Filing Flows › Technology › Tucows (TCX)
Tucows (TCX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Tucows (TCX) Q3 2026 earnings results →
Q3 2026 Revenue up 1% year over year to $100M · 10¢ of every $1 of revenue lost · operating margin 0.3%
Tucows made $100M in Q3 2026 (+1% Y/Y). Operating margin 0.3%, net loss $10.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $100.0M in Q3 2026, up 1% year over year and down 1% from the previous quarter.
Gross margin was 29.1%, up 4.6 points from Q3 2025. Operating profit was $298K, a 0.3% margin (up 10.0 points year over year). Operating expenses fell 15% while revenue rose 1%. The fastest-growing cost line was General & admin (+20%). The quarter ended with a net loss of $10.3M, narrower than the previous quarter's $20.5M loss. Net interest and other expense of $8.6M was the main reason.
Operating cash flow was −$4.6M. Non-cash charges added back $775K of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items added $3.9M. Capital expenditures of $5.1M exceeded it, leaving free cash flow of −$9.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $100M | +1% | 0.3% | −$10.3M | −$4.6M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $101M | +2% | -5.4% | −$20.5M | $1.9M |
| Q1 2026 | 10-Q | May 7, 2026 | $96.7M | +2% | -4.5% | −$18.1M | $3.5M |
| Q4 2025 | 10-K | Mar 12, 2026 | $98.7M | +6% | -9.1% | −$22.0M | −$2.6M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $98.6M | +7% | -9.7% | −$23.0M | $1.5M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $98.5M | +10% | -2.9% | −$15.6M | $6.6M |
| Q1 2025 | 10-Q | May 8, 2025 | $94.6M | +8% | -2.1% | −$15.1M | −$11.3M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Tucows
We accomplish this by reducing the complexity of our customers’ experience as they access the Internet (at home or on the go) and while using Internet services such as domain name registration, email and other Internet related services. We are organized into three operating and reporting segments - Ting, Wavelo, and Tucows Domains. Each segment is differentiated primarily by their services, the markets they serve and the regulatory environments in which they operate. The Ting segment contains the operating results of our retail high speed Internet access operations, including its wholly owned subsidiaries - Cedar and Simply Bits. The Wavelo segment includes our platform and professional services offerings, as well as the billing solutions to Internet services providers ("ISPs").
In its own words, from its 10-K, filed Mar 12, 2026.
Tucows against its Services-Computer Processing & Data Preparation peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +1% against the peers' median +6%. Operating margin: 0.3% against the peers' median 11.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TCX Tucows | Q3 2026 | $100M | +1% | 0.3% |
| ADP Automatic Data Processing | Q1 FY27 | $5.5B | +6% | 23.9% |
| DXC DXC Technology | Q2 FY27 | $3.0B | -4% | 6.2% |
| WDAY Workday | Q2 FY27 | $2.6B | +13% | 11.8% |
| TOST Toast | Q3 2026 | $2.0B | +21% | 8.3% |
| RDDT Reddit | Q3 2026 | $895M | +53% | 29.2% |
| VRSK Verisk Analytics | Q3 2026 | $809M | +5% | 45.2% |
| RNG RingCentral | Q3 2026 | $676M | +6% | 8.0% |
| PLTK Playtika Holding | Q3 2026 | $674M | -0.1% | 17.2% |
Source: Tucows 10-Q on SEC EDGAR · CIK 909494 · Services-Computer Processing & Data Preparation
Guidance and outlook
13F: who owns TCX and who is buying
More on TCX
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results