Q3 2025 Tucows Inc Earnings Call (Pre-recorded Q&A) Transcript
Key Points
- Tucows Inc (TCX) reported a 7% year-over-year increase in revenue for Q3 2025, continuing its top-line growth momentum.
- Gross profit expanded by 9% year-over-year, and adjusted EBITDA increased by 53% to $13.3 million in Q3.
- The company successfully paid down $2.5 million on its syndicated bank loan, marking a sixth straight quarterly decline in corporate net debt.
- Wavelo delivered double-digit year-over-year growth in revenue, gross margin, and adjusted EBITDA, reflecting continued subscriber growth.
- Ting's adjusted EBITDA showed a significant improvement, with a small loss of $880,000 in Q3, down from $5.1 million in Q3 2024.
- Ting's gross margin declined to $10.5 million from $11 million in Q3 of last year due to increased revenues in partner markets over owned markets.
- The retail segment of Tucows Domains posted only a modest revenue increase of 2% year-over-year, with a flat gross margin.
- Total domains under management and transaction volumes declined by 9% and 10% year-over-year, respectively, due to a wholesale customer migrating its portfolio in-house.
- Wavelo experienced a 6% decrease in revenue from the previous quarter, reflecting a seasonal slowdown.
- The company reported a GAAP net loss of $23 million for the quarter, with an adjusted net loss of $15.8 million.
Welcome to Tucows's third quarter 2025 management commentary. We have pre-recorded prepared remarks regarding the quarter and outlook for the company. Tucows's generated transcript of these remarks with relevant links is also available on the company's website. We will begin with opening remarks from Elliott Noss, President and CEO of Noss and Ting; followed by business remarks from David Woroch, CEO of Tucows and Domains; Justin Reilly, CEO of Wavelo.
Elliott Noss on Ting, Ivan Ivanov, Tucows CFO, who will discuss our financial results in detail, and we will finish with closing remarks from Elliott Noss. In lieu of a live question-and-answer period following these remarks. Shareholders, analysts, and prospective investors are invited to submit questions to Tucows's management.
Please submit questions via email to [email protected] until Thursday, November 13th. Management will either address your questions directly or provide a recorded audio response and transcript that will be posted to Tucows website on Tuesday, November 25th
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