Tucows Inc
NASDAQ:TCX

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Tucows Inc
NASDAQ:TCX
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Price: 20.79 USD -5.93% Market Closed
Market Cap: 229.9m USD

Tucows Inc
Investor Relations

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.

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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Aug 7, 2025
AI Summary
Q2 2025

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.

Key Financials
Revenue
$98.5 million
Gross Profit
$22.1 million
Adjusted EBITDA
$12.6 million
Year-to-date Adjusted EBITDA
$26.2 million
Corporate Net Debt
$190.3 million
Net Leverage
3.14x
Interest Coverage
3.99x
Domains Revenue
$67.6 million
Domains Adjusted EBITDA
$12.5 million
Wavelo Revenue
$12.7 million
Wavelo Gross Margin
$12.6 million
Wavelo Adjusted EBITDA
$5.4 million
Ting Revenue
$16.4 million
Ting Adjusted EBITDA
-$600,000
Ting Subscribers
52,100
Cash from Operating Activities
$6.6 million
Cash and Equivalents
$52 million
Restricted Cash and Secured Note Reserve Funds
$16.6 million
Capital Expenditures
$3.5 million
Proceeds from Sale of Property & Equipment (Q2)
$11 million
Gain from Sale of Property & Equipment (Q2)
$2.1 million
Subsequent Sale Proceeds (Q3)
$7 million
Subsequent Gain (Q3)
$3.6 million
Other Earnings Calls

Management

Mr. Elliot Noss
President, CEO & Director
No Bio Available
Mr. Bret Fausett
Chief Legal Officer & VP of Regulatory Affairs
No Bio Available
Mr. David Woroch
Chief Executive Officer of Tucows Domains Services
No Bio Available
Mr. Justin Reilly
Chief Executive Officer of Wavelo
No Bio Available
Mr. Ivan Ivanov
Chief Financial Officer
No Bio Available
Ms. Monica Webb
Senior Director of Investor Relations
No Bio Available
Madeleine Stoesser
PR & Corporate Communications Lead
No Bio Available
Ms. Jenn Didine
Vice President of People
No Bio Available
Mr. Michael Cooperman
Senior Advisor
No Bio Available

Contacts

Address
ONTARIO
TORONTO
96 Mowat Ave
Contacts
+14168187060.0
www.tucows.com