TCX on Nasdaq

Tucows

Logo: Tucows Inc., Public domain, via Wikimedia Commons4

Canadian internet services and telecommunications company

Tucows Inc. is an American–Canadian, publicly traded Internet services and telecommunications company headquartered in Toronto, Ontario, Canada, and incorporated in Pennsylvania, United States. The company is composed of three independent businesses: Tucows Domains, Ting Internet, and Wavelo. Tucows, which stands for "The Ultimate Collection Of Winsock Software", was founded in Flint, Michigan, in 1993 as a shareware and freeware software download site.3 It was founded by Scott Swedorski.1 Its shares trade on Nasdaq under the symbol TCX.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1993Founded1

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  • TickerTCX on Nasdaq1
  • IndustryServices-Computer Processing & Data Preparation1
  • HeadquartersToronto1
  • Founded inFlint1
  • Websitewww.tucows.com
  • Legal formbusiness corporation1
  • Listed onNasdaq (TCX), Toronto Stock Exchange (TC)1
  • Incorporated inPA5
  • Business address96 Mowat Avenue, Toronto, A6 M6K 3M15
  • Filer categoryAccelerated filer5
Tucows-visit-20120208-1 (6905787971)
Photo: Roland Tanglao from Vancouver, Canada, CC BY 2.0, via Wikimedia Commons8

Tucows Inc. is an American–Canadian, publicly traded Internet services and telecommunications company headquartered in Toronto, Ontario, Canada, and incorporated in Pennsylvania, United States. The company is composed of three independent businesses: Tucows Domains, Ting Internet, and Wavelo.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

24.1%Gross margin9
-6.0%Operating margin9
-19.4%Net margin9
7.7%Revenue growth, 20259
-$22.9MFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Domain Name Services brought in 41% of the revenue Tucows broke down this way in fiscal 2025.

  1. Domain Name Services$267.1M941%up 5% from 2024
  2. Tucows Domains$267.1M941%up 5% from 2024
  3. Ting$68.2M910%up 14% from 2024
  4. Wavelo$47.6M97%up 19% from 2024
Business segments by year
Business segments202320242025
Domain Name Services$242.1M$254.6M$267.1M
Tucows Domains$242.1M$254.6M$267.1M
Ting$50.9M$59.7M$68.2M
Wavelo$38.7M$39.9M$47.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue76¢$296.3M
  • Research and development5¢$17.8M
  • Other costs17¢$67.6M
  • Income tax2¢$8.5M

Out of $390.3M in revenue.9 The company lost money this year.

Financial statements

Revenue101112139$390.3M in 2025+16% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $337.1M$337.1M20192020: $311.2M$311.2M2020−8%2021: $304.3M$304.3M2021−2%2022: $321.1M$321.1M2022+6%2023: $339.3M$339.3M2023+6%2024: $362.3M$362.3M2024+7%2025: $390.3M$390.3M2025+8%
Gross profit101112139$94.0M in 2025−7% since 2019
0$50.0M$100.0M$150.0M2019: $100.8M$100.8M20192020: $85.5M$85.5M2020−15%2021: $78.3M$78.3M2021−8%2022: $78.2M$78.2M2022−0%2023: $66.7M$66.7M2023−15%2024: $83.0M$83.0M2024+25%2025: $94.0M$94.0M2025+13%
Operating income101112139-$23.5M in 2025
-$75.0M-$50.0M-$25.0M0$25.0M$50.0M2019: $29.3M$29.3M20192020: $6.9M$6.9M2020−76%2021: -$7.8M-$7.8M20212022: -$31.7M-$31.7M2022+307%2023: -$63.7M-$63.7M2023+101%2024: -$65.0M-$65.0M2024+2%2025: -$23.5M-$23.5M2025−64%
Net income101112139-$75.8M in 2025
-$150.0M-$100.0M-$50.0M0$50.0M2019: $15.4M$15.4M20192020: $5.8M$5.8M2020−62%2021: $3.4M$3.4M2021−42%2022: -$27.6M-$27.6M20222023: -$96.2M-$96.2M2023+249%2024: -$109.9M-$109.9M2024+14%2025: -$75.8M-$75.8M2025−31%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Net Revenues$390.3M$362.3M$339.3M
Direct cost of revenues$230.6M$209.7M$202.3M
Network, other costs$23.0M$28.2M$33.0M
Network, depreciation and amortization$42.7M$41.3M$37.4M
Total cost of revenues$296.3M$279.2M$272.7M
Gross profit$94.0M$83.0M$66.7M
Sales and marketing$48.4M$59.4M$67.8M
Technical operations and development$17.8M$18.6M$19.2M
General and administrative$42.9M$37.1M$33.4M
Gain on disposition of property and equipment-$5.9M$0$0
Depreciation and amortization$3.5M$4.3M$9.9M
Charges$0$11.0M$0
Impairment of property and equipment$10.7M$17.7M$0
Total expenses$117.4M$148.0M$130.3M
Loss from operations-$23.5M-$65.0M-$63.7M
Interest expense, net-$55.3M-$51.3M-$41.8M
Loss on debt extinguishment$0$0-$14.7M
Other income, net$11.4M$14.4M$17.0M
Total other income (expenses)-$43.8M-$36.9M-$39.4M
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest-$67.3M-$101.9M-$103.1M
Provision (recovery) for income taxes$8.5M$8.0M-$6.9M
Net income (loss)-$75.8M-$109.9M-$96.2M
Unrealized income (loss) on hedging activities-$89.0K-$2.7M$1.8M
Net amount reclassified to earnings$996.0K-$11.0K-$886.0K
Other comprehensive income (loss) net of tax expense (recovery) of $288, ($858) and $299 for the years ended December 31, 2025, 2024 and 2023, respectively.$907.0K-$2.7M$944.0K
Comprehensive loss, for the period-$74.9M-$112.6M-$95.3M
Basic and diluted loss per common share (in dollars per share)-$6.85-$10.02-$8.85
Shares used in computing basic and diluted loss per common share (in shares)11.1M shares11.0M shares10.9M shares
Other Comprehensive Income (Loss), Tax$288.0K-$858.0K$299.0K

