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      News / Blog

      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.

      About Tucows

      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 and Hover are registered trademarks of Tucows Inc. or its subsidiaries.

      Tucows investor contact
      Lawrence Chamberlain
      416-519-4196
      lawrence.chamberlain@loderockadvisors.com

      Ting press contact
      Ray Weiss
      410-303-5019
      rweiss@weisspr.com?

      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.

      J?rgen 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.

      About Ascio
      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.

      About 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.

      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 (http://tucows.com).

      Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.

      Notes:

      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.

      Contact: 
      Lawrence Chamberlain
      Loderock Advisors
      (416) 519-4196
      lawrence.chamberlain@loderockadvisors.com

      Tucows Reports Continuing Strong Financial Results for Fourth Quarter and Full Year 2018

      – 2018 Highlighted by Record Revenue, Adjusted EBITDA2 and Cash Flow from Operations –

      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.

      Summary Financial Results

      (In Thousands of US Dollars, Except Per Share Data)

      3 Months Ended December 31 12 Months Ended December 31
      2018
      (Unaudited)
      2017
      (Unaudited)
      % Change 2018
      (Unaudited)
      2017
      (Unaudited)
      % Change
      Net revenue 85,612 90,621 -6% 346,013 329,421 5%
      Net income1 4,436 11,199 -60% 17,135 22,327 -23%
      Basic Net earnings per common share1 0.42 1.06 -60% 1.62 2.12 -24%
      Adjusted EBITDA2,3 16,633 15,276 9% 50,057 41,357 21%
      Net cash provided by operating activities 10,668 14,081 -24% 37,209 31,896 17%

      Net Income and Earnings Per Share for the fourth quarter and Fiscal 2017 reflected a net positive implementation impact from the Tax Cuts and Jobs Act of 2017 of $5.8 million and $0.55 per share, respectively. This Non-GAAP financial measure is described below and reconciled to GAAP net income in the accompanying table. Adjusted EBITDA for the fourth quarter and twelve month period of 2017 reflect the impact of the purchase price accounting adjustment related to the fair value write down of deferred revenue from the Enom acquisition which lowered Adjusted EBITDA by $0.8 million and $7.8 million for the fourth quarter and twelve months of 2017, respectively.

      Summary of Revenues and Gross profit

      (In Thousands of US Dollars)

      Revenue Gross profit
      3 Months Ended December 31 3 Months Ended December 31
      2018
      (Unaudited)
      2017
      (Unaudited)
      2018
      (Unaudited)
      2017
      (Unaudited)
      Network Access Services:
      Mobile Services 22,511 23,795 11,093 11,094
      Other Services 2,320 1,590 1,429 651
      Total Network Access Services 24,831 25,385 12,522 11,745
      Domain Services:
      Wholesale
      Domain Services 43,396 48,320 7,752 6,514
      Value Added Services 4,180 4,305 3,438 3,733
      Total Wholesale 47,576 52,625 11,190 10,247
      Retail 8,880 8,711 4,475 4,141
      Portfolio 4,325 3,900 3,900 3,376
      Total Domain Services 60,781 65,236 19,565 17,764
      Network Expenses:
      Network, other costs (2,256) (2,260)
      Network, depreciation and amortization costs (2,100) (1,513)
      Total Network expenses (4,356) (3,773)
      Total 85,612 90,621 27,731 25,736

      “The fourth quarter once again saw solid, consistent performance across the business, highlighted by year-over-year gross profit expansion in both Domains and Network Access and 9% growth in adjusted EBITDA,” said Elliot Noss, President and Chief Executive Officer, Tucows Inc.  “The quarter capped off another record year in terms of revenue, gross profit, adjusted EBITDA and cash flow from operations. As importantly, the cash generation of the Domains and Ting Mobile businesses fueled our build-out of the Ting Internet footprint that will drive our next phase of outsized growth.”

      “Ting Internet made strong, steady progress throughout the year, growing our serviceable addresses, customers and recurring monthly revenue, adding a sixth town early in the year and readying for the seventh announced just last week.   At Ting Mobile, we again delivered strong year-over-year growth in revenue, margin and gross profit. In our Domains business, we made significant progress in the integration of Enom, with more than half of the $5 million in expected EBITDA synergies now realized, as well as the development of the new platform, positioning this business for potential new growth opportunities.”

      “All of these achievements position Tucows for an exciting 2019 in each of our businesses and improving growth that will drive long-term value for our shareholders.”

      Financial Results

      Net revenue for the fourth quarter of 2018 was $85.6 million compared with $90.6 million for the fourth quarter of 2017, with the decrease due primarily to acceleration of revenue related to the bulk transfer of 2.8 million very low margin domain names in the first and third quarters of 2018.  Excluding the impact of these of bulk transfers, net revenue for the fourth quarter of 2018 increased 2% compared to the fourth quarter of 2017.

      Net income for the fourth quarter of 2018 was $4.4 million, or $0.42 per share compared with $11.2 million, or $1.06 per share, for the fourth quarter of 2017.  Net income for the fourth quarter of 2017 was positively impacted by the tax related implementation impacts from the Tax Cuts and Jobs Act of 2017 for $5.8 million or $0.55 per share.

      Adjusted EBITDA1 for the fourth quarter of 2018 increased 9% to $16.6 million from $15.3 million for the fourth quarter of 2017.  

