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Tucows Inc.

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Key Metrics

Previous Close: $10.23
52-Week Range: $8.46 – $25.17
Market Cap: $110.48M
P/E (TTM): —
EPS (TTM): -7.24
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: —
Return on Assets: -1.71%
Gross Margin: 35.54%
Operating Margin: -5.14%
Profit Margin: -21.20%
Current Ratio: 0.57
Debt/Equity: —
Total Debt: $712.24M
Free Cash Flow: $-10.31M
Revenue Growth: 2.10%
Earnings Growth: —
Enterprise Value: $778.55M

TCX Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$321.14M	$339.34M	$362.27M	$390.30M
Cost of Revenue	$242.89M	$272.67M	$279.25M	$296.35M
Gross Profit	$78.25M	$66.67M	$83.03M	$93.95M
Research & Development	$14.19M	$19.22M	$18.63M	$17.81M
Selling, General & Admin	$84.78M	$101.21M	$96.45M	$91.26M
Operating Expenses	$109.45M	$130.32M	$119.36M	$112.59M
Operating Income	-$31.20M	-$63.65M	-$36.33M	-$18.64M
EBITDA	$26.38M	-$9.55M	-$1.82M	$36.12M
Pretax Income	-$27.79M	-$103.07M	-$101.87M	-$67.31M
Income Tax	-$217.00K	-$6.87M	$7.99M	$8.51M
Net Income	-$27.57M	-$96.20M	-$109.86M	-$75.82M
Diluted EPS	-2.56	-8.85	-10.02	-6.85
Diluted Shares	10.77M	10.86M	10.97M	11.07M

TCX Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$23.50M	$92.69M	$56.90M	$46.76M
Receivables	$26.03M	$24.33M	$21.09M	$24.61M
Inventory	$7.28M	$6.79M	$3.98M	$3.87M
Current Assets	$169.92M	$242.76M	$205.38M	$203.09M
Total Assets	$664.75M	$798.43M	$758.80M	$730.91M
Current Liabilities	$188.19M	$201.34M	$199.85M	$330.43M
Long-Term Debt	$238.93M	$433.25M	$482.07M	$481.18M
Total Debt	$256.01M	$456.90M	$513.12M	$544.77M
Total Liabilities	$568.09M	$788.55M	$854.10M	$895.11M
Retained Earnings	$55.90M	-$40.30M	-$150.16M	-$225.98M
Shareholders' Equity	$96.66M	$9.88M	-$95.30M	-$164.20M
Working Capital	-$18.27M	$41.42M	$5.53M	-$127.33M
Net Debt	$215.43M	$340.56M	$425.17M	$434.42M

TCX Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$19.88M	-$4.77M	-$19.75M	-$5.76M
Capital Expenditure	-$137.49M	-$92.58M	-$57.03M	-$17.32M
Free Cash Flow	-$117.62M	-$97.35M	-$76.78M	-$23.08M
Depreciation & Amortisation	$39.58M	$47.26M	$45.62M	$46.25M
Stock-Based Compensation	$7.60M	$8.13M	$7.02M	$7.14M
Investing Cash Flow	-$137.49M	-$92.58M	-$56.49M	$2.16M
Financing Cash Flow	$132.01M	$178.84M	$44.50M	-$5.39M
Share Repurchases	$0.00	-$45.72M	$0.00	$0.00
Net Change in Cash	$14.39M	$81.48M	-$31.74M	-$8.99M

TCX Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$94.61M	$98.46M	$98.56M	$98.67M	$96.66M
Cost of Revenue	$71.08M	$76.35M	$74.38M	$74.54M	$72.53M
Gross Profit	$23.53M	$22.11M	$24.18M	$24.13M	$24.13M
Research & Development	$4.41M	$4.34M	$4.68M	$4.38M	$4.43M
Selling, General & Admin	$20.23M	$21.61M	$21.53M	$27.89M	$21.93M
Operating Expenses	$25.56M	$26.78M	$27.00M	$33.26M	$27.56M
Operating Income	-$2.03M	-$4.67M	-$2.82M	-$9.12M	-$3.43M
EBITDA	$12.83M	$12.36M	$5.34M	$5.59M	$9.43M
Pretax Income	-$12.97M	-$13.37M	-$20.56M	-$20.41M	-$15.71M
Income Tax	$2.17M	$2.27M	$2.46M	$1.62M	$2.39M
Net Income	-$15.13M	-$15.64M	-$23.02M	-$22.03M	-$18.11M
Diluted EPS	-1.37	-1.41	-2.08	—	-1.63
Diluted Shares	11.03M	11.06M	11.08M	—	11.12M

TCX Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$38.08M	$52.02M	$54.08M	$46.76M	$44.31M
Receivables	$24.14M	$24.44M	$28.04M	$24.61M	$27.79M
Inventory	$3.90M	$3.44M	$4.02M	$3.87M	—
Current Assets	$194.50M	$211.71M	$208.94M	$203.09M	$200.04M
Total Assets	$741.91M	$742.18M	$735.49M	$730.91M	$729.24M
Current Liabilities	$192.97M	$200.62M	$194.55M	$330.43M	$337.10M
Long-Term Debt	$480.72M	$481.84M	$480.06M	$481.18M	$482.28M
Total Debt	$515.44M	$521.68M	$534.22M	$544.77M	$553.51M
Total Liabilities	$850.17M	$863.87M	$879.55M	$895.11M	$910.57M
Retained Earnings	-$165.29M	-$180.93M	-$203.95M	-$225.98M	-$244.08M
Shareholders' Equity	-$108.26M	-$121.69M	-$144.06M	-$164.20M	-$181.33M
Working Capital	$1.52M	$11.08M	$14.39M	-$127.33M	-$137.06M
Net Debt	$442.64M	$429.82M	$425.98M	$434.42M	$437.98M

TCX Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$11.25M	$6.57M	$1.53M	-$2.61M	$3.52M
Capital Expenditure	-$5.44M	-$3.68M	-$3.85M	-$4.36M	-$6.41M
Free Cash Flow	-$16.69M	$2.88M	-$2.32M	-$6.96M	-$2.88M
Depreciation & Amortisation	$11.67M	$11.65M	$11.48M	$11.45M	$10.97M
Stock-Based Compensation	$1.50M	$1.39M	$1.39M	$2.86M	$1.09M
Investing Cash Flow	-$4.47M	$6.99M	$3.54M	-$3.90M	-$5.83M
Financing Cash Flow	-$2.50M	$31.00K	-$2.92M	$0.00	$0.00
Net Change in Cash	-$18.22M	$13.59M	$2.15M	-$6.51M	-$2.31M

Market Snapshot

About

Tucows Inc. is an internet services and telecommunications company providing network access, domain name services, and other internet services. The company operates through three segments: Fiber Internet Services (Ting Fiber), Mobile Services (Ting Mobile), and Domain Services (wholesale and retail domain registration). Tucows serves consumers and businesses across North America.