Welcome to our dedicated page for Tucows news (Ticker: TCX), a resource for investors and traders seeking the latest updates and insights on Tucows stock.
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) 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.
Wavelo, a software company for communication service providers, appoints Andy Youé as Vice President of Sales to support rapid growth. Andy's experience in global sales will enhance Wavelo's ability to help operators increase revenue and reduce costs. The move aims to diversify the customer base, scale globally, and address technical challenges faced by modern telecom operators.
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