Exhibit 99.1

Cogent Communications Reports Third Quarter 2022 Results and Increases its Regular Quarterly Dividend on its Common Stock

Financial and Business Highlights

[WASHINGTON, D.C. November 3, 2022] Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (“Cogent”) today announced service revenue of $150.0 million for the three months ended September 30, 2022, an increase of 1.0% from the three months ended June 30, 2022 and an increase of 1.4% from the three months ended September 30, 2021. Foreign exchange rates negatively impacted service revenue growth from the three months ended June 30, 2022 to the three months ended September 30, 2022 by $1.5 million and negatively impacted service revenue growth from the three months ended September 30, 2021 to the three months ended September 30, 2022 by $4.2 million. On a constant currency basis, service revenue increased by 2.0% from the three months ended June 30, 2022 to the three months ended September 30, 2022 and increased by 4.3% from the three months ended September 30, 2021 to the three months ended September 30, 2022.

The impact of excise taxes, including Universal Service Fund fees, recorded on a gross basis and included in service revenue and cost of network operations expense, positively impacted service revenue growth from the three months ended June 30, 2022 to the three months ended September 30, 2022 by $0.7 million and negatively impacted service revenue growth from the three months ended September 30, 2021 to the three months ended September 30, 2022 by $0.7 million. On a constant currency basis, and adjusting for the impact of changes in excise tax revenue, service revenue increased by 1.6% from the three months ended June 30, 2022 to the three months ended September 30, 2022 and increased by 4.7% from the three months ended September 30, 2021 to the three months ended September 30, 2022.

On-net service is provided to customers located in buildings that are physically connected to Cogent’s network by Cogent facilities. On-net revenue was $113.2 million for the three months ended September 30, 2022, an increase of 1.1% from the three months ended June 30, 2022 and an increase of 1.9% from the three months ended September 30, 2021.

Off-net customers are located in buildings directly connected to Cogent’s network using other carriers’ facilities and services to provide the last mile portion of the link from the customers’ premises to Cogent’s network. Off-net revenue was $36.6 million for the three months ended September 30, 2022; an increase of 0.9% from the three months ended June 30, 2022 and a decrease of 0.1% from the three months ended September 30, 2021.

Non-core services are legacy services, which Cogent acquired and continues to support but does not actively sell.

GAAP gross profit is defined as total service revenue less network operations expense, depreciation and amortization and equity-based compensation included in network operations expense. GAAP gross margin is defined as GAAP gross profit divided by total service revenue. GAAP gross profit increased by 1.8% from the three months ended September 30, 2021 to $69.9 million for the three months ended September 30, 2022 and increased by 1.5% from the three months ended June 30, 2022. GAAP gross margin was 46.6% for the three months ended September 30, 2022, 46.4% for the three months ended September 30, 2021 and 46.4% for the three months ended June 30, 2022.

Non-GAAP gross profit represents service revenue less network operations expense, excluding equity-based compensation and amounts shown separately (depreciation and amortization expense). Non-GAAP gross margin is defined as Non-GAAP gross profit divided by total service revenue. Non-GAAP gross profit increased by 1.7% from the three months ended September 30, 2021 to $93.0 million for the three months ended September 30, 2022 and increased by 1.0% from the three months ended June 30, 2022. Non-GAAP gross margin was 62.0% for the three months ended September 30, 2022, 61.8% for the three months ended September 30, 2021 and 62.0% for the three months ended June 30, 2022.

Excise taxes, including Universal Service Fund fees, recorded on a gross basis and included in service revenue and cost of network operations expense were $4.1 million for the three months ended September 30, 2022, $4.8 million for the three months ended September 30, 2021 and $3.4 million for the three months ended June 30, 2022.

Net cash provided by operating activities increased by 13.0% from the three months ended September 30, 2021 to $53.6 million for the three months ended September 30, 2022 and increased by 55.7% from the three months ended June 30, 2022.

Earnings before interest, taxes, depreciation and amortization (EBITDA), including $2.0 million of Sprint (T-Mobile Wireline) acquisition costs, increased by 0.2% from the three months ended September 30, 2021 to $57.9 million for the three months ended September 30, 2022 and decreased by 1.0% from the three months ended June 30, 2022. EBITDA margin, including $2.0 million of Sprint (T-Mobile Wireline) acquisition costs, was 38.6% for the three months ended September 30, 2022, 39.0% for the three months ended September 30, 2021 and 39.4% for the three months ended June 30, 2022.

Earnings before interest, taxes, depreciation and amortization (EBITDA), excluding $2.0 million of Sprint (T-Mobile Wireline) acquisition costs, increased by 3.7% from the three months ended September 30, 2021 to $59.9 million for the three months ended September 30, 2022 and increased by 2.4% from the three months ended June 30, 2022. EBITDA margin, excluding $2.0 million of Sprint (T-Mobile Wireline) acquisition costs, was 39.9% for the three months ended September 30, 2022, 39.0% for the three months ended September 30, 2021 and 39.4% for the three months ended June 30, 2022.

