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Tucows (TCX) investor relations material
Tucows Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was $100.0M, up 1.4% YoY; Adjusted EBITDA was $18.6M, including a $1.7M non-recurring prior-period mobile credit. Excluding it, EBITDA was $16.9M, up 27%.
Gross profit and Adjusted EBITDA grew YoY, while the net loss narrowed to $10.3M from $23.0M; management said 2026 guidance remained on track.
Domains and Wavelo were positioned for growth; a strategic process to divest Ting was underway.
Management highlighted progress simplifying obligations and reducing debt, while stressing the need to convert improved earnings into sustainable free cash flow.
Financial highlights
Q3 gross profit was $29.1M, up 20.5% YoY; excluding the non-recurring mobile credit, gross profit was $27.4M, up 13%.
Adjusted EBITDA was $18.6M versus $13.3M; the $1.7M prior-period catch-up was non-recurring.
GAAP net loss was $10.3M, or $0.92 per share, versus $23.0M, or $2.08; adjusted net loss was $5.8M, or $0.52 per share, versus $15.8M, or $1.42.
9M revenue was $297.2M, up 2%; gross profit was $79.0M, up 13%, and Adjusted EBITDA was $42.5M, up 8%.
Operating cash flow was negative $4.6M in Q3 versus positive $1.5M; 9M cash flow was positive $0.8M versus negative $3.2M.
Outlook and guidance
FY 2026 consolidated Adjusted EBITDA guidance remains $52.5M–$58.5M, excluding Ting; improved Corporate results are expected to offset softer Domains and Wavelo outlooks.
Domains FY Adjusted EBITDA is expected at $46M–$47M versus original guidance of $47M–$49M; expiry sales moderated in H2.
Wavelo is tracking modestly below its $14.5M–$15.5M guidance; subscriber moderation and timing of new-customer revenue affected results.
Corporate is expected to outperform its $6M–$9M Adjusted EBITDA loss guidance, reflecting improved mobile economics and a Q3 non-recurring benefit.
Colorado Springs lease assignment is expected to close in March 2027, with the parent guaranty expected to terminate by end-April, subject to closing and required obligations.
- Q2 2026 revenue and gross profit grew, Ting led gains, and liabilities were resolved.TCX
Q2 2026 Prepared Remarks - Revenue up 2% to $96.7M; net loss widens; Ting faces liquidity risk amid divestiture.TCX
Q1 2026 (Q&A) - Revenue up 2% to $96.7M, but net loss widened and Ting faces liquidity risk.TCX
Q1 2026 Prepared Remarks - Revenue up 8%, adjusted EBITDA up 45%, and Ting divestiture to boost capital flexibility.TCX
Q4 2025 (Q&A) - Q4 2025 revenue up 6%, gross profit up 14%, and adjusted EBITDA up 45% year-over-year.TCX
Q4 2025 Prepared Remarks - Q2 2025 saw 10% revenue growth, margin gains, and asset sales, despite a one-time lease expense.TCX
Q2 2025 (Q&A) - Q2 2025 saw 10% revenue and 37% adjusted EBITDA growth, with improved margins and asset sales.TCX
Q2 2025 Prepared Remarks - Q2 2024 revenue up 5%, EBITDA up 70%, net loss narrows, and $63M ABS secured.TCX
Q2 2024 (Q&A) - Q2 2024 revenue up 5% to $89.4M, gross profit and EBITDA surged, net loss narrowed.TCX
Q2 2024 Prepared Remarks
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