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
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments147,86411,77323,49630,5066,5106,201
Cash and cash equivalents147,86411,77323,49630,5066,5106,201
Receivables25,33026,37920,87517,46315,80019,640
Inventory, net of allowances, customer advances and progress billings7,8006,5397,2845,8884,7963,558
Inventory7,8006,5397,2845,8884,7963,558
Contract with customer, asset, after allowance for credit loss4,5725,1725,1593,4518,9543,283
Capitalized contract cost98,28498,25894,19894,32495,95996,986
Derivative instruments and hedges, assets1,0601,2491,9032,0152,0141,358
Funds held for clients3,361     
Other undisclosed current assets20,44818,33117,00518,62719,31123,221
Total current assets:308,719167,701169,920172,274153,344154,247
Noncurrent Assets
Operating lease, right-of-use asset21,61522,19120,48920,70219,45318,136
Property, plant and equipment319,393303,791281,495254,159225,202191,456
Long-term investments and receivables2,0122,0122,0122,0122,0122,012
Long-term investments2,0122,0122,0122,0122,0122,012
Intangible assets, net (including goodwill)165,102167,494170,200172,406175,248178,069
Goodwill130,410130,410130,410130,410130,410130,410
Intangible assets, net (excluding goodwill)34,69237,08439,79041,99644,83847,659
Contract with customer, asset, after allowance for credit loss 311242,3284,611  
Capitalized contract cost, net15,87416,37216,47617,60217,88217,674
Derivative instruments and hedges      459
Restricted cash and investments8,370     
Deferred costs2,1841,9761,8271,6871,5511,306
Deferred income tax assets58 141720
Total noncurrent assets:534,586513,968494,827473,193441,365409,132
TOTAL ASSETS:843,305681,669664,747645,467594,709563,379
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities39,36038,67139,82437,37646,28030,761
Taxes payable1,642416307
Accounts payable11,95516,63917,17118,53828,17914,103
Accrued liabilities27,40522,03222,65317,19617,68516,351
Deferred revenue128,868128,977122,894124,468126,994128,413
Debt     226,448 
Derivative instruments and hedges, liabilities  1293891,98938 
Other liabilities   1,6001,9501,8992,974
Other undisclosed current liabilities25,89924,34323,48220,16622,14220,696
Total current liabilities:194,127192,120188,189185,949423,801182,844
Noncurrent Liabilities
Long-term debt and lease obligation450,384236,025238,930251,66812,877219,403
Long-term debt, excluding current maturities450,384236,025238,930238,840 207,183
Liabilities, other than long-term debt147,688173,872140,971102,29944,53146,120
Accounts payable and accrued liabilities   142153150156
Deferred revenue22,10222,45722,23722,66423,18823,753
Deferred income tax liabilities9,59412,95115,72018,96621,19322,211
Financial instruments subject to mandatory redemption, settlement terms, share value, amount102,970124,80490,43460,516  
Operating lease, liability13,02213,66012,43812,82812,87712,220
Total noncurrent liabilities:598,072409,897379,901353,96757,408265,523
Total liabilities:792,199602,017568,090539,916481,209448,367
Equity
Equity, attributable to parent51,10679,65296,657105,551113,500115,012
Common stock32,94532,46131,86831,03530,19329,655
Additional paid in capital11,5099,7598,1065,4484,4843,530
Accumulated other comprehensive income (loss)804616784(276)1,4981,377
Retained earnings (accumulated deficit)5,84836,81655,89969,34477,32580,450
Total equity:51,10679,65296,657105,551113,500115,012
TOTAL LIABILITIES AND EQUITY:843,305681,669664,747645,467594,709563,379

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues84,97880,43078,90978,05083,08481,099
Cost of revenue(66,946)(66,369)(61,899)(60,063)(61,031)(59,901)
Cost of goods and services sold(59,879)(58,104)(57,592)(55,816)(56,267)(55,694)
Gross profit:18,03214,06117,01017,98722,05321,198
Operating expenses(31,133)(31,344)(30,010)(27,368)(26,488)(26,046)
Operating loss:(13,101)(17,283)(13,000)(9,381)(4,435)(4,848)
Nonoperating income (expense)(20,892)(3,510)(1,452)3732,0482,906
Investment income, nonoperating   (14,009)4,7374,5204,752
Other nonoperating income (expense)4,2894,370(49)(27)(50)(50)
Interest and debt expense(14,680)     
Loss from continuing operations before equity method investments, income taxes:(48,673)(20,793)(14,452)(9,008)(2,387)(1,942)
Other undisclosed income from continuing operations before income taxes14,680     
Loss from continuing operations before income taxes:(33,993)(20,793)(14,452)(9,008)(2,387)(1,942)
Income tax expense (benefit)3,0251,7101,0071,027(738)(1,078)
Loss from continuing operations:(30,968)(19,083)(13,445)(7,981)(3,125)(3,020)
Loss before gain (loss) on sale of properties:(7,981)(3,125)(3,020)
Net loss available to common stockholders, diluted:(30,968)(19,083)(13,445)(7,981)(3,125)(3,020)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net loss:(30,968)(19,083)(13,445)(7,981)(3,125)(3,020)
Other comprehensive income (loss)188(168)4411(40)(329)
Comprehensive loss:(30,780)(19,251)(13,004)(7,980)(3,165)(3,349)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   619(1,775)1611,363
Comprehensive loss, net of tax, attributable to parent:(30,780)(19,251)(12,385)(9,755)(3,004)(1,986)

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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