Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Bank of America 2025 Media, Communications & Entertainment Conference September 4, 2025 11:20 AM EDT
Company Participants
David Schaeffer – Founder, Chairman, CEO & President
Conference Call Participants
Michael Funk – BofA Securities, Research Division
Presentation
Michael Funk
VP in Equity Research
So once again, everyone, thank you for coming out and special thanks to Dave Schaeffer. Dave, great to see you again. It’s good to be covering the space and get reconnected with you and Cogent. So thank you once again for attending our conference.
David Schaeffer
Founder, Chairman, CEO & President
Well, thank you. Hey, Ana. Welcome back to telecom from software. Hopefully, it’s a little more exciting. And as always, I want to thank Bank of America for a great venue, the opportunity to present. And I’d like to thank all the investors for taking time to hear a little bit about what we’re doing.
Question-and-Answer Session
Michael Funk
BofA Securities, Research Division
Yes. Absolutely. Look, given a chance to catch up on what’s Cogent, what’s happening at Cogent and yourself has certainly made it more interesting for me as I’ve ramped back up on the space. So I want to start by going back to last quarter and then maybe connecting some things to some previous guidance you gave about the full year exit rates.
So if we can start on the wavelength business, and I’m going to paraphrase my interpretation, and then please correct me if I’m wrong. But the installations in 2Q came in below Street expectations. You said that, yes, but the backlog, right, is very large and installations were lower because customers accepting delivery was less than you expected, and that was due in part because they’re so conditioned to not expect — or to not get delivery in the time frame that you were delivering, right?
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