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Tucows ( (TCX) ) just unveiled an update.
Tucows Inc. has initiated a capital efficiency plan, significantly impacting its Ting business by reducing its workforce by 42% and overall company workforce by 17%. This move aims to lower expenses and transition Ting into a self-sustaining, cash-generating entity. While difficult, the plan is essential for enabling growth in Adjusted EBITDA and expanding market penetration. The company anticipates notable financial improvements by 2025, leveraging a more efficient cost structure and recent asset-backed securitization.
Learn more about TCX stock on TipRanks’ Stock Analysis page.