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Jun 30, 2024
Tucows Q2 2024 Earnings Report
Tucows' second quarter performance was marked by revenue growth, increased gross profit, and reduced net loss.
Key Takeaways
Tucows reported a 5.2% increase in consolidated net revenue, a 15.4% increase in gross profit, and a significant reduction in net loss compared to the same quarter last year. Adjusted EBITDA also saw a substantial increase, driven by growth in Ting and Domains, and cost management across various segments.
Consolidated net revenue increased by 5.2% year-over-year to $89.4 million.
Gross profit increased by 15.4% year-over-year to $20.8 million, driven by Ting and Domains.
Net loss decreased to $18.6 million, or $1.70 per share, compared to a net loss of $31.0 million, or $2.86 per share, in the second quarter of 2023.
Adjusted EBITDA increased by 70% year-over-year to $9.2 million.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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