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COGENT COMMUNICATIONS HOLDINGS, INC.

For the period ended Dec 31, 2025. Filed Feb 20, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 20, 2026

CCOI$4.45+11.8%Stored close · as of Nov 9, 2026

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Contents

Table of Contents

COGENT COMMUNICATIONS HOLDINGS, INC.

ANNUAL REPORT ON FORM 10-K

FOR THE YEAR ENDED DECEMBER 31, 2025

TABLE OF CONTENTS

​​​ ​ ​Page
Part I · ​ · ​
Item 1Business​4
Item 1ARisk Factors​17
Item 1BUnresolved Staff Comments​34
Item 1CCybersecurity​34
Item 2Properties​35
Item 3Legal Proceedings​36
Item 4Mine Safety Disclosures​36
Part II​​
Item 5Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities​37
Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations​38
Item 7AQuantitative and Qualitative Disclosures About Market Risk​53
Item 8Financial Statements and Supplementary Data​55
Item 9Changes in and Disagreements with Accountants on Accounting and Financial Disclosure​94
Item 9AControls and Procedures​94
Item 9BOther Information​97
Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections​97
Part III​​​
Item 10Directors, Executive Officers and Corporate Governance​98
Item 11Executive Compensation​98
Item 12Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters​98
Item 13Certain Relationships and Related Transactions, and Director Independence​98
Item 14Principal Accountant Fees and Services​98
Part IV​​
Item 15Exhibit and Financial Statement Schedules​99
Signatures105

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Annual Report on Form 10-K of Cogent Communications Holdings, Inc. (the “Company,” “Cogent,” “we,” “our” or “us”) may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements are not statements of historical facts, but rather reflect our current expectations concerning future results and events. You can identify these forward-looking statements by our use of words such as “anticipates,” “believes,” “continues,” “expects,” “intends,” “likely,” “may,” “opportunity,” “plans,” “potential,” “project,” “will,” and similar expressions to identify forward-looking statements, whether in the negative or the affirmative, though not all forward-looking statements use these words. We cannot guarantee that we actually will achieve these plans, intentions or expectations. These forward-looking statements are subject to risks and uncertainties including those discussed in Item 1A “Risk Factors” and other factors, some of which are beyond our control, which could cause actual results to differ materially from those forecasts or anticipated in such forward-looking statements.

You should not place undue reliance on these forward-looking statements, which reflect our view only as of the date of this report. We undertake no obligation to update these statements or publicly release the result of any revisions to these statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.