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Dec 31, 2023
Tucows Q4 2023 Earnings Report
Tucows' financial performance saw revenue growth, offset by increased net losses due to investments in Ting Fiber network and higher interest expenses.
Key Takeaways
Tucows Inc. reported a 10.2% increase in consolidated net revenue for Q4 2023, reaching $87.0 million, driven by growth in Wavelo, Ting, and Domains. However, the company experienced a net loss of $23.4 million, or $2.14 per share, compared to a net loss of $13.4 million, or $1.25 per share, in Q4 2022. Adjusted EBITDA decreased by 62% to $2.6 million.
Consolidated revenue increased by 10.2% year over year to $87.0 million.
Net loss increased to $23.4 million, or $2.14 per share, due to investments in Ting Fiber network and higher interest expenses.
Gross profit increased by 4.8% to $17.8 million, driven by Wavelo, Ting, and Domains.
Adjusted EBITDA decreased by 62% to $2.6 million due to planned investments in Ting's operating capacity and customer base.
Forward Guidance
The company did not provide specific forward guidance, but they continue to make growth investments and direct cash flow to build the Ting and Wavelo businesses, while also managing their debt.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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