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Tucows Inc.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Total Revenue 362.3M 339.3M 321.1M 304.3M
Operating Revenue 362.3M 339.3M 321.1M 304.3M
Cost Of Revenue 279.2M 272.7M 242.9M 226.0M
Gross Profit 83.0M 66.7M 78.2M 78.3M
Selling General And Administration 96.5M 101.2M 84.8M 61.8M
General And Administrative Expense 37.1M 33.4M 30.8M 22.4M
Research And Development 18.6M 19.2M 14.2M 14.3M
Depreciation And Amortization In Income Statement 4.3M 9.9M 10.5M 10.0M
Operating Expense 119.4M 130.3M 109.4M 86.1M
Operating Income -36.3M -63.7M -31.2M -7.8M
EBIT -47.4M -56.8M -13.2M 11.9M
Interest Expense 54.4M 46.3M 14.6M 4.6M
Interest Expense Non Operating 54.4M 46.3M 14.6M 4.6M
Interest Income 3.2M 4.5M 132,000 --
Interest Income Non Operating 3.2M 4.5M 132,000 --
Net Interest Income -51.3M -41.8M -14.5M -4.6M
Other Income Expense -14.3M 2.4M 17.9M 19.7M
Other Non Operating Income Expenses 436,000 -- -177,000 -370,000
Special Income Charges -14.7M 2.4M 18.0M 19.8M
Restructuring And Mergern Acquisition 11.0M 0.00 0.00 --
Write Off -- -- 0.00 0.00
Gain On Sale Of Security -- -- -- 277,000
Pretax Income -101.9M -103.1M -27.8M 7.3M
Tax Provision 8.0M -6.9M -217,000 3.9M
Tax Effect Of Unusual Items -2.2M 164,710 140,923 5.3M
Net Income From Continuing And Discontinued Operation -109.9M -96.2M -27.6M 3.4M
Net Income From Continuing Operation Net Minority Interest -109.9M -96.2M -27.6M 3.4M
Net Income Including Noncontrolling Interests -109.9M -96.2M -27.6M 3.4M
Net Income Common Stockholders -109.9M -96.2M -27.6M 3.4M
Net Income -109.9M -96.2M -27.6M 3.4M
EBITDA -1.8M -9.6M 26.4M 39.9M
Normalized EBITDA 12.9M -11.9M 8.3M 19.8M
Reconciled Depreciation 45.6M 47.3M 39.6M 28.0M
Basic EPS -10.02 -8.85 -2.56 0.32
Diluted EPS -10.02 -8.85 -2.56 0.31
Basic Average Shares 11.0M 10.9M 10.8M 10.7M
Diluted Average Shares 11.0M 10.9M 10.8M 10.8M
Total Unusual Items -14.7M 2.4M 18.0M 20.1M
Total Unusual Items Excluding Goodwill -14.7M 2.4M 18.0M 20.1M
Tax Rate For Calcs 0.15 0.07 0.01 0.27
Normalized Income -97.4M -98.4M -45.5M -11.4M
Amortization 3.8M 9.3M 9.9M 9.4M
Amortization Of Intangibles Income Statement 3.8M 9.3M 9.9M 9.4M
Depreciation Amortization Depletion Income Statement 4.3M 9.9M 10.5M 10.0M
Depreciation Income Statement 451,000 567,000 598,000 534,000
Diluted NI Availto Com Stockholders -109.9M -96.2M -27.6M 3.4M
Gain On Sale Of Ppe 14.0M 17.0M 18.0M 19.8M
Impairment Of Capital Assets 17.7M 0.00 0.00 0.00
Net Income Continuous Operations -109.9M -96.2M -27.6M 3.4M
Net Non Operating Interest Income Expense -51.3M -41.8M -14.5M -4.6M
Other Gand A 37.1M 33.4M 30.8M 22.4M
Other Special Charges -- 14.7M -- --
Reconciled Cost Of Revenue 237.9M 235.3M 213.8M 208.0M
Selling And Marketing Expense 59.4M 67.8M 53.9M 39.5M
Total Expenses 398.6M 403.0M 352.3M 312.2M
Total Operating Income As Reported -65.0M -63.7M -31.7M -7.8M
Line Item FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Cash And Cash Equivalents 56.9M 92.7M 23.5M 9.1M
Cash Cash Equivalents And Short Term Investments 56.9M 92.7M 23.5M 9.1M
Accounts Receivable 20.9M 22.2M 18.4M 14.6M
Receivables 21.1M 24.3M 26.0M 18.8M
Inventory 4.0M 6.8M 7.3M 3.3M
Prepaid Assets 17.3M 17.4M 17.0M 21.0M
Current Assets 205.4M 242.8M 169.9M 147.0M
Gross PPE 523.4M 483.8M 380.0M 244.3M
Accumulated Depreciation -156.7M -116.7M -78.1M -54.1M
Net PPE 366.7M 367.1M 302.0M 190.2M
