Toronto – November 06, 2026 -- Tucows Inc. (NASDAQ: TCX) (TSX: TC) reported third-quarter 2026 adjusted EBITDA of $18.6 million, up 39.8% year over year and 51% from the prior quarter, driven mainly by a one-time re-rate of its mobile contract in the Corporate segment.
Gross profit rises 20.5% on non-recurring contract renegotiation
Consolidated net revenue increased 1.4% year over year to $100.0 million, with growth at Ting driving the gain. Gross profit climbed 20.5% to $29.1 million and improved 13% sequentially. Tucows attributed both gains primarily to the large, non-recurring re-rate from renegotiating the mobile contract, plus year-over-year growth at Ting.
Ting also posted strong adjusted EBITDA year over year and sequentially, but the Corporate segment's mobile contract re-rate was the main driver of the quarter's result.
Net loss narrows to $10.3 million from $23.0 million
Net loss for the quarter was $10.3 million, or $(0.92) per share, against a net loss of $23.0 million, or $(2.08) per share, in the third quarter of 2025. Adjusted net loss was $5.8 million, or $(0.52) per share, versus $15.8 million, or $(1.42) per share, a year earlier.
Cash falls to $41.0 million as Tucows retires $149.3 million in Ting preferred units
Cash and cash equivalents, plus restricted cash and restricted cash equivalents, ended the quarter at $41.0 million. That compares with $60.2 million at the end of the second quarter and $70.8 million at the end of the third quarter of 2025.
During the quarter, Tucows retired the Ting preferred units, valued at $149.3 million, and repaid $6 million on its syndicated loan facility. After quarter end, the company agreed to assign Ting's Colorado Springs lease. Tucows expects the assignment to release its parent guaranty in the spring.
President and CEO David Woroch said the company remains on track for its 2026 guidance and that these steps leave the business "simpler and more flexible than it was a quarter ago."
Management opens Q&A window through Nov. 12, with answers due Nov. 18
Tucows posted pre-recorded management commentary and a transcript on its investor website at 5:05 p.m. ET on Nov. 5. Shareholders, analysts and prospective investors can submit questions by email until Nov. 12. Management will publish audio and transcript responses at approximately 5 p.m. ET on Nov. 18.