Quarterly ResultMay 4, 2026, 07:11 AM
Cogent Q1 Service Revenue $239.2M; Adjusted EBITDA $70.2M
AI Summary
Cogent Communications reported its first quarter 2026 financial results, with service revenue reaching $239.2 million, a slight sequential decrease. Despite the overall revenue dip, the company saw strong growth in wavelength revenue and on-net revenue. Adjusted EBITDA increased year-over-year, and the company's Board approved a regular quarterly dividend.
Key Highlights
- Service revenue was $239.2 million for Q1 2026, a 0.6% sequential decrease and 3.2% YoY decrease.
- Wavelength revenue increased by 12.3% sequentially to $13.6 million for Q1 2026, and 90.8% YoY.
- On-net revenue increased by 1.0% sequentially to $135.6 million for Q1 2026, and 4.6% YoY.
- Revenue from leasing IPv4 addresses increased by 3.9% sequentially to $18.0 million for Q1 2026, and 24.8% YoY.
- EBITDA, as adjusted, was $70.2 million for Q1 2026, a 2.1% increase from Q1 2025.
- Adjusted EBITDA margin was 29.3% for Q1 2026, up from 27.8% in Q1 2025.
- Net loss per share was $(0.83) for Q1 2026, compared to $(0.64) in Q4 2025 and $(1.09) in Q1 2025.
- Cogent approved a quarterly dividend of $0.02 per share for Q2 2026, payable June 2, 2026.