What is Tucows's net margin?

Tucows (TCX) reported net margin of -20.1% in Q1 2026.

How has Tucows's net margin changed year-over-year?

Tucows's net margin increased by 24.7% year-over-year, from -26.7% to -20.1%.

What is the long-term trend for Tucows's net margin?

Over 5 years (2020 to 2025), Tucows's net margin has grown at a 59.9% compound annual growth rate (CAGR), from 1.9% to -19.4%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Tucows TCX Net margin

Net margin at other companies

Lumen TechnologiesLUMN

-14.3%—

Verizon CommunicationsVZ

12.5%-0.7pp

AT&TT

16.9%+7.3pp

ComcastCMCSA

15%+2.3pp

GoDaddyGDDY

17.3%+1.1pp

HarmonicHLIT

-10.4%-22.2pp

Other financials

Income statement

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Revenue$96.7M+2.2%

Gross profit$24.1M+2.5%

Operating income-$4.3M-112%

Net income-$18.1M-19.7%

Balance sheet

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Cash & equivalents$44.3M+16.4%

Total debt$363.9M+12.5%

Total equity-$181.3M-67.5%

Total assets$729.2M-1.7%

Cash flow

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Operating cash flow$3.5M+131%

CapEx$5.5M+1.7%

Free cash flow-$2.0M+88.0%

Valuation

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Market cap$149.62M-30.4%

Enterprise value$469.18M-4.7%

P/S0.4×-0.2×

Profitability

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Gross margin30.8%—

Operating margin10.4%—

FCF margin-2.1%-1.0pp

Returns & leverage

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Return on equity-180.6%-217pp

Debt / equity25×+24.8×

Current ratio0.6×-0.4×

Where this comes from

Calculated from Tucows’s reported figures.

net income/total revenue=-20.1%

Based on trailing twelve months.

The official record: Tucows’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Tucows's net margin?: Tucows (TCX) reported net margin of -20.1% in Q1 2026.
How has Tucows's net margin changed year-over-year?: Tucows's net margin increased by 24.7% year-over-year, from -26.7% to -20.1%.
What is the long-term trend for Tucows's net margin?: Over 5 years (2020 to 2025), Tucows's net margin has grown at a 59.9% compound annual growth rate (CAGR), from 1.9% to -19.4%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.