Record sales, operating profit and Ebitda*
VANCOUVER, BRITISH COLUMBIA – TheNewswire – May 4, 2022 – NameSilo Technologies Corp. (CSE:URL) (CNSX:URL.CN) (OTC:URLOF) (the “Company”), one of the fastest growing domain registrars in the world, is pleased to announce the financial results for the year ended December 31, 2021. The financial statements and related MD&A can be viewed on SEDAR at www.sedar.com.
Company Financial Highlights:
- Revenues of $36,426,887 for fiscal 2021 compared to $31,050,980 for fiscal year 2020, an increase of 17.3%. The increase in revenue for fiscal year 2021 is due to an increase in domains under management and an increase in the sale of ancillary services.
- Gross profit of $6,856,759 or 18.8% of revenues up 83.4% compared to $3,737,779 or 12.0% in 2020
- Operating profit of $1,407,828 for fiscal 2021 compared to an operating loss of $1,001,702 for fiscal 2020, an improvement of $2,409,530.
- Adjusted EBITDA* increased 855% to $2,526,960 in fiscal 2021 from $264,713 in 2020
- Total reservations* of $45,092,257 for fiscal 2021, compared to $32,573,395 for fiscal 2020, an increase of 38.4%.
- 74% of the company’s total revenue was generated by customers who were also customers the previous year, compared to 65% in 2020
- Investment portfolio valued at $4,947,321 as of December 31, 2021
- Principal debt outstanding has been reduced from $5,793,818 to $3,900,000
NameSilo LLC (“NameSilo”) became the 11and The largest domain registrar in the world (according to RegistrarOwl.com) with over 4.65 million active domains under management and customers in approximately 160 countries. Since acquiring NameSilo in August 2018, the new management team has grown revenue from approximately $10.6 million in 2017 to over $36.4 million in 2021. Domains under management are increased from 1.85 million to more than 4.65 million today. The Company has also invested significant resources to offer new products and services that have helped increase revenues and improve gross margins. The company offers hosting services, email products, a free logo maker, security products, several new domain services, and more, while maintaining some of the lowest prices in the industry. NameSilo now accepts over 150 payment methods including most major credit cards, online payments such as Apple Pay, Venmo, Alipay and more. The company was also one of the first companies in the industry to accept bitcoin.
Kristaps Ronka, CEO of NameSilo LLC, said, “2021 was another year of strong growth. Our loyal and satisfied customer base and our marketing initiatives have contributed to our continued revenue growth. In the fourth quarter of 2021, we reached over $10 million in quarterly revenue for the first time in company history. NameSilo is well positioned to benefit from the hard work of our team and further grow our business. We continue to bring our customers new, top-notch products and services at the best possible prices, while maintaining world-class customer service.
After the fiscal year ending December 2021, NameSilo Technologies initiated a normal course issuer bid as the company believes that the current market price of its common stock may not fully reflect the underlying value of the activities and future prospects of the company. To date, 210,000 shares have been purchased under the OPRA.
NameSilo LLC will focus on adding value-added products to provide customers with a single source for essential services related to their domains. The Company believes that these new products will further contribute increase base revenue and margin growth for NameSilo, improve customer retention and improve customer value proposition.
NameSilo Technologies Corp.
President, CEO and Director
Kristaps Ronka, CEO
About NameSilo Technologies Corp. and NameSilo LLC
NameSilo Technologies Corp. invests its capital in companies and opportunities that management believes are undervalued and have significant upside potential. The company invests in public and private markets and focuses on opportunities in a wide variety of industries, excluding the resource and resource services sectors. NameSilo does not invest on behalf of a third party and does not offer investment advice.
NameSilo LLC is a low-cost provider of domain name registration and management services. As an ICANN-accredited registrar, NameSilo is one of the fastest growing domain registrars in the world with approximately 4.65 million active domains under management in approximately 160 countries.
Disclaimer for forward-looking information
Certain statements contained in this press release are forward-looking statements, which reflect management’s expectations regarding the Company’s potential future investments. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. These statements are subject to risks and uncertainties that could cause actual results, performance or developments to differ materially from those contained in the statements. There can be no assurance that any of the events anticipated by the forward-looking statements will occur or, if they occur, what benefits the Company will derive therefrom. These forward-looking statements reflect management’s current beliefs and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements.
*Non-IFRS financial measure
Readers are cautioned that “Adjusted EBITDA” and “Total Reservations” are non-IFRS measures. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, stock-based compensation, restructuring costs, impairment charges and other non-recurring gains or losses. Management believes that Adjusted EBITDA is a useful measure that facilitates operating comparisons from period to period. Total reservations include the total amount of cash received from new domain reservations, renewals, and other related services. Whereas, under IFRS, the Company recognizes revenue from domain reservation and renewal fees on a straight-line basis over the term of the contract. However, the Company’s management believes that “total bookings” provides investors with insight into management’s decision-making process, as management uses this measure to manage the business and make financial, strategic and operational decisions. . the decisions. In addition, “total bookings” also provides a useful overview of the company’s operational performance on an annual basis. “Total counts” does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that “Adjusted EBITDA” and “Total Reservations” are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.
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