Tucows Inc. operates internet services businesses spanning domain services, telecommunications software and fiber-optic internet infrastructure. Its recurring news includes quarterly financial results, segment performance across Ting, Wavelo and Tucows Domains, and management commentary on revenue, gross profit, Adjusted EBITDA, network expenses and cash flow.
Company updates also cover capital allocation actions such as common stock repurchase programs, operational efficiency initiatives and leadership changes. Product and business references center on Ting fixed fiber internet access, Wavelo software for service providers, Tucows Domains' reseller network for domain names and value-added services, and Hover domain and email management for individuals and small businesses.
Tucows announced the addition of Michael Koenig as Chief Revenue Officer and Karaka Leslie as Head of People for its Wavelo division on April 14, 2022. Both leaders bring extensive experience, with Koenig focusing on revenue management and Leslie overseeing human resources. Their appointments aim to drive Wavelo's global growth and enhance its mission to provide innovative telecom software solutions. Wavelo, launched in early 2022, partners with DISH Wireless and Ting Internet, contributing to the evolution of the telecom industry.
Ting Internet, a division of Tucows (NASDAQ: TCX), is set to expand its fiber internet services to Aurora, Colorado, marking its largest network build yet. The initiative will service over 130,000 addresses, enhancing connectivity for local businesses and residents. Construction is expected to start in summer 2022, with initial service rollout by year-end. Ting aims to improve internet choice and foster economic growth in the community. The expansion follows successful operations in nearby Centennial and Colorado Springs, where Ting focuses on community engagement and reducing the digital divide.
Wavelo partners with Amazon Web Services (AWS) to provide cloud-native solutions for communication services providers (CSPs), aiming to enhance operational efficiency and customer experience. Their suite includes a modern alternative to OSS/BSS, leveraging event-driven architecture for faster market deployment. CSPs like DISH and Ting Fiber have already integrated Wavelo's platforms for improved service delivery. This collaboration coincides with an industry shift towards 5G and IoT, emphasizing the need for agile telecom software.
Ting Internet, a division of Tucows (NASDAQ: TCX), is set to expand its fiber internet services in Colorado, beginning with a city-wide network in Durango. Starting spring 2022, this initiative aims to enhance local connectivity for residents and businesses, providing higher speeds and reliable service. Ting's previous acquisition of Cedar Holdings Group is pivotal for this expansion, which also includes plans for future builds in Cortez and other Western Slope locations. Ting's mission is to unlock economic development through improved internet access.
Ting Internet, a division of Tucows (NASDAQ: TCX), has launched its fiber internet service in Encinitas, California, marking its fourth market in Southern California. The rollout aims to provide high-speed internet access to nearly 26,000 addresses, with full municipal access expected by the end of 2023. Plans start at $89 per month for gigabit speeds of 1,000 Mbps. Ting’s goal is to enhance connectivity in areas with infrastructure challenges, and it's committed to offering reliable internet through dedicated bandwidth and excellent customer support.
Tucows has approved a $40 million stock buyback program to repurchase its common stock over the next year. This buyback will commence on February 11, 2022, and run until February 10, 2023, replacing the previously announced buyback program. All repurchased shares will be retired and returned to treasury. The buyback will be funded through available working capital and existing credit facilities. As of February 9, 2022, Tucows had 10,753,079 shares outstanding.
Tucows reported its Q4 2021 financial results, highlighting net revenues of $82.5 million, a 17% increase from Q4 2020, driven by growth in Fiber Internet and Mobile Services Enabler businesses. Gross profit rose 41% to $24.6 million. However, the company faced a net loss of $2.0 million, a significant decline compared to a $2.1 million profit in Q4 2020, and adjusted EBITDA decreased slightly by 0.9%. The company reported a notable increase in capital expenditures and substantial growth in its customer base, positioning itself for future revenue opportunities.
Tucows Inc. (NASDAQ: TCX) will release its fourth quarter 2021 financial results on February 10, 2022, at 5:05 p.m. ET. A pre-recorded audio commentary on the quarter and future outlook will be available at 6:00 p.m. ET the same day on their website. Shareholders can submit questions to management until February 18, with responses posted by February 25. Tucows is dedicated to expanding internet access through its various services, including Ting, Wavelo, and OpenSRS.
Tucows has launched Wavelo, a new telecom software business aimed at enhancing the capabilities of communication service providers (CSPs). This cloud-native software simplifies mobile and internet network management, enabling CSPs to maximize their existing infrastructure and improve customer experience. Wavelo offers two primary platforms: ISOS for internet service providers and MONOS for mobile networks, along with bespoke services. The launch comes as the telecom industry seeks modern solutions to drive growth and connectivity.
Ting Internet, a division of Tucows (NASDAQ: TCX), is expanding into Colorado Springs, marking its largest market to date. As the initial anchor tenant on a city-wide fiber network owned by Colorado Springs Utilities, Ting aims to enhance local infrastructure. Construction is set to begin in Q3 2022, reaching over 200,000 addresses. Ting plans to establish a local team and connect with local enterprises, providing fiber internet access in 2023. This partnership supports Colorado Springs Utilities’ goal of advancing technological resilience within the community.