Tucows Inc. (TSX:TC)
Canada · Delayed Price · Currency is CAD 19.11
+1.21 (6.76%)
Nov 9, 2026, 4:00 PM EST
Tucows Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
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 |
Net Income | -70.88 | -75.82 | -109.86 | -96.2 | -27.57 | 3.36 |
Depreciation & Amortization | 43.29 | 45.63 | 45 | 47.26 | 39.58 | 27.99 |
Other Amortization | 5.67 | 5.28 | 5.1 | 3.61 | 0.69 | 0.3 |
Loss (Gain) From Sale of Assets | 0.7 | -5.88 | - | - | 0.01 | 0 |
Asset Writedown & Restructuring Costs | 0.62 | 11.53 | 19.17 | 4.82 | 0.09 | 0.2 |
Stock-Based Compensation | 6.08 | 7.14 | 7.02 | 8.13 | 7.6 | 4.59 |
Other Operating Activities | 17.08 | 14.17 | 10.61 | 16.28 | -5.36 | -3.26 |
Change in Accounts Receivable | -0.49 | -3.62 | 1.33 | -3.8 | -10.53 | 0.81 |
Change in Inventory | - | - | - | - | -4.01 | -0.79 |
Change in Accounts Payable | 2.02 | -4.67 | -1.57 | 3.73 | 6.75 | 4.07 |
Change in Unearned Revenue | -7.77 | -3.87 | 8.72 | 2.95 | -2.67 | -4.5 |
Change in Income Taxes | - | - | - | - | 3.36 | -1.39 |
Change in Other Net Operating Assets | 1.92 | 4.35 | -5.27 | 8.44 | 12.14 | -0.2 |
Operating Cash Flow | -1.76 | -5.76 | -19.75 | -4.77 | 19.88 | 29.64 |
Operating Cash Flow Growth | - | - | - | - | -32.93% | -17.86% |
Investing Activities
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 |
Capital Expenditures | -20.02 | -17.11 | -56.46 | -92.06 | -136.71 | -73.18 |
Sale of Property, Plant & Equipment | 2.84 | 19.48 | 0.54 | - | - | 0.51 |
Cash Acquisitions | -0.24 | - | - | - | - | -26.53 |
Sale (Purchase) of Intangibles | -0.86 | -0.21 | -0.58 | -0.53 | -0.78 | -0.77 |
Investment in Securities | - | - | - | - | - | -2.01 |
Investing Cash Flow | -18.28 | 2.16 | -56.49 | -92.58 | -137.49 | -101.98 |
Financing Activities
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 |
Long-Term Debt Issued | - | - | 62.99 | 314.64 | 135.8 | 69 |
Long-Term Debt Repaid | - | -5 | -16.5 | -125.9 | -0.75 | -0.3 |
Net Debt Issued (Repaid) | -6 | -5 | 46.49 | 188.74 | 135.05 | 68.7 |
Issuance of Common Stock | - | 0.03 | 0.04 | - | 1.1 | 4.82 |
Repurchase of Common Stock | - | - | - | - | - | -0.39 |
Other Financing Activities | -0.76 | -0.42 | -2.04 | -9.9 | -4.14 | - |
Financing Cash Flow | -9.76 | -5.39 | 44.5 | 178.84 | 132.01 | 73.14 |
Net Cash Flow
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 |
Net Cash Flow | -29.8 | -8.99 | -31.74 | 81.48 | 14.39 | 0.79 |
Free Cash Flow
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 |
Free Cash Flow | -21.78 | -22.87 | -76.21 | -96.83 | -116.83 | -43.54 |
Free Cash Flow Growth | - | - | - | - | - | - |
Free Cash Flow Margin | -5.50% | -5.86% | -21.04% | -28.53% | -36.38% | -14.31% |
Free Cash Flow Per Share | -1.96 | -2.07 | -6.95 | -8.91 | -10.85 | -4.03 |
Levered Free Cash Flow | 133.19 | -21.02 | -55.4 | -90.51 | -113.7 | -44.29 |
Unlevered Free Cash Flow | 162.56 | 10.06 | -25.85 | -65.21 | -105.27 | -41.71 |
Additional Metrics
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 Interest Paid | 32.9 | 43.78 | 37.96 | 24.74 | 10.29 | 4.49 |
Cash Income Tax Paid | 10.74 | 5.65 | 7.65 | 4.93 | 3.88 | 8.83 |
Change in Working Capital | -4.32 | -7.81 | 3.22 | 11.32 | 5.04 | -2 |