Q2 2026 Financial Highlights
- Cogent sold ten of its owned data centers for net proceeds of $224.2 million resulting in a gain of $130.7 million in Q2 2026.
- Service revenue was $235.6 million for Q2 2026 and was $239.2 million for Q1 2026.
- On-net revenue, including wavelengths, increased by 0.7% sequentially from Q1 2026 to $150.2 million for Q2 2026 and increased by 6.2% from Q2 2025.
- EBITDA, as adjusted, was $71.1 million for Q2 2026 and increased by 1.3% from Q1 2026.
- EBITDA, as adjusted, margin was 30.2% for Q2 2026 and was 29.3% for Q1 2026.
- IP Network traffic for Q2 2026 increased by 2% from Q1 2026 and increased by 16% from Q2 2025.
- Total cash and restricted cash at the end of Q2 2026 was $369.7 million.
- Cogent approved a quarterly dividend of $0.02 per share for Q2 2026.
- Cogent purchased $20.4 million par value of its 2032 secured notes at a discount for a gain of $1.6 million during Q2 2026.
- Cogent purchased an additional $118.4 million of its 2032 secured notes at a discount for a gain of $11.8 million during the month of July 2026.
- Cogent’s net leverage ratio, adjusted for amounts due from T-Mobile, declined to 6.23 for Q2 2026 compared to 6.79 for Q1 2026 and 6.61 for Q2 2025.