Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 03, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000909494 | |
Entity Registrant Name | TUCOWS INC /PA/ | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 1-32600 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 23-2707366 | |
Entity Address, Address Line One | 96 Mowat Avenue | |
Entity Address, City or Town | Toronto | |
Entity Address, State or Province | ON | |
Entity Address, Postal Zip Code | M6K 3M1 | |
City Area Code | 416 | |
Local Phone Number | 535-0123 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | TCX | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 10,624,415 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 8,310 | $ 8,311 |
Accounts receivable, net of allowance for doubtful accounts of $206 as of March 31, 2021 and $222 as of December 31, 2020 | 15,868 | 15,540 |
Inventory | 2,317 | 1,875 |
Prepaid expenses and deposits | 14,579 | 16,845 |
Derivative instrument asset, current portion (note 5) | 2,893 | 3,860 |
Deferred costs of fulfillment, current portion (note 11) | 96,861 | 93,467 |
Income taxes recoverable | 1,316 | 1,302 |
Total current assets | 142,144 | 141,200 |
Deferred costs of fulfillment, long-term portion (note 11) | 18,316 | 17,599 |
Derivative instrument asset, long-term portion (note 5) | 65 | 0 |
Deferred tax asset | 188 | 226 |
Property and equipment | 129,846 | 117,530 |
Right of use operating lease asset | 11,893 | 11,238 |
Contract costs | 369 | 362 |
Intangible assets (note 6) | 44,978 | 47,444 |
Goodwill (note 6) | 116,304 | 116,304 |
Total assets | 464,103 | 451,903 |
Current liabilities: | ||
Accounts payable | 9,969 | 6,329 |
Accrued liabilities | 11,028 | 10,235 |
Customer deposits | 15,527 | 15,402 |
Derivative instrument liability, current portion (note 5) | 83 | 99 |
Operating lease liability, current portion (note 12) | 1,982 | 1,761 |
Deferred revenue, current portion (note 10) | 132,427 | 127,336 |
Accreditation fees payable, current portion | 1,023 | 940 |
Income taxes payable | 14 | 863 |
Total current liabilities | 172,053 | 162,965 |
Derivative instrument liability, long-term portion (note 5) | 0 | 114 |
Deferred revenue, long-term portion (note 10) | 25,167 | 24,909 |
Accreditation fees payable, long-term portion | 189 | 195 |
Operating lease liability, long-term portion (note 12) | 9,668 | 9,179 |
Loan payable, long-term portion (note 7) | 121,802 | 121,733 |
Other long-term liability (note 4) | 3,512 | 3,416 |
Deferred tax liability | 24,298 | 24,694 |
Stockholders' equity (note 14) | ||
Preferred stock - no par value, 1,250,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock - no par value, 250,000,000 shares authorized; 10,624,415 shares issued and outstanding as of March 31, 2021 and 10,612,414 shares issued and outstanding as of December 31, 2020 | 21,511 | 20,798 |
Additional paid-in capital | 1,778 | 1,458 |
Retained earnings | 82,255 | 80,106 |
Accumulated other comprehensive income (note 5) | 1,870 | 2,336 |
Total stockholders' equity | 107,414 | 104,698 |
Total liabilities and stockholders' equity | 464,103 | 451,903 |
Contingencies (note 18) |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 206 | $ 222 |
Preferred stock, no par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,250,000 | 1,250,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 |
Common stock, shares issued (in shares) | 10,624,415 | 10,612,414 |
Common stock, shares outstanding (in shares) | 10,624,415 | 10,612,414 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net revenues (note 10) | $ 70,875 | $ 83,985 |
Cost of revenues (note 10) | ||
Direct cost of revenues | 46,187 | 53,188 |
Network expenses | 3,238 | 2,416 |
Depreciation of property and equipment | 3,638 | 2,877 |
Amortization of intangible assets (note 6) | 299 | 354 |
Impairment of property and equipment | 60 | 0 |
Total cost of revenues | 53,422 | 58,835 |
Gross profit | 17,453 | 25,150 |
Expenses: | ||
Sales and marketing | 8,311 | 8,985 |
Technical operations and development | 3,132 | 2,751 |
General and administrative | 4,953 | 4,741 |
Depreciation of property and equipment | 121 | 113 |
Amortization of intangible assets (note 6) | 2,320 | 2,947 |
Loss (gain) on currency forward contracts (note 5) | (253) | 441 |
Total expenses | 18,584 | 19,978 |
Income from operations | (1,131) | 5,172 |
Other income (expenses): | ||
Interest expense, net | (936) | (1,150) |
Gain on sale of Ting Customer Assets | 5,395 | 0 |
Other expense, net | (96) | (87) |
Total other income (expenses) | 4,363 | (1,237) |
Income before provision for income taxes | 3,232 | 3,935 |
Provision for income taxes (note 8) | 1,083 | 1,101 |
Net income for the period | 2,149 | 2,834 |
Other comprehensive income, net of tax | ||
Unrealized income (loss) on hedging activities (note 5) | 368 | (1,234) |
Net amount reclassified to earnings (note 5) | (834) | 43 |
Other comprehensive income (loss) net of tax expense (recovery) of ($140) and ($366) for the three months ended March 31, 2021 and March 31, 2020, respectively (note 5) | (466) | (1,191) |
Comprehensive income, net of tax for the period | $ 1,683 | $ 1,643 |
Basic earnings per common share (note 9) (in dollars per share) | $ 0.20 | $ 0.27 |
Shares used in computing basic earnings per common share (note 9) (in shares) | 10,617,807 | 10,612,230 |
Diluted earnings per common share (note 9) (in dollars per share) | $ 0.20 | $ 0.26 |
Shares used in computing diluted earnings per common share (note 9) (in shares) | 10,796,762 | 10,713,678 |
Consolidated Statements of Op_2
Consolidated Statements of Operations and Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Other comprehensive income (loss), tax | $ (140) | $ (366) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating activities: | ||
Net income for the period | $ 2,149 | $ 2,834 |
Items not involving cash: | ||
Depreciation of property and equipment | 3,759 | 2,990 |
Impairment of property and equipment | 60 | 0 |
Amortization of debt discount and issuance costs | 67 | 67 |
Amortization of intangible assets | 2,619 | 3,301 |
Net amortization contract costs | (7) | 29 |
Accretion of contingent consideration | 96 | 87 |
Deferred income taxes (recovery) | (220) | (190) |
Excess tax benefits on share-based compensation expense | (172) | (180) |
Net Right of use operating assets/Operating lease liability | 55 | (179) |
Loss on disposal of domain names | 1 | 13 |
Loss (gain) on change in the fair value of forward contracts | 166 | 348 |
Stock-based compensation | 1,022 | 801 |
Change in non-cash operating working capital: | ||
Accounts receivable | (328) | 2,151 |
Inventory | (442) | 904 |
Prepaid expenses and deposits | 2,266 | 25 |
Deferred costs of fulfillment | (4,111) | (2,853) |
Income taxes recoverable | (689) | 500 |
Accounts payable | 1,451 | 1,771 |
Accrued liabilities | 793 | (1,831) |
Customer deposits | 125 | 58 |
Deferred revenue | 5,349 | 3,342 |
Accreditation fees payable | 77 | 85 |
Net cash provided by operating activities | 14,086 | 14,073 |
Financing activities: | ||
Proceeds received on exercise of stock options | 229 | 17 |
Payment of tax obligations resulting from net exercise of stock options | (218) | (182) |
Repurchase of common stock | 0 | (3,117) |
Payment of loan payable costs | 0 | (25) |
Net cash provided by (used in) financing activities | 11 | (3,307) |
Investing activities: | ||
Additions to property and equipment | (13,944) | (9,943) |
Acquisition of intangible assets | (154) | 0 |
Net cash used in investing activities | (14,098) | (18,713) |
Increase (decrease) in cash and cash equivalents | (1) | (7,947) |
Cash and cash equivalents, beginning of period | 8,311 | 20,393 |
Cash and cash equivalents, end of period | 8,310 | 12,446 |
Supplemental cash flow information: | ||
Interest paid | 949 | 1,154 |
Income taxes paid, net | 2,381 | 956 |
Supplementary disclosure of non-cash investing and financing activities: | ||
Property and equipment acquired during the period not yet paid for | 3,320 | 1,102 |
Fair value of shares issued for acquisition of Cedar Holdings Group | 0 | 2,000 |
Fair value of contingent consideration for acquisition of Cedar Holdings Group | 0 | 3,065 |
Cedar Holdings Group, Incorporated [Member] | ||
Investing activities: | ||
Acquisition of Cedar Holdings Group, net of cash of $66 (note 4) | $ 0 | $ (8,770) |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Cedar Holdings Group, Incorporated [Member] | |
Cash acquired from acquisition of business | $ 66 |
Note 1 - Organization of the Co
Note 1 - Organization of the Company | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Tucows Inc. (referred to throughout this report as the “Company”, “Tucows”, “we”, “us” or through similar expressions) provides simple useful services that help people unlock the power of the Internet. The Company provides US consumers and small businesses with high-speed fixed Internet access in selected towns. The Company also offers Mobile Service Enabler ("MSE") solutions and professional services to retail mobile providers as well as its own retail mobile phone services. The Company is also a global distributor of Internet services, including domain name registration, digital certificates, and email. It provides these services primarily through a global Internet-based distribution network of Internet Service Providers, web hosting companies and other providers of Internet services to end-users. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 2. The accompanying unaudited interim consolidated balance sheets, and the related consolidated statements of operations and comprehensive income and cash flows reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the financial position of Tucows and its subsidiaries as at March 31, 2021 March 31, 2021 2020 10 not may The accompanying unaudited interim consolidated financial statements have been prepared by Tucows in accordance with the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in the Company's annual audited consolidated financial statements and accompanying notes have been condensed or omitted. Other than the exception noted below, these interim consolidated financial statements and accompanying notes follow the same accounting policies and methods of application used in the annual financial statements and should be read in conjunction with the Company's audited consolidated financial statements and notes thereto for the year ended December 31, 2020 2020 10 March 3, 2021 ( 2020 no three March 31, 2021 2020 3 13 |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 3. Recent Accounting Pronouncements Not In March 2020, No. 2020 04, Reference Rate Reform 848 2020 04” 2020 04 1. Modifications of contracts within the scope of Topics 310, 470, 2. Modifications of contracts within the scope of Topic 842, no not 3. Modifications of contracts do not 815 15, The amendments in ASU 2020 04 March 12, 2020 December 31, 2022. 2019 may 2020 04. |
Note 4 - Acquisitions
Note 4 - Acquisitions | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 4. On January 1, 2020, 3 2020 |
Note 5 - Derivative Instruments
Note 5 - Derivative Instruments and Hedging Activities | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 5. The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed by using derivative instruments are foreign exchange rate risk and interest rate risk. Since October 2012, May 2020, The Company does not one eighteen June 2023. The Company has designated certain of these foreign exchange transactions as cash flow hedges of forecasted transactions under ASU 2017 12, Derivatives and Hedging 815 815” 815, March 31, 2021 December 31, 2020 no As of March 31, 2021 815 As of December 31, 2020 s $31.8 million, of which $26.8 m 815 As of March 31, 2021 Maturity date (Dollar amounts in thousands of U.S. dollars) Notional amount of U.S. dollars Weighted average exchange rate of U.S. dollars Fair value Asset / (Liability) April - June 2021 9,878 1.4283 1,352 July - September 2021 10,781 1.4362 1,541 $ 20,659 1.4324 $ 2,893 As of March 31, 2021 December 31, 2020, Fair value of derivative instruments and effect of derivative instruments on financial performance The effect of these derivative instruments on our consolidated financial statements were as follows (amounts presented do not Fair value of derivative instruments in the consolidated balance sheets Derivatives (Dollar amounts in thousands of U.S. dollars) Balance Sheet Location As of March 31, 2021 Fair Value Asset (Liability) As of December 31, 2020 Fair Value Asset (Liability) Foreign Currency forward contracts designated as cash flow hedges (net) Derivative instruments $ 2,454 $ 3,254 Interest rate swap contract designated as a cash flow hedge (net) Derivative instruments (18 ) $ (213 ) Foreign Currency forward contracts not designated as cash flow hedges (net) Derivative instruments 439 606 Total foreign currency and interest swap forward contracts (net) Derivative instruments $ 2,875 $ 3,647 Movement in accumulated other comprehensive income (AOCI) balance for the three March 31, 2021 (Dollar amounts in thousands of U.S. dollars) Gains and losses on cash flow hedges Tax impact Total AOCI Opening AOCI balance - December 31, 2020 $ 3,038 $ (702 ) $ 2,336 Other comprehensive income (loss) before reclassifications 480 (112 ) 368 Amount reclassified from AOCI (1,086 ) 252 (834 ) Other comprehensive income (loss) for the three months ended March 31, 2021 (606 ) 140 (466 ) Ending AOCI Balance - March 31, 2021 $ 2,432 $ (562 ) $ 1,870 Effects of derivative instruments on income and other comprehensive income (OCI) for the three March 31, 2021 Derivatives in Cash Flow Hedging Relationship Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative Location of Gain or (Loss) Reclassified from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Operating expenses $ 949 Foreign currency forward contracts for the three months ended March 31, 2021 $ (615 ) Cost of revenues $ 156 Interest rate swap contract for the three months ended March 31, 2021 $ 149 Interest expense, net $ (19 ) Operating expenses $ (45 ) Foreign currency forward contracts for the three months ended March 31, 2020 $ (1,191 ) Cost of revenues $ (13 ) Interest rate swap contract for the three months ended March 31, 2020 $ - Interest expense, net $ - In addition to the above, for those foreign currency forward contracts not Three Months Ended March 31, Forward currency contracts not designated as hedges: 2021 2020 Gain (loss) on settlement $ 420 $ (93 ) Gain (loss) on change in fair value $ (167 ) $ (348 ) |
Note 6 - Goodwill and Other Int
Note 6 - Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 6. Goodwill: Goodwill represents the excess of the purchase price over the fair value of tangible and identifiable intangible assets acquired and liabilities assumed in our acquisitions. The Company's Goodwill balance is $116.3 million as of March 31, 2021 December 31, 2020 nil Goodwill is not No three March 31, 2021 2020 Other Intangible Assets: Intangible assets consist of acquired brand, technology, customer relationships, surname domain names, direct navigation domain names and network rights. The Company considers its intangible assets consisting of surname domain names and direct navigation domain names as indefinite life intangible assets. The Company has the exclusive right to these domain names as long as the annual renewal fees are paid to the applicable registry. Renewals occur routinely and at a nominal cost. The indefinite life intangible assets are not March 31, 2021 March 31, 2020 June 2006 Intangible assets, comprising brand, technology, customer relationships and network rights are being amortized on a straight-line basis over periods of two fifteen Net book value of acquired intangible assets consist of the following (Dollar amounts in thousands of U.S. dollars): Surname domain names Direct navigation domain names Brand Customer relationships Technology Network rights Total Amortization period indefinite life indefinite life 7 years 3 - 7 years 2 - 7 years 15 years Balances, December 31, 2020 $ 11,157 $ 1,135 $ 7,021 $ 26,664 $ 274 $ 1,193 $ 47,444 Acquisition of customer relationships - - - 154 - - 154 Additions to/(disposals from) domain portfolio, net (1 ) - - - - - (1 ) Amortization expense - - (518 ) (1,802 ) (274 ) (25 ) (2,619 ) Balances, March 31, 2021 $ 11,156 $ 1,135 $ 6,503 $ 25,016 $ - $ 1,168 $ 44,978 The following table shows the estimated amortization expense for each of the next 5 no Year ending December 31, Remainder of 2021 $ 7,025 2022 9,364 2023 8,674 2024 3,226 2025 2,587 Thereafter 1,811 Total $ 32,687 |
Note 7 - Loan Payable
Note 7 - Loan Payable | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 7. Amended 2019 On June 14, 2019, November 27, 2019, No. 1 2019 The Amended 2019 January 20, 2017 “2017 The obligations of the Company under the Amended 2019 first four June 13, 2023. Credit Facility Terms The Amended 2019 no The Amended 2019 2019 2019 3.50:1; 2019 not 3.00:1. 2.00:1. three March 31, 2021 three March 31, 2020 Borrowings under the Amended 2019 If Total Funded Debt to EBITDA is: Availment type or fee Less than 1.00 Greater than or equal to 1.00 and less than 2.00 Greater than or equal to 2.00 and less than 2.50 Greater than or equal to 2.50 Canadian dollar borrowings based on Bankers’ Acceptance or U.S. dollar borrowings based on LIBOR (Margin) 1.50 % 1.85 % 2.35 % 2.85 % Canadian or U.S. dollar borrowings based on Prime Rate or U.S. dollar borrowings based on Base Rate (Margin) 0.25 % 0.60 % 1.10 % 1.60 % Standby fees 0.30 % 0.37 % 0.47 % 0.57 % The following table summarizes the Company’s borrowings under the credit facilities (Dollar amounts in thousands of U.S. dollars): March 31, 2021 December 31, 2020 Revolver $ 122,400 $ 122,400 Less: unamortized debt discount and issuance costs (598 ) (667 ) Total loan payable 121,802 121,733 Less: loan payable, current portion - - Loan payable, long-term portion $ 121,802 $ 121,733 The following table summarizes our scheduled principal repayments as of March 31, 2021 Remainder of 2021 $ - 2022 - 2023 122,400 $ 122,400 |
Note 8 - Income Taxes
Note 8 - Income Taxes | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 8. For the three March 31, 2021 December 31, 2021 ( 2021” lion No. 2016 09— Compensation—Stock Compensation 718 2016 09” three March 31, 2021 Comparatively, for the three March 31, 2020 2020 $0.2 2016 09. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not In connection with the eNom acquisition in 2017, first 2019, February 2019, "9100 November 2019, 9100 30 December 2019 not 9100 no March 31, 2021 The Company recognizes accrued interest and penalties related to income taxes in income tax expense. The Company did not March 31, 2021 December 31, 2020 |
Note 9 - Basic and Diluted Earn
Note 9 - Basic and Diluted Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 9. The following table reconciles the numerators and denominators of the basic and diluted earnings per common share computation (Dollar amounts in thousands of US dollars, except for share data): Three Months Ended March 31, 2021 2020 Numerator for basic and diluted earnings per common share: Net income for the period $ 2,149 $ 2,834 Denominator for basic and diluted earnings per common share: Basic weighted average number of common shares outstanding 10,617,807 10,612,230 Effect of outstanding stock options 178,955 101,448 Diluted weighted average number of shares outstanding 10,796,762 10,713,678 Basic earnings per common share $ 0.20 $ 0.27 Diluted earnings per common share $ 0.20 $ 0.26 For the three March 31, 2021 e 4,004 c not three March 31, 2020 not |
Note 10 - Revenue
Note 10 - Revenue | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 10. Significant accounting policy The Company’s revenues are derived from (a) the provisioning of retail fiber Internet services in our Fiber Internet Services segment, (b) the provisioning of wholesale mobile platform services, professional services and the provisioning of retail mobile services in our Mobile Services segment; and from (c) domain name registration contracts, other domain related value-added services, domain sale contracts, and other advertising revenue in our Domain Services segment. Amounts received in advance of meeting the revenue recognition criteria described below are recorded as deferred revenue. All products are generally sold without the right of return or refund. Revenue is measured based on consideration specified in a contract with a customer and excludes any sales incentives and amounts collected on behalf of third Nature of goods and services The following is a description of principal activities – separated by reportable segments – from which the Company generates its revenue. For more detailed information about reportable segments, see Note 13 (a) Fiber Internet Services The Company generates Fiber Internet Services revenues primarily through the provisioning of fixed high-speed Internet access, Ting Internet, as well as billing solutions to Internet Service Providers (“ISPs”). Fiber Internet services (Ting Internet) contracts provide customers Internet access at their home or business through the installation and use of our fiber optic network. Ting Internet contracts are generally prepaid and grant customers with unlimited bandwidth based on a fixed price per month basis. Because consideration is collected before the service period, revenue is initially deferred and recognized as the Company performs its obligation to provide Internet access. Though the Company does not Ting Internet access services are primarily contracted through the Ting website, for one no In those cases, where payment is not not (b) Mobile Services The Company generates Mobile Services revenues through the provisioning of mobile services to wholesale and retail customers. Mobile services consist of mobile platform services provided to wholesale customers to whom we also provide other professional services. Mobile services also consist of retail services provided to Ting Mobile customers. Mobile platform services agreements contain both MSE services and professional services. MSE services represent a single promise to provide