Registrations and billings up, revenue down in H1: MMX
Registrations at domain name registrars grew while one-off brokered sales dropped.
Top level domain name registry MMX (aka Minds + Machines, London AIM: MMX) issued high-level earnings information today for the first half of 2020.
Year-on-year registrations grew 31% to 2.38 million as of 30 June 2020. Total first-half billings were up 7% year-over-year to $7.9 million.
One-off brokered transactions dropped by $0.8 million to $0.1 million. The firm has been moving from these brokered deals to focusing on recurring registrations. And just in time, as evidenced by the precipitous fall in 2020 as the world reacted to the pandemic.
Since regular billings are recognized over the life of the registration but brokered transactions are recognized all at once, MMX’s recognized revenue dipped by 5% in the first half.
The firm states that bookings for its brand-protection services also slowed in the first half in response to the pandemic, but it believes these will rebound in the second half of the year.