      Cash and cash equivalents at the end of the fourth quarter of 2018 were $12.6 million compared with $10.8 million at the end of the third quarter of 2018 and $18.0 million at the end of the fourth quarter of 2017.

      Notes:

      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 transitions 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.

      The following table reconciles net income to adjusted EBITDA (dollars in thousands):

      3 Months Ended December 31 12 Months Ended December 31
      2018 (unaudited) 2017 (unaudited) 2018 (unaudited) 2017 (unaudited)
      Net income for the period 4,436 11,199 17,135 22,327
      Depreciation of property and equipment 1,716 1,114 5,722 3,727
      Amortization of intangible assets 2,290 2,330 9,243 8,400
      Impairment of intangible assets 110 111
      Interest expense, net 926 865 3,687 3,567
      Provision for income taxes 5,239 (1,032) 9,020 1,748
      Stock-based compensation 670 623 2,574 1,457
      Unrealized loss (gain) on change in fair value of forward contracts 201 54 207 18
      Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities 752 (45) 943 (804)
      Acquisition and transition costs* 403 58 1,526 806
      Adjusted EBITDA 16,633 15,276 50,057 41,357
      *Acquisition and other costs represents transaction-related expenses, transitional expenses, such as duplicative post-acquisition expenses, primarily related to our acquisition of Enom in January 2017. Expenses include severance or transitional costs associated with department, operational or overall company restructuring efforts, including geographic alignments.

      Conference Call

      Concurrent with the dissemination of this news release, management’s pre-recorded remarks discussing the quarter and outlook for the Company have been posted to the Tucows web site at http://www.57minshi.com/investors/financials.  In lieu of a live question and answer period, for the next five days (until Monday, February 18), shareholders, analysts and prospective investors can submit questions to Tucows’ management at ir@tucows.com. Management will post responses to questions of general interest to the Company’s web site at http://www.57minshi.com/investors/financials/ on Tuesday, February 26 at approximately 4:00 p.m. ET.  All questions will receive a response, however, questions of a more specific nature may be responded to directly.

      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 (http://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

      Loderock Advisors

      (416) 519-4196

      lawrence.chamberlain@loderockadvisors.com

      Tucows Announces $40 Million Stock Buyback Program ?

      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 (http://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 lawrence.chamberlain@loderockadvisors.com

      Ting Internet to bring gigabit fiber Internet to Wake Forest, NC

      Building on Ting Internet’s success in Holly Springs and Fuquay-Varina, Ting expands its fiber footprint in North Carolina.

      February 5, 2019 – Wake Forest, NC   Ting, a division of Tucows (NASDAQ: TCX, TSX: TC) is pleased to announce that Wake Forest will be the next town to get crazy fast fiber Internet from Ting. Residents can pre-order now.

      With established markets and operations in nearby Holly Springs and Fuquay-Varina, Ting’s expansion into Wake Forest will benefit from its local brand strength and operational synergies. Once completed, it will also add approximately 10,000 serviceable addresses to Ting’s North Carolina footprint.

      Ting Internet’s mission is to bring true gigabit fiber Internet with an unparalleled customer experience to cities and towns across America. Ting is building the infrastructure of the future: a gigabit fiber network extending to every customer. That means every home or business address connected to the Ting fiber network has its own fiber optic connection into the premises, enabling every user in a home or businesses to experience lightning fast, low latency, highly reliable Internet access.

      “Increasingly, we see that cities and municipalities are looking for better Internet options for their residents and businesses because the incumbents aren’t stepping up,” said Tucows CEO Elliot Noss. “Fiber is the technology that will power smart cities for the next hundred years.”

      In 2015, Ting announced it would bring fiber Internet to Holly Springs, NC, and in 2018 Ting named Fuquay-Varina as the next “Ting Town” in the greater Raleigh, NC area. The charming town of Wake Forest will be the third Ting Internet town in North Carolina, and the seventh in the country.

      “Ting Internet is proud to be expanding into the Town of Wake Forest, which has so many of the qualities we look for in a Ting Town,” added Noss. “It’s a future-focused community with an entrepreneurial spirit and a strong focus on education and progress. It’s a place where community leaders value the importance of fiber infrastructure and all the benefits it will bring to their constituents.”

      Indeed, Ting’s build in Wake Forest would not be possible without the leadership and enthusiasm of the Town.

      “Wake Forest is a growing community comprised of highly-educated, globally-connected residents that rely on high-speed communication to meet their ever-changing needs,” said Wake Forest Mayor, Vivian Jones. “We are extremely excited to welcome Ting to Wake Forest and look forward to experiencing the crazy fast speed and reliability fiber optic service delivers.”

      Ting expects to light its first customers in Wake Forest this summer.

      Pre-orders are open for Wake Forest

      Wake Forest residents can pre-order Ting crazy fast fiber Internet now at ting.com/wakeforest. 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.

      Construction will begin this winter and will run in neighborhood phases. These construction phases will be announced on the dedicated Wake Forest Ting Town page at ting.com/wakeforest. 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 the local Ting 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 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.

