Tucows issues amendment to Q4 2024 earnings

Core Viewpoint - Tucows Inc. reported an amendment to its unaudited financial results for Q4 and FY 2024, highlighting a reduction in non-cash impairment charges and significant net losses compared to the previous year [1][2][3]. Financial Results Summary - The net loss for Q4 2024 was $42.5 million, or a loss of $3.86 per share, compared to a net loss of $23.4 million, or a loss of $2.14 per share in Q4 2023, marking an 82% increase in loss [3][4]. - For the full year 2024, the net loss was $109.9 million, compared to a loss of $96.2 million in 2023, reflecting a 14% increase [4]. - Adjusted net income (loss) for Q4 2024 was ($15.8 million) and adjusted EPS was ($1.43), an improvement from ($22.4 million) and ($2.05) in Q4 2023, indicating a 30% reduction in adjusted net loss [3][4][16]. Revenue and Profit Analysis - Net revenues for Q4 2024 were $93.1 million, a 7% increase from $87.0 million in Q4 2023 [4][5]. - Gross profit for Q4 2024 was $21.2 million, up 19% from $17.8 million in Q4 2023 [4][5]. - Adjusted EBITDA for Q4 2024 was $12.8 million, compared to $2.6 million in Q4 2023, showing a significant improvement in operational performance [5][13]. Segment Performance - Ting Internet Services generated $15.7 million in revenue for Q4 2024, up from $13.8 million in Q4 2023 [5][6]. - Wavelo Platform Services reported revenues of $9.9 million, slightly up from $9.5 million in the same period last year [5][6]. - Tucows Domain Services saw total revenues of $65.7 million in Q4 2024, compared to $61.8 million in Q4 2023, reflecting growth in both wholesale and retail segments [5][6]. Management Commentary and Future Outlook - Management's pre-recorded audio commentary discussing the quarter and future outlook will be available on the Tucows website [17]. - Shareholders and analysts can submit questions to management, with responses to be posted on the company's website [18]. Company Overview - Tucows Inc. is a leader in internet services, providing domain services, fiber-optic internet infrastructure, and telecommunications software [19]. - The company manages approximately 25 million domain names and offers various value-added services through a global reseller network [19].