NameSilo’s Rollercoaster Ride in Q3 2023: Unveiling the Numbers

In the ever-evolving landscape of the internet, where domain names and cybersecurity reign supreme, NameSilo Technologies Corp. has just dropped the financial bombshell for the third quarter of 2023. Buckle up; it’s been a ride.

Record-Breaking Revenues:

Let’s cut to the chase. NameSilo raked in a whopping $12.5 million in Q3 2023, marking a 7.7% increase from the same period last year. The secret sauce? More domains under management, beefed-up marketplace revenues, and a side of ancillary services. Not too shabby.

Profit Playground:

Image for figurative purpose only

From Hero to Zero – Almost:

The gross profit game is strong too, hitting $2.26 million in Q3 2023, a neat 18.2% of revenues. It’s an improvement from the 17.2% they had last year. Operating income flexed its muscles too, clocking in at $770,085 – a significant leap from $490,983 in Q3 2022.

Now, it’s not all sunshine and rainbows. Net loss raised its head, showing $103,394 in Q3 2023, a far cry from the net income of $716,496 in Q3 2022. What went wrong? A punch in the gut from a loss on investments, totaling a whopping $693,543. Ouch.

What’s EBITDA Got to Do with It?:

Adjusted EBITDA, the finance whiz’s favorite acronym, surged by 27.4% to $987,857 in Q3 2023, striding past the $775,647 mark from last year. This suggests the company’s operational core is getting healthier, despite the net loss hiccup.

Books, Not Just for Looks:

Total bookings made a grand entrance at $13.3 million in Q3 2023, showing a little leg over the $12.8 million from Q3 2022. Meanwhile, total deferred revenues sipped a cool drink, hanging out at $27.3 million as of September 30, 2023.

Investment Ventures – Risky Business?:

NameSilo wasn’t just playing with domain names. They threw some cash at Erebus Capital Corp. (aka Ola Media) and Alchemy Labs Inc., both early-stage companies. A strategic move or a roll of the dice? Only time will tell.

Domain Domination:

NameSilo LLC, the big player in the game, manages over 4.75 million active domains across 160 countries. Since 2018, they’ve been on a growth spree, turning a $10.6 million revenue from 2017 into a whopping $45.0 million in 2022. Impressive, right?

Evolution in a Nutshell:

NameSilo didn’t just sit on their laurels. They’ve diversified, offering more than just domain registration. Hosting services, email goodies, a free logo maker – they’ve thrown in everything but the kitchen sink. Accepting over 150 payment methods, including Bitcoin, shows they’re not afraid to ride the tech wave.

Future Frontier:

Looking ahead, NameSilo plans to be the one-stop shop for domain-related services, adding more value to the customer’s plate. The strategy? Introduce new products, up the core revenues, and beef up those margins. But, as we know, it’s easier said than done.

The Fine Print – Caution Advised:

Hold on to your horses; it’s not all high-fives. NameSilo throws in a disclaimer about forward-looking statements, warning investors about the rollercoaster of risks and uncertainties that come with the territory.

Not Your Standard Metrics:

And before you start doing financial acrobatics, keep in mind that “Adjusted EBITDA” and “total bookings” aren’t the standard metrics you’d find in an accounting textbook. They’re non-IFRS financial measures, a language unto themselves.

Conclusion – Fasten Your Seatbelts:

So, there you have it – NameSilo’s Q3 2023 financial report dissected without the jargon. It’s been a ride, with highs of record revenues and lows of a net loss. Will the strategic investments pay off, or is it a gamble in the world of startups? Only time will tell. For now, fasten your seatbelts, because the domain name rollercoaster just took an exhilarating twist.




    The domain business is rising rapidly, and the article is well informative about the fact that it is not just profitable, but the uncertainties attached, makes it even riskier. Also, somewhere Its the domination of NameSilo, in the domain business and their strategic investment discissions along with their gambling in startups, which has now started giving them good results along with loss hiccups.

Join the Discussion

Discover more from Domain Magazine

Subscribe now to keep reading and get access to the full archive.

Continue reading

Verified by ExactMetrics