TORONTO, August 6, 2026 – Tucows Inc. (NASDAQ:TCX, TSX:TC), a global internet services leader, today reported its unaudited financial results for the second quarter ended June 30, 2026. All figures are in U.S. dollars.
“We made measurable financial progress in the second quarter, with revenue and gross profit increasing both year over year and sequentially, Adjusted EBITDA improving from the first quarter, and the business generating positive operating cash flow,” said David Woroch, Chief Executive Officer of Tucows. “Ting was the principal driver of the improvements, supported by subscriber growth and construction activity, while Tucows Domains continued to deliver stable gross profit.”
Financial Results
Consolidated net revenue increased 2.1% year over year to $100.6 million in the second quarter of 2026 and improved 4.0% sequentially, driven by strong revenue growth at Ting.
Gross profit for the second quarter of 2026 increased 16.6% to $25.8 million from the second quarter of 2025, and improved 7% sequentially. Year-over-year gross profit expansion was largely driven by margin gains from Ting, as well as a decrease in network expenses. The sequential increase came from margin improvement in Ting and Tucows Domains.
Net loss for the second quarter was $20.5 million ($1.84 per share), compared with a net loss of $15.6 million ($1.41 per share) in Q2 2025. Adjusted net loss¹ was $17.5 million (adjusted EPS¹ of ($1.57)) in Q2 2026 versus $16.3 million (adjusted EPS¹ of $(1.47)) in Q2 2025.
Adjusted EBITDA1 for the first quarter of 2026 came down 2.2% to $12.3 million from the second quarter of 2025, and improved 5.4% sequentially. The Ting segment had strong Adjusted EBITDA performance both year over year and sequentially, which was offset by obligations associated with our legacy mobile business and investment in Wavelo’s sales and marketing.
We ended the second quarter of 2026 with cash and cash equivalents, and restricted cash and restricted cash equivalents of $60.2 million. This compares with $61.9 million at the end of the first quarter of 2026 and $68.6 million at the end of the second quarter of 2025.