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Note 13 - Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2024
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) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net Loss for the period |  | $ | (18,604 | ) |  | $ | (30,968 | ) |  | $ | (45,088 | ) |  | $ | (50,051 | )
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision (recovery) for income taxes |  |  | 1,220 |  |  |  | (3,025 | ) |  |  | 2,994 |  |  |  | (4,735 | )
Depreciation of property and equipment |  |  | 10,173 |  |  |  | 8,907 |  |  |  | 20,160 |  |  |  | 17,495 |
Impairment and loss on disposition of property and equipment |  |  | - |  |  |  | 74 |  |  |  | 53 |  |  |  | 2,016 |
Amortization of intangible assets |  |  | 1,201 |  |  |  | 2,609 |  |  |  | 2,880 |  |  |  | 5,481 |
Interest expense, net |  |  | 12,553 |  |  |  | 10,501 |  |  |  | 24,432 |  |  |  | 18,381 |
Loss on debt extinguishment |  |  | - |  |  |  | 14,680 |  |  |  | - |  |  |  | 14,680 |
Stock-based compensation |  |  | 1,702 |  |  |  | 2,052 |  |  |  | 3,575 |  |  |  | 4,298 |
Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities |  |  | 164 |  |  |  | (126 | ) |  |  | 554 |  |  |  | (84 | )
Acquisition and other costs1 |  |  | 769 |  |  |  | 691 |  |  |  | 3,820 |  |  |  | 944 |
Adjusted EBITDA |  | $ | 9,178 |  |  | $ | 5,395 |  |  | $ | 13,380 |  |  | $ | 8,425 |
|  | Ting |  |  | Wavelo |  |  | Tucows Domains |  |  | Tucows Corporate |  |  | Consolidated Totals |
For the Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External revenues |  | $ | 14,571 |  |  | $ | 10,291 |  |  | $ | 62,368 |  |  | $ | 2,193 |  |  | $ | 89,423 |
Intersegment revenues |  |  | - |  |  |  | 210 |  |  |  | - |  |  |  | (210 | ) |  |  | - |
Total net revenues |  |  | 14,571 |  |  |  | 10,501 |  |  |  | 62,368 |  |  |  | 1,983 |  |  |  | 89,423 |
Direct cost of revenues |  |  | 4,753 |  |  |  | 339 |  |  |  | 43,499 |  |  |  | 2,737 |  |  |  | 51,328 |
Segment gross margin |  |  | 9,818 |  |  |  | 10,162 |  |  |  | 18,869 |  |  |  | (754 | ) |  |  | 38,095 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,862 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,057 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 366 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 20,810 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,746 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,522 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,188 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 116 |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 835 |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29,407 |
Loss from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,597 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,553 | )
Income earned on sale of transferred assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,357 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 409 |
Total other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,787 | )
Loss before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (17,384 | )
Adjusted EBITDA |  | $ | (6,442 | ) |  | $ | 3,911 |  |  | $ | 11,217 |  |  | $ | 492 |  |  | $ | 9,178 |
|  | 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 |
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 |
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 Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External Revenues |  | $ | 28,673 |  |  | $ | 19,481 |  |  | $ | 124,250 |  |  | $ | 4,476 |  |  | $ | 176,880 |
Intersegment Revenues |  |  | - |  |  |  | 410 |  |  |  | - |  |  |  | (410 | ) |  |  | - |
Total Net Revenues |  |  | 28,673 |  |  |  | 19,891 |  |  |  | 124,250 |  |  |  | 4,066 |  |  |  | 176,880 |
Direct cost of revenues |  |  | 10,113 |  |  |  | 690 |  |  |  | 86,845 |  |  |  | 5,474 |  |  |  | 103,122 |
Segment gross margin |  |  | 18,560 |  |  |  | 19,201 |  |  |  | 37,405 |  |  |  | (1,408 | ) |  |  | 73,758 |
Network, other costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,926 |
Network, depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19,922 |
Network, amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 731 |
Network, impairment of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 53 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 39,126 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 33,311 |
Technical operations and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,538 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19,006 |
Depreciation of property and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 238 |
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,149 |
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 64,242 |
Loss from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (25,116 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (24,432 | )
Loss on debt extinguishment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Income earned on sale of transferred assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,978 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 476 |
Total other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (16,978 | )
Loss before provision for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (42,094 | )
Adjusted EBITDA |  | $ | (15,979 | ) |  | $ | 6,698 |  |  | $ | 21,228 |  |  | $ | 1,433 |  |  | $ | 13,380 |
|  | 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 |
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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |
Schedule of Property Plant and Equipment by Geographic Region [Table Text Block] |
|  | June 30, 2024 |  |  | December 31, 2023 |
Canada |  | $ | 946 |  |  | $ | 943 |
United States |  |  | 353,282 |  |  |  | 338,696 |
Europe |  |  | 4 |  |  |  | 5 |
|  | $ | 354,232 |  |  | $ | 339,644 |
Schedule of Acquired Intangible Assets by Major Class [Table Text Block] |
|  | June 30, 2024 |  |  | December 31, 2023 |
Canada |  | $ | 1,554 |  |  | $ | 1,864 |
United States |  |  | 12,869 |  |  |  | 15,341 |
|  | $ | 14,423 |  |  | $ | 17,205 |
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 (recovery) during period |  |  | Balance at end of period |
Six Months Ended June 30, 2024 |  | $ | 511 |  |  | $ | 18 |  |  | $ | (83 | ) |  | $ | 446 |
Twelve months ended December 31, 2023 |  | $ | 693 |  |  | $ | - |  |  | $ | (182 | ) |  | $ | 511 |

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