)
Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Cogeco (CGO) investor relations material
Cogeco Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary30 Oct, 2025
Executive summary
Completed year one of a three-year transformation program, delivering targeted OpEx and CapEx synergies, network upgrades, and meeting cost reduction targets.
Achieved best Canadian internet subscriber growth in 13 years, adding 16,988 new subscribers in Q4 2025, driven by market share gains and constructive competition.
U.S. operations saw improved subscriber trends, with Ohio recording its first customer growth since acquisition, despite ongoing ARPU pressures and prior customer losses.
Launched Canadian wireless service ahead of plan, now deployed across most of the footprint, with strong early sales.
Unified management structure for Canadian and U.S. operations to drive synergies and accelerate growth.
Financial highlights
Fiscal 2025 revenue was $2.91B; Adjusted EBITDA $1.44B; free cash flow $517M; Q4 2025 revenue declined 4.9% year-over-year to $731.4M, and adjusted EBITDA fell 3.8% to $357.1M.
Adjusted EBITDA margin consistently above 47% over the past five years.
Dividend increased by 7% to $0.987 per share, with a yield of 6.1%.
Net debt to Adjusted EBITDA ratio at 3.1x; available liquidity of $944M.
Free cash flow in constant currency decreased 27.4% in Q4 but rose 7.9% for the full year; Q4 free cash flow was $101.6M, down 29.0% year-over-year.
Outlook and guidance
Fiscal 2026 guidance: consolidated revenue expected to decrease 1–3% and Adjusted EBITDA to decrease 0–2% year-on-year, reflecting U.S. competition and investments in sales, marketing, and Canadian wireless.
Capital expenditures projected at $560–600M, with $100–140M for network expansions; capital intensity expected at 19–21%.
Free cash flow (excluding network expansions) expected to increase 0–10% versus fiscal 2025.
Q1 2026: consolidated revenue and Adjusted EBITDA expected to decline mid-single digits year-on-year, with sequential improvement from Q2 onward.
Targeting $600M free cash flow in fiscal 2027, supporting further dividend growth and deleveraging.
Explain FY26 revenue decline despite transformation focus?
How will US telecom improve beyond Ohio's gains?
What are the FY26 Canadian wireless growth targets?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Cogeco earnings date
Q1 202615 Jan, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Cogeco Inc. operates through two segments: Communications and Media. The Communications segment, through Cogeco Communications Inc., provides to its residential and small business customers analog and digital video services, high-speed Internet services, telephony services, and wireless services through the Corporation s interest in Videotron Ltd; and business information technology services. The company was incorporated in 1957 and is headquartered in Montreal, Canada.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage