VANCOUVER, BRITISH COLUMBIA – TheNewswire - August 27, 2021– NameSilo Technologies Corp. (CNSX:URL.CN) (OTC:URLOF) (the “Company”), one of the fastest growing domain registrars in the world, is pleased to announce the financial results for the quarter ending June 30, 2021. The financial statements and related management’s discussion and analysis (“MD&A”) can be viewed on SEDAR at www.sedar.com.
Financial Highlights of the Company:
The Company experienced financial results in fiscal Q2 2021 as set forth below:
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- Record Revenues of $8,411,202 for Q2 2021 as compared to $7,593,173in Q2 2020, an increase of 10.8%. The increase in revenues for Q2 2021 was due to an increase in domains under management, marketplace revenues, and from the sale of new ancillary services.
- Gross Profit of $1,447,846, or 17.2% of its revenues. This is an increase of 241% from Q2 2020
- Operating profit of $154,365 for Q2 2021 compared to a loss of $568,779 in Q2 2020 an improvement of $723,144 and up $121,715 from Q1 2021
- Record Adjusted EBITDA* of $435,344 for Q2 2021 up 517% from Q2 2020 and 42% from Q1 2021
- Record Total Bookings* of $9,907,069 in Q2 2021 as compared to $7,574,306 in Q2 2020 and up 8% from Q1 2021.
- Total debt outstanding was reduced from $4,765,419 (March 31, 2021) to approximately $4,240,000. Subsequent to the quarter end the company has repaid additional debt principal and has approximately $3.85 million in outstanding debt.
NameSilo has grown to be the 11th Largest Domain Registrar in the world (according to RegistrarOwl.com) with over 4.31 million active domains under management and customers in approximately 160 countries.
Since acquiring Namesilo LLC in August 2018, the new management team has grown revenues from full year 2017 revenues of approximately $10.6 million to over $31.05 million in 2020. Domains under management have grown from 1.85 million to over 4.31 million today.
The Company has also invested significant resources to launch a number of new products and services which are expected to significantly increase future revenues and improve gross margins. Along with a new and more functional website the Company has launched hosting services, email products, a free logo maker, security products, several new domain services and more all while maintaining some of the lowest prices in the industry. NameSilo now accepts over 150 payment methods including most major credit cards, Web money payments such as Apple Pay, Venmo, Alipay and more. The Company was also one of the first companies in the industry to accept bitcoin. In 2020, the Company launched new marketing initiatives to build brand awareness and drive future revenue growth.
NameSilo LLC CEO Kristaps Ronka states, “Over the past 6 months, we have accelerated development efforts to improve our website and grow our product suite. The results speak for themselves as we have achieved the highest gross margin rate in our history thanks to our customers signing up for more of our new services through a cleaner and faster website. As always, we remain dedicated to keeping our prices low so that our users can enjoy unbeatable value. A heartfelt thank you to all of our clients and partners for keeping NameSilo your top choice for your domain and web services needs.”
NameSilo LLC will focus on adding value-added products to offer customers a one-stop source for essential services related to their domains. The Company believes that these new products will further increase core revenues and margin growth for NameSilo, improve customer retention and improve the value proposition to the customer base.