Basic net and diluted (loss) income per share was $(0.17) for the three months ended September 30, 2022, $0.29 and $0.28 for the three months ended September 30, 2021 and $0.24 for the three months ended June 30, 2022.

Total customer connections increased by 3.6% from September 30, 2021 to 96,321 as of September 30, 2022 and increased by 0.6% from June 30, 2022. On-net customer connections increased by 3.1% from September 30, 2021 to 82,614 as of September 30, 2022 and increased by 0.4% from June 30, 2022. Off-net customer connections increased by 6.9% from September 30, 2021 to 13,359 as of September 30, 2022 and increased by 1.5% from June 30, 2022.

The number of on-net buildings increased by 118 from September 30, 2021 to 3,126 as of September 30, 2022 and increased by 31 from June 30, 2022.

Quarterly Dividend Increase Approved

On November 2, 2022, Cogent’s Board approved a regular quarterly dividend of $0.915 per share payable on December 2, 2022 to shareholders of record on November 18, 2022. This fourth quarter 2022 regular dividend represents an increase of $0.01 per share, or 1.1%, from the third quarter 2022 regular dividend of $0.905 per share and an annual increase of 10.2% from the fourth quarter 2021 dividend of $0.830 per share.

The payment of any future dividends and any other returns of capital will be at the discretion of the Board and may be reduced, eliminated or increased and will be dependent upon Cogent’s financial position, results of operations, available cash, cash flow, capital requirements, limitations under Cogent’s debt indentures and other factors deemed relevant by the Board.

Impact of COVID-19

Cogent continues to be impacted by the COVID-19 pandemic and the accompanying responses by governments around the world. The recent spread of variants of COVID-19 has introduced new uncertainty. A resurgence of COVID-19, due to immunity-resistant variants, may cause our corporate customers to continue to delay the return of their employees to the office, to cause these customers to shift workers in the office back to remote work and to delay further opening new offices. A resurgence may also cause Cogent’s employees to be more reluctant to continue in, or make new employees more reluctant to accept, full time, in-office positions.

The ongoing impact of the COVID-19 pandemic, including the spread of variant strains, and related government restrictions on Cogent’s business is unknown as a significant amount of uncertainty and volatility remains. Cogent does not know the ultimate scope and duration of the pandemic, the availability, efficacy and uptake of vaccines and therapeutic treatments, government actions that have been taken, or may be taken in the future in response to the pandemic and global economic conditions during and after the pandemic. Cogent has experienced a slight slowdown in the availability and delivery of networking equipment but Cogent believes it can adequately manage the operation, maintenance, upgrading and growth of its network. A worsening or prolonged slowdown may impact our ability to expand and augment our network. Most Cogent employees worldwide returned to its offices on a full-time basis in the first quarter of 2022. Cogent is implementing measures to protect its workforce, but it can provide no assurance that these measures will be sufficient. Cogent’s decisions to require its employees to return to its offices on a full-time basis and to implement a COVID-19 vaccine mandate, where legally permitted, may impede its ability to retain existing employees or attract new employees. Moreover, Cogent’s results of operations may be adversely affected in the future as the pandemic and the related government restrictions continue or are reintroduced. Cogent may also experience slowdowns in new customer orders, find it difficult to collect from customers who are experiencing financial distress, undergo an increase in customer churn, encounter difficulties accessing the buildings and locations where Cogent installs new services and serves existing customers, or have difficulties procuring, shipping or installing necessary equipment on its network. Cogent may find that the impact of the pandemic on its vendors and their respective workforces may slow the delivery of services from these vendors to Cogent. Cogent may also find that its largest customer base, which is served primarily in its multi-tenant office buildings, may be adversely affected by falling demand for commercial office space in central business districts as companies located in these buildings elect not to return to their office space either on a temporary or even permanent basis or slow the pace of opening new offices. In addition, Cogent’s corporate customer base may reduce their overall number of locations due to adverse economic conditions or new working configurations which may adversely affect Cogent’s number of corporate connections and service revenues. As a result, the global economic impact of the COVID-19 pandemic may have prolonged effects that impact Cogent’s business well into the future. These and other risks are described in more detail in Cogent’s Annual Report on Form 10-K for the year ended December 31, 2021 and in its Quarterly Report on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022.

Conference Call and Website Information

Cogent will host a conference call with financial analysts at 8:30 a.m. (ET) on November 3, 2022 to discuss Cogent’s operating results for the third quarter of 2022 and to discuss Cogent’s expectations for full year 2022. Investors and other interested parties may access a live audio webcast of the earnings call in the “Events” section of Cogent’s website at www.cogentco.com/events. A replay of the webcast, together with the press release, will be available on the website following the earnings call. A downloadable file of Cogent’s “Summary of Financial and Operational Results” and a transcript of its conference call will also be available on Cogent’s website following the conference call.

About Cogent Communications

Cogent Communications (NASDAQ: CCOI) is a multinational, Tier 1 facilities-based ISP. Cogent specializes in providing businesses with high-speed Internet access, Ethernet transport, and colocation services. Cogent’s facilities-based, all-optical IP network backbone provides services in 219 markets globally.

