Latest news with #ElliotNoss
Malaysian Reserve
22-05-2025
- Business
- Malaysian Reserve
Diverse, High-Impact Board Elected to Guide Next Phase of Growth for Tucows
TORONTO, May 21, 2025 /PRNewswire/ – Tucows Inc. (NASDAQ: TCX), (TSX: TC) announced that eight director nominees were elected to its Board of Directors at the company's Annual General Meeting held yesterday. The newly constituted Board brings a broad range of expertise across finance, technology, data analytics, and entrepreneurship—providing strategic leadership to help guide Tucows' next chapter of growth and innovation. 'We're pleased to welcome new and returning directors to the Tucows Board,' said Elliot Noss, President and CEO of Tucows. 'Each of them brings valuable experience and insight, along with a clear alignment to our values. This refresh reflects a thoughtful evolution of our Board, and we are deeply grateful to our outgoing directors for their years of service. We're confident this transition positions us well for the road ahead.' The newly-elected Board members include: Marlene Carl, the CFO of CHAPTERS Group AG, a German publicly traded investment company focused on scalable, long-term business models. Ms. Carl brings extensive experience in investment management and infrastructure financing—particularly in digital infrastructure and fiber network projects. Lee Matheson, Partner at EdgePoint Investment Group Inc., and previously the co-founder of Broadview Capital Management. Mr. Matheson has significant public company board experience across technology and financial services, and has an extensive background in investment management, financing, and SaaS businesses. Elliot Noss, the President and Chief Executive Officer of Tucows since 2001. Mr. Noss brings deep experience in internet infrastructure, software, and operational leadership, having overseen the launch and growth of Tucows' businesses including Domains, Ting, and Wavelo. Dr. Sandra Matz, David W. Zalaznick Associate Professor of Business at Columbia Business School and Director of the Center for Advanced Technology and Human Performance. A recognized leader in data-driven behavioral science, Dr. Matz focuses on how psychological traits influence consumer behavior and business outcomes. Laurenz Malte Nienaber, Founder and Managing Director of LMN Capital GmbH, brings deep experience in investment strategy, technology, and governance. Based in Munich, Mr. Nienaber is known for his analytical rigor and hands-on approach to board leadership. Allen Taylor, President of GTD Partners and former CFO of Trisura Group, has an extensive background in private equity operations, financial restructuring, and strategic investments. His previous leadership roles at Brookfield Asset Management and advisory roles bring wide-ranging financial and operational expertise. Jeffrey Tory, Chair and Portfolio Manager at Pembroke Management Ltd., has nearly four decades of experience investing in North American growth equities. A CFA charterholder and adjunct professor at McGill University, Mr. Tory brings expertise in financial analysis, capital markets, and corporate governance—critical to supporting long-term value creation. Stephan Uhrenbacher, a serial entrepreneur and investor, brings deep expertise in technology, sustainability, and startup acceleration. As Founder of Density Ventures and Sustainable Aero Lab, he has played a key role in mentoring innovative global ventures. He also previously held senior leadership roles at Qype, and DocMorris. These appointments underscore Tucows' commitment to assembling a Board with diverse global perspectives and deeply relevant expertise to help steward the company's long-term strategy, operational execution, and innovation across its business portfolio. Voting results were as follows: 1. Election of Directors Director Nominee Votes For % For Votes Withheld % Withheld Marlene Carl 6,253,024 89.67 720,089 10.33 Lee Matheson 6,537,189 93.75 435,924 6.25 Sandra Matz 6,568,650 94.20 404,463 5.80 Laurenz Malte Nienaber 6,586,317 94.45 386,796 5.55 Elliot Noss 6,009,694 86.18 963,419 13.82 Allen Taylor 6,587,059 94.46 386,054 5.54 Jeffrey Tory 6,587,059 94.46 386,054 5.54 Stephan Uhrenbacher 6,587,203 94.47 385,910 5.53 2. Ratification of Appointment of Deloitte LLP as the independent auditors for Tucows for the year ending December 31, 2025: Votes For % For Votes Against % Against Abstentions % Abstentions 7,515,484 99.79 7,419 0.10 8,470 0.11 Final results on all matters voted on at the annual meeting of shareholders held on May 20, 2025 will be filed with the Canadian securities regulators and the Securities and Exchange Commission. About Tucows Tucows helps connect more people to the benefit of internet access through communications service technology, domain services, and fiber-optic internet infrastructure. Ting ( delivers fixed fiber Internet access with outstanding customer support. Wavelo ( is a telecommunications software suite for service providers that simplifies the management of mobile and internet network access; provisioning, billing and subscription; developer tools; and more. Tucows Domains ( manages approximately 24 million domain names and millions of value-added services through a global reseller network of over 35,000 web hosts and ISPs. Hover ( makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows' corporate website ( Tucows, Ting, Wavelo, and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
