Tucows is a Canadian internet services company operating three businesses: Tucows Domains, Ting, and Wavelo. Tucows Domains is the largest and most profitable segment, making Tucows one of the world's largest wholesale domain name registrars, managing 21.5 million domain names across brands including OpenSRS, Enom, Ascio, and EPAG. Tucows Domains sells through a network of over 32,000 resellers — typically web hosts and ISPs — operating in roughly 200 countries, and also sells directly to individuals and small businesses through its Hover retail brand. Domain registrations must be renewed annually, giving the business a naturally recurring revenue structure with a blended renewal rate of roughly 75%. Tucows Domains also offers value-added services including hosted email, WHOIS privacy, and domain expiry auctions. Tucows is expanding Domains into registry backend services, recently completing a migration of India's 4M-domain country-code TLD registry and signing a contract to migrate Radix's 10M domains across 11 gTLDs. Ting provides residential and business fiber internet service in select U.S. towns on a month-to-month basis, and is currently shifting from a capital-intensive network-builder model to a capital-light ISP model where partners own the underlying infrastructure. Wavelo provides cloud-based telecom software to communication service providers, covering subscription management, billing, and network orchestration, with EchoStar as its dominant customer, accounting for roughly 12% of total company revenue.