Filing Flows › Tucows (TCX) › Q1 2025
Tucows (TCX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Tucows (TCX) reported revenue of $94.6M for the first quarter 2025 (Q1 2025), +8% from a year earlier and +2% from the quarter before. Operating margin was -2.1%, net loss $15.1M (16.0% of revenue).
Tucows, Q1 2025: revenue $94.6M (+8% year over year), operating margin -2.1%, net loss $15.1M, operating cash flow −$11.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $94.6M | +2% | +8% |
| Operating profit | −$2.0M | — | — |
| Net earnings | −$15.1M | — | — |
| Operating cash flow | −$11.3M | — | — |
What changed
Revenue was $94.6M in Q1 2025, up 8% year over year and up 2% from the previous quarter.
Gross margin was 24.9%, up 3.9 points from a year earlier. Operating costs exceeded revenue by $2.0M, an operating margin of -2.1%. Operating expenses fell 27% while revenue rose 8%. The quarter ended with a net loss of $15.1M, narrower than the previous quarter's $42.5M loss. Net interest and other expense of $10.9M was the main reason.
Operating cash flow was −$11.3M. Non-cash charges added back $924K of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items added $1.5M. Capital expenditures of $5.4M exceeded it, leaving free cash flow of −$16.7M.
Questions
What was Tucows' revenue in the first quarter 2025?
Tucows (TCX) reported revenue of $94.6M for the first quarter 2025 (Q1 2025), +8% from a year earlier and +2% from the quarter before.
Was Tucows profitable in the first quarter 2025?
Operating loss was $2.0M (-2.1% of revenue) and net loss $15.1M.
Source: Tucows 10-Q on SEC EDGAR.