Yahoo
21-05-2025
- Business
- Yahoo
Diverse, High-Impact Board Elected to Guide Next Phase of Growth for Tucows
TORONTO, May 21, 2025 /PRNewswire/ - Tucows Inc. (NASDAQ: TCX), (TSX: TC) announced that eight director nominees were elected to its Board of Directors at the company's Annual General Meeting held yesterday. The newly constituted Board brings a broad range of expertise across finance, technology, data analytics, and entrepreneurship—providing strategic leadership to help guide Tucows' next chapter of growth and innovation. "We're pleased to welcome new and returning directors to the Tucows Board," said Elliot Noss, President and CEO of Tucows. "Each of them brings valuable experience and insight, along with a clear alignment to our values. This refresh reflects a thoughtful evolution of our Board, and we are deeply grateful to our outgoing directors for their years of service. We're confident this transition positions us well for the road ahead." The newly-elected Board members include: Marlene Carl, the CFO of CHAPTERS Group AG, a German publicly traded investment company focused on scalable, long-term business models. Ms. Carl brings extensive experience in investment management and infrastructure financing—particularly in digital infrastructure and fiber network projects. Lee Matheson, Partner at EdgePoint Investment Group Inc., and previously the co-founder of Broadview Capital Management. Mr. Matheson has significant public company board experience across technology and financial services, and has an extensive background in investment management, financing, and SaaS businesses. Elliot Noss, the President and Chief Executive Officer of Tucows since 2001. Mr. Noss brings deep experience in internet infrastructure, software, and operational leadership, having overseen the launch and growth of Tucows' businesses including Domains, Ting, and Wavelo. Dr. Sandra Matz, David W. Zalaznick Associate Professor of Business at Columbia Business School and Director of the Center for Advanced Technology and Human Performance. A recognized leader in data-driven behavioral science, Dr. Matz focuses on how psychological traits influence consumer behavior and business outcomes. Laurenz Malte Nienaber, Founder and Managing Director of LMN Capital GmbH, brings deep experience in investment strategy, technology, and governance. Based in Munich, Mr. Nienaber is known for his analytical rigor and hands-on approach to board leadership. Allen Taylor, President of GTD Partners and former CFO of Trisura Group, has an extensive background in private equity operations, financial restructuring, and strategic investments. His previous leadership roles at Brookfield Asset Management and advisory roles bring wide-ranging financial and operational expertise. Jeffrey Tory, Chair and Portfolio Manager at Pembroke Management Ltd., has nearly four decades of experience investing in North American growth equities. A CFA charterholder and adjunct professor at McGill University, Mr. Tory brings expertise in financial analysis, capital markets, and corporate governance—critical to supporting long-term value creation. Stephan Uhrenbacher, a serial entrepreneur and investor, brings deep expertise in technology, sustainability, and startup acceleration. As Founder of Density Ventures and Sustainable Aero Lab, he has played a key role in mentoring innovative global ventures. He also previously held senior leadership roles at Qype, and DocMorris. These appointments underscore Tucows' commitment to assembling a Board with diverse global perspectives and deeply relevant expertise to help steward the company's long-term strategy, operational execution, and innovation across its business portfolio. Voting results were as follows: 1. Election of Directors Director Nominee Votes For % For Votes Withheld % Withheld Marlene Carl 6,253,024 89.67 720,089 10.33 Lee Matheson 6,537,189 93.75 435,924 6.25 Sandra Matz 6,568,650 94.20 404,463 5.80 Laurenz Malte Nienaber 6,586,317 94.45 386,796 5.55 Elliot Noss 6,009,694 86.18 963,419 13.82 Allen Taylor 