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Note 20 - Segment Reporting (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Notes Tables |
Condensed Income Statement [Table Text Block] |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate |  |  | Consolidated Totals |
Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External Revenues |  | $ | 42,425 |  |  | $ | 23,632 |  |  | $ | 243,158 |  |  | $ | 11,927 |  |  | $ | 321,142 |
Intersegment Revenues |  |  | - |  |  |  | 712 |  |  |  | - |  |  |  | (712 | ) |  |  | - |
Total Net Revenues |  |  | 42,425 |  |  |  | 24,344 |  |  |  | 243,158 |  |  |  | 11,215 |  |  |  | 321,142 |
Direct cost of revenues |  |  | 17,004 |  |  |  | 2,926 |  |  |  | 166,890 |  |  |  | 9,448 |  |  |  | 196,268 |
Segment Gross Margin |  |  | 25,421 |  |  |  | 21,418 |  |  |  | 76,268 |  |  |  | 1,767 |  |  |  | 124,874 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,433 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,589 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,512 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 92 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 78,248 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 53,937 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,187 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 30,845 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 598 |
Loss on disposition of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 461 |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,882 |
Loss (gain) on currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 109,910 |
Income (Loss) from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (31,662 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,456 | )
Income earned on sale of transferred assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,507 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (177 | )
Total other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,874 |
Income (Loss) before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (27,788 | )
Adjusted EBITDA |  | $ | (21,557 | ) |  | $ | 3,875 |  |  | $ | 44,834 |  |  | $ | 10,438 |  |  | $ | 37,590 |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate |  |  | Consolidated Totals |
Year Ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External Revenues |  | $ | 25,327 |  |  | $ | 16,781 |  |  | $ | 245,576 |  |  | $ | 16,653 |  |  | $ | 304,337 |
Intersegment Revenues |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Net Revenues |  |  | 25,327 |  |  |  | 16,781 |  |  |  | 245,576 |  |  |  | 16,653 |  |  |  | 304,337 |
Direct cost of revenues |  |  | 12,035 |  |  |  | 1,308 |  |  |  | 167,488 |  |  |  | 12,208 |  |  |  | 193,039 |
Segment Gross Margin |  |  | 13,292 |  |  |  | 15,473 |  |  |  | 78,088 |  |  |  | 4,445 |  |  |  | 111,298 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,769 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,452 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 583 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 201 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 78,293 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 39,471 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,310 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22,370 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 534 |
Loss (gain) on disposition of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 234 |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,424 |
Impairment of definite life intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (277 | )
Gain on currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 86,066 |
Income (Loss) from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,773 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,617 | )
Gain on sale of Ting customer assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 20,030 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (370 | )
Total other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,043 |
Income (Loss) before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7,270 |
Adjusted EBITDA |  | $ | (18,778 | ) |  | $ | 7,334 |  |  | $ | 47,765 |  |  | $ | 12,500 |  |  | $ | 48,821 |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate |  |  | Consolidated Totals |
Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External Revenues |  | $ | 17,151 |  |  | $ | 1,839 |  |  | $ | 242,254 |  |  | $ | 49,958 |  |  | $ | 311,202 |
Intersegment Revenues |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Net Revenues |  |  | 17,151 |  |  |  | 1,839 |  |  |  | 242,254 |  |  |  | 49,958 |  |  |  | 311,202 |
Direct cost of revenues |  |  | 6,856 |  |  |  | 183 |  |  |  | 167,451 |  |  |  | 25,911 |  |  |  | 200,401 |
Segment Gross Margin |  |  | 10,295 |  |  |  | 1,656 |  |  |  | 74,803 |  |  |  | 24,047 |  |  |  | 110,801 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,194 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,144 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,340 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,638 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 85,485 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 34,274 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,427 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 20,268 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 488 |
