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Cogent Communications Holdings Earnings Calls
| Release date | May 04, 2026 |
| EPS estimate | -$1.03 |
| EPS actual | -$0.83 |
| EPS Surprise | 19.42% |
| Revenue estimate | 241.313M |
| Revenue actual | 239.187M |
| Revenue Surprise | -0.88% |
| Release date | Feb 20, 2026 |
| EPS estimate | -$1.09 |
| EPS actual | -$0.640 |
| EPS Surprise | 41.28% |
| Revenue estimate | 243.549M |
| Revenue actual | 240.518M |
| Revenue Surprise | -1.24% |
| Release date | Nov 06, 2025 |
| EPS estimate | -$1.15 |
| EPS actual | -$0.87 |
| EPS Surprise | 24.35% |
| Revenue estimate | 243.819M |
| Revenue actual | 222.749M |
| Revenue Surprise | -8.64% |
| Release date | Aug 07, 2025 |
| EPS estimate | -$0.93 |
| EPS actual | -$1.21 |
| EPS Surprise | -30.11% |
| Revenue estimate | 246.802M |
| Revenue actual | 246.247M |
| Revenue Surprise | -0.225% |
Last 4 Quarters for Cogent Communications Holdings
Below you can see how CCOI performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Aug 07, 2025 |
| Price on release | $35.34 |
| EPS estimate | -$0.93 |
| EPS actual | -$1.21 |
| EPS surprise | -30.11% |
| Date | Price |
|---|---|
| Aug 01, 2025 | $45.14 |
| Aug 04, 2025 | $45.28 |
| Aug 05, 2025 | $45.70 |
| Aug 06, 2025 | $43.88 |
| Aug 07, 2025 | $35.34 |
| Aug 08, 2025 | $30.62 |
| Aug 11, 2025 | $32.36 |
| Aug 12, 2025 | $34.06 |
| Aug 13, 2025 | $34.83 |
| 4 days before | -21.71% |
| 4 days after | -1.44% |
| On release day | -13.36% |
| Change in period | -22.84% |
| Release date | Nov 06, 2025 |
| Price on release | $24.95 |
| EPS estimate | -$1.15 |
| EPS actual | -$0.87 |
| EPS surprise | 24.35% |
| Date | Price |
|---|---|
| Oct 31, 2025 | $41.25 |
| Nov 03, 2025 | $40.77 |
| Nov 04, 2025 | $39.96 |
| Nov 05, 2025 | $38.30 |
| Nov 06, 2025 | $24.95 |
| Nov 07, 2025 | $23.49 |
| Nov 10, 2025 | $22.12 |
| Nov 11, 2025 | $20.62 |
| Nov 12, 2025 | $18.49 |
| 4 days before | -39.52% |
| 4 days after | -25.89% |
| On release day | -5.85% |
| Change in period | -55.18% |
| Release date | Feb 20, 2026 |
| Price on release | $18.59 |
| EPS estimate | -$1.09 |
| EPS actual | -$0.640 |
| EPS surprise | 41.28% |
| Date | Price |
|---|---|
| Feb 13, 2026 | $26.46 |
| Feb 17, 2026 | $26.79 |
| Feb 18, 2026 | $27.66 |
| Feb 19, 2026 | $26.31 |
| Feb 20, 2026 | $18.59 |
| Feb 23, 2026 | $17.87 |
| Feb 24, 2026 | $18.94 |
| Feb 25, 2026 | $18.49 |
| Feb 26, 2026 | $18.55 |
| 4 days before | -29.76% |
| 4 days after | -0.188% |
| On release day | -3.85% |
| Change in period | -29.89% |
| Release date | May 04, 2026 |
| Price on release | $16.37 |
| EPS estimate | -$1.03 |
| EPS actual | -$0.83 |
| EPS surprise | 19.42% |
| Date | Price |
|---|---|
| Apr 28, 2026 | $24.21 |
| Apr 29, 2026 | $23.46 |
| Apr 30, 2026 | $22.65 |
| May 01, 2026 | $23.16 |
| May 04, 2026 | $16.37 |
| May 05, 2026 | $18.06 |
| May 06, 2026 | $16.60 |
| May 07, 2026 | $16.32 |
| May 08, 2026 | $16.65 |
| 4 days before | -32.38% |
| 4 days after | 1.71% |
| On release day | 10.32% |
| Change in period | -31.23% |
Cogent Communications Holdings Earnings Call Transcript Summary of Q1 2026
Key points for investors:
- Data center monetization: Cogent has entered a nonbinding LOI to sell 10 of 24 acquired Sprint data centers; buyer due diligence is essentially complete and management expects closing in early summer (June/early July). Proceeds will be contributed to the borrowing entity to accelerate deleveraging.
- Debt & refinancing: Management is working to refinance the $750M unsecured 2027 notes with secured debt after the make-whole period expires (June 15, 2026). The company and holders of the $600M 2032 secured notes (a majority) have a verbal agreement to amend the 2032 indenture to permit additional pari‑passu/junior secured debt and credit enhancements; if documented, Cogent will forgo its previously announced secured-debt realignment plan.
- Financials & leverage: Q1 revenue was $239.2M (sequential -0.6%); EBITDA as adjusted was $70.2M with a 29.3% margin (sequential decline but year-over-year margin expansion). Total gross debt at par was ~$2.4B; net debt (net of cash and $181.7M due from T‑Mobile) was ~$2.0B. Reported net leverage ~6.79x on the stated basis.
- Business mix & trends: On-net revenue (including wavelengths) now ~62% of total (up from 47% at Sprint close). Wavelength revenue was $13.6M (+90.8% YoY, +12.3% sequential) with services offered in 1,107 locations and to 492 unique customers; provisioning interval ~30 days. Management reiterates a multi‑year revenue growth target of 6–8% and ~200 bps of EBITDA margin expansion per year.
- Operational items: IPv4 leasing revenue $18M (up 25% YoY); capex was $46.2M in Q1. SG&A seasonally rose (~$7.1M QoQ) due to CPI-related salary increases, payroll taxes, audit and sales meeting costs. Management cites vendor equipment price increases and supply-chain timing impacts on installs/acceptances, especially for wavelengths and optics.
- Strategy: Continued focus on selling higher-margin on‑net products, improving sales rep productivity, completing data center disposals to delever, and scaling wavelength market share (current share ~3%; multiyear target 25% of North American long‑haul).
