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CCOI · Cogent Communications Holdings, Inc.

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$9.54 +0.06 (+0.63%) At close · Aug 31
S&P 600 member Russell 2000 member Rebalance outlook locked
Market Cap
$485.53M
Shares
51.22M

Price & Indicators

Indicators
Price
Panels
Event markers
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$9.54 Open$9.42 Day$9.19–9.68 52W close$9.17–45.10 Avg vol 30d1.6M Short int6.7M · 13.2% float · 3.2d Short vol59% Last earningsAug 6, 2026 DataJan 2020–Aug 2026 Filing10-Q · Aug 6

Up next

Next earnings call
Nov 9, 2026 Est · unconfirmed · in 10 wks
FQ3-26 quarter ends
~Sep 30, 2026 Est
Latest filing: 10-Q
filed Aug 6, 2026

AI Brief

Q1 FY26 earnings call · May 4, 2026
Q1 FY26

TL;DR. Cogent reported Q1 2026 service revenue of $239.2 million, down 0.6% sequentially and 3.2% year-over-year, while adjusted EBITDA of $70.2 million rose 2.1% year-over-year with margin expanding 150bps to 29.3%. The company advanced its deleveraging plan with a nonbinding LOI to sell 10 former Sprint data centers and reached a verbal agreement to amend the 2032 notes indenture in support of its 2027 refinancing.

Bullish
  • + EBITDA as adjusted rose 2.1% year-over-year to $70.2 million, with margin up 150bps to 29.3% new
  • + Wavelength revenue increased 90.8% year-over-year and 12.3% sequentially to $13.6 million, with connections up 71.2% year-over-year to 2,263 new
  • + On-net revenue grew 1.0% sequentially to $135.6 million and 4.6% year-over-year; on-net mix rose from 47% in Q3 2023 to 62% this quarter new
  • + IP Leasing revenue increased 4% sequentially and 25% year-over-year to $18 million new
  • + Nonbinding LOI signed to sell 10 former Sprint data centers, with due diligence essentially complete and closing expected early summer new
  • + Reached verbal agreement with majority 2032 noteholders to amend indenture, increasing ability to incur pari-passu secured debt to support refinancing of 2027 notes new
Bearish
  • − Total service revenue declined 3.2% year-over-year and 0.6% sequentially to $239.2 million new
  • − Off-net revenue decreased 17.0% year-over-year and 4.2% sequentially to $89.0 million new
  • − EBITDA as adjusted declined sequentially by $6.6 million due to a normal seasonal SG&A increase of $7.1 million (11%) new
  • − Sprint Enterprise (now Cogent Enterprise, ~88% off-net) is declining at an accelerated rate new
  • − Capital expenditures rose versus prior guidance, driven primarily by vendor price increases and preordering due to elongated 9-15 month vendor lead times new
  • − Corporate off-net has not shown significant improvement and aggregate vacancy in Cogent's footprint remains roughly triple pre-COVID levels new

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice
Overall
Strong Sell
SellHoldBuy
Technical Sell Momentum Very Weak Sentiment Neutral Fundamentals Weak Quant / Vol Very High
Market backdrop VIX 14.9 · calm Equity put/call 0.70
Technical
price trend
Sell
50 / 200-day cross No cross
Price vs 200-day avg −48%
below
Price vs 50-day avg −20%
below
RSI (14) 39
neutral
MACD trend Positive
52-week position 1%
near low
Momentum
relative strength
Very Weak
1-month return −28%
trailing
6-month return −57%
trailing
YTD return −56%
this year
Relative strength −70%
vs S&P · 6-mo
Sentiment
smart money
Neutral
Trend (MA cross) No cross
50d $12 › 200d $18 — 200d above 50d
Institutional flow Distributing
-5% holders QoQ · +43 funds added
Insider flow Distributing
Net -$122.3K over 90 days · 100% sells
Short interest Falling
13.18% of float · ▼ -3.0% MoM · 3.2 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr low
229 holders — near 3-yr low, contrarian setup
Squeeze score 55
elevated · 0–100
Fundamentals
Weak
Revenue growth −6%
Y/Y
EPS growth +11%
Y/Y
Free cash flow $-198.1M
Buyback $105.8M
remaining
Balance sheet $1.6B
net debt
Quant / Vol
risk profile
Very High
Volatility 90%
annualized · 1-yr
Max drawdown −80%
past year
ATR 9.7%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Latest guidance · from the Earnings Call filed Dec 31, 2025
Revenue growth · multiyear 6% – 8%
Prior guidance period ended · from the Earnings Call filed Sep 30, 2023
Monthly run rate for wavelength sales · May of 2024 $8M
Wavelength revenue · second quarter of 2024 $20M

