Tucows (TCX) Operating Margin (2010 - 2026)

Tucows (TCX) has reported Operating Margin for 17 consecutive years, with 5.43% the latest figure, recorded in Q2 2026.

• For the quarter ending Q2 2026, Operating Margin fell 250.0% year-over-year to 5.43%; the trailing twelve-month figure through Jun 2026 stood at 7.18% (up 466.0% YoY), and the FY2025 full-year result was 6.02%, up 1193.0% from the prior year.
• Operating Margin slipped to 5.43% in Q2 2026 per TCX's latest filing, from 4.46% in the prior quarter.
• Across five years, Operating Margin topped out at 2.15% in Q1 2025 and bottomed at 32.06% in Q4 2024.
• Historically, Operating Margin has averaged 12.23% across 5 years, with a median of 10.3% in 2025.
• The sharpest annual moves came in 2023 and 2025: Operating Margin tumbled 1551 bps in 2023, then surged 2295 bps in 2025.
• Over 5 years, Operating Margin stood at 16.47% in 2022, then retreated by 12 bps to 18.52% in 2023, then sank by 73 bps to 32.06% in 2024, then soared by 72 bps to 9.12% in 2025, then jumped by 40 bps to 5.43% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 5.43%, 4.46%, and 9.12% for Q2 2026, Q1 2026, and Q4 2025 respectively.