Tucows Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	46.76	56.9	92.69	23.5	9.11
Cash & Short-Term Investments	46.76	56.9	92.69	23.5	9.11
Cash Growth	-17.83%	-38.61%	294.48%	158.06%	9.55%
Accounts Receivable	24.49	20.88	23.62	23.56	15.36
Other Receivables	-	0.22	0.71	2.47	3.47
Receivables	24.49	21.1	24.33	26.03	18.83
Inventory	-	3.98	6.79	7.28	3.28
Prepaid Expenses	29.38	17.31	17.39	17.01	20.99
Restricted Cash	5.32	4.63	3.64	-	-
Other Current Assets	97.15	101.47	97.93	96.1	94.81
Total Current Assets	203.09	205.38	242.76	169.92	147
Property, Plant & Equipment	345.27	366.69	367.11	301.98	190.18
Long-Term Investments	-	2.01	2.01	2.01	2.01
Goodwill	130.41	130.41	130.41	130.41	130.41
Other Intangible Assets	19.7	24.76	29.48	39.79	50.41
Long-Term Accounts Receivable	-	-	-	2.33	-
Long-Term Deferred Tax Assets	-	-	-	-	0.02
Long-Term Deferred Charges	15.88	17.84	18	18.3	19.28
Other Long-Term Assets	16.55	11.71	8.65	-	0.28
Total Assets	730.91	758.8	798.43	664.75	539.6
Accounts Payable	35.27	9.01	12.68	17.17	10.02
Accrued Expenses	-	31.85	35.97	23.46	16.12
Current Portion of Long-Term Debt	136.96	-	-	-	-
Current Portion of Leases	5.77	5.15	5.4	4.64	3.15
Current Income Taxes Payable	-	0.26	1.24	2.25	0.1
Current Unearned Revenue	131.58	135.65	126.73	122.89	124.12
Other Current Liabilities	20.84	17.93	19.34	17.77	20.18
Total Current Liabilities	330.43	199.85	201.34	188.19	173.68
Long-Term Debt	481.18	604.23	544.64	329.36	190.75
Long-Term Leases	57.82	25.9	18.26	12.44	11.85
Long-Term Unearned Revenue	21.35	21.16	21.35	22.24	23.68
Long-Term Deferred Tax Liabilities	2.96	2.96	2.97	15.72	22.57
Other Long-Term Liabilities	1.37	-	-	0.14	1.97
Total Liabilities	895.11	854.1	788.55	568.09	424.5
Common Stock	38.31	36.58	34.37	31.87	28.52
Additional Paid-In Capital	23.53	19.24	14.07	8.11	2.76
Retained Earnings	-225.98	-150.16	-40.3	55.9	83.47
Comprehensive Income & Other	-0.06	-0.96	1.73	0.78	0.34
Total Common Equity	-164.2	-95.3	9.88	96.66	115.09
Shareholders' Equity	-164.2	-95.3	9.88	96.66	115.09
Total Liabilities & Equity	730.91	758.8	798.43	664.75	539.6
Total Debt	681.73	635.28	568.29	346.44	205.75
Net Cash (Debt)	-634.98	-578.37	-475.6	-322.95	-196.65
Net Cash Per Share	-57.38	-52.73	-43.78	-29.99	-18.18
Filing Date Shares Outstanding	11.11	11.03	10.93	10.83	10.76
Total Common Shares Outstanding	11.11	11.01	10.9	10.82	10.75
Working Capital	-127.33	5.53	41.42	-18.27	-26.68
Book Value Per Share	-14.78	-8.65	0.91	8.94	10.71
Tangible Book Value	-314.31	-250.47	-150.02	-73.54	-65.73
Tangible Book Value Per Share	-28.29	-22.74	-13.76	-6.80	-6.12
Land	-	1.11	1.11	1.11	1.12
Buildings	-	9.21	9.12	8.86	9.1
Machinery	-	125.32	114.33	90.67	64.48
Construction In Progress	-	25.81	75.52	62.59	29.41
Leasehold Improvements	-	0.74	0.73	0.62	0.55

Source: S&P Global Market Intelligence. Standard template. Financial Sources.