Tucows reports: UNR price, plan to divide businesses

Company has big plans for its structure in 2022.

Picture of stock chart with the words earnings report

Tucows (NASDAQ: TCX) reported earnings after the market closed today.

Its revenue was essentially flat year over year. Revenue increased in its growing fiber business, decreased in mobile services (in part because of the sale of its MVNO business in Q3 last year), and was basically flat in the domain business. The domain business includes Enom, OpenSRS, Hover, and a few other brands.

On a pre-recorded investor conference call (pdf), Tucows CEO Elliot Noss said that the company is taking action to further delineate its three operating segments. He said they will operate more like businesses and no longer share people. Noss said:

In 2022, we will move to a structure that looks much more like three separate businesses with the parent, TCX, acting as more of a holder of a portfolio of assets and a capital allocator.

Based on his remarks, this seems like more than just a reporting alignment. Noss intimated that each business might be able to attract its own capital. The company will release more details by the end of the year.

Also, the company disclosed how much it paid for Frank Schilling’s UNR domain registry business, which was part of Uniregistry. According to its 10-Q, the company paid $3.0 million less estimated assumed working capital liabilities of $0.5 million for the business.

Post link: Tucows reports: UNR price, plan to divide businesses

© DomainNameWire.com 2021. This is copyrighted content. Domain Name Wire full-text RSS feeds are made available for personal use only, and may not be published on any site without permission. If you see this message on a website, contact editor (at) domainnamewire.com. Latest domain news at DNW.com: Domain Name Wire.

Original article: Tucows reports: UNR price, plan to divide businesses

©2021 Domain Observer. All Rights Reserved.

Leave a Reply

Your email address will not be published. Required fields are marked *