NameSilo Technologies Corp. Announces 2021 Year End Results

(via TheNewswire)

Record Revenue, Operating Earnings 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 financial year ended December 31, 2021.  The financial statements and related management’s discussion and analysis (“MD&A”) can be viewed on SEDAR atwww.sedar.com.

Financial Highlights of the Company:

The Company experienced robust financial results in fiscal 2021 as set forth below:

• Revenues of $36,426,887 for fiscal 2021 as compared to $31,050,980 in fiscal 2020, an increase of 17.3%. The increase in revenues for fiscal 2021 was due to an increase in domains under management and from an increase in the sale of ancillary services. 
• Gross profit of $6,856,759 or 18.8% of revenues an increase of 83.4% compared to $3,737,779 or 12.0% in 2020 
• Operating income of $1,407,828 in fiscal 2021 as compared to an operating loss of $1,001,702 in 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 Bookings* of $45,092,257 in fiscal 2021 as compared to $32,573,395 in fiscal 2020 an increase of 38.4%. 
• 74% of the Company’s total revenue was generated by customers who were also customers in the prior year up from 65% in 2020 
• Investment portfolio valued at $4,947,321 as of December 31, 2021 
• Principal debt outstanding was reduced from $5,793,818 to $3,900,000 

NameSilo LLC (“NameSilo”) has grown to be the 11thLargest Domain Registrar in the world (according toRegistrarOwl.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 revenues from full year 2017 revenues of approximately $10.6 million to over $36.4 million in 2021. Domains under management have grown from 1.85 million to over 4.65 million today. The Company has also invested significant resources to offer new products and services which have helped to 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 all while maintaining some of the lowest prices in the industry. NameSilo now accepts over 150 payment methods including most major credit cards, Web money payments such as Apple Pay, Venmo, Alipay and more. The Company was also one of the first companies in the industry to accept bitcoin.

NameSilo LLC CEO Kristaps Ronka states, “2021 was another year of strong growth. Our loyal and happy customer base as well as our marketing initiatives have helped lead our continued revenue growth.  In Q4 2021, we reached over $10 million in quarterly revenue for the first time in the Company’s history. NameSilo is well positioned to take advantage of our team’s hard work and further grow our company. We continue to offer our customers new and best in class products and services at the best possible prices, all while maintaining world class customer service.”

Subsequent to the year ending December 2021, NameSilo Technologies has initiated a normal course issuer bid as the company believes that the current market price of its common shares may not fully reflect the underlying value of the company’s business and future prospects. To date, 210,000 shares have been purchased under the NCIB.

NameSilo LLC will focus on adding value-added products to offer customers with a one-stop source for essential services related to their domains.  The Company believes that these new products will furtherincrease core revenues and margin growth for NameSilo, improve customer retention and improve the value proposition to the customer base.

NameSilo Technologies Corp.
Paul Andreola

President, CEO and Director
[phone]
www.brisio.com

 

NameSilo LLC
Kristaps Ronka, CEO

[e-mail]
www.namesilo.com

 

About NameSilo Technologies Corp. and NameSilo LLC

 

NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. NameSilo does not invest on behalf of any third party and it does not offer investment advice.

 

NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with approximately 4.65 million active domains under management from approximately 160 countries.

 

Disclaimer for Forward-Looking Information

 

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views 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 bookings” are measures not recognized under IFRS.Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, restructuring costs, impairment charges and other non-recurring gains or losses. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Total bookings includes the full amount of cash received from new domain bookings, renewals and other related services.  Whereas, under IFRS, the Company records revenue from domain booking and renewal fees on a straight-line basis over the life of the contract term.  However, the Company’s management believes that “total bookings” provides investors with insight into management’s decision-making process because management uses this measure to run the business and make financial, strategic and operatingdecisions.  Further, “total bookings” also provides useful insight into the Company’s operating performance on a yearly basis. “Total bookings” do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that “Adjusted EBITDA” and “total bookings” 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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