Cogent Communications Holdings, Inc. (CCOI) Presents at Bank of America 2026 Media,Communications & Entertainment Conference Transcript

Michael Funk BofA Securities, Research Division Always pleased to have Dave Schaeffer from Cogent here with us. He's kind enough to come every year and great to hear the latest from you, Dave. So thank you again.

David Schaeffer Founder, Chairman, CEO & President Michael, thank you for hosting me. As always, thank BofA for a great venue and thank investors for taking time out of their day to hear what we want to talk about.

Michael Funk BofA Securities, Research Division Outstanding. So I had a number of questions that I want to go through. I will leave a few minutes at the end if there are any questions from the audience. So when I mentioned that, there should be microphones going around, just raise your hand and we'll take time for that. So Dave, I think you would admit that growth has been disappointing and below your own projections for the last year or so due to a number of factors. So -- can you just remind us maybe what went right and what went wrong or maybe not wrong, but didn't meet expectations in the last 12 or 18 months? And then why you believe that's going to change in the next 12 or 18 months?

David Schaeffer Founder, Chairman, CEO & President So let me start by laying kind of the backdrop. Cogent had done no acquisitions between June of 2005 and May of 2023. In that 18-year period, we had a compounded average growth rate of 10.2% a year. Our corporate segment actually was outperforming that growing at