Tucows COVID-19 statement
Tucows is a global business. Our first consideration during the COVID-19 outbreak is for the health and safety of our employees, our customers and their families, all around the world.
On Sunday March 8, Tucows’ leadership announced that all employees who could conceivably work from home should do so. On Monday, March 9 it looked like an overabundance of caution but on the morning of Thursday, March 12, it seemed prescient.
We recognize how important it is that we all do our part to contain this outbreak. Tucows takes that responsibility very seriously, as individuals and as a collective.
Tucows has long encouraged a culture of remote work. We look at work as something people contribute as opposed to a place people go every day. So, while the majority of our workforce is dispersed, we remain productive.
We’re buoyed by the positive spirit the “herd” has brought to this exercise. We’re humbled by our strong culture and community, built by the many individuals and offices around the world that make up our ranks.
We are fortunate that domain registration and mobile phone service can be effectively delivered from our laptops and servers, and are both absolutely central to how people are connecting and transacting today. While fiber-to-the-home requires a physical component, it is also experiencing an upsurge in demand. The state of our business is thankfully very strong.
Businesses the world over are moving quickly to get online. Displaced workers are looking to entrepreneurship as the next stage in their career paths. We saw this trend begin to emerge in late March and it is still going strong. With tens of thousands of resellers and millions of end user customers, our Domains business has proven its staying power through several economic cycles, but we are seeing something singular in this current, unprecedented environment. It feels like years of change being crammed into weeks or months. This is more interesting for what it says about the economy than it is material to our business, as new registrations make up only 20% of total transactions historically.
Mobile phone service is a necessity. As people stay home as much as possible and as such use much less mobile data given that they’re often around Wi-Fi at home, the Ting Mobile pay for what you use model makes even more sense as mobile data use drops across the board.
Like all Tucows businesses, Ting Mobile operates online and without physical storefronts. It is similarly well-positioned to weather the storm.
Early in March, as the contagion risks began to quickly escalate, we proactively suspended new installations, unlike much of our competition. While taking a step back and looking at the installation process in detail, we created a temporary review protocol for urgent installations and repairs, focused on health care facilities and health care workers.
We worked on innovating a smart installation solution that would return us to an acceptable cadence for the duration of the threat from COVID-19, while minimizing contact risk between customers and our teams. We began piloting that process on April 20, and we now have an installation process that enables us to return to home and business installations at a time of unprecedented need for the Ting fiber service.
At the same time, we amplified our local relief efforts, creating free, public, fiber-fed Wi-Fi hotspots in Ting Internet towns, and upgrading all entry-tier customers to symmetrical gigabit for 60 days starting April 1 at no charge.
Ting Internet doesn’t have bandwidth caps or other such limitations. Likewise, Ting Internet’s fiber networks are built with plenty of capacity to accommodate future need. The additional traffic from customers working from home, not to mention the fact that we upgraded every lower-tier user to gigabit service without charge, hasn’t had and won’t have any negative impact.
Ting Internet signed the Keep Americans Connected pledge and has also issued its own COVID-19 statement with more detail.
Tucows and Ting Mobile ask the CRTC to sow the seeds for mobile competition in Canada
– A cell phone user?
– Aware of the fact that Canadians pay among the highest price for cell phone service in the world?
and if not…
– Annoyed by the fact that Canadians pay very nearly the highest price for cell phone service in the world now that you know it?
The CRTC is about to hold a hearing on the Future of Mobile Wireless Service in Canada. They have a survey and are asking for public input and insight. You should fill out their survey. You should also share it with your friends
Tucows a GTA Top 2020 Employer
We are thrilled to announce that Tucows has been selected among the winners of Mediacorp Canada Inc.’s GTA Top Employers for 2020. We are proud to be amongst some incredible companies in the GTA. The Greater Toronto’s Top Employers project is an annual editorial competition. Each year, they determine the top companies and organizations to work for in the Greater Toronto Area. It’s an honour to be included in their awards and we’re excited to be named a GTA Top Employer for 2020!
Ting bringing crazy fast fiber Internet to Solana Beach, CA
Expanding its presence in California, Ting will work with Netly to offer true gigabit Internet in Solana Beach.
