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Cogent Communications Holdings, Inc. (CCOI) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 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 Second Quarter 2022 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 $0.905 per share for Q3 2022 as compared to $0.880 per share for Q2 2022 – Cogent’s fortieth consecutive quarterly dividend increase.

 

oThe Q3 2022 $0.905 dividend per share represents an annual increase of 12.4% from the dividend per share of $0.805 for Q3 2021.

 

Service revenue decreased from Q1 2022 to Q2 2022 by 0.5% and increased from Q2 2021 to Q2 2022 by 0.4%.

 

oService revenue, on a constant currency basis, increased from Q1 2022 to Q2 2022 by 0.4% and increased from Q2 2021 to Q2 2022 by 2.7%.

 

oService revenue, on a constant currency basis and adjusted for the impact of excise tax revenues, increased from Q1 2022 to Q2 2022 by 0.6% and increased from Q2 2021 to Q2 2022 by 3.6%.

 

EBITDA margin increased by 110 basis points from Q1 2022 to 39.4% for Q2 2022 and increased by 70 basis points from Q2 2021 to Q2 2022.

 

EBITDA increased by 2.3% from Q1 2022 to $58.5 million for Q2 2022 and increased by 2.2% from Q2 2021 to Q2 2022.

 

oNet cash provided by operating activities was $34.4 million for Q2 2022, $49.4 million for Q1 2022 and $39.7 million for Q2 2021. Included in net cash from operating activities for Q2 2022 are interest payments on Cogent note obligations totaling $16.8 million.

 

In June 2022 Cogent extinguished its 2024 €350.0 million Euro Notes at a Euro to USD rate of $1.06 (originally issued at a Euro to USD rate of $1.13) with the proceeds from the issuance of its $450.0 million 2027 Notes

 

Sales rep productivity – units per full time equivalent sales rep per month - increased from 4.7 for Q1 2022 to 4.9 for Q2 2022.

 


The following information was filed by Cogent Communications Holdings, Inc. (CCOI) on Thursday, August 4, 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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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)
Consolidated Statements Of Cash Flows (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: 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 Income (Loss) 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 (Details)
Segment Information:
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: 0001104659-22-086522
Submitted to the SEC: Fri Aug 05 2022 10:11:20 AM EST
Accepted by the SEC: Fri Aug 05 2022
Period: Thursday, June 30, 2022
Industry: Communications Services

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