TORONTO, ON — February 12, 2026 — Leads & Copy —
Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global internet services leader, has released its unaudited financial results for the fourth quarter and full year ended December 31, 2025.
The company reported an 8% increase in revenue for the full year 2025, reaching $390.3 million compared to $362.3 million in 2024. Gross profit rose 13% to $94.0 million, driven by improved economics at Wavelo, continued margin expansion in Domains, and reduced network expenses at Ting. Adjusted EBITDA for the year totaled $50.6 million, a 45% increase year-over-year, exceeding the company’s 2025 guidance by $3.6 million.
David Woroch, CEO of Tucows, stated that 2025 was a strong execution year for the company, with improved profitability across all businesses. He added that the company remains focused on strengthening the business through operational and capital efficiency initiatives, and with the ongoing Ting strategic process, they believe they are building a more resilient earnings profile and a stronger foundation for long-term value.
For the fourth quarter of 2025, consolidated net revenue increased 6.0% to $98.7 million from $93.1 million for the fourth quarter of 2024, driven by revenue gains from all three Tucows businesses. Gross profit for the fourth quarter of 2025 increased 14% to $24.1 million from $21.2 million from the fourth quarter of 2024. The increase in gross profit was driven by strong year-over-year margin gains from Wavelo and Tucows Domains, as well as a decrease in network expenses at Ting.
The net loss for the fourth quarter was $22.0 million ($1.98 per share), compared with a net loss of $42.5 million ($3.86 per share) in Q4 2024. Adjusted net loss was $19.2 million (adjusted EPS of ($1.73)) in Q4 2025 versus $15.8 million (adjusted EPS of $(1.43)) in Q4 2024. Adjusted EBITDA for the fourth quarter of 2025 came down 14% to $11.1 million from $12.8 million for the fourth quarter of 2024. The year-over-year difference was driven primarily by obligations associated with our legacy mobile business. The company ended the fourth quarter of 2025 with cash and cash equivalents, and restricted cash and restricted cash equivalents of $64.2 million, compared with $73.2 million at the end of the fourth quarter of 2024.
Tucows helps connect more people to the benefit of internet access through communications service technology, domain services, and fiber-optic internet infrastructure. Ting delivers fixed fiber Internet access with customer support. Wavelo is a telecommunications software suite for service providers that simplifies the management of mobile and internet network access; provisioning, billing and subscription; developer tools; and more. Tucows Domains manages over 21 million domain names and millions of value-added services through a global reseller network of web hosts and ISPs. Hover makes it easy for individuals and small businesses to manage their domain names and email addresses.
Ting delivers fixed fiber Internet access with outstanding customer support. Wavelo is a telecommunications software suite for service providers that simplifies the management of mobile and internet network access; provisioning, billing and subscription; developer tools; and more. Tucows Domains manages over 21 million domain names and millions of value-added services through a global reseller network of over 33,000 web hosts and ISPs. Hover makes it easy for individuals and small businesses to manage their domain names and email addresses.
Tucows, Ting, Wavelo, and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
Source: Tucows Inc.
