Q2 was a tale of two businesses — For Escrow.com
As domains tanked, other products filled the gap.
The second quarter of 2020 was a dismal one for domain sales at Escrow.com. Volume dropped from $85.8 million in Q1 to just $55.2 million in Q2. That’s the lowest number since 2018. Covid-19 pummeled the domain aftermarket.
Which is why I was initially confused when I reviewed Escrow.com parent firm Freelancer’s numbers. It paints a much rosier picture for Escrow.com:
- Gross Payment Volume of US $101.5 million, down just slightly from Q1
- Revenue of AU $3.8 million, down just 1%
- Record Gross Payment Volume in first half (In Australian dollars)
Let’s take the second two items listed in Australian dollars out of it and look at just the Gross Payment Volume. It appears that Escrow.com has done a heck of a job diversifying from domain names, which has typically been its bread and butter.
As stated by the firm’s investor presentation, the drop in domain market activity was partially offset by automotive, IPv4 addresses and personal protective equipment.
While the last category might only be a lift for the short term, it’s encouraging that Escrow.com has been able to find fresh avenues for growth.
