Operating Statistics (Amounts in thousands)
QUARTERLY | ||||
Q1/25 | Q4/24 | Q3/24 | Q2/24 | Q1/24 |
YTD | ANNUAL | |
2025 | 2024 | 2023 |
TING
Internet Subscribers under management3
Internet Subscribers under management - Net additions3 Owned Infrastructure Serviceable Addresses1,3,5
Owned Infrastructure Serviceable Addresses - Net additions1,3,5 Partner Infrastructure Serviceable Addresses1,5
Partner Infrastructure Serviceable Addresses - Net additions1,5
Fiber Capital Expenditures - Consumption2
51.7
50.7
49.6
48.2
46.1
51.7
50.7
43.4
1.0 | 1.1 | 1.4 | 2.1 | 2.7 | 1.0 | 7.3 | 9.0 |
133.4 | 133.5 | 132.0 | 128.3 | 124.0 | 133.4 | 133.5 | 121.3 |
-0.1 | 1.5 | 3.7 | 4.3 | 2.7 | -0.1 | 12.2 | 25.5 |
54.0 | 45.3 | 40.7 | 36.2 | 33.0 | 54.0 | 45.3 | 29.4 |
8.7 | 4.7 | 4.5 | 3.2 | 3.6 | 8.7 | 16.0 | 10.3 |
$2,900 | $2,100 | $8,200 | $12,100 | $18,100 | $2,900 | $40,500 | $80,250 |
24,300 | 24,500 | 24,600 | 24,500 | 24,700 | 24,300 | 24,500 | 24,560 |
5,624 | 5,215 | 5,278 | 5,276 | 5,996 | 5,624 | 21,765 | 22,031 |
TUCOWS DOMAINS
Domains under management
Total new, renewal and transferred-in domain name transactions4
Defined as premises to which Ting Owned Infrastructure or Ting Partner Infrastructure has the capability to provide a customer connection in a service area.
This includes all capital expenditures used to build and expand the Ting footprint, including construction and activation of the network and customers, capitalized labor, materials, and acquisitions net of capex write-offs.
Internet Subscribers and Serviceable Addresses from Simply Bits are not included in Ting metrics.
Includes all transactions processed under our accreditations for our resellers and our retail brands, as well as transactions processed on behalf of other registrars using our platform.
Serviceable addresses were revised for Q1 2023 and Q4 2022 based on new address recognition methodology, resulting in a reduction of 419 Owned Infrastructure Serviceable Addresses and 420 Partner Infrastructure Serviceable Addresses.
Summary of Historical Financial Results (In thousands of US dollars)
QUARTERLY | ||||
Q1/25 (Unaudited) | Q4/24 (Unaudited) | Q3/24 (Unaudited) | Q2/24 (Unaudited) | Q1/23 (Unaudited) |
YTD ANNUAL | ||
2025 (Unaudited) | 2024 (Unaudited) | 2023 (Unaudited) |
REVENUE
Ting | $16,315 | $15,749 | $15,310 | $14,571 | $14,102 | $16,315 | $59,732 | $50,937 |
Wavelo | 11,396 | 9,888 | 10,082 | 10,501 | 9,390 | 11,396 | 39,861 | 38,670 |
Tucows Domains | 65,255 | 65,674 | 64,715 | 62,368 | 61,882 | 65,255 | 254,639 | 242,097 |
Tucows Corporate1 | 1,643 | 1,787 | 2,190 | 1,983 | 2,083 | 1,643 | 8,043 | 7,633 |
TOTAL REVENUE | 94,609 | 93,098 | 92,297 | 89,423 | 87,457 | 94,609 | 362,275 | 339,337 |
GROSS MARGIN
Ting3 | 10,478 | 10,994 | 10,989 | 9,818 | 8,742 | 10,478 | 40,978 | 30,786 |
Wavelo | 11,259 | 9,368 | 10,019 | 10,162 | 9,039 | 11,259 | 38,588 | 36,044 |
Tucows Domains | 20,215 | 20,341 | 19,810 | 18,869 | 18,536 | 20,215 | 77,556 | 72,683 |
Tucows Corporate1 | (2,504) | (2,052) | (1,134) | (754) | (654) | (2,504) | (4,594) | (2,432) |
Network Expenses3 | (15,917) | (17,428) | (17,496) | (17,285) | (17,347) | (15,917) | (69,499) | (70,414) |
TOTAL GROSS PROFIT | 23,531 | 21,223 | 22,188 | 20,810 | 18,316 | 23,531 | 83,029 | 66,667 |
ADJUSTED EBITDA2
Ting | (854) | (1,468) | (5,070) | (6,442) | (9,537) | (854) | (22,517) | (44,151) |
Wavelo | 4,449 | 3,679 | 3,429 | 3,911 | 2,787 | 4,449 | 13,806 | 10,573 |
Tucows Domains | 11,540 | 11,633 | 11,529 | 11,217 | 10,011 | 11,540 | 44,390 | 42,623 |
Tucows Corporate | (1,464) | (995) | (1,200) | 492 | 941 | (1,464) | (762) | 6,406 |
TOTAL ADJUSTED EBITDA2 | $13,671 | $12,849 | $8,688 | $9,178 | $4,202 | $13,671 | $34,917 | $15,451 |
Tucows Corporate Revenue and Gross Margin includes revenue from retail mobile services, transition services provided to DISH and intercompany revenue eliminations.
Our adjusted EBITDA definition excludes depreciation, amortization of intangible assets, income tax provision, interest expense (net), accretion of contingent consideration, stock-based compensation, asset impairment, loss on debt extinguishment, gains and losses from unrealized foreign currency transactions and costs that are one-time in nature and not indicative of on-going performance (profitability), including acquisition and transition costs. Gains and losses from unrealized foreign currency transactions removes the unrealized effect of the change in the mark-to-market values on outstanding foreign currency contracts not designated in accounting hedges, as well as the unrealized effect from the translation of monetary accounts denominated in non-U.S. dollars to U.S. dollars.
In Q1/24, restructuring charges of $435K and $57K were presented within Gross Profit, in the Ting segment and Network Expenses respectively. In Q4/24, the Company incurred further restructuring charges and will pres ent total restructuring charges for the year within Loss from Operations as a separate line item in the financial statements. Q1/24 has not been recast however the change has been reflected in the Q4/24 and Annual 2024 Gross Profit.