Goodwill 130.4M 130.4M 130.4M 130.4M
Goodwill And Other Intangible Assets 155.2M 159.9M 170.2M 180.8M
Other Intangible Assets 24.8M 29.5M 39.8M 50.4M
Investments And Advances 2.0M 2.0M 2.0M 2.0M
Total Non Current Assets 553.4M 555.7M 494.8M 392.6M
Total Assets 758.8M 798.4M 664.7M 539.6M
Current Debt And Capital Lease Obligation 5.2M 5.4M 4.6M 3.1M
Accounts Payable 9.0M 12.7M 17.2M 10.0M
Payables 9.9M 14.5M 20.2M 11.0M
Payables And Accrued Expenses 41.1M 49.9M 42.9M 26.2M
Current Accrued Expenses 31.2M 35.4M 22.7M 15.2M
Current Deferred Revenue 152.3M 146.1M 138.7M 141.1M
Other Current Liabilities 1.3M -- 2.0M 3.2M
Current Liabilities 199.9M 201.3M 188.2M 173.7M
Long Term Debt 482.1M 433.2M 238.9M 190.7M
Long Term Debt And Capital Lease Obligation 508.0M 451.5M 251.4M 202.6M
Long Term Capital Lease Obligation 25.9M 18.3M 12.4M 11.9M
Other Non Current Liabilities -- -- -- 1.8M
Total Non Current Liabilities Net Minority Interest 654.2M 587.2M 379.9M 250.8M
Total Liabilities Net Minority Interest 854.1M 788.6M 568.1M 424.5M
Common Stock 36.6M 34.4M 31.9M 28.5M
Capital Stock 36.6M 34.4M 31.9M 28.5M
Additional Paid In Capital 19.2M 14.1M 8.1M 2.8M
Retained Earnings -150.2M -40.3M 55.9M 83.5M
Gains Losses Not Affecting Retained Earnings -964,000 1.7M 784,000 343,000
Other Equity Adjustments -964,000 1.7M 784,000 343,000
Common Stock Equity -95.3M 9.9M 96.7M 115.1M
Stockholders Equity -95.3M 9.9M 96.7M 115.1M
Total Equity Gross Minority Interest -95.3M 9.9M 96.7M 115.1M
Total Capitalization 386.8M 443.1M 335.6M 305.8M
Net Tangible Assets -250.5M -150.0M -73.5M -65.7M
Tangible Book Value -250.5M -150.0M -73.5M -65.7M
Working Capital 5.5M 41.4M -18.3M -26.7M
Invested Capital 386.8M 443.1M 335.6M 305.8M
Total Debt 513.1M 456.9M 256.0M 205.8M
Net Debt 425.2M 340.6M 215.4M 181.6M
Share Issued 11.0M 10.9M 10.8M 10.7M
Ordinary Shares Number 11.0M 10.9M 10.8M 10.7M
Allowance For Doubtful Accounts Receivable -923,000 -511,000 -693,000 -541,000
Buildings And Improvements 9.2M 9.1M 8.9M 9.1M
Capital Lease Obligations 31.0M 23.7M 17.1M 15.0M
Construction In Progress 25.8M 75.5M 62.6M 29.4M
Current Capital Lease Obligation 5.2M 5.4M 4.6M 3.1M
Current Deferred Assets 101.5M 95.6M 94.2M 94.5M
Current Deferred Liabilities 152.3M 146.1M 138.7M 141.1M
Derivative Product Liabilities -- -- -- 0.00
Financial Assets -- -- 0.00 278,000
Gross Accounts Receivable 21.8M 22.7M 19.1M 15.1M
Hedging Assets Current 0.00 2.3M 1.9M 299,000
Income Tax Payable 263,000 1.2M 2.2M 102,000
Land And Improvements 1.1M 1.1M 1.1M 1.1M
Leases 743,000 727,000 624,000 548,000
Machinery Furniture Equipment 119.1M 106.6M 81.4M 55.0M
Non Current Accounts Receivable -- -- 2.3M --
Non Current Deferred Assets 17.8M 18.0M 18.3M 19.3M
Non Current Deferred Liabilities 24.1M 24.3M 38.0M 46.2M
Non Current Deferred Revenue 21.2M 21.4M 22.2M 23.7M
Non Current Deferred Taxes Assets -- -- 0.00 22,000
Non Current Deferred Taxes Liabilities 3.0M 3.0M 15.7M 22.6M
Non Current Note Receivables 11.7M 8.7M 0.00 --
Other Payable 623,000 609,000 809,000 882,000
Other Properties 367.5M 290.7M 225.5M 149.0M
Other Receivables -- 1.4M 5.2M 778,000
Preferred Securities Outside Stock Equity 122.2M 111.4M 90.4M 0.00
Preferred Stock -- -- -- 0.00
Properties 0.00 0.00 0.00 0.00
Restricted Cash 4.6M 3.6M 0.00 --
Taxes Receivable 217,000 709,000 2.5M 3.5M
Total Tax Payable 263,000 1.2M 2.2M 102,000
Tradeand Other Payables Non Current -- 0.00 142,000 170,000
