Tucows Reports Financial Results for Second Quarter, 2022
TORONTO, Aug 9, 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 second quarter ended June 30, 2022. All figures are in U.S. dollars.
“We had a strong second quarter, with revenue and gross profit up 11% and 21% year over year respectively, driven by strong growth in each of our Ting Internet Services (“Ting”) and Wavelo Platform Services (“Wavelo”) businesses, and another quarter of consistent performance from our Tucows Domain Services (“Tucows Domains”) business,” said Elliot Noss, President and Chief Executive Officer, Tucows Inc. “Adjusted EBITDA increased 5% in Q2 of 2022 compared to Q2 of 2021. The increase was fueled by growth in Wavelo, but offset by the continued Ting investment, from the acceleration of our build and operations of the Ting fiber network. We again achieved a new record for trailing 12-month capital expenditure for the Ting opportunity.”
Read the full news release here.