CCOI news

COGENT COMMUNICATIONS HOLDINGS INC reported a 1.8% sequential decline in service revenue to $231.2 million for Q3 2026, offset by adjusted EBITDA growth and aggressive debt buybacks totaling $168.8 million in the quarter.

Cogent reported a Q2 2026 loss of $9.2 million and a decline in service revenue despite gains from selling data centers and purchasing its own secured notes. The company reduced its net leverage ratio to 6.23 and increased its dividend.

Cogent closed the sale of 10 data center facilities for $225 million in cash to an entity sponsored by I Squared Capital. This strategic divestiture strengthens the company's balance sheet and liquidity position.

Cogent Communications obtained requisite bondholder consent to amend its indenture for 6.500% senior secured notes due 2032. The supplemental indenture modifies terms including the definition of data center proceeds, affecting the debt structure of the telecommunications company.