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Tucows Inc. (TCX) reported a 15.1% increase in shares following its third-quarter earnings announcement on November 6, 2025. During Q3, consolidated net revenues rose 6.8% to $98.6 million, and adjusted EBITDA jumped 53% to $13.3 million.
The adjusted net loss improved by 20% year-over-year to $15.8 million, with adjusted EPS narrowing to a loss of $1.42 from $1.81. Key segments included Domains revenue at $67.8 million, Wavelo Services at $11.9 million, and Ting Internet Services at $17 million, reflecting increases of 5%, 18%, and 11% respectively.
Tucows has initiated a formal review process for Ting Internet Services, which may lead to a potential sale, while maintaining its 2025 financial guidance of $47 million in adjusted EBITDA. The company also reported a decline in corporate net debt to $189.6 million and cash reserves of $70.8 million at the end of the quarter.
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