Nov 5, 7:22 AM ET
Cogent Communications reported third-quarter 2026 service revenue of $231.2 million, down 1.8% from the second quarter and down 4.4% from a year earlier, and a net loss of $(0.62) per share. The company's board suspended its quarterly dividend on November 4, 2026, which removes a cash return for shareholders. Adjusted EBITDA rose 3.9% sequentially to $73.9 million, but the second quarter included a $130.7 million gain on a sale of data centers, so the sequential EPS comparison is distorted.
- Service revenue was $231.2 million for Q3 2026, versus $235.6 million for Q2 2026 and $241.9 million... see note: Q3 2025 service revenue was not stated as a figure in the release text, so use only the reported percentage decline of 4.4% ye
- Basic net loss per share was $(0.62) for Q3 2026, compared with basic net earnings of $1.39 in Q2 2026 and a basic net loss of $(0.87) in Q3 2025.
- EBITDA, as adjusted, was $73.9 million, up 3.9% from Q2 2026, with a margin of 32.0%.
- The Board voted on November 4, 2026 to suspend the dividend program.
Read the filing on SEC.gov ↗
Aug 6, 7:19 AM ET
Cogent Communications reported second-quarter 2026 service revenue of $235.6 million, down 1.5% from the first quarter and down 4.3% from a year earlier. Net income rose to $66.6 million, or $1.39 per basic share, mainly because of a $130.7 million gain from selling ten owned data centers for $224.2 million in net proceeds.
- Service revenue was $235.6 million in Q2 2026, versus $239.2 million in Q1 2026; on-net revenue rose 6.2% from Q2 2025 to $150.2 million, including wavelengths.
- Net income was $66.6 million, or $1.39 basic and $1.38 diluted per share, compared with a loss of $(0.83) per share in Q1 2026.
- EBITDA, as adjusted for IP Transit Services Agreement payments, was $71.1 million, up 1.3% from Q1 2026, with a 30.2% margin.
- The Board approved a $0.02 quarterly dividend payable September 4, 2026, to holders of record on August 21, 2026; the net leverage ratio, adjusted for amounts due from T-Mobile, declined to 6.23 from 6.79.
Read the filing on SEC.gov ↗
Jun 15, 4:20 PM ET
On June 15, 2026, two wholly owned subsidiaries of Cogent Communications Holdings signed a First Supplemental Indenture amending the 2025 indenture for their notes, after receiving consents from holders of a majority of the outstanding 6.500% Senior Secured Notes due 2032. The amendment raises the secured leverage ratio under the ratio liens basket from 4.00:1.00 to 4.75:1.00, while requiring at least 50% of data center sale proceeds to repurchase those notes at a discount and barring those proceeds from increasing restricted payment capacity. It also restricts transfers of indefeasible rights of use to unrestricted or non-guarantor subsidiaries.
- Secured leverage ratio under the ratio liens basket increased from 4.00:1.00 to 4.75:1.00
- At least 50% of data center sale proceeds must be used to repurchase the 6.500% Senior Secured Notes due 2032 at a discount
- Proceeds from data center sales will not increase available restricted payment capacity
- Cogent Group may not make restricted payments involving IRU dividends, distributions, sales, transfers or contributions, with limited exceptions
Read the filing on SEC.gov ↗
May 26, 4:15 PM ET
Cogent Communications Holdings, through its subsidiary Cogent Fiber, LLC, agreed on May 22, 2026 to sell 10 data center facilities, with certain personal property and customer contracts, to an affiliate of I Squared Capital for $225 million in cash. The company will guarantee certain obligations of the seller, and the sale is expected to close on the later of June 12, 2026 or after HSR antitrust approval, which shareholders can track against the November 18, 2026 termination date.
- Purchase price is $225 million in cash for 10 facilities located in Phoenix, Anaheim, Burbank, Stockton, Atlanta, Chicago, Elkridge, Kansas City, Nashville and Houston.
- Expected closing is the later of June 12, 2026 or expiration or termination of the Hart-Scott-Rodino waiting period.
- Either party may terminate the agreement if the sale is not completed by November 18, 2026, subject to certain limitations.
- Cogent agreed to guarantee certain obligations of the seller under the Purchase Agreement.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.