SOLANA BEACH, CA, November 5, 2019 — Ting, a division of Tucows (NASDAQ: TCX, TSX: TC) is pleased to announce the next town to get crazy fast fiber Internet. Solana Beach joins Fullerton (announced April 2019) to become the second Ting Town in California and tenth Ting Town in the U.S.
Ting Internet’s mission is to bring better Internet access and exceptional customer experience to cities and towns across the US. Working with public and private infrastructure owners is one of the approaches Ting Internet takes to realize this mission. To that end, Netly (netlyfiber.com) is building the city-wide fiber-optic network in Solana Beach past 7,000 addresses, allowing Ting Internet to focus on lighting the network and offering the very best in customer service.
Residents and businesses can pre-order Ting Internet now at ting.com/solanabeach. Netly anticipates Ting Internet will be able to light the first customers later in 2020.
Ting Internet will offer service on the infrastructure of the future: a gigabit fiber network bringing true fiber to the premises (FttP) of every home and business it serves. In other words, every serviced home or business has its own fiber connection directly to the Internet, enabling lightning-fast, low latency, highly reliable Internet access.
“We’re delighted to bring our brand of crazy fast, super reliable Internet to Solana Beach. We’re also looking forward to working with Netly. We continue to see more diversity in the types of partnerships that can help cities and towns get modern Internet infrastructure. More and more entrepreneurs and capital are being attracted to this generational infrastructure opportunity,” said Elliot Noss, CEO of Ting Internet parent company Tucows.
Ting Internet launched in 2015 in Charlottesville, VA and has since brought fiber access to towns and cities in North Carolina, California, Idaho, Maryland and Colorado.
Pre-orders are open for Solana Beach
Solana Beach residents can pre-order Ting crazy fast fiber Internet now at ting.com/solanabeach. Pre-ordering demonstrates local demand and secures the best possible break on start-up costs on Ting gigabit service, including the full cost of installation. A one-time $9 pre-order is returned as a credit on a customer’s first Ting bill.
Network construction is slated to begin in 2020 and will run in neighborhood phases. These construction phases will be visible on the Solana Beach Ting Town page at ting.com/solanabeach when construction commences. This page will be updated regularly as milestones are reached.
Ting Internet offers symmetrical gigabit fiber Internet for residential, small business, and enterprise customers. Home gigabit Internet costs $89 a month. Business gigabit Internet costs $139 a month. Enterprise Internet service levels, installations and pricing vary and can be discussed with our local Enterprise team.
CEO Elliot Noss, VP Networks Adam Eisner, Director, Market Development and Government Affairs Monica Webb, and other members of the Ting team are always available to speak with local and national media. Well, they may not always be available but they are often happy to chat.
About Ting Internet
Ting Internet provides crazy fast fiber Internet in select US towns and cities. Ting is committed to net neutrality and the open Internet. More than that, Ting is committed to being a part of improving the communities it serves by supporting and championing local good works. Ting sponsors local programs, events, foundations, festivals, charities, and public services everywhere we go, investing in the future of the towns we serve.
Tucows is a provider of network access, domain names and other Internet services. Ting (ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (opensrs.com) and Enom (enom.com) and Ascio (ascio.com) manage over 25 million domain names and millions of value-added services through a global reseller network of over 37,000 web hosts and ISPs. Hover (hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows‘ corporate website (tucows.com).
Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
Tucows investor contact
Ting press contact
Tucows Announces Timing for Q3 2019 Financial Results News Release and Management Commentary: Wednesday, November 6, 2019 at 5:05 P.M. ET
TORONTO, October 23, 2019 – Tucows Inc. (NASDAQ: TCX, TSX: TC) today announced that it will report its third quarter 2019 financial results via news release on Wednesday, November 6, 2019 at 5:05 p.m. ET.
