Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Q4 2023 Earnings Conference Call February 29, 2024 8:30 AM ET Company Participants Dave Schaeffer - Chief Executive Officer Thaddeus Weed - Chief Financial Officer Conference Call Participants Anton Rinnert - Cowen Alex Waters - Bank of America Walter Piecyk - LightShed Ventures Nick Del Deo - MoffettNathanson Tim Horan - Oppenheimer Michael Rollins - Citi Bora Lee - RBC Capital Markets Brandon Nispel - KeyBanc Capital Markets Operator Good morning, and wel ...

Cogent Communications (CCOI) reported $272.1 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 79%. EPS of -$0.16 for the same period compares to $0.03 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $275.82 million, representing a surprise of -1.35%. The company delivered an EPS surprise of +83.16%, with the consensus EPS estimate being -$0.95.While investors closely watch year-over-year changes in headline numbers -- revenue and e ...

Year Ended December 31, 2023 Compared to the Year Ended December 31, 2022 (2) Includes non-cash equity-based compensation expense of $25,855 and $23,886 for 2023 and 2022, respectively. Service Revenue. We continually work to grow our total service revenue by increasing the number of potential customers that we can reach on our network. We do this by investing capital to expand the geographic footprint of our network, increasing the number of buildings that we are connected to, including CNDC's and MTOB's, ...

Exhibit 99.1 Cogent Communications Reports Fourth Quarter and Full Year 2023 Results and Increases its Regular Quarterly Dividend on its Common Stock · The gain on bargain purchase from the Sprint acquisition was $254.0 million for Q4 2023 and was $1.4 billion for full year 2023. o Included in the gain on bargain purchase in Q4 2023 and full year 2023 was the estimated fair value of acquired IPv4 internet addresses totaling $458.0 million. · Basic and fully diluted earnings per share for Q4 2023 were $4.23 ...

The market expects Cogent Communications (CCOI) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 29, 2024, might help the stock move higher if these ke ...

WASHINGTON, Feb. 7, 2024 /PRNewswire/ -- Cogent Communications Holdings, Inc. ("Cogent") (NASDAQ: CCOI) will host a conference call at 8:30 a.m. (ET) on February 29, 2024 to present Cogent's operating results for the fourth quarter and full year of 2023 and answer questions. Cogent will issue a press release announcing the operating results at 7:00 a.m. (ET) on February 29, 2024. Participation is open to all parties and this call may be accessed as follows: Dial-in Numbers:  1-888-596-4144 for U.S. and ...

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Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Q3 2023 Earnings Conference Call November 9, 2023 8:30 AM ET Company Participants Dave Schaeffer - Chief Executive Officer Thaddeus Weed - Chief Financial Officer Conference Call Participants Gregory Williams - TD Cowen Frank Louthan - Raymond James Financial, Inc. Walter Piecyk - LightShed Partners Timothy Horan - Oppenheimer & Co. Inc. Nick Del Deo - MoffettNathanson LLC Brandon Nispel - KeyBanc Capital Markets Michael Rollins - Citigroup Global Markets O ...

