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NameSilo reports revenue up 33%
Kevin Murphy,
August 24, 2022, 07:12:04 (UTC),
Domain Registrars
Canadian registrar NameSilo this week reported its second-quarter financial results, showing revenue up 33.7% compared to the year-ago period.
The company said it now has 4.61 million domains under management and had revenue of $11.2 million for the quarter. It reported a net loss of $683,000.
Bookings, the best indicator of future revenue, were up 22% to $12 million. The company had $25.3 million of deferred revenue on its balance sheet at the end of the quarter.
NameSilo said “an increase in domains under management, marketplace revenues, and from the sale of ancillary services” all contributed to the growth.
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The revenue growth of the NameSilo registrar is due to the registration of domains for criminal purposes. The registrar has become a kind of “pirate bay” for scammers, drug dealers, carders and other criminals. The Abuse Department does not respond to complaints, although it should, according to ICANN’s 2013 Registrar Accreditation Agreement.