Cogent Communications is headquartered at 2450 N Street, NW, Washington, D.C. 20037. For more information, visit www.cogentco.com. Cogent Communications can be reached in the United States at (202) 295-4200 or via email at info@cogentco.com.

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COGENT COMMUNICATIONS HOLDINGS, INC., AND SUBSIDIARIES

Summary of Financial and Operational Results

Schedules of Non-GAAP Measures

EBITDA, EBITDA, as adjusted for Sprint acquisition costs, EBITDA margin and EBITDA, as adjusted for Sprint (T-Mobile Wireline) acquisition costs, margin

Acquisition of Sprint Communications

On September 6, 2022, Cogent Infrastructure, Inc., a Delaware corporation and a wholly owned subsidiary of Cogent Communications Holdings Inc., (“Holdings”) entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Sprint Communications LLC, a Kansas limited liability company (“Sprint”) and an indirect wholly owned subsidiary of T-Mobile US, Inc., a Delaware corporation (“T-Mobile”), and Sprint LLC, a Delaware limited liability company and a direct wholly owned subsidiary of T-Mobile, pursuant to which Holdings will acquire the U.S. long-haul fiber network (including the non-U.S. extensions thereof) of Sprint Communications and its subsidiaries (the “Wireline Business”). The Purchase Agreement provides that, upon the terms and conditions set forth therein, Holdings will purchase from the Seller all of the issued and outstanding membership interests (the “Purchased Interests”) of a Delaware limited liability company that holds Sprints’ assets and liabilities relating to the Wireline Business (such transactions contemplated by the Purchase Agreement, collectively, the “Transaction”).

Acquisition Related Costs

In connection with the Transaction and negotiation of the Purchase Agreement the Company incurred $2.0 million of professional fees in the three months ended September 30, 2022.

EBITDA represents net cash flows provided by operating activities plus changes in operating assets and liabilities, cash interest expense and cash income tax expense. Management believes the most directly comparable measure to EBITDA calculated in accordance with generally accepted accounting principles in the United States, or GAAP, is net cash provided by operating activities. The Company also believes that EBITDA is a measure frequently used by securities analysts, investors, and other interested parties in their evaluation of issuers. EBITDA, as adjusted for Sprint acquisition costs, represents EBITDA plus costs related to the Company’s acquisition of Sprints Wireline Business. EBITDA margin is defined as EBITDA divided by total service revenue. EBITDA, as adjusted for Sprint acquisition costs margin is defined as EBITDA, as adjusted for Sprint acquisition costs, divided by total service revenue.

The Company believes that EBITDA, EBITDA, as adjusted for Sprint (T-Mobile Wireline) acquisition costs, EBITDA margin and EBITDA as adjusted for Sprint (T-Mobile Wireline) acquisition costs margin are useful measures of its ability to service debt, fund capital expenditures and expand its business. The measurements are an integral part of the internal reporting and planning system used by management as a supplement to GAAP financial information. EBITDA, EBITDA, as adjusted for Sprint acquisition costs, EBITDA margin and EBITDA as adjusted for Sprint acquisition costs margin are not recognized terms under GAAP and accordingly, should not be viewed in isolation or as a substitute for the analysis of results as reported under GAAP, but rather as a supplemental measure to GAAP. For example, these measures are not intended to reflect the Company’s free cash flow, as it does not consider certain current or future cash requirements, such as capital expenditures, contractual commitments, and changes in working capital needs, interest expenses and debt service requirements. The Company’s calculations of these measures may also differ from the calculations performed by its competitors and other companies and as such, its utility as a comparative measure is limited.

EBITDA, and EBITDA, as adjusted for Sprint acquisition costs, are reconciled to net cash provided by operating activities in the table below.

Constant currency revenue is reconciled to service revenue as reported in the tables below.

Constant currency impact on revenue changes – sequential periods

Constant currency impact on revenue changes – prior year periods

Revenue on a constant currency basis and adjusted for the impact of excise taxes is reconciled to service revenue as reported in the tables below.

Constant currency and excise tax impact on revenue changes – sequential periods

Constant currency and excise tax impact on revenue changes – prior year periods

Non-GAAP gross profit and Non-GAAP gross margin

Non-GAAP gross profit and Non-GAAP gross margin are reconciled to GAAP gross profit and GAAP gross margin in the table below.

Gross and Net Leverage Ratios

Gross leverage ratio is defined as total debt divided by the trailing last 12 months EBITDA, as adjusted for Sprint acquisition costs. Net leverage ratio is defined as total net debt (total debt minus cash and cash equivalents) divided by the trailing last 12 months EBITDA, as adjusted for Sprint acquisition costs. Cogent’s gross leverage ratio and net leverage ratio are shown below.

Cogent’s SEC filings are available online via the Investor Relations section of www.cogentco.com or on the Securities and Exchange Commission’s website at www.sec.gov.

COGENT COMMUNICATIONS HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF SEPTEMBER 30, 2022 AND DECEMBER 31, 2021

(IN THOUSANDS, EXCEPT SHARE DATA)

COGENT COMMUNICATIONS HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2022 AND SEPTEMBER 30, 2021

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)