Q1 2026 Financial Highlights
- Service revenue was $239.2 million for Q1 2026 and was $240.5 million for Q4 2025.
- Wavelength revenue increased by 3% sequentially from Q4 2025 to $13.6 million for Q1 2026 and increased by 90.8% from Q1 2025.
- Wavelength customer connections increased by 9.6% sequentially from Q4 2025 to 2,263 connections for Q1 2026 and increased by 71.2% from Q1 2025.
- On-net revenue increased by 1.0% sequentially from Q4 2025 to $135.6 million for Q1 2026 and increased by 4.6% from Q1 2025.
- Wavelength revenue increased by 3% sequentially from Q4 2025 to $13.6 million for Q1 2026 and increased by 90.8% from Q1 2025.
- Revenue from leasing IPv4 addresses increased by 9% sequentially from Q4 2025 to $18.0 million for Q1 2026 and increased by 24.8% from Q1 2025.
- EBITDA, as adjusted, was $70.2 million for Q1 2026 and increased by 2.1% from Q1 2025.
- EBITDA, as adjusted, margin was 29.3% for Q1 2026 and was 27.8% for Q1 2025.
- IP Network traffic for Q1 2026 increased by 4% from Q4 2025 and increased by 14% from Q1 2025.
- Cogent approved a quarterly dividend of $0.02 per share for Q2 2026.