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Mar 31, 2023
Tucows Q1 2023 Earnings Report
Tucows' financial performance reflected resilience amidst macroeconomic uncertainty and strategic operational management.
Key Takeaways
Tucows reported a slight decrease in consolidated net revenue, offset by growth in Ting and Wavelo revenues. The company experienced a significant decrease in gross profit and a net loss due to increased network depreciation, impairment costs, and lower margin from the Domains business. Adjusted EBITDA also decreased due to reduced contributions from Ting and Wavelo.
Ting business saw a 21% increase in revenue year over year.
Wavelo experienced a 63% increase in revenue from last quarter due to accelerated subscriber migration.
Tucows Domains business stabilized in domains under management and transactions post-pandemic.
Cash flow from Wavelo and Tucows Domains was used to reduce syndicated debt.
Revenue by Segment
Forward Guidance
Management's pre-recorded audio commentary discussing the quarter and outlook for the Company will be posted to the Tucows website. Shareholders, analysts and prospective investors can submit questions to Tucows’ management via email. Management will post responses to questions in an audio recording and transcript to the Company’s website.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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