What move does the options market price into Tucows's report?

Implied ±13.1%, either direction.

How often does Tucows move more than the options market prices?

0 of the last 7 reports moved at least as far as the implied move.

TCXNasdaqServices-Computer Processing & Data Preparation

Tucows Inc (TCX) earnings date, market-implied expected move, and options open interest by expiry

12.55

+0.43 · +3.51%

post 12.55 −0.01%

Closed16:00 ET

Open12.34Volume72,571Mkt cap$135.5MEPS-7.54

Day12.34 – 13.3520%52-wk8.45 – 25.1724%

TCX

Tucows Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±13.1%implied · report alone

8Q avg ±4.6%·×2.87·rich

10.9014.20

straddle ±14.6%

spot 12.55exp Nov 20ATM strike 12.5ATM straddle 2.15IV 103%

Nov 4 closereport share · term structure

Expected move

Inputs

Next report

Nov 5

after close · in 1 day

confirmedQ3 FY26

Calendar

Next report

Last report

+5.61%

vs ±16.7% implied · ×0.34

shaded = implied · ▲▼ = realized

Feb 12 '26 · confirmed

Implied vs realized

Linked news

15dBMO · supplierBMO Announces Executive Appointments

News

Largest filed tie

13F top-10 QoQ

+1.07%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

68 managers

Top fund weight

0.00%

TCX weight · IWM

N-PORTJun 30 '26

3 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Tucows (TCX) reports on Nov 5 after close (confirmed date).

Implied vs realized

8 reports

0 of 7≥ implied

avg implied: ±11.5%
avg realized: ±5.1%

Nov 7 '22Nov 7 '22confirmed—▼−1.02%—

Feb 10 '23Feb 10 '23confirmed±13.8%▲+2.02%×0.15

May 8 '23May 8 '23confirmed±13.8%▼−10.39%×0.75

Feb 26 '24Feb 26 '24confirmed±11.2%▼−8.98%×0.80

Aug 12 '24Aug 12 '24confirmed±8.0%▼−4.17%×0.52

Nov 8 '24Nov 8 '24confirmed±9.5%▲+4.05%×0.43

Feb 14 '25Feb 14 '25confirmed±7.3%▲+0.26%×0.04

Q1 FY26Feb 12 '26confirmed±16.7%▲+5.61%×0.34

quarterimplied−20%0+20%realized×

Q1 FY26±16.7%▲+5.61%×0.34

Feb '25±7.3%▲+0.26%×0.04

Nov '24±9.5%▲+4.05%×0.43

Aug '24±8.0%▼−4.17%×0.52

Feb '24±11.2%▼−8.98%×0.80

May '23±13.8%▼−10.39%×0.75

2 older reports

Feb '23±13.8%▲+2.02%×0.15

Nov '22—▼−1.02%—

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 2 expiries · Nov 2 close

0.27OI · 2 expiries · Nov 2 closeP/C open interest · Nov 20 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

3240%Nov 2016d1,1970%

1,0630%Feb 19107d2.045200%2.04

ExpiryPutsCallsP/C

Nov 2016d3240%1,1970%0.27

Feb 19107d1,0630%5200%2.04

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±14.6%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

Dashed = straddleMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

−20.36%as filednet margin · revenue +4.03% QoQ · +2.13% YoY

Revenue$101M+4.03%

Gross profit$26M25.64%+6.85%

Operating income−$5M−5.43%−26.68%

Pre-tax income−$17M−10.35%

Net income−$20M−20.36%−13.06%

Cost of revenue$75M+3.10%

Operating expenses$31M+9.86%

Tax$3M+30.85%

Other expense−$12M−4.18%

Source: SEC filings · standardized · QE Jun 30 '26 · bars = % of revenue

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

CPI ×1.31· ±3.4% vs ±2.6% · 10 releases

eventrelease day|move|up · n×base

CPIconsumer prices±3.4%4 of 10×1.31

FOMCrate decision±3.4%10 of 24×1.29

NFPjobs report±2.9%3 of 10×1.12

PCEpersonal income & outlays±2.0%9 of 19×0.77

PPIproducer prices±1.6%6 of 10×0.61

CPROFcorporate profits±1.6%4 of 12×0.59

GDPgross domestic product±1.5%9 of 19×0.58

Bar = avg |move| to ±4% · tick = ±2.6% avg day · ×base = |move| ÷ ±2.6% · min 6 releases

Earnings history

EPS -1.84 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	—	-1.84	—
Q1 FY26	Feb 12 '26 · confirmed	-1.63	—
Q3 FY25	—	-2.08	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod