NameSilo reports record revenue and nixes acquisition

Registrar keeps growing.

Logo for NameSilo with the tagline domains.cheap, easy and secure. in blue colors

NameSilo (CNSX:URL.CN) (OTC:URLOF) has reported its earnings for the first half of the year, and announced that a proposed acquisition of NameSilo is off the table.

On the earnings front, the company had record revenues of $8.4 million in Q2 2021, compared to $7.6 million in the same quarter last year, an increase of about 11%.

Domain registrations account for the bulk of the company’s revenue. 2.2% of its revenue was from its domain marketplace and 1.8% was from hosting and email services.

Earnings are difficult to compare because the registrar is part of a holding company that owns shares in many other companies.

Separately, the company announced that a prospective sale of its registrar is not going through. In December, the company announced that it entered into a letter of intent with WGH Holding B.V. to sell the registrar. That entity was working to combine the business with a hosting and domain business in Africa. (In April 2021, the African business contacted me to say that, while it was in discussions with WGH about an acquisition, the deal was not consummated.)

“We believe that the value of Namesilo has grown significantly since the discussions with the prospective buyer began and feel that there is more value to be unlocked over the near to medium term for shareholders,” Paul Andreola, CEO of NameSilo Technologies, said in a release.

NameSilo now has over 4 million domains under management.

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