CCOI Cogent Communications Holdings, Inc. - Common Stock
NASDAQ · Telecommunication · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$8.46
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· above low
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$7.1352w low
$45.6952w high
Market Cap (MRQ)
$433M
P/E (TTM)
-8.9
EPS (TTM)
$-0.95
Revenue (TTM)
$957M
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52W Range
$7–$46
Analyst Rating
HOLD
Price Target
$15
P/E
-8.9
ROE
-721.5%
Net Profit Margin
-4.7%
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CCOI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$8.46
Market Cap (MRQ)
$433M
P/E (TTM)
-8.9
EPS (TTM)
$-0.95
Revenue (TTM)
$957M
Div Yield
35.4%
ROE (TTM)
-721.5%
52W Range
$7–$46
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| March 24, 2005 | 1-for-20 | Reverse |
About Cogent Communications Holdings, Inc. - Common Stock Company overview from Wikipedia
Cogent Communications Holdings, Inc. is a multinational internet service provider based in the United States. Cogent's primary services consist of Internet access and data transport, offered on a fiber optic, IP data-only network, along with colocation in data centers.
Acquisition history
Cogent was founded in 1999 at the peak of the industry's growth and was funded by angel investors including members of Keiretsu Forum. In three years, Cogent acquired 13 other failing carriers, purchasing $14 billion in capital for $60 million, including $4 billion worth of Property, Plant and Equipment.
September 2001 – Acquires the assets of NetRail
February 2002 – Acquires Allied Riser
April 2002 – Acquires Building Access Agreements from OnSite Access
April 2002 – Acquires Major US Assets of PSINet
September 2002 – Acquires Major Assets of FiberCity Networks
February 2003 – Acquires Fiber Network Solutions
May 2003 – Acquires Assets of Applied Theory
January 2004 – Acquires LambdaNet France & Spain
March 2004 – Acquires Fiber Network and Equipment in Germany Out of Former Carrier1 Assets
September 2004 – Acquires Global Access
October 2004 – Acquires Aleron Broadband
December 2004 – Acquires NTT/Verio Dedicated Access Business in U.S.
In September, 2022, it was announced that Cogent was buying the Sprint Corporation wireline business from T-Mobile for $1.00, assuming some liabilities.
Peering disputes
Cogent has been controversial in the ISP market for low bandwidth pricing and its public disputes over peering with AOL (2003), Level 3 Communications (2005), France Telecom (2006), Limelight Networks (2007), Telia Carrier (March 2008), and Sprint Nextel (October 2008).
On March 14, 2008, after Cogent stopped routing packets from European network provider Telia (AS 1299), their two networks lost mutual connectivity. The connection was reestablished March 28, 2008 with interconnection points in both the United States and Europe.
On June 6, 2011, Cogent automatically stopped peering with the US Department of Energy's Energy Sciences Network (ESnet) causing a disruption for three days.
In November 2015, CenturyLink signed a new long-term bilateral interconnection agreement with Cogent Communications.
In December 2015, Cogent sued Deutsche Telekom. Cogent claimed that DTAG failed to increase interconnection capacity between the two networks. According to a statement released by Cogent, "Deutsche Telekom has interfered with the free flow of Internet traffic between Cogent customers and Deutsche Telekom customers by refusing to increase the capacity of the interconnection ports that allow the exchange of traffic".
There is a long-running dispute between Cogent and Hurricane Electric. Cogent has been refusing to peer settlement-free with Hurricane Electric, the largest IPv6 network, since 2009. Due to this, IPv6 traffic cannot be interchanged between both networks. IPv4 traffic can still be interchanged since Hurricane Electric is only a Tier 1 operator for IPv6 but not for IPv4. IPv4 traffic between both networks is routed via Arelion.
Cogent and Google have also stopped IPv6 peering in 2016. This is rumored to be closely tied to Cogent leveraging Google's IPv4 traffic via a paid customer or to maintain settlement-free interconnect with another network. As of November 2023, the two networks appear to be reachable over IPv6 via Tata Communications.
In February 2017, Cogent blocked many piracy and streaming sites including The Pirate Bay. This was unintentional due to a poorly crafted Spanish court order.
In February 2024, Cogent withdrew peering with NTT in Europe, forcing all their peering traffic to go through their common remaining interconnections in USA, increasing latency and traffic loss between both networks, to complain against refusal of peering settlements in Asia from NTT.
In May 2024, Cogent withdrew peering with Tata Communications completely. As a result, networks that are single homed behind AS6453 (in APAC) or AS174 will not be able to reach each other. This is similar, but more serious, to the previous regional NTT-Cogent depeerings (since the NTT ones "just" increased latency by routing via the US instead). Despite what Cogent reported, Cogent has not de-peered, but rather blocked routes to TATA single-homed transit. However, in June 2024 this peering dispute was resolved. Connectivity between Cogent and TATA has been restored and is operating normally.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorTelecommunication
industryTelecommunication
