Tucows Q1 Revenue Rises 2% to $96.7M; Gross Profit Up 2.5%
TCX•Tucows reported Q1 net revenue of $96.7 million, a 2.0% increase year-over-year, and gross profit rose 2.5% to $24.1 million, driven by Ting and domain margin gains. Adjusted EBITDA declined 15% to $11.7 million, operating cash flow turned positive at $3.5 million, while net loss widened to $18.1 million.
1. Consolidated Financial Performance
In Q1 2026, Tucows achieved consolidated net revenue of $96.7 million, up 2.0% from $94.6 million. Gross profit increased 2.5% to $24.1 million, while net loss widened to $18.1 million from $15.1 million a year earlier. Adjusted EBITDA declined 15% to $11.7 million.
2. Segment Highlights
Ting Internet Services revenue jumped 18.8% to $19.4 million, driven by fiber and construction services. Tucows Domains delivered margin improvements that supported gross profit gains, while investments in Wavelo’s go-to-market efforts contributed to higher operating expenses.
3. Cash Position and Outlook
Operating cash flow turned positive at $3.5 million versus a $11.3 million use in Q1 2025. Tucows ended the quarter with $61.9 million in cash and restricted cash, and management emphasized disciplined execution, core business profitability and Ting’s strategic progress.
