Tucows Announces Leadership Succession Following Strong Q3 Results
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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Key Stock Updates for Caterpillar, Shopify, and Qualcomm
Caterpillar Inc. (CAT): Caterpillar's shares have outperformed the industry, with a significant backlog supporting growth despite earnings declines due to tariffs. The company anticipates a $1.6-$1.75 billion impact from tariffs in 2025 but expects growth from increased construction activities and commodity demand.
Shopify Inc. (SHOP): Shopify's stock has risen significantly, driven by an expanding merchant base and new AI-driven tools. However, the company faces challenges with gross margin pressure and higher operating expenses, which may impact profitability in the near term.
Qualcomm Inc. (QCOM): Qualcomm's shares have seen moderate growth, bolstered by advancements in AI capabilities and a strong automotive business. Nonetheless, competition in the mobile chipset market and trade tensions may hinder future profit potential.
Micro-cap Stocks: Waterstone Financial and Tucows have shown strong performance relative to their industries, with Waterstone benefiting from improved net interest margins and Tucows leveraging high-margin services. Both companies face challenges, including rising loan stress for Waterstone and operational risks for Tucows.
Tucows Sees Reduced Year-over-Year Loss and Strong EBITDA Growth in Q3
Stock Performance: Tucows Inc. (TCX) shares rose 15.1% following their Q3 2025 results, significantly outperforming the S&P 500, which declined by 5.4% during the same period.
Financial Highlights: The company reported a 6.8% increase in consolidated net revenues to $98.6 million and a 9% rise in gross profit to $24.2 million, with adjusted EBITDA jumping 53% year-over-year to $13.3 million.
Operational Insights: Tucows’ Domains and Wavelo Services were key revenue drivers, with Domains revenues increasing by 5% and Wavelo Services growing nearly 18%, while Ting Internet Services also saw an 11% revenue increase.
Leadership Transition and Strategic Review: David Woroch was appointed as the new CEO, succeeding Elliot Noss, and the company is exploring options for Ting Internet Services, including a potential sale, to focus on its capital-light business models.
