Tucows Income Statement

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
Revenue	390.3	362.28	339.34	321.14	304.34
Revenue Growth (YoY)	7.74%	6.76%	5.67%	5.52%	-2.21%
Cost of Revenue	253.63	236.47	230.48	213.7	207.81
Gross Profit	136.68	125.81	108.86	107.44	96.53
Selling, General & Admin	91.26	96.45	101.21	84.78	61.84
Research & Development	17.81	18.63	19.22	14.19	14.31
Amortization of Goodwill & Intangibles	-	5.3	10.83	11.39	10.01
Operating Expenses	155.32	160.7	167.69	138.55	104.14
Operating Income	-18.64	-34.89	-58.83	-31.11	-7.62
Interest Expense	-55.27	-54.43	-46.26	-14.59	-4.62
Interest & Investment Income	-	3.16	4.49	0.13	-
Currency Exchange Gain (Loss)	-	-	-	-	0.28
Other Non Operating Income (Expenses)	11.45	0.44	-	-0.18	-0.37
EBT Excluding Unusual Items	-62.47	-85.73	-100.6	-45.74	-12.33
Merger & Restructuring Charges	-	-10.95	-	-	-
Gain (Loss) on Sale of Assets	5.88	13.98	17.03	18.05	19.8
Asset Writedown	-10.72	-19.17	-4.82	-0.09	-0.2
Other Unusual Items	-	-	-14.68	-	-
Pretax Income	-67.31	-101.87	-103.07	-27.79	7.27
Income Tax Expense	8.51	7.99	-6.87	-0.22	3.91
Net Income	-75.82	-109.86	-96.2	-27.57	3.36
Net Income to Common	-75.82	-109.86	-96.2	-27.57	3.36
Net Income Growth	-	-	-	-	-41.75%
Shares Outstanding (Basic)	11	11	11	11	11
Shares Outstanding (Diluted)	11	11	11	11	11
Shares Change (YoY)	0.90%	0.95%	0.88%	-0.45%	1.17%
EPS (Basic)	-6.85	-10.02	-8.85	-2.56	0.32
EPS (Diluted)	-6.85	-10.02	-8.85	-2.56	0.31
EPS Growth	-	-	-	-	-42.59%
Free Cash Flow	-22.87	-76.21	-96.83	-116.83	-43.54
Free Cash Flow Per Share	-2.07	-6.95	-8.91	-10.85	-4.03
Gross Margin	35.02%	34.73%	32.08%	33.46%	31.72%
Operating Margin	-4.78%	-9.63%	-17.34%	-9.69%	-2.50%
Profit Margin	-19.43%	-30.33%	-28.35%	-8.58%	1.10%
Free Cash Flow Margin	-5.86%	-21.04%	-28.53%	-36.38%	-14.31%
EBITDA	27.61	10.11	-12.19	8.47	20.38
EBITDA Margin	7.07%	2.79%	-3.59%	2.64%	6.70%
D&A For EBITDA	46.25	45	46.64	39.58	27.99
EBIT	-18.64	-34.89	-58.83	-31.11	-7.62
EBIT Margin	-4.78%	-9.63%	-17.34%	-9.69%	-2.50%
Effective Tax Rate	-	-	-	-	53.73%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q