Ting Divestiture Process Ongoing
Management reports the Ting asset sale process is ongoing and has not been delayed by recent market volatility; the company remains deeply engaged with financial advisers and is working through diligence and stakeholder coordination.
Immediate Liquidity Position (Excluding Ting)
Tucows reports approximately $20.9 million of unrestricted cash (liquidity excluding Ting) and describes liquidity as sound, with an immediate focus on consistent free cash flow generation and further balance sheet strengthening.
Syndicated Debt Deleveraging in Progress
The company is actively paying down its syndicated debt; management notes each dollar repaid increases available borrowing capacity up to committed limits, with deleveraging central to improving liquidity and financial flexibility.
Conservative, Structured Capital Allocation
Board renewed an annual buyback authorization that provides flexibility (not a commitment). Management is developing a formal capital allocation framework to balance deleveraging, reinvestment, potential M&A and share repurchases based on return thresholds and liquidity.
Ongoing Investments to Grow Wavelo with Cost Discipline
Management is investing to grow Wavelo's top line and states Wavelo's cost structure remains below competitors despite increased investment; some 2025 investments are positioned to support growth into 2026.