NameSilo notes record revenue and nixes buyout

Registrar keeps growing.

NameSilo (CNSX:URL.CN) (OTC:URLOF) has noted its earnings for the first half of the year, and disclosed that a proposed buyout of NameSilo is off the table.

On the earnings front, the firm had record revenues of $8.4 million in Q2 2021, compared to $7.6 million in the same quarter last year, an increase of regarding 11%.

Domain registrations account for the bulk of the firm’s revenue. 2.2% of its revenue was from its domain marketplace and 1.8% was from hosting and email services.

Earnings are difficult to compare since the registrar is part of a holding firm that owns shares in many other firms.

Separately, the firm disclosed that a prospective sale of its registrar is not going through. In December, the firm disclosed that it entered into a letter of intent with WGH Holding B.V. to sell the registrar. That entity was working to combine the business with a hosting and domain business in Africa. (In April 2021, the African business contacted me to say that, while it was in discussions with WGH regarding an buyout, the deal was not consummated.)

“We believe that the value of Namesilo has grown significantly since the discussions with the prospective buyer began and feel that there is more value to be unlocked over the near to medium term for shareholders,” Paul Andreola, CEO of NameSilo Technologies, stated in a release.

NameSilo now has over 4 million domains under management.