6,587,059 94.46 386,054 5.54 Jeffrey Tory 6,587,059 94.46 386,054 5.54 Stephan Uhrenbacher 6,587,203 94.47 385,910 5.53 2. Ratification of Appointment of Deloitte LLP as the independent auditors for Tucows for the year ending December 31, 2025: Votes For % For Votes Against % Against Abstentions % Abstentions 7,515,484 99.79 7,419 0.10 8,470 0.11 Final results on all matters voted on at the annual meeting of shareholders held on May 20, 2025 will be filed with the Canadian securities regulators and the Securities and Exchange Commission. About Tucows Tucows helps connect more people to the benefit of internet access through communications service technology, domain services, and fiber-optic internet infrastructure. Ting ( delivers fixed fiber Internet access with outstanding customer support. Wavelo ( is a telecommunications software suite for service providers that simplifies the management of mobile and internet network access; provisioning, billing and subscription; developer tools; and more. Tucows Domains ( manages approximately 24 million domain names and millions of value-added services through a global reseller network of over 35,000 web hosts and ISPs. Hover ( makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows' corporate website ( Tucows, Ting, Wavelo, and Hover are registered trademarks of Tucows Inc. or its subsidiaries. View original content to download multimedia: SOURCE Tucows Inc. 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Cision Canada
21-05-2025
- Business
- Cision Canada
Diverse, High-Impact Board Elected to Guide Next Phase of Growth for Tucows
TORONTO, May 21, 2025 /CNW/ - Tucows Inc. (NASDAQ: TCX), (TSX: TC) announced that eight director nominees were elected to its Board of Directors at the company's Annual General Meeting held yesterday. The newly constituted Board brings a broad range of expertise across finance, technology, data analytics, and entrepreneurship—providing strategic leadership to help guide Tucows' next chapter of growth and innovation. " We're pleased to welcome new and returning directors to the Tucows Board," said Elliot Noss, President and CEO of Tucows. "Each of them brings valuable experience and insight, along with a clear alignment to our values. This refresh reflects a thoughtful evolution of our Board, and we are deeply grateful to our outgoing directors for their years of service. We're confident this transition positions us well for the road ahead." The newly-elected Board members include: Marlene Carl, the CFO of CHAPTERS Group AG, a German publicly traded investment company focused on scalable, long-term business models. Ms. Carl brings extensive experience in investment management and infrastructure financing—particularly in digital infrastructure and fiber network projects. Lee Matheson, Partner at EdgePoint Investment Group Inc., and previously the co-founder of Broadview Capital Management. Mr. Matheson has significant public company board experience across technology and financial services, and has an extensive background in investment management, financing, and SaaS businesses. Elliot Noss, the President and Chief Executive Officer of Tucows since 2001. Mr. Noss brings deep experience in internet infrastructure, software, and operational leadership, having overseen the launch and growth of Tucows' businesses including Domains, Ting, and Wavelo. Dr. Sandra Matz, David W. Zalaznick Associate Professor of Business at Columbia Business School and Director of the Center for Advanced Technology and Human Performance. A recognized leader in data-driven behavioral science, Dr. Matz focuses on how psychological traits influence consumer behavior and business outcomes. Laurenz Malte Nienaber, Founder and Managing Director of LMN Capital GmbH, brings deep experience in investment strategy, technology, and governance. Based in Munich, Mr. Nienaber is known for his analytical rigor and hands-on approach to board leadership. Allen Taylor, President of GTD Partners and former CFO of Trisura Group, has an extensive background in private equity operations, financial restructuring, and strategic investments. His previous leadership roles at Brookfield Asset Management and advisory roles bring wide-ranging financial and operational expertise. Jeffrey Tory, Chair and Portfolio Manager at Pembroke Management Ltd., has nearly four decades of experience investing in North American growth equities. A CFA charterholder and adjunct professor at McGill University, Mr. Tory brings expertise in financial analysis, capital markets, and corporate governance—critical to supporting long-term value creation. Stephan Uhrenbacher, a serial entrepreneur and investor, brings deep expertise in technology, sustainability, and startup acceleration. As