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Jun 30, 2022
Tucows Q2 2022 Earnings Report
Tucows' financial performance was driven by growth in Ting Internet Services and Wavelo Platform Services, with consistent performance from Tucows Domain Services.
Key Takeaways
Tucows reported a strong second quarter with an 11% increase in revenue and a 21% increase in gross profit year over year. This growth was primarily driven by the Ting Internet Services and Wavelo Platform Services businesses. However, the company experienced a net loss due to accelerated build-out of the Ting fiber network.
Revenue increased by 11% year over year, reaching $83.1 million.
Gross profit increased by 21% year over year, reaching $22.1 million.
Net loss was $3.1 million, or $0.29 per share, compared to net income of $1.8 million, or $0.17 per share, in Q2 2021.
Adjusted EBITDA increased by 5% year over year, reaching $11.7 million.
Forward Guidance
Management expects continued growth in Ting Internet Services and Wavelo Platform Services.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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