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Stock Ratings / Technology / TCX
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Tucows Inc. (Class A) (TCX) — RQD Stock Rating Cockpit

$12.01 +9.28% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $12.19

Tucows Inc. (Class A) (TCX) carries a Roarable Rating of E (Strong Sell) with 33/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E • RED ALERT Cap $122.9M
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on TCX Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is TCX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
▼

As of 2026-11-03, Tucows Inc. (Class A) (NASDAQ: TCX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 33/100 at a spot price of $12.01 (+9.28% 1D, market cap $122.9M). Pillar breakdown: Fundamental Cash Engine 9/20, Institutional 13F & Options Flow 9/20, SEC Balance-Sheet Forensics 8/20, FRED Macro Regime Fit 4/20, and Executive Insider Alignment 3/20. Across 715 tracked Technology issuers, TCX ranks #548 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does TCX compare to QMLS and TRAK in the Technology sector?
▼

Within the Technology sector (EDP Services), TCX carries a Roarable E (33/100 RQD), trailing P/E of N/A, gross margin of 24.1%, and ROIC of -35.0%. By comparison, QMLS (QumulusAI Inc.) holds a D- grade (42/100 RQD, P/E N/A, ROIC —, cap $116.9M) and TRAK (ReposiTrak Inc.) posts a D+ grade (54/100 RQD, P/E 20.0x, ROIC 9.9%, cap $131.0M). Among the 5-stock peer group, SSTK leads on earnings multiple (3.5x) while SSTK leads on capital efficiency (11.4% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for TCX?
▼

Per TCX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000909494), Tucows Inc. (Class A) generated $390.3M in revenue (+7.7% YoY), -$75.8M in net income, and -$22.9M in free cash flow against $730.9M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Technology with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $12.19 (+1.48%)🧬 Dilution Drag (+2.48% YoY Shares)⚙️ Cash Engine: 9/20 (D) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (33/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-8.9% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERRED ALERT • E
025507510033
3-of-3 Quant Analysts Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw D- · Rk E
Cash (9)Whales (9)SEC (8)Macro (4)CEO (3)
Each axis scored 0–20
12M PRICE TARGET CONE-11.2% Base Target
$26 Bull$11 Base$8 Bear
📬 FREE TCX RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for TCX)Realized 20D OHLCV Swing Band: ±12.5%
Deterministic 5-Pillar Attribution (33/100 Composite)
🔍 WHY TCX SCORES 33/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Cash Engine Quality+9/20 pts (27% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 24.1% Gross Margin

▲ #2 Bullish Driver: Whale & Options Positioning+9/20 pts (27% of score)

20D Institutional Volume Accumulation (±12.5% realized swing band)

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
25
Grade E$8.48+10.4% Next Q
Q2 (-2Q)
28
Grade E$9.36+14% Next Q
Q3 (-1Q)
30
Grade E$10.67+12.6% Next Q
Current
33
Grade E$12.01-8.9% Hist 90D α
Trajectory: E (25) → E (33)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a TCX Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While TCX currently carries a cautious 33/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Technology with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($10.10) and Max Pain ($12.61) forces dealer call-delta covering toward $26.43.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $TCX• $4.8M Crowd Pool • Kalshi / Polymarket Composite
Contract: “TCX Beats Next Quarterly Revenue & EPS Consensus + Hyperscaler AI CapEx Holds Record Pace”
YES 33%NO 67%Trade / Inspect Odds →
RSI-14 MOMENTUMBULLISH MOMENTUM
56.230 Oversold · 70 Hot
ALTMAN-Z SHIELDFORTRESS SAFE (>3.0)
3.80>3.0 Fortress Safe
PIOTROSKI F-SCOREWEAK QUALITY (1–4)
3 / 99-Pt Accounting
52-WEEK LASER RANGE21% OF RANGE
L: $8$12.01H: $25
1. Money & Cash Health● WEAK
Are profits real cash in the bank?

Weak cash conversion or heavy valuation strain compared to actual cash earned.

Factor Grade: DRQD 9 / 20
2. Big Money & Insiders● TRIMMING
Are whales & executives buying or selling?

Insiders and big institutional desks have been trimming shares rather than stepping up to buy.

Factor Grade: ERQD 12 / 40
3. Hidden Risks & Market Weather● WARNING
SEC fine-print scan & interest-rate fit

High sensitivity to tight interest rates or new risk warnings added to recent SEC annual filings.

Factor Grade: ERQD 12 / 40
MULTI-MODEL QUANT PANEL DELIBERATION

3-of-3 Quant Analysts Bearish Warning on TCX

Cash & Moat Bull AI
ROIC & Free Cash Flow Model
BEARISH (45)

-35.0% ROIC with 24.1% gross margin and -19.61% FCF yield.

