Smart People Buy Dumb Pipes

highlights Q4 2021 RESULTS ($ in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q/Q % 2020 2020 2020 2020 2021 2021 2021 2021 Change Y/Y % Change On-Net Revenue $103.5 $103.8 $105.1 $107.1 $109.9 $111.0 $111.1 $110.7 (0.3)% 5.6% Off-Net Revenue $37.3 $37.0 $37.1 $36.7 $36.7 $36.7 $36.7 $36.3 (1.0)% (1.2)% Non-Core Revenue $0.1 $0.1 $0.1 $0.1 $0.1 $0.1 $0.2 $0.2 (9.9)% 10.6% Total Revenue $140.9 $141.0 $142.3 $143.9 $146.8 $147.9 $147.9 $147.2 (0.5)% 3.8% Gross Profit (Non-GAAP) $85.2 $87.4 $88.1 $89.4 $91.8 $91.8 $91.4 $90.9 (0.6)% 4.5% Gross Margin (Non-GAAP) 60.5% 62.0% 61.9% 62.1% 62.5% 62.1% 61.8% 61.8% 0.0% 0.4% EBITDA $50.4 $53.3 $54.6 $55.7 $55.6 $57.2 $57.8 $57.4 (0.6)% 6.5% EBITDA Margin 35.8% 37.8% 38.4% 38.7% 37.9% 38.7% 39.0% 38.9% 0.0% 1.0% EBITDA, as adjusted $50.4 $53.6 $54.7 $55.7 $55.6 $57.2 $57.8 $57.3 (0.6)% 6.3% EBITDA, as adjusted 35.8% 38.0% 38.4% 38.7% 37.9% 38.7% 39.0% 38.9% 0.0% 0.9% Margin cogent Smart People Buy Dumb Pipes 18

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