Reglikedomain industry desk

Tucows notes earnings, counting flat domain revenue

Tucows notes earnings, counting flat domain revenue

Expired domains weigh on revenue growth at Tucows.

Picture of stock ticker board with words "earnings notice" below it

Tucows (NASDAQ: TCX) noted earnings following the market closed yesterday.

Q2 revenue was $85.0 million, up 2% from the same quarter a year ago. The firm noted a loss of $31.0 million, with $14.7 million of that associated with the early redemption of a portion of Ting preferred shares.

The domain business noted $60.0 million revenue, down from $61.0 million a year ago. Tucows blames regarding half of this decline on lower revenue from expired domain sales.

Revenue from Ting, the firm’s internet service, grew 21% to $12.4 million. Wavelo, a back-end telecom management product, noted a jump of 20% to $10.8 million.

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