Revenue was up, but bookings were flat.
Domain name registrar NameSilo (CSE: URL) (PINKSHEETS: URLOF) reported 2022 earnings today.
The company grew revenue by 23.5% to $45.0 million and reported a gross profit of $8.0 million.
Total bookings only nudged up 2.9% to $46 million. Because registration revenue is recognized over the term of the registration, the company will have to find new growth during this year to boost its revenue, given the mostly flat bookings growth last year.
NameSilo’s net income numbers aren’t very relevant to the domain industry because the company holds investments in 13 other companies that it sometimes marks to market. The largest of these is ImmunoPrecise Antibodies Ltd, currently valued at about $4 million.
In management discussion of the results, the company revealed that 95.0% of its revenue is from domain registrations. 3.6% is from domain marketplace services, and 1.4% is from hosting and email.