Tucows Inc.

TSX:TC Stock Report

Market Cap: CA$333.6m

Tucows Management

Management criteria checks 2/4

Tucows' CEO is Dave Woroch, appointed in Nov 2025, has a tenure of less than a year. total yearly compensation is $594.77K, comprised of 49.1% salary and 50.9% bonuses, including company stock and options. directly owns 1.13% of the company’s shares, worth CA$3.77M. The average tenure of the management team and the board of directors is 3 years and 0.6 years respectively.

Key information

Dave Woroch

Chief executive officer

US$594.8k

Total compensation

CEO salary percentage49.12%
CEO tenureless than a year
CEO ownership1.1%
Management average tenure3yrs
Board average tenureless than a year

Recent management updates

Recent updates

CEO Compensation Analysis

How has Dave Woroch's remuneration changed compared to Tucows's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2025n/an/a

-US$96m

Jun 30 2025n/an/a

-US$96m

Mar 31 2025n/an/a

-US$99m

Dec 31 2024US$595kUS$292k

-US$110m

Sep 30 2024n/an/a

-US$91m

Jun 30 2024n/an/a

-US$91m

Mar 31 2024n/an/a

-US$104m

Dec 31 2023US$523kUS$296k

-US$96m

Sep 30 2023n/an/a

-US$86m

Jun 30 2023n/an/a

-US$71m

Mar 31 2023n/an/a

-US$44m

Dec 31 2022US$596kUS$297k

-US$28m

Sep 30 2022n/an/a

-US$16m

Jun 30 2022n/an/a

-US$7m

Mar 31 2022n/an/a

-US$2m

Dec 31 2021US$512kUS$269k

US$3m

Sep 30 2021n/an/a

US$7m

Jun 30 2021n/an/a

US$7m

Mar 31 2021n/an/a

US$5m

Dec 31 2020US$420kUS$247k

US$6m

Sep 30 2020n/an/a

US$9m

Jun 30 2020n/an/a

US$13m

Mar 31 2020n/an/a

US$15m

Dec 31 2019US$363kUS$216k

US$15m

Sep 30 2019n/an/a

US$14m

Jun 30 2019n/an/a

US$15m

Mar 31 2019n/an/a

US$16m

Dec 31 2018US$374kUS$215k

US$17m

Compensation vs Market: Dave's total compensation ($USD594.77K) is about average for companies of similar size in the Canadian market ($USD527.11K).

Compensation vs Earnings: Dave's compensation has increased whilst the company is unprofitable.

CEO

Dave Woroch (62 yo)

less than a year
Tenure
US$594,766
Compensation

Mr. David Woroch, also known as Dave, serves as President and Chief Executive Officer of Tucows Inc. since November 2025. He is Chief Executive Officer of Tucows Domains Services since 2022 and served as i...

Leadership Team

NamePositionTenureCompensationOwnership
David Woroch
Presidentless than a yearUS$594.77k1.13%
CA$ 3.8m
Ivan Ivanov
CFO, Secretary1.3yrsUS$827.42k0%
CA$ 0
Bret Fausett
Chief Legal Officer & VP of Regulatory Affairs8.3yrsUS$677.00k0.28%
CA$ 934.6k
Justin Reilly
Chief Executive Officer of Wavelo6.3yrsUS$573.47k0.018%
CA$ 58.4k
Francisco Obispo
Chief Technology Officerno datano datano data
Monica Webb
Senior Director of Investor Relationsno datano datano data
Jessica Maciazek
Manager of Corporate Communicationsless than a yearno datano data
Jenn Didine
Vice President of People3yrsno datano data
Steve Barnes
Chief Product Officerno datano datano data
Michael Cooperman
Senior Advisorno dataUS$320.01kno data
3.0yrs
Average Tenure
61yo
Average Age

Experienced Management: TC's management team is considered experienced (3 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Elliot Noss
Director24.3yrsUS$975.73k5.12%
CA$ 17.1m
Stephan Uhrenbacher
Directorless than a yearno data0.013%
CA$ 41.7k
Jeffrey Stewart Tory
Independent Vice Chairless than a yearno data0.026%
CA$ 87.1k
Laurenz Nienaber
Chair of the Boardless than a yearno data0.00090%
CA$ 3.0k
Allen Taylor
Directorless than a yearno data0.14%
CA$ 468.7k
Marlene Carl
Independent Director4.3yrsUS$73.28k0.00016%
CA$ 533.8
Sandra Matz
Directorless than a yearno datano data
Lee Matheson
Independent Director2.3yrsUS$73.28kno data
0.6yrs
Average Tenure
43yo
Average Age

Experienced Board: TC's board of directors are not considered experienced ( 0.6 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/02 15:20
End of Day Share Price 2025/12/01 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Tucows Inc. is covered by 6 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nicholas CortellucciAtrium Research
Thanos MoschopoulosBMO Capital Markets Equity Research
Scott CurtisCantor Fitzgerald Canada Corporation