Compare Tucows with another company

Corporate structure

Tucows sits at the top of its group. 4 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Tucows

  • BlackRock Filed SCHEDULE 13G/A on Tucows, latest Jul 16, 2025 (6 filings since Feb 7, 2022)
  • Blacksheep Fund Management Ltd Filed SCHEDULE 13G/A on Tucows, latest May 15, 2025 (6 filings since Feb 14, 2022)
  • Kapitalanlagegesellschaft Mbh Monega Filed SCHEDULE 13G on Tucows, latest May 15, 2025
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Tucows, latest Jan 31, 2025 (3 filings since Feb 9, 2023)
  • Fuer Langfristige Investoren Tgv Investmentaktiengesellschaft Filed SCHEDULE 13G/A on Tucows, latest Jan 7, 2025 (5 filings since Jan 27, 2022)
  • Norman Rentrop Filed SCHEDULE 13G on Tucows, latest Jan 7, 2025
  • EdgePoint Investment Group Inc. Filed SC 13G/A on Tucows, latest Feb 14, 2024 (3 filings since Jul 11, 2022)
  • UNIVERSITY OF NOTRE DAME DU LAC Filed SC 13G/A on Tucows, latest Feb 11, 2022
  • Tucows Toronto
    • Easily Ltd Subsidiary · United Kingdom
    • ENom Subsidiary · Kirkland
    • Fiber Roads, LLC, a Delaware limited liability company, is a wholly owned subsidiary of Ting Subsidiary · Virginia, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Tucows reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$415.5M9 Dec 31, 2025$487.8M9 Dec 31, 2024−14.8%
Accumulated depreciation$133.6M9 Dec 31, 2025$156.7M9 Dec 31, 2024−14.8%
Property and equipment, net$282.0M9 Dec 31, 2025$331.0M9 Dec 31, 2024−14.8%
Operating-lease assets (leased space)$63.3M9 Dec 31, 2025$35.6M9 Dec 31, 2024+77.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$46.8M9 Dec 31, 2025$56.9M9 Dec 31, 2024−17.8%
Long-term investments$2.0M9 Dec 31, 2025$2.0M9 Dec 31, 20240%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$130.4M9 Dec 31, 2025$130.4M9 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$19.7M9 Dec 31, 2025$24.8M9 Dec 31, 2024−20.4%
Accumulated amortization$84.1M9 Dec 31, 2025$81.4M9 Dec 31, 2024+3.3%
Finite-lived intangibles, net$7.4M9 Dec 31, 2025$12.5M9 Dec 31, 2024−40.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$3.9M9 Dec 31, 2025$4.0M9 Dec 31, 2024−2.6%
Raw materials$1.9M9 Dec 31, 2025$2.1M9 Dec 31, 2024−6.2%
Finished goods$1.9M9 Dec 31, 2025$1.9M9 Dec 31, 2024+1.3%

Properties, in its own words

Our principal administrative, engineering, marketing and sales office is located in Toronto, Canada, and consists of approximately 27,000 square feet. We lease satellite offices in various cities across the U.S. as well as internationally in Germany and Denmark. The Toronto, Canada office supports all of our segments. Leased satellite offices across the U.S. support the Ting segment, while European offices support Tucows Domains.

