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Note 13 - Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2023
Notes Tables |
Condensed Income Statement [Table Text Block] |
Reconciliation of Loss before Provision for Income Taxes to Adjusted EBITDA |  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(In Thousands of US Dollars) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
(unaudited) |  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |
Net Loss for the period |  | $ | (30,968 | ) |  | $ | (3,125 | ) |  | $ | (50,051 | ) |  | $ | (6,145 | )
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision for income taxes |  |  | (3,025 | ) |  |  | 738 |  |  |  | (4,735 | ) |  |  | 1,817 |
Depreciation of property and equipment |  |  | 8,907 |  |  |  | 6,735 |  |  |  | 17,495 |  |  |  | 12,778 |
Impairment and loss on disposition of property and equipment |  |  | 74 |  |  |  | 95 |  |  |  | 2,016 |  |  |  | 507 |
Amortization of intangible assets |  |  | 2,609 |  |  |  | 2,843 |  |  |  | 5,481 |  |  |  | 5,686 |
Interest expense, net |  |  | 10,501 |  |  |  | 2,422 |  |  |  | 18,381 |  |  |  | 4,217 |
Loss on debt extinguishment |  |  | 14,680 |  |  |  | - |  |  |  | 14,680 |  |  |  | - |
Accretion of contingent liability |  |  | - |  |  |  | 50 |  |  |  | - |  |  |  | 148 |
Stock-based compensation |  |  | 2,052 |  |  |  | 1,436 |  |  |  | 4,298 |  |  |  | 2,828 |
Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities |  |  | (126 | ) |  |  | 46 |  |  |  | (84 | ) |  |  | 100 |
Acquisition and other costs1 |  |  | 691 |  |  |  | 460 |  |  |  | 944 |  |  |  | 1,076 |
Adjusted EBITDA |  | $ | 5,395 |  |  | $ | 11,700 |  |  | $ | 8,425 |  |  | $ | 23,012 |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate |  |  | Consolidated Totals |
For the Three Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External Revenues |  | $ | 12,408 |  |  | $ | 10,084 |  |  | $ | 59,956 |  |  | $ | 2,530 |  |  | $ | 84,978 |
Intersegment Revenues |  |  | - |  |  |  | 667 |  |  |  | - |  |  |  | (667 | ) |  |  | - |
Total Net Revenues |  |  | 12,408 |  |  |  | 10,751 |  |  |  | 59,956 |  |  |  | 1,863 |  |  |  | 84,978 |
Direct cost of revenues |  |  | 5,357 |  |  |  | 699 |  |  |  | 42,027 |  |  |  | 2,660 |  |  |  | 50,743 |
Segment Gross Margin |  |  | 7,051 |  |  |  | 10,052 |  |  |  | 17,929 |  |  |  | (797 | ) |  |  | 34,235 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,993 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,757 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 379 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 74 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,032 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16,020 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,581 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,084 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 150 |
Loss on disposition of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,230 |
Loss (gain) on currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 68 |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 31,133 |
Loss from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (13,101 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,501 | )
Loss on debt extinguishment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,680 | )
Income earned on sale of transferred assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,289 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Total other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (20,892 | )
Loss before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (33,993 | )
Adjusted EBITDA |  | $ | (10,336 | ) |  | $ | 3,427 |  |  | $ | 10,578 |  |  | $ | 1,726 |  |  | $ | 5,395 |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate |  |  | Consolidated Totals |
For the Three Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External Revenues |  | $ | 10,221 |  |  | $ | 8,799 |  |  | $ | 61,063 |  |  | $ | 3,001 |  |  | $ | 83,084 |
Intersegment Revenues |  |  | - |  |  |  | 171 |  |  |  | - |  |  |  | (171 | ) |  |  | - |
Total Net Revenues |  |  | 10,221 |  |  |  | 8,970 |  |  |  | 61,063 |  |  |  | 2,830 |  |  |  | 83,084 |
Direct cost of revenues |  |  | 4,417 |  |  |  | 1,058 |  |  |  | 41,100 |  |  |  | 2,725 |  |  |  | 49,300 |
Segment Gross Margin |  |  | 5,804 |  |  |  | 7,912 |  |  |  | 19,963 |  |  |  | 105 |  |  |  | 33,784 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,764 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,589 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 378 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22,053 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,503 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,465 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,814 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 146 |
Loss on disposition of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 95 |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,465 |
Loss (gain) on currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 26,488 |
Loss from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,435 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,422 | )
