Latest news with #TucowsDomains
Cision Canada
07-08-2025
- Business
- Cision Canada
Momentum Continues in Q2 as Tucows Reports Growth in Revenue and Profitability
TORONTO, Aug. 7, 2025 /CNW/ - Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global internet services leader, today reported its unaudited financial results for the second quarter ended June 30, 2025. All figures are in U.S. dollars. "Q2 showed good progress in all three businesses," said Elliot Noss, President & CEO of Tucows. "Revenue grew 10% on the back of across-the-board topline gains, with Wavelo and Tucows Domains coming in ahead of plan. Gross profit rose 6%, and net of a one-off fiber-lease expense at Ting—each business continued the robust year-over-year margin expansion we saw in Q1. Most importantly, our ongoing work to improve capital and operational efficiency, including Ting's pivot to a capital-light model, helped drive a 37% jump in Adjusted EBITDA, highlighting our improved economics. This put our mid-year Adjusted EBITDA slightly ahead of progress towards our 2025 guidance." Financial Results Consolidated net revenue for the second quarter of 2025 increased 10.1% to $98.5 million from $89.4 million for the second quarter of 2024, driven by strong year-over-year revenue gains from all three Tucows businesses. Gross profit for the second quarter of 2025 increased 6.2% to $22.1 million from $20.8 million from the second quarter of 2024. The increase in gross profit was driven by strong year-over-year margin gains from Wavelo and Tucows Domains, but was offset by a decrease in gross margin from Ting, due to a one-time, non-cash lease adjustment resulting from a revision to lease payment recognition periods for certain contracts. Net loss for the second quarter of 2025 decreased to $15.6 million, or a loss of $1.41 per share, compared to a net loss of $18.6 million, or a loss of $1.70 per share, for the second quarter of 2024, reflecting improved operational efficiency and revenue momentum. Adjusted net income 1 (loss) and Adjusted EPS 1 in Q2 2025 are ($16.3 million) and ($1.47) per share compared to Q2 2024 Adjusted net income 1 (loss) of ($17.8 million) and Adjusted EPS 1 of ($1.63) per share. Adjusted EBITDA 1 for the second quarter of 2025 grew 37% to $12.6 million from $9.2 million for the second quarter of 2024. The year-over-year improvement was fueled by revenue growth across all three segments: margin expansion from Wavelo and Tucows Domains, Ting's shift to a capital-light model, and rigorous cost discipline and AI-driven efficiencies across the Company. We ended the second quarter of 2025 with cash and cash equivalents, and restricted cash and restricted cash equivalents of $68.6 million. This compares with $55.0 million at the end of the first quarter of 2025 and $52.2 million at the end of the second quarter of 2024. 1 Non-GAAP financial measures are described below and reconciled to GAAP measures in the accompanying tables. 2 Gross profit and Net Income (Loss) for Q2 2025 includes a one-time, immaterial, non-cash increase in lease expense of $2.7 million related to a lease accounting adjustment for certain long-term network access agreements. Summary of Revenues, Gross Profit and Adjusted EBITDA (In Thousands of US Dollars) Revenue Gross Profit Adj. EBITDA¹ 3 Months ended June 30 3 Months ended June 30 3 Months ended June 30 2025 (unaudited) 2024 (unaudited) 2025 (unaudited) 2024 (unaudited) 2025 (unaudited) 2024 (unaudited) Ting Internet Services: Fiber Internet Services 16,410 14,571 7,704 2 9,818 (3,651) 2 (6,442) Wavelo Platform Services: Platform Services 12,656 10,495 12,561 10,163 Other Professional Services 0 6 0 (1) Total Wavelo Platform Services 12,656 10,501 12,561 10,162 5,360 3,911 Tucows Domain Services: Wholesale Domain Services 51,557 48,504 10,365 9,583 Value Added Services 5,757 4,524 5,300 4,004 Total Wholesale 57,314 53,028 15,665 13,587 Retail 10,290 9,340 5,895 5,282 Total Tucows Domain Services 67,604 62,368 21,560 18,869 12,543 11,217 Corporate: Mobile Services and Eliminations 1,793 1,983 (2,431) (754) (1,675) 492 Network Expenses: Network, other costs n/a n/a (6,023) (6,862) n/a n/a Network, depreciation of property and equipment n/a n/a (10,460) (10,057) n/a n/a Network, amortization of intangible assets n/a n/a (366) (366) n/a n/a Network, impairment n/a n/a (435) 0 n/a n/a Total Network Expenses n/a n/a (17,284) (17,285) n/a n/a Total 98,463 89,423 22,110 2 20,810 12,577 2 9,178 1 Non-GAAP financial measures are described below and reconciled to GAAP measures in the accompanying tables. 2 Ting's gross margin for Q2 2025 includes a one-time, immaterial, non-cash increase in lease expense of $2.7 million related to a lease accounting adjustment for certain long-term network access agreements. 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. ** Net Income (Loss) for Q2 2025 includes a one-time, immaterial, non-cash increase in lease expense of $2.7 million related to a lease accounting adjustment for certain long-term network access agreements. 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): * 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. ** Net Income (Loss) for Q2 2025 includes a one-time, immaterial, non-cash increase in lease expense of $2.7 million related to a lease accounting adjustment for certain long-term network access agreements. Management Commentary Concurrent with the dissemination of its quarterly financial results news release at 5:05 p.m. ET on Thursday, August 7, 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, August 14, 2025, shareholders, analysts and prospective investors can submit questions to Tucows' management at [email protected]. Management will post responses to questions in an audio recording and transcript to the Company's website at on Tuesday, August 26, 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.
