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    Software - Infrastructure
Tucows Inc.

Tucows Inc.

TC.TO
Tucows Inc.CA flagToronto Stock Exchange
19.00
CAD
+0.21
- -
211.83MMarket Cap
Tucows Inc.
TC.TO
(Toronto Stock Exchange)

Recent

price

19.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
5.83
7.26
10.01
12.41
13.06
15.65
18.04
31.26
32.63
31.73
29.38
28.54
29.82
31.23
33.03
35.27
35.38
Revenue per Share
0.15
0.46
0.39
0.4
0.57
1.04
1.53
2.12
1.62
1.45
0.55
0.32
-2.56
-8.85
-10.02
-6.85
-7.11
Basic EPS, GAAP
0.43
0.38
0.47
0.7
0.73
1.26
0.77
1.52
0.82
-0.68
-0.8
-4.16
-10.92
-8.96
-7
-2.09
-0.84
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-1.94
-0.79
-0.65
-0.14
0.64
1.72
3.31
5.51
7.23
8.74
9.53
10.5
8.15
-0.55
-10.36
-16.96
-18.51
Book Value per Share
-0.76
-0.44
-0.76
-0.7
0.23
-0.83
-0.3
-8.38
-5.63
-6.9
-5.58
-6.16
-6.83
-13.81
-22.84
-28.4
-29.87
Tangible Book Value per Share
14
13
11
10
11
11
11
11
11
11
11
11
11
11
11
11
11
Basic Weighted Avg Shares
85
97
115
130
147
172
190
329
346
337
311
304
321
339
362
390
392
Sales/Revenue/Turnover
1.86
3.82
4.82
5.01
7.21
11.08
13.17
8.23
8.55
8.67
2.55
-2.57
-9.72
-18.76
-10.03
-4.78
-5.11
Operating Margin (%)
3
2
2
2
2
2
3
12
15
19
24
28
40
47
46
46
46
Depreciation Expense
2
6
4
4
6
11
16
22
17
15
6
3
-28
-96
-110
-76
-79
Net Income, GAAP
9.06
- -
31.18
27.92
32.39
36.61
36.02
7.26
34.49
37.33
46.33
53.73
- -
- -
- -
- -
- -
Effective Tax Rate (%)
2.5
6.36
3.86
3.22
4.35
6.62
8.46
6.78
4.95
4.57
1.86
1.11
-8.59
-28.35
-30.33
-19.43
-20.08
Profit Margin (%)
-8
-5
-7
-5
5
-10
-1
-25
-33
-11
-22
-27
-18
41
6
-127
-137
Working Capital
- -
- -
- -
- -
- -
- -
8
59
46
123
131
203
251
452
508
539
547
LT Debt
24
30
27
27
36
26
38
60
80
94
105
115
97
10
-95
-164
-181
Total Equity
4.65
- -
11.95
14.28
20.34
36.45
40.17
26.78
13.64
10.01
1.86
-1.3
- -
- -
- -
- -
- -
Return on Invested Capital (%)
-8.26
- -
-67.76
715.53
107.31
77.56
48.44
28.47
14.16
10.26
3.42
2
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
87.2
59.76
48.06
25.45
18.17
5.96
3.16
-27.61
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
5
6
6
LT Borrowings
480
481
482
LT Finance Leases
49
58
65
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
11
11
11
Market Capitalization
204
245
191

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
209
203
200
Cash, Cash Equivalents & STI
54
47
44
Accounts Receivable, Net
28
24
28
Inventories
4
4
- -
Total Current Liabilities
195
330
337
Payables & Accruals
35
39
35
ST Debt
5
6
6
Deferred Revenue
154
149
153

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-92.41%
-217.73%
72.3%
Free Cash Flow
32.75%
96.58%
-69.94%
Net Income, GAAP
-74.49%
-145.84%
-30.99%
Sales/Revenue/Turnover
10.24%
4.7%
7.74%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
87
89
92
93
362
2025
95
98
99
99
390
2026
97
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-2.42
-1.7
-2.03
- -
-10.02
2025
-1.37
-1.41
-2.08
- -
-6.85
2026
-1.63
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Tucows Inc. is an internet services and telecommunications company that operates through three primary segments: Tucows Domains, Ting Internet, and Wavelo. Tucows Domains provides wholesale and retail domain name registration services under brands including OpenSRS, eNom, Ascio, EPAG, and Hover; hosted email; SSL digital certificates; internet security services; WHOIS privacy; publishing tools; and other value-added services through a global reseller network of over 35,000 web hosts and internet service providers, managing more than 25 million domain names primarily in the United States, Canada, and Europe. Ting Internet delivers high-speed gigabit fiber and fixed wireless internet access to retail consumers and small businesses in select towns and cities across the United States; Wavelo offers software-as-a-service platforms and professional services for communication service providers, including subscription and billing management under the Platypus brand, network orchestration and provisioning, individual developer tools, MONOS (Mobile Network Operating System) used by Dish Network, and ISOS (Internet Services Operating System). Founded in 1993 and headquartered at 96 Mowat Avenue in Toronto, Ontario, Canada, the company allocates capital and shared services across its businesses while targeting resellers, internet service providers, mobile virtual network operators, fiber internet services, and end-users in North America and Europe. Recent developments include the announcement of a $40 million stock buyback program in February 2025, set to run through February 2026 via the Nasdaq Capital Market; selection by Radix in August 2025 as its back-end registry services provider for approximately ten million domain names across eleven TLDs, expanding Tucows' oversight to about seventeen million domains upon migration completion in November 2025; and initiation of a strategic review process for Ting Internet, including a potential sale, to refocus on domains and Wavelo businesses as highlighted in the Q3 2025 earnings call.