Business
Tucows Delivers Strong Results in Q3 And Reiterates Full-Year Financial Guidance
TORONTO, Nov. 6, 2025 /PRNewswire/ - Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global internet services leader, today reported its unaudited financial results
About this update from Tucows Inc.
[{"type":"text","content":"\n TORONTO, Nov. 6, 2025 /PRNewswire/ - Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global internet services leader, today reported its unaudited financial results for the third quarter ended September 30, 2025. All figures are in U.S. dollars.\n \n \n \n \n \n \n \n \"We're seeing the operating leverage we've been working toward,\" said Ivan Ivanov, CFO of Tucows. \"Broad‑based topline growth, strong economics at Wavelo, continued margin expansion from Domains, and a more capital‑efficient Ting combined to deliver a 53% increase in Adjusted EBITDA on 9% gross‑profit growth. This puts our year-to-date consolidated Adjusted EBITDA of $39.5 million slightly ahead of progress towards our 2025 guidance. The business is becoming simpler and healthier, and we have a clear line of sight to further improvement with initiatives underway to deliver value for Tucows' shareholders.\"\n \n Financial Results \n \n Consolidated net revenue for the third quarter of 2025 increased 6.8% to $98.6 million from $92.3 million for the third quarter of 2024, driven by revenue gains from all three Tucows businesses.\n Gross profit for the third quarter of 2025 increased 9% to $24.2 million from $22.2 million from the third quarter of 2024. The increase in gross profit was driven by strong year-over-year margin gains from Wavelo and Tucows Domains.\n Net loss for the third quarter was $23.0 million ($2.08 per share), compared with a net loss of $22.3 million ($2.03 per share) in Q3 2024. Adjusted net loss¹ was $15.8 million (adjusted EPS¹ of $(1.42)) in Q3 2025 versus $19.8 million (adjusted EPS¹ of $(1.81)) in Q3 2024.\n Adjusted EBITDA1 for the third quarter of 2025 grew 53% to $13.3 million from $8.7 million for the third quarter of 2024. The year-over-year improvement was fueled by revenue growth across all three segments; margin expansion from Wavelo and Tucows Domains; Ting's shift to a capital-light model, and cost discipline and AI-driven efficiencies across the Company.\n We ended the third quarter of 2025 with cash and cash equivalents, and restricted cash and restricted cash equivalents of $70.8 million. This compares with $68.6 million at the end of the second quarter of 2025 and $91.1 million at the end of the third quarter of 2024.\n \n Summary Financial Results\n (In Thousands of US Dollars, except Per Share data)\n \n \n \n \n \n \n \n \n \n \...