Cision Canada
06-08-2025
- Business
- Cision Canada
Radix selects Tucows Registry as Back-End Registry Services Provider
TORONTO, Aug. 6, 2025 /CNW/ - Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global provider of internet services, and Radix, one of the world's largest portfolio registries, announced today that Tucows Registry, part of the company's Tucows Domains operating segment, has been awarded the contract to provide back-end registry services to Radix. This partnership will see Tucows assume technical registry operations for Radix's portfolio of 11 top-level domains (TLDs), including 10 new generic top-level domains (gTLDs) and one country-code TLD (ccTLD), as well as one second-level domain TLD (SLD). Radix's portfolio includes some of the most recognized and high-performing domain extensions in the global market, such as .online, .store, .tech, .site, and .fun. "Being selected by Radix—an industry leader known for innovation and brand strength—is a powerful endorsement of our capabilities," said David Woroch, CEO of Tucows Domains. "This marks another major milestone for Tucows Registry, positioning us as the preferred platform for top-tier registry operators—and sets us up strongly for the next wave of new TLDs expected in 2026." The migration of the Radix domains is expected in November 2025 and will add approximately 10 million domains under management (DUMs) to the Tucows Registry platform, for a total of almost 17 million domains globally. This includes growth since the 2021 acquisition of UNR; the incoming domains from Radix; and the recently migrated domains from the National Internet Exchange of India (NIXI). This agreement further expands Tucows' position as a leading infrastructure provider in the domain industry—now providing back-end services for two of the largest registry operators globally. It creates meaningful operating leverage, and establishes a clear growth vector within the broader Tucows Domains business. Radix operates with a unique model—choosing highly versatile, keyword-rich strings that perform across industries and languages. With over 3.5 million active names under .online alone, Radix has earned a reputation for innovative, data-driven go-to-market strategies that drive global reach and strong renewal rates. Speaking about this partnership, Sandeep Ramchandani, CEO of Radix, said, "Radix is at the crux of a pivotal shift toward a new phase of growth, building on a decade of industry leadership. As we scale further, we looked for an ally with strong domain technology, infrastructure, and a commitment to the registry business. Since our inception, Tucows has been a trusted strategic partner to Radix on the channel front, and we are delighted to expand and deepen that relationship." The partnership combines Tucows' scale in registry infrastructure with Radix's proven go-to-market excellence and category-leading TLD performance. As ICANN prepares to open the next round of new gTLDs in 2026, both companies are strategically positioned to capture value from the next wave of expansion in the domain name ecosystem. 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 ( About Tucows Registry Tucows Registry provides modern, scalable registry infrastructure for a select set of global top-level domains. As a segment of Tucows Domains, it benefits from 20+ years of internet infrastructure experience and one of the largest domain registrar-reseller networks in the world. Learn more at About Radix Radix is the world's largest portfolio registry, with over 10 million domains under management (DUMs). Radix owns and operates 10 TLDs, including .site, .online, .tech, .website, .press, .host, .space, .store, .fun, and .uno. Through these domain extensions, Radix empowers business owners to get short, memorable, and descriptive domain names that can be used for websites, email addresses, and other internet addressing purposes. For more details, visit 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
