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Sales and profits dip at Team Internet
Having been one of the industry’s notable growth stories over the last decade, Team Internet saw its revenue and profit go down in 2024, according to its latest earnings report.
The company is also predicting a miserable 2025 as it tries to work around Google’s decision to turn off advertising on parked domains by default for its customers, a key source of Team Internet’s revenue.
Revenue was down 4.1% to $802.8 million, the company said, and adjusted EBITDA was down 4.7% to $91.9 million.
The domains part of its business seemed to fare better than its search unit, recording revenue up 7.4% at $202.7 million. But this division also includes some non-domains software businesses, so we can’t really break its performance out any more granularly.
Team Internet said the current analyst consensus for adjusted EBITDA this year is between $60 million and $62 million, a huge drop on 2024, with double-digit growth returning next year.
CEO Michael Riedl said in a statement: “The Search segment’s difficult reset in 2025 in response to recent market developments is the acceleration of a long-anticipated pivot, not, the board believes, a permanent setback.”
He also seemed to confirm that the company will rely on AI-generated content to populate its domains, enabling it to use Google’s contextual advertising.
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