The Company has acquired real property in Centennial, Colorado where it has constructed an office, warehouse and data center to support our local logistical operations and our North American colocation needs.

The rest of Item 2

Currently, substantially all of our computer and communications hardware is located at our facilities or at server hosting facilities in Toronto, Ontario; San Jose, California; Centennial, Colorado; Ashburn, Virginia; Charlottesville, Virginia; Durango, Colorado; and Moncure, North Carolina.

Recent Sales of Unregistered Securities

Item 2 of the 10-K filed Mar 12, 2026.18

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

The story

Founded by Scott Swedorski in 1993, in Flint.1

In the early 1990s, Tucows was hosted on university and public servers (much like Yahoo! and Google were in their early stages). Tucows' mission was to provide users with downloads of both freeware and trial versions of shareware. Internet Direct, owned and operated by John Nemanic, Bill Campbell, and Colin Campbell, acquired Tucows in 1996. STI Ventures acquired Tucows in 1999.

In 2000, Tucows acquired Linux Weekly News (which was then "unacquired" in 2002).

In 2001, Tucows was acquired by Infonautics, which then changed its name to Tucows, a business tactic called a "reverse takeover". On August 26, 2002, Tucows sold eLibrary and Encyclopedia.com, its search and reference services properties inherited from Infonautics, to Alacritude. The Internet Archive preserves a full copy of the Tucows Software Library, with thousands of software titles both in the latest versions, as well as in older versions not yet available through Tucows.

In 2004, Tucows acquired Boardtown Corporation, a billing software provider based in Starkville, Mississippi.

On August 19, 2005, Tucows went public, after completing a secondary offering, listing on the Toronto Stock Exchange as TC and the NASDAQ as TCX.

In January 2006, Tucows completed its acquisition of certain assets of Critical Path, an outsourced email services provider.

In June 2006 Tucows paid $18 million to purchase Mailbank.com Inc, a company that owns over 17,000 domain names for common surnames, such as smith.net and brown.org. Mailbank generates income from ads on its websites (from domain parking) and from customers who want e-mail accounts with their surname in the domain name.

On June 15, 2006, Noss disclosed that the portfolio of NetIdentity's domain names acquired by Tucows represents at least 68% of surnames in the United States and Europe, and that the cost of the acquisition was $18 million. On February 19, 2008, Tucows announced that they were launching a "Personal Names Service" using their portfolio of 39,000 domain names. "The launch of the Personal Names Service marks the complete integration of the surname assets we acquired with NetIdentity into our wholesale channel", said Elliot Noss, President and CEO of Tucows.

Read the full text

On August 26, 2006, Tucows won an eBay auction for the web calendar site Kiko.com. The company planned to roll Kiko's features into their existing email platform.

On July 27, 2007, Tucows acquired ItsYourDomain.com (IYD), another privately held ICANN-accredited wholesale registrar offering domain services through a network of over 2,500 affiliates with over 700,000 domains under management, paying US$10.35 million. ItsYourDomain.com managed 699,951 domains compared to Tucows's 5,919,987, at the time of the sale in July 2007 ItsYourDomain.com's monthly growth of 29,181 exceeded Tucows growth of 21,126.

By June 2008, Tucows had a total of three domain name registration services called ItsYourDomain (IYD), NetIdentity, and DomainDirect. Tucows decided to discontinue these three services, and merge them into one new domain name registration service, called Hover. Hover is a simple domain name registration service powered by Tucows Inc, that started in July 2008. All IYD, DomainDirect, and NetIdentity customers are fulfilled by Hover.com.

On November 6, 2008, Tucows announced that they were launching Butterscotch.com, an online video network with video tutorials to explain Internet technology, starting with 35 video tutorials and plans to reach 500 clips by Spring 2009. On October 14, 2011, Butterscotch.com producer Sean Carruthers stated production had been shut down.

In December 2014, Tucows launched RealNames, offering e-mail service using domain names acquired from Mailbank.com Inc.

On January 20, 2017, the company acquired eNom for $83.5 million, making Tucows the second-largest domain registrar in the world.

The company announced in January 2021 it was shuttering its Downloads business, as it was no longer essential to the rest of the company's business, but had transferred all of its assets and content to the Internet Archive prior to its closure.

