Expired domains weigh on revenue growth at Tucows.
Tucows (NASDAQ: TCX) reported earnings after the market closed yesterday.
Q2 revenue was $85.0 million, up 2% from the same quarter a year ago. The company reported a loss of $31.0 million, with $14.7 million of that associated with the early redemption of a portion of Ting preferred shares.
The domain business reported $60.0 million revenue, down from $61.0 million a year ago. Tucows blames about half of this decline on lower revenue from expired domain sales.
Revenue from Ting, the company’s internet service, grew 21% to $12.4 million. Wavelo, a back-end telecom management product, reported a jump of 20% to $10.8 million.