Cogent Communications Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Cogent Communications Holdings, Inc. has filed its annual report for the fiscal year 2023.</b>

AI Summary

COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) filed a Annual Report (10-K) with the SEC on February 29, 2024. Cogent Communications Holdings, Inc. filed its 2023 Form 10-K on February 29, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 2450 N Street, NW, Washington, DC 20037. The company's IRS number is 522337274. Cogent Communications Group Inc. was the former company name prior to a name change on August 28, 2001.

Why It Matters

For investors and stakeholders tracking COGENT COMMUNICATIONS HOLDINGS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Cogent's financial performance, operational activities, and risk factors for the fiscal year 2023, crucial for investors to assess the company's health and future prospects. The detailed financial statements and disclosures within the report are essential for understanding Cogent's revenue streams, profitability, debt levels, and overall financial position as of December 31, 2023.

Risk Assessment

Risk Level: — COGENT COMMUNICATIONS HOLDINGS, INC. shows moderate risk based on this filing. The company operates in the telecommunications sector, which is subject to rapid technological changes, intense competition, and evolving regulatory landscapes, posing medium-term risks to its business model and profitability.

Analyst Insight

Investors should review the detailed risk factors and financial statements in the 10-K to understand potential challenges and opportunities facing Cogent Communications in the coming fiscal year.

Key Numbers

• 48013330 — Revenue (Fiscal year 2023)
• 48608569 — Revenue (Fiscal year 2022)

Key Players & Entities

• COGENT COMMUNICATIONS HOLDINGS, INC. (company) — Filer name
• CCOI (company) — Ticker symbol
• 20231231 (date) — Fiscal year end
• 20240229 (date) — Filing date
• 2450 N STREET, NW (address) — Business address
• WASHINGTON (location) — Business address city
• DC (location) — Business address state
• 20037 (postal_code) — Business address zip

FAQ

Industry Context

Cogent Communications operates in the telecommunications industry, providing high-speed internet access and data transport services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business, financial condition, and operations.

What Investors Should Do

1. Analyze the revenue figures for fiscal years 2023 and 2022 to identify trends and growth.
2. Review the company's business address and contact information for any changes or updates.
3. Note the former company name and date of change for historical context.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-29: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

The filing is a 10-K for the fiscal year ending December 31, 2023, compared to previous filings which would have covered earlier periods.

Key Financial Figures

• $0.001 — h registered: Common Stock, par value $0.001 per share CCOI NASDAQ Global Select
• $67.29 — gistrant, based on the closing price of $67.29 per share on June 30, 2023 as reported
• $5 billion — ompanies or companies with greater than $5 billion in annual revenue) running Wide Area Ne
• $500.0 million — , and Cogent Group is the issuer of our $500.0 million of 3.50% senior secured notes due in Ma
• $450.0 million — due in May 2026 ("2026 Notes") and our $450.0 million of 7.00% senior unsecured notes due in

Filing Documents

• ccoi-20231231x10k.htm (10-K) — 2472KB
• ccoi-20231231xex10d23.htm (EX-10.23) — 13KB
• ccoi-20231231xex21d1.htm (EX-21.1) — 94KB
• ccoi-20231231xex23d1.htm (EX-23.1) — 9KB
• ccoi-20231231xex31d1.htm (EX-31.1) — 10KB
• ccoi-20231231xex31d2.htm (EX-31.2) — 10KB
• ccoi-20231231xex32d1.htm (EX-32.1) — 6KB
• ccoi-20231231xex32d2.htm (EX-32.2) — 6KB
• ccoi-20231231xex97d1.htm (EX-97.1) — 44KB
• ccoi-20231231x10k002.jpg (GRAPHIC) — 45KB
• 0001410578-24-000091.txt (&nbsp;) — 12562KB
• ccoi-20231231.xsd (EX-101.SCH) — 84KB
• ccoi-20231231_cal.xml (EX-101.CAL) — 75KB
• ccoi-20231231_def.xml (EX-101.DEF) — 446KB
• ccoi-20231231_lab.xml (EX-101.LAB) — 815KB
• ccoi-20231231_pre.xml (EX-101.PRE) — 629KB
• ccoi-20231231x10k_htm.xml (XML) — 2261KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 15 Item 1B Unresolved Staff Comments 30 Item 1C Cybersecurity Item 2

Properties

Properties 31 Item 3

Legal Proceedings

Legal Proceedings 32 Item 4 Mine Safety Disclosures 32 Part II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 49 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 81 Item 9A

Controls and Procedures

Controls and Procedures 81 Item 9B Other Information 84 Item 9C Disclosures Regarding Foreign Jurisdictions that Prevent Inspections 84 Part III Item 10 Directors, Executive Officers and Corporate Governance 85 Item 11

Executive Compensation

Executive Compensation 85 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 85 Item 13 Certain Relationships and Related Transactions, and Director Independence 85 Item 14 Principal Accountant Fees and Services 85 Part IV Item 15 Exhibit and Financial Statement Schedules 86 Item 16 Form 10-K Summary 89

Signatures

Signatures 90 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K of Cogent Communications Holdings, Inc. (the "Company," "Cogent," "we," "our" or "us") may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are not statements of historical facts, but rather reflect our current expectations concerning future results and events. You can identify these forward-looking statements by our use of words such as "anticipates," "believes," "continues," "expects," "intends," "likely," "may," "opportunity," "plans," "potential," "project," "will," and similar expressions to identify forward-looking statements, whether in the negative or the affirmative, though not all forward-looking statements use these words. We cannot guarantee that we actually will achieve these plans, intentions or expectations. These forward-looking statements are subject to risks and uncertainties including those discussed in Item 1A "Risk Factors" and other factors, some of which are beyond our control, which could cause actual results to differ materially from those forecasts or anticipated in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which reflect our view only as of the date of this report. We undertake no obligation to update these statements or publicly release the result of any revisions to these statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events. Page 3 of 90 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS We are a facilities-based provider of low-cost, high-speed Internet access, private network services, and data center colocation space and power. Our network is specifically designed and optimized to transmit packet routed data. We deliver our services on our network to businesses, large and small, communications service providers and other bandwidth-intensive organizations in 54 countries across North America, Europe, Asia, South America, Oceania and Africa. We are a Delaware corporation, and we are headquartered in Washington, DC. We offer on-net Internet access services exclusively through our own facilities, which run from our network to our customers' premises. We offer our on-net services to customers located in buildings that are physically connected to our network. As a result, we are not dependent on local telephone companies or cable TV companies to serve our customers for our on-net Internet access and private network service. Our on-net service consists of high-speed Internet access and private network services offered at speeds ranging from 100 megabits per second ("Mbps") to 400 gigabits per second ("Gbps"). We provide our on-net Internet access, private network services and MPLS services to our corporate, net-centric and enterprise customers. Our corporate customers are located in multi-tenant office buildings ("MTOBs"), which typically include law firms, financial services firms, advertising and marketing firms, as well as health care providers, educational institutions and other professional services businesses. Our net-centric customers include bandwidth-intensive users that leverage our network either to deliver content to end users or to provide access to residential or commercial internet users. Content delivery customers include over the top ("OTT") media service providers, content delivery networks, web hosting companies, and commercial content and application software providers. Our net-centric customers include 7,988 acce

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View this 10-K filing on SEC EDGAR