From Wikipedia’s article on Tucows, shared under CC BY-SA 4.0.6

Leadership

Who has led Tucows, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (29)

Products and brands

Business lines

In July 2008, Tucows rebranded its wholesale services as "Open SRS".

As of July 2023, Tucows is the third-largest accredited registrar in the world.

Domain portfolio management

Tucows has three sources of income from its domain portfolio: 1) Advertising from pages of domains within their domain name portfolio; 2) Sales of domains from their portfolio, which is constantly being replenished; 3) Auction of the steady stream of thousands of domain names that expire every day and become available for resale.

On November 14, 2007, Tucows disclosed that they offer pay-per-click advertising on the pages of domains within their domain name portfolio. When a user types one of these domain names into the address of the browser (direct navigation), they are presented with dynamically generated links which are pay-per-click advertising. Every time a user clicks on one of the links listed on a web page, it generates revenue for Tucows through its partnership with third parties who provide syndicated pay-per-click results.

Read the full text

On February 7, 2008, Tucows disclosed that it had switched from Google Ads to a new advertising partner in 2007, which led to a one-third increase in its revenue.

On May 7, 2008, Tucows announced it put a process in place for the regular sale of direct navigation names. These domain names would come from names that expire each month from customers who decide they no longer want the domain names and that Tucows is able to select the ones they want to keep from these domain names.

Tucows announced on June 12, 2008, that they have reached an agreement with Afternic to auction Tucows’ large daily inventory of expired domain names. "We have over eight million domains under management and thousands expiring every day, so this deal provides us with a great way to share revenue with our resellers while participating in Afternic’s popular secondary domain name marketplace”, said Bill Sweetman, General Manager of Tucows Domain Portfolio. Tucows will share 10% of the gross sale price with the reseller for the sale of expired domains that were originally registered through the reseller. Revenue will be shared automatically without the reseller having to take any additional action. Tucows chose Afternic as a partner even though SnapNames with Register.com and NameJet with NetSol/eNom are the dominant players in expired domains.

On October 29, 2008, Tucows announced that it would begin direct sales from their inventory of premium domain names under the brand name of Yummy Names. The service was created especially for marketers to obtain a high-quality domain name from Tucows inventory. Customers have the option of purchasing a premium domain name outright or leasing the name. In 2009 one of Tucows' subsidiaries, Buydomains Holdings, sold another premium domain name for a record $50,000 for Myhomepage.com.

On February 20, 2008, Tucows announced a portfolio of over 1,000 domain names that have the high potential value such as "Jewellers.com", "Actresses.com", "BasketballPlayers.com", and "ProjectManagers.com".

In February 2008, Tucows successfully defended against an arbitration proceeding over Batchelor.com, which it had acquired as part of its NetIdentity purchase. The complaint had been filed by Ken Batchelor Cadillac Company, a car dealership. A National Arbitration Forum panel determined that the dealership had not established rights in the mark "Batchelor". In fact, Tucows has won all surname-related arbitration proceedings.

In 2007, Weidner Investment Services filed a complaint claiming that Weidner was its trademark or service mark and asked the National Arbitration Forum to order the transfer of Weidner.com from Tucows to Weidner. Tucows failed to respond, and the National Arbitration Forum ordered Tucows to transfer Weidner.com to Weidner Investment Services.

In January 2017, eNom was sold to Canadian domain seller Tucows for $83.5M Canadian.

Email services

Tucows provides millions of email boxes through their network of over 9,000 service providers. Customers of Tucows fully hosted email service are provided with POP3, IMAP, WAP and webmail access. Providers using Tucows Email Service have the option of using Tucows' spam and virus filtering with their current email infrastructure.

As part of the NetIdentity acquisition, Tucows had problems migrating retail customers' email from a third-party provider to Tucows in-house mail systems in September 2006.

Starting August 12, 2008, Tucows Email Service running on their servers designated as Cluster A experienced a multi-day outage lasting until August 15, 2008. On October 6, 2008, Cluster A again suffered another multi-day outage affecting at least 50% of users and at times all users. As of the afternoon of October 9, 2008, this cluster was still partially down ("degraded") preventing an unknown number of users from being able to retrieve email.

Retail services

Tucows sells services to consumers and small businesses and offers personalized email through net identity. Tucows also offers customers hosting and other services with NetIdentity. Tucows also expected to receive income for pay per click advertising revenue from domain parking the surnames.

Mobile phone services

In February 2012, Tucows launched a new mobile virtual network operator in the United States known as Ting, which resells voice and data services on the T-Mobile US network. As of July 2018, the service had approximately 286,000 subscribers.

