TUCOWS, INC. QUARTERLY KPI SUMMARY
Operating Statistics
(Amounts in thousands)
QUARTERLY
YTD
ANNUAL
TING
Internet Subscribers under management3
Internet Subscribers under management - Net additions Owned Infrastructure Serviceable Addresses1,3
Owned Infrastructure Serviceable Addresses - Net additions1,3 Partner Infrastructure Serviceable Addresses1
Partner Infrastructure Serviceable Addresses - Net additions1 Fiber Capital Expenditures - Consumption2
TUCOWS DOMAINS Domains under management
Total new, renewed and transferred-in domain name registrations provisioned4
Q1/23
36.7
2.2
101.6
5.4
19.8
0.3 $23,200
24,483
5,963
Q4/22
34.5
2.0
96.2
6.4
19.5
0.8 $23,600
24,390
5,157
Q3/22
32.6
2.3
89.8
4.3
18.7
0.5 $23,700
24,504
5,234
Q2/22
30.3
2.5
85.5
4.4
18.2
1.2 $24,900
24,844
5,432
Q1/22
27.8
2.3
81.1
5.2
17.0
1.8 $14,050
25,020
5,951
2023
36.7
2.2
101.6
5.4
19.8
0.3 $23,200
24,483
5,963
2022
34.5
9.0
96.2
20.3
19.5
4.3 $86,250
24,390
21,774
2021
25.5
10.1
75.9
26.6
15.2
4.9 $56,200
25,163
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 The Company's life-to-date Fiber capex investment since February 2015 is $292.8 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.
TUCOWS, INC. QUARTERLY KPI SUMMARY
Summary Ting Financial Results
(In thousands of US dollars)
QUARTERLY
YTD
ANNUAL
Q1/23 | Q4/22 | Q3/22 | Q2/22 | Q1/22 |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
2023 2022 2021
(Unaudited) (Unaudited) (Unaudited)
Mature Market Contribution1 | $1,952 | $2,432 | $2,257 | $1,557 | $1,617 | $1,952 | $7,863 | $6,336 | ||||||||
Growing and Other Market Contribution2 | (1,461) | (1,214) | (1,001) | (779) | (450) | (1,461) | (3,444) | (4,541) | ||||||||
Subtotal Market Level Contribution | 491 | 1,218 | 1,256 | 778 | 1,167 | 491 | 4,419 | 1,795 | ||||||||
Construction Opex3 | (4,070) | (3,477) | (2,371) | (3,290) | (2,459) | (4,070) | (11,597) | (8,249) | ||||||||
National Opex4 | (5,694) | (3,752) | (3,925) | (3,673) | (3,029) | (5,694) | (14,379) | (12,324) | ||||||||
Subtotal Head-office OpEx | (9,764) | (7,229) | (6,296) | (6,963) | (5,488) | (9,764) | (25,976) | (20,573) | ||||||||
Total Ting Adjusted EBITDA5 | (9,273) | (6,011) | (5,040) | (6,185) | (4,321) | (9,273) | (21,557) | (18,778) | ||||||||
Fiber Capex | $23,200 |
$23,600
$23,700
$24,900
$14,050
$23,200
$86,250
$56,200
1 Contributions from subsets of markets with weighted average age of serviceable addresses greater than 24 months, not including markets operating under brands acquired in recent acquisitions; Cedar and Simply Bits. The definition was updated in Q2 2022. The historical results were restated to reflect the refined definition.
2 Contributions from subsets of markets with weighted average age of serviceable addresses less than 24 months as well as all markets operating under brands acquired in recent acquisitions; Cedar and Simply Bits. The definition was updated in Q2 2022. The historical results were restated to reflect the refined definition.
3 Represents front-loaded growth opex that is incurred to enable expansion of the Ting Network. This includes construction, market development, and management of local installation operations.
4 Represents recurring, scalable opex that is incurred to attract and retain subscribers and manage the overall Ting business. This includes sales and marketing, product management, network operations, and allocated corporate shared services.
5 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, 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
TUCOWS, INC. QUARTERLY KPI SUMMARY
Summary of Historical Financial Results
(In thousands of US dollars)
QUARTERLY
YTD
ANNUAL
Q1/23 | Q4/22 | Q3/22 | Q2/22 | Q1/22 |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
2023 2022 2021
(Unaudited) (Unaudited) (Unaudited)
REVENUE | ||||||||||||||
Ting | $11,853 | $11,470 | $10,946 | $10,221 | $9,788 | |||||||||
$11,853 | ||||||||||||||
Wavelo | 7,300 | 4,479 | 4,048 | 8,970 | 6,847 | |||||||||
7,300 | ||||||||||||||
Tucows Domains | 59,242 | 60,268 | 60,281 | 61,063 | 61,546 | 59,242 | ||||||||
Tucows Corporate1 | 2,035 | 2,035 | ||||||||||||
2,692 | 2,775 | 2,830 | 2,918 | |||||||||||
TOTAL REVENUE | 80,430 | 78,909 | 78,050 | 83,084 | 81,099 | 80,430 | ||||||||
GROSS MARGIN | ||||||||||||||
Ting | 7,868 | |||||||||||||
7,211 | 6,656 | 5,804 | 5,750 | 7,868 | ||||||||||
Wavelo | 6,274 | 3,813 | 7,912 | 5,886 | 6,274 | |||||||||
3,807 | ||||||||||||||
Tucows Domains | 17,521 | 18,402 | 18,170 | 19,963 | 19,734 | 17,521 | ||||||||
Tucows Corporate1 | (523) | (523) | ||||||||||||
244 | 1,109 | 105 | 308 | |||||||||||
Network Expenses | (17,079) | (12,654) | (11,761) | (11,731) | (10,480) | (17,079) | ||||||||
TOTAL GROSS MARGIN | 14,061 | 17,010 | 17,987 | 22,053 | 21,198 | 14,061 | ||||||||
ADJUSTED EBITDA2 | ||||||||||||||
Ting | (9,273) | (6,011) | (5,040) | (6,185) | (4,321) | (9,273) | ||||||||
Wavelo | 335 | (1,142) | (902) | 3,872 | 2,047 | 335 | ||||||||
Tucows Domains | 10,338 | 10,568 | 10,385 | 12,107 | 11,774 | 10,338 | ||||||||
Tucows Corporate | 1,630 | 3,285 | 3,436 | 1,906 | 1,811 | 1,630 | ||||||||
TOTAL ADJUSTED EBITDA2 | $3,030 | $6,700 | $7,879 | $11,700 | $11,311 | $3,030 |
$42,425 $25,327
24,344 16,781
243,158 245,576
11,215 16,653
321,142 304,337
25,421 13,292
21,418 15,473
76,269 78,088
1,766 4,445
(46,626) (33,005)
78,248 78,293
(21,557) (18,778)
3,875 7,334
44,834 47,765
10,438 12,500
$37,590 $48,821
1 Tucows Corporate Revenue and Gross Margin includes revenue from retail mobile services, transition services provided to DISH and intercompany revenue eliminations.
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, 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.
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Tucows Inc. published this content on 08 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2023 21:16:12 UTC.