Concurrent with the dissemination of its quarterly financial results news release at 5:05 p.m. ET on Wednesday, November 6, management’s pre-recorded audio commentary (and transcript) discussing the quarter and outlook for the Company will be posted to the Tucows website at https://www.tucows.com/investors/financials. In lieu of a live question and answer period, for the subsequent six days, until Tuesday, November 12, shareholders, analysts and prospective investors can submit questions to Tucows’ management at firstname.lastname@example.org. Management will post responses to questions of general interest (audio recording and transcript) to the Company’s website at https://www.tucows.com/investors/financials/ on Thursday, November 21 at approximately 4:00 p.m. ET. (the Company has extended the period to post its responses this quarter due to its annual Board of Directors offsite meeting). All questions will receive a response, however, questions of a more specific nature may be responded to directly.
Tucows statement regarding the industry Framework to Address Abuse of the DNS
There are a bunch of reasons that we, as a private company working at such a fundamental level of the Internet as the domain name system (DNS), don’t act on content concerns unless compelled by much more than public backlash. None of those reasons are related to money, because we want to protect bad actors online, or because we agree with anything they have to say.
The industry document Framework to Address Abuse was created by a handful of leading DNS operators including Tucows, Amazon, GoDaddy, Donuts, and Afilias. It is the best source to understand how, when, and why these private companies may exercise their authority to deny access to the public DNS.
Our compliance team carefully evaluates all DNS abuse reports that are submitted. In cases where there is evidence of abuse that falls into the Framework, we can and do act to deny access to the DNS via the Tucows platform.
Ting to offer gigabit fiber Internet in Fullerton, CA
Building on Ting Internet’s success in markets across the US, Ting Internet expands its service footprint to California in partnership with SiFi Networks.
April 8, 2019 – Fullerton, CA – Ting, a division of Tucows (NASDAQ: TCX, TSX: TC) is pleased to announce that Fullerton, CA will be the next town to get crazy fast fiber Internet from Ting. Residents can pre-order now at ting.com/fullerton.
Ting will provide service in Fullerton through a partnership with SiFi networks, an international fiber-optic network developer. This partnership model separates the construction, ownership and operation of fiber infrastructure from the provisioning of Internet service and customer support. With SiFi Networks taking on the former, Ting can scale more quickly and focus on its core business strengths of providing ultra-fast, low latency Internet service with a top-rated customer experience.
Ting will be one of two Internet service partners on SiFi’s network. Once completed, the Fullerton build will add just over 50,000 shared serviceable addresses to Ting’s potential addressable market.
“Fullerton is a solid market for us, with a strong, dense and diverse population of families along with colleges, beautiful public spaces, and businesses big and small,” said Elliot Noss, Tucows’ CEO. “Fullerton will be great for our business. We are pleased to embark on a California footprint, to test the Ting brand and customer experience through direct competition, and to see alternative models emerging in the ongoing fiberization of America.”
Ting is part of Tucows, a quietly, wildly successful Internet company founded in 1993 that built its reputation providing products people really want, and an outstanding customer experience. Ting builds, operates, and provides service on fiber networks in select markets across the US, and has differentiated itself from its competition by offering crazy fast symmetrical gigabit fiber Internet access, a deep local presence, and genuinely human customer support. Fullerton will be Ting’s eighth market, and first in southern California.
Ting expects to light its first customers in Fullerton towards the end of this year.
Pre-orders are open for Fullerton
Fullerton residents can pre-order Ting crazy fast fiber Internet now at ting.com/fullerton. A one-time $9 pre-order is returned as a credit on a customer’s first Ting bill. Pre-ordering secures the best possible break on start-up costs on Ting gigabit service, including the full cost of installation.
Ting Internet offers symmetrical gigabit fiber Internet for residential, small business, and enterprise customers. Home gigabit Internet costs $79 a month. Business gigabit Internet costs $139 a month. Enterprise Internet service levels, installations and pricing vary and can be discussed with the Fullerton Enterprise team.
CEO Elliot Noss, VP Networks Adam Eisner, Director, Market Development and Government Affairs Monica Webb, and other members of the Ting team are always available to speak with local and national media. Well, not literally always but you’ll find they’re pretty available and approachable.
About Ting Internet
Ting Internet (ting.com/internet) provides crazy fast fiber Internet to residents and businesses in select US towns and cities, in 5 states. Ting is committed to providing an outstanding customer experience, and being a part of investing in the communities it serves by supporting and championing local good works and innovation.