In 2017, Tucows acquired Canadian MVNO Roam Mobility from Otono Networks. Roam Mobility ran for three years until it was shut down in June 2020, likely due to travel slowdown from the COVID-19 pandemic.

On August 3, 2020, Tucows announced that it would sell the Ting Mobile business to Dish Network (owner of Boost Mobile) and serve as its provider of backend services for its new wireless businesses.

As of 2022, Tucows no longer runs its mobile phone service and has shifted focus to software enablement for other providers.

Internet services

On December 15, 2014, Tucows announced its acquisition of the Charlottesville, Virginia ISP Blue Ridge InternetWorks, which was building a fiber to the home network. The services were brought under Tucows' Ting branding. They began offering symmetrical gigabit fiber internet without bandwidth caps. Since expanding the existing fiber network in Charlottesville, Ting Internet is currently in 12 markets with more on the way.

Software (SaaS)

In January 2022, Tucows launched Wavelo, a software as a service (SaaS) company that builds telecom billing and operations software for Mobile Virtual Network Operators and Fiber Internet Services. They have two products: MONOS (Mobile Network Operating System) currently used by Dish Network and ISOS (Internet Services Operating System) currently used by Ting Internet.

De-emphasis and divestment of business lines

De-emphasis of software downloads

Tucows maintained a download archive that included more than 30,000 software titles in its worldwide network of partner sites. Although some listing features now have fees, basic listing remains free. Tucows founder Scott Swedorski announced his resignation in November 2003. On March 10, 2006, Tucows Content division closed its satellite office located in Flint, Michigan, and relocated the remaining editorial functions to its corporate head office in Toronto. On February 7, 2008, Tucows disclosed that Tucows plans to de-emphasize the software download aspect of their business. The download service was finally closed down in January 2021.

Divestment of web hosting accounts

On May 6, 2008, Tucows announced that they are getting out of the web hosting business. As part of the divestment Tucows signed an agreement for Hostopia to purchase about 14,000 Domain Direct, NetIdentity and ItsYourDomain.com (IYD) customer web hosting accounts and would migrate the web hosting accounts to Hostopia's unified web service platform by July 2008.

Divestment of equity interest in Afilias

On November 5, 2008, Tucows announced that it was selling its entire 7.38% equity interest in Afilias for $7.4 million. Afilias is the registry operator of the.info and.aero TLDs, and the service provider of the.org generic top-level domain (gTLD),.mobi mobile phone TLD, and a provider of domain name registry services for several countries around the world, including.AG (Antigua and Barbuda),.BZ (Belize),.GI (Gibraltar),.HN (Honduras),.IN (India),.ME (Montenegro),.SC (the Seychelles), and.VC (St. Vincent and the Grenadines).

From Wikipedia’s article on Tucows, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Also owns

Subsidiaries (Exhibit 21)

  • Fiber Roads, LLC, a Delaware limited liability company, is a wholly owned subsidiary of Ting Virginia, LLC.7

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Acquisitions

  1. Mar 19, 2019Acquired Easily Ltd1

Former names

  • INFONAUTICS INCJun 7, 1996 to Aug 14, 20015

Timeline

  1. Jul 30, 20268-K Entered a material agreement; Ended a material agreement54
  2. Jun 4, 20268-K Shareholder vote55
  3. Feb 12, 20268-K Results of operations56
  4. Dec 5, 20258-K Debt or obligation accelerated57
  5. Sep 10, 20258-K Other events58
  6. May 22, 20258-K Shareholder vote59
  7. Apr 10, 20258-K Executive or director change60
  8. Mar 27, 20258-K Director nominations61
  9. Mar 13, 20258-K Results of operations62
  10. Feb 14, 20258-K Other events63
  11. Feb 14, 20258-K Results of operations64
  12. Feb 4, 20258-K Entered a material agreement; Regulation FD disclosure65
  13. Jun 23, 2022New chief executive Justin Reilly becomes CEO20
  14. Jun 23, 2022New chief executive David John Woroch becomes CEO19
  15. Feb 16, 2006New chief executive Elliot Noss becomes CEO1
  16. Aug 19, 2005Went public Listed on Toronto Stock Exchange1
  17. Apr 30, 1996Went public Listed on NASDAQ1
  18. 1993Founded Founded in Flint1

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/202666

When it reported results

  1. Feb 12, 2026Reported quarterly or annual results56
  2. Mar 13, 2025Reported quarterly or annual results62
  3. Feb 14, 2025Reported quarterly or annual results64
  4. Nov 12, 2024Reported quarterly or annual results67
  5. Aug 12, 2024Reported quarterly or annual results68
  6. Feb 26, 2024Reported quarterly or annual results69
  7. May 9, 2023Reported quarterly or annual results70
  8. Feb 10, 2023Reported quarterly or annual results71

