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TUCOWS INC /PA/

For the period ended Sep 30, 2025. Filed Nov 6, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 6, 2025

TCX$12.69+6.5%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Table of Contents

TUCOWS INC.

Form 10-Q Quarterly Report

INDEX

PART I FINANCIAL INFORMATION
Item 1.Condensed Consolidated Financial Statements3
Condensed Consolidated Balance Sheets (unaudited) as of September 30, 2025 and December 31, 20243
Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) for the three and nine months ended September 30, 2025 and 20244
Condensed Consolidated Statements of Cash Flows (unaudited) for the three and nine months ended September 30, 2025 and 20245
Notes to Condensed Consolidated Financial Statements (unaudited)6
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations32
Item 3.Quantitative and Qualitative Disclosures About Market Risk50
Item 4.Controls and Procedures51
PART II OTHER INFORMATION
Item 1.Legal Proceedings52
Item 1A.Risk Factors52
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds53
Item 3.Defaults Upon Senior Securities53
Item 4.Mine Safety Disclosures53
Item 5.Other Information53
Item 6.Exhibits54
Signatures55

TRADEMARKS, TRADE NAMES AND SERVICE MARKS

Tucows®, EPAG®, Hover®, OpenSRS®, Ting®, eNom®, Ascio®, Simply Bits® and Wavelo® are registered trademarks of Tucows Inc. or its subsidiaries. Other service marks, trademarks and trade names of Tucows Inc. or its subsidiaries may be used in this Quarterly Report on Form 10-Q (this “Quarterly Report”). All other service marks, trademarks and trade names referred to in this Quarterly Report are the property of their respective owners. Solely for convenience, any trademarks referred to in this Quarterly Report may appear without the ® or TM symbol, but such references are not intended to indicate, in any way, that we or the owner of such trademark, as applicable, will not assert, to the fullest extent under applicable law, our or its rights, or the right of the applicable licensor, to these trademarks.

PART I. FINANCIAL INFORMATION

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.