Cogent Communications Q1 revenue slips to $239.2 million; net loss is $39.5 million
Cogent reported first-quarter 2026 service revenue of $239.2 million, down 0.6% from the fourth quarter of 2025 and down 3.2% from the first quarter of 2025, with a net loss of $39.5 million, or $0.83 per share. Adjusted EBITDA was $70.2 million, up 2.1% from a year earlier but down 8.5% from the prior quarter, and the board approved a $0.02 per share quarterly dividend.
Key points
- Service revenue was $239.2 million, down 0.6% sequentially and 3.2% year over year; off-net revenue fell 17.0% year over year.
- Net loss was $39.5 million, or $(0.83) per share, compared with a net loss of $30.8 million in Q4 2025 and $52.0 million in Q1 2025.
- EBITDA, as adjusted for IP Transit Services Agreement payments, was $70.2 million with a 29.3% margin; wavelength revenue rose 90.8% year over year to $13.6 million.
- Board approved a $0.02 per share dividend payable June 2, 2026, to shareholders of record on May 18, 2026.
The filing
Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.