Tucows Announces Leadership Succession Following Strong Q3 Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 06 2025
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Should l Buy TCX?
Source: PRnewswire
Leadership Transition: Tucows Inc. has appointed David Woroch as the new President and CEO, succeeding Elliot Noss, who served for 25 years and will remain on the Board of Directors and as a consultant for Ting Internet.
Elliot Noss's Legacy: Noss transformed Tucows from a software download platform into a diversified technology company, advocating for an open internet and significantly impacting the company's culture and growth.
David Woroch's Experience: Woroch, a 25-year veteran of Tucows, has led Tucows Domains to become the world's largest wholesale domain registrar and is recognized for his strategic and executional skills in the technology sector.
Strategic Focus: Tucows is exploring strategic options for its Ting Internet business while maintaining leadership continuity, with Woroch continuing as CEO of Tucows Domains and Ivan Ivanov taking on the role of CEO for Ting Internet.
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Analyst Views on TCX
About TCX
Tucows Inc. is a global Internet service provider. Its segments include Ting, Wavelo and Tucows Domains. Ting segment provides retail consumers and small businesses with high-speed fixed Internet access in a number of towns and cities across the United States. Wavelo segment offers platform services which provide solutions to support Communication Service Providers, including subscription and billing management, network orchestration and provisioning, individual developer tools, and other professional services. The Tucows Domains segment includes wholesale and retail domain name registration services, and value-added services derived through its OpenSRS, eNom, Ascio, EPAG and Hover brands. Tucows Domains segment manages over 25 million domain names and millions of value-added services through a global reseller network of over 35,000 Web hosts and Internet service providers. Hover makes it easy for individuals and small businesses to manage their domain names and email addresses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Tucows Asset Sale Progressing Smoothly Amid Market Volatility
- Asset Sale Progress: Tucows is closely collaborating with financial advisors to ensure that the Ting asset sale process remains unaffected by external market volatility, aiming to achieve the best transaction outcome, which would enhance the company's liquidity and financial flexibility.
- Financial Priorities: The company's immediate focus is on generating consistent free cash flow and strengthening the balance sheet, with plans to enhance liquidity through the successful completion of the Ting divestiture and ongoing debt paydown to ensure future financial stability.
- Lower Wavelo EBITA: According to 2026 guidance, Wavelo's adjusted EBITA margin is expected to decrease year-over-year, primarily due to potential fee reductions resulting from different outcomes of the Ting process, while investments made in 2025 have fully annualized, increasing costs in 2026.
- Capital Allocation Framework: Tucows is developing a formal capital allocation framework to guide the balance between deleveraging, reinvestment, acquisitions, and share repurchases, ensuring sustainable growth under a conservative and deliberate capital allocation strategy.
See More
Tucows Reports Q4 Financial Results with Revenue Growth
- Financial Overview: Tucows reported a Q4 non-GAAP EPS of -$1.73, and while revenue grew by 6.0% year-over-year to $98.7 million, the negative earnings indicate significant financial pressure that could impact future investment decisions.
- Revenue Growth Analysis: Despite the revenue increase, Tucows faces severe financial challenges, as its debts may exceed the expected sale price of Ting, negatively affecting the company's capital structure and liquidity.
- Market Reaction: Investors reacted lukewarmly to Tucows' financial performance, with the negative EPS likely putting pressure on the stock price, further impacting the company's competitiveness and financing capabilities in the market.
- Future Outlook: Tucows plans to sell Ting to improve its financial situation, but if the sale price fails to cover its debts, it could have significant implications for the company's long-term strategy and operations.
See More
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- Revenue Growth: In 2025, Tucows reported an 8% increase in total revenue to $390.3 million, driven by contributions from all business segments, indicating robust market performance and boosting investor confidence.
- Gross Profit Improvement: Gross profit rose 13% to $93.9 million in 2025, primarily due to enhanced economics at Wavelo and continued margin expansion in Domains, showcasing the company's success in cost control and operational efficiency.
- Significant Adjusted EBITDA Increase: Adjusted EBITDA reached $50.6 million in 2025, up 45% year-over-year and exceeding guidance by $3.6 million, reflecting strong performance in Domains and Wavelo, further solidifying the company's financial foundation.