continuous access (i.e. a stand-ready performance obligation) to the platform and software solutions. As each month of providing access to the platform is substantially the same and the customer simultaneously receives and consumes the benefits as access is provided, the performance obligation is comprised of a series of distinct service periods. Consideration for these arrangements is variable each month depending on the number of subscribers hosted on the platform. The Company also provides professional services as a part of the mobile platform services agreements. These professional services can include implementation, training, consulting or software development/modification services. Revenues from arrangements to provide professional services are generally distinct from the other promises in the contract(s) and are recognized as the related services are performed. Consideration payable under the professional service arrangements is included with the variable consideration from the mobile platform services, which would represent variable consideration estimated using the most likely amount based on the range of hours expected to be incurred in providing the services. Where consideration for professional services is included in the consideration for mobile platform services, the Company estimates the standalone selling price (“SSP”) for professional services based on observable standalone sales, and applies the residual approach to estimate the SSP for mobile platform services. The total variable consideration is estimated at contract inception (considering any constraints that may Other professional services consist of professional service arrangements that are billed separately on a time-and-materials basis as well as revenues from the Transitional Services Agreement (“TSA”) with DISH Wireless L.L.C ("DISH"). For professional services billed separately on a time-and-materials basis, revenues are recognized based on the actual hours of services provided. Under the TSA, the Company will provide certain other services such as customer service, marketing and fulfillment services. DISH has the option to terminate services provided under the TSA throughout the term of the agreement, which is for five August 1, 2020. Retail mobile services (Ting Mobile) wireless usage contracts grant customers access to standard talk, text and data mobile services. Some Ting Mobile contracts are billed based on the actual amount of monthly services utilized by each customer during their billing cycle. Voice minutes, text messages and megabytes of data are each billed separately based on a tiered pricing program. Some contracts are billed a flat rate for unlimited talk and text plus a fixed amount of data. All customers are billed on a postpaid basis. The Company recognizes revenue for Ting Mobile usage based on the actual amount of monthly services utilized by each customer. Ting Mobile services are primarily contracted through the Ting website, for one no not In those cases, where payment is not not (c) Domain Services Domain registration contracts, which can be purchased for terms of one ten Domain related value-added services like digital certifications, WHOIS privacy, website hosting and hosted email provide our resellers and retail registrant customers with tools and additional functionality to be used in conjunction with domain registrations. All domain related value-added services are considered distinct performance obligations which transfer the promised service to the customer over the contracted term. Fees charged to customers for domain related value-added services are collected at the inception of the contract, and revenue is recognized on a straight-line basis over the contracted term, consistent with the satisfaction of the performance obligations. The Company is an ICANN accredited registrar. Thus, the Company is the primary obligor with our reseller and retail registrant customers and is responsible for the fulfillment of our registrar services to those parties. As a result, the Company reports revenue in the amount of the fees we receive directly from our reseller and retail registrant customers. Our reseller customers maintain the primary obligor relationship with their retail customers, establish pricing and retain credit risk to those customers. Accordingly, the Company does not The Company also sells the rights to the Company’s portfolio domains or names acquired through the Company’s domain expiry stream. Revenue generated from sale of domain name contracts, containing a distinct performance obligation to transfer the domain name rights under the Company’s control, is generally recognized once the rights have been transferred and payment has been received in full. Advertising revenue is derived through domain parking monetization, whereby the Company contracts with third no Disaggregation of Revenue The following is a summary of the Company’s revenue earned from each significant revenue stream (Dollar amounts in thousands of U.S. dollars): Three Months Ended March 31, 2021 2020 Fiber Internet Services: Fiber Internet Services $ 5,371 $ 4,308 Mobile Services: Retail mobile services 2,014 20,148 Mobile platform services 349 - Other professional services 1,916 - Total Mobile 4,279 20,148 Domain Services: Wholesale Domain Services 46,991 45,964 Value Added Services 5,080 4,306 Total Wholesale 52,071 50,270 Retail 9,154 9,259 Total Domain Services 61,225 59,529 $ 70,875 $ 83,985 During the three March 31, 2021 three March 31, 2020 no 10% At March 31, 2021 The following is a summary of the Company’s cost of revenue from each significant revenue stream (Dollar amounts in thousands of U.S. dollars): Three Months Ended March 31, 2021 2020 Fiber Internet Services: Fiber Internet Services $ 2,635 $ 1,716 Mobile Services: Retail mobile services 1,055 9,857 Mobile platform services 58 - Other professional services 1,666 - Total Mobile 2,779 9,857 Domain Services: Wholesale Domain Services 35,773 36,469 Value Added Services 599 757 Total Wholesale 36,372 37,226 Retail 4,401 4,389 Total Domain Services 40,773 41,615 Network Expenses: Network, other costs 3,238 2,416 Network, depreciation and amortization costs 3,937 3,231 Network, impairment 60 - Total Network Expenses 7,235 5,647 $ 53,422 $ 58,835 Contract Balances The following table provides information about contract liabilities (deferred revenue) from contracts with customers. The Company accounts for contract assets and liabilities on a contract-by-contract basis, with each contract presented as either a net contract asset or a net contract liability accordingly. Given that Company’s long-term contracts with customers are billed in advance of service, the Company’s contract liabilities relate to amounts recorded as deferred revenues. The Company does not not Deferred revenue primarily relates to the portion of the transaction price received in advance related to the unexpired term of domain name registrations and other domain related value-added services, on both a wholesale and retail basis, net of external commissions. To a lesser extent, deferred revenue also includes a portion of the transaction price received from mobile platform services, which is related to professional services. Significant changes in deferred revenue for the three March 31, 2021 March 31, 2021 Balance, beginning of period $ 152,245 Deferred revenue 66,981 Recognized revenue (61,632 ) Balance, end of period $ 157,594 Remaining Performance Obligations: For retail mobile and internet access services, where the performance obligation is part of contracts that have an original expected duration of one one not Although domain registration contracts are deferred over the lives of the individual contracts, which can range from one ten twelve Deferred revenue related to Exact hosting contracts is also deferred over the lives of the individual contracts, which are expected to be fully recognized within the next twelve Professional service revenue related to mobile platform services is deferred over a maximum of twelve |
Note 11 - Costs to Obtain and F
Note 11 - Costs to Obtain and Fulfill a Contract | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Capitalized Contract Costs [Text Block] | 11. Deferred costs of fulfillment Deferred costs to fulfill contracts primarily consist of domain registration costs which have been paid to a domain registry, and are capitalized as deferred costs of fulfillment. These costs are deferred and amortized over the life of the domain which generally ranges from one ten three March 31, 2021 no three March 31, 2021 The breakdown of the movement in the prepaid domain name registry and ancillary services fees balance for the three March 31, 2021 March 31, 2021 Balance, beginning of period $ 111,066 Deferral of costs 52,063 Recognized costs (47,952 ) Balance, end of period $ 115,177 |
Note 12 - Leases
Note 12 - Leases | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 12. We lease datacenters, corporate offices and fiber-optic cables under operating leases. The Company does not Our leases have remaining lease terms of 1 year to 20 years, some of which may may The components of lease expense were as follows (Dollar amounts in thousands of U.S. dollars): For the three months ended For the three months ended March 31, 2021 March 31, 2020 Operating Lease Cost (leases with a total term greater than 12 months) $ 534 $ 547 Short-term Lease Cost (leases with a total term of 12 months or less) 50 244 Variable Lease Cost 176 128 Total Lease Cost $ 760 $ 919 Lease Cost is presented in general and administrative expenses and network expenses within our consolidated statements of operations and comprehensive income. Information related to leases was as follows (Dollar amounts in thousands of U.S. dollars): For the three months ended For the three months ended Supplemental cashflow information: March 31, 2021 March 31, 2020 Operating Lease - Operating Cash Flows (Fixed Payments) $ 551 $ 559 Operating Lease - Operating Cash Flows (Liability Reduction) $ 472 $ 438 New ROU Assets - Operating Leases $ 1,394 $ 875 Supplemental balance sheet information related to leases: March 31, 2021 December 31, 2020 Weighted Average Discount Rate 3.38 % 4.03 % Weighted Average Remaining Lease Term 8.01 yrs 8.60 yrs Maturity of lease liability as of March 31, 2021 March 31, 2021 Remaining of 2021 $ 1,724 2022 2,349 2023 2,287 2024 1,623 2025 1,078 Thereafter 4,130 Total future lease payments 13,191 Less imputed interest 1,541 Total $ 11,650 Operating lease payments include payments under the non-cancellable term, without any additional amounts related to options to extend lease terms that are reasonably certain of being exercised. As of March 31, 2021 we have not not The Company has elected to use the single exchange rate approach when accounting for lease modifications. Under the single exchange rate approach, the entire right of use asset is revalued at the date of modification in the Company’s functional currency provided the re-measurement is not |
Note 13 - Segment Reporting
