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Tucows TCX Wavelo — Adjusted EBITDA

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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%
Net margin-20.1%-4.0pp
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

Reported directly by Tucows in its filing.

Tagged under the XBRL concept tcx:AdjustedEBITDA.

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 wavelo — adjusted EBITDA?
Tucows (TCX) reported wavelo — adjusted EBITDA of $3.62M in Q1 2026.
How has Tucows's wavelo — adjusted EBITDA changed year-over-year?
Tucows's wavelo — adjusted EBITDA decreased by 18.7% year-over-year, from $4.45M to $3.62M.
What is the long-term trend for Tucows's wavelo — adjusted EBITDA?
Over 3 years (2021 to 2025), Tucows's wavelo — adjusted EBITDA has grown at a 33.6% compound annual growth rate (CAGR), from $7.33M to $17.49M.
What does wavelo — adjusted EBITDA mean?
This is a non-GAAP measure representing the segment's operating profitability by excluding interest, taxes, depreciation, amortization, and other non-cash or non-recurring charges. It provides a clearer view of the segment's core operational cash flow generation and efficiency. This metric is essential for comparing the underlying performance of the business unit independent of capital structure or accounting conventions.