employees1,833
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$976M2016-12-31 → 2025-12-31
EPS$-3.802016-12-31 → 2025-12-31
Free Cash Flow$-198M2016-12-31 → 2025-12-31
Net margin-4.7%2018-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | CCOI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -8.95Y avg ≈113.8 | ≈113.8 | · | · | |
| P/S (TTM) | 0.55Y avg ≈3.8 | ≈3.8 | 0.7 | Fair value | |
| P/B (MRQ) | -12.75Y avg ≈-1.7 | ≈-1.7 | · | · | |
| Price / FCF (TTM) | -3.05Y avg ≈1.4 | ≈1.4 | · | · | |
| Price / Cash Flow (TTM) | 28.65Y avg ≈-57.9 | ≈-57.9 | · | · | |
| Price / Tangible Book | 6.7 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | CCOI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 8.0%5Y avg ≈-0.79% | ≈-0.79% | -1.1% | Top tier | |
| EBITDA Margin (TTM) | 31.5%5Y avg ≈10.9% | ≈10.9% | -1.1% | Top tier | |
| Pretax Margin (TTM) | -7.1%5Y avg ≈19.2% | ≈19.2% | -1.5% | Top tier | |
| Net Profit Margin (TTM) | -4.7%5Y avg ≈21.2% | ≈21.2% | -1.2% | Top tier | |
| ROA (TTM) | -1.4%5Y avg ≈10.7% | ≈10.7% | -5.0% | Weak | |
| ROE (TTM) | -721.5%5Y avg ≈454.8% | ≈454.8% | 30.2% | Top tier | |
| ROIC | 117.7%5Y avg ≈0.01% | ≈0.01% | 37.3% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | CCOI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 0.65Y avg ≈2.7 | ≈2.7 | 1.1 | Low liquidity | |
| Quick Ratio | 1.15Y avg ≈1.9 | ≈1.9 | 1.0 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | CCOI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -5.8%5Y avg ≈13.3% | ≈13.3% | · | · | |
| Revenue CAGR 3Y | 17.6%5Y avg ≈18.9% | ≈18.9% | · | · | |
| Revenue CAGR 5Y | 11.4% | · | · | · | |
| EPS YoY | 24100.0%5Y avg ≈8234.3% | ≈8234.3% | · | · | |
| Net Income YoY | 24646.2%5Y avg ≈8410.7% | ≈8410.7% | · | · | |
| EPS CAGR 3Y | 489.4% | · | · | · | |
| Net Income CAGR 3Y | 489.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | CCOI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.35Y avg ≈0.5 | ≈0.5 | 0.4 | Weak | |
| Receivables Turnover | 10.55Y avg ≈11.5 | ≈11.5 | 8.5 | Top tier | |
| Revenue / Employee | ≈$532.3K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield35.4%
Payout Ratio-82.4%
Annualized Payout≈$0.08
5Y Div CAGR≈7.8%
Growth Streak≈12
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 21, 2026 | $0.02 | USD | ≈0.87% |
| May 18, 2026 | $0.02 | USD | ≈12.1% |
| Mar 6, 2026 | $0.02 | USD | ≈9.0% |
| Nov 21, 2025 | $0.02 | USD | ≈17.9% |
| Aug 21, 2025 | $1.02 | USD | ≈10.7% |
| May 22, 2025 | $1.01 | USD | ≈8.7% |
| Mar 13, 2025 | $1.01 | USD | ≈5.9% |
| Nov 22, 2024 | $1.00 | USD | ≈4.7% |
| Aug 22, 2024 | $0.99 | USD | ≈5.4% |
| May 22, 2024 | $0.98 | USD | ≈6.5% |
| Mar 14, 2024 | $0.97 | USD | ≈5.9% |
| Nov 22, 2023 | $0.96 | USD | ≈5.7% |
| Aug 23, 2023 | $0.95 | USD | ≈5.5% |
| May 17, 2023 | $0.94 | USD | ≈5.9% |
| Mar 9, 2023 | $0.93 | USD | ≈5.9% |
| Nov 17, 2022 | $0.92 | USD | ≈6.2% |
| Aug 17, 2022 | $0.91 | USD | ≈6.0% |
| May 12, 2022 | $0.88 | USD | ≈5.8% |
| Mar 8, 2022 | $0.86 | USD | ≈5.3% |
| Nov 18, 2021 | $0.83 | USD | ≈4.0% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
16.4%
Next Report
Nov 04, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 6, 2026 | $-0.45 | $-0.99 | 54.6% |
| March 31, 2026 | $-0.83 | $-1.02 | 18.3% | |
| Dec. 31, 2025 | $-0.64 | $-1.00 | 35.8% | |
| Sept. 30, 2025 | $-0.87 | $-1.04 | 16.7% | |
| June 30, 2025 | $-1.21 | $-0.95 | -27.2% | |
| March 31, 2025 | $-1.09 | $-1.09 | 0.16% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $976M | $1.04B | $941M | $600M | $590M | $568M | $546M | $520M | $485M | $447M | $404M | $380M | |
| Cost of Revenue | $535M | $642M | $544M | $228M | $226M | $219M | $220M | $220M | $209M | $194M | $175M | $160M | |
| SG&A Expense | $274M | $276M | $275M | $163M | $162M | $158M | $147M | $134M | $128M | $121M | $113M | $108M | |
| Operating Expenses | $1.08B | $1.24B | $1.07B | $486M | $478M | $461M | $447M | $435M | $413M | $390M | $358M | $337M | |
| Operating Income | $-101M | $-198M | $-129M | $114M | $119M | $107M | $100M | $87M | $76M | $64M | $53M | $54M | |
| Interest Expense | · | $123M | $93M | $111M | $58M | $62M | $57M | $51M | $48M | $41M | $41M | $50M | |
| Pretax Income | $-245M | $-260M | $1.22B | $26M | $71M | $10M | $53M | $41M | $31M | $24M | $13M | $4M | |
| Income Tax | $-63M | $-56M | $-54M | $21M | $23M | $4M | $15M | $13M | $25M | $9M | $8M | $4M | |
| Net Income | $-182M | $-204M | $1.27B | $5M | $48M | $6M | $38M | $29M | $6M | $15M | · | · | |
| EPS (Basic) | $-3.80 | $-4.28 | $26.88 | $0.11 | $1.04 | $0.14 | $0.82 | $0.63 | $0.13 | $0.33 | $0.11 | $0.02 | |
| EPS (Diluted) | $-3.80 | $-4.28 | $26.62 | $0.11 | $1.03 | $0.13 | $0.81 | $0.63 | $0.13 | $0.33 | $0.11 | $0.02 | |
| Shares (Basic) | 47,928,826 | 47,627,873 | 47,373,361 | 46,875,992 | 46,419,180 | 45,947,772 | 45,542,315 | 45,280,161 | 44,855,263 | 44,641,805 | 44,888,723 | 45,960,720 | |
| Shares (Diluted) | 47,928,826 | 47,627,873 | 47,837,512 | 47,207,298 | 46,963,920 | 46,668,198 | 46,080,395 | 45,780,954 | 45,184,203 | 44,873,030 | 45,159,489 | 46,349,670 | |
| EBITDA | $169M | $-198M | $-129M | $206M | $208M | $190M | $181M | $168M | $152M | $139M | $124M | $123M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $149M | $198M | $75M | $224M | $320M | $371M | $399M | $276M | $247M | $274M | $204M | $288M | |
| Receivables | $88M | $97M | $135M | $44M | $42M | $44M | $40M | $42M | $39M | $34M | $31M | $33M | |
