2023 Q3 TCX results KPI summary.pdf
TUCOWS, INC. QUARTERLY KPI SUMMARY
Operating Statistics
(Amounts in thousands)
| QUARTERLY | YTD | ANNUAL | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Q3/23 | Q2/23 | Q1/23 | Q4/22 | Q3/22 | Q2/22 | Q1/22 | 2023 | 2022 | 2021 | |
| TING | ||||||||||
| Internet Subscribers under management3 | 41.1 | 38.6 | 36.7 | 34.5 | 32.6 | 30.3 | 27.8 | 41.1 | 34.5 | 25.5 |
| Internet Subscribers under management- Net additions | 2.6 | 1.9 | 2.2 | 2.0 | 2.3 | 2.5 | 2.3 | 6.7 | 9.0 | 10.1 |
| Owned Infrastructure Serviceable Addresses1,3,5 | 114.5 | 109.3 | 101.2 | 95.8 | 89.8 | 85.5 | 81.1 | 114.5 | 95.8 | 75.9 |
| Owned Infrastructure Serviceable Addresses-Net additions1,3,5 | 5.2 | 8.1 | 5.4 | 6.0 | 4.3 | 4.4 | 5.2 | 18.7 | 19.9 | 26.6 |
| Partner Infrastructure Serviceable Addresses1,5 | 25.4 | 21.1 | 19.4 | 19.1 | 18.7 | 18.2 | 17.0 | 25.4 | 19.1 | 15.2 |
| Partner Infrastructure Serviceable Addresses-Net additions1,5 | 4.3 | 1.7 | 0.3 | 0.4 | 0.5 | 1.2 | 1.8 | 6.3 | 3.9 | 4.9 |
| Fiber Capital Expenditures-Consumption2 | $17,250 | $21,800 | $23,200 | $23,600 | $23,700 | $24,900 | $14,050 | $62,250 | $86,250 | $56,200 |
| TUCOWS DOMAINS | ||||||||||
| Domains under management | 24,543 | 24,429 | 24,483 | 24,390 | 24,504 | 24,844 | 25,020 | 24,543 | 24,390 | 25,163 |
| Total new, renewed and transferred-in domain name registrations provisioned4 | 5,391 | 5,424 | 5,963 | 5,157 | 5,234 | 5,432 | 5,951 | 16,778 | 21,774 | 22,530 |
1 Defined as premises to which Ting Owned Infrastructure or Ting Partner Infrastructure has the capability to provide a customer connection in a service area.
2 This includes all capital expenditures used to build and expand the Ting footprint, including construction and activation of the network and customers, capitalized labor, materials and acquisitions. The Company’s life-to-date Fiber capex investment since February 2015 is $329.1 million, including the Blue Ridge Websoft, Cedar Holdings, and Simply Bits acquisitions, net of capex write-offs.
3 Internet Subscribers and Serviceable Addresses from Simply Bits are not included in Ting metrics.
4 Includes all transactions processed under our accreditations for our resellers and our retail brands, as well as transactions processed on behalf of other registrars using our platform.
5 Serviceable addresses were revised for Q1 2023 and Q4 2022 based on new address recognition methodology, resulting in a reduction of 419 Owned Infrastructure Serviceable Addresses and 420 Partner Infrastructure Serviceable Addresses.
Summary of Historical Financial Results
(In thousands of US dollars)
| QUARTERLY | ||||||
|---|---|---|---|---|---|---|
| Q3/23(Unaudited) | Q2/23(Unaudited) | Q1/23(Unaudited) | Q4/22(Unaudited) | Q3/22(Unaudited) | Q2/22(Unaudited) | Q1/22(Unaudited) |
REVENUE
| YTD | ANNUAL | |
|---|---|---|
| 2023 | ||
| (Unaudited) | 2022 | |
| (Unaudited) | 2021 | |
| (Unaudited) |
| Ting | $12,855 | $12,408 | $11,853 | $11,470 | $10,946 | $10,221 | $9,788 | $37,116 | $42,425 | $25,327 |
|---|---|---|---|---|---|---|---|---|---|---|
| Wavelo | 11,074 | 10,751 | 7,300 | 4,479 | 4,048 | 8,970 | 6,847 | 29,125 | 24,344 | 16,781 |
| Tucows Domains | 61,088 | 59,956 | 59,242 | 60,268 | 60,281 | 61,063 | 61,546 | 180,286 | 243,158 | 245,576 |
| Tucows Corporate1 | 1,954 | 1,863 | 2,035 | 2,692 | 2,775 | 2,830 | 2,918 | 5,852 | 11,215 | 16,653 |
| TOTAL REVENUE | 86,971 | 84,978 | 80,430 | 78,909 | 78,050 | 83,084 | 81,099 | 252,379 | 321,142 | 304,337 |
GROSS MARGIN
| Ting | 7,986 | 7,051 | 7,868 | 7,211 | 6,656 | 5,804 | 5,750 | 22,905 | 25,421 | 13,292 |
|---|---|---|---|---|---|---|---|---|---|---|
| Wavelo | 10,504 | 10,052 | 6,274 | 3,807 | 3,813 | 7,912 | 5,886 | 26,830 | 21,418 | 15,473 |
| Tucows Domains | 18,375 | 17,929 | 17,521 | 18,402 | 18,170 | 19,963 | 19,734 | 53,825 | 76,269 | 78,088 |
| Tucows Corporate1 | (611) | (797) | (523) | 244 | 1,109 | 105 | 308 | (1,931) | 1,766 | 4,445 |
| Network Expenses | (19,501) | (16,203) | (17,079) | (12,654) | (11,761) | (11,731) | (10,480) | (52,783) | (46,626) | (33,005) |
| TOTAL GROSS MARGIN | 16,753 | 18,032 | 14,061 | 17,010 | 17,987 | 22,053 | 21,198 | 48,846 | 78,248 | 78,293 |
ADJUSTED EBITDA²
| Ting | (12,176) | (10,336) | (9,273) | (6,011) | (5,040) | (6,185) | (4,321) | (31,785) | (21,557) | (18,778) |
|---|---|---|---|---|---|---|---|---|---|---|
| Wavelo | 4,207 | 3,427 | 335 | (1,142) | (902) | 3,872 | 2,047 | 7,969 | 3,875 | 7,334 |
| Tucows Domains | 10,913 | 10,578 | 10,338 | 10,568 | 10,385 | 12,107 | 11,774 | 31,829 | 44,834 | 47,765 |
| Tucows Corporate | 1,528 | 1,726 | 1,630 | 3,285 | 3,436 | 1,906 | 1,811 | 4,884 | 10,438 | 12,500 |
| TOTAL ADJUSTED EBITDA² | $4,472 | $5,395 | $3,030 | $6,700 | $7,879 | $11,700 | $11,311 | $12,897 | $37,590 | $48,821 |
1 Tucows Corporate Revenue and Gross Margin includes revenue from retail mobile services and transition services provided to DISH.
2 Our adjusted EBITDA definition excludes depreciation, amortization of intangible assets, income tax provision, interest expense (net), accretion of contingent consideration, stock-based compensation, asset impairment, loss on debt extinguishment, gains and losses from unrealized foreign currency transactions and costs that are one-time in nature and not indicative of on-going performance (profitability), including acquisition and transition costs. Gains and losses from unrealized foreign currency transactions removes the unrealized effect of the change in the mark-to-market values on outstanding foreign currency contracts not designated in accounting hedges, as well as the unrealized effect from the translation of monetary accounts denominated in non-U.S. dollars to U.S. dollars.