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Sell
3 · 2 · 1
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
−48% Bearish
Price vs 50-day avg
−20% Bearish
RSI (14)
39 Neutral
MACD trend
Positive Bullish
52-week position
1% Bearish
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross) No cross
50d $12 › 200d $18 — 200d above 50d
Institutional flow Distributing
-5% holders QoQ · +43 funds added
Insider flow Distributing
Net -$122.3K over 90 days · 100% sells
Short interest Falling
13.18% of float · ▼ -3.0% MoM · 3.2 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr low
229 holders — near 3-yr low, contrarian setup
Price context
position in its 52-week range
Range low $9 Now $10 · 1% Range high $45
vs 200-day avg -48% vs 50-day avg -20%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
ARPU off-net $1,197 three months ended June 30, 2026 filing —
ARPU on-net $513 three months ended June 30, 2026 filing —
ARPU wavelength $2,100 three months ended June 30, 2026 filing —
Average Price per Megabit installed base $0.11 three months ended June 30, 2026 filing —
Consolidated Leverage Ratio for the Reference Period non-GAAP 5.94 As of June 30, 2026 —
Consolidated Leverage Ratio for the Reference Period - 600.0 million Secured 2032 Notes non-GAAP 4.56 Q2 2026 —
GAAP → non-GAAP reconciliation
GAAP Net cash provided by (used in) operating activities 3.2M
-422K Changes in operating assets and liabilities
+43.33M Cash interest expense and income tax expense
= EBITDA 46.1M
EBITDA, as adjusted for cash payments made to the Company under IP Transit Services Agreement non-GAAP $71.1M Q2 2026 —
GAAP → non-GAAP reconciliation
GAAP EBITDA 46.1M
+25M Cash payments made to the Company under IP Transit Services Agreement
= EBITDA, as adjusted for cash payments made to the Company under IP Transit Services Agreement 71.1M
Fixed Charge Coverage Ratio for the Reference Period non-GAAP 2.28 As of June 30, 2026 —
Fixed Charge Coverage Ratio for the Reference Period - 600.0 million 2032 Notes non-GAAP 2.97 Q2 2026 —
Gross leverage ratio non-GAAP 8.02 As of June 30, 2026 —
Gross Leverage Ratio under the Company's Indentures non-GAAP 5.94 Q2 2026 —
Gross leverage ratio, adjusted for amounts Due from T-Mobile non-GAAP 7.5 As of June 30, 2026 —
Interest Coverage Ratio under the Company's Indentures non-GAAP 2.28 Q2 2026 —
Net leverage ratio non-GAAP 6.75 As of June 30, 2026 —
Net leverage ratio - 600.0 million Secured 2032 Notes non-GAAP 3.86 Q2 2026 —
Net leverage ratio, adjusted for amounts Due from T-Mobile non-GAAP 6.23 As of June 30, 2026 —
Net-centric customer connections under the CSA 1,803 Q2 2026 —
GAAP → non-GAAP reconciliation
GAAP GAAP Gross Profit 57.6M
+97K Equity-based compensation – network operations expense
+52.95M Depreciation and amortization expense
= Non-GAAP Gross Profit 110.65M
On-net buildings 3,627 Q2 2026 —
Secured Leverage Ratio for the Reference Period non-GAAP 3.67 As of June 30, 2026 —
