Tucows Q2 Revenue Hits $100.6M, Ting Drives Gross Profit Jump
TCX sits 66% above its 52-week low of $8.46.
Summary
Tucows reported Q2 revenue of $100.6M, up 2.1% YoY, with gross profit surging 16.6% to $25.8M, driven by Ting's margin gains and subscriber growth. Adjusted EBITDA improved 5.4% sequentially to $12.3M, and the company generated $1.9M in operating cash flow. Net loss widened to $20.5M from $15.6M a year ago, partly due to legacy mobile obligations and Wavelo investments, with loss per share of $1.84. This follows the July 30 8-K disclosing the elimination of a ~$150M Ting preferred unit obligation, which strengthens the balance sheet. The results show Ting's improving unit economics, but overall profitability remains elusive as losses persist.
At the time of this announcement, TCX was trading at $14.07 on NASDAQ in the Technology sector, with a market capitalization of approximately $156.9M. The 52-week trading range was $8.46 to $25.17. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: PR Newswire.