| Prepaid Expense | $68M | $74M | $81M | $46M | $39M | $41M | $36M | $33M | $20M | $20M | $17M | $15M | |
| Current Assets | $451M | $482M | $514M | $366M | $410M | $456M | $476M | $350M | $306M | $328M | $251M | $336M | |
| PP&E (Net) | $1.72B | $1.66B | $1.54B | $544M | $458M | $430M | $369M | $375M | $381M | $362M | $360M | $361M | |
| PP&E (Gross) | $3.64B | $3.32B | $2.95B | $1.71B | $1.62B | $1.52B | $1.37B | $1.30B | $1.23B | $1.14B | $1.07B | $1.05B | |
| Accum. Depreciation | $1.92B | $1.66B | $1.41B | $1.17B | $1.16B | $1.09B | $998M | $925M | $852M | $775M | $710M | $687M | |
| Intangibles | · | · | $473M | · | · | · | · | · | · | · | · | · | |
| Total Assets | $3.10B | $3.17B | $3.21B | $1.01B | $985M | $1.00B | $932M | $740M | $711M | $738M | $663M | $755M | |
| Accounts Payable | $31M | $40M | $48M | $27M | $12M | $10M | $11M | $9M | $12M | $12M | $12M | $13M | |
| Accrued Liabilities | $110M | $135M | $121M | $64M | $39M | $51M | $51M | $51M | $48M | $47M | $38M | $32M | |
| Current Liabilities | $221M | $253M | $373M | $120M | $81M | $94M | $90M | $75M | $75M | $68M | $69M | $60M | |
| Capital Leases | $270M | $302M | $330M | $95M | $112M | $111M | $87M | $157M | $150M | $135M | $130M | $152M | |
| Deferred Tax | $333M | $398M | $471M | $48M | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $29M | $40M | $62M | $35M | $45M | $15M | $15M | $25M | $28M | $28M | $31M | $22M | |
| Total Liabilities | $3.16B | $2.95B | $2.60B | $1.53B | $1.36B | $1.29B | $1.14B | $889M | $813M | $791M | $675M | $671M | |
| Long-term Debt | $1.73B | $1.46B | $950M | $950M | $898M | $882M | $798M | $645M | $575M | $570M | $471M | $440M | |
| Common Stock | $50.0K | $49.0K | $49.0K | $48.0K | $48.0K | $47.0K | $47.0K | $46.0K | $46.0K | $45.0K | $45.0K | $46.0K | |
| Retained Earnings | $-709M | $-376M | $17M | $-1.07B | $-910M | $-808M | $-685M | $-609M | $-555M | $-479M | $-432M | $-370M | |
| AOCI | · | · | · | · | · | · | · | $-11M | $-5M | $-17M | $-15M | $-6M | |
| Stockholders' Equity | $-64M | $223M | $610M | $-519M | $-373M | $-293M | $-204M | $-149M | $-103M | $-53M | $-12M | $84M | |
| Liabilities + Equity | $3.10B | $3.17B | $3.21B | $1.01B | $985M | $1.00B | $932M | $740M | $711M | $738M | $663M | $755M | |
| Shares Outstanding | 50,062,158 | 49,034,925 | 48,608,569 | 48,013,330 | 47,674,189 | 47,214,077 | 46,840,434 | 46,336,499 | 45,960,799 | 45,478,787 | 45,198,718 | 46,398,729 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $270M | $298M | $232M | $92M | $89M | $83M | $80M | $81M | $76M | $75M | $71M | $69M | |
| Stock-based Comp | · | · | · | · | · | · | · | · | $13M | $11M | $12M | $10M | |
| Deferred Tax | $-65M | $-52M | $-70M | $17M | $18M | $282.0K | $12M | $11M | $25M | $9M | $8M | $3M | |
| Other Non-cash | $-34M | · | · | $60M | $15M | $50M | $19M | $13M | · | · | · | · | |
| Operating Cash Flow | $-11M | $-9M | $17M | $174M | $170M | $140M | $149M | $134M | $112M | $108M | $84M | $73M | |
| CapEx | $188M | $195M | $130M | $79M | $70M | $56M | $47M | $50M | $46M | $45M | $36M | $60M | |
| Investing Cash Flow | $-88M | $21M | $77M | $-79M | $-70M | $-56M | $-47M | $-50M | $-46M | $-45M | $-35M | · | |
| Net Debt Issued | · | · | · | $-790.0K | $-7M | $-11M | $-10M | $-9M | $-4M | $-21M | $-670.0K | · | |
| Stock Repurchased | $17M | $8M | · | · | · | $4M | · | $7M | $2M | $4M | $39M | $59M | |
| Net Stock Activity | $-17M | $-8M | · | · | · | $-4M | · | $-7M | $-2M | $-4M | $-39M | $-59M | |
| Dividends Paid | $150M | $189M | $182M | $170M | $150M | $129M | $113M | $98M | $82M | $68M | $66M | $54M | |
| Financing Cash Flow | $63M | $106M | $-258M | $-145M | $-141M | $-116M | $22M | $-53M | $-97M | $8M | $-129M | · | |
| Net Change in Cash | $-23M | $114M | $-162M | $-53M | $-43M | $-28M | $123M | $29M | $-27M | $71M | $-84M | $-17M | |
| Taxes Paid | $-659.0K | $3M | $35M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $-198M | $-204M | $-112M | $95M | $100M | $84M | $102M | $84M | $66M | $63M | $48M | $13M | |
| Levered FCF | · | $-301M | $-224M | $82M | $55M | $47M | $61M | $49M | $57M | $38M | $32M | $4M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -10.4% | -19.1% | -13.7% | 19.0% | 20.2% | 18.8% | 18.4% | 16.6% | 15.7% | 14.3% | 13.1% | · | |
| Net Margin | -18.7% | -19.7% | 135.3% | 0.86% | 8.2% | 1.1% | 6.9% | 5.5% | · | · | · | · | |
| Pretax Margin | -25.1% | -25.1% | 129.6% | 4.4% | 12.1% | 1.8% | 9.6% | 8.0% | 6.4% | 5.4% | 3.1% | · | |
| EBITDA Margin | 17.3% | -19.1% | -13.7% | 34.4% | 35.4% | 33.5% | 33.1% | 32.3% | 31.3% | 31.2% | 30.6% | · | |
| ROA | -5.8% | -6.4% | 60.3% | 0.52% | 4.9% | 0.64% | 4.5% | 4.0% | · | · | · | · | |
| ROE | 2120.8% | -74.7% | 242.2% | -1.0% | -13.2% | -2.2% | -19.0% | -20.9% | · | · | · | · | |
| ROIC | 117.7% | -69.7% | -22.2% | -4.3% | -21.6% | -22.0% | -35.1% | -40.2% | -14.0% | -74.0% | -166.5% | 11.4% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.0 | 1.9 | 1.4 | 3.0 | 5.1 | 4.8 | 5.3 | 4.7 | 4.1 | 4.8 | 3.6 | 5.7 | |
| Quick Ratio | 1.1 | 1.2 | 0.6 | 2.2 | 4.5 | 4.4 | 4.9 | 4.2 | 3.8 | 4.5 | 3.4 | 5.3 | |
| Interest Coverage | · | -1.6 | -1.2 | 1.7 | 1.8 | 1.7 | 1.7 | 1.7 | 1.6 | 1.6 | 1.3 | 1.1 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | 0.4 | 0.6 | 0.6 | 0.6 | 0.7 | 0.7 | 0.7 | 0.6 | 0.6 | · | |
| Receivables Turnover | 10.5 | 8.9 | 10.5 | 13.9 | 13.7 | 13.4 | 13.3 | 12.9 | 13.3 | 13.9 | 12.7 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-1.28 | $4.54 | $12.54 | $-10.80 | $-7.83 | $-6.21 | $-4.35 | $-3.22 | $-2.23 | $-1.17 | $-0.27 | $1.81 | |
