Team Internet reports growth for 2023

Team Internet reports growth for 2023

The company generated double-digit revenue growth in 2023.

Picture of a stock ticker board with words "earnings announcement" below it

Team Internet Group (AIM: TIG), formerly known as CentralNic, previewed its 2023 earnings today.

The company said gross revenue was around $835 million, gross profit was $190 million, and its adjusted EBITDA measure was $96 million.

Topline growth clocked in at 15%, gross profit grew 7% year over year, and adjusted EBITDA was up 12%. Organic growth came in at 12%.

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The Online Marketing segment, which includes domain parking and arbitrage, grossed $656 million compared to $575 million a year ago. It will be interesting to see how new European Union rules impact this business in 2024.

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The Online Presence segment, which includes domain registrars such as Moniker and Hexonet, grossed $179 million compared to $154 million in 2023.

Full results and the audited annual report will be released on March 18.

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