Tucows (TCX) Gross Margin (2010 - 2026)
Tucows (TCX) posted quarterly Gross Margin of 24.96% for Q1 2026, up 9.0% year-over-year from 22.9% in Q1 2025, and up 2.07% quarter-over-quarter from 24.46% in Q4 2025.
Tucows (TCX) Gross Margin (2010 - 2026) Analysis & Trends
Tucows' Gross Margin history runs 17 years deep, the most recent figure standing at 24.96% for Q1 2026.
- In Q1 2026, Gross Margin rose 9.0% year-over-year to 24.96%; the TTM figure through Mar 2026 stood at 24.1% (up 21.0% YoY), while the FY2025 annual figure was 24.07%, up 115.0% from the prior year.
- Gross Margin for Q1 2026 stood at 24.96%, up from 24.46% in the prior quarter.
- The five-year high for Gross Margin was 26.54% in Q2 2022, with the low at 17.48% in Q1 2023.
- The 5-year median for Gross Margin is 23.27% (2024), against an average of 22.86%.
- The sharpest annual moves came in 2023 and 2024: Gross Margin slumped 866 bps in 2023, then surged 478 bps in 2024.
- Tucows' Gross Margin stood at 21.56% in 2022, then declined by 5 bps to 20.49% in 2023, then gained by 14 bps to 23.32% in 2024, then grew by 5 bps to 24.46% in 2025, then advanced by 2 bps to 24.96% in 2026.
- Business Quant data shows TCX's Gross Margin at 24.96% in Q1 2026, 24.46% in Q4 2025, and 24.53% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 67.20% |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 84.66% |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | - |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 67.55% |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 80.24% |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 71.76% |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 73.54% |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 65.86% |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 47.84% |
| 10 | Tucows | 115.11 Mn | 70.95 Mn | 25.78 Mn | 25.64% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 25.64% |
| Mar 31, 2026 | 24.96% |
| Dec 31, 2025 | 24.46% |
| Sep 30, 2025 | 24.53% |
| Jun 30, 2025 | 22.46% |
| Mar 31, 2025 | 24.87% |
| Dec 31, 2024 | 23.32% |
| Sep 30, 2024 | 24.04% |
| Jun 30, 2024 | 23.27% |
| Mar 31, 2024 | 20.94% |
| Dec 31, 2023 | 20.49% |
| Sep 30, 2023 | 19.26% |
| Jun 30, 2023 | 21.22% |
| Mar 31, 2023 | 17.48% |
| Dec 31, 2022 | 21.56% |
| Sep 30, 2022 | 23.05% |
| Jun 30, 2022 | 26.54% |
| Mar 31, 2022 | 26.14% |
| Dec 31, 2021 | 29.80% |
| Sep 30, 2021 | 23.75% |