NameSilo reports 2020 results

NameSilo reports 2020 results

Revenue grew by over 14% in 2020.

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NameSilo Technologies Corp. (CSE:URL), the parent company of domain name registrar NameSilo, reported its earnings for 2020 this week.

The company grossed $31.1 million for the year, up from $27.2 million in 2019. The company credits an increase in domains under management and new ancillary services for the growth. Namecheap now has over 3.9 million domains under management and over half of those are .com domains.

NameSilo says that over 65% of the revenue was generated by customers who were customers in the prior fiscal year.

The company swung from a $4.0 million loss to a $6.5 million profit from 2019 to 2020, but that change has little to do with the core registrar business; the holding company’s investments in other companies increased in value by over $9 million.

NameSilo announced last year that it was in negotiations to be acquired, and says those discussions are still ongoing.

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