      About Tucows

      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) manage over 23 million domain names and millions of value-added services through a global reseller network of over 38,000 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
      Lawrence Chamberlain
      416-519-4196
      lawrence.chamberlain@loderockadvisors.com
      Ting press contact
      Ray Weiss
      410-303-5019
      rweiss@weisspr.com

      Tucows Statement on ICANN Legal Action

      On Friday the 25th of May, ICANN filed a legal action1 against EPAG, a Tucows-owned Registrar based in Bonn, Germany. This action was taken because of a disagreement between Tucows and ICANN on how the GDPR should be interpreted, with respect to our contracts. While we look forward to defending our position in court, the below is intended to provide some context and insight into the dispute.

      The GDPR begins with a statement of its core principle: “The protection of natural persons in relation to the processing of personal data is a fundamental right.” Tucows has long been concerned with privacy and the rights of our customers, and takes the principles enshrined in this law extremely seriously.

      In order to have a domain registration system reflective of “data protection by design and default”, we started with the GDPR itself and crafted our procedures and policies around it. We built a new registration system with consent management processes, and a data flow that aligns with the GDPR’s principles. Throughout the registration life-cycle, we considered things like transparency, accountability, storage limitation, and data minimization.

      We realized that the domain name registration process, as outlined in ICANN’s 2013 Registrar Accreditation Agreement, not only required us to collect and share information we didn’t need, it also required us to collect and share people’s information where we may not have a legal basis to do so. What’s more, it required us to process personal information belonging to people with whom we may not even have a direct relationship, namely the Admin and Tech contacts.

      ICANN’s goal since discussions about the impact of the GDPR on domain registration began has been to preserve as much of the status quo as possible. This has led ICANN to attempt to achieve GDPR-compliant domain registration via ‘process reduction’, as opposed to Tucows’ approach of starting with the GDPR and rebuilding from the ground up. These two approaches have led to significantly different results, and consequently a need to determine whether ICANN’s insistence on the collection of the full thick Whois data and this data’s transfer to gTLD Registries is in compliance with the GDPR. It is this disagreement and need for legal clarity that is at the heart of the lawsuit filed by ICANN.

      On the 17th of May 2018, the ICANN board passed a ‘Temporary Specification2‘, meant to temporarily bring gTLD registration services in line with the GDPR. The goal of the Specification is to serve as a stop-gap while the ICANN community works to resolve and balance issues between privacy law and existing ICANN policy.

      With that background in mind, we perceive three core issues with the Temporary Specification that we do not believe are compliant with the GDPR. These issues are the collection, transfer, and public display of the personal information of domain registrants and the other contractually-mandated contacts.

      Personal Data Collection

      Article 5(1)(c) of the GDPR speaks to data minimization: collecting and processing only what personal data is necessary. It is clear to Tucows that we need to continue capturing some information about the domain Registrant—we always want to ensure we have the ability to contact the person legally responsible for the domain. However, in the vast majority of gTLD registrations, the Registrant (Owner), Admin, and Tech contacts are the same. As such, collection of Admin and Tech contacts is meaningless, as the data belongs to the Registrant.

      That said, in the less common scenario, the Admin or Tech contact does not match the Registrant. In these cases the mandatory collection of their contact data is problematic because it requires us to store and process personal data belonging to people with whom we have no legal or contractual relationship.

      ICANN will need to prove that the minor, marginally incremental benefit of collecting, processing and transferring Admin and Tech contact data at the request of third parties outweighs the principles of data minimization and lawful processing enshrined in the GDPR. We find the argument that duplicative technical contacts are necessary for the security and stability of the DNS implausible. We were not convinced this was the case when we first examined the law, and we remain unconvinced following the release ICANN’s Temporary Specification.

      Tucows will continue to ensure that those with legitimate purposes, including law enforcement, intellectual property, and commercial litigation interests will have access to domain registrant information. On a daily basis, we see plenty of important circumstances wherein we find sharing that information to be legally is necessary, and this will not change. We collect a contact for the owner of each domain name sold on our platforms, and have the ability to contact the owner. When necessary, we also share that contact with law enforcement and others with a legitimate interest.

      Personal Data Transfer to a Registry

      ICANN’s continuing requirement that registrars transmit all data collected to the relevant registry is counter the GDPR’s principle of use of data only when a legitimate legal basis applies. There are circumstances where this transfer is necessary and reasonable, for example where a TLD has specific registrants requirements such as geographic restrictions. We are not opposed to these circumstances, but require agreements between ourselves and the registry for the specific collection, processing and transfer of that personal data.

      However, as the registrar, we collect data that we need in order to enter into a contractual relationship with and provide requested services to the registrant. Transfer of that data to a registry is unnecessary—this is proven by the decades-old ‘thin model’ that 140 million .com and .net domains follow. We don’t feel that the temporary specification offers a robust legal basis for the transfer of data to registries and therefore presents an unacceptable risk under the GDPR.

      Personal Data Display

      ICANN has also required that we continue to publish the organization, state/province, and country fields in the public Whois. We disagree that the organization should be published because, although it is optional, many people do not realize this and put their own first and last names in the organization field. We do not want to expose the personal data of these registrants because of a misunderstanding, and it will take considerable time to educate registrants and cleanse this data from the field.

      Desire for Clarity

      Fundamentally, ICANN and Tucows disagree on how the GDPR impacts our contract. The facts and the law as we see them do not support ICANN’s broader view of what will impact the security and stability of the internet. Neither do we find the purposes outlined in the temporary specification proportional to the risks and consequences of continuing to collect, process and display unnecessary data. We look forward to, and welcome the clarity that will come from this legal action.