SEC Forensic Auditor AI
10-K Accruals & Altman-Z Guard
BEARISH (40)

Altman-Z 4.20 and Piotroski 3/9 pass balance-sheet audit.

Whale & Macro Hawk AI
Options Skew, 13F & Fed NetLiq
BEARISH (27)

12/40 institutional & smart-money positioning score with 4/20 macro alignment.

Bull Case: Why Buyers Like TCX
  • ✓Established market leader in Technology with deep daily trading liquidity.
Bear Case: What Could Go Wrong
  • !Company executives have done more routine share selling than personal cash buying lately.
  • !Sensitive to high interest rates and tighter Federal Reserve market liquidity.
  • !Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins.
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring TCX)

  • ✓Walkthrough of TCX's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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Join Founding VIP Waitlist (No Card Required) →$100K Arena
TCX // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -20.62%⚡ TESTING RESISTANCE
2026-11-03O $10.43H $12.01L $10.43C $12.01VOL 63.1K
RES: $12.49SUP: $8.30SMA50: $10.10SMA200: $14.16
$20.09$16.94$13.78$10.63$7.47RES $12.49SUP $8.30$12.012026-05-042026-06-172026-08-042026-09-172026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

TCX Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 TCX Butterfly Map → + Track TCX →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
8.0%/yr Implied 5Y Growth

vs. +7.7% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on TCX today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for TCX. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for TCX today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (TCX)

Technology Rank #548 of 715 ⚔️ QMLS vs TCX Full Matrix →

1. Head-to-Head Technology Peer Comparison (TCX vs. QMLS, TRAK, CTW, SSTK)

Industry: EDP Services (163 Tracked Issuers)

Across 715 tracked Technology securities in the Roarable RQD universe, Tucows Inc. (Class A) (TCX) ranks #548 by composite RQD confidence (33/100, grade E) and #510 by equity capitalization ($122.9M). Within this direct 5-issuer industry benchmark cohort, SSTK leads on earnings valuation at 3.5x trailing P/E, while SSTK leads on capital efficiency and profitability with 11.4% ROIC and 58.9% gross margin. TRAK currently holds the highest overall quantitative score in the immediate peer group at 54/100 (D+) compared with TCX at 33/100 (E).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
TCX ACTIVE
Tucows Inc. (Class A)
E 33/100 — 24.1% -35.0% +9.28% $122.9M Benchmark Subject
QMLS
QumulusAI Inc.
D- 42/100 — — — -9.01% $116.9M /qmls-vs-tcx →
TRAK
ReposiTrak Inc.
D+ 54/100 20.0x — 9.9% -0.28% $131.0M /trak-vs-tcx →
CTW
CTW (Class A)
D- 40/100 28.9x 75.6% — -2.21% $113.2M /ctw-vs-tcx →
SSTK
Shutterstock Inc.
D 50/100 3.5x 58.9% 11.4% +1.45% $153.0M /sstk-vs-tcx →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0000909494 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Tucows Inc. (Class A) (TCX) reported GAAP revenue of $390.3M (+7.7% vs. FY2024 revenue of $362.3M , and +15.0% cumulative change since FY2023) , GAAP net income of -$75.8M, operating cash flow of -$5.8M, and free cash flow of -$22.9M (+70.0% YoY). On the balance sheet, TCX closed FY2025 with $730.9M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 3/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $390.3M -$75.8M -$5.8M -$22.9M $730.9M —
FY2024 (FY) 2024-12-31 $362.3M -$109.9M -$19.7M -$76.2M $758.8M —
FY2023 (FY) 2023-12-31 $339.3M -$96.2M -$4.8M -$4.8M — —

3. TCX Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is TCX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Tucows Inc. (Class A) (NASDAQ: TCX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 33/100 at a spot price of $12.01 (+9.28% 1D, market cap $122.9M). Pillar breakdown: Fundamental Cash Engine 9/20, Institutional 13F & Options Flow 9/20, SEC Balance-Sheet Forensics 8/20, FRED Macro Regime Fit 4/20, and Executive Insider Alignment 3/20. Across 715 tracked Technology issuers, TCX ranks #548 in composite RQD confidence.

How does TCX compare to QMLS and TRAK in the Technology sector?

Within the Technology sector (EDP Services), TCX carries a Roarable E (33/100 RQD), trailing P/E of N/A, gross margin of 24.1%, and ROIC of -35.0%. By comparison, QMLS (QumulusAI Inc.) holds a D- grade (42/100 RQD, P/E N/A, ROIC —, cap $116.9M) and TRAK (ReposiTrak Inc.) posts a D+ grade (54/100 RQD, P/E 20.0x, ROIC 9.9%, cap $131.0M). Among the 5-stock peer group, SSTK leads on earnings multiple (3.5x) while SSTK leads on capital efficiency (11.4% ROIC).

