Cogent Communications Files Q3 2024 10-Q

TL;DR

**Cogent Comm (CCOI) Q3 10-Q filed: Equity details updated. Check financials.**

AI Summary

Cogent Communications Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial information, including retained earnings, additional paid-in capital, and accumulated translation adjustments as of various dates in 2023 and 2024. The company's fiscal year ends on December 31st.

Why It Matters

This filing provides a snapshot of Cogent Communications' financial health and equity structure as of the end of the third quarter of 2024, crucial for investors assessing the company's stability and growth.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) that primarily reports historical financial data and does not contain significant new risks or events.

Key Numbers

• 48608569 — Retained Earnings (2024-09-30) (Represents accumulated profits not yet distributed.)
• 49012688 — Additional Paid-In Capital (2024-09-30) (Represents capital contributed by shareholders above par value.)

Key Players & Entities

• COGENT COMMUNICATIONS HOLDINGS, INC. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241107 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — h Registered Common Stock , par value $0.001 per share CCOI NASDAQ Global Select

Filing Documents

• ccoi-20240930x10q.htm (10-Q) — 2133KB
• ccoi-20240930xex31d1.htm (EX-31.1) — 12KB
• ccoi-20240930xex31d2.htm (EX-31.2) — 13KB
• ccoi-20240930xex32d1.htm (EX-32.1) — 7KB
• ccoi-20240930xex32d2.htm (EX-32.2) — 6KB
• 0001410578-24-001788.txt ( ) — 11155KB
• ccoi-20240930.xsd (EX-101.SCH) — 69KB
• ccoi-20240930_cal.xml (EX-101.CAL) — 64KB
• ccoi-20240930_def.xml (EX-101.DEF) — 322KB
• ccoi-20240930_lab.xml (EX-101.LAB) — 598KB
• ccoi-20240930_pre.xml (EX-101.PRE) — 438KB
• ccoi-20240930x10q_htm.xml (XML) — 2690KB

Financial Statements

Financial Statements 3 Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets of Cogent Communications Holdings, Inc. and Subsidiaries as of September 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Loss of Cogent Communications Holdings, Inc. and Subsidiaries for the Three Months Ended September 30, 2024 and September 30, 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive (Loss) Income of Cogent Communications Holdings, Inc. and Subsidiaries for the Nine Months Ended September 30, 2024 and September 30, 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows of Cogent Communications Holdings, Inc. and Subsidiaries for the Nine Months Ended September 30, 2024 and September 30, 2023 (Unaudited) 6 Notes to Interim Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 53 Item 4.

Controls and Procedures

Controls and Procedures 53 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 54 Item 1A .

Risk Factors

Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55 Item 5. Other Information 55 Item 6. Exhibits 56

SIGNATURES

SIGNATURES 57 CERTIFICATIONS Page 2 of 57 Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS COGENT COMMUNICATIONS HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 (IN THOUSANDS, EXCEPT SHARE DATA) September 30, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 279,191 $ 75,092 Restricted cash 36,901 38,689 Accounts receivable, net of allowance for credit losses of $ 10,223 and $ 3,677 , respectively 99,565 135,475 Due from T-Mobile, IP Transit Services Agreement, current portion, net of discount of $ 18,468 and $ 24,898 , respectively 81,532 179,269 Due from T-Mobile, Transition Services Agreement — 4,514 Prepaid expenses and other current assets 72,214 80,588 Total current assets 569,403 513,627 Property and equipment: Property and equipment 3,227,805 2,947,376 Accumulated depreciation and amortization ( 1,607,122 ) ( 1,409,559 ) Total property and equipment, net 1,620,683 1,537,817 Right-of-use leased assets 289,894 361,587 IPv4 intangible assets 458,000 458,000 Other intangible assets, net 13,481 14,815 Deposits and other assets 29,668 23,438 Due from T-Mobile, IP Transit Services Agreement, net of discount of $ 15,644 and $ 27,916 , respectively 201,022 263,750 Due from T-Mobile, Purchase Agreement, net of discount of $ 6,172 and $ 13,725 , respectively 21,943 38,585 Total assets $ 3,204,094 $ 3,211,619 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 53,053 $ 48,356 Accrued and other current liabilities 148,204 120,523 Due to T-Mobile – Transition Services Agreement 1,570 66,908 Due to T-Mobile – Purchase Agreement — 4,981 Current maturities, operating lease liabilities 55,867 67,962 Finance lease obligations, current maturities 21,939 64,594 Total current liabilities 280,633 373,324 Senior secured 2026 notes, net of unamortized debt costs of $

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View this 10-Q filing on SEC EDGAR