Note 13 - Segment Reporting | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 13. Reportable operating segments: We are organized and managed based on three operating segments which are differentiated primarily by their services, the markets they serve and the regulatory environments in which they operate. No During the first 2021, three two The change to our reportable operating segments was the result of a shift in our business and management structures that was initiated in 2020 first 2021. first 2021, two not not Our reportable operating segments and their principal activities consist of the following: 1. 2. 3. Key measure of segment performance: The CEO, as the chief operating decision maker, regularly reviews the operations and performance by segment. The CEO reviews segment gross margin and adjusted EBITDA (as defined below) as (i) key measures of performance for each segment and (ii) to make decisions about the allocation of resources. During the first 2021, one The change to our key measures of segment performance was also a result of shift in our business and management structures that were completed in the first 2021, first 2021, Our key measures of segment performance and their definitions are: 1. 2. one not not not Our comparative period financial results have also been reclassified to reflect the current key measures of segment performance. The Company believes that both segment gross margin and adjusted EBITDA measures are important indicators of the operational strength and performance of its segments, by identifying those items that are not not not 2 10 Information by reportable segments (with the exception of disaggregated revenue, which is discussed in “Note 10 Fiber Internet Services Mobile Services Domain Services Corporate Consolidated Totals For the Three Months Ended March 31, 2021 Net Revenues $ 5,371 $ 4,279 $ 61,225 $ - $ 70,875 Direct cost of revenues 2,635 2,778 40,774 - 46,187 Segment Gross Margin 2,736 1,501 20,451 - 24,688 Adjusted EBITDA $ (2,593 ) $ 4,478 $ 13,820 $ (2,981 ) $ 12,724 Fiber Internet Services Mobile Services Domain Services Corporate Consolidated Totals For the Three Months Ended March 31, 2020 Net Revenues $ 4,308 $ 20,148 $ 59,529 $ - $ 83,985 Direct cost of revenues 1,716 9,857 41,615 - 53,188 Segment Gross Margin 2,592 10,291 17,914 - 30,797 Adjusted EBITDA $ (1,062 ) $ 4,989 $ 11,547 $ (2,793 ) $ 12,681 Reconciliation of Adjusted EBITDA to Income before Provision for Income Taxes Three Months Ended March 31, (In Thousands of US Dollars) 2021 2020 (unaudited) (unaudited) (unaudited) Adjusted EBITDA $ 12,724 $ 12,681 Depreciation of property and equipment 3,759 2,990 Impairment of property and equipment 60 - Amortization of intangible assets 2,619 3,301 Interest expense, net 936 1,150 Accretion of contingent consideration 96 87 Stock-based compensation 1,022 801 Unrealized loss (gain) on change in fair value of forward contracts 166 348 Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities 67 (42 ) Acquisition and other costs 1 767 111 Income before provision for income taxes $ 3,232 $ 3,935 1 March 2019, January 2020, August 2020. (b) The following is a summary of the Company’s property and equipment by geographic region (Dollar amounts in thousands of US dollars): March 31, 2021 December 31, 2020 Canada $ 2,435 $ 2,521 United States 127,371 114,968 Europe 40 41 $ 129,846 $ 117,530 (c) The following is a summary of the Company’s amortizable intangible assets by geographic region (Dollar amounts in thousands of US dollars): March 31, 2021 December 31, 2020 Canada $ 2,135 $ 2,385 United States 30,552 32,767 $ 32,687 $ 35,152 (d) The following is a summary of the Company’s deferred tax asset, net of valuation allowance, by geographic region (Dollar amounts in thousands of US dollars): March 31, 2021 December 31, 2020 Germany $ 188 $ 226 $ 188 $ 226 (e) Valuation and qualifying accounts (Dollar amounts in thousands of US dollars): Allowance for doubtful accounts Balance at beginning of period Charged to costs and expenses Write-offs during period Balance at end of period Three Months Ended March 31, 2021 $ 222 $ - $ 16 $ 206 Twelve months ended December 31, 2020 $ 131 $ 91 $ - $ 222 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 14. The following table summarizes stockholders' equity transactions for the three Accumulated Additional other Total Common stock paid in Retained comprehensive stockholders' Number Amount capital earnings income (loss) equity Balances, December 31, 2020 10,612,414 $ 20,798 $ 1,458 $ 80,106 $ 2,336 $ 104,698 Exercise of stock options 28,337 713 (484 ) - - 229 Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration (16,336 ) - (218 ) - - (218 ) Stock-based compensation - - 1,022 - - 1,022 Net income - - - 2,149 - 2,149 Other comprehensive income (loss) - - - - (466 ) (466 ) Balances, March 31, 2021 10,624,415 $ 21,511 $ 1,778 $ 82,255 $ 1,870 $ 107,414 2021 On February 9, 2021, February 10, 2021 February 9, 2022. three March 31, 2021 not 2020 On February 12, 2020, February 13, 2020 February 12, 2021. three March 31, 2021 not three March 31, 2020 2019 On February 13, 2019, February 14, 2019 February 13, 2020. three March 31, 2020, not |
Note 15 - Share-based Payments
Note 15 - Share-based Payments | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 15. Stock options The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model. Because option-pricing models require the use of subjective assumptions, changes in these assumptions can materially affect the fair value of the options. The assumptions presented in the table below represent the weighted average of the applicable assumption used to value stock options at their grant date. The Company calculates expected volatility based on historical volatility of the Company's common shares. The expected term, which represents the period of time that options granted are expected to be outstanding, is estimated based on historical exercise experience. The Company evaluated historical exercise behavior when determining the expected term assumptions. The risk-free rate assumed in valuing the options is based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the option. The Company determines the expected dividend yield percentage by dividing the expected annual dividend by the market price of Tucows Inc. common shares at the date of grant. Details of stock option transactions for the three March 31, 2021 March 31, 2020 Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Number of shares Weighted average exercise price per share Number of shares Weighted average exercise price per share Outstanding, beginning of period 845,020 $ 55.31 754,497 $ 49.94 Granted - - 5,500 47.35 Exercised (28,337 ) 47.03 (25,013 ) 20.59 Forfeited (8,064 ) 60.72 (3,489 ) 61.73 Expired - - (1,458 ) 60.91 Outstanding, end of period 808,619 55.55 730,037 50.85 Options exercisable, end of period 378,258 $ 49.35 349,845 $ 41.65 As of March 31, 2021 Options outstanding Options exercisable Exercise price Number outstanding Weighted average exercise price per share Weighted average remaining contractual life (years) Aggregate intrinsic value Number exercisable Weighted average exercise price per share Weighted average remaining contractual life (years) Aggregate intrinsic value $15.93 - $19.95 42,064 $ 18.05 0.8 $ 2,501 42,064 $ 18.05 0.8 $ 2,501 $21.10 - $27.53 36,250 23.76 1.2 1,948 36,250 23.76 1.2 1,948 $35.25 - $37.35 5,625 36.88 1.2 228 5,625 36.88 1.2 228 $46.90 - $48.00 13,000 47.36 4.8 392 6,000 47.17 3.5 182 $51.82 - $59.98 291,372 55.52 3.2 6,405 217,616 55.50 3.1 4,787 $60.01 - $68.41 400,308 62.07 5.3 6,177 70,703 63.32 4.6 1,002 $72.50 - $72.50 20,000 72.50 6.7 100 - - - - 808,619 $ 55.55 4.1 $ 17,751 378,258 $ 49.35 2.9 $ 10,648 Total unrecognized compensation cost relating to unvested stock options at March 31, 2021 mate ly m il of The Company recorded stock-based compensation of $1.0 million for the three March 31, 2021 three March 31, 2020 The Company has not |
Note 16 - Fair Value Measuremen
Note 16 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 16. For financial assets and liabilities recorded in our financial statements at fair value we utilize a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three 1 2 3 The following table provides a summary of the fair values of the Company’s derivative instruments measured at fair value on a recurring basis as at March 31, 2021 March 31, 2021 Fair Value Measurement Using Assets (Liabilities) Level 1 Level 2 Level 3 at Fair value Derivative instrument asset, net $ - $ 2,875 $ - $ 2,875 Total assets, net $ - $ 2,875 $ - $ 2,875 The following table provides a summary of the fair values of the Company’s derivative instruments measured at fair value on a recurring basis as at December 31, 2020 December 31, 2020 Fair Value Measurement Using Assets (Liabilities) Level 1 Level 2 Level 3 at Fair value Derivative instrument asset, net $ - $ 3,647 $ - $ 3,647 Total assets, net $ - $ 3,647 $ - $ 3,647 |
Note 17 - Other Income
Note 17 - Other Income | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | 17. On August 1, 2020, one nil three March 31, 2021 March 31, 2020, Three Months Ended March 31, 2021 2020 Income earned on sale of Transferred Assets 5,395 - Gain on sale of Ting Customer Assets $ 5,395 $ - |
Note 18 - Commitments and Conti
Note 18 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 18. From time to time, the Company has legal claims and lawsuits in connection with its ordinary business operations. The Company vigorously defends such claims. While the final outcome with respect to any actions or claims outstanding or pending as of March 31, 2021 not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Not In March 2020, No. 2020 04, Reference Rate Reform 848 2020 04” 2020 04 1. Modifications of contracts within the scope of Topics 310, 470, 2. Modifications of contracts within the scope of Topic 842, no not 3. Modifications of contracts do not 815 15, The amendments in ASU 2020 04 March 12, 2020 December 31, 2022. 2019 may 2020 04. |
Note 5 - Derivative Instrumen_2
