Reglikedomain industry desk

Tucows notes slight growth in domain name business

Tucows notes slight growth in domain name business

Firm plans fresh revenue sources for its domains business.

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Tucows (NASDAQ: TCX), which operates OpenSRS, Enom, Hover, and a couple of other domain registrars, noted slight growth in its domain name business last quarter.

The firm grossed $61.1 million from its domain business in Q3, up from $60.3 million in the same quarter a year ago. The firm also reversed a trend of quarter-over-quarter declines in gross margin.

Tucows stated the business continues to be hurt by flagging revenue from expired domain sales. It will be interesting to see what impact GoDaddy raising its minimum bid to $25 has on these results; Tucows sends most of its expired domains to GoDaddy Auctions.

In pre-recorded prepared remarks, DaveWoroch, CEO of Tucows Domains, stated the firm is working on a fresh product for its resellers to help hosts transition to cloud-based services. It is also developing a billing and provisioning system.

Tucows’ overall Q3 revenue was up 11% year over year.

Shares in Tucows are up 15% in trading this morning.

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