Tucows Inc - TCX STOCK NEWS

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.

Ting Internet, a division of Tucows (NASDAQ: TCX), will introduce Alexandria's first city-wide fiber internet service. Construction is set to begin in summer 2022, aiming to connect over 90,000 addresses. This initiative, awarded by the City of Alexandria, is expected to enhance digital accessibility through a partnership program that offers no-cost fiber access to select affordable housing units. Additionally, the project is projected to create numerous local jobs, enriching the community economically and technologically.

Tucows Inc. (NASDAQ: TCX) reported strong first-quarter results for 2022, with net revenue increasing by 14% year-over-year to $81.1 million. Gross profit rose 22% to $21.2 million, driven by growth in Ting Internet Services and Wavelo Platform Services. However, the company reported a net loss of $3.0 million or $0.28 per share, due to increased expenses from its fiber network buildout. Adjusted EBITDA decreased by 11% to $11.3 million. Cash and cash equivalents stood at $6.2 million.

Tucows (NASDAQ: TCX) will release its Q1 2022 financial results on May 5, 2022, at 5:05 p.m. ET. Alongside the release, management will provide a pre-recorded commentary on the quarter and future outlook, available on their website. Investors can submit questions from May 5 until May 13, with responses posted by May 25 at 4 p.m. ET. Tucows continues to focus on expanding internet access through its services, including Ting and Wavelo, which manage millions of domain names and provide fiber-optic infrastructure.

Ting Internet, a division of Tucows (NASDAQ: TCX), is constructing esports gaming labs at Charlottesville High School and Monticello High School. The initiative aims to support students' esports teams and promote STEAM career opportunities. The labs are expected to be operational by the end of the school year, benefiting thousands of local students. This installation is part of a broader plan to establish four esports facilities across the country. Ting also plans a gaming event at the Tom Tom Festival, encouraging community engagement and offering prizes for participants.

Tucows announced the addition of Michael Koenig as Chief Revenue Officer and Karaka Leslie as Head of People for its Wavelo division on April 14, 2022. Both leaders bring extensive experience, with Koenig focusing on revenue management and Leslie overseeing human resources. Their appointments aim to drive Wavelo's global growth and enhance its mission to provide innovative telecom software solutions. Wavelo, launched in early 2022, partners with DISH Wireless and Ting Internet, contributing to the evolution of the telecom industry.

Ting Internet, a division of Tucows (NASDAQ: TCX), is set to expand its fiber internet services to Aurora, Colorado, marking its largest network build yet. The initiative will service over 130,000 addresses, enhancing connectivity for local businesses and residents. Construction is expected to start in summer 2022, with initial service rollout by year-end. Ting aims to improve internet choice and foster economic growth in the community. The expansion follows successful operations in nearby Centennial and Colorado Springs, where Ting focuses on community engagement and reducing the digital divide.