| Revenue / Share | $20.36 | $21.75 | $19.67 | $12.70 | $12.56 | $12.17 | $11.85 | $11.36 | $10.74 | $9.96 | $8.95 | · | |
| Cash Flow / Share | $-0.22 | $-0.18 | $0.36 | $3.68 | $3.63 | $3.01 | $3.23 | $2.93 | $2.47 | $2.41 | $1.86 | $1.58 | |
| Cash / Share | $2.97 | $4.05 | $1.54 | $4.66 | $6.70 | $7.86 | $8.53 | $5.96 | $5.37 | $6.03 | $4.50 | $6.20 | |
| Dividend / Share | $3.05 | $3.92 | $3.76 | $3.56 | $3.17 | $2.78 | $2.44 | $2.12 | $1.80 | $1.51 | $1.46 | $1.17 | |
| EPS (TTM) | $-3.80 | $-4.28 | $26.62 | $0.11 | $1.03 | $0.13 | $0.81 | $0.63 | $0.13 | $0.33 | $0.11 | $0.02 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -5.8% | 10.1% | 56.9% | 1.7% | 3.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 17.6% | 20.7% | 18.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 11.4% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | 24100.0% | -89.3% | 692.3% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | · | 489.4% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | 24646.2% | -89.3% | 675.2% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | · | 489.5% | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 3.0% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $976M | $1.04B | $941M | $600M | $590M | $568M | $546M | $520M | $485M | $447M | $404M | $380M | |
| Net Income TTM | $-182M | $-204M | $1.27B | $5M | $48M | $6M | $38M | $29M | $6M | $15M | · | · | |
| Market Cap | $1.08B | $3.78B | $3.70B | $2.74B | $3.49B | $2.83B | $3.08B | $2.09B | $2.08B | $1.88B | $1.57B | $1.64B | |
| P/E | -5.7 | -18.0 | 2.9 | 518.9 | 71.0 | 460.5 | 81.2 | 71.8 | 348.5 | 125.3 | 315.4 | 1769.5 | |
| P/S | 1.1 | 3.6 | 3.9 | 4.6 | 5.9 | 5.0 | 5.6 | 4.0 | 4.3 | 4.2 | 3.9 | 4.3 | |
| P/B | -16.9 | 17.0 | 6.1 | -5.3 | -9.4 | -9.6 | -15.1 | -14.1 | -20.3 | -35.3 | -127.8 | 19.6 | |
| P / Tangible Book | · | 17.0 | 27.0 | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | -102.0 | -437.1 | 213.2 | 15.8 | 20.5 | 20.1 | 20.7 | 15.6 | 18.6 | 17.4 | 18.7 | 22.5 | |
| P / FCF | -5.4 | -18.6 | -32.9 | 28.9 | 34.8 | 33.5 | 30.3 | 24.9 | 31.6 | 30.0 | 32.5 | 126.2 | |
| Dividend Yield | 13.9% | 5.0% | 4.9% | 6.2% | 4.3% | 4.6% | 3.6% | 4.7% | 3.9% | 3.6% | 4.2% | 3.3% | |
| Earnings Yield | -17.6% | -5.5% | 35.0% | 0.19% | 1.4% | 0.22% | 1.2% | 1.4% | 0.29% | 0.80% | 0.32% | 0.06% | |
| Payout Ratio | -82.4% | -92.8% | 14.3% | 3300.8% | 311.9% | 2081.9% | 300.2% | 341.5% | · | · | · | · | |
| Annual Payout | $150M | $189M | $182M | $170M | $150M | $129M | $113M | $98M | $82M | $68M | $66M | $54M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $236M | $239M | $241M | $242M | $246M | $247M | $252M | $257M | $260M | $266M | $272M | $275M | $240M | $154M | $152M | $150M | |
| Cost of Revenue | $125M | $129M | $128M | $132M | $137M | $137M | $155M | $162M | $156M | $169M | $174M | $174M | $138M | $59M | $57M | $57M | |
| SG&A Expense | $72M | $72M | $65M | $70M | $65M | $74M | $63M | $68M | $68M | $77M | $81M | $65M | $84M | $45M | $44M | $39M | |
| Operating Expenses | $250M | $256M | $252M | $263M | $278M | $287M | $286M | $315M | $311M | $326M | $341M | $326M | $274M | $129M | $125M | $121M | |
| Operating Income | $119M | $-14M | $-11M | $-18M | $-31M | $-40M | $-33M | $-58M | $-47M | $-59M | $-68M | $-51M | $-35M | $24M | $28M | $28M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $23M | · | $24M | $29M | $19M | $65M | $18M | |
| Other Non-op | $3M | $3M | · | $5M | $-2M | $-865.0K | · | $-1M | $2M | $3M | · | $2M | $200.0K | $3M | · | $-262.0K | |
| Pretax Income | $83M | $-51M | $-48M | $-53M | $-75M | $-70M | $-55M | $-80M | $-40M | $-84M | $180M | $-70M | $1.10B | $11M | $12M | $-7M | |
| Income Tax | $16M | $-11M | $-17M | $-11M | $-17M | $-18M | $-12M | $-17M | $-8M | $-19M | $-21M | $-14M | $-24M | $5M | $11M | $969.0K | |
| Net Income | $67M | $-40M | $-31M | $-42M | $-58M | $-52M | $-43M | $-63M | $-32M | $-65M | $200M | $-57M | $1.12B | $6M | $852.0K | $-8M | |
| EPS (Basic) | $1.39 | $-0.83 | $-0.63 | $-0.87 | $-1.21 | $-1.09 | $-0.89 | $-1.33 | $-0.68 | $-1.38 | $4.11 | $-1.20 | $23.84 | $0.13 | $0.02 | $-0.17 | |
| EPS (Diluted) | $1.38 | $-0.83 | $-0.63 | $-0.87 | $-1.21 | $-1.09 | $-0.89 | $-1.33 | $-0.68 | $-1.38 | $4.04 | $-1.20 | $23.65 | $0.13 | $0.02 | $-0.17 | |
| Shares (Basic) | 47,921,120 | 47,774,617 | · | 47,603,287 | 47,592,836 | 47,676,735 | · | 47,426,131 | 47,511,613 | 47,416,268 | · | 47,227,338 | 47,137,822 | 47,037,091 | · | 46,736,742 | |
| Shares (Diluted) | 48,429,166 | 47,774,617 | · | 47,603,287 | 47,592,836 | 47,676,735 | · | 47,426,131 | 47,511,613 | 47,416,268 | · | 47,227,338 | 47,526,207 | 47,381,226 | · | 46,736,742 | |
| EBITDA | $172M | $41M | · | $42M | $44M | $36M | · | $28M | $27M | $12M | · | $36M | $18M | $49M | · | $51M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $184M | $140M | $149M | $147M | $214M | $154M | $198M | $279M | $384M | $118M | · | $110M | $192M | $184M | · | $269M | |
| Receivables | $86M | $91M | $88M | $96M | $95M | $88M | $97M | $100M | $112M | $107M | · | $87M | $89M | $45M | · | $43M | |
| Prepaid Expense | $65M | $69M | $68M | $69M | $73M | $66M | $74M | $72M | $68M | $80M | · | $74M | $82M | $49M | · | $46M | |
| Current Assets | $606M | $430M | $451M | $480M | $561M | $423M | $482M | $569M | $689M | $473M | · | $581M | $713M | $329M | · | $414M | |
