Filing Flows › Cogent Communications Holdings (CCOI) › Q1 2026
Cogent Communications Holdings (CCOI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Cogent Communications Holdings (CCOI) reported revenue of $239M for the first quarter 2026 (Q1 2026), -3% from a year earlier and -0.6% from the quarter before. Operating margin was -5.6%, net loss $39.5M (16.5% of revenue).
Cogent Communications Holdings, Q1 2026: revenue $239M (-3% year over year), operating margin -5.6%, net loss $39.5M, operating cash flow $14.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $239M | -0.6% | -3% |
| Operating profit | −$13.5M | — | — |
| Net earnings | −$39.5M | — | — |
| Operating cash flow | $14.8M | — | -59% |
What changed
Revenue was $239.2M in Q1 2026, down 3% year over year and down 1% from the previous quarter. On-net IP was the largest line at 57% of revenue. Off-net IP lost $18.3M year over year (down 17%), 232% of the total change.
Operating costs exceeded revenue by $13.5M, an operating margin of -5.6%. Total costs fell 12% while revenue fell 3%. The quarter ended with a net loss of $39.5M, wider than the previous quarter's $30.8M loss. Net interest and other expense of $37.5M was the main reason.
Operating cash flow was $14.8M (down 59% year over year). Non-cash charges added back $54.1M of depreciation and amortization and $7.6M of share-based compensation. Working capital and other items used $7.2M. Capital expenditures of $46.2M exceeded it, leaving free cash flow of −$31.4M.
Questions
What was Cogent Communications Holdings' revenue in the first quarter 2026?
Cogent Communications Holdings (CCOI) reported revenue of $239M for the first quarter 2026 (Q1 2026), -3% from a year earlier and -0.6% from the quarter before.
Was Cogent Communications Holdings profitable in the first quarter 2026?
Operating loss was $13.5M (-5.6% of revenue) and net loss $39.5M.