Tucows Inc 2026年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2026 OR TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto Commission file number 1-32600 TUCOWS INC.(Exact Name of Registrant as Specified in Its Charter) 96 Mowat Avenue,Toronto, Ontario M6K 3M1, Canada(Address of Principal Executive Offices) (Zip Code) (416) 535-0123(Registrant's Telephone Number,Including Area Code) Securities registered pursuant to Section12(b) of the Exchange Act:Trading Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has beensubject to such filing requirements for the past 90days:Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of Regulation S-T §232.405 of this chapter during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act):Yes☐No☒ As of May 5, 2026, there were 11,149,173 outstanding shares of common stock, no par value, of the registrant. TUCOWS INC.Form10-Q Quarterly ReportINDEXPARTIFINANCIAL INFORMATION Item 1.Condensed Consolidated Financial Statements3Condensed Consolidated Balance Sheets (unaudited)as of March 31, 2026 and December 31, 20253Condensed Consolidated Statements of Operations and Comprehensive Loss(unaudited) for the three months ended March31, 2026 and 20254Condensed Consolidated Statements of Cash Flows (unaudited) for the three months ended March 31, 2026 and 20255Notes to Condensed Consolidated Financial Statements (unaudited)6Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations28Item 3.Quantitative and Qualitative Disclosures About Market Risk45Item 4.Controls and Procedures46 PARTIIOTHER INFORMATION Item 1.Legal Proceedings47Item 1A.Risk Factors47Item 2.Unregistered Sales of Equity Securities and Use of Proceeds47Item 3.Defaults Upon Senior Securities47Item 4.Mine Safety Disclosures47Item 5.Other Information47Item 6.Exhibits48Signatures49 TRADEMARKS, TRADE NAMES AND SERVICE MARKS Tucows®, EPAG®, Hover®, OpenSRS®, Ting®, ENom®, Ascio®, Simply Bits® andWavelo® are registered trademarks ofTucows Inc. or its subsidiaries. Other service marks, trademarks and trade names of Tucows Inc. or its subsidiaries may be used in thisQuarterly Report on Form 10-Q(this “QuarterlyReport”). All other service marks, trademarks and trade names referred to in thisQuarterlyReport are the property of their respective owners. Solely for convenience, any trademarks referred to in thisQuarterly Report may appearwithout the ® or TM symbol, but such references are not intended to indicate, in any way, that we or the owner of such trademark, asapplicable, will not assert, to the fullest extent under applicable law, our or its rights, or the right of the applicable licensor, to thesetrademarks. PARTI.FINANCIAL INFORMATIONItem 1. Condensed Consolidated Financial StatementsTucowsInc.Condensed Consolidated Balance Sheets (Dollar amounts in thousands of U.S. dollars)(unaudited) TucowsInc.Condensed Consolidated Statements of Cash Flows (Dollar amounts in thousands of U.S. dollars)(unaudited) NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED) 1. Organization of the Company Tucows Inc. (referred to as the “Company”, “Tucows”, “we”, “us” or through similar expressions) is a corporate parent, allocatingcapital and providing efficient shared services to its three businesses: Ting, Wavelo and Tucows Domains Services. Ting provides retailconsumers and businesses with high-speed fixed Internet access in a number of towns and cities across the United States. Wavelo offersplatform services which provide solutions to support Communication Service Providers ("CSPs") including subscription and billingmanagement, network orchestration and provisioning, individual developer tools, and other professional services. Tucows Domains Servicesis