- Reduced Net Loss: The net loss for Q4 2025 was $22.0 million, a 48% decrease from $42.5 million in Q4 2024, with loss per share improving from $3.86 to $1.98, indicating positive progress in enhancing financial health.
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Tucows Approves $40 Million Stock Buyback Program
- Buyback Program Launch: Tucows' Board of Directors has approved a new stock buyback program to repurchase up to $40 million of its common stock from February 13, 2026, to February 12, 2027, aimed at enhancing shareholder value and boosting market confidence.
- Market Operation Details: The buyback will be conducted exclusively through the Nasdaq Capital Market, with purchases depending on available cash and market conditions, demonstrating the company's agile response to market dynamics.
- Previous Program Termination: Tucows has terminated its prior $40 million buyback program initiated on February 14, 2025, indicating a strategic adjustment in capital allocation aimed at optimizing shareholder returns.
- Transparent Funding Sources: The buyback will be funded through available working capital and existing credit facilities, ensuring sustainability and liquidity of funds while not intending to purchase shares from management or insiders, thus maintaining market integrity.
See More
Tucows Approves $40 Million Stock Buyback Program
- Buyback Program Initiation: Tucows' Board of Directors has approved a new stock buyback program to repurchase up to $40 million of common stock from February 13, 2026, to February 12, 2027, indicating the company's confidence in its stock value.
- Market Operation Details: The buyback will be conducted through the Nasdaq Capital Market, with purchases depending on market conditions and available cash, showcasing the company's strategic flexibility in responding to market changes.
- Previous Plan Termination: The prior $40 million buyback program, which commenced on February 14, 2025, has been terminated, reflecting the company's ability to dynamically adjust its capital allocation strategies.
- Transparent Funding Sources: The buyback will be funded from available working capital and existing credit facilities, ensuring prudent financial management while explicitly stating that shares will not be purchased from management or insiders.
See More
Tucows Reports Strong 2025 Financial Results with Improved Profitability
- Revenue Growth: In 2025, Tucows reported an 8% increase in total revenue to $390.3 million compared to 2024, with contributions from all business segments, indicating strong market performance and boosting investor confidence.
- Gross Profit Improvement: Gross profit rose 13% to $93.95 million in 2025, primarily driven by improved economics at Wavelo and continued margin expansion in Domains, demonstrating significant achievements in cost control and business optimization.
- Significant Adjusted EBITDA Increase: Adjusted EBITDA reached $50.6 million in 2025, up 45% year-over-year and exceeding guidance by $3.6 million, reflecting outstanding performance in Domains and Wavelo, which enhances future profitability prospects.
- Reduced Net Loss: The net loss for Q4 2025 was $22.03 million, a 48% decrease from $42.5 million in Q4 2024, indicating improvements in financial health and further strengthening market confidence in the company's long-term value.
See More
Tucows Asset Sale Progressing Smoothly Amid Market Volatility
- Asset Sale Progress: Tucows is closely collaborating with financial advisors to ensure that the Ting asset sale process remains unaffected by external market volatility, aiming to achieve the best transaction outcome, which would enhance the company's liquidity and financial flexibility.
- Financial Priorities: The company's immediate focus is on generating consistent free cash flow and strengthening the balance sheet, with plans to enhance liquidity through the successful completion of the Ting divestiture and ongoing debt paydown to ensure future financial stability.
- Lower Wavelo EBITA: According to 2026 guidance, Wavelo's adjusted EBITA margin is expected to decrease year-over-year, primarily due to potential fee reductions resulting from different outcomes of the Ting process, while investments made in 2025 have fully annualized, increasing costs in 2026.
- Capital Allocation Framework: Tucows is developing a formal capital allocation framework to guide the balance between deleveraging, reinvestment, acquisitions, and share repurchases, ensuring sustainable growth under a conservative and deliberate capital allocation strategy.
See More
Tucows Reports Q4 Financial Results with Revenue Growth
- Financial Overview: Tucows reported a Q4 non-GAAP EPS of -$1.73, and while revenue grew by 6.0% year-over-year to $98.7 million, the negative earnings indicate significant financial pressure that could impact future investment decisions.