Founder of Density Ventures and Sustainable Aero Lab, he has played a key role in mentoring innovative global ventures. He also previously held senior leadership roles at Qype, and DocMorris. These appointments underscore Tucows' commitment to assembling a Board with diverse global perspectives and deeply relevant expertise to help steward the company's long-term strategy, operational execution, and innovation across its business portfolio. Voting results were as follows: 1. Election of Directors 2. Ratification of Appointment of Deloitte LLP as the independent auditors for Tucows for the year ending December 31, 2025: Final results on all matters voted on at the annual meeting of shareholders held on May 20, 2025 will be filed with the Canadian securities regulators and the Securities and Exchange Commission. About Tucows Tucows helps connect more people to the benefit of internet access through communications service technology, domain services, and fiber-optic internet infrastructure. Ting ( delivers fixed fiber Internet access with outstanding customer support. Wavelo ( is a telecommunications software suite for service providers that simplifies the management of mobile and internet network access; provisioning, billing and subscription; developer tools; and more. Tucows Domains ( manages approximately 24 million domain names and millions of value-added services through a global reseller network of over 35,000 web hosts and ISPs. Hover ( makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows' corporate website ( Tucows, Ting, Wavelo, and Hover are registered trademarks of Tucows Inc. or its subsidiaries. SOURCE Tucows Inc.
Yahoo
14-05-2025
- Business
- Yahoo
Tucows Reports Strong Y/Y Earnings & Revenue Increases in Q1
Shares of Tucows Inc. TCX have gained 0.3% since reporting results for the first quarter of 2025. This compares to the S&P 500 index's 3.1% growth over the same time frame. Over the past month, the stock has gained 8.9% compared with the S&P 500's 8.1% rally. Tucows reported first-quarter 2025 revenues of $94.6 million, up 8.2% from $87.5 million in the same period a year ago. Gross profit jumped 28.5% year over year to $23.5 million from $18.3 million. The net loss narrowed significantly to $15.1 million (or $1.37 per share) from a loss of $26.5 million (or $2.42 per share) in the first quarter of 2024. The adjusted net loss came in at $14.9 million, or $1.35 per share, improving from an adjusted net loss of $23.4 million, or $2.14 per share, a year ago. Adjusted EBITDA jumped 225% to $13.7 million compared with $4.2 million in the prior-year quarter. Tucows Inc. price-consensus-eps-surprise-chart | Tucows Inc. Quote All three operating segments — Ting, Wavelo and Tucows Domains — delivered solid performances. Ting Internet revenues rose 16% year over year to $16.3 million, driven by a 12% increase in subscribers and growth in average revenue per user (ARPU). Gross profit for Ting reached $10.5 million, up from $8.7 million a year ago, while the adjusted EBITDA loss significantly narrowed to $0.9 million from a loss of $9.5 million, aided by the capital efficiency initiatives introduced in 2024. Wavelo, Tucows' platform services business, recorded revenues of $11.4 million, up 21% year over year. Gross profit increased 25% to $11.3 million, and adjusted EBITDA grew 60% to $4.4 million. Growth was attributed to an expanding subscriber base and improved contractual terms, including a rate card introduced as part of the renewed agreement with Echostar. Tucows Domains generated revenues of $65.3 million, a 6% increase from the first quarter of 2024. Gross profit improved 9% to $20.2 million, and adjusted EBITDA rose 15% to $11.5 million. While total transactions declined 6% due to a large customer transition, the underlying business showed strength with a renewal rate of 76.5% and improved margins from higher-value services, such as expiry stream monetization. CEO Elliot Noss emphasized that the company delivered these results in the context of four consecutive years of revenue growth. He highlighted the firm's ongoing cost optimization and deleveraging efforts, including a $2.5-million payment toward syndicated debt in the quarter. Noss noted that macroeconomic conditions, particularly the rise of AI, will increasingly shape business decisions and stressed the importance of thoughtful execution. Dave Woroch, CEO of Tucows Domains, noted the resilience of the domain business, despite some churn, and pointed to growth opportunities ahead, including progress in the company's registry platform partnership with India's .in operator, NIXI and the expected expansion in generic top-level domains slated for 2026. Wavelo CEO Justin Reilly described the first quarter as the business