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Mar 31, 2022
Tucows Q1 2022 Earnings Report
Tucows' first quarter results demonstrated solid growth, driven by Ting Internet Services and Wavelo Platform Services.
Key Takeaways
Tucows reported a strong start to 2022 with a 14% increase in revenue and a 22% increase in gross profit compared to the first quarter of 2021. The growth was primarily driven by the Ting Internet Services and Wavelo Platform Services businesses. However, adjusted EBITDA decreased by 11% due to the accelerated build of the fiber network and ramp-up of operations.
Revenue increased by 14% year-over-year, reaching $81.1 million.
Gross profit increased by 22% year-over-year, reaching $21.2 million.
Net loss was $3.0 million, or $0.28 per share, compared to net income of $2.1 million, or $0.20 per share, for the first quarter of 2021.
Adjusted EBITDA decreased by 11% year-over-year to $11.3 million.
Forward Guidance
No forward guidance was provided in the release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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