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Tucows Reports Q3 Revenue of $100M, Up 1.4% YoY
Reports Q3 revenue $100M, up 1.4% year-over-year. "Adjusted EBITDA and gross profit grew year over year, and we remain on track for our 2026 guidance," said CEO David Woroch. "We also retired the Ting preferred units valued at $149.3M , and repaid $6M on our syndicated loan facility. After quarter end, we agreed to assign Ting's Colorado Springs lease, which is expected to release Tucows' parent guaranty in the spring. Each of these steps makes the business simpler and more flexible than it was a quarter ago."
Tucows' Subsidiary Ting Fiber Transfers Dark Fiber Lease in Colorado Springs
Tucows' indirect wholly owned subsidiary Ting Fiber has entered into agreements to transfer its dark fiber network lease in Colorado Springs. The transfer is expected to close on March 31, 2027, subject to customary closing conditions. Tucows' related parent guaranty is expected to terminate by the end of April 2027, following closing and satisfaction of certain post-closing obligations. Ting will continue to serve its Colorado Springs customers through the transition, which will be completed no later than June 30, 2027.
Tucows Q1 Revenue Grows to $96.7M
Reports Q1 revenue $96.7M vs. $94.6M last year. "Our Q1 results reflect steady execution across the business, with consolidated revenue and gross profit increasing year over year, driven by strong growth at Ting and continued margin gains in Tucows Domains," said David Woroch, CEO. "We delivered positive cash flow this quarter, even with Adjusted EBITDA that was impacted by legacy mobile obligations and continued investment in Wavelo's go-to-market efforts. Overall, we remain focused on disciplined execution, strengthening the profitability of our core businesses, and continuing to move Ting's strategic process forward."
Tucows Approves Stock Buyback Program Up to $40M
Tucows approved a stock buyback program to repurchase up to $40M of its common stock in the open market. The new $40M buyback program will commence February 13, 2026, and will terminate on or before February 12, 2027. The previous $40M buyback program, which commenced February 14, 2025, has been terminated. The purchase will be funded from available working capital and existing credit facilities. As of February 12, Tucows had 11,124,591 common shares outstanding.
Tucows names David Woroch as its new CEO
Tucows appointed long-time Tucows executive David Woroch as President and CEO, succeeding Elliot Noss. After a 25-year tenure as President and CEO, Elliot Noss will be stepping down as CEO of Tucows and transitioning to a continuing role as a member of the Board of Directors and consultant to the company's Ting Internet business. The Board has appointed David Woroch, a 25-year Tucows veteran and current CEO of Tucows Domains, as President and CEO of Tucows. As part of the transition, Woroch will remain as the CEO of Tucows Domains, and Ivan Ivanov, Tucows CFO, will also serve as CEO of Ting Internet. Tucows has initiated a process to explore strategic options for its Ting Internet business and has engaged a financial advisor. Elliot Noss will continue to support this process as a consultant.
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