Filing Flows › Tucows (TCX) › Q1 2026
Tucows (TCX) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Tucows (TCX) reported revenue of $96.7M for the first quarter 2026 (Q1 2026), +2% from a year earlier and -2% from the quarter before. Operating margin was -4.5%, net loss $18.1M (18.7% of revenue).
Tucows, Q1 2026: revenue $96.7M (+2% year over year), operating margin -4.5%, net loss $18.1M, operating cash flow $3.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $96.7M | -2% | +2% |
| Operating profit | −$4.3M | — | — |
| Net earnings | −$18.1M | — | — |
| Operating cash flow | $3.5M | — | — |
What changed
Revenue was $96.7M in Q1 2026, up 2% year over year and down 2% from the previous quarter.
Gross margin was 25.0%, up 0.1 points from Q1 2025. Operating costs exceeded revenue by $4.3M, an operating margin of -4.5%. Operating expenses grew 11% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+125%). The quarter ended with a net loss of $18.1M, narrower than the previous quarter's $22.0M loss. Net interest and other expense of $11.4M was the main reason.
Operating cash flow was $3.5M. Non-cash charges added back $1.2M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items added $19.3M. Capital expenditures of $5.5M exceeded it, leaving free cash flow of −$2.0M.
Questions
What was Tucows' revenue in the first quarter 2026?
Tucows (TCX) reported revenue of $96.7M for the first quarter 2026 (Q1 2026), +2% from a year earlier and -2% from the quarter before.
Was Tucows profitable in the first quarter 2026?
Operating loss was $4.3M (-4.5% of revenue) and net loss $18.1M.
Source: Tucows 10-Q on SEC EDGAR.