Consolidated Top Line Growth
Tucows reported a 10% year-over-year increase in Q2 revenue, marking the fourth consecutive quarter of double-digit top line growth.
Adjusted EBITDA Increase
Adjusted EBITDA increased 37% to $12.6 million in Q2 and $26.2 million year-to-date, slightly ahead of the pace needed to achieve the full-year guidance of $47 million.
Domains Business Performance
Tucows Domains delivered an 8% increase in revenue, 14% growth in gross margin, and a 12% rise in adjusted EBITDA year-over-year.
Wavelo's Record Quarter
Wavelo achieved its best quarter since inception with a 20.5% increase in revenue to $12.7 million, a 23.6% rise in gross margin, and a 37% increase in adjusted EBITDA year-over-year.
Ting's Subscriber Growth
Ting reported a 12% increase in revenue to $16.4 million, driven by an 8% increase in subscribers.
Debt Reduction
Corporate net debt decreased for the fifth consecutive quarter to $190.3 million, with net leverage at 3.14x and interest coverage at 3.99x.
Successful Sale of Non-Strategic Assets
Tucows successfully sold non-strategic assets for $15 million in three transactions and additional assets for $7 million post-Q2, supporting the transition to a pure-play ISP.