Smart People Buy Dumb Pipes
highlights
Q3 2023 RESULTS ($ in millions)
Q1
Q2
Q3
Q4
Q1
Q2
Q3 Q/Q% Y/Y%
2022
2022
2022
2022
2023
2023*
2023
Change Change
On-Net Revenue
$112.6
$112.0
$113.2
$114.9
$116.1
$127.7
$130.0
1.9%
14.9%
Wavelength Revenue
$1.6
$3.0
88.8%
Off-Net Revenue
$36.4
$36.3
$36.6
$36.9
$37.3
$102.0
$130.1
28.4% 257.7%
Non-Core Revenue
$0.2
$0.2
$0.2
$0.2
$0.2
$8.6
$11.4
33.2% 6616.1%
Total Revenue
$149.2
$148.5
$150.0
$152.0
$153.6
$239.9
$275.4
14.9%
83.6%
Gross Profit (Non-GAAP)
$91.9
$92.1
$93.0
$95.1
$95.1
$102.5
$102.2 (0.3)%
9.9%
Gross Margin (Non-GAAP)
61.6%
62.0%
62.0%
62.6%
61.9%
42.8%
37.1% (5.7)%
(24.9)%
EBITDA
$57.2
$58.5
$57.9
$57.1
$56.1
$24.2
$43.6 80.4% (24.7)%
EBITDA Margin
38.3%
39.4%
38.6%
37.6%
36.5%
10.1%
15.8%
5.7% (22.8)%
EBITDA, as adjusted for Sprint acquisition
costs and cash payments under IP Transit
$57.2
$58.5
$59.9
$57.4
$56.5
$54.1
$131.4
143.1% 119.5%
Services Agreement
EBITDA, as adjusted for Sprint acquisition
costs and cash payments under IP Transit
38.3%
39.4%
39.9%
37.8%
36.8%
22.5%
47.7%
25.2%
7.8%
Services Agreement Margin
*Acquisition of Sprint Wireline business
cogent
Smart People
Buy Dumb Pipes
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