Income earned on sale of transferred assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,520 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (50 | )
Total other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,048 |
Loss before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (2,387 | )
Adjusted EBITDA |  | $ | (6,185 | ) |  | $ | 3,872 |  |  | $ | 12,107 |  |  | $ | 1,906 |  |  | $ | 11,700 |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate |  |  | Consolidated Totals |
For the Six Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External Revenues |  | $ | 24,261 |  |  | $ | 16,726 |  |  | $ | 119,198 |  |  | $ | 5,223 |  |  | $ | 165,408 |
Intersegment Revenues |  |  | - |  |  |  | 1,325 |  |  |  | - |  |  |  | (1,325 | ) |  |  | - |
Total Net Revenues |  |  | 24,261 |  |  |  | 18,051 |  |  |  | 119,198 |  |  |  | 3,898 |  |  |  | 165,408 |
Direct cost of revenues |  |  | 9,342 |  |  |  | 1,725 |  |  |  | 83,748 |  |  |  | 5,218 |  |  |  | 100,033 |
Segment Gross Margin |  |  | 14,919 |  |  |  | 16,326 |  |  |  | 35,450 |  |  |  | (1,320 | ) |  |  | 65,375 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,316 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,193 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 757 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,016 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 32,093 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 31,757 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,396 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16,275 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 302 |
Loss on disposition of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,724 |
Loss (gain) on currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 23 |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 62,477 |
Loss from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (30,384 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (18,381 | )
Loss on debt extinguishment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,680 | )
Income earned on sale of transferred assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,659 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Total other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (24,402 | )
Loss before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (54,786 | )
Adjusted EBITDA |  | $ | (19,609 | ) |  | $ | 3,762 |  |  | $ | 20,916 |  |  | $ | 3,356 |  |  | $ | 8,425 |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate |  |  | Consolidated Totals |
For the Six Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External Revenues |  | $ | 20,009 |  |  | $ | 15,489 |  |  | $ | 122,609 |  |  | $ | 6,076 |  |  | $ | 164,183 |
Intersegment Revenues |  |  | - |  |  |  | 328 |  |  |  | - |  |  |  | (328 | ) |  |  | - |
Total Net Revenues |  |  | 20,009 |  |  |  | 15,161 |  |  |  | 122,609 |  |  |  | 6,404 |  |  |  | 164,183 |
Direct cost of revenues |  |  | 8,455 |  |  |  | 2,019 |  |  |  | 82,912 |  |  |  | 5,335 |  |  |  | 98,721 |
Segment Gross Margin |  |  | 11,554 |  |  |  | 13,142 |  |  |  | 39,697 |  |  |  | 1,069 |  |  |  | 65,462 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,944 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,484 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 756 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 43,251 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 25,490 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,230 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,110 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 294 |
Loss on disposition of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 480 |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,930 |
Loss (gain) on currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 52,534 |
Loss from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (9,283 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,217 | )
Income earned on sale of transferred assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,272 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (100 | )
Total other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,955 |
Loss before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (4,328 | )
Adjusted EBITDA |  | $ | (10,505 | ) |  | $ | 5,919 |  |  | $ | 23,881 |  |  | $ | 3,717 |  |  | $ | 23,012 |
Schedule of Property Plant and Equipment by Geographic Region [Table Text Block] |
|  | June 30, 2023 |  |  | December 31, 2022 |
Canada |  | $ | 1,162 |  |  | $ | 1,240 |
United States |  |  | 318,196 |  |  |  | 280,219 |
Europe |  |  | 35 |  |  |  | 36 |
|  | $ | 319,393 |  |  | $ | 281,495 |
Schedule of Acquired Intangible Assets by Major Class [Table Text Block] |
|  | June 30, 2023 |  |  | December 31, 2022 |
Canada |  | $ | 2,221 |  |  | $ | 2,736 |
United States |  |  | 20,187 |  |  |  | 24,770 |
|  | $ | 22,408 |  |  | $ | 27,506 |
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 |
Six Months Ended June 30, 2023 |  | $ | 693 |  |  |  |  |  |  | $ | 90 |  |  | $ | 603 |
Twelve months ended December 31, 2022 |  | $ | 541 |  |  | $ | 152 |  |  | $ | - |  |  | $ | 693 |

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