Tucows, Inc - TCX STOCK NEWS

Tucows reported its Q1 2021 financial results, revealing a net revenue of $70.9 million, down 15.6% from $84.0 million in Q1 2020. The drop was primarily due to the transition from a Mobile Virtual Network Operator to a Mobile Services Enabler, resulting in reduced revenue from Mobile Services. Gross profit also fell 30.6% to $17.5 million. Despite these declines, Adjusted EBITDA remained steady at $12.7 million. The net income decreased by 24.2% to $2.1 million, reflecting higher depreciation costs.

Tucows Inc. (NASDAQ: TCX, TSX: TC) plans to report its Q1 2021 financial results on May 6, 2021, at 5:05 PM ET, followed by a pre-recorded audio commentary on its quarterly performance and future outlook. Shareholders and investors can submit questions until May 11, with responses posted on May 18. Tucows provides internet services, including Ting Internet for fiber access, and manages around 25 million domain names through various platforms. The upcoming financial results may impact investor sentiment.

Ting Internet, a division of Tucows (NASDAQ: TCX), announced an expansion into Dover and Kootenai, Idaho, enhancing access to fiber internet in the Greater Sandpoint region. The service aims to provide residents and businesses with true gigabit speeds, moving away from older cable infrastructure. Ting's pricing starts at $39 per month for 50 Mbps, with options for businesses beginning at $139 per month. Infrastructure development is underway, with services expected to launch later this year, supported by local interest and community partnerships.

Ting Internet, a division of Tucows, is launching its fiber-optic internet service in Encinitas, CA, marking the company's first market entry for 2021. This expansion adds Encinitas to the list of California cities already served by Ting: Culver City, Fullerton, and Solana Beach. The service aims to meet the growing demand for high-speed internet, especially during the pandemic. Ting's network will cover nearly 50,000 addresses, with pricing starting at $89 per month for residential services. Pre-orders are now available.

Tucows announced a stock buyback program to repurchase up to $40 million of its common stock, commencing February 10, 2021. This new buyback program will terminate on or before February 9, 2022, and follows the termination of a previous program with the same value. The shares bought back will be retired and returned to treasury. The timing and number of shares purchased will depend on market conditions and available cash. Tucows intends to fund the buyback from working capital and existing credit facilities, with 10,615,725 shares outstanding as of February 8, 2021.

Tucows reported a net revenue of $70.8 million for Q4 2020, down 17.6% year-over-year. The decrease was primarily due to the transition from a Mobile Virtual Network Operator to a Mobile Services Enabler model, impacting mobile service revenue. Gross profit fell 33.1% to $17.4 million. The net income dropped 64.2% to $2.1 million, with earnings per share at $0.19. Despite these declines, the Domains and Ting Internet businesses showed growth, with respective revenue increases of 6% and 67%.

Ting Internet, a division of Tucows (NASDAQ: TCX), is expanding its fiber Internet service to Culver City, California. This marks the city's inclusion as the third Ting Internet location in California, following Solana Beach and Fullerton. Network construction will begin in 2021, with services expected to launch by summer. Pre-orders for the service are currently open, offering a refundable $9 pre-order fee and additional credits. Ting aims to provide reliable, gigabit-speed Internet access to enhance community connectivity.

Tucows Inc. (NASDAQ:TCX) reported its Q2 2020 results, revealing net revenue of $82.1 million, a 2.4% decline from the previous year. Gross profit also decreased by 6.3% to $23.0 million. Net income plummeted 94% to $0.2 million, with basic EPS at $0.01. Excluding asset impairments, net income would have been $2.5 million. Adjusted EBITDA rose 6% to $12.2 million. Despite pandemic challenges, Tucows noted a strong performance in its Domains business and improvements in Ting Internet. Cash from operations increased by 28.1% year-over-year.

DISH Network Corporation has partnered with Tucows to enhance its retail wireless business by utilizing Tucows' technology platform. The agreement, effective August 1, 2020, includes DISH acquiring Ting Mobile assets and customer relationships, transitioning most Ting Mobile customers to DISH while retaining their current plans. Tucows will focus on its Mobile Services Enabler solutions, aiming to streamline operations for mobile providers, with DISH being its first customer in this sector. This collaboration positions both companies to enhance customer experience and operational capabilities in a competitive U.S. mobile market.