Tucows Inc
NASDAQ:TCX
Tucows Inc
Tucows, Inc. is an Internet services company. The company is headquartered in Toronto, Ontario and currently employs 1,000 full-time employees. The firm operates through three segments: Fiber Internet Services, Mobile Services and Domain Services. Its Fiber Internet Services segment provides retail high speed Internet access to individuals and small businesses primarily through the Ting Website. Its Mobile Services segment offers retail sale of mobile phones, retail telephony services to individuals and small businesses primarily through the Ting Website. The firm also offers Mobile Service Enabler (MSE) solutions and professional services to retail mobile providers as well as its own retail mobile phone services. Its Domain Services segment includes wholesale and retail domain name registration services, value-added services and portfolio services. The firm provides these services primarily through a global Internet-based distribution network of Internet service providers (ISPs), Web hosting companies and other providers of Internet services to end-users.
Tucows, Inc. is an Internet services company. The company is headquartered in Toronto, Ontario and currently employs 1,000 full-time employees. The firm operates through three segments: Fiber Internet Services, Mobile Services and Domain Services. Its Fiber Internet Services segment provides retail high speed Internet access to individuals and small businesses primarily through the Ting Website. Its Mobile Services segment offers retail sale of mobile phones, retail telephony services to individuals and small businesses primarily through the Ting Website. The firm also offers Mobile Service Enabler (MSE) solutions and professional services to retail mobile providers as well as its own retail mobile phone services. Its Domain Services segment includes wholesale and retail domain name registration services, value-added services and portfolio services. The firm provides these services primarily through a global Internet-based distribution network of Internet service providers (ISPs), Web hosting companies and other providers of Internet services to end-users.
Revenue growth: Tucows' consolidated revenue rose 10% year-over-year in Q2 2025 to $98.5 million, marking the fourth straight quarter of double-digit growth.
Profitability: Adjusted EBITDA jumped 37% year-over-year to $12.6 million for the quarter and $26.2 million year-to-date, putting the company slightly ahead of pace for its $47 million full-year guidance.
Domains & Wavelo strength: The Domains and Wavelo businesses outperformed, driving much of the upside, with Wavelo delivering its best quarter ever and Domains signing a major registry services contract with Radix.
Ting transformation: Ting saw improved subscriber growth and a major reduction in operating expenses, but still reported an adjusted EBITDA loss, although losses narrowed sharply.
Balance sheet progress: Corporate net debt declined for a fifth consecutive quarter to $190.3 million, and leverage ratios remain comfortably within covenants.
Strategic asset sales: The company sold nonstrategic fiber assets for over $15 million, furthering its pivot from network builder to pure-play ISP.
Guidance on track: At midyear, results are in line or ahead of expectations, and management reiterated its $47 million adjusted EBITDA target for the full year.
