CSE: URL / OTC: URLOF
Achieves Milestone as 15th Largest Domain Registrar in the World
Strong Growth in Revenue and Customers in 2018
VANCOUVER, May 1, 2019 /CNW/ - NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: URLOF) (the "Company"), one of the fastest growing domain registrars in the world, is pleased to announce the financial results for the financial year ended December 31, 2018. The financial statements and related management's discussion and analysis ("MD&A") can be viewed on SEDAR at www.sedar.com.
"Since our acquisition of NameSilo on August 1, 2018, we have executed on our initial objective to significantly grow the customer base to over 2.78 million active domains under management. With a strong customer base behind us, we are moving forward on our next objective to integrate a one-stop shop for essential services related to our domains. To date, we have added web hosting and e-mail and look forward to rolling out additional services throughout the calendar year," said Paul Andreola, CEO of the Company.
Operation Highlights of NameSilo:
- Strong Customer Base. As of December 2018, NameSilo became the 15th Largest Domain Registrar in the world. As of the date of this news release, NameSilo has over 2.78 million active domains under management with customers in approximately 160 countries.
- Robust Customer Growth. NameSilo was the fifth fastest growing registrar in 2018 with the addition of 1,257,207 net new domains representing 105% growth for the year.
- Loyal Customer Base. NameSilo maintains a customer retention rate of approximately 87%. Customer loyalty is driven by excellent customer service, array of services and affordable and consistent pricing.
- New Value Added Services. Successfully launches Web hosting and e-mail as value-add offerings.
Financial Highlights of the Company:
The financial results of the Company include the full 2018 fiscal year end results of the public company and the results of NameSilo since August 1, 2018 (5 months), being the date the Company acquired NameSilo.
- Total assets increased to $37,703,565, as at December 31, 2018, from $4,480,599, as at December 31, 2017, due to the acquisition of NameSilo.
- Revenues of $9,868,847 for fiscal 2018 as compared to $46 in fiscal 2017. 87% of these revenues were driven by existing customers.
- Gross Margin of $1,250,754, being 12.7%, in fiscal 2018 as compared to $517 in fiscal 2017.
- Adjusted EBITDA* of $264,986 in fiscal 2018 as compared to $(234,382) in fiscal 2017.
- Net Loss of $6,953,180 in fiscal 2018 as compared to a net loss of $1,656,526 in fiscal 2017. The increase in net loss was primarily due to non-cash items as set forth in the MD&A.
- Total Bookings* of $13,017,132 in fiscal 2018.
The Company's focus in 2019 will be to offer an extensive set of easy-to-use cloud-based technology products that will enable NameSilo customers to establish a digital presence and connect with their customers. The Company believes that these new products will further increase core revenues and margin growth for NameSilo, improve customer retention and improve the value proposition to the customer base.
About NameSilo Technologies Corp. and NameSilo LLC
NameSilo Technologies Corp. 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.
NameSilo LLC 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 approximately 2.78 million active domains under management, and over 270,000 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.
*Non-IFRS Financial Measure
Readers are cautioned that "Adjusted EBITDA" and "total bookings" are measures not recognized under IFRS. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, restructuring costs, impairment charges and other non-recurring gains or losses. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Total bookings includes the full amount of cash received from new domain bookings, renewals and other related services. Whereas, under IFRS, the Company records revenue from domain booking and renewal fees on a straight-line basis over the life of the contract term. However, the Company's management believes that "total bookings" provides investors with insight into management's decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, "total bookings" also provides useful insight into the Company's operating performance on a yearly basis. "Total bookings" do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that "Adjusted EBITDA" and "total bookings" are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.
NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE NameSilo Technologies Corp.
For further information: NameSilo Technologies Corp., Paul Andreola, President, CEO and Director, (604) 644-0072, www.brisio.com; NameSilo LLC, Kristaps Ronka, CEO, firstname.lastname@example.org, www.namesilo.com