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Frank G. Louthan

Research Analyst at Raymond James Financial, Inc.

Frank G. Louthan is a Managing Director, Equity Analyst at Raymond James Financial, Inc., specializing in telecommunications and technology sectors with a focus on communications services. He covers 19 companies including Lumen Technologies (LUMN), GDS Holdings (GDS), Uniti Group (UNIT), Akamai Technologies (AKAM), Altice USA (ATUS), Frontier Communications (FYBR), and Dycom Industries (DY), with a career-long track record of 51% success rate across 470 ratings and an average return of -0.60% per rating according to TipRanks, though specific recent ROIs are unavailable. Louthan began his career as a publishing analyst in telecommunications services in 1999, joined Raymond James in 2001, and has maintained coverage through major industry shifts like the dot-com bust. His professional credentials include long-term FINRA-registered analyst status in a highly specialized field.

Frank G. Louthan's questions to COGENT COMMUNICATIONS HOLDINGS (CCOI) leadership

Question · Q4 2025

Frank G. Louthan asked about the current market valuation for Cogent's data centers, considering the original target of $9-10 million per megawatt, and explored the potential for leasing these assets. He also questioned the additional room for pricing and leasing more IPv4 licenses.

Answer

CEO Dave Schaeffer stated that IPv4 leasing revenue grew 44% year-over-year, with 46% of addresses currently leased, and anticipated continued growth. Regarding data centers, he noted that valuations have improved over the past year, but Cogent's repurposed switch sites differ from purpose-built campuses. He emphasized the focus on sales to monetize a significant portion of the footprint, which would provide cash proceeds and reduce operating expenses, without disclosing specific per-megawatt pricing to maximize negotiation value.

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