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Tucows TCX Wavelo — Research And Development Expense

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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 us-gaap:ResearchAndDevelopmentExpense.

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 — research and development expense?
Tucows (TCX) reported wavelo — research and development expense of $1.84M in Q1 2026.
How has Tucows's wavelo — research and development expense changed year-over-year?
Tucows's wavelo — research and development expense increased by 8.8% year-over-year, from $1.69M to $1.84M.
What is the long-term trend for Tucows's wavelo — research and development expense?
Over 3 years (2022 to 2025), Tucows's wavelo — research and development expense has grown at a 23.2% compound annual growth rate (CAGR), from $4.13M to $7.72M.
What does wavelo — research and development expense mean?
Represents expenditures dedicated to the innovation, design, and improvement of the Wavelo segment's mobile service enabler platform. High investment here indicates a focus on long-term product competitiveness and technological advancement.