| PP&E (Net) | $1.64B | $1.73B | $1.72B | $1.71B | $1.73B | $1.69B | $1.66B | $1.62B | $1.58B | $1.56B | · | $1.62B | $1.61B | $572M | · | $504M | |
| PP&E (Gross) | $3.58B | $3.70B | $3.64B | $3.58B | $3.55B | $3.43B | $3.32B | $3.23B | $3.10B | $3.05B | · | $2.95B | $2.86B | $1.77B | · | · | |
| Accum. Depreciation | $1.94B | $1.96B | $1.92B | $1.87B | $1.82B | $1.74B | $1.66B | $1.61B | $1.52B | $1.48B | · | $1.33B | $1.25B | $1.20B | · | · | |
| Intangibles | · | · | · | · | · | · | · | · | · | · | · | $54M | $56M | · | · | · | |
| Total Assets | $3.10B | $3.06B | $3.10B | $3.15B | $3.27B | $3.12B | $3.17B | $3.20B | $3.34B | $3.15B | · | $2.96B | $3.16B | $998M | · | $1.02B | |
| Accounts Payable | $36M | $36M | $31M | $28M | $49M | $56M | $40M | $53M | $39M | $46M | · | $29M | $30M | $19M | · | $18M | |
| Accrued Liabilities | $103M | $112M | $110M | $129M | $117M | $147M | $135M | $148M | $189M | $187M | · | $120M | $118M | $77M | · | $67M | |
| Current Liabilities | $960M | $226M | $221M | $238M | $243M | $283M | $253M | $281M | $313M | $421M | · | $356M | $416M | $127M | · | $122M | |
| Capital Leases | $256M | $264M | $270M | $279M | $299M | $296M | $302M | $271M | $309M | $321M | · | $331M | $456M | $92M | · | $99M | |
| Deferred Tax | $334M | $322M | $333M | $352M | $362M | $380M | $398M | $383M | $406M | $437M | · | $388M | $425M | · | · | · | |
| Other Non-current Liabilities | $29M | $29M | $29M | $30M | $30M | $34M | $40M | $47M | $58M | $67M | · | $79M | $71M | $82M | · | $84M | |
| Total Liabilities | $3.14B | $3.16B | $3.16B | $3.19B | $3.22B | $2.98B | $2.95B | $2.88B | $2.93B | $2.64B | · | $2.52B | $2.62B | $1.55B | · | $1.51B | |
| Long-term Debt | · | · | $1.73B | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $51.0K | $50.0K | $50.0K | $49.0K | $49.0K | $49.0K | $49.0K | $49.0K | $49.0K | $49.0K | · | $49.0K | $49.0K | $48.0K | · | $48.0K | |
| Retained Earnings | $-685M | $-749M | $-709M | $-675M | $-585M | $-478M | $-376M | $-285M | $-174M | $-95M | · | $-137M | $-35M | $-1.11B | · | $-1.03B | |
| Stockholders' Equity | $-34M | $-104M | $-64M | $-39M | $47M | $143M | $223M | $324M | $416M | $501M | $610M | $442M | $539M | $-549M | $-519M | $-492M | |
| Liabilities + Equity | $3.10B | $3.06B | $3.10B | $3.15B | $3.27B | $3.12B | $3.17B | $3.20B | $3.34B | $3.15B | · | $2.96B | $3.16B | $998M | · | $1.02B | |
| Shares Outstanding | 51,215,736 | 50,077,663 | 50,062,158 | 49,121,159 | 49,246,196 | 49,337,310 | 49,034,925 | 49,012,688 | 48,990,760 | 49,013,487 | · | 48,612,382 | 48,617,162 | 48,296,882 | · | 48,002,135 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $53M | $54M | $58M | $60M | $75M | $76M | $67M | $86M | $74M | $71M | $68M | $87M | $53M | $25M | $24M | $23M | |
| Deferred Tax | $12M | $-12M | $-18M | $-11M | $-17M | $-19M | $15M | $-23M | $-10M | $-33M | $-6M | $-36M | $-28M | $890.0K | $12M | $2M | |
| Other Non-cash | · | $12M | · | · | · | $31M | · | · | · | $47M | · | · | · | $4M | · | · | |
| Operating Cash Flow | $3M | $15M | $-6M | $3M | $-44M | $36M | $15M | $-20M | $-22M | $19M | $-49M | $-52M | $83M | $36M | $36M | $54M | |
| CapEx | $39M | $46M | $37M | $36M | $56M | $58M | $46M | $59M | $49M | $41M | $44M | $25M | $37M | $23M | $20M | $24M | |
| Investing Cash Flow | $219M | $-21M | $-12M | $-11M | $-31M | $-33M | $-21M | $-34M | $26M | $51M | $60M | $62M | $-22M | $-23M | $-20M | $-24M | |
| Stock Repurchased | · | $106M | $0 | $5M | $12M | · | $0 | $0 | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-106M | · | $-5M | $-12M | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $2M | $1M | $2M | $49M | $50M | $49M | $48M | $47M | $93M | $478.0K | $46M | $45M | $45M | $45M | $44M | $43M | |
| Financing Cash Flow | $-31M | $-15M | $-11M | $-63M | $194M | $-57M | $-75M | $-51M | $256M | $-24M | $-65M | $-86M | $-52M | $-55M | $-68M | $-52M | |
| Net Change in Cash | $190M | $-26M | $-21M | $-80M | $123M | $-44M | $-88M | $-110M | $263M | $49M | $-52M | $-78M | $10M | $-41M | $-48M | $-26M | |
| Free Cash Flow | · | $-31M | · | · | · | $-22M | · | · | · | $-22M | · | · | · | $13M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-39M | · | · | · | $2M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 50.5% | -5.7% | · | -7.5% | -12.8% | -16.3% | · | -22.5% | -18.1% | -22.3% | · | -18.4% | -14.4% | 15.8% | · | 18.7% | |
| Net Margin | 28.3% | -16.5% | · | -17.2% | -23.5% | -21.1% | · | · | · | -24.5% | · | · | · | 4.0% | · | · | |
| Pretax Margin | 35.3% | -21.3% | · | -21.7% | -30.3% | -28.4% | · | -31.1% | -15.4% | -31.7% | · | -25.5% | 458.5% | 6.9% | · | -4.7% | |
| EBITDA Margin | 73.0% | 17.0% | · | 17.5% | 17.8% | 14.5% | · | 10.9% | 10.3% | 4.3% | · | 13.1% | 7.5% | 32.2% | · | 34.0% | |
| ROA | 2.1% | -1.3% | · | -1.3% | -1.8% | -1.7% | · | · | · | -3.1% | · | · | · | 0.62% | · | · | |
| ROE | 1062.9% | -204.5% | · | -29.2% | -25.0% | -16.2% | · | · | · | 272.7% | · | · | · | -1.3% | · | · | |
| ROIC | -279.4% | 10.1% | · | 36.6% | -52.3% | -20.9% | · | -14.1% | -9.1% | -9.2% | · | -9.2% | -6.6% | -2.6% | · | -6.5% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.6 | 1.9 | · | 2.0 | 2.3 | 1.5 | · | 2.0 | 2.2 | 1.1 | · | 1.6 | 1.7 | 2.6 | · | 3.4 | |
| Quick Ratio | 0.3 | 1.0 | · | 1.0 | 1.3 | 0.9 | · | 1.3 | 1.6 | 0.5 | · | 0.6 | 0.7 | 1.8 | · | 2.6 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -2.6 | · | -2.1 | -1.2 | 1.3 | · | 1.6 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.2 | · | 0.1 | |
