Tucows Reports Financial Results for First Quarter, 2022
TORONTO, March 5, 2022 – Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, today reported its financial results for the fourth quarter ended March 31, 2022. All figures are in U.S. dollars.
“The first quarter was a very solid start to 2022, with revenue and gross profit up 14% and 22% year-over-year, respectively, driven by strong growth in each of our Ting Internet Services (“Ting”) and Wavelo Platform Services (“Wavelo”) businesses, as our Tucows Domain Services (“Tucows Domains”) business delivered another quarter of consistent performance,” said Elliot Noss, President and Chief Executive Officer, Tucows Inc. “Adjusted EBITDA decreased 11% from the first quarter last year as we continued to accelerate the build of our Fiber network and ramp up of operations. We achieved a new record for trailing 12-month capital expenditure for the Ting opportunity.”
Read the full news release here.