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Growth slows at CentralNic

Growth slows at CentralNic

Organic growth rate slows; firm continues aggressive share buybacks.

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Domain name and online advertising rollup CentralNic (AIM: CNIC) disclosed preliminary results today for the first half of 2023.

The firm has slowed down its buyout spree, which means a strong focus will now be put on its organic growth. And that’s slowing.

Year-over-year organic growth for the trailing twelve months ending June 2023 is expected to be around 31%. That rate was 46% at the end of Q1 2023. And looking back a year ago, the firm noted a trailing 12 month-rate of 62% at the end of H1 2022.

Gross revenue for the first half of the year was $396 million, an 18% increase from the first six months of 2022. Net revenue was up 11%, and Adjusted EBITDA was up 15% year over year.

The firm has started to return capital to shareholders through its first-ever dividend paid in June, as well as aggressive share buybacks.

Learn more regarding CentralNic in this podcast with the firm’s CEO.

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