| Receivables Turnover | 2.6 | 2.7 | · | 2.5 | 2.4 | 2.5 | · | 2.8 | 2.6 | 3.5 | · | 4.2 | 3.6 | 3.5 | · | 3.4 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-0.67 | $-2.08 | · | $-0.80 | $0.95 | $2.90 | · | $6.60 | $8.48 | $10.21 | · | $9.10 | $11.09 | $-11.36 | · | $-10.24 | |
| Revenue / Share | $4.86 | $5.01 | · | $5.08 | $5.17 | $5.18 | · | $5.42 | $5.48 | $5.61 | · | $5.83 | $5.05 | $3.24 | · | $3.21 | |
| Cash Flow / Share | · | $0.31 | · | · | · | $0.76 | · | · | · | $0.41 | · | · | · | $0.76 | · | · | |
| Cash / Share | $3.59 | $2.80 | · | $2.99 | $4.34 | $3.12 | · | $5.70 | $7.85 | $2.42 | · | $2.26 | $3.96 | $3.81 | · | $5.60 | |
| Dividend / Share | $0.02 | $0.02 | $0.02 | $1.01 | $1.01 | $1.00 | $0.99 | $0.98 | $0.97 | $0.96 | $0.95 | $0.94 | $0.94 | $0.93 | $0.92 | $0.91 | |
| Dividend Paid / Share | $0.02 | · | · | · | $1.01 | · | · | · | · | · | · | · | · | · | · | · | |
| EPS (TTM) | $-0.95 | $-3.54 | · | $-4.06 | $-4.52 | $-3.99 | · | $0.65 | $0.78 | $25.11 | · | $22.60 | $23.63 | $0.22 | · | $0.48 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $957M | $968M | · | $988M | $1.00B | $1.02B | · | $1.06B | $1.07B | $1.05B | · | $821M | $695M | $604M | · | $595M | |
| Net Income TTM | $-45M | $-170M | · | $-195M | $-216M | $-191M | · | $39M | $46M | $1.20B | · | $1.07B | $1.12B | $10M | · | $23M | |
| Market Cap | $711M | $943M | · | $1.88B | $2.37B | $3.02B | · | $3.72B | $2.77B | $3.20B | · | $3.01B | $3.27B | $3.08B | · | $2.50B | |
| P/E | -14.6 | -5.3 | · | -9.4 | -10.7 | -15.4 | · | 116.8 | 72.4 | 2.6 | · | 2.7 | 2.8 | 289.6 | · | 108.7 | |
| P/S | 0.7 | 1.0 | · | 1.9 | 2.4 | 3.0 | · | 3.5 | 2.6 | 3.0 | · | 3.7 | 4.7 | 5.1 | · | 4.2 | |
| P/B | -20.8 | -9.1 | · | -48.1 | 50.9 | 21.2 | · | 11.5 | 6.7 | 6.4 | · | 6.8 | 6.1 | -5.6 | · | -5.1 | |
| P / Tangible Book | · | · | · | · | 50.9 | 21.2 | · | 11.5 | 6.7 | 6.4 | · | 7.8 | 6.8 | · | · | · | |
| P / Cash Flow | · | 63.6 | · | · | · | 83.2 | · | · | · | 166.6 | · | · | · | 85.9 | · | · | |
| Dividend Yield | 7.7% | 10.8% | · | 10.4% | 8.2% | 7.9% | · | 5.0% | 6.7% | 4.3% | · | 6.0% | 5.4% | 5.7% | · | 6.6% | |
| Earnings Yield | -6.8% | -18.8% | · | -10.6% | -9.4% | -6.5% | · | 0.86% | 1.4% | 38.4% | · | 36.5% | 35.1% | 0.35% | · | 0.92% | |
| Payout Ratio | · | -3.3% | · | · | · | -94.4% | · | · | · | -0.73% | · | · | · | 737.0% | · | · | |
| Annual Payout | $55M | $102M | · | $196M | $194M | $238M | · | $187M | $185M | $137M | · | $179M | $177M | $174M | · | $165M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $976M | $1.04B | $941M | $600M | $590M |
| Operating Margin % | -10.4% | -19.1% | -13.7% | 19.0% | 20.2% |
| Net Income | $-182M | $-204M | $1.27B | $5M | $48M |
| Diluted EPS | $-3.80 | $-4.28 | $26.62 | $0.11 | $1.03 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 2.0 | 1.9 | 1.4 | 3.0 | 5.1 |
| Quick Ratio | 1.1 | 1.2 | 0.6 | 2.2 | 4.5 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-198M | $-204M | $-112M | $95M | $100M |
Institutional owners (13F) 256 filers · $824.9M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
256
Value held
$824.9M
New positions
44
Exited positions
46
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 44 (-7 vs prior Q) | 46 (0 vs prior Q) | 78 (-9 vs prior Q) | 77 (-4 vs prior Q) | -6.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $120,310,643 | 5,580,271 | 14.58% | Shares |
| BlackRock, Inc. | $102,384,215 | 7,376,384 | 12.41% | Shares |
| TURTLE CREEK ASSET MANAGEMENT INC. | $58,344,955 | 4,203,527 | 7.07% | Shares |
| Park West Asset Management LLC | $43,115,985 | 3,106,339 | 5.23% | Shares |
| STATE STREET CORP | $38,577,614 | 2,779,367 | 4.68% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $33,102,815 | 2,384,929 | 4.01% | Shares |
| EdgePoint Investment Group Inc. | $31,693,287 | 2,283,378 | 3.84% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $28,283,498 | 2,037,716 | 3.43% | Shares |
| Newtyn Management, LLC | $22,983,823 | 1,655,895 | 2.79% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $17,290,622 | 1,245,445 | 2.10% | Shares |
| CITADEL ADVISORS LLC | $16,274,869 | 1,172,541 | 1.97% | Shares |
| MAGNOLIA GROUP, LLC | $13,598,042 | 979,686 | 1.65% | Shares |
| GOLDMAN SACHS GROUP INC | $13,507,153 | 973,138 | 1.64% | Shares |
| Oakum Bay Capital LLC | $13,006,646 | 690,374 | 1.58% | Shares |
| MIG Capital, LLC | $12,272,383 | 569,220 | 1.49% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $11,176,787 | 805,244 | 1.35% | Shares |
| GILDER GAGNON HOWE & CO LLC | $10,878,908 | 783,783 | 1.32% | Shares |
| Broad Run Investment Management, LLC | $9,162,604 | 660,130 | 1.11% | Shares |
| MORGAN STANLEY | $8,711,004 | 627,593 | 1.06% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $8,543,988 | 615,561 | 1.04% | Shares |
| Harspring Capital Management, LLC | $8,319,922 | 599,418 | 1.01% | Shares |
| NORTHERN TRUST CORP | $7,171,559 | 516,683 | 0.87% | Shares |
| UBS Group AG | $7,115,138 | 512,618 | 0.86% | Shares |
| CenterBook Partners LP | $6,987,983 | 503,457 | 0.85% | Shares |
| AYAL Capital Advisors Ltd | $5,552,000 | 400,000 | 0.67% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $5,310,595 | 382,608 | 0.64% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,776,219 | 344,108 | 0.58% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $4,554,403 | 328,127 | 0.55% | Shares |
| Granahan Investment Management, LLC | $4,200,824 | 302,653 | 0.51% | Shares |
| PDT Partners, LLC | $4,114,573 | 296,439 | 0.50% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,996,052 | 287,900 | 0.48% | Put option |
| CIBC Private Wealth Group LLC | $3,977,460 | 103,715 | 0.48% | Shares |
| D. E. Shaw & Co., Inc. | $3,951,553 | 284,694 | 0.48% | Shares |
| Advisors Asset Management, Inc. | $3,916,374 | 181,650 | 0.47% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,897,365 | 280,790 | 0.47% | Shares |
| Invesco Ltd. | $3,732,651 | 268,923 | 0.45% | Shares |
| FourWorld Capital Management LLC | $3,685,140 | 265,500 | 0.45% | Shares |
| Bank of New York Mellon Corp | $3,685,000 | 265,490 | 0.45% | Shares |
| 14B Captial Management LP | $3,665,200 | 170,000 | 0.44% | Shares |
| CITADEL ADVISORS LLC | $3,607,412 | 259,900 | 0.44% | Call option |
| JPMORGAN CHASE & CO | $3,545,199 | 267,486 | 0.43% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,537,471 | 254,861 | 0.43% | Shares |
| Jump Financial, LLC | $3,494,220 | 251,745 | 0.42% | Shares |
| BlackBarn Capital Partners LP | $3,470,000 | 250,000 | 0.42% | Shares |
| HERALD INVESTMENT MANAGEMENT Ltd | $3,364,862 | 242,600 | 0.41% | Shares |
| MYDA Advisors LLC | $3,331,200 | 240,000 | 0.40% | Shares |
| Palliser Capital (UK) Ltd | $3,281,135 | 236,393 | 0.40% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $3,242,825 | 233,633 | 0.39% | Shares |
| Squarepoint Ops LLC | $3,137,366 | 226,035 | 0.38% | Shares |
| XTX Topco Ltd | $3,057,625 | 220,290 | 0.37% | Shares |
Activists & 5%+ owners 15 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person | June 27, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Nov. 29, 2006 | · | Initial filing | · | SEC |
| Worldview Technology Partners IV, L.P. (“WVTP IV”), Worldview Technology International IV, L.P. (“WVTI IV”), Worldview Strategic Partners IV, L.P. (“WVSP IV”), Worldview Capital IV, L.P.(“WVC IV”), Worldview Technology Partners III, L.P. (“WVTP III”), Worldview Technology International III, L.P. (“WVTI III”), Worldview Strategic Partners III, L.P. (“WVSP III”), Worldview III Carrier Fund, L.P. (“WVCF III”), Worldview Capital III, L.P. (“WVC III”), Worldview Equity I, L.L.C. (“WVE I”), James Wei (“Wei”), Michael Orsak (“Orsak”), Susumu Tanaka (“Tanaka”), Tim Weingarten (“Weingarten”) ×3 filings | Nov. 20, 2006 | · | Initial filing | · | SEC |
| Jerusalem Venture Partners IV, L.P. (“JVP IV”), Jerusalem Venture Partners IV-A, L.P. (“JVP IV-A”), Jerusalem Venture Partners IV (Israel), L.P. (“JVP IV (Israel)”), Jerusalem Venture Partners Entrepreneurs Fund IV, L.P. (“JVP E-Fund IV”), Jerusalem Venture Partners III, L.P. (“JVP III”), Jerusalem Venture Partners Entrepreneur Fund III, L.P. (“JVP E-Fund III”), Jerusalem Venture Partners III (Israel), L.P. (“JVP III (Israel)”), Jerusalem Partners IV, L.P.(“JP IV”), Jerusalem Partners IV – Venture Capital, L.P.(“JP IV VC”), Jerusalem Partners III, L.P.(“JP III”), Jerusalem Venture Partners III (Israel) Management Company Ltd. (“JVP III (Israel) Mgmt”), Jerusalem Venture Partners Corporation (“JVPC”), JVP Corp. IV (“JVPCIV”), Erel Margalit (“Margalit”) ×4 filings | Nov. 20, 2006 | · | Initial filing | · | SEC |
| Undisclosed reporting person | June 16, 2006 | · | Initial filing | · | SEC |
| Cisco Systems Capital Corporation, Cisco Systems, Inc. ×2 filings | June 27, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person | April 14, 2005 | · | Initial filing | M&A / sale | SEC |
| BCP Capital, L.P. (formerly Broadview Capital Partners L.P.), BCP Capital QPF, L.P. (formerly Broadview Capital Partners Qualified Purchaser Fund L.P.), BCP Affiliates Fund LLC (formerly Broadview Capital Partners Affiliates Fund LLC), Broadview BCPSBS Fund L.P., BCP General LLC (formerly Broadview Capital Partners Management LLC), BCI Holdings L.P., BV Holdings LLP (formerly Broadview Holdings LLP), Steven D. Brooks, Stephen J. Bachmann, Paul F. Deninger | March 16, 2005 | · | Initial filing | · | SEC |
| Oak Investment Partners IX, Limited Partnership, Oak Associates IX, LLC, Oak IX Affiliates Fund - A, Limited Partnership, Oak IX Affiliates Fund, Limited Partnership, Oak IX Affiliates, LLC, Oak Management Corporation, Bandel L. Carano, Gerald R. Gallagher, Edward F. Glassmeyer, Fredric W. Harman, Ann H. Lamont ×3 filings | Feb. 23, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person | Dec. 17, 2004 | · | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person | Aug. 5, 2004 | · | Initial filing | · | SEC |
| Broadview Capital Partners L.P., Broadview Capital Partners Qualified Purchaser Fund L.P., Broadview Capital Partners Affiliates Fund LLC, Broadview BCPSBS Fund L.P., Broadview Capital Partners Management LLC, BCI Holdings LP, Broadview Holdings LLP, Steven D. Brooks, Stephen J. Bachmann, Paul F. Deninger ×2 filings | April 21, 2004 | · | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person | April 14, 2004 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | April 9, 2004 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | April 9, 2004 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 33 insiders · 19 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Dave Schaeffer | CHAIRMAN, CEO, AND PRESIDENT | May 4, 2026 G | 1,258,990 | 0 | 0 | $0 |
| Thaddeus Gerard Weed | VICE PRESIDENT, CFO | Sept. 2, 2026 S | 193,050 | 0 | 4 | $-411,759 |
| Sean Robert Wallace | VP, CFO & Treasurer | March 2, 2022 S | 29,225 | 0 | 0 | $0 |
| Helen Heyoung Lee | CFO | Oct. 10, 2003 J | 0 | 0 | 0 | $0 |
| Reed R Harrison | President & COO | Sept. 10, 2009 M | 45,000 | 0 | 0 | $0 |
| Greg W O'Connor | VP, CHIEF OPERATING OFFICER | May 3, 2023 A | 16,000 | 0 | 0 | $0 |
| Henry W Kilmer | VP OF NETWORK STRATEGY | Sept. 15, 2026 S | 36,200 | 0 | 4 | $-213,960 |
| Mark Andrew Harris | VP & Chief Revenue Officer | Dec. 31, 2025 A | 110,168 | 0 | 0 | $0 |
| John B. Chang | VP & CHIEF LEGAL OFFICER | Dec. 31, 2025 A | 188,847 | 0 | 0 | $0 |
| James Bubeck | CHIEF REVENUE OFFICER | June 4, 2025 S | 55,142 | 0 | 0 | $0 |
| David Allen Kapp | VP & CHIEF TECHNICAL OFFICER | Aug. 11, 2023 S | 6,600 | 0 | 0 | $0 |
| Raymond B Kummer | CTO Emeritus | Jan. 3, 2023 A | 60,000 | 0 | 0 | $0 |
| Timothy G Oneill | VP Construction | June 2, 2021 S | 33,600 | 0 | 0 | $0 |
| Robert N Beury JR | VP & Chief Legal Officer | May 1, 2019 A | 41,440 | 0 | 0 | $0 |
| Ernest Ortega | Chief Revenue Officer | Sept. 16, 2015 S | 38,800 | 0 | 0 | $0 |
| Jeffrey Karnes | VP Sales & CRO | May 1, 2013 S | 72,218 | 0 | 0 | $0 |
| Mark A Schleifer | VP of IP Engineering | Dec. 2, 2011 M | 0 | 0 | 0 | $0 |
| Warren Thrasher | VP Global Customer Net Ops | Oct. 26, 2005 A | · | 0 | 0 | $0 |
| Bruce Thomas Wagner | VP of Sales | Feb. 12, 2004 D | 259,999 | 0 | 0 | $0 |
| Eve N Howard | Director | Sept. 30, 2026 A | 30,751 | 0 | 0 | $0 |
| Deneen C Howell | Director | Sept. 30, 2026 A | 35,775 | 0 | 0 | $0 |
| de Sa Paul | Director | Sept. 30, 2026 A | 37,237 | 0 | 0 | $0 |
| Sheryl Lynn Kennedy | Director | Sept. 30, 2026 A | 17,135 | 0 | 3 | $-180,609 |
| Marc Montagner | Director | Sept. 30, 2026 A | 103,287 | 0 | 0 | $0 |
| Lewis H Ferguson | Director | Sept. 30, 2026 A | 27,984 | 0 | 3 | $-189,172 |
| Steven D Brooks | Director | Sept. 30, 2026 A | 62,138 | 0 | 0 | $0 |
| Blake Bath | Director | March 31, 2025 A | 12,606 | 0 | 0 | $0 |
| Carolyn Katz | Director | Oct. 1, 2021 A | 15,750 | 0 | 0 | $0 |
| Tim Weingarten | Director | Oct. 1, 2019 A | 28,111 | 0 | 0 | $0 |
| Richard Liebhaber | Director | Oct. 1, 2019 A | 67,845 | 0 | 0 | $0 |
| Erel N Margalit | Director | July 1, 2013 A | 2,500 | 0 | 0 | $0 |
| Edward F Glassmeyer | Director | Jan. 8, 2007 A | 11,250 | 0 | 0 | $0 |
| Kenneth D Peterson JR | · | March 23, 2007 D | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 32 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| BSJR · Invesco Exchange-Traded Self-Indexe… | 1.12% | 11,284,000 | Oct. 2, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.22% | 1,960 NS | July 31, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.09% | 2,389 NS | July 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.05% | 46,521 NS | July 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.05% | 141,230 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.04% | 143,773 SH | Oct. 2, 2026 | Daily |
| FCOM · FIDELITY COVINGTON TRUST | 0.04% | 51,643 NS | July 31, 2026 | N-PORT |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.04% | 166,552 SH | Aug. 19, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.04% | 30,705 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.04% | 52,878 SH | Aug. 19, 2026 | Daily |
| VOX · VANGUARD WORLD FUND | 0.04% | 175,663 SH | Aug. 19, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.03% | 46,628 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.03% | 463,177 SH | Sept. 11, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 13,541 NS | July 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.02% | 23,558 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.02% | 593,234 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 283,797 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 1,254,982 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 547,494 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 1,031,383 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 14,852 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.00% | 2,851 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 67,267 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 11,882 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,441,723 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 4,066 SH | Aug. 19, 2026 | Daily |
| IJR · iShares Trust | · | 2,911,364 SH | Sept. 10, 2026 | Daily |
| IJT · iShares Trust | · | 243,995 SH | Sept. 9, 2026 | Daily |
| IJS · iShares Trust | · | 195,958 SH | Sept. 8, 2026 | Daily |
| XJR · iShares Trust | · | 6,573 SH | Aug. 31, 2026 | Daily |
| ISCB · iShares Trust | · | 2,243 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 11,630 SH | Sept. 11, 2026 | Daily |
CCOI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 18 analysts
BUY
Median target
$12.00
+41.8%
3 16.7%
Strong Buy
6 33.3%
Buy
7 38.9%
Hold
2 11.1%
Sell
0 0.0%
Strong Sell
12-Month Price Target
11 analysts · 2026-09-28Mean target $15.27 +80.5%
← Below all targets
Current price $8.46
Low$9.00
Mean$15.27
High$30.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| CCOI | $1.08B | -5.7 | -5.8% | -18.7% | 2120.8% | · |
| LUMN | $7.97B | -4.4 | -5.4% | -14.0% | 532.6% | · |
| IRDM | $1.82B | 16.4 | 4.9% | 13.1% | 24.4% | · |
| BAND | · | -35.9 | 0.71% | -1.7% | -3.3% | 39.1% |
| ATEX | $722M | 7.9 | 7.8% | 1394.2% | 36.1% | · |
| LILA | · | -2.4 | -0.10% | -13.8% | -74.4% | · |
| ELWT | · | -6.3 | 154.5% | -19.6% | 608.8% | 18.5% |
| NXPL | · | · | · | · | · | · |
| IQST | · | -1.0 | 11.9% | · | · | · |
Latest News Recent headlines mentioning this company
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Source: SEC 10-Q filed Aug 6, 2026