Q1 26 EPS
$-0.83
BEAT +15.31%
Est. $-0.98
Q1 26 Revenue
$239.2M
MISS 0.94%
Est. $241.4M
vs S&P Since Q1 26
-43.9%
TRAILING MARKET
CCOI -42.4% vs S&P +1.5%
Market Reaction
Did CCOI Beat Earnings? Q1 2026 Results
Cogent Communications delivered a mixed first quarter for 2026, posting a narrower-than-expected loss that offered investors some relief even as revenue fell short of forecasts. The company reported a net loss of $0.83 per share, clearing the consens… Read more Cogent Communications delivered a mixed first quarter for 2026, posting a narrower-than-expected loss that offered investors some relief even as revenue fell short of forecasts. The company reported a net loss of $0.83 per share, clearing the consensus estimate of $0.98 by 15.31%, while revenue of $239.19 million missed expectations by 0.94% and slipped 3.2% year-over-year, reflecting the continued runoff of legacy Sprint wireline connections following its 2023 acquisition from T-Mobile. Off-net revenue, which bore the heaviest drag, fell 17.0% year-over-year to $89.02 million as legacy Sprint customer connections declined, partly offsetting meaningful progress elsewhere. The wavelength business, seen by analysts as a key bellwether for AI-driven demand, surged 90.8% year-over-year to $13.59 million, while on-net revenue climbed 4.6% to $135.57 million. Adjusted EBITDA rose 2.1% to $70.18 million, with margins expanding to 29.3% from 27.8%, and GAAP gross margin improved sharply to 23.4% from 13.6% a year earlier, aided by significantly lower depreciation and amortization charges.
Key Takeaways
- • Wavelength revenue grew 90.8% year-over-year with customer connections increasing 71.2%
- • On-net revenue increased 4.6% year-over-year
- • IPv4 address leasing revenue increased 24.8% year-over-year
- • GAAP gross margin improved to 23.4% from 13.6% a year ago driven by lower depreciation
- • IP network traffic increased 14% year-over-year
- • Off-net revenue declined 17.0% year-over-year due to Sprint wireline customer attrition
- • Foreign exchange rates positively impacted year-over-year service revenue by $3.4 million
CCOI YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CCOI Revenue by Segment
With YoY comparisons, source: SEC Filings
CCOI Earnings Trends
CCOI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CCOI EPS Trend
Earnings per share: estimate vs actual
CCOI Revenue Trend
Quarterly revenue: estimate vs actual
CCOI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.98 | $-0.83 | +15.31% | $239.2M | -0.94% |
| Q4 25 BEAT FY | $-1.07 | $-0.64 | +40.37% | $240.5M | -1.33% |
| FY Full Year | $-4.28 | $-3.80 | +11.21% | $975.8M | -0.33% |
| Q3 25 BEAT | $-1.22 | $-0.87 | +28.69% | $241.9M | -1.70% |
| Q2 25 MISS | $-1.18 | $-1.21 | -2.83% | $246.2M | -0.58% |
| Q1 25 BEAT | $-1.11 | $-1.09 | +1.36% | $247.0M | -1.76% |