Secured Leverage Ratio for the Reference Period - 600.0 million 2032 Notes non-GAAP 2.81 Q2 2026 —
Secured Leverage Ratio under the Company's Indentures non-GAAP 3.67 Q2 2026 —
Total cash and restricted cash $369.7M Q2 2026 —
Cash payments under IP Transit Services Agreement $25M Q1 2026 —
EBITDA, as adjusted for cash payments under IP Transit Services Agreement non-GAAP $70.18M Q1 2026 —
Constant currency and excise tax revenue percent increase (decrease) non-GAAP -0.8% Q4 2025 —
Constant currency percent revenue increase non-GAAP -5.7% Q4 2025 —
Constant currency revenue percent increase (decrease) non-GAAP -0.5% Q4 2025 —
EBITDA, as adjusted for Sprint acquisition costs and cash payments made to the Company under IP non-GAAP 76.74M Q4 2025 —
EBITDA, as adjusted for Sprint acquisition costs and cash payments under IP Transit Services Agr non-GAAP $76.74M Q4 2025 —
Trailing 12 months EBITDA, as adjusted for Sprint acquisition costs and cash payments from the I non-GAAP 292.79M As of December 31, 2025 —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Telecom Services — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
CCOI
Cogent Communications Holdings, Inc.
this stock
$485.53M -55.8% -5.8% — 13.2%
VZ
Verizon Communications Inc
 $208.15B +23.0% +2.5% 13.0 1.8%
TMUS
T-Mobile US, Inc.
 $194.55B -10.7% +8.3% 19.0 1.6%
SFTBF
Softbank Group Corp.
 $179.52B +11.7% — — 0.3%
T
At&T Inc.
 $178.23B +4.7% +2.7% 8.6 1.7%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Reducing
Holders
229
% held
94.8%
Net QoQ
-6.8M sh
Top holder
BlackRock, Inc.
Held Float
View
Held by Funds
Fund positions
203
View
Short & Settlement
Short Interest Falling
Shares short
6.7M
Days to cover
3.2d
Change
-206.3K sh
View
Short Volume
Short vol %
59%
As of
Aug 31, 2026
Short Total
View
Fails to Deliver
FTD shares
640
Value
$6.9K
As of
Aug 12, 2026
View
Off-Exchange
Off-exchange %
39.3%
Week of
Jul 27, 2026
Off-exch Lit
View
Smart Money
Insider Trades Net selling
Net (90d)
-$122.3K
Buyers / Sellers
0 / 2
Buyers Sellers
View
Congressional Trades Sell
Member
Donna Shalala
Amount
$1.0K–$15.0K
Traded
Jun 24, 2019
View
Financials
Financials
Net income (FY)
$-182.2M
EPS diluted
$-3.80
View
Buybacks
Remaining
$105.8M
View
Filings
SEC Filings
Latest
8-K
Filed
Aug 6, 2026
This year
14
View
Proposed Sales
Value
$81.4K
Shares
4.9K
Filed
Jun 16, 2026
View
Earnings & Events
Earnings Calls
Last call
Aug 6, 2026
View

Performance

5D 20D 120D MTD YTD
CCOI +0.5% -27.9% -56.7% -29.3% -55.8%
SPY +0.5% +3.0% +13.4% +3.0% +12.8%
vs SPY +0.1% -30.9% -70.1% -32.3% -68.6%

Capital returns

Latest dividend
$0.02 / share · ex Aug 21, 2026
Cut 98%
Paid (TTM)
$0.08 / share · 4 payouts
Dividend yield (TTM, derived)
0.84%
Buyback program · as of Jun 30, 2026
Authorized
—
Spent (derived)
—
Remaining
$105.80M

Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.

Key facts CIK 1158324 CUSIP 19239V302 13F (30d) 207 filings 185 filers Visit website Investor relations

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