Note 5 - Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | Maturity date (Dollar amounts in thousands of U.S. dollars) Notional amount of U.S. dollars Weighted average exchange rate of U.S. dollars Fair value Asset / (Liability) April - June 2021 9,878 1.4283 1,352 July - September 2021 10,781 1.4362 1,541 $ 20,659 1.4324 $ 2,893 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Derivatives (Dollar amounts in thousands of U.S. dollars) Balance Sheet Location As of March 31, 2021 Fair Value Asset (Liability) As of December 31, 2020 Fair Value Asset (Liability) Foreign Currency forward contracts designated as cash flow hedges (net) Derivative instruments $ 2,454 $ 3,254 Interest rate swap contract designated as a cash flow hedge (net) Derivative instruments (18 ) $ (213 ) Foreign Currency forward contracts not designated as cash flow hedges (net) Derivative instruments 439 606 Total foreign currency and interest swap forward contracts (net) Derivative instruments $ 2,875 $ 3,647 |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Gains and losses on cash flow hedges Tax impact Total AOCI Opening AOCI balance - December 31, 2020 $ 3,038 $ (702 ) $ 2,336 Other comprehensive income (loss) before reclassifications 480 (112 ) 368 Amount reclassified from AOCI (1,086 ) 252 (834 ) Other comprehensive income (loss) for the three months ended March 31, 2021 (606 ) 140 (466 ) Ending AOCI Balance - March 31, 2021 $ 2,432 $ (562 ) $ 1,870 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Derivatives in Cash Flow Hedging Relationship Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative Location of Gain or (Loss) Reclassified from AOCI into Income Amount of Gain or (Loss) Reclassified from AOCI into Income Operating expenses $ 949 Foreign currency forward contracts for the three months ended March 31, 2021 $ (615 ) Cost of revenues $ 156 Interest rate swap contract for the three months ended March 31, 2021 $ 149 Interest expense, net $ (19 ) Operating expenses $ (45 ) Foreign currency forward contracts for the three months ended March 31, 2020 $ (1,191 ) Cost of revenues $ (13 ) Interest rate swap contract for the three months ended March 31, 2020 $ - Interest expense, net $ - |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | Three Months Ended March 31, Forward currency contracts not designated as hedges: 2021 2020 Gain (loss) on settlement $ 420 $ (93 ) Gain (loss) on change in fair value $ (167 ) $ (348 ) |
Note 6 - Goodwill and Other I_2
Note 6 - Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Surname domain names Direct navigation domain names Brand Customer relationships Technology Network rights Total Amortization period indefinite life indefinite life 7 years 3 - 7 years 2 - 7 years 15 years Balances, December 31, 2020 $ 11,157 $ 1,135 $ 7,021 $ 26,664 $ 274 $ 1,193 $ 47,444 Acquisition of customer relationships - - - 154 - - 154 Additions to/(disposals from) domain portfolio, net (1 ) - - - - - (1 ) Amortization expense - - (518 ) (1,802 ) (274 ) (25 ) (2,619 ) Balances, March 31, 2021 $ 11,156 $ 1,135 $ 6,503 $ 25,016 $ - $ 1,168 $ 44,978 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending December 31, Remainder of 2021 $ 7,025 2022 9,364 2023 8,674 2024 3,226 2025 2,587 Thereafter 1,811 Total $ 32,687 |
Note 7 - Loan Payable (Tables)
Note 7 - Loan Payable (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Standby Fees Based on Total Funded Debt to EBITDA Ratio [Table Text Block] | If Total Funded Debt to EBITDA is: Availment type or fee Less than 1.00 Greater than or equal to 1.00 and less than 2.00 Greater than or equal to 2.00 and less than 2.50 Greater than or equal to 2.50 Canadian dollar borrowings based on Bankers’ Acceptance or U.S. dollar borrowings based on LIBOR (Margin) 1.50 % 1.85 % 2.35 % 2.85 % Canadian or U.S. dollar borrowings based on Prime Rate or U.S. dollar borrowings based on Base Rate (Margin) 0.25 % 0.60 % 1.10 % 1.60 % Standby fees 0.30 % 0.37 % 0.47 % 0.57 % |
Schedule of Debt [Table Text Block] | March 31, 2021 December 31, 2020 Revolver $ 122,400 $ 122,400 Less: unamortized debt discount and issuance costs (598 ) (667 ) Total loan payable 121,802 121,733 Less: loan payable, current portion - - Loan payable, long-term portion $ 121,802 $ 121,733 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Remainder of 2021 $ - 2022 - 2023 122,400 $ 122,400 |
Note 9 - Basic and Diluted Ea_2
Note 9 - Basic and Diluted Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2021 2020 Numerator for basic and diluted earnings per common share: Net income for the period $ 2,149 $ 2,834 Denominator for basic and diluted earnings per common share: Basic weighted average number of common shares outstanding 10,617,807 10,612,230 Effect of outstanding stock options 178,955 101,448 Diluted weighted average number of shares outstanding 10,796,762 10,713,678 Basic earnings per common share $ 0.20 $ 0.27 Diluted earnings per common share $ 0.20 $ 0.26 |
Note 10 - Revenue (Tables)
Note 10 - Revenue (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2021 2020 Fiber Internet Services: Fiber Internet Services $ 5,371 $ 4,308 Mobile Services: Retail mobile services 2,014 20,148 Mobile platform services 349 - Other professional services 1,916 - Total Mobile 4,279 20,148 Domain Services: Wholesale Domain Services 46,991 45,964 Value Added Services 5,080 4,306 Total Wholesale 52,071 50,270 Retail 9,154 9,259 Total Domain Services 61,225 59,529 $ 70,875 $ 83,985 |
Schedule of Cost of Revenues by Revenue Stream [Table Text Block] | Three Months Ended March 31, 2021 2020 Fiber Internet Services: Fiber Internet Services $ 2,635 $ 1,716 Mobile Services: Retail mobile services 1,055 9,857 Mobile platform services 58 - Other professional services 1,666 - Total Mobile 2,779 9,857 Domain Services: Wholesale Domain Services 35,773 36,469 Value Added Services 599 757 Total Wholesale 36,372 37,226 Retail 4,401 4,389 Total Domain Services 40,773 41,615 Network Expenses: Network, other costs 3,238 2,416 Network, depreciation and amortization costs 3,937 3,231 Network, impairment 60 - Total Network Expenses 7,235 5,647 $ 53,422 $ 58,835 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | March 31, 2021 Balance, beginning of period $ 152,245 Deferred revenue 66,981 Recognized revenue (61,632 ) Balance, end of period $ 157,594 |
Note 11 - Costs to Obtain and_2
Note 11 - Costs to Obtain and Fulfill a Contract (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Capitalized Contract Cost [Table Text Block] | March 31, 2021 Balance, beginning of period $ 111,066 Deferral of costs 52,063 Recognized costs (47,952 ) Balance, end of period $ 115,177 |
Note 12 - Leases (Tables)
Note 12 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | For the three months ended For the three months ended March 31, 2021 March 31, 2020 Operating Lease Cost (leases with a total term greater than 12 months) $ 534 $ 547 Short-term Lease Cost (leases with a total term of 12 months or less) 50 244 Variable Lease Cost 176 128 Total Lease Cost $ 760 $ 919 For the three months ended For the three months ended Supplemental cashflow information: March 31, 2021 March 31, 2020 Operating Lease - Operating Cash Flows (Fixed Payments) $ 551 $ 559 Operating Lease - Operating Cash Flows (Liability Reduction) $ 472 $ 438 New ROU Assets - Operating Leases $ 1,394 $ 875 Supplemental balance sheet information related to leases: March 31, 2021 December 31, 2020 Weighted Average Discount Rate 3.38 % 4.03 % Weighted Average Remaining Lease Term 8.01 yrs 8.60 yrs |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | March 31, 2021 Remaining of 2021 $ 1,724 2022 2,349 2023 2,287 2024 1,623 2025 1,078 Thereafter 4,130 Total future lease payments 13,191 Less imputed interest 1,541 Total $ 11,650 |
Note 13 - Segment Reporting (Ta
Note 13 - Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Condensed Income Statement [Table Text Block] | Fiber Internet Services Mobile Services Domain Services Corporate Consolidated Totals For the Three Months Ended March 31, 2021 Net Revenues $ 5,371 $ 4,279 $ 61,225 $ - $ 70,875 Direct cost of revenues 2,635 2,778 40,774 - 46,187 Segment Gross Margin 2,736 1,501 20,451 - 24,688 Adjusted EBITDA $ (2,593 ) $ 4,478 $ 13,820 $ (2,981 ) $ 12,724 Fiber Internet Services Mobile Services Domain Services Corporate Consolidated Totals For the Three Months Ended March 31, 2020 Net Revenues $ 4,308 $ 20,148 $ 59,529 $ - $ 83,985 Direct cost of revenues 1,716 9,857 41,615 - 53,188 Segment Gross Margin 2,592 10,291 17,914 - 30,797 Adjusted EBITDA $ (1,062 ) $ 4,989 $ 11,547 $ (2,793 ) $ 12,681 Reconciliation of Adjusted EBITDA to Income before Provision for Income Taxes Three Months Ended March 31, (In Thousands of US Dollars) 2021 2020 (unaudited) (unaudited) (unaudited) Adjusted EBITDA $ 12,724 $ 12,681 Depreciation of property and equipment 3,759 2,990 Impairment of property and equipment 60 - Amortization of intangible assets 2,619 3,301 Interest expense, net 936 1,150 Accretion of contingent consideration 96 87 Stock-based compensation 1,022 801 Unrealized loss (gain) on change in fair value of forward contracts 166 348 Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities 67 (42 ) Acquisition and other costs 1 767 111 Income before provision for income taxes $ 3,232 $ 3,935 |
Schedule of Property Plant and Equipment by Geographic Region [Table Text Block] | March 31, 2021 December 31, 2020 Canada $ 2,435 $ 2,521 United States 127,371 114,968 Europe 40 41 $ 129,846 $ 117,530 |
Schedule of Acquired Intangible Assets by Major Class [Table Text Block] | March 31, 2021 December 31, 2020 Canada $ 2,135 $ 2,385 United States 30,552 32,767 $ 32,687 $ 35,152 |
Schedule of Deferred Tax Asset Net By Geographic Region [Table Text Block] | March 31, 2021 December 31, 2020 Germany $ 188 $ 226 $ 188 $ 226 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Allowance for doubtful accounts Balance at beginning of period Charged to costs and expenses Write-offs during period Balance at end of period Three Months Ended March 31, 2021 $ 222 $ - $ 16 $ 206 Twelve months ended December 31, 2020 $ 131 $ 91 $ - $ 222 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Accumulated Additional other Total Common stock paid in Retained comprehensive stockholders' Number Amount capital earnings income (loss) equity Balances, December 31, 2020 10,612,414 $ 20,798 $ 1,458 $ 80,106 $ 2,336 $ 104,698 Exercise of stock options 28,337 713 (484 ) - - 229 Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration (16,336 ) - (218 ) - - (218 ) Stock-based compensation - - 1,022 - - 1,022 Net income - - - 2,149 - 2,149 Other comprehensive income (loss) - - - - (466 ) (466 ) Balances, March 31, 2021 10,624,415 $ 21,511 $ 1,778 $ 82,255 $ 1,870 $ 107,414 |
Note 15 - Share-based Payments
Note 15 - Share-based Payments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Number of shares Weighted average exercise price per share Number of shares Weighted average exercise price per share Outstanding, beginning of period 845,020 $ 55.31 754,497 $ 49.94 Granted - - 5,500 47.35 Exercised (28,337 ) 47.03 (25,013 ) 20.59 Forfeited (8,064 ) 60.72 (3,489 ) 61.73 Expired - - (1,458 ) 60.91 Outstanding, end of period 808,619 55.55 730,037 50.85 Options exercisable, end of period 378,258 $ 49.35 349,845 $ 41.65 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options outstanding Options exercisable Exercise price Number outstanding Weighted average exercise price per share Weighted average remaining contractual life (years) Aggregate intrinsic value Number exercisable Weighted average exercise price per share Weighted average remaining contractual life (years) Aggregate intrinsic value $15.93 - $19.95 42,064 $ 18.05 0.8 $ 2,501 42,064 $ 18.05 0.8 $ 2,501 $21.10 - $27.53 36,250 23.76 1.2 1,948 36,250 23.76 1.2 1,948 $35.25 - $37.35 5,625 36.88 1.2 228 5,625 36.88 1.2 228 $46.90 - $48.00 13,000 47.36 4.8 392 6,000 47.17 3.5 182 $51.82 - $59.98 291,372 55.52 3.2 6,405 217,616 55.50 3.1 4,787 $60.01 - $68.41 400,308 62.07 5.3 6,177 70,703 63.32 4.6 1,002 $72.50 - $72.50 20,000 72.50 6.7 100 - - - - 808,619 $ 55.55 4.1 $ 17,751 378,258 $ 49.35 2.9 $ 10,648 |
