Unnamed Analyst's questions to Tucows Inc (TCX) leadership • Q1 2024
Question
An unnamed analyst inquired about Ting's market penetration rates in mature markets versus its 50% target, the performance differences between owned and partner markets, and the drivers of Ting's $3 million quarter-over-quarter improvement in adjusted EBITDA.
Answer
Elliot Noss, President and CEO, confirmed that Ting's most mature markets (5+ years old) have collectively met the 50% penetration goal. He noted that owned networks outperform partner networks due to operational 'seams,' which the company is actively working to improve. The Q1 EBITDA improvement was attributed mainly to permanent cost savings from a workforce reduction and reduced marketing spend.