Tucows is a provider of network access, domain names and other Internet services. Ting (ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (opensrs.com), Enom (enom.com) and Ascio (ascio.com) manage a combined 25 million domain names and millions of value-added services through a global reseller network of over 37,000 web hosts and ISPs. Hover (hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows‘ corporate website (tucows.com).
Tucows, Ting, OpenSRS, Enom, Ascio
Tucows investor contact
Ting press contact
Tucows Inc. Acquires Wholesale Domain Registrar Ascio Technologies
European registrar brings incremental scale, additional domain products and a high-quality reseller base to Tucows’ domains business.
TORONTO, March 19, 2019 — Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, announced that it has signed a definitive agreement to acquire wholesale domain name registrar Ascio Technologies from CSC®. The transaction closed yesterday.
Tucows will pay $29.44 million and the transaction is expected to be immediately accretive to operating cash flow. The purchase price will be funded through Tucows’ existing credit facility.
The acquisition of Ascio adds approximately 1.8 million domains under management and approximately 500 active resellers. The Ascio reseller base fits squarely with Tucows’ core customer profile — ISPs, web hosting companies and website builders serving quality businesses that reward outstanding customer service with long-term loyalty.
Ascio also expands Tucows’ product portfolio with one of the most complete offerings of country code TLDs (ccTLDs) and generic TLDs (gTLDs) in the world.
Jørgen Christensen, Managing Director of Ascio commented, “This deal is all about focus. We wanted to find a buyer who would focus on our resellers so that CSC can focus on managing brands for the biggest and best companies around the world.”
“This acquisition makes perfect sense for Ascio’s resellers, our business and our shareholders,” added David Woroch, Tucows’ Executive Vice President of Domains. “Ascio’s resellers get a customer-focused provider that is investing in its wholesale channel. Tucows gets an excellent business with a deeply experienced team, additional domain products, including more than 50 ccTLDs, and a high-quality customer base that strengthens our European presence. And our shareholders get the benefit of Tucows’ even greater scale and efficiency as the world’s largest wholesale domain registrar.”
The contribution from this transaction, based on a partial year and transaction costs, was contemplated in the 2019 guidance provided by Tucows on February 13, 2019. Pre-acquisition, the Ascio business generated approximately $4 million of annual EBITDA. Tucows is required to apply acquisition accounting to the assets and liabilities acquired, including fair valuation of the acquired deferred revenue balance, which will lower the reported Adjusted EBITDA1 contribution in the first approximately one year period following the acquisition. The acquisition is expected to provide synergies over the next 12 to 18 months which, along with the inclusion of full year financial results, is expected to generate an internal rate of return and multiple that are in line with Company benchmarks.
Ascio Technologies was founded in 1999, and is an accredited domain registrar under the Internet Corporation for Assigned Names and Numbers with approximately 1.8 million domains under management. Ascio is a part of the family of brands under CSC.
CSC is the world’s leading provider of business, legal, tax, and digital brand services to companies around the globe. From keeping businesses in compliance and streamlining operations, to protecting and promoting brands online, CSC uses its expertise and personal approach to help businesses run smoother. CSC is the business behind business. It is the trusted partner for 90% of the Fortune 500®, more than 65% of the Best Global Brands (Interbrand®), nearly 10,000 law firms, and more than 3,000 financial organizations. Headquartered in Wilmington, Delaware, USA, since 1899, CSC has offices throughout the United States, Canada, Europe, and the Asia-Pacific region. CSC is a global company capable of doing business wherever its clients are—and it accomplishes that by employing experts in every business it serves. Learn more at https://www.cscglobal.com.
Tucows is a provider of network access, domain names and other Internet services. Ting (https://ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (http://opensrs.com) and Enom (http://www.enom.com) manage a combined 23 million domain names and millions of value-added services through a global reseller network of over 37,000 web hosts and ISPs. Hover (http://hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows’ corporate website (https://www.tucows.com).
Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
1. Adjusted EBITDA
Tucows reports all financial information required in accordance with United States generally accepted accounting principles (GAAP). Along with this information, to assist financial statement users in an assessment of our historical performance, the Company typically discloses and discusses a non-GAAP financial measure, adjusted EBITDA, in press releases and on investor conference calls and related events that exclude certain non-cash and other charges as the Company believes that the non-GAAP information enhances investors’ overall understanding of our financial performance.
The Company believes that the provision of this supplemental non-GAAP measure allows investors to evaluate the operational and financial performance of the Company’s core business using similar evaluation measures to those used by management. The Company uses adjusted EBITDA to measure its performance and prepare its budgets. Since adjusted EBITDA is a non-GAAP financial performance measure, the Company’s calculation of adjusted EBITDA may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation, as a substitute for, or superior to measures of financial performance prepared in accordance with GAAP. Because adjusted EBITDA is calculated before recurring cash charges, including interest expense and taxes, and is not adjusted for capital expenditures or other recurring cash requirements of the business, it should not be considered as a liquidity measure. Non-GAAP financial measures do not reflect a comprehensive system of accounting and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies and/or analysts and may differ from period to period. The Company endeavors to compensate for these limitations by providing the relevant disclosure of the items excluded in the calculation of adjusted EBITDA to net income based on U.S. GAAP, which should be considered when evaluating the Company’s results. Tucows strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure.
The Company’s adjusted EBITDA definition excludes depreciation, amortization of intangible assets, income tax provision, interest expense, interest income, stock-based compensation, asset impairment, gains and losses from unrealized foreign currency transactions and infrequently occurring items, 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 unhedged foreign currency contracts, as well as the unrealized effect from the translation of monetary accounts denominated in non-U.S. dollars to U.S. dollars.
Tucows Reports Continuing Strong Financial Results for Fourth Quarter and Full Year 2018
TORONTO, February 13, 2019 – Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, today reported its financial results for the fourth quarter ended December 31, 2018. All figures are in U.S. dollars.
Tucows Announces $40 Million Stock Buyback Program
TORONTO, February 13, 2019 – Tucows Inc. (NASDAQ:TCX, TSX:TC) today announced that its Board of Directors has approved a stock buyback program to repurchase, from time to time, up to $40 million of its common stock in the open market.
The new $40 million buyback program will commence February 14, 2019 and will terminate on or before February 13, 2020. Purchases for the new $40 million buyback program will be made exclusively through the facilities of the Nasdaq Capital Market. The previously announced $40 million buyback program for the period February 14, 2018 to February 13, 2019 has been terminated.
All shares purchased by Tucows under the stock buyback program will be retired and returned to treasury.
The timing and exact number of common shares purchased will be at Tucows’ discretion and will depend on available cash and market conditions. Tucows may suspend or discontinue the repurchases at any time, including in the event Tucows would be deemed to be making an acquisition of its own shares under Rule 13e-3 of the Securities Exchange Act of 1934, as amended. Subject to applicable securities laws and stock exchange rules, all purchases will occur through the open market and may be in large block purchases. Tucows does not intend to purchase its shares from its management team or other insiders.
The purchase will be funded from available working capital and existing credit facilities. As of February 13, 2019, Tucows had 10,637,965 common shares outstanding.
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
About Tucows Tucows is a provider of network access, domain names and other Internet services. Ting (https://ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (http://opensrs.com) and Enom (http://www.enom.com) manage a combined 23 million domain names and millions of value-added services through a global reseller network of over 37,000 web hosts and ISPs. Hover (http://hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows’ corporate website (https://www.tucows.com).
This release includes forward-looking statements as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995 including statements regarding our expectations regarding our future financial results and, including, without limitation, our expectation regarding our ability to realize synergies from the Enom acquisition and our expectation for growth of Ting Internet. These statements are based on management’s current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Information about other potential factors that could affect Tucows’ business, results of operations and financial condition is included in the Risk Factors sections of Tucows’ filings with the Securities and Exchange Commission. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. All forward-looking statements are based on information available to Tucows as of the date they are made. Tucows assumes no obligation to update any forward-looking statements, except as may be required by law.
Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
Contact: Lawrence Chamberlain (416) 519-4196 email@example.com