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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Cogent Communications Holdings, Inc.

CIK: 1158324 Ticker: CCOI

 

Exhibit 99.1

 

  FOR IMMEDIATE RELEASE

 

Cogent Contacts:   
For Public Relations:  For Investor Relations:
Jocelyn Johnson  Sean Wallace
+ 1 (202) 295-4299  + 1 (202) 295-4202
jajohnson@cogentco.com  investor.relations@cogentco.com

 

Cogent Communications Reports Second Quarter Results and Increases its Regular Quarterly Dividend on its Common Stock by $0.025

 

Financial and Business Highlights 

 

·Cogent approved an increase of $0.025 per share to its regular quarterly dividend for a total of $0.805 per share for Q3 2021 as compared to $0.780 per share for Q2 2021 – Cogent’s thirty-sixth consecutive quarterly dividend increase.
oThe Q3 2021 $0.805 dividend per share represents an annual increase of 14.2% from the dividend per share of $0.705 for Q3 2020.
·Service revenue increased by 0.8% from Q1 2021 to Q2 2021 and increased from Q2 2020 to Q2 2021 by 4.9%.
·GAAP gross profit increased by 3.6% from Q2 2020 to $69.6 million for Q2 2021. Non-GAAP gross profit increased by 5.1% from Q2 2020 to $91.8 million for Q2 2021.
oGAAP gross margin decreased by 60 basis points from Q2 2020 to Q2 2021 to 47.1%. Non-GAAP gross margin increased by 10 basis points from Q2 2020 to Q2 2021 to 62.1%.
·Net cash provided by operating activities was $39.7 million for Q2 2021, $47.1 million for Q1 2021 and $41.3 million for Q2 2020.
·Sales rep productivity – units per full time equivalent sales rep per month - increased from 4.3 for Q1 2021 to 4.5 for Q2 2021.
·EBITDA margin increased by 90 basis points from Q1 2021 to 38.7% for Q2 2021 and increased by 90 basis points from Q2 2020 to Q2 2021.
·EBITDA increased by 2.9% from Q1 2021 to $57.2 million for Q2 2021 and increased by 7.2% from Q2 2020.
·Cogent issued $500.0 million of Senior Secured Notes due in 2026 in May for net proceeds of $496.9 million.  The net proceeds were used to redeem and extinguish its remaining $329.1 million of its Senior Secured Notes due in 2022 and to provide cash for general corporate purposes including to dividend cash from its operating companies to Cogent Holdings, Inc.

 

[WASHINGTON, D.C. August 5, 2021]

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (“Cogent”) today announced service revenue of $147.9 million for the three months ended June 30, 2021, an increase of 0.8% from the three months ended March 31, 2021 and an increase of 4.9% from the three months ended June 30, 2020. Foreign exchange positively impacted service revenue growth from the three months ended March 31, 2021 to the three months ended June 30, 2021 by $0.2 million and positively impacted service revenue growth from the three months ended June 30, 2020 to the three months ended June 30, 2021 by $3.0 million. On a constant currency basis, service revenue increased by 0.8% from the three months ended March 31, 2021 to the three months ended June 30, 2021 and grew by 2.8% from the three months ended June 30, 2020 to the three months ended June 30, 2021.

 


The following information was filed by Cogent Communications Holdings, Inc. (CCOI) on Thursday, August 5, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Comprehensive (Loss) Income
Condensed Consolidated Statements Of Comprehensive (Loss) Income (Parenthetical)
Commitments And Contingencies:
Commitments And Contingencies: Current And Potential Litigation (Details)
Common Stock Buyback Program:
Common Stock Buyback Program: (Details)
Description Of The Business And Recent Developments:
Description Of The Business And Recent Developments: (Details)
Description Of The Business And Recent Developments: (Policies)
Description Of The Business And Recent Developments: (Tables)
Description Of The Business And Recent Developments: Allowance For Credit Losses (Details)
Description Of The Business And Recent Developments: Allowance For Doubtful Accounts (Details)
Description Of The Business And Recent Developments: Basic And Diluted Net Income Per Common Share (Details)
Description Of The Business And Recent Developments: Financial Instruments (Details)
Description Of The Business And Recent Developments: Gross Receipts Taxes, Universal Service Fund And Other Surcharges (Details)
Description Of The Business And Recent Developments: Leases (Details)
Description Of The Business And Recent Developments: Recent Accounting Pronouncements - To Be Adopted (Details)
Description Of The Business And Recent Developments: Revenue Recognition (Details)
Description Of The Business And Recent Developments: Stockholders' Deficit (Details)
Dividends On Common Stock:
Dividends On Common Stock: (Details)
Income Taxes:
Income Taxes: (Tables)
Income Taxes: Components Of (Loss) Income Before Income Taxes (Details)
Long-Term Debt:
Long-Term Debt: 2024 Notes Issuances (Details)
Long-Term Debt: Debt Extinguishment And Redemptions Of 2022 Notes (Details)
Long-Term Debt: Limitations Under The Indentures (Details)
Property And Equipment:
Property And Equipment: (Details)
Property And Equipment: Installment Payment Agreement (Details)
Related Party Transactions:
Related Party Transactions: (Details)
Segment Information:
Segment Information: (Details)
Segment Information: (Tables)

Material Contracts, Statements, Certifications & more

Cogent Communications Holdings, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CCOI
CIK: 1158324
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-21-100548
Submitted to the SEC: Thu Aug 05 2021 10:52:38 AM EST
Accepted by the SEC: Thu Aug 05 2021
Period: Wednesday, June 30, 2021
Industry: Communications Services

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