Tucows (TCX) Operating Margin (2010 - 2026)

Tucows (TCX) has reported Operating Margin for 17 consecutive years, with 4.46% the latest figure, recorded in Q1 2026.

• Operating Margin for Q1 2026 came in at 4.46%, down 231.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 4.18% (down 231.0% YoY), and the FY2025 annual result was 3.62%, up 228.0% from the prior year.
• Operating Margin was 4.46% for Q1 2026 at Tucows, down from 0.36% in the prior quarter.
• Over five years, Operating Margin peaked at 29.79% in Q4 2023 and troughed at 21.49% in Q1 2023.
• Average Operating Margin over 5 years is 4.55%, with a median of 5.98% recorded in 2022.
• Year-over-year, Operating Margin plunged 1551 bps in 2023 and surged 1674 bps in 2025.
• Over 5 years, Operating Margin stood at 16.25% in 2022, then surged by 83 bps to 29.79% in 2023, then sank by 50 bps to 14.79% in 2024, then plunged by 98 bps to 0.36% in 2025, then plunged by 1342 bps to 4.46% in 2026.
• Per Business Quant data, the three most recent Operating Margin figures were 4.46% in Q1 2026, 0.36% in Q4 2025, and 9.72% in Q3 2025.