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Tucows Reports Financial Results for Second Quarter 2020

TORONTO, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, today reported its financial results for the second quarter ended June 30, 2020. All figures are in U.S. dollars.
COVID-19:A  Tucows shareholders and prospective investors are encouraged to read Tucowsa?? public statement regarding COVID-19, which is available here: https://bit.ly/2LavpOc.
Summary Financial Results
(In Thousands of US Dollars, Except Per Share Data)





3 Months ended June 30



6 Months ended June 30



2020
(Un-
audited)



2019
(Un-
audited)



% Change



2020
(Un-
audited)



2019
(Un-
audited)



% Change



Net revenue



82,122



84,117



(2.4



%)



166,107



163,070



1.9



%



Gross Profit



22,966



24,507



(6.3



%)



48,116



47,158



2.0



%



Net income1



157



2,616



(94.0



%)



2,991



5,415



(44.8



%)



Basic Net earnings per common share



0.01



0.25



(96.0



%)



0.28



0.51



(45.1



%)



Adjusted EBITDA2



12,175



11,486



6.0



%



24,856



20,917



18.8



%



Net cash provided by operating activities



8,939



6,979



28.1



%



23,012



15,970



44.1



%
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