Cogent Communications Holdings reported second-quarter 2026 results with revenue of $235.6M, a year‑over‑year decline, while net income returned to a profit of $66.6M and diluted EPS improved to $1.38 versus a loss and negative EPS in the year‑ago quarter.
Financial Highlights
- Revenue: $235.6M for Q2 2026, down from $246.2M in the year‑ago quarter ( (4.3% )).
- Net income: $66.6M for Q2 2026, versus a loss of $(57.8)M in the year‑ago quarter (turnaround YoY).
- Diluted EPS: $1.38 for Q2 2026, versus $(1.21) in Q2 2025 (improvement YoY).
Business Highlights
- Service revenue declined about 4% YoY, driven by cancellations of low‑margin Cogent Fiber customers even as wavelength and on‑net revenue grew.
- Mix shifted toward higher‑margin offerings: on‑net revenue increased roughly 2–3% and wavelength sales jumped 64% sequentially.
- Completed integration work on Sprint/Cogent Fiber assets, converting 52 data centers and 87 edge sites and repurposing facilities.
- Expanded network reach to 1,137 optical wave locations; on‑net buildings rose to 3,627 with about 88k on‑net connections and 65k net‑centric connections.
- Monetization and efficiency moves included a $224M data center sale and pruning of off‑net and non‑core customers to improve margins.
Original SEC Filing:
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