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Tucows Inc. (NASDAQ: TCX) is a global internet services company renowned for its diverse and comprehensive offerings. Its operations are divided into three primary segments: Ting, Wavelo, and Tucows Domains, each playing a crucial role in enhancing internet connectivity worldwide.
Ting (ting.com) delivers fixed fiber internet access across various U.S. cities, providing high-speed, reliable internet alongside unparalleled customer service. Recently, Ting announced the expansion of its 2-gigabit fiber internet to residents and businesses in Thornton, Colorado, a move set to boost regional economic vitality significantly.
Wavelo (wavelo.com) is a modern telecommunications software suite designed to streamline the operations of service providers. It offers solutions that simplify mobile and internet network access, provisioning, billing, and subscription management. Wavelo's recent partnerships with companies like CFaith, DayStarr, and Truespeed, along with its impressive financial performance, underscore its commitment to innovation and operational efficiency.
Tucows Domains (tucowsdomains.com) manages approximately 25 million domain names, making it one of the largest domain name registrars globally. The division also offers various value-added services through a robust reseller network of over 35,000 web hosts and ISPs. Hover, another Tucows brand (hover.com), provides an easy-to-use platform for individuals and small businesses to manage their domain names and email addresses.
Tucows Inc. is not just about services; it actively pursues growth and innovation. The company recently reported notable financial performance, with consolidated revenue for Q1 2024 growing by 8.7% year-over-year to $87.5 million. This growth was driven by substantial gains across all business segments. Despite a net loss due to strategic investments, the company's adjusted EBITDA saw a significant increase, reflecting strong operational performance.
The company's commitment to shareholder value is evident from its approved $40 million stock buyback program, reflecting confidence in its long-term growth prospects.
For more information about Tucows Inc., its services, and latest updates, please visit their corporate website at tucows.com.
Tucows (NASDAQ: TCX) reported Q3 2024 financial results with notable growth across key metrics. Revenue increased 6.1% to $92.3 million, while gross profit surged 32.4% to $22.2 million compared to Q3 2023. Adjusted EBITDA showed significant improvement, rising 94.3% to $8.7 million. Despite these gains, the company posted a net loss of $22.3 million ($2.03 per share), slightly improved from the $22.8 million loss in Q3 2023. The company implemented cost controls and workforce reductions in its Ting business, focusing on maximizing penetration of existing networks. Cash and equivalents stood at $91.1 million at quarter's end.
Tucows (NASDAQ: TCX) has implemented a capital efficiency plan involving significant workforce reductions, impacting approximately 42% of Ting's workforce and 17% of Tucows' total workforce. The restructuring aims to make Ting self-sufficient and improve overall company efficiency. The company expects significant Adjusted EBITDA growth for Tucows in 2025, with the Ting business projected to reach around EBITDA breakeven in the same year. The decision comes after exploring various financing options for Ting's expansion, with the company now focusing on increasing penetration in existing footprints and partner markets like Memphis and Colorado Springs.
Tucows (NASDAQ: TCX, TSX: TC) has scheduled its Q3 2024 financial results announcement for November 7, 2024, at 5:05 p.m. ET. Management will release pre-recorded audio commentary and transcript discussing quarterly results and company outlook simultaneously on their website. Shareholders and analysts can submit questions to ir@tucows.com until November 14, with responses to be posted on the company website on November 26, 2024, at approximately 4 p.m. ET.
Tucows Inc. (NASDAQ: TCX) (TSX: TC) announced that its subsidiary, Ting Fiber, , has closed a $63 million offering of Series 2024-1 Fixed Rate Senior Secured Notes. The proceeds will fund fiber network expansion and growth. Since May 2023, Ting has added 29,000 serviceable addresses and 9,500 customers. The Notes, priced at a 5.9% weighted average coupon, represent a 150 bps decrease compared to the 2023-1 notes. The cumulative outstanding balance of both 2023 and 2024 ABS notes is 8.1x the annualized run rate collections. The securitization includes 125,000 serviceable addresses and 45,500 customers across six states.
Tucows Inc. (NASDAQ: TCX) (TSX: TC) reported its Q2 2024 financial results, showing strong year-over-year growth in key metrics. Consolidated net revenue increased 5.2% to $89.4 million, while gross profit rose 15.4% to $20.8 million. The company's net loss decreased to $18.6 million ($1.70 per share) from $31.0 million ($2.86 per share) in Q2 2023. Adjusted EBITDA surged 70% to $9.2 million. The improved performance was driven by robust subscriber growth and gross margin increases in Ting, as well as revenue gains from Domains. Tucows continued to deleverage its business using cash flow from Wavelo and Tucows Domains. The company's cash position at the end of Q2 2024 was $52.2 million, down from $79.4 million in Q1 2024.
Tucows Inc. (NASDAQ: TCX, TSX: TC) has announced the timing for its Q2 2024 financial results release. The company will report its financial results for the quarter ended June 30, 2024, via news release on Thursday, August 8, 2024 at 5:05 p.m. ET. Simultaneously, management's pre-recorded audio commentary and transcript discussing the quarter and company outlook will be posted on the Tucows website.
Following this, shareholders, analysts, and prospective investors can submit questions to Tucows' management at ir@tucows.com until Thursday, August 15, 2024. Management will post responses to these questions on the company's website on Tuesday, August 27, 2024, at approximately 4 p.m. ET.
Tucows (NASDAQ: TCX) announced the voting results from its Annual Meeting of Shareholders held on June 20, 2024. Eight director nominees were elected, with Marlene Carl receiving the highest support (95.89%) and Allen Karp the least (75.30%). Deloitte LLP was appointed to audit the company's financial statements for the year ending December 31, 2024, with overwhelming approval (99.89%). Full details are available in the 2024 Notice of Annual Meeting and Proxy Statement on the company's website. Results have been filed with Canadian securities regulators and the SEC.
Tucows (NASDAQ: TCX) announced the appointment of Ivan Ivanov as its new Chief Financial Officer, effective August 5, 2024. Ivanov replaces Dave Singh, who is stepping down after seven years to pursue other opportunities. Ivanov joins Tucows from Verizon, where he held multiple financial leadership roles over 22 years, including Executive Director and business unit CFO. His expertise spans strategic capital management, cash flow planning, and commercial finance. CEO Elliot Noss praised Ivanov's relevant financial expertise and welcomed him to the team. Ivanov holds a Master of Accounting from Seton Hall University and is a Chartered Professional Accountant. Singh expressed pride in his tenure at Tucows, looking forward to supporting the company from the sidelines.
Wavelo has launched a new product catalog aimed at helping telecom operators retain and acquire customers by offering flexible, system-agnostic solutions. The catalog allows operators to quickly launch new products and services, reducing the update time from months to minutes. Key features include compatibility with any network type, customizable product bundles, and dynamic pricing and promotions. According to Neil Shah, Wavelo’s Chief Product Officer, the catalog will enable telecom operators to better serve their customers and enhance the overall customer experience. The offering can be integrated as a standalone service or as part of Wavelo’s broader system solutions.
Tucows Inc. reported strong financial results for Q1 2024 with revenue, gross profit, and adjusted EBITDA showing significant year-over-year growth. The company saw an 8.7% increase in consolidated net revenue, a 30.3% increase in gross profit, and a 38.7% rise in adjusted EBITDA. Despite a net loss of $26.5 million, Tucows' performance was driven by Wavelo, Ting, and Tucows Domains segments. The company continues to focus on deleveraging and strategic investments to drive future growth.
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