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Tucows Inc. (TCX)



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Upturn Advisory Summary
03/27/2025: TCX (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -42.48% | Avg. Invested days 22 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 185.51M USD | Price to earnings Ratio - | 1Y Target Price 150.01 |
Price to earnings Ratio - | 1Y Target Price 150.01 | ||
Volume (30-day avg) 55399 | Beta 0.71 | 52 Weeks Range 14.50 - 26.48 | Updated Date 04/1/2025 |
52 Weeks Range 14.50 - 26.48 | Updated Date 04/1/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -10.02 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -30.33% | Operating Margin (TTM) -0.68% |
Management Effectiveness
Return on Assets (TTM) -2.8% | Return on Equity (TTM) -1011.58% |
Valuation
Trailing PE - | Forward PE 29.15 | Enterprise Value 641730933 | Price to Sales(TTM) 0.51 |
Enterprise Value 641730933 | Price to Sales(TTM) 0.51 | ||
Enterprise Value to Revenue 1.77 | Enterprise Value to EBITDA 103.67 | Shares Outstanding 11032600 | Shares Floating 7834019 |
Shares Outstanding 11032600 | Shares Floating 7834019 | ||
Percent Insiders 20.78 | Percent Institutions 73.76 |
Analyst Ratings
Rating - | Target Price 150.01 | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold - | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Tucows Inc.

Company Overview
History and Background
Tucows Inc. was founded in 1993 as a shareware download site. It has evolved into a provider of internet services, domain names, and fiber internet solutions.
Core Business Areas
- Domain Services: Provides domain name registration and related services through its OpenSRS and Enom platforms to registrars and resellers worldwide. Facilitates domain name management and related services.
- Network Access Services: Offers fiber internet services to homes and businesses under the Ting brand. Focuses on providing high-speed internet access in underserved markets.
- Mobile Services: Provides mobile service under the Ting Mobile brand. Operates as a Mobile Virtual Network Operator (MVNO).
Leadership and Structure
Elliot Noss serves as the President and CEO. Tucows Inc. operates with a board of directors and a management team overseeing each business segment.
Top Products and Market Share
Key Offerings
- OpenSRS/Enom: Domain name wholesale services. Market share data is difficult to ascertain precisely, but Tucows is a significant player in the domain reseller market. Competitors include GoDaddy (GDDY), Namecheap, and Network Solutions.
- Ting Internet: Fiber internet service. Market share is localized to the areas where Ting operates and is relatively small compared to larger ISPs. Competitors include Comcast (CMCSA), Verizon (VZ), and AT&T (T).
- Ting Mobile: Mobile virtual network operator (MVNO). Market share is small compared to major mobile carriers. Competitors include Mint Mobile (TMUS), Visible (VZ), and Consumer Cellular.
Market Dynamics
Industry Overview
The internet services industry is characterized by intense competition, technological advancements, and evolving consumer demands. Domain registration is a mature market, while fiber internet and MVNO services are growing segments.
Positioning
Tucows Inc. positions itself as a provider of reliable and innovative internet services, focusing on underserved markets and providing value to its customers. It aims to offer competitive pricing and customer service.
Total Addressable Market (TAM)
The total addressable market for internet services, domain names, and mobile services is significant, estimated to be hundreds of billions of dollars globally. Tucows is positioning itself to capture a share of this market through its various segments.
Upturn SWOT Analysis
Strengths
- Diversified revenue streams
- Established presence in domain services
- Focus on underserved markets with Ting
- Strong customer service reputation
- MVNO platform providing flexibility
Weaknesses
- Relatively small market share in fiber internet and mobile
- Dependence on wholesale partners for domain services
- High capital expenditure for fiber deployments
- Intense competition across all business segments
Opportunities
- Expansion of Ting internet to new markets
- Growth in demand for high-speed internet
- Increasing adoption of MVNO services
- Strategic acquisitions to expand service offerings
- Leveraging existing customer base for cross-selling
Threats
- Competition from larger, well-funded companies
- Technological obsolescence in internet services
- Regulatory changes affecting internet and mobile services
- Economic downturn impacting consumer spending
- Cybersecurity risks
Competitors and Market Share
Key Competitors
- GDDY
- CMCSA
- VZ
- TMUS
Competitive Landscape
Tucows Inc. faces stiff competition from larger players in the internet services, domain registration, and mobile sectors. Its competitive advantage lies in its focus on underserved markets, customer service, and innovative service offerings. Tucows' MVNO business is growing in a competitive market, while its Internet services are highly regional.
Major Acquisitions
Ascio Technologies
- Year: 2018
- Acquisition Price (USD millions): 36
- Strategic Rationale: Expanded Tucows' domain services portfolio and strengthened its presence in the European market.
Growth Trajectory and Initiatives
Historical Growth: Tucows Inc.'s growth has been driven by expansion in domain services, strategic acquisitions, and the growth of Ting internet. However, growth rates can vary depending on the business segment.
Future Projections: Future growth is expected to be driven by continued expansion of Ting internet, growth in MVNO services, and strategic acquisitions. Analyst estimates vary depending on the source and assumptions.
Recent Initiatives: Recent initiatives include expanding the Ting internet footprint, optimizing the MVNO platform, and exploring strategic acquisitions to enhance service offerings.
Summary
Tucows Inc. is a diversified internet services company with both strengths and weaknesses. Its domain services provide a steady revenue stream, while Ting presents growth opportunities, yet faces challenges. Intense competition and capital requirements require strategic execution to achieve sustained growth. The company needs to be wary of bigger competitors.
Similar Companies

GDDY

Godaddy Inc



GDDY

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TMUS

T-Mobile US Inc



TMUS

T-Mobile US Inc

VZ

Verizon Communications Inc



VZ

Verizon Communications Inc
Sources and Disclaimers
Data Sources:
- Company Website
- SEC Filings
- Industry Reports
- Analyst Reports
- Company Press Releases
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute financial advice. Market share data are estimates and may vary.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Tucows Inc.
Exchange NASDAQ | Headquaters Toronto, ON, Canada | ||
IPO Launch date 1996-04-29 | President, CEO & Director Mr. Elliot Noss | ||
Sector Technology | Industry Software - Infrastructure | Full time employees 765 | Website https://www.tucows.com |
Full time employees 765 | Website https://www.tucows.com |
Tucows Inc. engages in the provision network access, domain name registration, email, mobile telephony, and other Internet services in North America and Europe. It operates in three segments: Ting, Wavelo, and Tucows Domains. The Ting segment provides gigabit fiber and fixed wireless internet services. Its Wavelo segment offers individual developer tools, subscription, billing management, network orchestration, and provisioning services, as well as billing solutions under Platypus brand. The Tucows Domains segment offers wholesale and retail domain name registration services under OpenSRS, eNom, Ascio, EPAG, and Hover brands, as well as value added services, including hosted email, internet security services, WHOIS privacy, publishing tools, and other related services. The company distributes its services through resellers that operate in 200 countries. The company was formerly known as Infonautics, Inc. and changed its name to Tucows Inc. in August 2001. Tucows Inc. was incorporated in 1992 and is based in Toronto, Canada.
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