Note 16 - Fair Value Measurem_2
Note 16 - Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | March 31, 2021 Fair Value Measurement Using Assets (Liabilities) Level 1 Level 2 Level 3 at Fair value Derivative instrument asset, net $ - $ 2,875 $ - $ 2,875 Total assets, net $ - $ 2,875 $ - $ 2,875 December 31, 2020 Fair Value Measurement Using Assets (Liabilities) Level 1 Level 2 Level 3 at Fair value Derivative instrument asset, net $ - $ 3,647 $ - $ 3,647 Total assets, net $ - $ 3,647 $ - $ 3,647 |
Note 17 - Other Income (Tables)
Note 17 - Other Income (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Three Months Ended March 31, 2021 2020 Income earned on sale of Transferred Assets 5,395 - Gain on sale of Ting Customer Assets $ 5,395 $ - |
Note 5 - Derivative Instrumen_3
Note 5 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | May 31, 2020 | |
Interest Rate Swap [Member] | |||
Derivative, Notional Amount | $ 70 | $ 70 | $ 70 |
Forward Contracts [Member] | |||
Derivative, Notional Amount | 20.7 | 31.8 | |
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | |||
Derivative, Notional Amount | $ 17.5 | $ 26.8 | |
Forward Contracts [Member] | Minimum [Member] | |||
Derivative, Term of Contract (Month) | 1 month | ||
Forward Contracts [Member] | Maximum [Member] | |||
Derivative, Term of Contract (Month) | 18 months |
Note 5 - Derivative Instrumen_4
Note 5 - Derivative Instruments and Hedging Activities - Foreign Currency Forward Contracts (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Foreign Exchange Forward 1 [Member] | |
Notional amount of U.S. dollars | $ 9,878 |
Weighted average exchange rate of U.S. dollars | 1.4283 |
Foreign currency forward contracts, asset | $ 1,352 |
Foreign Exchange Forward 2 [Member] | |
Notional amount of U.S. dollars | $ 10,781 |
Weighted average exchange rate of U.S. dollars | 1.4362 |
Foreign currency forward contracts, asset | $ 1,541 |
Foreign Exchange Forward 3 [Member] | |
Notional amount of U.S. dollars | $ 20,659 |
Weighted average exchange rate of U.S. dollars | 1.4324 |
Foreign currency forward contracts, asset | $ 2,893 |
Note 5 - Derivative Instrumen_5
Note 5 - Derivative Instruments and Hedging Activities - Fair Value of Derivative Instruments in the Consolidated Balance Sheets (Details) - Derivative Instruments [Member] - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Foreign currency forward contracts, asset | $ 2,875 | $ 3,647 |
Foreign currency forward contracts, liability | (18) | (213) |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||
Foreign currency forward contracts, asset | 2,454 | 3,254 |
Not Designated as Hedging Instrument [Member] | ||
Foreign currency forward contracts, asset | $ 439 | $ 606 |
Note 5 - Derivative Instrumen_6
Note 5 - Derivative Instruments and Hedging Activities - Movement in AOCI Balance (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
AOCI balance, Gains and losses on cash flow hedges | $ 3,038 | |
AOCI balance, Tax impact | (702) | |
AOCI balance | 2,336 | |
Other comprehensive income (loss) before reclassifications, Gains and losses on cash flow hedges | 480 | |
Other comprehensive income (loss) before reclassifications, Tax impact | (112) | |
Other comprehensive income (loss) before reclassifications | 368 | $ (1,234) |
Amount reclassified from AOCI, Gains and losses on cash flow hedges | (1,086) | |
Amount reclassified from AOCI, Tax impact | 252 | |
Amount reclassified from AOCI | (834) | $ 43 |
Other comprehensive income (loss), Gains and losses on cash flow hedges | (606) | |
Other comprehensive income (loss), Tax impact | 140 | |
Other comprehensive income (loss) for the three months ended March 31, 2021 | (466) | |
AOCI balance, Gains and losses on cash flow hedges | 2,432 | |
AOCI balance, Tax impact | (562) | |
AOCI balance | $ 1,870 |
Note 5 - Derivative Instrumen_7
Note 5 - Derivative Instruments and Hedging Activities - Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Foreign Exchange Forward [Member] | ||
Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative | $ (615) | $ (1,191) |
Interest Rate Swap [Member] | ||
Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative | 149 | |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | Operating Expense [Member] | ||
Amount of Gain or Reclassified from AOCI into Income | 949 | (45) |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | Cost of Sales [Member] | ||
Amount of Gain or Reclassified from AOCI into Income | 156 | $ (13) |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Interest Expense, Net [Member] | ||
Amount of Gain or Reclassified from AOCI into Income | $ (19) |
Note 5 - Derivative Instrumen_8
Note 5 - Derivative Instruments and Hedging Activities - Fair Value Adjustments of Forward Currency Forward Contracts Not Designated as Hedges (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Gain (loss) on settlement | $ 253 | $ (441) |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | ||
Gain (loss) on settlement | (93) | |
Gain (loss) on change in fair value | $ (348) | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Maximum [Member] | ||
Gain (loss) on settlement | 420 | |
Gain (loss) on change in fair value | $ (167) |
Note 6 - Goodwill and Other I_3
Note 6 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Goodwill, Ending Balance | $ 116,304 | $ 116,304 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | |
Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 2 years | ||
Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | ||
Fiber Internet Services [Member] | |||
Goodwill, Ending Balance | $ 8,600 | ||
Goodwill Percentage Related to Operating Segments | 7.00% | ||
Mobile Services [Member] | |||
Goodwill, Ending Balance | $ 0 | ||
Goodwill Percentage Related to Operating Segments | 0.00% | ||
Domain Services Operating Segment [Member] | |||
Goodwill, Ending Balance | $ 107,700 | ||
Goodwill Percentage Related to Operating Segments | 93.00% |
Note 6 - Goodwill and Other I_4
Note 6 - Goodwill and Other Intangible Assets - Acquired Intangible Assets by Major Class (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Balances | $ 47,444 | |
Acquisition | 154 | |
Additions to/(disposals from) domain portfolio, net | (1) | $ (13) |
Amortization expense | (2,619) | $ (3,301) |
Balances | 44,978 | |
Brand [Member] | ||
Balances | 7,021 | |
Amortization expense | (518) | |
Balances | 6,503 | |
Customer Relationships [Member] | ||
Balances | 26,664 | |
Acquisition | 154 | |
Amortization expense | (1,802) | |
Balances | 25,016 | |
Technology-Based Intangible Assets [Member] | ||
Balances | 274 | |
Amortization expense | (274) | |
Balances | 0 | |
Network Rights [Member] | ||
Balances | 1,193 | |
Amortization expense | (25) | |
Balances | 1,168 | |
Surname Domain Names [Member] | ||
Balances | 11,157 | |
Additions to/(disposals from) domain portfolio, net | (1) | |
Balances | 11,156 | |
Direct Navigation Domain Names [Member] | ||
Balances | 1,135 | |
Additions to/(disposals from) domain portfolio, net | 0 | |
Balances | $ 1,135 |
Note 6 - Goodwill and Other I_5
Note 6 - Goodwill and Other Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Remainder of 2021 | $ 7,025 | |
2022 | 9,364 | |
2023 | 8,674 | |
2024 | 3,226 | |
2025 | 2,587 | |
Thereafter | 1,811 | |
Total | $ 32,687 | $ 35,152 |
Note 7 - Loan Payable (Details
Note 7 - Loan Payable (Details Textual) $ in Millions | Jan. 20, 2017 | Mar. 31, 2021 | Jun. 14, 2019USD ($) |
Royal Bank, Bank of Montreal, Bank of Nova Scotia, HSBC and CIBC [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 240 | ||
Maximum Total Funded Debt to EBITDA Ratio | 3.50 | ||
Minimum Fixed Charge Coverage Ratio | 3 | ||
Percentage of Forecasted Capital Expenditures, Threshold for Annual Capital Expenditures | 110.00% | ||
Total Funded Debt to EBITDA Ratio | 2 | ||
Royal Bank, Bank of Montreal, Bank of Nova Scotia, HSBC and CIBC [Member] | Guaranteed Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 180 | ||
Royal Bank, Bank of Montreal, Bank of Nova Scotia, HSBC and CIBC [Member] | Accordion Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 60 | ||
Bank of Montreal and Royal Bank of Canada [Member] | |||
Debt Instrument, Term (Year) | 4 years |
Note 7 - Loan Payable - Schedul
Note 7 - Loan Payable - Schedule of Standby Fees Based on Total Funded Debt to EBITDA Ratio (Details) | 3 Months Ended |
Mar. 31, 2021 | |
Debt to EBITDA is Less Than 1 [Member] | |
Standby fees | 0.30% |
Debt to EBITDA is Greater Than or Equal to 1 and Less Than 2 [Member] | |
Standby fees | 0.37% |
Debt to EBITDA is Greater Than or Equal to 2 and Less Than 2.50 [Member] | |
Standby fees | 0.47% |
Debt to EBITDA is Greater Than or Equal to 2.50 [Member] | |
Standby fees | 0.57% |
Bank of Montreal and Royal Bank of Canada [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt to EBITDA is Less Than 1 [Member] | |
Basis Spread on Variable Rate | 1.50% |
Bank of Montreal and Royal Bank of Canada [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt to EBITDA is Greater Than or Equal to 1 and Less Than 2 [Member] | |
Basis Spread on Variable Rate | 1.85% |
Bank of Montreal and Royal Bank of Canada [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt to EBITDA is Greater Than or Equal to 2 and Less Than 2.50 [Member] | |
Basis Spread on Variable Rate | 2.35% |
Bank of Montreal and Royal Bank of Canada [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt to EBITDA is Greater Than or Equal to 2.50 [Member] | |
Basis Spread on Variable Rate | 2.85% |
Bank of Montreal and Royal Bank of Canada [Member] | Base Rate [Member] | Debt to EBITDA is Less Than 1 [Member] | |
Basis Spread on Variable Rate | 0.25% |
Bank of Montreal and Royal Bank of Canada [Member] | Base Rate [Member] | Debt to EBITDA is Greater Than or Equal to 1 and Less Than 2 [Member] | |
Basis Spread on Variable Rate | 0.60% |
Bank of Montreal and Royal Bank of Canada [Member] | Base Rate [Member] | Debt to EBITDA is Greater Than or Equal to 2 and Less Than 2.50 [Member] | |
Basis Spread on Variable Rate | 1.10% |
Bank of Montreal and Royal Bank of Canada [Member] | Base Rate [Member] | Debt to EBITDA is Greater Than or Equal to 2.50 [Member] | |
Basis Spread on Variable Rate | 1.60% |
Note 7 - Loan Payable - Sched_2
Note 7 - Loan Payable - Schedule of Loans Payable (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Loans payable | $ 121,802 | $ 121,733 |
Less: unamortized debt discount and issuance costs | (598) | (667) |
Less: loan payable, current portion | 0 | 0 |
Loan payable, long-term portion | 121,802 | 121,733 |
Revolver Facility [Member] | ||
Loans payable | $ 122,400 | $ 122,400 |
Note 7 - Loan Payable - Princip
Note 7 - Loan Payable - Principal Repayments (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Remainder of 2021 | $ 0 |
2022 | 0 |
2023 | 122,400 |
Long-term Debt | $ 122,400 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Income Tax Expense (Benefit), Total | $ 1,083 | $ 1,101 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total | 3,200 | 3,900 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | $ 0 | |
