Cogent Communications Holdings, Inc. (CCOI) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Cogent Communications Holding Second Quarter 2035 earnings conference call. As a reminder, this conference call is being recorded and it will be available for replay at .cogentco.com. A transcript of this conference call will be posted in Cogent's website when it becomes available. Cogent's summary of financial and operational results attached to its press release can be downloadable from the Cogent website. I would now like to turn the call over to Mr. Dave Schaefer, Chairman and Chief Executive Officer of Cogent Communications Holding. Please go ahead. Thank you and good morning everyone. Welcome to our second quarter 2025 earnings conference call. I'm Dave Schaefer, Cogent's Chief Executive Officer and with me on this morning's call is Ted Weed, our Chief Financial Officer. I'd like to take a moment to touch on some of the key milestones that we achieved As of the end of the quarter, we were offering wavelength services in 938 data centers at 10 gig, 100 gig, and 400 gig service levels. Materially, we also had reduced our provisioning intervals to approximately 30 days. Our wavelength revenues for the quarter were $9.1 million, a 150% increase on a year over year basis and a sequential increase of that revenue stream of 27%. As of the end of the quarter, we had sold wavelengths in 418 locations. We currently have a backlog and funnel of 4,687 wavelength opportunities. We do intend to capture 25% of the highly concentrated North American wavelength market. In the quarter, we completed two significant debt transactions that In April, we issued an additional $174.4 million of debt against our IPV4 securitizations at a rate of 6.646%, which was substantially below our initial In June, we issued $600 million of .5% secured notes that mat...