NameSilo Technologies Corp. Announces Q3 2024 Results
NameSilo Technologies reported strong Q3 2024 results with record quarterly revenues of $14.35 million, up 15.2% from Q3 2023. The company achieved its highest gross margin in history at 22.4%, with gross profit of $3.21 million. Notable achievements include record operating income of $1.24 million, net income of $488,064, and record adjusted EBITDA of $1.45 million. The company surpassed 5 million domains under management, eliminated all outstanding convertible debt, and secured a $1.5 million non-dilutive draw-down loan facility. Cash and cash equivalents stood at $4.98 million, with investment holdings of $3.64 million and bitcoin holdings valued at $1.23 million.
NameSilo Technologies ha riportato risultati solidi per il terzo trimestre del 2024, con ricavi trimestrali record di 14,35 milioni di dollari, in aumento del 15,2% rispetto al terzo trimestre del 2023. L'azienda ha raggiunto il suo più alto margine lordo della storia, pari al 22,4%, con un profitto lordo di 3,21 milioni di dollari. Tra i risultati degni di nota figurano un reddito operativo record di 1,24 milioni di dollari, un reddito netto di 488.064 dollari e un EBITDA rettificato record di 1,45 milioni di dollari. L'azienda ha superato i 5 milioni di domini sotto gestione, ha eliminato tutto il debito convertibile in sospeso e ha ottenuto una linea di prestito non diluitiva di 1,5 milioni di dollari. La liquidità e le disponibilità liquide ammontavano a 4,98 milioni di dollari, con investimenti per 3,64 milioni di dollari e investimenti in bitcoin valutati 1,23 milioni di dollari.
NameSilo Technologies reportó resultados sólidos en el tercer trimestre de 2024, con ingresos trimestrales récord de 14,35 millones de dólares, un aumento del 15,2% en comparación con el tercer trimestre de 2023. La compañía logró su mayor margen bruto en la historia, alcanzando el 22,4%, con una ganancia bruta de 3,21 millones de dólares. Entre los logros notables se incluyen un ingreso operativo récord de 1,24 millones de dólares, un ingreso neto de 488,064 dólares y un EBITDA ajustado récord de 1,45 millones de dólares. La empresa superó los 5 millones de dominios bajo gestión, eliminó toda la deuda convertible pendiente y aseguró una línea de crédito no dilutiva de 1,5 millones de dólares. El efectivo y equivalentes en efectivo se situaron en 4,98 millones de dólares, con inversiones valoradas en 3,64 millones de dólares y tenencias de bitcoin valoradas en 1,23 millones de dólares.
NameSilo Technologies는 2024년 3분기에 강력한 실적을 발표했으며, 분기 매출이 1435만 달러로 2023년 3분기 대비 15.2% 증가했습니다. 회사는 역사상 가장 높은 총 이익률인 22.4%를 달성했으며, 총 이익은 321만 달러입니다. 주목할 만한 성과로는 사상 최대의 운영 수익 124만 달러, 순이익 48만 8064달러, 조정된 EBITDA 사상 최대 145만 달러가 있습니다. 회사는 관리 중인 도메인이 500만 개를 초과했으며, 모든 미결전환채무를 없애고 150만 달러의 비희석 대출 시설을 확보했습니다. 현금 및 현금성 자산은 498만 달러에 달하며, 투자 보유액은 364만 달러, 비트코인 보유액은 123만 달러에 달합니다.
NameSilo Technologies a annoncé de solides résultats pour le troisième trimestre 2024, avec un chiffre d'affaires trimestriel record de 14,35 millions de dollars, soit une augmentation de 15,2 % par rapport au troisième trimestre 2023. L'entreprise a atteint son plus haut niveau de marge brute de son histoire, à 22,4 %, avec un bénéfice brut de 3,21 millions de dollars. Parmi les réalisations notables figurent un bénéfice d'exploitation record de 1,24 million de dollars, un bénéfice net de 488 064 dollars et un EBITDA ajusté record de 1,45 million de dollars. L'entreprise a dépassé les 5 millions de domaines sous gestion, a éliminé toutes ses dettes convertibles en cours et a sécurisé un prêt non dilutif de 1,5 million de dollars. La trésorerie et les équivalents de trésorerie s'élevaient à 4,98 millions de dollars, avec des investissements de 3,64 millions de dollars et des avoirs en bitcoins évalués à 1,23 million de dollars.