Accounting Standards Update 2016-09 [Member] | |||
Income Tax Expense (Benefit), Total | $ 200 | $ 200 |
Note 9 - Basic and Diluted Ea_3
Note 9 - Basic and Diluted Earnings Per Common Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 4,004 | 138,506 |
Note 9 - Basic and Diluted Ea_4
Note 9 - Basic and Diluted Earnings Per Common Share - Summary of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net income for the period | $ 2,149 | $ 2,834 |
Shares used in computing basic earnings per common share (note 9) (in shares) | 10,617,807 | 10,612,230 |
Effect of outstanding stock options (in shares) | 178,955 | 101,448 |
Shares used in computing diluted earnings per common share (note 9) (in shares) | 10,796,762 | 10,713,678 |
Basic earnings per common share (note 9) (in dollars per share) | $ 0.20 | $ 0.27 |
Diluted earnings per common share (note 9) (in dollars per share) | $ 0.20 | $ 0.26 |
Note 10 - Revenue 1 (Details Te
Note 10 - Revenue 1 (Details Textual) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||
Number of Customers | 0 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||
Number of Customers | 1 | |
Concentration Risk, Percentage | 49.00% | |
Minimum [Member] | ||
Domain Services, Purchased Term (Year) | 1 year | |
Finite-Lived Intangible Asset, Useful Life (Year) | 2 years | |
Minimum [Member] | Active Domain Name Contracts [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 1 year | |
Maximum [Member] | ||
Domain Services, Purchased Term (Year) | 10 years | |
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | |
Maximum [Member] | Active Domain Name Contracts [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years |
Note 10 - Revenue 2 (Details Te
Note 10 - Revenue 2 (Details Textual) - Active Domain Name Contracts [Member] - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 | Mar. 31, 2021 |
Revenue, Remaining Performance Obligation, Percentage | 80.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month) | 12 months |
Note 10 - Revenue - Disaggregat
Note 10 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net Revenues | $ 70,875 | $ 83,985 |
Network Access Services [Member] | Mobile Services [Member] | ||
Net Revenues | 4,279 | 20,148 |
Network Access Services [Member] | Fiber Internet Services [Member] | ||
Net Revenues | 5,371 | 4,308 |
Network Access Services [Member] | Retail Mobile Services [Member] | Mobile Services [Member] | ||
Net Revenues | 2,014 | 20,148 |
Network Access Services [Member] | Mobile Platform Services [Member] | Mobile Services [Member] | ||
Net Revenues | 349 | 0 |
Network Access Services [Member] | Other Services [Member] | Mobile Services [Member] | ||
Net Revenues | 1,916 | 0 |
Domain Name Services [Member] | ||
Net Revenues | 61,225 | 59,529 |
Domain Name Services [Member] | Wholesale [Member] | ||
Net Revenues | 52,071 | 50,270 |
Domain Name Services [Member] | Retail Services [Member] | ||
Net Revenues | 9,154 | 9,259 |
Domain Name Services [Member] | Domain Services [Member] | Wholesale [Member] | ||
Net Revenues | 46,991 | 45,964 |
Domain Name Services [Member] | Value Added Services [Member] | Wholesale [Member] | ||
Net Revenues | $ 5,080 | $ 4,306 |
Note 10 - Revenue - Cost of Rev
Note 10 - Revenue - Cost of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Network, other costs | $ 3,238 | $ 2,416 |
Impairment of property and equipment | 60 | 0 |
Cost of revenue | 53,422 | 58,835 |
Network Expenses [Member] | ||
Network, other costs | 3,238 | 2,416 |
Network, depreciation and amortization costs | 3,937 | 3,231 |
Impairment of property and equipment | 60 | 0 |
Cost of revenue | 7,235 | 5,647 |
Network Access Services [Member] | Mobile Services [Member] | ||
Cost of revenue | 2,779 | 9,857 |
Network Access Services [Member] | Fiber Internet Services [Member] | ||
Cost of revenue | 2,635 | 1,716 |
Network Access Services [Member] | Retail Mobile Services [Member] | Mobile Services [Member] | ||
Cost of revenue | 1,055 | 9,857 |
Network Access Services [Member] | Mobile Platform Services [Member] | Mobile Services [Member] | ||
Cost of revenue | 58 | 0 |
Network Access Services [Member] | Other Services [Member] | Mobile Services [Member] | ||
Cost of revenue | 1,666 | 0 |
Domain Name Services [Member] | ||
Cost of revenue | 40,773 | 41,615 |
Domain Name Services [Member] | Wholesale [Member] | ||
Cost of revenue | 36,372 | 37,226 |
Domain Name Services [Member] | Retail Services [Member] | ||
Cost of revenue | 4,401 | 4,389 |
Domain Name Services [Member] | Domain Services [Member] | Wholesale [Member] | ||
Cost of revenue | 35,773 | 36,469 |
Domain Name Services [Member] | Value Added Services [Member] | Wholesale [Member] | ||
Cost of revenue | $ 599 | $ 757 |
Note 10 - Revenue - Contract Ba
Note 10 - Revenue - Contract Balances (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Balance, beginning of period | $ 152,245 |
Deferred revenue | 66,981 |
Recognized revenue | (61,632) |
Balance, end of period | $ 157,594 |
Note 11 - Costs to Obtain and_3
Note 11 - Costs to Obtain and Fulfill a Contract (Details Textual) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Deferred Costs of Acquisition [Member] | |
Increase (Decrease) in Capitalized Costs | $ 52,100 |
Capitalized Contract Cost, Amortization | $ 48,000 |
Deferred Costs of Acquisition [Member] | Minimum [Member] | |
Capitalized Contract Cost, Amortization Period (Year) | 1 year |
Deferred Costs of Acquisition [Member] | Maximum [Member] | |
Capitalized Contract Cost, Amortization Period (Year) | 10 years |
Domain Registration Costs [Member] | |
Capitalized Contract Cost, Impairment Loss | $ 0 |
Note 11 - Costs to Obtain and_4
Note 11 - Costs to Obtain and Fulfill a Contract - Capitalized Contract Costs Activity (Details) - Domain Registration Costs [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Balance | $ 111,066 |
Deferral of costs | 52,063 |
Recognized costs | (47,952) |
Balance | $ 115,177 |
Note 12 - Leases (Details Textu
Note 12 - Leases (Details Textual) | 3 Months Ended |
Mar. 31, 2021 | |
Lessee, Operating Lease, Renewal Term (Year) | 5 years |
Lessee, Operating Lease, Option to Terminate Term (Year) | 1 year |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 20 years |
Note 12 - Leases - Components o
Note 12 - Leases - Components of Lease Expense and Other Lease Information (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Operating Lease Cost (leases with a total term greater than 12 months) | $ 534 | $ 547 | |
Short-term Lease Cost (leases with a total term of 12 months or less) | 50 | 244 | |
Variable Lease Cost | 176 | 128 | |
Total Lease Cost | 760 | 919 | |
Operating Lease - Operating Cash Flows (Fixed Payments) | 551 | 559 | |
Operating Lease - Operating Cash Flows (Liability Reduction) | 472 | 438 | |
New ROU Assets - Operating Leases | $ 1,394 | $ 875 | |
Weighted Average Discount Rate | 3.38% | 4.03% |
Note 12 - Leases - Future Minim
Note 12 - Leases - Future Minimum Lease Payments (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Remaining of 2021 | $ 1,724 |
2022 | 2,349 |
2023 | 2,287 |
2024 | 1,623 |
2025 | 1,078 |
Thereafter | 4,130 |
Total future lease payments | 13,191 |
Less imputed interest | 1,541 |
Total | $ 11,650 |
Note 13 - Segment Reporting (De
Note 13 - Segment Reporting (Details Textual) | 3 Months Ended |
Mar. 31, 2021 | |
Number of Operating Segments | 3 |
Note 13 - Segment Reporting - I
Note 13 - Segment Reporting - Information by Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net Revenues | $ 70,875 | $ 83,985 |
Direct cost of revenues | 46,187 | 53,188 |
Segment Gross Margin | 24,688 | 30,797 |
Adjusted EBITDA | 12,724 | 12,681 |
Depreciation of property and equipment | 3,759 | 2,990 |
Impairment of property and equipment | 60 | 0 |
Amortization of intangible assets | 2,619 | 3,301 |
Interest expense, net | 936 | 1,150 |
Accretion of contingent consideration | 96 | 87 |
Share-based Payment Arrangement, Expense | 1,022 | 801 |
Unrealized loss (gain) on change in fair value of forward contracts | 166 | 348 |
Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities | 67 | (42) |
Acquisition and other costs1 | 767 | 111 |
Income before provision for income taxes | 3,232 | 3,935 |
Corporate, Non-Segment [Member] | ||
Net Revenues | 0 | 0 |
Direct cost of revenues | 0 | 0 |
Segment Gross Margin | 0 | 0 |
Adjusted EBITDA | (2,981) | (2,793) |
Fiber Internet Services [Member] | Operating Segments [Member] | ||
Net Revenues | 5,371 | 4,308 |
Direct cost of revenues | 2,635 | 1,716 |
Segment Gross Margin | 2,736 | 2,592 |
Adjusted EBITDA | (2,593) | (1,062) |
Mobile Services [Member] | Operating Segments [Member] | ||
Net Revenues | 4,279 | 20,148 |
Direct cost of revenues | 2,778 | 9,857 |
Segment Gross Margin | 1,501 | 10,291 |
Adjusted EBITDA | 4,478 | 4,989 |
Domain Name Services [Member] | ||
Net Revenues | 61,225 | 59,529 |
Domain Name Services [Member] | Operating Segments [Member] | ||
Net Revenues | 61,225 | 59,529 |
Direct cost of revenues | 40,774 | 41,615 |
Segment Gross Margin | 20,451 | 17,914 |
Adjusted EBITDA | $ 13,820 | $ 11,547 |
Note 13 - Segment Reporting - S
Note 13 - Segment Reporting - Summary of Property and Equipment by Geographic Region (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Property and equipment | $ 129,846 | $ 117,530 |
CANADA | ||
Property and equipment | 2,435 | 2,521 |
UNITED STATES | ||
Property and equipment | 127,371 | 114,968 |
Europe [Member] | ||
Property and equipment | $ 40 | $ 41 |
Note 13 - Segment Reporting -_2
Note 13 - Segment Reporting - Summary of Amortizable Intangible Assets by Geographic Region (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Amortizable intangible assets | $ 32,687 | $ 35,152 |
CANADA | ||
Amortizable intangible assets | 2,135 | 2,385 |
UNITED STATES | ||
Amortizable intangible assets | $ 30,552 | $ 32,767 |
Note 13 - Segment Reporting -_3
Note 13 - Segment Reporting - Summary of Deferred Tax Asset, Net of Valuation Allowance (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets, net | $ 188 | $ 226 |
GERMANY | ||
Deferred tax assets, net | $ 188 | $ 226 |
Note 13 - Segment Reporting -_4
Note 13 - Segment Reporting - Summary of Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Balance at beginning of period | $ 222 | $ 131 |
Charged to costs and expenses | 0 | 91 |
Write-offs during period | 16 | 0 |
Balance at end of period | $ 206 | $ 222 |
Note 14 - Stockholders' Equit_2
Note 14 - Stockholders' Equity (Details Textual) - USD ($) $ in Millions | 3 Months Ended | ||||||
Mar. 31, 2021 | Mar. 31, 2020 | Feb. 09, 2021 | Feb. 13, 2020 | Feb. 12, 2020 | Feb. 14, 2019 | Feb. 13, 2019 | |
Stock Buyback Program 2021 [Member] | |||||||
Stock Repurchase Program, Authorized Amount | $ 40 | ||||||
Stock Repurchased and Retired During Period, Shares (in shares) | 0 | ||||||
Stock Buyback Program 2020 [Member] | |||||||
Stock Repurchase Program, Authorized Amount | $ 3.1 | $ 40 | $ 40 | ||||
Stock Repurchased and Retired During Period, Shares (in shares) | 0 | 66,738 | |||||
Stock Buyback Program 2019 [Member] | |||||||
Stock Repurchase Program, Authorized Amount | $ 40 | $ 40 | |||||
