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Note 13 - Segment Reporting (Tables)

6 Months Ended

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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- Definition

Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-13

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-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B

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