Record Quarterly Revenues and 271% Increase in Operating Income
VANCOUVER, BC, Aug. 30, 2024 /PRNewswire/ - NameSilo Technologies Corp. (CSE:URL) (OTC:URLOF) (the "Company"), one of the largest domain registrars in the world, is pleased to announce the financial results for the quarter ending June 30, 2024. The financial statements and related management's discussion and analysis ("MD&A") can be viewed on SEDAR+ at www.sedarplus.ca.
Financial Highlights of the Company:
The Company experienced financial results in fiscal Q2 2024 as set forth below (all figures in Canadian dollars):
7th consecutive quarter and 6th year of consecutive revenue growth
11th consecutive quarter of net operating income
Record revenues of $13,175,765 for Q2 2024 as compared to $12,008,757 in Q2 2023, an increase of 9.7%. The increase in revenues for Q2 2024 was due to an increase in domains under management, marketplace revenues, and from the sale of ancillary services.
Gross Profit of $2,883,791 or 21.9% of its revenues in Q2 2024 vs $2,103,915 or 17.5% in Q2 2023. Highest gross margin in company's history.
Operating income of $941,525 for Q2 2024 compared to $253,907 in Q2 2023.
Net income of $225,208 in Q2 2024 compared to net income of $828,011 in Q2 2023. The lower net income is primarily due to a loss on investments of $440,197.
Adjusted EBITDA* of $1,131,093 for Q2 2024 as compared to ...
