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Cogent Communications Holdings, Inc. (CCOI) CEO David Schaeffer on Q1 2021 Results - Earnings Call Transcript

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Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Q1 2021 Earnings Conference Call May 1, 2021 8:30 AM ET

Company Representatives

David Schaeffer - Chairman, Chief Executive Officer

Sean Wallace - Chief Financial Officer

Conference Call Participants

Michael Zolezzi - Cowen & Company

Walter Piecyk - LightShed

Tim Horan - Oppenheimer

Nick Del Deo - MoffettNathanson

James Breen - William Blair

Evan Young - KeyBanc

Frank Louthan - Raymond James

Angela Zhao - Bank of America

Bora Lee - RBC Capital Markets


Good morning. And welcome to the Cogent Communications Holdings First Quarter 2021 Earnings Conference Call. As a reminder this conference call in being recorded, and will be available for replay as www.cogentco.com/. A transcript of this call will be posted on the same website when it becomes available. Cogent’s summary of financial and operational results attached to its press release can be downloaded from the Cogent website.

I would now like to turn the call over to Mr. Dave Schaeffer, Chairman and Chief Executive Officer of Cogent Communications Holdings.

David Schaeffer

Thank you and good morning everyone. Welcome to our first quarter 2021 earnings conference call. I’m Dave Schaeffer, Cogent’s Chief Executive Officer. With me on this morning’s call is Sean Wallace, our Chief Financial Officer.

Now, for a few comments on our results: As a number of COVID-19 cases in the United States have begun to decline, and businesses have initiated plans to begin the reopening offices. We have begun to see improving business climate for our corporate segment. We have seen declining unit churn in our corporate segment, sequentially for the last five months, and our churn levels for the first quarter were lower than the elevated levels that we saw in 2020.

Our NetCentric business continues to benefit from the greater than expected growth in streaming subscriptions

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