Tucows Inc - TCX STOCK NEWS

Tucows Inc. (NASDAQ: TCX) has announced the timing for its first quarter 2023 financial results, set to be released on May 8, 2023 at 5:05 p.m. ET. Following this, the company will hold an Investor Day on May 9, 2023 from 11 a.m. to 3 p.m. ET. During the results announcement, management's pre-recorded audio commentary will also be made available on the company's website. In addition, shareholders and potential investors can submit questions for seven days following the results release, with responses to be posted by May 30, 2023.

Tucows operates in the internet access sector, providing various services including fiber-optic internet and domain management.

Tucows (NASDAQ: TCX) announced a partnership with Ubiquity to expand its fiber network, bringing high-speed internet to Carlsbad, California, and Mesa, Arizona. This collaboration aims to connect up to 150,000 homes across both municipalities and enhance the company’s existing footprint in Southern California, which began in 2019. Construction is set to begin in early 2023 and continue for several years. CEO Elliot Noss emphasized the importance of efficient resource use and the vision for sustainable communities. The partnership reflects both companies’ commitment to providing accessible high-speed internet as essential infrastructure for community growth.

Ting Internet, a division of Tucows (NASDAQ: TCX), has announced the availability of its gigabit fiber Internet in Alexandria, Virginia, catering to local residents. Through the Affordable Connectivity Program (ACP), eligible residents can access this service at no cost, benefiting around 4,000 affordable housing units. Ting has been expanding since its 2015 launch and now operates in seven states. The company aims to provide competitive broadband while enhancing digital equity. Plans start at $89/month offering speeds up to 1,000 Mbps. The expansion supports local jobs and infrastructure, with full service expected by 2025.

Tucows Inc. (NASDAQ: TCX) announced a stock buyback program to repurchase up to $40 million of its common stock starting February 10, 2023 and ending on or before February 9, 2024. This replaces the previous $40 million buyback program initiated on February 11, 2022. Share repurchases will occur in the open market through Nasdaq, funded by working capital and credit facilities. As of February 8, 2023, Tucows had 10,824,963 common shares outstanding. All purchased shares will be retired and returned to treasury.

Tucows Inc. (NASDAQ: TCX) reported its Q4 2022 financial results, revealing a 4.3% decline in net revenue to $79 million, down from $82.5 million in Q4 2021. Gross profit also decreased by 30.8% to $17 million, due to lower one-time professional services revenues and increased network depreciation. The company faced a net loss of $13.4 million or $1.25 per share, significantly higher than the $2 million loss in Q4 2021. Adjusted EBITDA fell by 47% to $6.7 million. Cash reserves decreased to $23.5 million, down from $30.5 million in Q3 2022.

Tucows (NASDAQ: TCX) announced it will release its Q4 2022 financial results on February 9, 2023, at 5:05 p.m. ET. Alongside the news release, management will share a pre-recorded audio commentary discussing the quarter's performance and future outlook, available on their website. Investors and analysts can submit questions to management until February 16, 2023, with responses provided by February 28, 2023. This release is crucial for stakeholders as it provides insights into Tucows’ financial health and strategic direction.

Tucows Inc. (NASDAQ: TCX) reported a 2.8% increase in total revenue for Q3 2022, reaching $78.1 million, with significant growth in its Ting segment, where revenue surged 71% year-over-year. However, the company faced net losses of $8.0 million (or $0.74 per share), compared to a net income of $1.4 million in Q3 2021. Year-to-date revenue rose 9% to $242 million. Adjusted EBITDA also decreased by 35% to $7.9 million, primarily due to investments in Wavelo and Ting.