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Note 13 - Segment Reporting (Tables)

6 Months Ended

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

X

- 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
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Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11B
-Publisher FASB
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-Publisher FASB
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