Tucows Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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	24.75	46.76	56.9	92.69	23.5	9.11
Cash & Short-Term Investments	24.75	46.76	56.9	92.69	23.5	9.11
Cash Growth	-54.23%	-17.83%	-38.61%	294.48%	158.06%	9.55%
Accounts Receivable	30.56	24.49	20.88	23.62	23.56	15.36
Other Receivables	0.64	0.11	0.22	0.71	2.47	3.47
Receivables	31.21	24.61	21.1	24.33	26.03	18.83
Inventory	4.14	3.87	3.98	6.79	7.28	3.28
Prepaid Expenses	16.28	24.18	17.31	17.39	17.01	20.99
Restricted Cash	5.1	5.32	4.63	3.64	-	-
Other Current Assets	97.21	98.37	101.47	97.93	96.1	94.81
Total Current Assets	178.68	203.09	205.38	242.76	169.92	147
Property, Plant & Equipment	343.2	345.27	366.69	367.11	301.98	190.18
Long-Term Investments	2.01	2.01	2.01	2.01	2.01	2.01
Goodwill	130.41	130.41	130.41	130.41	130.41	130.41
Other Intangible Assets	18.06	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	18.85	18.14	17.84	18	18.3	19.28
Other Long-Term Assets	11.11	12.29	11.71	8.65	-	0.28
Total Assets	702.31	730.91	758.8	798.43	664.75	539.6

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Accounts Payable	9.94	9.9	9.01	12.68	17.17	10.02
Accrued Expenses	25.33	25.97	31.85	35.97	23.46	16.12
Current Portion of Long-Term Debt	21.06	136.96	-	-	-	-
Current Portion of Leases	6.73	5.77	5.15	5.4	4.64	3.15
Current Income Taxes Payable	1.41	2.8	0.26	1.24	2.25	0.1
Current Unearned Revenue	275.48	131.58	135.65	126.73	122.89	124.12
Other Current Liabilities	19.58	17.44	17.93	19.34	17.77	20.18
Total Current Liabilities	359.52	330.43	199.85	201.34	188.19	173.68
Long-Term Debt	456.78	481.18	604.23	544.64	329.36	190.75
Long-Term Leases	71.66	57.82	25.9	18.26	12.44	11.85
Long-Term Unearned Revenue	21.53	21.35	21.16	21.35	22.24	23.68
Long-Term Deferred Tax Liabilities	2.96	2.96	2.96	2.97	15.72	22.57
Other Long-Term Liabilities	0.06	1.37	-	-	0.14	1.97
Total Liabilities	912.51	895.11	854.1	788.55	568.09	424.5

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Common Stock	39.62	38.31	36.58	34.37	31.87	28.52
Additional Paid-In Capital	25.09	23.53	19.24	14.07	8.11	2.76
Retained Earnings	-274.83	-225.98	-150.16	-40.3	55.9	83.47
Comprehensive Income & Other	-0.07	-0.06	-0.96	1.73	0.78	0.34
Total Common Equity	-210.2	-164.2	-95.3	9.88	96.66	115.09
Shareholders' Equity	-210.2	-164.2	-95.3	9.88	96.66	115.09
Total Liabilities & Equity	702.31	730.91	758.8	798.43	664.75	539.6

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	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
Total Debt	556.23	681.73	635.28	568.29	346.44	205.75
Net Cash (Debt)	-531.47	-634.98	-578.37	-475.6	-322.95	-196.65
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-47.71	-57.38	-52.73	-43.78	-29.99	-18.18
Filing Date Shares Outstanding	11.22	11.13	11.03	10.93	10.83	10.76
Total Common Shares Outstanding	11.2	11.11	11.01	10.9	10.82	10.75
Working Capital	-180.84	-127.33	5.53	41.42	-18.27	-26.68
Book Value Per Share	-18.77	-14.78	-8.65	0.91	8.94	10.71
Tangible Book Value	-358.66	-314.31	-250.47	-150.02	-73.54	-65.73
Tangible Book Value Per Share	-32.03	-28.29	-22.74	-13.76	-6.80	-6.12
Land	1.11	1.11	1.11	1.11	1.11	1.12
Buildings	9.31	9.39	9.21	9.12	8.86	9.1
Machinery	66.96	61.35	125.32	114.33	90.67	64.48
Construction In Progress	3.12	8.25	25.81	75.52	62.59	29.41
Leasehold Improvements	0.43	0.43	0.74	0.73	0.62	0.55