NASDAQ · TCX

Tucows Inc

Closing price · Nov 13, 2026 $11.73

Latest quarter · ended Sep 30, 2026

Cash got weaker, but sales grew

descriptionFiled Nov 5, 2026
Revenue growthSlower
+1.4%
Quarter ended Dec 31, 2024: +7.1% sales vs. a year beforeQuarter ended Mar 31, 2025: +8.2% sales vs. a year beforeQuarter ended Jun 30, 2025: +10.1% sales vs. a year beforeQuarter ended Sep 30, 2025: +6.8% sales vs. a year beforeQuarter ended Dec 31, 2025: +6.0% sales vs. a year beforeQuarter ended Mar 31, 2026: +2.2% sales vs. a year beforeQuarter ended Jun 30, 2026: +2.1% sales vs. a year beforeQuarter ended Sep 30, 2026: +1.4% sales vs. a year before
Dec '24Sep '26
$100M vs. $98.6M a year ago
Gross marginBetter
29.1%
Quarter ended Dec 31, 2024: 23.3% gross marginQuarter ended Mar 31, 2025: 24.9% gross marginQuarter ended Jun 30, 2025: 22.5% gross marginQuarter ended Sep 30, 2025: 24.5% gross marginQuarter ended Dec 31, 2025: 24.5% gross marginQuarter ended Mar 31, 2026: 25.0% gross marginQuarter ended Jun 30, 2026: 25.6% gross marginQuarter ended Sep 30, 2026: 29.1% gross margin
Dec '24Sep '26
vs. 24.5% a year ago
Cash from operationsWorse
−$4.62M
Quarter ended Dec 31, 2024: −$4.79M cash from operationsQuarter ended Mar 31, 2025: −$11.3M cash from operationsQuarter ended Jun 30, 2025: $6.57M cash from operationsQuarter ended Sep 30, 2025: $1.53M cash from operationsQuarter ended Dec 31, 2025: −$2.61M cash from operationsQuarter ended Mar 31, 2026: $3.52M cash from operationsQuarter ended Jun 30, 2026: $1.94M cash from operationsQuarter ended Sep 30, 2026: −$4.62M cash from operations
Dec '24Sep '26
−401% from $1.53M a year ago
Share countSteady
+1.1%
Quarter ended Dec 31, 2024: 11.03M sharesQuarter ended Mar 31, 2025: 11.06M sharesQuarter ended Jun 30, 2025: 11.08M sharesQuarter ended Sep 30, 2025: 11.1M sharesQuarter ended Dec 31, 2025: 11.13M sharesQuarter ended Mar 31, 2026: 11.15M sharesQuarter ended Jun 30, 2026: 11.18M sharesQuarter ended Sep 30, 2026: 11.22M shares
Dec '24Sep '26
11.22M shares vs. 11.1M a year ago

Numbers come from the company's own 10-Q and 10-K reports filed with the SEC. Each bar is one quarter, oldest on the left. The colored bar is the latest. Hover over or tap a bar to see its number.

Smart money pulse

What insiders and funds are doing

Mixed Insiders: as of Nov 13 Funds: as of Jun 30, 2026
−1000+100 0
  • account_balance
    1 fund bought, 1 sold in the quarter ended Jun 30, 2026, counting funds that hold 500 stocks or fewer and $1M+ of this one. Index funds and banks are left out.
  • info
    No real insider sales in 12 months. Planned 10b5-1 sales and tax withholding are left out.

−100 means everyone selling, +100 everyone buying. This is data, not advice.

How the Pulse works

Pulse runs from −100 (everyone selling) to +100 (everyone buying). Half comes from insiders: real buyers vs. real sellers in the last 90 days (Form 4). Half comes from funds: funds that bought vs. funds that sold last quarter (13F). 13F is a snapshot of long positions on the last day of the quarter, filed up to 45 days later. It does not show short positions or trades since then.

Who owns it

71 funds report owning TCX, up from 67

Holdings as of Jun 30, 2026
New13
Added27
Held16
Trimmed15
Sold out9

Last quarter

Who bought and who sold

Apr–Jun 2026
Blacksheep Fund Management Ltd
−100%
Blackhawk Capital Partners, LLC
+2%

Change in shares held from Mar 31 to Jun 30, 2026, biggest holdings first. Only funds that hold 500 stocks or fewer and $1M+ of this one: index funds and banks own almost everything, so their changes say little. Bars stop at ±100%.

Insider trades · last 12 months

Real buys and sales

No open-market buys or sales by officers or directors in the last 12 months. Hidden: 1 gift. Press All filings to see them.

● Open-market buy● Open-market sale
CEOCFOOther officersDirectorsDecJanFebMarAprMayJunJulAugSepOctNovGift · Dec 24 · 20,250 sh
CEOCFOOther officersDirectorsJunJulAugSepOctNov

Last 6 months. A wider screen shows 12.

Showing 0 real trades. Hidden: 1 gift. Those happen on a schedule and say little about what an insider thinks. Bigger dot means a bigger trade.

Showing every filing. Dashed circles are routine: grants, tax withholding, option exercises and planned sales.

Big bets

Funds with a big share of their money in TCX

As of Jun 30, 2026
FundOf fundOwnsValueChange
Blacksheep Fund Management Ltd5%<0.1%$14.7M−100%

Funds that hold 150 stocks or fewer, where this stock is 3% or more of what they reported. "Of fund" is its share of the fund's 13F value.

"Owns" is shares reported divided by shares outstanding.

Where this data comes from. Insider trades, fund holdings, activist stakes and company results come from public SEC EDGAR filings (Forms 4, 13F, 13D/13G, 10-Q and 8-K). Congress trades come from the STOCK Act reports members file with the House Clerk and the Senate. Daily closing prices come from post-no-preference/stocks on DoltHub, a community-run database shared under CC BY-SA 4.0; the prices we show stay under that license. They are each day's close, not live or official exchange prices.

This is data, not investment advice. About StockToast