- Revenue Growth Analysis: Despite the revenue increase, Tucows faces severe financial challenges, as its debts may exceed the expected sale price of Ting, negatively affecting the company's capital structure and liquidity.
- Market Reaction: Investors reacted lukewarmly to Tucows' financial performance, with the negative EPS likely putting pressure on the stock price, further impacting the company's competitiveness and financing capabilities in the market.
- Future Outlook: Tucows plans to sell Ting to improve its financial situation, but if the sale price fails to cover its debts, it could have significant implications for the company's long-term strategy and operations.
See More
Tucows Reports Improved Profitability in 2025 Financial Results
- Revenue Growth: In 2025, Tucows reported an 8% increase in total revenue to $390.3 million, driven by contributions from all business segments, indicating robust market performance and boosting investor confidence.
- Gross Profit Improvement: Gross profit rose 13% to $93.9 million in 2025, primarily due to enhanced economics at Wavelo and continued margin expansion in Domains, showcasing the company's success in cost control and operational efficiency.
- Significant Adjusted EBITDA Increase: Adjusted EBITDA reached $50.6 million in 2025, up 45% year-over-year and exceeding guidance by $3.6 million, reflecting strong performance in Domains and Wavelo, further solidifying the company's financial foundation.
- Reduced Net Loss: The net loss for Q4 2025 was $22.0 million, a 48% decrease from $42.5 million in Q4 2024, with loss per share improving from $3.86 to $1.98, indicating positive progress in enhancing financial health.
See More
Tucows Approves $40 Million Stock Buyback Program
- Buyback Program Launch: Tucows' Board of Directors has approved a new stock buyback program to repurchase up to $40 million of its common stock from February 13, 2026, to February 12, 2027, aimed at enhancing shareholder value and boosting market confidence.
- Market Operation Details: The buyback will be conducted exclusively through the Nasdaq Capital Market, with purchases depending on available cash and market conditions, demonstrating the company's agile response to market dynamics.
- Previous Program Termination: Tucows has terminated its prior $40 million buyback program initiated on February 14, 2025, indicating a strategic adjustment in capital allocation aimed at optimizing shareholder returns.
- Transparent Funding Sources: The buyback will be funded through available working capital and existing credit facilities, ensuring sustainability and liquidity of funds while not intending to purchase shares from management or insiders, thus maintaining market integrity.
See More
Tucows Approves $40 Million Stock Buyback Program
- Buyback Program Initiation: Tucows' Board of Directors has approved a new stock buyback program to repurchase up to $40 million of common stock from February 13, 2026, to February 12, 2027, indicating the company's confidence in its stock value.
- Market Operation Details: The buyback will be conducted through the Nasdaq Capital Market, with purchases depending on market conditions and available cash, showcasing the company's strategic flexibility in responding to market changes.
- Previous Plan Termination: The prior $40 million buyback program, which commenced on February 14, 2025, has been terminated, reflecting the company's ability to dynamically adjust its capital allocation strategies.
- Transparent Funding Sources: The buyback will be funded from available working capital and existing credit facilities, ensuring prudent financial management while explicitly stating that shares will not be purchased from management or insiders.
See More
Tucows Reports Strong 2025 Financial Results with Improved Profitability
- Revenue Growth: In 2025, Tucows reported an 8% increase in total revenue to $390.3 million compared to 2024, with contributions from all business segments, indicating strong market performance and boosting investor confidence.
- Gross Profit Improvement: Gross profit rose 13% to $93.95 million in 2025, primarily driven by improved economics at Wavelo and continued margin expansion in Domains, demonstrating significant achievements in cost control and business optimization.
- Significant Adjusted EBITDA Increase: Adjusted EBITDA reached $50.6 million in 2025, up 45% year-over-year and exceeding guidance by $3.6 million, reflecting outstanding performance in Domains and Wavelo, which enhances future profitability prospects.
- Reduced Net Loss: The net loss for Q4 2025 was $22.03 million, a 48% decrease from $42.5 million in Q4 2024, indicating improvements in financial health and further strengthening market confidence in the company's long-term value.
See More