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

258 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 40 major events, 145 insider forms, 26 large holders, 26 other. The latest 20:

  1. Aug 7, 2026S-8 EDGAR
  2. Aug 6, 202610-Q EDGAR
  3. Jul 30, 20268-K EDGAR
  4. Jun 9, 20264 EDGAR
  5. Jun 9, 20264 EDGAR
  6. Jun 9, 20264 EDGAR
  7. Jun 9, 20264 EDGAR
  8. Jun 9, 20264 EDGAR
  9. Jun 9, 20264 EDGAR
  10. Jun 9, 20264 EDGAR
  11. Jun 4, 20268-K EDGAR
  12. May 7, 202610-Q EDGAR
  13. Apr 23, 2026ARS EDGAR
  14. Apr 23, 2026DEF 14A EDGAR
  15. Apr 22, 2026DEFC14A EDGAR
  16. Mar 12, 202610-K EDGAR
  17. Feb 13, 20265 EDGAR
  18. Feb 13, 20265 EDGAR
  19. Feb 12, 20268-K EDGAR
  20. Jan 12, 20264 EDGAR

The 258 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

78 open-market trades by officers, directors and large owners since October 2021: 4 buys and 74 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 17, 2025NOSS ELLIOTDirectorSale500$22.52$11.3KForm 4
Jul 11, 2025NOSS ELLIOTDirectorSale700$22.86$16.0KForm 4
Jul 10, 2025NOSS ELLIOTDirectorSale2,000$21.87$43.7KForm 4
Jul 9, 2025NOSS ELLIOTDirectorSale500$21.21$10.6KForm 4
Jul 8, 2025NOSS ELLIOTDirectorSale2,500$20.81$52.0KForm 4
Jul 7, 2025NOSS ELLIOTDirectorSale2,600$20.51$53.3KForm 4
Jul 2, 2025NOSS ELLIOTDirectorSale3,200$20.44$65.4KForm 4
May 15, 2025NOSS ELLIOTDirectorSale3,000$17.75$53.2KForm 4
May 14, 2025NOSS ELLIOTDirectorSale500$17.35$8.7KForm 4
May 9, 2025NOSS ELLIOTDirectorSale100$17.69$1.8KForm 4
May 8, 2025NOSS ELLIOTDirectorSale1,600$17.30$27.7KForm 4
May 7, 2025NOSS ELLIOTDirectorSale700$16.39$11.5KForm 4
May 6, 2025NOSS ELLIOTDirectorSale700$16.32$11.4KForm 4
May 5, 2025NOSS ELLIOTDirectorSale800$16.21$13.0KForm 4
Apr 24, 2025NOSS ELLIOTDirectorSale500$17.06$8.5KForm 4
Apr 23, 2025NOSS ELLIOTDirectorSale500$16.58$8.3KForm 4
Apr 22, 2025NOSS ELLIOTDirectorSale500$16.37$8.2KForm 4
Apr 17, 2025NOSS ELLIOTDirectorSale1,000$16.18$16.2KForm 4
Apr 14, 2025NOSS ELLIOTDirectorSale1,000$16.24$16.2KForm 4
Apr 11, 2025NOSS ELLIOTDirectorSale1,000$15.56$15.6KForm 4

All 78 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • BlackRockSCHEDULE 13G/A, 6 filings Feb 7, 2022 to Jul 16, 202572
  • Blacksheep Fund Management LtdSCHEDULE 13G/A, 6 filings Feb 14, 2022 to May 15, 202573
  • Kapitalanlagegesellschaft Mbh MonegaSCHEDULE 13G, 1 filing May 15, 202574
  • VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Feb 9, 2023 to Jan 31, 202575
  • Fuer Langfristige Investoren Tgv InvestmentaktiengesellschaftSCHEDULE 13G/A, 5 filings Jan 27, 2022 to Jan 7, 202576
  • Norman RentropSCHEDULE 13G, 1 filing Jan 7, 202577
  • EdgePoint Investment Group Inc.SC 13G/A, 3 filings Jul 11, 2022 to Feb 14, 202478
  • Of Notre Dame Du Lac UniversitySC 13G/A, 1 filing Feb 11, 202279

