Growth Metrics

Tucows (TCX) Operating Expenses (2016 - 2025)

Tucows' Operating Expenses history spans 16 years, with the latest figure at $33.1 million for Q4 2025.

  • For Q4 2025, Operating Expenses fell 35.76% year-over-year to $33.1 million; the TTM value through Dec 2025 reached $117.4 million, down 20.67%, while the annual FY2025 figure was $117.4 million, 20.67% down from the prior year.
  • Operating Expenses reached $33.1 million in Q4 2025 per TCX's latest filing, down from $33.8 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $51.6 million in Q4 2024 to a low of $18.6 million in Q1 2021.
  • Average Operating Expenses over 5 years is $29.6 million, with a median of $29.7 million recorded in 2022.
  • Peak YoY movement for Operating Expenses: surged 52.01% in 2024, then crashed 35.76% in 2025.
  • A 5-year view of Operating Expenses shows it stood at $26.0 million in 2021, then rose by 15.6% to $30.0 million in 2022, then rose by 13.04% to $33.9 million in 2023, then soared by 52.01% to $51.6 million in 2024, then plummeted by 35.76% to $33.1 million in 2025.
  • Per Business Quant, the three most recent readings for TCX's Operating Expenses are $33.1 million (Q4 2025), $33.8 million (Q3 2025), and $25.0 million (Q2 2025).