unit's best quarter to date. He attributed gains to improved customer alignment and strong execution by sales and engineering teams. Reilly also spoke extensively about the growing role of AI, highlighting its productivity benefits across operations, sales and engineering. He framed AI as a disruptive but empowering force for Wavelo's future competitiveness. Revenue and profit growth were primarily driven by increased subscriber counts and higher ARPU in the Ting segment, stronger contributions from high-margin services in Domains, and an uptick in Wavelo's contracted platform deals. Operating efficiencies from the 2024 Ting restructuring initiative also contributed materially to EBITDA expansion across the board. Cost discipline was evident across functional areas — sales and marketing expenses fell 41% year over year, and general and administrative expenses decreased 6%, helping offset higher network depreciation and financing expenses. Despite positive trends, net cash from operating activities was negative $11.3 million, nearly double the outflow of the prior-year quarter, reflecting investment in growth and the timing of receivables and contract liabilities. Management commentary suggested expectations for adjusted EBITDA growth to moderate to single-digit levels in subsequent quarters. The company's focus remains on expanding margins, driving revenues, and maintaining strict cost controls. In the first quarter, the company confirmed the wind-down of the Ting Build Scorecard following a shift away from market construction, signaling a strategic pivot toward operational efficiency and existing network optimization. Additionally, the company highlighted ongoing progress with NIXI in India, signaling forward movement in expanding its registry footprint. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tucows Inc. (TCX) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
08-05-2025
- Business
- Globe and Mail
Tucows Delivers Strong Q1 with Gains in Revenue, Gross Profit and Adjusted EBITDA
, May 8, 2025 /CNW/ - Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global internet services leader, today reported its unaudited financial results for the first quarter ended March 31, 2025 . All figures are in U.S. dollars. "On the heels of four years of strong revenue growth, we are very pleased with our first quarter results," said Elliot Noss , President and CEO of Tucows. "All three of our businesses delivered year-over-year gains, with an 8% increase in consolidated revenue, a 29% increase in gross profit, and a more than threefold improvement in Adjusted EBITDA compared to Q1 last year. Importantly, we achieved a substantial year-over-year reduction in net loss through strong revenue growth and cost optimization initiatives. We also continued to deleverage the business with payments on our syndicated debt. The progress we are making across the organization positions us well for continued improvement in 2025 and beyond." Financial Results Consolidated net revenue for the first quarter of 2025 increased 8.2% to $94.6 million from $87.5 million for the first quarter of 2024, driven by strong year-over-year revenue gains from all three Tucows businesses. Gross profit for the first quarter of 2025 increased 28.5% to $23.5 million from $18.3 million from the first quarter of 2024. The increase in gross profit was driven by strong year-over-year gains from all three Tucows businesses. Net loss for the first quarter of 2025 narrowed significantly to $15.1 million , or a loss of $1.37 per share, compared to a net loss of $26.5 million , or a loss of $2.42 per share, for the first quarter of 2024, reflecting improved operational efficiency and revenue momentum. Adjusted net income 1 (loss) and Adjusted EPS 1 in Q1 2025 are ( $14.9 million ) and ($1.35) per share compared to Q1 2024 Adjusted net income 1 (loss) of ( $23.4 million ) and Adjusted EPS 1 of ($2.14) per share. Adjusted EBITDA 1 for the first quarter of 2025 climbed 225% to $13.7 million from $4.2 million for the first quarter of 2024, highlighting the strength of our operating leverage. The year-over-year increase was driven by growth of revenues from all three businesses, margin gains, and company-wide cost-reduction efforts, including the 2024 Ting capital efficiency plan. We ended the first quarter of 2025 with cash and cash equivalents, and restricted cash and restricted cash equivalents of $55.0 million , while continuing to reduce debt and invest in growth. This compares with $73.2 million at the end of the fourth quarter of 2024 and $79.4 million at the end of the first quarter of 2024. 