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Elliot Noss$411.0K$3.1M80
2025David Woroch$322.4K$785.3K80
2025Ivan Ivanov$406.0K$767.1K80
2025Justin Reilly$560.8K$644.7K80
2025Bret Fausett$350.0K$529.5K80
2024Chief Legal Officerand$350.0K$677.0K80
2024Chief Executive Officer,$292.1K$594.8K80
2024Chief Financial Officerand$166.7K$583.4K80
2023Wavelo$581.1K$937.7K80
2023Vice PresidentRegulatory Affairs$350.0K$574.3K80
2023Tucows Inc. and Tucows Domains$296.5K$523.3K80

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 69. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
EdgePoint Investment Group Inc.2,118,575$28.7M0.2%No change
Blacksheep Fund Management Ltd1,091,985$14.7M4.8%No change
BlackRock, Inc.561,950$7.6M0.0%+45,787
Universal- Beteiligungs- und Servicegesellschaft mbH545,873$7.4M0.0%+12,000
Vanguard Capital Management LLC351,800$4.7M0.0%−9,444
Geode Capital Management, LLC197,896$2.7M0.0%−654
State Street Corp186,518$2.5M0.0%+2,034
Baader Bank Aktiengesellschaft163,200$2.2M0.2%−70
Axxion S.A.139,110$1.9M0.1%New
Renaissance Technologies LLC128,951$1.7M0.0%−6,900
Russell Investments Group, Ltd.114,654$1.5M0.0%+2,264
Charles Schwab Investment Management Inc72,693$979.2K0.0%+2,033
Quantinno Capital Management LP72,692$979.2K0.0%+52,825
Blackhawk Capital Partners, LLC63,478$855.0K0.3%+1,400
Northern Trust Corp60,475$814.6K0.0%−3,752
Vanguard Fiduciary Trust Co56,138$756.2K0.0%+754
Vanguard Portfolio Management LLC47,021$633.4K0.0%+7,813
D. E. Shaw & Co., Inc.46,334$624.1K0.0%+9,426
Aqr Capital Management LLC45,636$614.7K0.0%+32,176
Morgan Stanley38,572$519.6K0.0%+14,967
K.J. Harrison & Partners Inc31,671$426.6K0.1%−3,000
Goldman Sachs Group Inc21,162$285.1K0.0%−7,243
Bank of New York Mellon Corp19,947$268.7K0.0%+20
Connor, Clark & Lunn Investment Management Ltd.19,500$264.1K0.0%−500
Dimensional Fund Advisors LP17,536$236.2K0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Tucows is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTUCOWS INC /PA/2
  • CIK0000909494
  • Employer ID (EIN)23-270736618
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inPennsylvania18
  • Fiscal year endsDecember 312
  • Industry code (SIC)7374 Services-Computer Processing & Data Preparation2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address96 Mowat Avenue, Toronto, A6 M6K 3M12
  • Phone41653854782
  • Shares outstanding11,182,112 as of Aug 5, 202615
  • Public float$132.2M as of Jun 30, 202518
  • AuditorDeloitte LLP, Toronto, Canada PCAOB ID 1208; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceJun 7, 19962
  • Filings1,447 in all: 4 (685), 8-K (213), 10-Q (92), SC 13G/A (58), 4/A (44), 3 (40), SC TO-I/A (32), DEF 14A (30)2
    All 52 form types

    10-K (28), 144 (23), SC 13G (20), UPLOAD (18), 5 (14), S-8 (14), CORRESP (13), SC 13D/A (12), SC TO-I (10), 8-K/A (9), SC TO-C (9), DEFA14A (8), 10-Q/A (7), SC 13D (7), 425 (6), 10-K/A (4), 3/A (4), 424B3 (4), SCHEDULE 13G/A (4), ARS (3), PRE 14A (3), S-3 (3), S-3/A (3), S-4/A (3), 10-K405 (2), 8-A12B (2), S-1/A (2), SCHEDULE 13G (2), 144/A (1), 25 (1), 424B1 (1), 5/A (1), 8-A12B/A (1), CERTAMX (1), CERTNAS (1), DEFC14A (1), DEFR14A (1), DEFS14A (1), EFFECT (1), NT 10-K (1), POS AM (1), REGDEX (1), S-1 (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Mar 12, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 23, 2026
    Latest 8-K (8-K) Jul 30, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, no par valueTCXNASDAQ

From the cover page of the 10-K filed Mar 12, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks Tucows names in Item 1A of its 10-K filed Mar 12, 2026: 29 risks under these headings, as written.18

