Cogent Communications Hldgs In Stock Price, News & Analysis

Cogent Communications (NASDAQ: CCOI), a leading global Internet service provider, has announced that CEO Dave Schaeffer will present at three upcoming conferences in September 2024:

• The Citi 2024 Global TMT Conference in New York on September 4 at 1:20 p.m. ET
• The BofA Securities 2024 Media, Communications and Entertainment Conference in New York on September 5 at 10:30 a.m. ET
• The Goldman Sachs 2024 Communacopia & Technology Conference in San Francisco on September 9 at 10:10 a.m. PT

Investors can access live audio webcasts of these presentations through the 'Events' section of Cogent's website. Replays will be available for 90 days after each presentation.

Cogent Communications (NASDAQ: CCOI) reported Q2 2024 results, highlighting service revenue of $260.4 million, an 8.6% increase YoY but a 2.2% decrease QoQ. The company's EBITDA margin improved to 10.4%, and Non-GAAP gross margin rose to 40.2%.

Key actions included issuing $206 million in 7.9% IPV4 Securitized Notes and $300 million in 7.0% Unsecured Notes. They also repurchased 153,322 shares for $8 million and increased their dividend to $0.985 per share.

On-net revenue grew by 1.5% QoQ and 10.3% YoY to $140.6 million, while off-net revenue declined by 5.7% QoQ but increased by 9.3% YoY. Wavelength revenue surged by 128.7% YoY.

GAAP gross profit decreased by 39.3% YoY but improved by 14.8% QoQ. The company faced challenges with reduced net cash from operations and rising costs related to the Sprint acquisition.

Overall, Cogent's financial health shows mixed results, balancing revenue growth with operational costs and strategic investments.

Cogent Communications Holdings, Inc. (NASDAQ: CCOI), a leading global Internet service provider, has announced a change in webcast information for an upcoming conference. CEO Dave Schaeffer will present at the BofA SMID Cap Conference on Tuesday, August 6th at 2:00 p.m. ET. The conference is being held virtually and will not be webcast live.

However, investors and interested parties can access an audio replay of the presentation through the 'Events' section of Cogent's website at www.cogentco.com/events. The replay will be available for 90 days following the presentation.

Cogent Communications (NASDAQ: CCOI), a leading global Internet service provider, has announced that CEO Dave Schaeffer will present at four upcoming conferences in August 2024. These include:

• The KeyBanc Capital Markets Technology Leadership Forum in Vail, CO (August 5th)
• The BofA SMID Cap Conference (virtual, August 6th)
• The 27th Annual Oppenheimer Technology, Internet & Communications Conference (virtual, August 12th)
• The 10th Annual TD Cowen Communications Infrastructure Summit in Boulder, CO (August 13th)

Investors can access live audio webcasts of these presentations through the 'Events' section of Cogent's website, with replays available for 90 days after each event.

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has announced it will host a conference call on August 8, 2024, at 8:30 a.m. ET to present its second quarter 2024 operating results. The company will issue a press release with the results at 7:00 a.m. ET on the same day. Investors and interested parties can access the call via phone or internet. The dial-in numbers are 1-888-596-4144 for U.S. and Canadian callers, and 1-646-968-2525 for international callers, using Conference ID 6641307. An audio webcast will be available on Cogent's website under the 'Events' section and will remain accessible until August 22, 2024. Cogent recommends callers dial in 15 minutes before the start of the call.

Cogent Communications announced a $300 million offering of 7.000% senior notes due 2027. These notes will be sold to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. Proceeds will be used to prepay an existing $125 million agreement and for general corporate purposes, including potential dividends. The new notes are similar to existing 7.00% senior notes but will not be fungible with them. There is no assurance of the notes' sale completion.

Cogent Communications reported service revenue of $266.2 million for Q1 2024, a decrease of 2.2% from Q4 2023. The company increased its regular quarterly dividend by $0.01 per share to $0.975 per share for Q2 2024, marking the forty-seventh consecutive quarterly dividend increase.

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) announced that their CEO, Dave Schaeffer, will be presenting at three upcoming conferences in May 2024. This includes the 2024 MoffettNathanson Media & Communications Conference, the J.P. Morgan Global Technology, Media and Communications Conference, and the TD Cowen Technology, Media & Telcom Conference. Investors can access live audio webcasts of the presentations on Cogent's website.