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MMX revenue down even as sales rise during pandemic
Kevin Murphy,
September 30, 2020, 15:32:31 (UTC),
Domain Registries
New gTLD registry MMX saw its revenue dip in the first half of the year, even as the number of domain names it sold increased.
The company today reported a net profit after tax of $1.2 million, down from $1.7 million a year ago, on revenue that was down 5% at $8.5 million.
But billings were up in the quarter were up 7%, with channel billings (ie, domains sold via third-party registrars) up 20%.
Billings is the measure of how much the company sold, which is largely deferred and recognized as revenue over the period of the registration.
Domains under management across the registry’s portfolio of 31 gTLDs increased 31% to 2.38 million.
The company blamed a lack of brokered premium sales for the top-line decline, saying that segment contributed $0.1 million in the half, compared to $0.8 million a year ago.
MMX said registrar partner sales were “unimpacted by COVID”, up 4% to $8.3 million, but two of its brand-protection partners had to delay the launch of its pricey AdultBlock porn domain blocks until Q4, so there was no revenue to be found in defensives in the half.
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