Tucows (TCX) Operating Leases (2019 - 2026)
Tucows (TCX) reported Operating Leases of $74.48 million for Q2 2026, up 114.3% from $34.76 million a year earlier and up 14.9% from the prior quarter.
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Analysis
Tucows (TCX) Operating Leases (2019 - 2026) Analysis & Trends
At the end of FY2025, Tucows posted Operating Leases of $57.82 million, up 123.3% from FY2024.
- Operating Leases has increased for five consecutive years, with a five-year compound annual growth rate of 44.5% (FY2020 to FY2025).
- By year, Operating Leases came in at $25.9 million in FY2024 (+41.9%), $18.26 million in FY2023 (+46.8%), $12.44 million in FY2022 (+4.9%) and $11.85 million in FY2021 (+29.1%).
- The Q2 2026 figure ranks as the highest quarterly Operating Leases in data going back to Q1 2019.
- Year over year, Operating Leases has now increased in each of the last 22 quarters, with growth averaging 85.4% over the last eight quarters.
- The year-over-year growth in Operating Leases has ranged between 1.1% (Q2 2023) and 123.3% (Q4 2025) over the last five years.
- Per Business Quant data, the three quarters before Q2 2026 came in at $64.85 million (Q1 2026), $57.82 million (Q4 2025) and $48.7 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Microsoft | 3,949.85 Bn | 3,873.01 Bn | 60.48 Bn |
| 2 | International Business Machines | 228.00 Bn | 178.81 Bn | 9.91 Bn |
| 3 | Cloudflare | 103.51 Bn | 87.04 Bn | 499.52 Mn |
| 4 | Equinix | 97.35 Bn | 85.92 Bn | 1.40 Bn |
| 5 | Nebius | 41.52 Bn | 14.95 Bn | 448.70 Mn |
| 6 | CoreWeave | 34.23 Bn | 21.32 Bn | 1.70 Bn |
| 7 | Verisign | 27.83 Bn | 25.04 Bn | 384.60 Mn |
| 8 | Nutanix | 18.34 Bn | 10.03 Bn | 651.35 Mn |
| 9 | GoDaddy | 14.21 Bn | 9.79 Bn | 828.20 Mn |
| 10 | Tucows | 101.57 Mn | -87.74 Mn | 25.78 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 74.48 Mn |
| Mar 31, 2026 | 64.85 Mn |
| Dec 31, 2025 | 57.82 Mn |
| Sep 30, 2025 | 48.70 Mn |
| Jun 30, 2025 | 34.76 Mn |
| Mar 31, 2025 | 29.68 Mn |
| Dec 31, 2024 | 25.90 Mn |
| Sep 30, 2024 | 23.95 Mn |
| Jun 30, 2024 | 19.22 Mn |
| Mar 31, 2024 | 18.91 Mn |
| Dec 31, 2023 | 18.26 Mn |
| Sep 30, 2023 | 16.66 Mn |
| Jun 30, 2023 | 13.02 Mn |
| Mar 31, 2023 | 13.66 Mn |
| Dec 31, 2022 | 12.44 Mn |
| Sep 30, 2022 | 12.83 Mn |
| Jun 30, 2022 | 12.88 Mn |
| Mar 31, 2022 | 12.22 Mn |
| Dec 31, 2021 | 11.85 Mn |
| Sep 30, 2021 | 11.10 Mn |
API Access
Tucows Operating Leases API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-leases&ticker=TCX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "ticker": "TCX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-leases&ticker=TCX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();