--- title: "Tucows | 10-Q: FY2026 Q1 Revenue: USD 96.66 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285623402.md" datetime: "2026-05-07T21:25:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285623402.md) - [en](https://longbridge.com/en/news/285623402.md) - [zh-HK](https://longbridge.com/zh-HK/news/285623402.md) --- # Tucows | 10-Q: FY2026 Q1 Revenue: USD 96.66 M Revenue: As of FY2026 Q1, the actual value is USD 96.66 M. EPS: As of FY2026 Q1, the actual value is USD -1.63. EBIT: As of FY2026 Q1, the actual value is USD 9.558 M. ### Overall Company Financial Performance (Three Months Ended March 31, 2026 vs. 2025) #### Operational Metrics - **Gross Profit**: Gross profit was $24.1 million in 2026, up from $23.5 million in 2025. - **Loss from Operations**: The company reported a loss from operations of - $4.3 million in 2026, compared to - $2.0 million in 2025. - **Interest Expense, Net**: Interest expense, net, was - $13.9 million in 2026, compared to - $13.6 million in 2025. - **Other Income, Net**: Other income, net, was $2.5 million in 2026, down from $2.7 million in 2025. - **Net Loss for the Period**: The net loss for the period was - $18.1 million in 2026, compared to - $15.1 million in 2025. - **Adjusted EBITDA**: Adjusted EBITDA decreased by $2.0 million, or 15%, to $11.7 million for the three months ended March 31, 2026, from $13.7 million in the prior year period. #### Cash Flow - **Cash Flow from Operating Activities**: Net cash inflows from operating activities totaled $3.5 million for the three months ended March 31, 2026, compared to net cash outflows of - $11.3 million for the same period in 2025. - **Cash Flow from Investing Activities**: Net cash outflows from investing activities totaled - $5.8 million for the three months ended March 31, 2026, an increase of 29% compared to - $4.5 million in the prior year period. - **Cash Flow from Financing Activities**: Net cash outflows from financing activities were $0 for the three months ended March 31, 2026, compared to - $2.5 million in the prior year period. ### Ting Segment #### Segment Revenue - Total Ting revenue was $19.4 million for the three months ended March 31, 2026, an increase of $3.1 million or 19%, from $16.3 million in the prior year period. - Fiber Internet Services revenue was $17.1 million in 2026, up from $16.3 million in 2025. - Construction services revenue was $2.2 million in 2026, up from $0 in 2025. #### Operational Metrics - **Segment Adjusted EBITDA**: Segment Adjusted EBITDA was - $430 thousand in 2026, compared to - $854 thousand in 2025. - **Cost of revenues**: Cost of revenues increased by $2.8 million, or 48%, to $8.6 million in 2026, compared to $5.8 million in 2025. - **Net loss**: Ting had a net loss of - $20.3 million for the three months ended March 31, 2026, compared to - $20.2 million for the same period in 2025. #### Unique Metrics - **Ting Internet accounts under management**: Increased to 57,000 as of March 31, 2026, from 52,000 as of March 31, 2025. - **Owned infrastructure serviceable addresses**: Were 126,000 as of March 31, 2026, down from 133,000 as of March 31, 2025. - **Partner infrastructure serviceable addresses**: Increased to 123,000 as of March 31, 2026, from 54,000 as of March 31, 2025. - **Operating cash flow deficit**: Was - $3.7 million for the three months ended March 31, 2026, a significant improvement from - $17.0 million in the prior year period. - **Current liabilities (redeemable preferred units)**: Included $142.0 million as of March 31, 2026. - **Scheduled interest payments**: $20.1 million in the twelve months following March 31, 2026. ### Wavelo Segment #### Segment Revenue - Total Wavelo revenue was $11.6 million for the three months ended March 31, 2026, an increase of $0.2 million or 1%, from $11.4 million in the prior year period. - Platform Services