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Note 13 - Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2023

Notes Tables

Condensed Income Statement [Table Text Block]

Reconciliation of Loss before Provision for Income Taxes to Adjusted EBITDA		Three Months Ended September 30,								Nine Months Ended September 30,
(In Thousands of US Dollars)		2023				2022				2023				2022
(unaudited)		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Net Loss for the period		$	(22,772	)		$	(7,981	)		$	(72,823	)		$	(14,126	)
Less:
Provision (recovery) for income taxes			(822	)			(1,027	)			(5,557	)			790
Depreciation of property and equipment			9,275				7,285				26,770				20,063
Impairment and loss on disposition of property and equipment			2,663				(16	)			4,679				491
Amortization of intangible assets			2,620				2,842				8,101				8,528
Interest expense, net			10,739				4,337				29,120				8,555
Loss on debt extinguishment			-				-				14,680				-
Accretion of contingent liability			-				50				-				198
Stock-based compensation			2,308				1,569				6,606				4,396
Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities			340				348				254				446
Acquisition and other costs1			121				472				1,067				1,549
Adjusted EBITDA		$	4,472			$	7,879			$	12,897			$	30,890

		Ting				Wavelo				Tucows Domains				Tucows Corporate				Consolidated Totals
For the Three Months Ended September 30, 2023
Net Revenues
External Revenues		$	12,855			$	10,397			$	61,088			$	2,631			$	86,971
Intersegment Revenues			-				677				-				(677	)			-
Total Net Revenues			12,855				11,074				61,088				1,954				86,971
Direct cost of revenues			4,869				570				42,713				2,565				50,717
Segment Gross Margin			7,986				10,504				18,375				(611	)			36,254
Network, other costs																			7,322
Network, depreciation of property and equipment																			9,138
Network, amortization of intangible assets																			378
Network, impairment of property and equipment																			2,663
Gross profit																			16,753
Expenses:
Sales and marketing																			17,295
Technical operations and development																			4,818
General and administrative																			9,399
Depreciation of property and equipment																			137
Amortization of intangible assets																			2,242
Loss (gain) on currency forward contracts																			29
Total expenses																			33,920
Loss from operations																			(17,167	)
Other income (expenses):
Interest expense, net																			(10,739	)
Income earned on sale of transferred assets																			4,312
Total other income (expense)																			(6,427	)
Loss before provision for income taxes																		$	(23,594	)
Adjusted EBITDA		$	(12,176	)		$	4,207			$	10,913			$	1,528			$	4,472

		Ting				Wavelo				Tucows Domains				Tucows Corporate				Consolidated Totals
For the Three Months Ended September 30, 2022
Net Revenues
External Revenues		$	10,946			$	3,863			$	60,281			$	2,960			$	78,050
Intersegment Revenues			-				185				-				(185	)			-
Total Net Revenues			10,946				4,048				60,281				2,775				78,050
Direct cost of revenues			4,290				235				42,111				1,666				48,302
Segment Gross Margin			6,656				3,813				18,170				1,109				29,748
Network, other costs																			4,244
Network, depreciation of property and equipment																			7,136
Network, amortization of intangible assets																			378
Network, impairment of property and equipment																			3
Gross profit																			17,987
Expenses:
Sales and marketing																			13,894
Technical operations and development																			2,983
General and administrative																			7,897
Depreciation of property and equipment																			149
Loss on disposition of property and equipment																			(19	)
Amortization of intangible assets																			2,464
Total expenses																			27,368
Loss from operations																			(9,381	)
Other income (expenses):
Interest expense, net																			(4,337	)
Income earned on sale of transferred assets																			4,737
Other expense, net																			(27	)
Total other income (expense)																			373
Loss before provision for income taxes																		$	(9,008	)
Adjusted EBITDA		$	(5,040	)		$	(902	)		$	10,385			$	3,436			$	7,879

		Ting				Wavelo				Tucows Domains				Tucows Corporate				Consolidated Totals
For the Nine Months Ended September 30, 2023
Net Revenues
External Revenues		$	37,116			$	27,123			$	180,286			$	7,854			$	252,379
Intersegment Revenues			-				2,002				-				(2,002	)			-
Total Net Revenues			37,116				29,125				180,286				5,852				252,379
Direct cost of revenues			14,211				2,295				126,461				7,783				150,750
Segment Gross Margin			22,905				26,830				53,825				(1,931	)			101,629
Network, other costs																			20,638
Network, depreciation of property and equipment																			26,331
Network, amortization of intangible assets																			1,135
Network, impairment of property and equipment																			4,679
Gross profit																			48,846
Expenses:
Sales and marketing																			49,052
Technical operations and development																			14,214
General and administrative																			25,674
Depreciation of property and equipment																			439
Amortization of intangible assets																			6,966
Loss (gain) on currency forward contracts																			52
Total expenses																			96,397
Loss from operations																			(47,551	)
Other income (expenses):
Interest expense, net																			(29,120	)
Loss on debt extinguishment																			(14,680	)
Income earned on sale of transferred assets, net																			12,971
Other expense, net																			-
Total other income (expense)																			(30,829	)
Loss before provision for income taxes																		$	(78,380	)
Adjusted EBITDA		$	(31,785	)		$	7,969			$	31,829			$	4,884			$	12,897

		Ting				Wavelo				Tucows Domains				Tucows Corporate				Consolidated Totals
For the Nine Months Ended September 30, 2022
Net Revenues
External Revenues		$	30,955			$	19,352			$	182,890			$	9,036			$	242,233
Intersegment Revenues			-				513				-				(513	)			-
Total Net Revenues			30,955				18,839				182,890				9,549				242,233
Direct cost of revenues			12,746				2,254				125,023				7,000				147,023
Segment Gross Margin			18,209				16,585				57,867				2,549				95,210
Network, other costs																			13,188
Network, depreciation of property and equipment																			19,620
Network, amortization of intangible assets																			1,134
Network, impairment of property and equipment																			30
Gross profit																			61,238
Expenses:
Sales and marketing																			39,384
Technical operations and development																			10,212
General and administrative																			22,006
Depreciation of property and equipment																			443
Loss on disposition of property and equipment																			461
Amortization of intangible assets																			7,394
Total expenses																			79,900
Loss from operations																			(18,662	)
Other income (expenses):
Interest expense, net																			(8,555	)
Income earned on sale of transferred assets																			14,009
Other expense, net																			(128	)
Total other income (expense)																			5,326
Loss before provision for income taxes																		$	(13,336	)
Adjusted EBITDA		$	(15,546	)		$	5,017			$	34,266			$	7,153			$	30,890

Schedule of Property Plant and Equipment by Geographic Region [Table Text Block]

		September 30, 2023				December 31, 2022
Canada		$	1,007			$	1,240
United States			329,832				280,219
Europe			35				36
		$	330,874			$	281,495

Schedule of Acquired Intangible Assets by Major Class [Table Text Block]

		September 30, 2023				December 31, 2022
Canada		$	2,104			$	2,736
United States			17,716				24,770
		$	19,820			$	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
Nine Months Ended September 30, 2023		$	693			$	-			$	98			$	595
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))
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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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-Publisher FASB
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