NameSilo Technologies berichtete über starke Ergebnisse im 3. Quartal 2024 mit einem Rekord-Quartalsumsatz von 14,35 Millionen Dollar, was einem Anstieg von 15,2 % im Vergleich zum 3. Quartal 2023 entspricht. Das Unternehmen erreichte den höchsten Bruttogewinn in seiner Geschichte mit 22,4 %, was zu einem Bruttogewinn von 3,21 Millionen Dollar führte. Zu den bemerkenswerten Erfolgen gehören ein rekordverdächtiger Betriebsgewinn von 1,24 Millionen Dollar, ein Nettogewinn von 488.064 Dollar und ein rekordiierter bereinigter EBITDA von 1,45 Millionen Dollar. Das Unternehmen übertraf 5 Millionen verwaltete Domains, tilgte alle ausstehenden wandelbaren Schulden und sicherte sich eine nicht verwässernde Kreditlinie von 1,5 Millionen Dollar. Die liquiden Mittel betrugen 4,98 Millionen Dollar, mit Investitionen in Höhe von 3,64 Millionen Dollar und Bitcoin-Beständen im Wert von 1,23 Millionen Dollar.
- Record quarterly revenue of $14.35M, up 15.2% YoY
- Highest gross margin in company history at 22.4%
- Record operating income of $1.24M, up from $770K in Q3 2023
- Turned net loss of $103K in Q3 2023 to net income of $488K
- Strong cash position with $4.98M in cash and equivalents
- Surpassed 5 million domains under management
- Eliminated all outstanding convertible debt
- Secured $1.5M non-dilutive draw-down loan facility
- None.
CSE: URL / OTC: URLOF
Record Quarterly Revenues and Operating Income
Financial Highlights of the Company:
The Company experienced financial results in fiscal Q3 2024 as set forth below (all figures in Canadian dollars):
- 8th consecutive quarter and 6th year of consecutive revenue growth
- Record Revenues of
$14,351,076 $12,454,667 15.2% . The increase in revenues for Q3 2024 was due to an increase in domains under management, marketplace revenues, and from the sale of ancillary services. - Gross Profit of
$3,214,896 22.4% of its revenues in Q3 2024 vs$2,263,532 18.2% in Q3 2023. Highest gross margin in company's history. - Record operating income of
$1,240,660 $770,085 - Net income of
$488,064 $103,394 - Record adjusted EBITDA* of
$1,445,761 $1,038,414 - Total Bookings* of
$14,342,555 $13,313,280 - Total deferred revenues of
$29,660,503 $26,264,921,782 - Cash flow generated from operations of
$2,320,773 $1,006,499 - Cash and cash equivalents as of September 30, 2024 of
$4,981,005 - Investments holdings totalling
$3,636,452 - Value of bitcoin holdings
$1,231,960 - Entered into a
$1.5 million
Subsequent to the quarter end the company has:
- Eliminated all of its outstanding convertible debt
- Cancelled 850,500 shares
- As of the date of this news release, purchased for cancellation an additional 438,500 shares
- Surpassed 5 million domains under management
"We are very pleased with the ongoing growth of our operating business," commented Paul Andreola, CEO of NameSilo Technologies. "Q3 was another record quarter in terms of revenues and gross margin and the significant increase in free cash flow, increased cash position and the new
NameSilo LLC ("NameSilo") has grown to over 5.05 million active domains under management and customers in approximately 160 countries. Since acquiring NameSilo in August 2018 the new management team has grown revenues from full year 2017 revenues of approximately
NameSilo LLC will focus on adding value-added products to offer customers a one-stop source for essential services related to their domains. The Company believes that these new products will further increase core revenues and margin growth for NameSilo, improve customer retention and improve the value proposition to the customer base.
About NameSilo Technologies Corp. and NameSilo LLC
NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. NameSilo does not invest on behalf of any third-party and it does not offer investment advice.
NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with approximately 4.75 million active domains under management from approximately 160 countries.
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements.
*Non-IFRS Financial Measure
Readers are cautioned that "Adjusted EBITDA" and "total bookings" are measures not recognized under IFRS. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, restructuring costs, impairment charges and other non-recurring gains or losses. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Total bookings includes the full amount of cash received from new domain bookings, renewals and other related services. Whereas, under IFRS, the Company records revenue from domain booking and renewal fees on a straight-line basis over the life of the contract term. However, the Company's management believes that "total bookings" provides investors with insight into management's decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, "total bookings" also provides useful insight into the Company's operating performance on a yearly basis. "Total bookings" do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that "Adjusted EBITDA" and "total bookings" are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.
NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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SOURCE NameSilo Technologies Corp.
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