Tucows, Inc - TCX STOCK NEWS

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.

Wavelo partners with Amazon Web Services (AWS) to provide cloud-native solutions for communication services providers (CSPs), aiming to enhance operational efficiency and customer experience. Their suite includes a modern alternative to OSS/BSS, leveraging event-driven architecture for faster market deployment. CSPs like DISH and Ting Fiber have already integrated Wavelo's platforms for improved service delivery. This collaboration coincides with an industry shift towards 5G and IoT, emphasizing the need for agile telecom software.

Ting Internet, a division of Tucows (NASDAQ: TCX), is set to expand its fiber internet services in Colorado, beginning with a city-wide network in Durango. Starting spring 2022, this initiative aims to enhance local connectivity for residents and businesses, providing higher speeds and reliable service. Ting's previous acquisition of Cedar Holdings Group is pivotal for this expansion, which also includes plans for future builds in Cortez and other Western Slope locations. Ting's mission is to unlock economic development through improved internet access.

Ting Internet, a division of Tucows (NASDAQ: TCX), has launched its fiber internet service in Encinitas, California, marking its fourth market in Southern California. The rollout aims to provide high-speed internet access to nearly 26,000 addresses, with full municipal access expected by the end of 2023. Plans start at $89 per month for gigabit speeds of 1,000 Mbps. Ting’s goal is to enhance connectivity in areas with infrastructure challenges, and it's committed to offering reliable internet through dedicated bandwidth and excellent customer support.

Tucows has approved a $40 million stock buyback program to repurchase its common stock over the next year. This buyback will commence on February 11, 2022, and run until February 10, 2023, replacing the previously announced buyback program. All repurchased shares will be retired and returned to treasury. The buyback will be funded through available working capital and existing credit facilities. As of February 9, 2022, Tucows had 10,753,079 shares outstanding.