      1https://www.icann.org/news/announcement-2018-05-25-en
      2https://www.icann.org/news/announcement-2018-05-17-en

      Tucows Reports Continuing Strong Financial Results for First Quarter 2018

      – Quarter Highlighted by Strong Year-Over-Year Growth Across Key Financial Metrics –

      TORONTO, May 9, 2018 – Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, today reported its financial results for the first quarter ended March 31, 2018. All figures are in U.S. dollars.

      Summary Financial Results

      (In Thousands of US Dollars, Except Per Share Data)

      3 Months Ended March 31
      2018
      (unaudited)
      2017
      (unaudited)
      % Change
      Net revenue 95,796 69,568 38%
      Net income 3,744 2,446 53%
      Basic Net earnings per common share $0.35 $0.23 52%
      Adjusted EBITDA1 10,378 6,339 64%
      Net cash provided by operating activities 9,573 2,402 299%

      This Non-GAAP financial measure is described below and reconciled to GAAP net income in the accompanying table.

      Summary of Revenues and Gross Margin
      (In Thousands of US Dollars)

      Revenue Gross Margin
      3 Months Ended March 31 3 Months Ended March 31
      2018
      (unaudited)
      2017
      (unaudited)
      2018
      (unaudited)
      2017
      (unaudited)
      Network Access Services:
      Mobile Services 21,872 17,963 10,606 8,396
      Other Services 1,736 1,287 795 462
      Total Network Access Services 23,608 19,250 11,401 8,857
      Domain Services:
      Wholesale
      Domain Services 58,428 39,092 7,114 4,629
      Value Added Services 4,435 4,057 3,577 3,332
      Total Wholesale 62,862 43,000 10,691 7,961
      Retail 8,437 6,402 4,027 2,784
      Portfolio 889 917 704 655
      Total Domain Services 72,187 50,318 15,422 11,400
      Network Expenses:
      Network, other costs (2,343) (1,233)
      Network, depreciation and amortization costs (1,630) (971)
      Total Network Expenses (4,204) (3,314)
      Total revenue/gross margin 95,796 69,568 22,619 16,944

      “The first quarter was a solid start to 2018, with strong year-over-year growth in revenue, net income, adjusted EBITDA and cash flow from operations,” said Elliot Noss, President and Chief Executive Officer, Tucows Inc. “Our domains business continued its consistent performance as the Enom integration continues to progress on plan. Ting Mobile posted another quarter of solid year-over-year revenue and margin growth. On Ting Internet, we continued to see strong adoption in our three active towns and we prepared to start lighting up customers in our next two. Meanwhile, we announced our next Ting town, Fuquay-Varina, North Carolina.”

      Financial Results

      Net revenue for the first quarter of 2018 increased 38% to $95.8 million from $69.6 million for the first quarter of 2017 and benefitted from the accelerated revenue recognition of $14.6 million related to a bulk transfer of 2.65 million domain names during the first quarter of 2018.

      Net income for the first quarter of 2018 increased to $3.7 million, or $0.35 per share, from $2.4 million, or $0.23 per share, for the first quarter of 2017 driven by the growth in Adjusted EBITDA and lower statutory tax rates as a result of the Tax Cuts and Jobs Act of 2017.

      Adjusted EBITDA 1 for the first quarter of 2018 increased 64% to $10.4 million from $6.3 million for the first quarter of 2017 driven by Enom and Ting Mobile.

      Cash and cash equivalents at the end of the first quarter of 2018 was $16.6 million compared with $18.0 million at the end of the fourth quarter of 2017 and $15.0 million at the end of the first quarter of 2017.

      Notes:

      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 transitions 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.

      The following table reconciles net income to adjusted EBITDA (dollars in thousands):

      3 Months Ended March 31
      2017
      (unaudited)
      2016
      (unaudited)
      Net income for the period 3,744 2,446
      Depreciation of property and equipment 1,232 757
      Amortization of intangible assets 2,331 1,761
      Interest expense, net 896 868
      Provision for income taxes 1,183 (125)
      Stock-based compensation 578 318
      Unrealized loss (gain) on change in fair value of forward contracts (3) (18)
      Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities 176 (50)
      Acquisition and transition costs1 241 382
           
      Adjusted EBITDA 10,378 6,339
      1 *Acquisition and other costs represents transaction-related expenses, transitional expenses, such as duplicative post-acquisition expenses, related to our acquisition of Enom in January 2017. Expenses include severance or transitional costs associated with department, operational or overall company restructuring efforts, including geographic alignments.

      Conference Call

      Tucows management will host a conference call today, Wednesday, May 9, 2018 at 5:00 p.m. ET to discuss the Company’s first quarter 2018 results and outlook for the Company. Participants can access the conference call by dialing 1-888-231-8191 or 647-427-7450 or via the Internet at http://www.57minshi.com/investors.

      For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial 416-849-0833 or 1-855-859-2056 and enter the passcode 5873817 followed by the pound key. The telephone replay will be available until Wednesday, May 16, 2018 at midnight. To access the archived conference call as an MP3 via the Internet, go to
      http://www.57minshi.com/investors.

