Tucows (TCX) Gross Margin (2010 - 2026)
Tucows (TCX) reported Gross Margin of 24.96% for Q1 2026, up 9.0% on a YoY basis 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 has reported Gross Margin for 17 years, with the latest figure at 24.96% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 9.0% year-over-year to 24.96%; the trailing twelve-month figure through Mar 2026 stood at 24.1% (up 21.0% YoY), and the FY2025 full-year result 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.
- Historically, Gross Margin has averaged 22.86% across 5 years, with a median of 23.27% in 2024.
- Annual changes were most pronounced in 2023 — Gross Margin tumbled 866 bps — and 2024, when it soared 478 bps.
- 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.
- The last three Gross Margin figures came in at 24.96% (Q1 2026), 24.46% (Q4 2025), and 24.53% (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,998.30 Bn | 2,920.03 Bn | 56.06 Bn | 67.63% |
| 2 | Alarum Technologies | 1,040.72 Bn | 1,026.57 Bn | 7.23 Mn | 61.73% |
| 3 | Oracle | 590.32 Bn | 551.74 Bn | 15.14 Bn | 88.06% |
| 4 | Palantir Technologies | 316.31 Bn | 308.39 Bn | 1.42 Bn | 86.78% |
| 5 | Palo Alto Networks | 181.17 Bn | 176.63 Bn | 1.91 Bn | 73.59% |
| 6 | CrowdStrike Holdings | 161.69 Bn | 158.63 Bn | 993.68 Mn | 76.12% |
| 7 | Fortinet | 102.35 Bn | 99.06 Bn | 1.49 Bn | 80.29% |
| 8 | Synopsys | 88.25 Bn | 88.13 Bn | 1.77 Bn | 73.54% |
| 9 | Cloudflare | 83.26 Bn | 82.32 Bn | 455.60 Mn | 71.21% |
| 10 | Tucows | 151.74 Mn | 107.43 Mn | 24.13 Mn | 24.96% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 24.29% |