Stock Repurchased and Retired During Period, Shares (in shares) | 0 |
Note 14 - Stockholders' Equit_3
Note 14 - Stockholders' Equity - Stockholders' Equity Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Balances | $ 104,698 | |
Exercise of stock options (in shares) | 28,337 | 25,013 |
Exercise of stock options | $ 229 | |
Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration | (218) | |
Stock-based compensation | 1,022 | |
Net income | 2,149 | $ 2,834 |
Other comprehensive income (loss) | (466) | $ (1,191) |
Balances | $ 107,414 | |
Common Stock [Member] | ||
Balances (in shares) | 10,612,414 | |
Balances | $ 20,798 | |
Exercise of stock options (in shares) | 28,337 | |
Exercise of stock options | $ 713 | |
Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration (in shares) | (16,336) | |
Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration | $ 0 | |
Stock-based compensation | 0 | |
Other comprehensive income (loss) | $ 0 | |
Balances (in shares) | 10,624,415 | |
Balances | $ 21,511 | |
Additional Paid-in Capital [Member] | ||
Balances | 1,458 | |
Exercise of stock options | (484) | |
Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration | (218) | |
Stock-based compensation | 1,022 | |
Other comprehensive income (loss) | 0 | |
Balances | 1,778 | |
Retained Earnings [Member] | ||
Balances | 80,106 | |
Exercise of stock options | 0 | |
Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration | 0 | |
Stock-based compensation | 0 | |
Net income | 2,149 | |
Other comprehensive income (loss) | 0 | |
Balances | 82,255 | |
AOCI Attributable to Parent [Member] | ||
Balances | 2,336 | |
Exercise of stock options | 0 | |
Shares deducted from exercise of stock options for payment of withholding taxes and exercise consideration | 0 | |
Stock-based compensation | 0 | |
Other comprehensive income (loss) | (466) | |
Balances | $ 1,870 |
Note 15 - Share-based Payment_2
Note 15 - Share-based Payments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 6,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 2 months 12 days | |
Share-based Payment Arrangement, Expense | $ 1,022 | $ 801 |
Share-based Payment Arrangement, Amount Capitalized | $ 0 |
Note 15 - Share-based Payment_3
Note 15 - Share-based Payments - Stock Option Transactions (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Outstanding, Number of shares (in shares) | 845,020 | 754,497 |
Outstanding, Weighted average exercise price per share (in dollars per share) | $ 55.31 | $ 49.94 |
Granted, Number of shares (in shares) | 0 | 5,500 |
Granted, Weighted average exercise price per share (in dollars per share) | $ 0 | $ 47.35 |
Exercised, Number of shares (in shares) | (28,337) | (25,013) |
Exercised, Weighted average exercise price per share (in dollars per share) | $ 47.03 | $ 20.59 |
Forfeited, Number of shares (in shares) | (8,064) | (3,489) |
Forfeited, Weighted average exercise price per share (in dollars per share) | $ 60.72 | $ 61.73 |
Expired, Number of shares (in shares) | 0 | (1,458) |
Expired, Weighted average exercise price per share (in dollars per share) | $ 0 | $ 60.91 |
Outstanding, Number of shares (in shares) | 808,619 | 730,037 |
Outstanding, Weighted average exercise price per share (in dollars per share) | $ 55.55 | $ 50.85 |
Options exercisable, Number of shares (in shares) | 378,258 | 349,845 |
Options exercisable, Weighted average exercise price per share (in dollars per share) | $ 49.35 | $ 41.65 |
Note 15 - Share-based Payment_4
Note 15 - Share-based Payments - Summary of Exercise Prices, Weighted Average Remaining Contractual Life and Intrinsic Values of Outstanding Options (Details) $ / shares in Units, $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($)$ / sharesshares | |
Number outstanding (in shares) | shares | 808,619 |
Weighted average exercise price per share, options outstanding (in dollars per share) | $ 55.55 |
Weighted average remaining contractual life, options outstanding (Year) | 4 years 1 month 6 days |
Aggregate intrinsic value, options outstanding | $ | $ 17,751 |
Number exercisable (in shares) | shares | 378,258 |
Weighted average exercise price per share, options exercisable (in dollars per share) | $ 49.35 |
Weighted average remaining contractual life, options exercisable (Year) | 2 years 10 months 24 days |
Aggregate intrinsic value, options exercisable | $ | $ 10,648 |
Exercise Price Range 01 [Member] | |
Exercise price - lower limit (in dollars per share) | $ 15.93 |
Exercise price - upper limit (in dollars per share) | $ 19.95 |
Number outstanding (in shares) | shares | 42,064 |
Weighted average exercise price per share, options outstanding (in dollars per share) | $ 18.05 |
Weighted average remaining contractual life, options outstanding (Year) | 9 months 18 days |
Aggregate intrinsic value, options outstanding | $ | $ 2,501 |
Number exercisable (in shares) | shares | 42,064 |
Weighted average exercise price per share, options exercisable (in dollars per share) | $ 18.05 |
Weighted average remaining contractual life, options exercisable (Year) | 9 months 18 days |
Aggregate intrinsic value, options exercisable | $ | $ 2,501 |
Exercise Price Range 02 [Member] | |
Exercise price - lower limit (in dollars per share) | $ 21.10 |
Exercise price - upper limit (in dollars per share) | $ 27.53 |
Number outstanding (in shares) | shares | 36,250 |
Weighted average exercise price per share, options outstanding (in dollars per share) | $ 23.76 |
Weighted average remaining contractual life, options outstanding (Year) | 1 year 2 months 12 days |
Aggregate intrinsic value, options outstanding | $ | $ 1,948 |
Number exercisable (in shares) | shares | 36,250 |
Weighted average exercise price per share, options exercisable (in dollars per share) | $ 23.76 |
Weighted average remaining contractual life, options exercisable (Year) | 1 year 2 months 12 days |
Aggregate intrinsic value, options exercisable | $ | $ 1,948 |
Exercise Price Range 03 [Member] | |
Exercise price - lower limit (in dollars per share) | $ 32.25 |
Exercise price - upper limit (in dollars per share) | $ 37.35 |
Number outstanding (in shares) | shares | 5,625 |
Weighted average exercise price per share, options outstanding (in dollars per share) | $ 36.88 |
Weighted average remaining contractual life, options outstanding (Year) | 1 year 2 months 12 days |
Aggregate intrinsic value, options outstanding | $ | $ 228 |
Number exercisable (in shares) | shares | 5,625 |
Weighted average exercise price per share, options exercisable (in dollars per share) | $ 36.88 |
Weighted average remaining contractual life, options exercisable (Year) | 1 year 2 months 12 days |
Aggregate intrinsic value, options exercisable | $ | $ 228 |
Exercise Price Range 04 [Member] | |
Exercise price - lower limit (in dollars per share) | $ 46.90 |
Exercise price - upper limit (in dollars per share) | $ 48 |
Number outstanding (in shares) | shares | 13,000 |
Weighted average exercise price per share, options outstanding (in dollars per share) | $ 47.36 |
Weighted average remaining contractual life, options outstanding (Year) | 4 years 9 months 18 days |
Aggregate intrinsic value, options outstanding | $ | $ 392 |
Number exercisable (in shares) | shares | 6,000 |
Weighted average exercise price per share, options exercisable (in dollars per share) | $ 47.17 |
Weighted average remaining contractual life, options exercisable (Year) | 3 years 6 months |
Aggregate intrinsic value, options exercisable | $ | $ 182 |
Exercise Price Range 05 [Member] | |
Exercise price - lower limit (in dollars per share) | $ 51.82 |
Exercise price - upper limit (in dollars per share) | $ 59.98 |
Number outstanding (in shares) | shares | 291,372 |
Weighted average exercise price per share, options outstanding (in dollars per share) | $ 55.52 |
Weighted average remaining contractual life, options outstanding (Year) | 3 years 2 months 12 days |
Aggregate intrinsic value, options outstanding | $ | $ 6,405 |
Number exercisable (in shares) | shares | 217,616 |
Weighted average exercise price per share, options exercisable (in dollars per share) | $ 55.50 |
Weighted average remaining contractual life, options exercisable (Year) | 3 years 1 month 6 days |
Aggregate intrinsic value, options exercisable | $ | $ 4,787 |
Exercise Price Range 06 [Member] | |
Exercise price - lower limit (in dollars per share) | $ 60.01 |
Exercise price - upper limit (in dollars per share) | $ 68.41 |
Number outstanding (in shares) | shares | 400,308 |
Weighted average exercise price per share, options outstanding (in dollars per share) | $ 62.07 |
Weighted average remaining contractual life, options outstanding (Year) | 5 years 3 months 18 days |
Aggregate intrinsic value, options outstanding | $ | $ 6,177 |
Number exercisable (in shares) | shares | 70,703 |
Weighted average exercise price per share, options exercisable (in dollars per share) | $ 63.32 |
Weighted average remaining contractual life, options exercisable (Year) | 4 years 7 months 6 days |
Aggregate intrinsic value, options exercisable | $ | $ 1,002 |
Exercise Price Range 07 [Member] | |
Exercise price - lower limit (in dollars per share) | $ 72.50 |
Exercise price - upper limit (in dollars per share) | $ 72.50 |
Number outstanding (in shares) | shares | 20,000 |
Weighted average exercise price per share, options outstanding (in dollars per share) | $ 72.50 |
Weighted average remaining contractual life, options outstanding (Year) | 6 years 8 months 12 days |
Aggregate intrinsic value, options outstanding | $ | $ 100 |
Number exercisable (in shares) | shares | 0 |
Weighted average exercise price per share, options exercisable (in dollars per share) | $ 0 |
Aggregate intrinsic value, options exercisable | $ | $ 0 |
Note 16 - Fair Value Measurem_3
Note 16 - Fair Value Measurement - Summary of the Fair Values of the Company's Derivative Instrument Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Derivative instrument asset, net | $ 2,893 | $ 3,860 |
Fair Value, Recurring [Member] | ||
Derivative instrument asset, net | 2,875 | 3,647 |
Total assets, net | 2,875 | 3,647 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative instrument asset, net | 0 | 0 |
Total assets, net | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative instrument asset, net | 2,875 | 3,647 |
Total assets, net | 2,875 | 3,647 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative instrument asset, net | 0 | 0 |
Total assets, net | $ 0 | $ 0 |
Note 17 - Other Income (Details
Note 17 - Other Income (Details Textual) - Purchase Agreement With DISH Wireless LLC [Member] - USD ($) $ in Thousands | Aug. 01, 2020 | Mar. 31, 2021 | Mar. 31, 2020 |
Purchase Agreement, Duration of Monthly Fees (Year) | 10 years | ||
Purchase Agreement, Income | $ 5,395 | $ 0 |
Note 17 - Other Income (Expense
Note 17 - Other Income (Expenses) - Other Income (Expenses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Gain on sale of Ting Customer Assets | $ 5,395 | $ 0 |
Purchase Agreement With DISH Wireless LLC [Member] | ||
Income earned on sale of Transferred Assets | 5,395 | 0 |
Gain on sale of Ting Customer Assets | $ 5,395 | $ 0 |