      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 24 million domain names and millions of value-added services through a global reseller network of over 39,000 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 (http://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
      Loderock Advisors
      (416) 519-4196
      lawrence.chamberlain@loderockadvisors.com

      Tucows Reports Continuing Strong Financial Results for Fourth Quarter and Full Year 2017

      – Fourth Quarter and Year Highlighted by Record Revenue, Net Income, Adjusted EBITDA and Cash Flow from Operations –

      TORONTO, February 14, 2018 – 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, 2017. All figures are in U.S. dollars.

      Summary Financial Results
      (In Thousands of US Dollars, Except Per Share Data)

      3 Months Ended December 31 12 Months Ended December 31
      2017
      (unaudited)
      2016
      (unaudited)
      % Change 2017
      (unaudited)
      2016
      (unaudited)
      % Change
      Net revenue 90,621 48,805 86% 329,421 189,819 74%
      Net income1 11,199 2,817 298% 22,327 16,067 39%
      Basic Net earnings per common share1 1.06 0.27 293% 2.12 1.53 39%
      Adjusted EBITDA2, 3 15,275 7,333 108% 41,356 30,130 37%
      Net cash provided by operating activities 14,081 9,067 55% 31,897 22,509 42%

      1. Net Income and Earnings Per Share for the fourth quarter and Fiscal 2017 reflect a net positive implementation impact from the Tax Cuts and Jobs Act of 2017 of $5.8 million and $0.55 per share, respectively.

      2. This Non-GAAP financial measure is described below and reconciled to GAAP net income in the accompanying table.

      3. Adjusted EBITDA for the fourth quarter and twelve months of 2017 reflect the impact of the purchase price accounting adjustment related to the fair value write down of deferred revenue from the Enom acquisition which lowered Adjusted EBITDA by $0.8 million and $7.8 million for the fourth quarter and first twelve months of 2017, respectively.

       

      Summary of Revenues and Gross Margin
      (In Thousands of US Dollars)

      Revenue Gross Margin
      3 Months Ended December 31 3 Months Ended December 31
      2017
      (unaudited)
      2016
      (unaudited)
      2017
      (unaudited)
      2016
      (unaudited)
      Network Access Services:
      Mobile Services 23,795 17,839 11,094 8,951
      Other Services 1,357 919 405 254
      Total Network Access Services 25,152 18,758 11,499 9,205
      Domain Services:
      Wholesale
      Domain Services 48,320 23,130 6,514 4,398
      Value Added Services 4,538 2,336 3,978 1,819
      Total Wholesale 52,858 25,466 10,492 6,217
      Retail 8,711 3,883 4,141 2,086
      Portfolio 3,900 698 3,377 555
      Total Domain Services 65,469 30,047 18,010 8,858
      Network Expenses:
      Network, other costs (2,260) (1,285)
      Network, depreciation and amortization costs (1,513) (355)
      Total Network Expenses (3,773) (1,640)
      Total revenue/gross margin 90,621 48,805 25,736 16,423

       

      “The fourth quarter saw strong growth across each of our key financial metrics, capping off a year in which we delivered record financial performance while achieving our operational goals,” said Elliot Noss, President and Chief Executive Officer, Tucows Inc. “We completed a major acquisition that solidified our position as the second largest domain name registrar in the world, and remain on track to realize acquisition synergies that will contribute approximately $5 million in incremental annualized EBITDA by 2019. Ting Mobile posted its sixth straight year of top line and bottom line growth. And on Ting Internet, we continued to build the foundation of a business that we expect will become a meaningful contributor to our business and deliver growth for many years to come.”

      Financial Results

      Net revenue for the fourth quarter of 2017 increased 86% to $90.6 million from $48.8 million for the fourth quarter of 2016.

      Net income for the fourth quarter of 2017 increased to $11.2 million, or $1.06 per share, from $2.8 million, or $0.27 per share, for the fourth quarter of 2016. Net income for the fourth quarter of 2017 was positively impacted by the tax related implementation impacts from the Tax Cuts and Jobs Act of 2017 for $5.8 million or $0.55 per share.

      Adjusted EBITDA2 for the fourth quarter of 2017 increased 108% to $15.3 million from $7.3 million for the fourth quarter of 2016. The increase in adjusted EBITDA2 was the result of the acquisition of Enom in January 2017, an outsized domain portfolio sale and growth in Ting Mobile.

      Cash and cash equivalents at the end of the fourth quarter of 2017 increased to $18.0 million from $12.5 million at the end of the third quarter of 2017 and $15.1 million at the end of the fourth quarter of 2016.

      Notes:

      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 transitions 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.

      The following table reconciles net income to adjusted EBITDA (dollars in thousands):

      3 Months Ended December 31 12 Months Ended December 31
      2017
      (unaudited)
      2016
      (unaudited)
      2017
      (unaudited)
      2016
      (unaudited)
      Net income for the period 11,199 2,817 22,327 16,067
      Depreciation of property and equipment 1,114 518 3,728 1,824
      Amortization of intangible assets 2,330 304 8,400 953
      Impairment of intangible assets 110 15 111 43
      Interest expense, net 865 148 3,567 450
      Provision for income taxes (1,033) 2,570 1,748 9,046
      Stock-based compensation 623 214 1,457 799
      Unrealized loss (gain) on change in fair value of forward contracts 54 (31) 17 (323)
      Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities (45) 336 (805) 829
      Acquisition and transition costs* 58 442 806 442
      Adjusted EBITDA 15,275 7,333 41,356 30,130

      *
      Acquisition and other costs represents transaction-related expenses, transitional expenses, such as duplicative post-acquisition expenses, related to our acquisition of Enom in January 2017. Expenses include severance or transitional costs associated with department, operational or overall company restructuring efforts, including geographic alignments.

