TUCOWS INC /PA/ TCX

Technology SIC 7374 - Services-Computer Processing & Data Preparation NAICS Information › Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services derived Nasdaq

Our mission is to provide simple useful services that help people unlock the power of the Internet.

We accomplish this by reducing the complexity of our customers' experience as they access the Internet (at home or on the go) and while using Internet services such as domain name registration, email and other Internet related services. We are organized into three operating and reporting segments - Ting, Wavelo, and Tucows Domains. Each segment is differentiated primarily by their services, the markets they serve and the regulatory environments in which they operate. The Ting segment contains the operating results of our retail high speed Internet access operations, including its wholly owned subsidiaries - Cedar and Simply Bits. The Wavelo segment includes our platform and professional services offerings, as well as the billing solutions to Internet services providers ("ISPs"). Tucows Domains includes wholesale and retail domain name registration services, as well as value-added services derived through our OpenSRS, Enom, Ascio, EPAG and Hover brands.

Last close 11.98 2026-10-23
Market cap $134.0M 2026-06-30 share count
52-week range 8.45 - 25.17

Valuation FY2025 figures against the last close

P/S0.3x
P/E—
P/FCF—
EV/EBITDA15.3x
Dividend yield—
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $390.3M$362.3M$339.3M$321.1M$304.3M$311.2M$337.1M$346.0M$329.4M$189.8M
Cost of revenue $296.3M$279.2M$272.7M$242.9M$226.0M$225.7M$236.4M$249.2M$244.9M$126.8M
Gross profit $94.0M$83.0M$66.7M$78.2M$78.3M$85.5M$100.8M$96.8M$84.5M$63.1M
R&D $17.8M$18.6M$19.2M$14.2M$14.3M$12.4M$9.7M$8.7M$7.3M$4.5M
SG&A $42.9M$37.1M$33.4M$30.8M$22.4M$20.3M$17.9M$17.7M$13.6M$11.4M
Total operating expenses $117.4M$148.0M$130.3M$109.9M$86.1M$78.6M$71.4M$67.4M$57.4M$38.0M
Operating income -$23.5M-$65.0M-$63.7M-$31.7M-$7.8M$6.9M$29.3M$29.3M$27.1M$25.0M
Interest expense $57.2M$54.4M$46.3M$14.6M$4.6M$3.6M$4.8M$3.7M$3.6M$450.0K
Pre-tax income -$67.3M-$101.9M-$103.1M-$27.8M$7.3M$10.8M$24.6M$26.2M$24.1M$25.1M
Income tax $8.5M$8.0M$6.9M$217.0K$3.9M$5.0M$9.2M$9.0M$1.7M$9.0M
Net income -$75.8M-$109.9M-$96.2M-$27.6M$3.4M$5.8M$15.4M$17.1M$22.3M$16.1M
EPS, basic -6.85-10.02-8.85-2.560.320.551.451.622.121.53
EPS, diluted ——-8.85-2.560.310.541.431.592.071.50
Shares, diluted (wtd. avg.) 11.1M11.0M10.9M10.8M10.8M10.7M10.8M10.8M10.8M10.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $46.8M$56.9M$92.7M$23.5M$9.1M$8.3M$20.4M$12.6M$18.0M$15.1M
Receivables $24.5M$20.9M$22.2M$18.4M$14.6M$15.5M$14.6M$10.8M$12.4M$10.9M
Inventory $3.9M$4.0M$6.8M$7.3M$3.3M$1.9M$3.5M$3.8M$2.9M$1.2M
Total current assets $203.1M$205.4M$242.8M$169.9M$147.0M$141.2M$145.7M$131.9M$153.9M$83.3M
Property, plant and equipment $282.0M$331.0M$339.6M$281.5M$172.7M$117.5M$82.1M$48.1M$24.6M$13.5M
Goodwill $130.4M$130.4M$130.4M$130.4M$130.4M$116.3M$109.8M$90.1M$90.1M$21.0M
Other intangibles $19.7M$24.8M$29.5M$39.8M$50.4M$47.4M$57.7M$49.4M$58.4M$20.0M
Total assets $730.9M$758.8M$798.4M$664.7M$539.6M$451.9M$425.9M$339.6M$350.6M$154.4M
Accounts payable $9.9M$9.0M$12.7M$17.2M$10.0M$6.3M$6.7M$8.4M$7.0M$4.8M
Total current liabilities $330.4M$199.9M$201.3M$188.2M$173.7M$163.0M$156.9M$165.3M$178.6M$84.4M
Long-term debt $190.4M$195.4M$211.9M$239.7M$191.4M$122.4M$114.4M$65.2M$77.8M$10.7M
Retained earnings -$226.0M-$150.2M-$40.3M$55.9M$83.5M$80.1M$76.2M$60.8M$42.7M$20.4M
Total equity -$164.2M-$95.3M$9.9M$96.7M$115.1M$104.7M$94.2M$79.8M$60.2M$37.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$5.8M-$19.7M-$4.8M$19.9M$29.6M$36.1M$40.4M$37.2M$31.9M$22.5M
Depreciation and amortisation $41.6M$40.3M$36.4M$28.2M$18.0M$12.6M$9.0M$5.7M$3.7M$1.8M
Stock-based compensation $7.1M$7.0M$8.1M$7.6M$4.6M$3.7M$2.9M$2.6M$1.5M$799.0K
Capital expenditure $17.1M$56.5M$92.1M$136.7M$73.2M$44.4M$44.1M$27.9M$12.9M$7.9M
Investing cash flow $2.2M-$56.5M-$92.6M-$137.5M-$102.0M-$53.3M-$76.1M-$29.7M-$94.1M-$14.4M
Financing cash flow -$5.4M$44.5M$178.8M$132.0M$73.1M$5.1M$43.5M-$12.9M$65.2M-$680.0K
Buybacks ———$0$0$3.3M$5.0M$0—$7.2M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-013073.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M Revenue, FY2016: 189.8M Gross profit, FY2016: 63.1M Net income, FY2016: 16.1M Revenue, FY2017: 329.4M Gross profit, FY2017: 84.5M Net income, FY2017: 22.3M Revenue, FY2018: 346M Gross profit, FY2018: 96.8M Net income, FY2018: 17.1M Revenue, FY2019: 337.1M Gross profit, FY2019: 100.8M Net income, FY2019: 15.4M Revenue, FY2020: 311.2M Gross profit, FY2020: 85.5M Net income, FY2020: 5.8M Revenue, FY2021: 304.3M Gross profit, FY2021: 78.3M Net income, FY2021: 3.4M Revenue, FY2022: 321.1M Gross profit, FY2022: 78.2M Net income, FY2022: -27.6M Revenue, FY2023: 339.3M Gross profit, FY2023: 66.7M Net income, FY2023: -96.2M Revenue, FY2024: 362.3M Gross profit, FY2024: 83M Net income, FY2024: -109.9M Revenue, FY2025: 390.3M Gross profit, FY2025: 94M Net income, FY2025: -75.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $189.8M $329.4M $346.0M $337.1M $311.2M $304.3M $321.1M $339.3M $362.3M $390.3M
Gross profit $63.1M $84.5M $96.8M $100.8M $85.5M $78.3M $78.2M $66.7M $83.0M $94.0M
Net income $16.1M $22.3M $17.1M $15.4M $5.8M $3.4M -$27.6M -$96.2M -$109.9M -$75.8M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Debt acceleration or default Something has triggered a lender's right to demand early repayment - usually a covenant breach. Item 2.04
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote Item 5.07
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Director nominations Dates and mechanics for shareholders proposing directors. Item 5.08
  • Annual report filed Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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