  • RISKS RELATED TO OUR BUSINESS AND INDUSTRY
  • We operate in highly competitive and consolidating industries, which may impact our ability to grow and maintain profitability.
  • Our service offerings may not be successful if we are unable to maintain existing customer relationships or establish new customer relationships.
  • We may be limited in our ability to grow our service offerings and customer base within our businesses, unless we can continue to manage our vendor relationships and supply chain to obtain valuable products and service options to offer to our customers.
  • Adverse conditions in the U.S. and international markets could materially adversely affect our results of operations and financial condition.
  • Changes in Internet infrastructure, adoption, and navigation practices could impact our business.
  • The Company's success depends on our ability to adapt to technological advancements and evolving industry trends.
  • Our business depends on our strong brands. If we are not able to maintain and enhance our brands, our ability to expand our customer base will be impaired and our business and operating results will be harmed .
  • Our ability to successfully execute on the strategic process for Ting is critical to addressing its liquidity needs, and failure to do so on a timely basis could have a material adverse effect on the business.
  • Ting’s ability to continue as a going concern depends on significant changes to its operations or additional sources of liquidity.
  • If the Company is required to wind down or substantially reduce operations at Ting, it may incur costs, which could adversely affect the Company’s financial condition and results of operations.
  • RISKS RELATED TO OUR OPERATIONS AND INFRASTRUCTURE
The other 19 risks
  • We rely on third-party network operators, data centers, and service providers, and any disruptions to these systems could negatively impact our business.
  • We are subject to minimum purchase commitments with some partner network providers and mobile network operators.
  • Slower-than-expected subscriber growth and ongoing operating losses could impair Ting’s ability to meet its financial and operational obligations and limit its access to additional financing.
  • RISKS RELATED TO CYBERSECURITY, DATA PRIVACY, AND INTELLECTUAL PROPERTY
  • We face cybersecurity risks that could disrupt our business, damage our reputation, and result in financial and legal liabilities.
  • Evolving laws and regulations governing intellectual property and internet services may expose us to increased liability and compliance costs.
  • Data protection regulations may impose legal obligations on us that we cannot meet or that conflict with our ICANN contractual requirements.
  • Disputes involving intellectual property rights, domain name ownership, or cybersecurity incidents could be costly and adversely affect our business and results of operations.
  • RISKS RELATED TO FINANCIAL AND MACROECONOMIC CONDITIONS
  • The assertion of a Return Breach under Ting’s Unit Purchase Agreement could, if Generate exercises its contractual rights, adversely affect Ting’s liquidity and capital structure.
  • Our significant indebtedness and financing arrangements could adversely affect our ability to operate our business, pursue strategic initiatives, and meet our financial obligations.
  • The international nature of our businesses and operations expose us to additional risks that could harm our business, operating results, and growth strategy; including risks related to taxation and foreign currencies fluctuations.
  • Rising inflation and interest rates may adversely affect our businesses, financial condition, and operating results.
  • Macroeconomic, geopolitical, and market conditions may adversely affect our business, financial condition, and operating results.
  • RISKS RELATED TO REGULATORY AND LEGAL COMPLIANCE
  • Changes in government regulations may increase compliance costs and impact our business operations.
  • Unanticipated changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our operating results and financial condition.
  • We could be subject to changes in tax rates, the adoption of new U.S. or international tax legislation, or exposure to additional tax liabilities. This could discourage the registration or renewal of domain names.
  • Changes in ICANN policies, fees, and oversight may impact our domain registration business.
  • RISKS RELATED TO CAPITAL MARKETS
  • We cannot guarantee that our stock repurchase program will be fully consummated or that it will enhance long-term shareholder value.
  • RISKS RELATED TO ENVIRONMENTAL, SOCIAL, GOVERNANCE (ESG) FACTORS
  • Energy consumption from data centers and internet infrastructure may result in higher costs and increased regulatory scrutiny.
  • Our business and financial performance could be adversely impacted by climate change, environmental disruptions, and other unforeseen disasters or crises.

Legal proceedings

We are involved in various investigations, claims and lawsuits arising in the normal conduct of our business, none of which, individually or in the aggregate, in our opinion, will materially harm our business. We cannot assure you that we will prevail in any litigation. Regardless of the outcome, any litigation may require us to incur significant litigation expense and may result in significant diversion of management attention.

In addition, pursuant to Item 103(c)(3)(iii) of Regulation S-K under the Exchange Act, the Company is required to disclose certain information about environmental proceedings to which governmental authority is a party if the Company reasonably believes such proceedings may result in monetary sanctions, exclusive of interest and costs, above a stated threshold. The Company has elected to apply a threshold of $1 million for purposes of determining whether disclosure of any such proceedings is required.

The opening of Item 3, Legal Proceedings.18

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