Tucows Inc. filed its unaudited third-quarter 2026 financial results on November 5, 2026, reporting consolidated net revenue of $100.0 million and Adjusted EBITDA of $18.6 million for the three months ended September 30, 2026.

Key Highlights

  • Net revenue rose 1.4% year over year to $100.0 million in Q3 2026, driven by revenue growth at Ting, according to the filing.
  • Gross profit increased 20.5% to $29.1 million from Q3 2025, with both year-over-year and sequential expansion attributed primarily to a large, non-recurring re-rate from the renegotiation of the company's mobile contract within the Corporate segment.
  • Adjusted EBITDA rose 39.8% to $18.6 million from Q3 2025, and improved 51% sequentially, the company disclosed.
  • Net loss narrowed to $10.3 million (EPS of $(0.92)) in Q3 2026, compared with a net loss of $23.0 million (EPS of $(2.08)) in Q3 2025.
  • Ting preferred units valued at $149.3 million were retired and $6 million was repaid on the syndicated loan facility during the quarter, per the filing.
  • Cash and restricted cash ended the quarter at $41.0 million, down from $60.2 million at the end of Q2 2026 and $70.8 million at the end of Q3 2025.

Tucows Q3 2026 Segment and Balance Sheet Details

According to the filing, Tucows (NASDAQ:TCX) reported total net revenues of $99,975 thousand for the three months ended September 30, 2026, compared with $98,558 thousand in the same period of 2025. The Domains and Wavelo Services segment generated revenue of $75,633 thousand, while Ting Internet Services contributed $22,303 thousand, which included $18,021 thousand from Fiber Internet Services and $4,282 thousand from Construction Services. The Corporate and Other segment, which includes Mobile Services and Eliminations, reported revenue of $2,039 thousand.

The filing attributes gross profit expansion in Q3 2026 primarily to "a large, non-recurring re-rate from the renegotiation of our mobile contract within the Corporate segment," as well as year-over-year growth from Ting. For the nine months ended September 30, 2026, net revenues totaled $297,188 thousand, gross profit was $79,041 thousand, and Adjusted EBITDA was $42,518 thousand, compared with $291,630 thousand, $69,822 thousand, and $39,517 thousand, respectively, in the same prior-year period.

The company disclosed that after quarter end, it agreed to assign Ting's Colorado Springs lease, which is expected to release Tucows' parent guaranty in the spring. Net cash used in operating activities was $(4,615) thousand in Q3 2026, compared with net cash provided of $1,534 thousand in Q3 2025. The filing notes that the financial results are unaudited and that non-GAAP measures, including Adjusted EBITDA and Adjusted net loss, are reconciled to GAAP measures in the accompanying tables. The company's forward-looking statements, including references to 2026 guidance, are the company's own and are subject to its cautionary language.

What Was Disclosed

Tucows reported unaudited Q3 2026 results showing net revenue of approximately $100.0 million, a narrowed net loss of $10.3 million, Adjusted EBITDA of $18.6 million, retirement of $149.3 million in Ting preferred units, and ending cash of $41.0 million.