NameSilo Subsidiary Grows Revenues 61% in Q3 vs Q2
CSE: BZI / OTC: NTCEF
VANCOUVER, Nov. 30, 2018 /CNW/ - Brisio Innovations Inc. (CSE: BZI) (PINKSHEETS: NTCEF) (the "Company") has released its financial and operating results for the third quarter of 2018. The Company's results include its first reported revenue from NameSilo, which is one of the world's fastest growing domain name registrars.
- Brisio Q3 revenues of $3,394,721 from $nil last year. As Brisio acquired NameSilo on August 7, 2018, this represents only 55 days of revenue generated from the NameSilo operations.
- NameSilo revenue for the nine months ended September 30, 2018 grew by approximately 35.9% to $10,592,291.
- NameSilo revenue growth for 3 months ending September 2018, being CAD$4,971,972 (USD$3,861,426), compared to 3 months ended June 2018, being, CAD$3,076,878 (USD$2,389,623) was 61.6%.
- The total comprehensive loss of $2,053,722 was due to a number of one-time costs associated with the acquisition, and other non-cash costs such as share based compensation, unrealized loss on investments and transaction costs related to the loans payable, etc.
Revenues and gross margins were affected by promotional discounting, driven by rebate programs which significant rebates will be received in subsequent financial periods.
- Net domain growth in Q3 of 333,848 domains up 19.8% from Q2
- Current domain count approximately 2,275,000.
- Customer growth in Q3 of 29,650 new customers.
- Total active customers of 240,162.
- NameSilo was the second fastest growing domain registrar in July, 2018 (the latest industry statistic as set out at www.registrarowl.com).
- November has been a record month adding approximately 180,000 net new domains under management.
- NameSilo will soon launch a robust platform for additional high margin products and services.
NameSilo's growth is primarily attributable to providing intuitive domain registration and management tools, responsive and never outsourced customer service provided via email and live chat, technical expertise, best-in-class pricing, and free add-ons that other registrars routinely charge for like WHOIS privacy, ICANN fees, email forwarding, enhanced account security options, parking and more.
Paul Andreola, CEO of Brisio states: "This has been a pivotal quarter for Brisio and our newly acquired subsidiary, NameSilo LLC. We seamlessly transitioned NameSilo CEO Kristaps Ronka and his exceptional team into the daily operations of the company, all while maintaining and improving on the level of service that NameSilo clients have grown accustomed to. The significant revenue and domain-count growth we are experiencing is testimony to the dedication and proficiency that this team brings to the Company."
"Our recent quarterly results only reflect 55 days of NameSilo activity, and with the increasing trajectory of our growth, as evidenced by NameSilo being the second fastest growing domain registrar in July of 2018, we look forward to the coming quarters that will include additional revenue growth from our growing customer base and from a new suite of products and services," added Mr. Andreola.
About Brisio Innovations
Brisio Innovations Inc. 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. Brisio does not invest on behalf of any third party and it does not offer investment advice.
Headquartered in Toronto, Canada, NameSilo 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 over 2.2 million active domains under management, and over 125,000 customers 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.
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SOURCE Brisio Innovations Inc.
For further information: Brisio Innovations Inc., Paul Andreola, President, CEO and Director, (604) 644-0072, www.brisio.com