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Sep 30, 2022
Tucows Q3 2022 Earnings Report
Tucows' financial performance remained stable with revenue increasing and losses reported due to investments in fiber network and operations.
Key Takeaways
Tucows reported a 2.8% increase in revenue to $78.1 million for Q3 2022. However, the company experienced a net loss of $8.0 million, or $0.74 per share, compared to a net income of $1.4 million, or $0.13 per share, in Q3 2021. The loss was attributed to the accelerated build of the Ting Internet Services fiber network, ramp up of operations, higher interest expenses, and higher depreciation.
Total revenue increased by 2.8% to $78.1 million.
Gross profit was effectively flat at $18.0 million.
Net loss was $8.0 million, or $0.74 per share, compared to net income of $1.4 million, or $0.13 per share, for the third quarter of 2021.
Adjusted EBITDA decreased 35% to $7.9 million.
Revenue by Segment
Forward Guidance
Tucows remains on track for end of year 2022 EBITDA guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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