Tucows Inc. (TCX) Financial Statements (2024 and earlier)

Company Profile

Business Address 96 MOWAT AVENUE
TORONTO, ON M6K 3M1
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 7374 - Computer Processing and Data Preparation and Processing Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments23,4969,1058,31120,39312,63718,049
Cash and cash equivalents23,4969,1058,31120,39312,63718,049
Receivables20,87518,05316,84216,36412,26015,380
Inventory, net of allowances, customer advances and progress billings7,2843,2771,8753,4573,7752,944
Inventory7,2843,2771,8753,4573,7752,944
Prepaid expense    91,25287,782103,302
Contract with customer, asset, after allowance for credit loss5,159778   
Capitalized contract cost94,19894,50693,467  
Derivative instruments and hedges, assets1,9032993,860731  
Funds held for clients      
Other undisclosed current assets17,00520,98616,84513,47815,47214,186
Total current assets:169,920147,004141,200145,675131,926153,861
Noncurrent Assets
Operating lease, right-of-use asset20,48917,51511,23811,335
Property, plant and equipment281,495172,662117,53082,12148,06524,620
Long-term investments and receivables2,0122,012    
Long-term investments2,0122,012    
Intangible assets, net (including goodwill)170,200180,819163,748167,472139,449148,468
Goodwill130,410130,410116,304109,81890,05490,053
Intangible assets, net (excluding goodwill)39,79050,40947,44457,65449,39558,414
Prepaid expense    17,91518,74523,701
Contract with customer, asset, after allowance for credit loss 2,328    
Capitalized contract cost, net16,47618,20517,5991,4001,390
Derivative instruments and hedges  278    
Restricted cash and investments      
Deferred costs1,8271,079362   
Deferred income tax assets 22226 
Total noncurrent assets:494,827392,592310,703280,243207,649196,789
TOTAL ASSETS:664,747539,596451,903425,918339,575350,650
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities39,82425,35817,42717,36816,01214,665
Taxes payable1028631,3241,6681,226
Accounts payable17,17110,0166,3296,6718,4457,026
Accrued liabilities22,65315,24010,2359,3735,8996,413
Deferred revenue122,894124,116127,336123,101
Debt    1,41318,40018,290
Deferred rent credit     21
Derivative instruments and hedges, liabilities 38912599 1,276 
Deferred revenue and credits129,176
Customer advances and deposits15,255
Contract with customer, liability116,734
Other liabilities 1,6003,078    
Other undisclosed current liabilities23,48221,00618,10315,02612,9041,175
Total current liabilities:188,189173,683162,965156,908165,347178,561
Noncurrent Liabilities
Long-term debt and lease obligation238,930202,601130,912122,92746,20158,634
Long-term debt, excluding current maturities238,930190,748121,733113,50346,20158,634
Liabilities, other than long-term debt140,97148,22053,32851,88948,25152,109
Deferred revenue and credits31,557
Accounts payable and accrued liabilities 142170195216250289
Deferred revenue22,23723,67724,90926,202
Contract with customer, liability26,960
Deferred rent credit     116
Deferred tax liabilities, net20,92519,834
Deferred income tax liabilities15,72022,56924,69425,471
Financial instruments subject to mandatory redemption, settlement terms, share value, amount90,434     
Other liabilities  1,8043,416  429
Operating lease, liability12,43811,8539,1799,424
Derivative instruments and hedges, liabilities   114   
Total noncurrent liabilities:379,901250,821184,240174,81694,452110,743
Total liabilities:568,090424,504347,205331,724259,799289,303
Temporary equity, carrying amount      1,136
Equity
Equity, attributable to parent96,657115,092104,69894,19479,77660,211
Common stock31,86828,51520,79816,63315,82315,368
Additional paid in capital8,1062,7641,4588803,9532,167
Accumulated other comprehensive income (loss)7843432,336473(810) 
Retained earnings (accumulated deficit)55,89983,47080,10676,20860,81042,676
Total equity:96,657115,092104,69894,19479,77660,211
TOTAL LIABILITIES AND EQUITY:664,747539,596451,903425,918339,575350,650

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues321,142304,337311,202337,145346,01398
Financial services revenue98
Cost of revenue(242,894)(226,044)(225,717)(236,368)(249,243)(244,900)
Cost of goods and services sold(225,369)(211,074)(213,885)(227,178)(232,103)(230,600)
Other undisclosed gross profit      329,323
Gross profit:78,24878,29385,485100,77796,77084,521
Operating expenses(109,910)(86,066)(78,568)(71,437)(67,446)(57,439)
Operating income (loss):(31,662)(7,773)6,91729,34029,32427,081
Nonoperating income (expense)3,87415,0433,843(4,769)(3,169)(3,007)
Investment income, nonoperating 20,0307,612   
Other nonoperating income (expense)(177)(370)(158) 518561
Interest and debt expense      
Income (loss) from continuing operations before equity method investments, income taxes:(27,788)7,27010,76024,57126,15524,075
Other undisclosed income from continuing operations before income taxes      
Income (loss) from continuing operations before income taxes:(27,788)7,27010,76024,57126,15524,075
Income tax expense (benefit)217(3,906)(4,985)(9,173)(9,020)(1,748)
Income (loss) from continuing operations:(27,571)3,3645,77515,39817,13522,327
Income before gain (loss) on sale of properties:3,3645,77515,39817,13522,327
Net income (loss) available to common stockholders, diluted:(27,571)3,3645,77515,39817,13522,327

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(27,571)3,3645,77515,39817,13522,327
Other comprehensive income (loss)441(1,993)1,8631,283(810)(99)
Comprehensive income (loss):(27,130)1,3717,63816,68116,32522,227
Other undisclosed comprehensive income, net of tax, attributable to parent      
Comprehensive income (loss), net of tax, attributable to parent:(27,130)1,3717,63816,68116,32522,227

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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