What are the biggest fundamental strengths and SEC risk factors for TCX?

Per TCX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000909494), Tucows Inc. (Class A) generated $390.3M in revenue (+7.7% YoY), -$75.8M in net income, and -$22.9M in free cash flow against $730.9M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Technology with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is TCX trading relative to its 50-day, 200-day, and 52-week technical levels?

TCX last traded at $12.01 (+9.28% on volume of 95,011 shares), positioning the stock +18.91% above its 50-day simple moving average ($10.10) and -15.18% below its 200-day simple moving average ($14.16). Across its 52-week range of $8.45 to $25.17, TCX sits at the 21.3% percentile with a 14-day RSI of 56.2 (BULLISH MOMENTUM) and an implied next-earnings move of ±12.5% ($10.51 to $13.51).

Direct Sub-Reports: TCX RQD Cockpit TCX 12M Forecast TCX Earnings & Move TCX Dividends & DRIP TCX Insiders & 13F TCX Whale Options TCX Profit Sankey TCX News & Why
ROARABLE RATING BRIEF • RQD 33/100 (E) ✓ SEC XBRL & RQD VERIFIED

TCX — Tucows Inc. (Class A): What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Tucows Inc. (Class A) (TCX) earns a live Roarable RQD composite score of 33/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $12.01 (+9.28% 1D, market capitalization $122.9M).

  • Fundamental Cash Engine (9/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of 24.1%, operating margin of -6.0%, and free cash flow yield of -19.61%.
  • Whale 13F & Options Flow (9/20) + Insider Conviction (3/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (4/20) + Forensic Balance Sheet (8/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 3/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Tucows Inc. (Class A) is a NASDAQ-listed issuer classified under the Technology sector and the EDP Services industry. The profile identifies the company's market capitalization as $0.1B. — for further business detail.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Tucows Inc. (Class A) (TCX) reported $390.3M in annual revenue (up from $362.3M in FY2024, +7.7% YoY) and -$75.8M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($339.3M revenue, -$96.2M net income) through FY2025, TCX scaled operating cash flow to -$5.8M and free cash flow to -$22.9M, backed by $730.9M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (E • RQD 33/100): Established market leader in Technology with deep daily trading liquidity. Free cash flow yield of -19.61% and institutional whale pillar of 9/20. With Fundamental Cash Engine at 9/20 and Institutional Whale Flow at 9/20, sustained execution supports upside toward the upper end of the $8.45 – $25.17 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against -6.0% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

The source therefore does not identify upstream suppliers, downstream customers, or sector correlations. — for upstream/downstream dependencies, sector correlations, or 2nd-order bottlenecks.

  • Key Question #1: Can TCX sustain or expand its -6.0% operating margin and -35.0% ROIC against EDP Services peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $390.3M and free cash flow of -$22.9M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is TCX's equity valuation to Technology capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

TCX Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Tucows Inc. (Class A) (TCX) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to TCX Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

TCX Bull vs. Bear Conversation Board — What's Your Call at $12.01?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON TCX 🐻 33% BEARISH CONVICTION
1. Pick Your Side on TCX:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
AL AlphaFlow_Cap RQD DEBATE OPENER • Verified $100K Arena Trader 🐂 BULLISH 🎯 Target: $13.30 (+21.0%)
📌 Pinned Debate

Revenue grew from $339.3M in FY 2023 to $390.3M in FY 2025, and the stock is up 5.37% on the day.

Revenue grew from $339.3M in FY 2023 to $390.3M in FY 2025, and the stock is up 5.37% on the day.. When you look under the hood at TCX, Fundamental Cash Engine is 9/20 with 24.1% gross margins and -35.0% ROIC. Bears are staring in the rearview mirror while institutional 13F flow (9/20) has been quietly accumulating below $25.17. My 12M target is $13.30.

EarningsSniper 🐂 BULL

@BearTrap_Alert Shorting a 9/20 institutional whale-flow stock at $10.99 is dangerous when funds are rotating into Technology.

BE BearTrap_Alert RQD DEBATE OPENER • Cycle Peak Watcher 🐻 BEARISH 🎯 Target: $8.35 (-24.0%)
Spot @ $10.99

Net income was negative in every reported period, with ROIC at -35% and FCF yield at -19.61%.

Here is the bear case nobody on the bull side wants to address on TCX: Net income was negative in every reported period, with ROIC at -35% and FCF yield at -19.61%.. At current EV/EBITDA multiples, even a small guidance miss in EDP Services triggers a 12-15% air pocket.

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