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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

Cogent Communications Holdings, Inc.

CIK: 1158324 Ticker: CCOI

 

Exhibit 99.1

 

FOR IMMEDIATE RELEASE
   

 

Cogent Contacts:  
For Public Relations: For Investor Relations:
Jocelyn Johnson John Chang
+ 1 (202) 295-4299 + 1 (202) 295-4212
jajohnson@cogentco.com investor.relations@cogentco.com

 

Cogent Communications Reports First Quarter 2022 Results, Increases its Regular Quarterly Dividend on its Common Stock by $0.025 and Appoints CFO

 

Financial and Business Highlights

 

Effective April 29, 2022 Sean Wallace resigned his position as Cogent’s Chief Financial Officer and will remain with Cogent to assist with the transition through Friday May 6
th. Thaddeus ‘’Tad” Weed, Cogent’s Senior Vice President of Audit & Operations, has been appointed to again serve as Cogent’s Chief Financial Officer.

Cogent approved an increase of $0.025 per share to its regular quarterly dividend for a total of $0.880 per share for Q2 2022 as compared to $0.855 per share for Q1 2022 – Cogent’s thirty-ninth consecutive quarterly dividend increase.

oThe Q2 2022 $0.880 dividend per share represents an annual increase of 12.8% from the dividend per share of $0.780 for Q2 2021.

Service revenue increased from Q4 2021 to Q1 2022 by 1.3% and increased from Q1 2021 to Q1 2022 by 1.6%.

oService revenue, on a constant currency basis, increased from Q4 2021 to Q1 2022 by 1.7% and increased from Q1 2021 to Q1 2022 by 2.9%.

oService revenue, on a constant currency basis and adjusted for the impact of excise tax revenues, increased from Q4 2021 to Q1 2022 by 2.1% and increased from Q1 2021 to Q1 2022 by 3.5%.

Net cash provided by operating activities increased from Q4 2021 to Q1 2022 by 37.3% to $49.4 million for Q1 2022 and increased from Q1 2021 to Q1 2022 by 4.9%.

Sales rep productivity – units per full time equivalent sales rep per month - increased from 4.2 for Q4 2021 to 4.7 for Q1 2022.

EBITDA margin decreased by 70 basis points from Q4 2021 to 38.3% for Q1 2022 and increased by 50 basis points from Q1 2021 to Q1 2022.

EBITDA decreased by 0.4% from Q4 2021 to $57.2 million for Q1 2022 and increased by 2.9% from Q1 2021 to Q1 2022.

 


The following information was filed by Cogent Communications Holdings, Inc. (CCOI) on Friday, April 29, 2022 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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Assess how Cogent Communications Holdings, Inc.'s management team is paid from their Annual Proxy

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Cogent Communications Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Cogent Communications Holdings, Inc.'s 10-Q Quarterly Report:

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 Comprehensive Income (Loss)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Commitments And Contingencies
Commitments And Contingencies: Current And Potential Litigation (Details)
Common Stock Buyback Program And Stock Options And Award Plan
Common Stock Buyback Program And Stock Options And Award Plan (Details)
Description Of The Business
Description Of The Business (Policies)
Description Of The Business (Tables)
Description Of The Business: (Details)
Description Of The Business: Allowance For Credit Losses (Details)
Description Of The Business: Allowance For Doubtful Accounts (Details)
Description Of The Business: Basic And Diluted Net Income Per Common Share (Details)
Description Of The Business: Financial Instruments (Details)
Description Of The Business: Gross Receipts Taxes, Universal Service Fund And Other Surcharges (Details)
Description Of The Business: Leases (Details)
Description Of The Business: Revenue Recognition (Details)
Description Of The Business: 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: (Details)
Long-Term Debt: Limitations Under The Indentures (Details)
Property And Equipment
Property And Equipment: (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: 0001104659-22-056265
Submitted to the SEC: Thu May 05 2022 11:07:50 AM EST
Accepted by the SEC: Thu May 05 2022
Period: Thursday, March 31, 2022
Industry: Communications Services

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