Filing Flows › Communication Services › Cogent Communications Holdings (CCOI)
Cogent Communications Holdings (CCOI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Cogent Communications Holdings (CCOI) Q3 2026 earnings results →
Q3 2026 Revenue down 4% year over year to $231M · 13¢ of every $1 of revenue lost · operating margin -3.0%
Cogent Communications Holdings made $231M in Q3 2026 (-4% Y/Y): On-net $138M, Off-net $76.6M, Wavelength $16.0M. Operating margin -3.0%, net loss $29.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $231.2M in Q3 2026, down 4% year over year and down 2% from the previous quarter. On-net was the largest line at 60% of revenue. Off-net lost $18.5M year over year (down 19%), 172% of the total change.
Operating costs exceeded revenue by $6.9M, an operating margin of -3.0%. Total costs fell 8% while revenue fell 4%. The quarter ended with a net loss of $29.8M, after a profit of $66.6M the previous quarter. Net interest and other expense of $26.9M was the main reason.
Operating cash flow was $3.8M (up 22% year over year). Non-cash charges added back $53.1M of depreciation and amortization and $7.9M of share-based compensation. Working capital and other items used $27.5M. Capital expenditures of $36.3M exceeded it, leaving free cash flow of −$32.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $231M | -4% | -3.0% | −$29.8M | $3.8M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $236M | -4% | 50.5% | $66.6M | $3.2M |
| Q1 2026 | 10-Q | May 4, 2026 | $239M | -3% | -5.6% | −$39.5M | $14.8M |
| Q4 2025 | 10-K | Feb 20, 2026 | $241M | -5% | -4.7% | −$30.8M | −$6.0M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $242M | -6% | -7.5% | −$41.5M | $3.1M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $246M | -6% | -12.8% | −$57.8M | −$44.0M |
| Q1 2025 | 10-Q | May 8, 2025 | $247M | -7% | -16.3% | −$52.0M | $36.4M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
- ANET · Stated in 10-K (named, share not stated) · source
- CSCO · Stated in 10-K (named, share not stated) · source
About Cogent Communications Holdings
We are a facilities-based provider of low-cost, high-speed Internet access, private network services, optical wavelength and optical transport services and data center colocation space and power. Our network is specifically designed and optimized to transmit packet-routed data. We deliver our services to a diverse global base of businesses, communications service providers and other bandwidth-intensive organizations in 57 countries across North America, Europe, South America, Asia, Oceania and Africa. We are a Delaware corporation headquartered in Washington, DC.
In its own words, from its 10-K, filed Feb 20, 2026.
Cogent Communications Holdings against its Communications Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median +3%. Operating margin: -3.0% against the peers' median 5.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CCOI Cogent Communications Holdings | Q3 2026 | $231M | -4% | -3.0% |
| VSAT Viasat | Q2 FY27 | $1.2B | +3% | 0.6% |
| ECHO EchoStar | Q3 2026 | $1.1B | -69% | 13.1% |
| CALX Calix | Q3 2026 | $302M | +14% | 5.5% |
| IRDM Iridium Communications | Q3 2026 | $246M | +8% | 12.9% |
| GOGO Gogo | Q3 2026 | $213M | -5% | 8.0% |
| GSAT Globalstar | Q3 2026 | $70.9M | -4% | 10.7% |
| KVHI KVH Industries | Q3 2026 | $38.4M | +35% | -3.2% |
| ASTS AST SpaceMobile | Q2 2026 | $31.5M | 27× | -948.0% |
Source: Cogent Communications Holdings 10-Q on SEC EDGAR · CIK 1158324 · Communications Services, NEC
Guidance and outlook
13F: who owns CCOI and who is buying
More on CCOI
- How Cogent Communications Holdings makes money: revenue by segment
- Cogent Communications Holdings next earnings date and what analysts expect
- Cogent Communications Holdings stock forecast, price target and fair value
- Who owns Cogent Communications Holdings stock: holders, funds and Congress trades
- Cogent Communications Holdings guidance and outlook
- Is Cogent Communications Holdings a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results