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Tucows Cuts 2019 Cash EBITDA Guidance; Inks Deal with Verizon, Extends Deal with Sprint But to End Pact with T-Mobile

6:51AM ET 7/10/2019 MT Newswires
Telecom company Tucows (TCX) said late Tuesday it is cutting its cash EBITDA guidance for 2019 to $52 million from $62 million, following its new agreement with Verizon (VZ).

The company said its Ting Mobile subsidiary will be adding service over the Verizon network to its product offerings later this year. Under the deal, Ting customers will be eligible to use the Verizon network following integration with the Verizon system, which we expect to be completed by the end of the year.

Ting Mobile also extended its network provision agreement with Sprint (S) through September 2020.

Ting Mobile said it has informed T-Mobile it will not renew its agreement effective December 19 and will migrate its customers to its other network options by that date.

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