revenue was $11.6 million in 2026, up from $11.4 million in 2025. #### Operational Metrics - **Segment Adjusted EBITDA**: Segment Adjusted EBITDA was $3.6 million in 2026, compared to $4.4 million in 2025. - **Cost of revenues for Platform Services**: Increased by $0.2 million, or 138%, to $0.3 million in 2026, compared to $0.1 million in 2025. #### Unique Metrics - **Customer (EchoStar) % of total net revenue**: Accounted for 11.4% for the three months ended March 31, 2026, and 11.5% for the same period in 2025. - **Customer (EchoStar) % of total accounts receivable**: Represented 50% as of March 31, 2026, and 44% as of December 31, 2025. ### Tucows Domains Segment #### Segment Revenue - Total Tucows Domains revenue was $64.1 million for the three months ended March 31, 2026, a decrease of $1.2 million from $65.3 million in the prior year period. - Wholesale Domain Services revenue decreased by $1.2 million, or 2%, to $48.8 million in 2026, from $50.0 million in 2025. - Value Added Services revenue decreased by $0.4 million, or 7%, to $5.5 million in 2026, from $5.9 million in 2025. - Retail revenue increased by $0.5 million, or 5%, to $9.8 million in 2026, from $9.3 million in 2025. #### Operational Metrics - **Segment Adjusted EBITDA**: Segment Adjusted EBITDA was $11.6 million in 2026, compared to $11.5 million in 2025. - **Cost of revenues for Wholesale domain services**: Decreased by $1.6 million, or 4%, to $38.8 million in 2026, from $40.4 million in 2025. - **Cost of revenues for Retail domain services**: Increased by $0.1 million, or 2%, to $4.3 million in 2026, from $4.2 million in 2025. #### Unique Metrics - **Domains under management**: Decreased by 2.8 million, or 12%, to 21.5 million as of March 31, 2026, from 24.3 million as of March 31, 2025. - **Total new, renewed, and transferred-in domain name registrations provisioned**: Were 5,190 thousand in 2026, down from 5,624 thousand in 2025. ### Corporate and all other #### Segment Revenue - Mobile Services and eliminations revenue decreased by less than $0.1 million to $1.6 million in 2026, compared to $1.6 million in 2025. #### Operational Metrics - **Cost of revenues for Mobile Services and Eliminations**: Increased by $0.4 million or 10%, to $4.6 million in 2026, from $4.1 million in 2025. - **Accrued minimum penalties for MNO shortfall**: $0.2 million in 2026, compared to $1.3 million in 2025. ### Outlook and Strategy Tucows Inc. is conducting a strategic review for its Ting business to optimize its capital structure, exploring potential asset sales or partnership structures for its fiber network assets. Ting may require additional financing and faces risks if unable to secure it, potentially leading to operational restrictions or bankruptcy, though its structure prevents cross-defaults under the 2023 Credit Facility. Wavelo aims to grow by providing accessible telecom software to Communication Service Providers globally, while Tucows Domains focuses on customer retention and growth through refining its platforms and customer service. ### Related Stocks - [TCX.US](https://longbridge.com/en/quote/TCX.US.md) ## Related News & Research - [Tucows Posts First Quarter 2026 Revenue and Gross Profit Growth and Positive Operating Cash Flow | TCX Stock News](https://longbridge.com/en/news/285619969.md) - [Here's Why We're Wary Of Buying Sabaf's (BIT:SAB) For Its Upcoming Dividend](https://longbridge.com/en/news/287155779.md) - [NVent Electric Board Approves $500 Mln Share Repurchase Program](https://longbridge.com/en/news/286646791.md) - [Lithium Chile Shareholders Vote 96% in Favor of Proposed Sale of Company's Arizaro Project In Salta, Argentina](https://longbridge.com/en/news/286910597.md) - [HPE to Present Live Audio Webcast of Fiscal 2026 Second Quarter Earnings Conference Call | HPE Stock News](https://longbridge.com/en/news/285935495.md)