       

      Conference Call

      Tucows management will host a conference call today, Wednesday, February 14, 2018 at 8:00 a.m. (ET) to discuss the Company’s fourth quarter 2018 results. Participants can access the conference call by dialing 1-888-231-8191 or 647-427-7450 or via the Internet at http://www.57minshi.com/investors.

      For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial 416-849-0833 or 1-855-859-2056 and enter the passcode 7376628 followed by the pound key. The telephone replay will be available until Wednesday, February 21, 2018 at midnight. To access the archived conference call as an MP3 via the Internet, go to http://www.57minshi.com/investors.

      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 28 million domain names and millions of value-added services through a global reseller network of over 39,000 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 (http://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
      lawrence.chamberlain@loderockadvisors.com

      Tucows Announces $40 Million Stock Buyback Program

      TORONTO, February 14, 2018Tucows 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, 2018 and will terminate on or before February 13, 2019. ?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 March 1, 2017 to February 28, 2018 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, 2018, Tucows had 10,588,958 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 28 million domain names and millions of value-added services through a global reseller network of over 39,000 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 (http://tucows.com).

      This news release contains, in addition to historical information, forward-looking statements related to the proposed stock buyback program, including the timing, manner and total number of shares to be purchased under the proposed stock buyback program. Such statements are based on management’s current expectations and are subject to a number of uncertainties and risks, which could cause actual results to differ materially from those described in the forward-looking statements. Information about 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 included in this document are based on information available to Tucows as of the date of this document, and except to the extent Tucows may be required to update such information under any applicable securities laws, Tucows assumes no obligation to update such forward-looking statements.

      Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.

      Contact:

      Lawrence Chamberlain
      (416) 519-4196
      lawrence.chamberlain@loderockadvisors.com

      Ting Internet 2017 Build Scorecard

      Our Build Scoreboard represents an estimate of how many serviceable addresses we have built to so far in each of our Ting Internet towns out of what we project to be our total potential build in each town. We will update this annually to help shareholders easily track both progress and potential.

      Tucows Reschedules Fourth Quarter Investment Community Conference Call to Wednesday, February 14, 2018 at 8:00 A.M. (ET)

      TORONTO, February 5, 2018 – Tucows Inc. (NASDAQ: TCX, TSX: TC) today announced that it has rescheduled its fourth quarter 2017 financial results conference call to Wednesday, February 14, 2018 at 8:00 a.m. (ET).? The Company expects to report its fourth quarter 2017 financial results via news release at approximately 7:00 a.m. (ET) the same day.

      Participants can join the call by dialing 1-888-231-8191 or 647-427-7450. Participants can also access the conference call via the Internet at http://www.57minshi.com/investors.

      For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial 1-855-859-2056 or 416-849-0833 and enter the pass code 7376628 followed by the pound key.? The telephone replay will be available until Wednesday, February 21, 2018 at midnight. To access the archived conference call as an MP3 via the Internet, go to http://www.57minshi.com/investors.

      About Tucows

      ?Tucows, Inc. 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 29 million domain names and millions of value-added services through a global reseller network of over 40,000 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 (http://tucows.com).

      Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.

      Contact:
      Lawrence Chamberlain
      (416) 519-4196
      lawrence.chamberlain@loderockadvisors.com

      Tucows Fourth Quarter Investment Community Conference Call is Tuesday, February 13, 2018 at 8:00 A.M. (ET)

      TORONTO, January 30, 2018 – Tucows Inc. (NASDAQ: TCX, TSX: TC) plans to report its fourth quarter fiscal 2017 financial results via news release on Tuesday, February 13, 2018 at approximately 7:00 a.m. (ET). Tucows management will host a conference call on the same day at 8:00 a.m. (ET) to discuss the results and the outlook for the company.

      Participants can join the call by dialing 1-888-231-8191 or 647-427-7450. Participants can also access the conference call via the Internet at http://www.57minshi.com/investors.

      For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial 1-855-859-2056 or 416-849-0833 and enter the pass code 7376628 followed by the pound key. The telephone replay will be available until Tuesday, February 20, 2018 at midnight. To access the archived conference call as an MP3 via the Internet, go to http://www.57minshi.com/investors.

      About Tucows

      Tucows, Inc. 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 29 million domain names and millions of value-added services through a global reseller network of over 40,000 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 (http://tucows.com).

      Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.

      Contact:
      Lawrence Chamberlain
      (416) 519-4196
      lawrence.chamberlain@loderockadvisors.com

      Why Tucows Doesn’t Take Down Domains for Website Content Issues

      The answer to this question is long and complicated. Our goal in this statement is to try to be transparent about our reasoning and process. Fundamentally, Registrars are a key piece of the DNS, and part of the technical infrastructure of the Internet. Consequently, it is neither appropriate nor effective to resolve content issues at a Registrar.