Revenue and Customer Growth - Average Revenue Per Unit (ARPU) for on-net customers increased by 4.9% to $482, while off-net ARPU rose by 28.0% to $1,194 compared to the same period last year[104]. - Customer connections at the end of the period reached 89,623 for on-net, an increase of 8.5%, and 36,766 for off-net, a significant increase of 175.2%[104]. - Service revenue for the three months ended September 30, 2023, was $275.429 million, compared to $150 million for the same period in 2022, representing an increase of 83.6%[145]. - Service revenue for the nine months ended September 30, 2023, was $668.8 million, a 49.5% increase from $447.6 million in the same period of 2022[1]. - The company recorded an increase in revenues of $18.5 million from taxes billed to customers, including the Universal Service Fund, for the nine months ended September 30, 2023[105]. - The acquisition of Sprint Business resulted in revenue of $191.0 million and a pre-tax loss of $141.6 million for the nine months ended September 30, 2023[163]. Financial Performance - The company reported net cash provided by operating activities of $66,043 thousand for the nine months ended September 30, 2023, down from $137,384 thousand in the same period last year[115]. - The net loss for the three months ended September 30, 2023, was $56.723 million, compared to a net loss of $8.007 million for the same period in 2022, indicating a deterioration in financial performance[145]. - Basic and diluted net loss per common share for the three months ended September 30, 2023, was $(1.20), compared to $(0.17) for the same period in 2022[145]. - The company reported a comprehensive loss of $60.857 million for the three months ended September 30, 2023, compared to a comprehensive loss of $15.759 million for the same period in 2022[145]. - The company recognized a net income of $1.073 billion for the nine months ended September 30, 2023, compared to a net loss of $19.2 million in the previous year[241]. - The company recorded a gain on bargain purchase of $1.2 billion related to the Sprint acquisition[163]. Dividends and Shareholder Returns - The Board of Directors approved a quarterly dividend of $0.955 per common share, amounting to an estimated $45.1 million, expected to be paid on December 8, 2023[118]. - The company has returned over $1.4 billion to stockholders through share repurchases and dividends since its initial public offering[112]. - Dividends declared per common share increased to $0.945 for the three months ended September 30, 2023, compared to $0.905 for the same period in 2022[145]. Assets and Liabilities - Total current assets increased to $581.3 million as of September 30, 2023, compared to $365.9 million at December 31, 2022, representing a 58.8% increase[1]. - Total assets reached $2.96 billion, up from $1.01 billion at the end of 2022, marking a 194.5% increase[1]. - Total liabilities rose to $2.52 billion, compared to $1.53 billion at December 31, 2022, reflecting a 64.7% increase[1]. - The company reported an accumulated deficit of $136.7 million as of September 30, 2023, a significant improvement from an accumulated deficit of $1.07 billion at the end of 2022[1]. - The company’s total stockholders' equity improved to $442.1 million from a deficit of $518.6 million at the end of 2022[1]. Operating Expenses - Total operating expenses for the three months ended September 30, 2023, were $325.987 million, up from $121.235 million in the same period last year, reflecting a significant increase of 169.5%[145]. - Total operating expenses for the nine months ended September 30, 2023, were $729.7 million, up from $361.0 million in the prior year, representing a 102.2% increase[1]. - The company incurred $3.7 million in professional fees related to the acquisition of Sprint Communications, with $1.5 million incurred in the nine months ended September 30, 2023[1]. Cash Flow and Liquidity - The company’s cash and cash equivalents decreased to $109.7 million from $223.8 million at the end of 2022, a decline of 50.9%[1]. - Cash receipts from the IP Transit Agreement with T-Mobile amounted to $116.667 million during the nine months ended September 30, 2023[148]. - The company received $116.7 million under the IP Transit Services Agreement during the nine months ended September 30, 2023, with total payments expected to reach $700 million[1]. Acquisitions and Agreements - The acquisition of Sprint Business resulted in a cash outflow of $14.037 million, net of cash acquired[148]. - The company has committed to additional dark fiber IRU lease agreements totaling $167.0 million in future payments over periods of up to 20 years, expected to begin within the next 12 months[245]. - Transition Services are intended to be provided for up to two years post-Closing Date, with fees calculated on a per service monthly fee or hourly rate[298]. Lease and Financing - The company recorded $147.5 million of unfavorable lease liabilities due to leases with terms greater than current market rates, which are being amortized into network operations expenses[247]. - Total minimum lease obligations for operating leases are projected to be $612.8 million, while finance leases total $745.3 million, indicating substantial future commitments[246]. - The weighted-average discount rate for finance leases decreased to 7.6% from 8.6% year-over-year, indicating a potential reduction in financing costs[244].