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Note 21 - Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate and eliminations |  |  | Consolidated Totals |
Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 50,937 |  |  | $ | 35,979 |  |  | $ | 242,097 |  |  | $ | 10,324 |  |  | $ | 339,337 |
Intersegment revenues |  |  | - |  |  |  | 2,691 |  |  |  | - |  |  |  | (2,691 | ) |  |  | - |
Total net revenues |  |  | 50,937 |  |  |  | 38,670 |  |  |  | 242,097 |  |  |  | 7,633 |  |  |  | 339,337 |
Direct cost of revenues |  |  | 20,151 |  |  |  | 2,626 |  |  |  | 169,414 |  |  |  | 10,065 |  |  |  | 202,256 |
Segment gross margin |  |  | 30,786 |  |  |  | 36,044 |  |  |  | 72,683 |  |  |  | (2,432 | ) |  |  | 137,081 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 28,222 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 35,864 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,506 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,822 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 66,667 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 67,806 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19,217 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 33,406 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 567 |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,323 |
Loss (gain) on currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 130,319 |
Loss from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (63,652 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (46,256 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,485 |
Loss on debt extinguishment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,680 | )
Income earned on sale of transferred assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,033 |
Total other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (39,418 | )
Loss before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (103,070 | )
Adjusted EBITDA |  | $ | (44,151 | ) |  | $ | 10,573 |  |  | $ | 42,623 |  |  | $ | 6,406 |  |  | $ | 15,451 |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate and eliminations |  |  | 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 (gain) on disposition of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 461 |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,882 |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 109,910 |
Loss from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (31,662 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,588 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 132 |
Gain on sale of Ting customer assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,507 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (177 | )
Total other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,874 |
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 and eliminations |  |  | 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Gain on currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (277 | )
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 86,066 |
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 before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7,270 |
Adjusted EBITDA |  | $ | (18,778 | ) |  | $ | 7,334 |  |  | $ | 47,765 |  |  | $ | 12,500 |  |  | $ | 48,821 |
Segment, Reconciliation of Other Items from Segments to Consolidated [Table Text Block] |
Reconciliation of Income before Provision for Income Taxes to Adjusted EBITDA |  | Twelve months ended December 31, |
(In Thousands of US Dollars) |  | 2023 |  |  | 2022 |  |  | 2021 |
Net Income (Loss) for the period |  | $ | (96,197 | ) |  | $ | (27,571 | ) |  | $ | 3,364 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Provision for income taxes |  |  | (6,873 | ) |  |  | (217 | ) |  |  | 3,906 |
Depreciation of property and equipment |  |  | 36,431 |  |  |  | 28,187 |  |  |  | 17,986 |
Impairment and loss on disposition of property and equipment |  |  | 4,822 |  |  |  | 553 |  |  |  | 435 |
Amortization of intangible assets |  |  | 10,829 |  |  |  | 11,394 |  |  |  | 10,007 |
Interest expense, net |  |  | 41,771 |  |  |  | 14,456 |  |  |  | 4,617 |
Loss on debt extinguishment |  |  | 14,680 |  |  |  | - |  |  |  | - |
Accretion of contingent liability |  |  | - |  |  |  | 248 |  |  |  | 383 |
Stock-based compensation |  |  | 8,134 |  |  |  | 7,599 |  |  |  | 4,592 |
Unrealized loss (gain) on change in fair value of foreign currency forward contracts |  |  | - |  |  |  | - |  |  |  | 606 |
Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities |  |  | (62 | ) |  |  | 281 |  |  |  | 219 |
Acquisition and other costs1 |  |  | 1,916 |  |  |  | 2,660 |  |  |  | 2,706 |
Adjusted EBITDA |  | $ | 15,451 |  |  | $ | 37,590 |  |  | $ | 48,821 |
Schedule of Property Plant and Equipment by Geographic Region [Table Text Block] |
|  | December 31, 2023 |  |  | December 31, 2022 |
Canada |  | $ | 943 |  |  | $ | 1,240 |
United States |  |  | 338,696 |  |  |  | 280,219 |
Europe |  |  | 5 |  |  |  | 36 |
|  | $ | 339,644 |  |  | $ | 281,495 |
Schedule of Acquired Intangible Assets by Major Class [Table Text Block] |
|  | December 31, 2023 |  |  | December 31, 2022 |
Canada |  | $ | 1,864 |  |  | $ | 2,736 |
United States |  |  | 15,341 |  |  |  | 24,770 |
|  | $ | 17,205 |  |  | $ | 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 |
Year Ended December 31, 2023 |  | $ | 693 |  |  | $ |  |  |  | $ | (182 | ) |  | $ | 511 |
Year Ended December 31, 2022 |  | $ | 541 |  |  | $ | 152 |  |  | $ | - |  |  | $ | 693 |

X
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