Loss (gain) on disposition of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (17 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,080 |
Impairment of definite life intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,431 |
Gain on currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (383 | )
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 78,568 |
Income (Loss) from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,917 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,611 | )
Gain on sale of Ting customer assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,612 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (158 | )
Total other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,843 |
Income (Loss) before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 10,760 |
Adjusted EBITDA |  | $ | (6,349 | ) |  | $ | (5,381 | ) |  | $ | 46,158 |  |  | $ | 16,545 |  |  | $ | 50,973 |
Reconciliation of Income before Provision for Income Taxes to Adjusted EBITDA |  | Twelve months ended December 31, |
(In Thousands of US Dollars) |  | 2022 |  |  | 2021 |  |  | 2020 |
Net Income for the period |  | $ | (27,571 | ) |  | $ | 3,364 |  |  | $ | 5,775 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Provision for income taxes |  |  | (217 | ) |  |  | 3,906 |  |  |  | 4,985 |
Depreciation of property and equipment |  |  | 28,187 |  |  |  | 17,986 |  |  |  | 12,632 |
Impairment and loss on disposition of property and equipment |  |  | 553 |  |  |  | 435 |  |  |  | 1,621 |
Amortization of intangible assets |  |  | 11,394 |  |  |  | 10,007 |  |  |  | 11,420 |
Impairment of definite life intangible assets |  |  | - |  |  |  | - |  |  |  | 1,431 |
Write-down on disposal of Ting Mobile customer assets |  |  | - |  |  |  | - |  |  |  | 3,513 |
Interest expense, net |  |  | 14,456 |  |  |  | 4,617 |  |  |  | 3,611 |
Accretion of contingent liability |  |  | 248 |  |  |  | 383 |  |  |  | 344 |
Stock-based compensation |  |  | 7,599 |  |  |  | 4,592 |  |  |  | 3,718 |
Unrealized loss (gain) on change in fair value of foreign currency forward contracts |  |  | - |  |  |  | 606 |  |  |  | (500 | )
Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities |  |  | 281 |  |  |  | 219 |  |  |  | 461 |
Acquisition and other costs1 |  |  | 2,660 |  |  |  | 2,706 |  |  |  | 1,962 |
Adjusted EBITDA |  | $ | 37,590 |  |  | $ | 48,821 |  |  | $ | 50,973 |
Summary of Cost of Revenues from Each Significant Revenue Stream By Segment [Table Text Block] |
|  | 2022 |  |  | 2021 |  |  |  | 2020 |
Ting: |  |  |  |  |  |  |  |  |  |  |  |
Fiber Internet Services |  | $ | 17,004 |  |  | $ | 12,035 |  |  | $ | 6,856 |
Wavelo: |  |  |  |  |  |  |  |  |  |  |  |
Platform Services |  |  | 1,294 |  |  |  | 504 |  |  |  | 183 |
Other professional services |  |  | 1,632 |  |  |  | 804 |  |  |  | - |
Total Wavelo |  |  | 2,926 |  |  |  | 1,308 |  |  |  | 183 |
Tucows Domains: |  |  |  |  |  |  |  |  |  |  |  |
Wholesale |  |  |  |  |  |  |  |  |  |  |  |
Domain Services |  |  | 147,894 |  |  |  | 147,213 |  |  |  | 146,788 |
Value Added Services |  |  | 2,514 |  |  |  | 2,544 |  |  |  | 3,016 |
Total Wholesale |  |  | 150,408 |  |  |  | 149,757 |  |  |  | 149,804 |
Retail |  |  | 16,482 |  |  |  | 17,731 |  |  |  | 17,647 |
Total Tucows Domains |  |  | 166,890 |  |  |  | 167,488 |  |  |  | 167,451 |
Tucows Corporate: |  |  |  |  |  |  |  |  |  |  |  |
Mobile Services and eliminations |  |  | 9,448 |  |  |  | 12,208 |  |  |  | 25,911 |
Network Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Network, other costs |  |  | 17,433 |  |  |  | 14,769 |  |  |  | 10,194 |
Network, depreciation and amortization costs |  |  | 29,101 |  |  |  | 18,035 |  |  |  | 13,484 |
Network, impairment |  |  | 92 |  |  |  | 201 |  |  |  | 1,638 |
Total Network Expenses |  |  | 46,626 |  |  |  | 33,005 |  |  |  | 25,316 |
|  | $ | 242,894 |  |  | $ | 226,044 |  |  | $ | 225,717 |
Schedule of Property Plant and Equipment by Geographic Region [Table Text Block] |
|  | December 31, 2022 |  |  | December 31, 2021 |
Canada |  | $ | 1,240 |  |  | $ | 1,994 |
United States |  |  | 280,219 |  |  |  | 170,630 |
Europe |  |  | 36 |  |  |  | 38 |
|  | $ | 281,495 |  |  | $ | 172,662 |
Schedule of Acquired Intangible Assets by Major Class [Table Text Block] |
|  | December 31, 2022 |  |  | December 31, 2021 |
Canada |  | $ | 2,736 |  |  | $ | 1,386 |
United States |  |  | 24,770 |  |  |  | 36,732 |
|  | $ | 27,506 |  |  | $ | 38,118 |
Schedule of Deferred Tax Asset Net By Geographic Region [Table Text Block] |
|  | December 31, 2022 |  |  | December 31, 2021 |
Canada |  | $ | - |  |  | $ | 22 |
|  | $ | - |  |  | $ | 22 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] |
Allowance for doubtful accounts |  | Balance at beginning of period |  |  | Charged to costs and expenses |  |  | Write-offs during period |  |  | Balance at end of period |
Year Ended December 31, 2022 |  | $ | 541 |  |  | $ | 152 |  |  | $ | - |  |  | $ | 693 |
Year Ended December 31, 2021 |  | $ | 222 |  |  | $ | 319 |  |  | $ | - |  |  | $ | 541 |

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