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.
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.
Tucows Inc. (NASDAQ: TCX) has announced it will release its third quarter 2022 financial results on November 3, 2022, at 5:05 p.m. ET. In addition to the financial results, a pre-recorded audio commentary discussing the quarter's performance and future outlook will be available on the Tucows website. Shareholders and analysts can submit questions until November 10, 2022, with responses to be posted on November 22, 2022. Tucows provides services in internet access and domain management, managing around 25 million domain names.
Tucows Inc. (NASDAQ: TCX) reported strong financial results for Q2 2022, with net revenue increasing 11% year-over-year to $83.1 million and gross profit up 21% to $22.1 million. The growth was driven by strong performance in both Ting Internet Services and Wavelo Platform Services. However, the company faced a net loss of $3.1 million due to accelerated investments in Ting's fiber network, impacting earnings per share which fell to ($0.29). Adjusted EBITDA grew by 5% to $11.7 million, supported by Wavelo's growth.
Ting Fiber, a subsidiary of Tucows (NASDAQ: TCX), has secured up to $200 million USD in financing from Generate Capital, aimed at accelerating the deployment of next-generation communications infrastructure in the U.S. The financing includes $60 million funded at close and $140 million tied to operational milestones. This partnership is expected to enhance Ting's expansion across 15 markets, contributing to building resilient, sustainable communities and advancing the rollout of fiber networks.
Tucows Inc. (NASDAQ: TCX) will announce its Q2 2022 financial results on August 9, 2022, at 5:05 p.m. ET. Alongside the financial release, a pre-recorded management commentary discussing the quarter and future outlook will be available on Tucows' website. Shareholders and analysts can submit questions until August 16, with follow-up responses posted by August 25. Tucows specializes in internet access technology, providing domain services and fiber-optic infrastructure.
FAQ
What is the current stock price of Tucows (TCX)?
What is the market cap of Tucows (TCX)?
What does Tucows Inc. do?
What are the main business segments of Tucows?
How many domain names does Tucows manage?
What is Ting?
What services does Wavelo provide?
How is Tucows performing financially?
What recent developments have been announced by Tucows?
How can I get more information about Tucows' financials?
What is the stock buyback program initiated by Tucows?
Where is Tucows headquartered?