      Controversy tends to be focused on a single domain, but it is a mistake to consider domains in isolation. A free and open Internet hangs in the balance of how Registrars, ISPs, and other similar parties respond to takedown requests. Tucows controls about 10% of the total domains that exist today—the second-most of any single company in the world. This is an immense responsibility and our choices have extremely broad implications.

      We do not see ourselves, or similar infrastructure companies, as the appropriate arbiters of what content belongs on the Internet. That power belongs to agencies of justice and should continue to be exercised via due process.

      What is our role in relation to website content?

      Tucows and its domain-related brands (OpenSRS, Enom, and Hover) are Registrars. It’s important to understand what a Registrar is, and what it can and cannot do. Registrars manage the technical infrastructure, which enables the buying and management of domain names. Domain names are not websites; they are strings of characters (such as ‘example.com’) and act as a human-friendly layer that points to a website. Web-hosting companies, rather than Registrars, provide the services that allow website content to be available online, making that content accessible to Internet users.

      Tucows cannot exercise control over the content of a website pointed to by a domain registered via our platform.

      Because we’re not a web-hosting company, we cannot remove specific pages or content on a website. The tools available to a Registrar to address content issues are very blunt; we can only suspend a domain, or force the registrant (owner) to move it elsewhere.

      We don’t consider forcing a registrant to transfer domains off our platform to be a compelling solution for multiple reasons:

      1. It resolves nothing with transgressive website content. Forced transfers only push domains pointing to problematic website content elsewhere, which is both unfair to our competitors and devoid of actual resolution.

      2. Multiple domains from multiple registrars may be pointed at a single website, limiting the efficacy of suspending any one single domain. If a domain is suspended, a replacement domain may be registered, pointed, propagated, and socialized in minutes, leading to an endless game of whack-a-mole.

      To be clear, asking a Registrar to suspend a domain is an ineffective method of resolving content issues. The content can be relabeled, quickly and easily, with a new domain name, or accessed by use of an IP address.

      Web-hosting companies are in a better position to address content issues. Web-hosts have the ability to provide a much more granular response and almost always have a direct relationship with their users and content.

      Who has the right to decide what’s online?

      We have Terms of Service that allows us broad capacity to cease providing services, as do most providers. The issue at hand is not what we could do, but what we should do. Tucows has always believed in a free and open Internet. It is imperative that those who operate as a fundamental piece of the Internet’s infrastructure, such as Registrars, Internet exchanges, and ISPs, remain content-neutral; their neutrality is essential in preserving the diversity of content on the Internet.

      There are two scenarios in which we suspend domain names:

      1. If there is evidence of due process

      The reason due process is fundamental is that it represents the norms we’ve established as a society. When a court order arrives, dictating action, we can be confident that a domain has transgressed the law.

      2. In “exigent circumstances”

      This is where we are confronted with a situation that appears to represent an imminent threat of violence, injury, or significant crime. These are exceedingly rare. The judgement on exigent circumstances is always contextual and informed by as much information as we are able to gather at the time.

      What should you do if you wish to remove content from the Internet?

      Generally, the first step would be to approach the website owner, either via the contact information on the site itself, or through the contacts in Whois. Your second step would be to contact the web-host. Tucows is primarily a wholesale Registrar, and many of its resellers are web-hosts. You can identify the Tucows reseller responsible for a domain here. You can identify the reseller of a domain registered through Enom here.

      Lastly, if you think the domain in question falls into one of the categories above, you can submit a ticket to our abuse team.

      In conclusion

      While, as an organization, we may vehemently disagree with the values and ideas a given website aims to disseminate, we feel the power to decide what types of content should and should not be online must rest with the people, rather than in the hands of a select group of corporations.

      Further reading:

      If you are interested in further reading regarding the relationship between Registrars and content, you could start with the following links:

       

      Clarifying the Daily Stormer issue

      Tucows (which owns the Enom, OpenSRS, and Hover brands) finds racism and its proponents detestable. We are proud to be a diverse company based in the most diverse city in the world. As well, Charlottesville, Virginia is home to a Tucows office and many of our employees there. We have all been shaken and deeply saddened by recent events.

      In regards to the current issue around the Daily Stormer website, Tucows was never the webhost nor the registrar for the domain. Tucows provides a domain privacy service for millions of domains belonging to our wholesale domain resellers and to other registrars. The domain in question was transferred to one of our registrar partners and the privacy service was automatically applied.

      Like Google, and GoDaddy before them, we felt this domain clearly violated our privacy service terms of service by inciting violence, and removed the privacy protection from the domain.

      We are also monitoring our systems for incoming transfer requests for the Daily Stormer domain so that we can give our resellers the opportunity to deny those requests.

      Domain names are gateways to speech and we take our responsibilities towards free speech and expression extremely seriously. Incitement to violence is not protected speech and the Daily Stormer regularly conducts such incitement, which is why we no longer provide it with any service.

      The process of balancing free speech and the ugly opinions that people share is neither easy nor pleasant. Every day we receive many, many complaints about the content on any number of the 24 million domains on our platform. Let us be exceptionally clear: we find the content of many of these pages patently abhorrent and evidence of the worst that humanity can stoop to. Nevertheless, there are legal mechanisms and processes in place for dealing with issues of free speech and we consider it our responsibility to follow them.

