Tucows Inc. (TCX) — Financial statements
Income statement, balance sheet, and cash flow for Tucows Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 390↑7.7% | 362↑6.8% | 339↑5.7% | 321↑5.5% | 304 | |
| Cost of Revenue | 300↑7.5% | 279↑21.2% | 230↓5.1% | 243↑7.5% | 226 | |
| Gross Profit | 90↑8.6% | 83↓23.7% | 109↑39.1% | 78↓0.1% | 78 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00↓100.0% | 19↑2894.7% | 0.62↓95.6% | 14↓0.9% | 14 | |
| General & Administrative Expenses | 43↑15.7% | 37↑11.0% | 33↑8.3% | 31↑37.9% | 22 | |
| Selling & Marketing Expenses | 48↓18.5% | 59↓12.4% | 68↑25.7% | 54↑36.6% | 39 | |
| SG&A Expenses | 91↓5.4% | 96↓4.7% | 101↑19.4% | 85↑37.1% | 62 | |
| Other Expenses | 14↓57.6% | 33↓53.4% | 71↑546.0% | 11↑10.3% | 10 | |
| Operating Expenses | 105↓28.9% | 148↓14.2% | 173↑57.0% | 110↑27.7% | 86 | |
| Total Costs & Expenses | 405↓5.1% | 427↑6.0% | 403↑14.2% | 353↑13.0% | 312 | |
| Operating Results | ||||||
| Operating Income | -15↑76.8% | -65↓2.1% | -64↓101.0% | -32↓307.3% | -8 | |
| Depreciation & Amortization | 240↑427.1% | 46↓2.2% | 47↑17.8% | 40↑41.4% | 28 | |
| EBITDA | 225↑12478.3% | -2↑85.1% | -12↓146.2% | 26↓33.8% | 40 | |
| EBIT | -15↑68.3% | -47↑19.4% | -59↓345.7% | -13↓211.0% | 12 | |
| Interest & Other Income | ||||||
| Net Interest Income | -55↓7.8% | -51↓22.8% | -42↓189.0% | -14↓213.1% | -5 | |
| Interest Income | 2↓39.6% | 3 | 0.00↓100.0% | 0.13 | 0.00 | |
| Interest Expense | 57↑5.0% | 54↑30.3% | 42↑186.3% | 15↑216.0% | 5 | |
| Non-Operating Income | 0.00↑100.0% | -18↓264.4% | -5↑73.9% | -18↑6.1% | -20 | |
| Other Income / Expenses | -52↓41.8% | -37↑6.5% | -39↓1117.5% | 4↓74.2% | 15 | |
| Income Before Tax | -67↑33.9% | -102↑1.2% | -103↓270.9% | -28↓482.2% | 7 | |
| Income Tax Expense | 9↑6.5% | 8↑216.2% | -7↓3067.3% | -0.22↓105.6% | 4 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | -76↑31.0% | -110↓14.2% | -96↓248.9% | -28↓919.6% | 3 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | -76↑31.0% | -110↓14.2% | -96↓248.9% | -28↓919.6% | 3 | |
| Bottom-Line Net Income | -76↑31.0% | -110↓14.2% | -96↓248.9% | -28↓919.6% | 3 | |
| EPS (Basic) | -6.85↑31.6% | -10.02↓13.2% | -8.85↓245.7% | -2.56↓900.0% | 0.32 | |
| EPS (Diluted) | -6.85↑31.6% | -10.02↓13.2% | -8.85↓245.7% | -2.56↓925.8% | 0.31 | |
| Weighted Average Shares | 11↑0.9% | 11↑1.0% | 11↑0.9% | 11↑1.0% | 11 | |
| Weighted Average Diluted Shares | 11↑0.9% | 11↑1.0% | 11↑0.9% | 11↓0.4% | 11 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.