Line Item FY 2024Dec 31, 2024 FY 2023Dec 31, 2023 FY 2022Dec 31, 2022 FY 2021Dec 31, 2021
Operating Cash Flow -19.7M -4.8M 19.9M 29.6M
Cash Flow From Continuing Operating Activities -19.7M -4.8M 19.9M 29.6M
Depreciation And Amortization 45.6M 47.3M 39.6M 28.0M
Depreciation Amortization Depletion 45.6M 47.3M 39.6M 28.0M
Stock Based Compensation 7.0M 8.1M 7.6M 4.6M
Deferred Tax 854,000 -13.0M -7.0M -1.3M
Deferred Income Tax 854,000 -13.0M -7.0M -1.3M
Change In Working Capital 4.0M 12.5M 5.0M -2.0M
Changes In Account Receivables 1.3M -3.8M -3.8M 1.6M
Change In Receivables 2.3M 3.0M -7.2M -586,000
Change In Inventory 2.8M 361,000 -4.0M -787,000
Change In Payables And Accrued Expense -1.6M 3.4M 14.1M 8.8M
Change In Payable -3.4M -5.7M 6.7M 4.0M
Change In Other Working Capital 139,000 6.1M -1.8M -5.5M
Other Non Cash Items 4.0M 1.0M -1.9M -2.2M
Capital Expenditure -57.0M -92.6M -137.5M -73.9M
Purchase Of PPE -56.5M -92.1M -136.7M -73.2M
Net PPE Purchase And Sale -55.9M -92.1M -136.7M -72.7M
Purchase Of Business -- 0.00 0.00 -26.5M
Purchase Of Investment -- 0.00 0.00 -2.0M
Net Investment Purchase And Sale -- 0.00 0.00 -2.0M
Investing Cash Flow -56.5M -92.6M -137.5M -102.0M
Cash Flow From Continuing Investing Activities -56.5M -92.6M -137.5M -102.0M
Issuance Of Debt 63.0M 279.6M 48.3M 69.0M
Repayment Of Debt -16.5M -81.9M -748,000 -296,000
Net Issuance Payments Of Debt 46.5M 197.7M 47.6M 68.7M
Issuance Of Capital Stock 0.00 35.0M 87.5M 0.00
Repurchase Of Capital Stock 0.00 -45.7M 0.00 0.00
Net Common Stock Issuance -- -- 0.00 0.00
Common Stock Payments -- -- 0.00 0.00
Financing Cash Flow 44.5M 178.8M 132.0M 73.1M
Cash Flow From Continuing Financing Activities 44.5M 178.8M 132.0M 73.1M
Changes In Cash -31.7M 81.5M 14.4M 794,000
Beginning Cash Position 105.0M 23.5M 9.1M 8.3M
End Cash Position 73.2M 105.0M 23.5M 9.1M
Free Cash Flow -76.8M -97.4M -117.6M -44.3M
Income Tax Paid Supplemental Data 7.7M 4.9M 3.9M 8.8M
Interest Paid Supplemental Data 38.0M 24.7M 10.3M 4.5M
Amortization Cash Flow 5.3M 10.8M 11.4M 10.0M
Amortization Of Intangibles 5.3M 10.8M 11.4M 10.0M
Amortization Of Securities 9.8M 14.2M 3.9M 0.00
Asset Impairment Charge 19.2M 5.1M 92,000 201,000
Change In Account Payable -3.4M -5.3M 6.8M 4.1M
Change In Accrued Expense 1.8M 9.0M 7.4M 4.9M
Change In Prepaid Assets 331,000 -382,000 4.0M -4.0M
Depreciation 40.3M 36.4M 28.2M 18.0M
Earnings Losses From Equity Investments -258,000 0.00 0.00 --
Excess Tax Benefit From Stock Based Compensation 0.00 0.00 -193,000 -1.6M
Gain Loss On Investment Securities -- 1.6M 281,000 606,000
Gain Loss On Sale Of PPE 7,000 5,000 7,000 1,000
Long Term Debt Issuance 63.0M 279.6M 48.3M 69.0M
Long Term Debt Payments -16.5M -81.9M -748,000 -296,000
Net Business Purchase And Sale -- 0.00 0.00 -26.5M
Net Income From Continuing Operations -109.9M -96.2M -27.6M 3.4M
Net Intangibles Purchase And Sale -575,000 -528,000 -782,000 -774,000
Net Long Term Debt Issuance 46.5M 197.7M 47.6M 68.7M
Net Other Financing Charges -2.0M -8.2M -4.1M -387,000
Net Preferred Stock Issuance 0.00 -10.7M 87.5M 0.00
Operating Gains Losses -251,000 16.3M 288,000 607,000
Preferred Stock Issuance 0.00 35.0M 87.5M 0.00
Preferred Stock Payments 0.00 -45.7M -- --
Proceeds From Stock Option Exercised 43,000 0.00 1.1M 4.8M
Purchase Of Intangibles -575,000 -528,000 -782,000 -774,000
Sale Of PPE 542,000 0.00 0.00 510,000
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