67.2M | ||
| Q3 25 | $3.1M | $108.3M | ||
| Q2 25 | $-44.0M | $75.8M | ||
| Q1 25 | $36.4M | $-3.8M | ||
| Q4 24 | $14.5M | $1.8M | ||
| Q3 24 | $-20.2M | $69.1M | ||
| Q2 24 | $-22.2M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-43.0M | $-74.1M | ||
| Q3 25 | $-33.1M | $106.9M | ||
| Q2 25 | $-100.2M | $74.2M | ||
| Q1 25 | $-21.7M | $-6.8M | ||
| Q4 24 | $-31.6M | $-3.8M | ||
| Q3 24 | $-79.5M | $68.7M | ||
| Q2 24 | $-70.9M | $68.6M |
| Q1 26 | — | — | ||
| Q4 25 | -17.9% | -35.6% | ||
| Q3 25 | -13.7% | 49.4% | ||
| Q2 25 | -40.7% | 35.2% | ||
| Q1 25 | -8.8% | -3.1% | ||
| Q4 24 | -12.5% | -1.6% | ||
| Q3 24 | -30.9% | 30.3% | ||
| Q2 24 | -27.2% | 30.6% |
| Q1 26 | — | — | ||
| Q4 25 | 15.4% | 3.3% | ||
| Q3 25 | 15.0% | 0.7% | ||
| Q2 25 | 22.8% | 0.7% | ||
| Q1 25 | 23.5% | 1.4% | ||
| Q4 24 | 18.3% | 2.4% | ||
| Q3 24 | 23.0% | 0.2% | ||
| Q2 24 | 18.7% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | -1.99× | ||
| Q3 25 | — | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