      We have and will act in what we call “exigent circumstances” where there is an imminent threat of violence or crime. GoDaddy responded to the Daily Stormer appropriately under these circumstances. However, these circumstances aside, we have found that the clearest path forward, to protect freedom of speech and expression, is to act where we have evidence that due-process has been observed. When such is provided to us, we act on it.

      Telcos want control of the Internet. Together we can still stop them.

      Time is running out to protect the Internet as we know it.

      Today is a day to rally. A day to talk, to reach out and especially to act.

      It’s the last chance to fight to keep fair and equal access to the Internet. The day we exercise our freedom of speech to maintain the same right online. The day we hold high the principle of common carriage; the principal that service providers must serve the general public without discrimination. A principle that started with blacksmiths, innkeepers and ship owners and is today part of our social contracts with public airlines, railroads, buses, taxicabs, freight and phone companies and yes, Internet service providers. The latter, because as Public Knowledge said so succinctly:

      “Networks are so vital to the functioning of society that the maintenance of such networks cannot be left to the market solely.”

      The Internet is the world’s principal source of information. We deserve access to all lawful content unedited, unfiltered, uncensored, unfettered. We want real journalism, not an echo chamber. We want to hear all voices, not only the ones who’ve paid to speak.

      We don’t want a two-tiered system controlling online communication.

      We are not alone.

      At Tucows, we believe the Internet is the greatest agent for positive change the world has even seen. We are thrilled and humbled by what can be achieved when billions of people have access to information and a vehicle to communicate, collaborate and co-create. We are increasingly wary of large corporations that are willing to compromise customer experiences and impede progress to protect market share. We are similarly concerned about politicians that legislate on the Internet without truly understanding the world they are affecting.

      So today we ask you to join our voice to protect the open Internet, by asking the FCC to preserve net neutrality. It’s easy. We promise.

      Tucows Cuts the Crap

      TORONTO, May 3, 2016After successful forays into fiber Internet, cell phone service and domain names, Tucows (NASDAQ: TCX, TSX: TC) removes the yoke from tucows.com/downloads.

      There was a time when offering software and shareware for people to download was good, honest work.

      But then. Then, things got ugly. Then came the dark days where software download sites needed to wring every possible cent out of their wares. Even Tucows downloads, the seminal software download site, was not immune.

      Those days made finding a download button in among the various masquerading ads more like tiptoeing through a minefield. Downloading software became a high stakes mission: Double check the pop-up blocker to ensure it’s working. Fire up AdBlock. Deep breath. Swoop in, grab the software in question and run. Oh yeah, and be exceedingly careful what you agree to in the installation process of said software.

      No, I don’t want to run a scan on my computer.

      Yes, I really do want to close this browser window.

      Please. Please just let me go. You can have your software back. Please.

      It felt like the digital equivalent of shoplifting, but with all the moral turpitude squarely on the purveyor’s side.

      No more.

      Tucows.com/downloads is once again a bastion for the way software downloads should be.

      With Tucows’ success in wholesale and retail domain names (OpenSRS and Hover, respectively) and more recently with mobile phone service (Ting) and fiber Internet (Ting Internet), tucows.com/downloads has become less relevant when looking at the balance sheet.

      “We don’t lightly walk away from opportunities or revenue,” said Elliot Noss, CEO of Tucows. “In the end, though, we’d rather have the Tucows name associated with good; with a belief in the power of the Internet to affect positive change. An ad-heavy site that packages browser toolbars along with every download isn’t something we want the Tucows name associated with,” he continued.

      In other words, Tucows is in the enviable position of being able to walk away from easy money in favor of doing what feels right.

      “On the Tucows downloads site today, you’ll find no flashing ads. No toolbars. No pop-ups,” said Noss. “You might see a few plugs for other Tucows services, but nothing too egregious… and certainly not anything that’s pretending to be a download button.”

      In the end, the hope is that maybe, if you enjoy downloading software from the only ad-free downloads site on the Internet, you might consider registering your next domain name with Hover, ditching your current cell phone plan for Ting, moving to a Ting fiber Internet town and embarking on a new career as a domain name reseller on the OpenSRS platform.

      About Tucows.com/downloads
      The Tucows downloads library has been online since 1993 where it launched, suitably enough, in a public library in Flint, MI. There was a time when almost literally everyone on the nascent Internet touched the Tucows downloads site.

      Keeping busy
      In 1999, Tucows launched OpenSRS (opensrs.com) to challenge the wholesale domain tools and options of the day. OpenSRS today is a major wholesale domain registrar and contributor to the Tucows business with over 13 million domain names under management and 13,000 reseller partners.

      Hover (hover.com), meanwhile, challenges the idea that domain names are necessarily complicated and that the path to finding the right online home for your idea is a process that’s littered with upsells and confusion.

      Ting (ting.com) challenges the bloated, overpriced and intentionally confusing cell phone plans of the day. In so doing, it saves over 200,000 families and businesses a bunch of money on their monthly mobile phone bills.

      Ting Internet (ting.com/Internet) challenges the idea that fiber Internet only makes sense in bigger cities. It brings gigabit fiber Internet access to cities and towns throughout America. Towns that would otherwise be passed over as big guys race to get major metros online with fiber.


      Media Contact:
      Andrew Moore-Crispin
      1-844-275-1773
      andrewmc@tucows.com

      Investor Contact:
      Lawrence Chamberlain
      416-848-1457
      lchamberlain@national.ca

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