3 Months ended March 31 2025 (unaudited) 2024 (unaudited) % Change (unaudited) Net Revenues 94,609 87,457 8 % Gross Profit 23,531 18,316 28 % Income Earned on Sale of Transferred Assets, net 2,741 3,621 (24) % Net Income (Loss) (15,133) (26,484) 43 % Adjusted Net Income (Loss)¹ (14,914) (23,380) 36 % Basic earnings (Loss) per common share (1.37) (2.42) 43 % Adjusted Basic earnings (Loss) per common share¹ (1.35) (2.14) 37 % Adjusted EBITDA¹ 13,671 4,202 225 % Net cash provided by (used in) operating activities (11,251) (5,678) (98) % 1 Non-GAAP financial measures are described below and reconciled to GAAP measures in the accompanying tables. (In Thousands of US Dollars) 3 Months ended March 31 3 Months ended March 31 3 Months ended March 31 2025 (unaudited) 2024 (unaudited) 2025 (unaudited) 2024 (unaudited) 2025 (unaudited) 2024 (unaudited) Ting Internet Services: Fiber Internet Services 16,315 14,102 10,478 8,742 (854) (9,537) Wavelo Platform Services: Platform Services 11,396 9,365 11,259 9,033 4,449 Other Professional Services 0 25 0 6 Total Wavelo Platform Services 11,396 9,390 11,259 9,039 2,787 Tucows Domain Services: Wholesale Domain Services 50,004 48,151 9,623 9,488 Value Added Services 5,903 4,703 5,423 4,156 Total Wholesale 55,907 52,854 15,046 13,644 Retail 9,348 9,028 5,169 4,892 Total Tucows Domain Services 65,255 61,882 20,215 18,536 11,540 10,011 Corporate: Mobile Services and Eliminations 1,643 2,083 (2,504) (654) (1,464) 941 Network Expenses: Network, other costs n/a n/a (4,971) (7,064) n/a n/a Network, depreciation of property and equipment n/a n/a (10,376) (9,865) n/a n/a Network, amortization of intangible assets n/a n/a (366) (365) n/a n/a Network, impairment n/a n/a (204) (53) n/a n/a Total Network Expenses n/a n/a (15,917) (17,347) n/a n/a Total 94,609 87,457 23,531 18,316 13,671 4,202 1 Non-GAAP financial measures are described below and reconciled to GAAP measures in the accompanying tables. Notes: 1. Tucows reports all financial information required in conformity with United States generally accepted accounting principles (GAAP). Along with this information, to assist financial statement users in an assessment of our historical performance, the Company discloses non-GAAP financial measures in press releases and on investor conference calls and related events, as the Company believes that the non-GAAP information enhances investors' overall understanding of our financial performance, and should be read in addition to, rather than instead of, the financial statements prepared in accordance with GAAP. Non-GAAP financial measures do not reflect a comprehensive system of accounting and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies and/or analysts and may differ from period to period. The Company endeavors to compensate for these limitations by providing the relevant disclosure of the items excluded in the calculation of Adjusted EBITDA to net income based on U.S. GAAP; Adjusted net income to GAAP net income; and adjusted basic earnings per share to GAAP basic earnings per share, which should be considered when evaluating the Company's results. Tucows strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure. Adjusted EBITDA The Company believes that the provision of this supplemental non-GAAP measure allows investors to evaluate the operational and financial performance of the Company's core business using similar evaluation measures to those used by management. The Company uses Adjusted EBITDA to measure its performance and prepare its budgets. Since Adjusted EBITDA is a non-GAAP financial performance measure, the Company's calculation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation, as a substitute for, or superior to measures of financial performance prepared in accordance with GAAP. Because Adjusted EBITDA is calculated before certain recurring cash charges, including interest expense and taxes, and is not adjusted for capital expenditures or other recurring cash requirements of the business, it should not be considered as a liquidity measure. The Company's Adjusted EBITDA definition excludes depreciation, impairment and loss on disposition of property and equipment, amortization of intangible assets, income tax provision, interest expense (net), stock-based compensation, asset impairment, gains and losses from unrealized foreign currency transactions, loss on debt extinguishment and costs that are not indicative of on-going performance (profitability), including acquisition and transition costs. Gains and losses from unrealized foreign currency transactions removes the unrealized effect of the change in the mark-to-market values on outstanding unhedged foreign currency contracts, as well as the unrealized effect from the translation of monetary accounts denominated in non-U.S. dollars to U.S. dollars. The following table reconciles net income (loss) to Adjusted EBITDA (in thousands