Core Insights - Tucows Inc. reported strong year-over-year growth in revenue, gross profit, and adjusted EBITDA for Q3 2024, emphasizing revenue generation and cost control measures [2][3][6] Financial Performance - Consolidated net revenue for Q3 2024 increased by 6.1% to $92.3 million from $87.0 million in Q3 2023, primarily driven by revenue gains from Ting and Domains [3][9] - Gross profit for Q3 2024 rose by 32.4% to $22.2 million from $16.8 million in Q3 2023, attributed to significant gross margin improvements from Ting and Domains [4][9] - Adjusted EBITDA for Q3 2024 surged by 94.3% to $8.7 million from $4.5 million in Q3 2023, mainly due to revenue growth from Domains and Ting, along with effective cost management in the Ting business [6][9] Loss and Cash Flow - The net loss for Q3 2024 was $22.3 million, or a loss of $2.03 per share, compared to a net loss of $22.8 million, or $2.09 per share, in Q3 2023, reflecting improved revenue and gross profit along with reduced operating expenses [5][9] - Cash equivalents at the end of Q3 2024 were $91.1 million, an increase from $52.2 million at the end of Q2 2024, but a decrease from $122.4 million at the end of Q3 2023 [7][9] Business Segments - In the Ting Internet Services segment, revenue for Q3 2024 was $15.3 million, up from $12.9 million in Q3 2023, while gross profit increased significantly [9][10] - The Wavelo platform services generated $10.1 million in revenue for Q3 2024, slightly down from $10.7 million in Q3 2023, indicating a need for strategic adjustments [9][10] Management Commentary - Management highlighted the implementation of cost controls and a workforce reduction in the Ting business as part of a capital efficiency plan aimed at maximizing existing network contributions [2][5]

Capital Efficiency Plan - Tucows Inc has implemented a capital efficiency plan, including significant layoffs in its Ting business and at the head office level, as part of a shared services reorganization [1] - The plan impacts approximately 42% of Ting's workforce and 17% of Tucows' total workforce [2] - The decision was made to cut expenses and move towards Ting becoming self-sufficient, with the goal of transitioning Ting to a cash-generating business that sustains its own operations and growth [2] Financial Impact and Goals - The capital efficiency plan is expected to lead to significant Adjusted EBITDA growth for Tucows in 2025, with Ting business projected to be around Adjusted EBITDA breakeven in 2025 [2] - The plan aims to put Ting and Tucows businesses back on paths of growing Adjusted EBITDA, with a focus on increasing penetration within existing footprints and large partner markets like Memphis and Colorado Springs [2] - The company has secured capital from a recent asset-backed securitization to support this plan [2] Upcoming Details - The capital efficiency plan will be discussed in more detail in the upcoming Q3 2024 Management Remarks on November 7, 2024 [3] - Links to the third quarter remarks and related earnings reports will be available on Tucows' investor relations website [3] Company Overview - Tucows Inc is a global internet services leader, providing communications service technology, domain services, and fiber-optic internet infrastructure [4] - Ting delivers fixed fiber Internet access with outstanding customer support, while Wavelo offers a telecommunications software suite for service providers [4] - Tucows Domains manages approximately 25 million domain names and millions of value-added services through a global reseller network of over 35,000 web hosts and ISPs [4] - Hover provides domain name and email management services for individuals and small businesses [4]

TORONTO, Oct. 24, 2024 /PRNewswire/ - Tucows Inc. (NASDAQ: TCX) (TSX: TC) today announced that it will report its financial results for the third quarter ended September 30, 2024, via news release on Thursday, November 7, 2024 at 5:05 p.m. ET. Concurrent with the dissemination of its quarterly financial results news release at 5:05 p.m. ET on Thursday, November 7, 2024, management's pre-recorded audio commentary and transcript discussing the quarter and outlook for the Company will be posted to the Tucows w ...

TORONTO, Aug. 20, 2024 /PRNewswire/ - Tucows Inc. (NASDAQ: TCX) (TSX: TC), announced today that its subsidiary, Ting Fiber, LLC ("Ting"), has closed an offering by one of its subsidiaries for $63 million. The offering consists of Series 2024-1 Fixed Rate Senior Secured Notes, Class A-2 and Class B, (collectively, the "Notes"), maturing August 2054. All figures are in U.S. dollars. Ting will use the net proceeds from the Notes to fund the expansion of its fiber networks, create capacity for growth, and other ...

Exhibit 99.1 Monica Webb, Vice President, Investor Relations mwebb@tucows.com I 647.898.9924 Tucows Reports Financial Results for Second Quarter 2024 TORONTO, August 8, 2024 – Tucows Inc. (NASDAQ:TCX, TSX:TC), a global internet services leader, today reported its financial results for the second quarter ended June 30, 2024. All figures are in U.S. dollars. "We finished the second quarter of 2024 with strong year-over-year growth of consolidated revenue, gross profit and adjusted EBITDA, driven by a solid qu ...

Tucows Inc. (TCX) reported a narrower net loss in the second quarter of 2024, driven by solid revenue growth across its key segments and improved cost management, particularly within its Ting Internet Services division. Despite ongoing challenges related to increased network-related expenses, TCX saw notable improvements in gross profit and adjusted EBITDA, reflecting the company's strategic focus on operational efficiencies and scaling its infrastructure. The continued execution of a deleveraging strategy, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |---------------------------------------------------------------------------------------------|-----------------------------------------------------| | | | | For the trans ...

TORONTO, Aug. 8, 2024 /PRNewswire/ - Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global internet services leader, today reported its financial results for the second quarter ended June 30, 2024. All figures are in U.S. dollars. "We finished the second quarter of 2024 with strong year-over-year growth of consolidated revenue, gross profit and adjusted EBITDA, driven by a solid quarter from Ting with robust subscriber growth, gross margin increases and a lower operating loss, which is on track with our expectation ...

Concurrent with the dissemination of its quarterly financial results news release at 5:05 p.m. ET on Thursday, August 8, 2024, management's pre-recorded audio commentary and transcript discussing the quarter and outlook for the Company will be posted to the Tucows website at http://www.tucows.com/investors/financials. SOURCE Tucows Inc. About Tucows Following management's prepared commentary, for the subsequent seven days, until Thursday, August 15, 2024, shareholders, analysts and prospective investors can ...

1. Election of Directors TORONTO, July 11, 2024 /PRNewswire/ - Tucows Inc. (NASDAQ: TCX) (TSX: TC) The following matters were voted upon at the Tucows Annual Meeting of Shareholders held on June 20, 2024. Each of the matters is described in greater detail in the 2024 Notice of Annual Meeting of Shareholders and Proxy Statement, available at www.tucows.com/investors/filings. Each of the eight nominees listed in the Tucows Proxy Statement dated May 10, 2024, was elected as a director to serve until the next a ...