Tucows Inc.
TCX · Price history
Price at last available close
$10.29
+$0.70 (+7.25%) 1M
2026-10-27
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Company & revenue
About Tucows Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Tucows Inc. is an international technology company that delivers a broad spectrum of internet-related services, including network connectivity, domain name registration, email solutions, and mobile communication, serving customers across Canada, the United States, and Europe. Its operations are strategically structured into three distinct divisions: Fiber Internet Services, Mobile Services, and Domain Services. The Fiber Internet Services unit is dedicated to providing high-speed, fixed internet access to both individual consumers and small businesses, primarily channeled through its Ting platform.
How they make money
Tucows operates as a parent company providing shared services across three primary business units: Ting, which provides fixed fiber Internet access; Wavelo, which offers BSS/OSS software platforms for telecommunications operators; and Tucows Domains, which provides domain registration and value-added services. The company generates revenue through subscription fees for internet access, licensing and support fees for its software platforms, and transaction-based fees for domain registrations and related digital services.
Products & services
Tucows provides fiber-to-the-premises internet access (Ting), telecommunications billing and operations support software (Wavelo), and domain name registration and management services (Tucows Domains).
Brands & revenue mix
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Disclosed major customers
- EchoStarSource
Customer concentration
For the year ended December 31, 2025, one customer, EchoStar, accounted for 11.7% of total revenue.
Suppliers, materials & equipment
No supplier relationships were confirmed in the sources reviewed. This does not mean the company has no suppliers.
Risks
- Operating in highly competitive and consolidating industriesSource
Sources
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
20
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
29
Poor
Financial Strength
14
Business Quality / Moat
53
Management
33
Growth Quality
25
Risk / Durability
16
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
14
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
20/100
Building Historical Record
Model Score 20/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
No strong positive signal is being highlighted from the currently available summary data.
- •Severe debt stress
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for TCX
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can TCX maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •How long can TCX fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Is TCX's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What specifically needs to improve for TCX to reach sustainable profitability?
- •What future growth or profitability would be needed to justify TCX's current valuation?
Essential Investment Snapshot
Wall Street Score
20
Opportunity Score
14
Market Cap
$115.0M
P/E Ratio
-1.5
EPS
$-7.53
52-Week High
$25.17
52-Week Low
$8.45
Beta
0.92
Shares Outstanding
11.1M
Total Revenue
$394.4M
Total Debt
$712.2M
Dividend
No current dividend
Liquidation Value / Share
$-18.14
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Neutral / mixed momentum
Extreme movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for TCX
Detected from reported data — verify before acting.Severe debt stress
Negative shareholder equity • Total debt is at least one year of revenue • Interest coverage is below 2x • Free cash flow is negative • Cash covers less than 20% of total debt
Community Sentiment
0 active · 0 total callsNo personal call yet on TCX.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
Potential downside factors
- −Debt risk (severe): Negative shareholder equity.
- −Total debt is at least one year of revenue.
- −Interest coverage is below 2x.
- −Free cash flow is negative.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
20
Oct 1, 2026
Change
-0.1
points
Current Score
20
Oct 22, 2026
Category Changes
TCX decreased 0.1 points because some fundamentals weakened.
Projected Score
Projected Score
18
Projected Change
-2.2 points
Preliminary comparable-period financial changes suggest decline of approximately 2.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$10.29
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $394.4M | $390.3M | $362.3M | $339.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $296.2M | $300.1M | $279.2M | $230.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $98.2M | $90.2M | $83.0M | $108.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $13.5M | $17.8M | $18.6M | $622K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $97.0M | $91.3M | $96.5M | $101.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $117.8M | $105.2M | $148.0M | $172.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $681K | $36.1M | -$1.8M | -$11.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | -$19.6M | -$15.1M | -$65.0M | -$63.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $29.8M | $57.2M | $54.4M | $41.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | -$74.0M | -$67.3M | -$101.9M | -$103.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $9.6M | $8.5M | $8.0M | -$6.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | -$83.6M | -$75.8M | -$109.9M | -$96.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $-7.53 | $-6.85 | $-10.02 | $-8.85 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 11.15M | 11.07M | 10.97M | 10.86M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 11.15M | 11.07M | 10.97M | 10.86M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$100.6M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$1.84
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+36.5%
Cash Change
-15.1%
Margin Change
-4.5 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Weakened
- Margins contracted
- Cash position declined
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth. Pressure indicators included cash levels, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 2.1%. EPS increased 30.5%. Cash declined 15.1%. Total debt increased 36.5%. Net income margin declined by 4.5 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Software - InfrastructureNews
Tucows Announces Timing for Q3 2026 Financial Results News Release and Management Commentary
Tucows Announces Agreement for Ting Fiber to Exit Colorado Springs
Tucows (NASDAQ:TCX) Share Price Crosses Below 200 Day Moving Average – Should You Sell?
TCX Q2 Loss Widens Y/Y Despite Revenue Growth & Strong Ting Gains
Rumor Mill · TCX
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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