Cogent Communications Holdings, Inc. filed its Form 10-Q for the quarterly period ended June 30, 2026 with the Securities and Exchange Commission on August 6, 2026, reporting a swing to net income driven in part by gains on asset sales.

Key Highlights

  • Net income of $66,636 thousand for the three months ended June 30, 2026, compared to a net loss of $57,807 thousand in the same period of 2025, according to the filing.
  • Service revenue of $235,559 thousand for Q2 2026, down from $246,247 thousand in Q2 2025, as reported in the condensed consolidated statements.
  • Gains on asset sales of $132,041 thousand were recorded in Q2 2026, with no comparable gain in Q2 2025, per the filing.
  • Basic net income per common share of $1.39 and diluted net income per common share of $1.38 for Q2 2026, versus a basic and diluted loss per share of $1.21 in Q2 2025.
  • Dividends declared per common share of $0.02 in Q2 2026, compared to $1.010 in Q2 2025, according to the filing.
  • Total assets of $3,103,869 thousand as of June 30, 2026, with total liabilities of $3,137,999 thousand, resulting in a total stockholders' deficit of $34,130 thousand.
  • 51,215,736 shares of common stock outstanding as of July 31, 2026, the filing disclosed.

Cogent Communications Q2 2026: Asset Sale Gains Shift Results to Net Income

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) reported a return to profitability in the second quarter of 2026, according to its Form 10-Q filed August 6, 2026. The company disclosed net income of $66,636 thousand for the three months ended June 30, 2026, a reversal from a net loss of $57,807 thousand in the three months ended June 30, 2025. Operating income for Q2 2026 was $118,943 thousand, compared to an operating loss of $31,459 thousand in the prior-year quarter. The filing attributed a significant portion of the shift to gains on asset sales of $132,041 thousand and gains on finance lease terminations of $1,397 thousand, neither of which appeared in the year-ago period.

Service revenue declined to $235,559 thousand in Q2 2026 from $246,247 thousand in Q2 2025. Total operating expenses fell to $250,054 thousand from $277,706 thousand, with network operations expenses decreasing to $125,006 thousand from $137,492 thousand and depreciation and amortization falling to $52,952 thousand from $75,290 thousand. Selling, general, and administrative expenses increased to $72,096 thousand from $64,924 thousand, which the filing noted included $7,545 thousand of equity-based compensation, up from $4,158 thousand in Q2 2025. The company also recorded a gain on debt extinguishment related to its 2032 notes of $1,579 thousand in Q2 2026.

On the balance sheet as of June 30, 2026, the filing reported cash and cash equivalents of $183,703 thousand and restricted cash of $185,971 thousand, compared to $148,515 thousand and $56,597 thousand, respectively, at December 31, 2025. The Senior unsecured 2027 notes, net, of $746,264 thousand were reclassified to current liabilities as of June 30, 2026, from long-term as of December 31, 2025. The accumulated deficit narrowed to $685,068 thousand from $708,582 thousand at year-end 2025. The company is a large accelerated filer and is incorporated in Delaware.

What Was Disclosed

Cogent Communications filed its Q2 2026 Form 10-Q reporting net income of $66,636 thousand, service revenue of $235,559 thousand, gains on asset sales of $132,041 thousand, and total assets of $3,103,869 thousand as of June 30, 2026, with 51,215,736 shares outstanding as of July 31, 2026.