of US dollars): * Acquisition and transition costs represent transaction-related expenses and transitional expenses. Expenses include severance or transitional costs associated with department, operational or overall company restructuring efforts, including geographic alignments. Adjusted Net Income and Adjusted Basic Earnings Per Common Share (Adjusted EPS) The Company believes that the provision of this supplemental non-GAAP measure allows investors to best evaluate our operating results and understand the operating trends of our core business without the effect of acquisition and transition costs, impairment expenses and losses on extinguishment of debt. Acquisition and transition costs represent transaction-related expenses and transitional expenses. Expenses include severance or transitional costs associated with department, operational or overall company restructuring efforts, including geographic alignments. Since adjusted net income and adjusted EPS are non-GAAP financial performance measures, the Company's calculation of adjusted net income and adjusted EPS may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation, as a substitute for, or superior to measures of financial performance prepared in accordance with GAAP. The Company's adjusted net income and adjusted EPS definitions exclude from the calculation of reported GAAP net income and GAAP EPS, the effect of the following items: impairment of property and expenses, acquisition and transition costs (including restructuring charges) and loss on debt extinguishment. The following table reconciles adjusted net income and adjusted EPS to GAAP net income (In thousands of US dollars, except Per Share data): 3 Months ended March 31 2025 (unaudited) 2024 (unaudited) Net Income (Loss) for the period (15,133) (26,484) Less: Acquisition and transition costs* 15 3,051 Impairment of property and equipment 204 53 Adjusted Net Income (Loss)¹ for the period (14,914) (23,380) Adjusted Basic Earnings (Loss) Per Common Share¹ (1.35) (2.14) * Acquisition and transition costs represent transaction-related expenses and transitional expenses. Expenses include severance or transitional costs associated with department, operational or overall company restructuring efforts, including geographic alignments. Management Commentary Concurrent with the dissemination of its quarterly financial results news release at 5:05 p.m. ET on Thursday , May 8, 2025, management's pre-recorded audio commentary (and transcript), discussing the quarter and outlook for the Company will be posted to the Tucows website at Following management's prepared commentary, for the subsequent seven days, until Thursday, May 15, 2025 , shareholders, analysts and prospective investors can submit questions to Tucows' management at ir@ Management will post responses to questions in an audio recording and transcript to the Company's website at on Tuesday, May 27, 2025 , at approximately 5 p.m. ET . All questions will receive a response, however, questions of a more specific nature may be responded to directly. About Tucows Tucows helps connect more people to the benefit of internet access through communications service technology, domain services, and fiber-optic internet infrastructure. Ting ( delivers fixed fiber Internet access with outstanding customer support. Wavelo ( is a telecommunications software suite for service providers that simplifies the management of mobile and internet network access; provisioning, billing and subscription; developer tools; and more. Tucows Domains ( manages approximately 24 million domain names and millions of value-added services through a global reseller network of over 35,000 web hosts and ISPs. Hover ( makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows' corporate website ( Tucows, Ting, Wavelo, and Hover are registered trademarks of Tucows Inc. or its subsidiaries. This release includes forward-looking statements as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our expectations regarding our future financial results and, including, without limitation, our expectations regarding our ability to realize synergies from the Enom acquisition and our expectation for growth of Ting Internet. These statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Information about other potential factors that could affect Tucows' business, results of operations and financial condition is included in the Risk Factors sections of Tucows' filings with the Securities and Exchange Commission. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. All forward-looking statements are based on information available to Tucows as of the date they are made. Tucows assumes no obligation to update any forward-looking statements, except as may be required by law.
