CSE: URL / OTC: URLOF
VANCOUVER, March 27, 2019 /CNW/ - NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: URLOF) (the "Company") is pleased to announce the financial results of its subsidiary, NameSilo LLC ("NameSilo") for full year 2018 and for the period from August 1, 2018 (being the date of acquisition) to the financial year end, December 31, 2018.
Financial Highlights of NameSilo for 2018:
- Revenues of $17,243,673 (US $13,308,384) for fiscal year 2018 as compared to $10,482,091 (USD $8,071,840) for the fiscal year 2017.
- Gross Margin of $2,412,121 (US $1,861,635), being 14.0%, for the fiscal year 2018 as compared to $1,121,266 (USD $863,442) being 10.7% for the fiscal year 2017.
- EBITDA* of $1,929,116 (US $1,488,208) being 11.2% for the fiscal year 2018 as compared to $565,201 (USD $435,239) being 5.4% for the fiscal year 2017.
- Net Income of $1,929,135 (US $1,488,223) for the fiscal year 2018 as compared to $565,201 (USD $435,239) for the fiscal year 2017.
- Total Bookings* of $28,786,042 (US $21,452,503) for the fiscal year 2018 as compared to $14,046,950 (USD $10,816,995) for the fiscal year 2017
Financial Highlights of NameSilo for the period from August 1, 2018 (being the date of acquisition) to the financial year end, December 31, 2018 (the "Five Month Period"):
- Revenues of $10,046,103 (US $7,698,868) for the Five Month Period.
- Gross Margin of $1,681,942 (US $1,292,561), being 16.7%, for the Five Month Period.
- EBITDA* of $1,605,811 (US $1,236,236) being 16.1% for the Five Month Period.
- Net Income of $1,605,811 (US $1,236,236) for the Five Month Period.
- Total Bookings* of $15,171,607 (US $11,134,520) for the Five Month Period.
Paul Andreola, CEO of NameSilo Technologies, stated, "In a short five-month period, our NameSilo financial results met and/or exceeded NameSilo's entire twelve-month period in fiscal 2017. NameSilo continues to be on a path of strong growth as evidenced by being the second-fastest growing domain registrar in the month of November 2018 (which is the last reported month by Registrar Owl). As our EBITDA and net income in NameSilo reflects, we have done this with near-zero marketing spend."
In less than 8 months since acquiring NameSilo in August 2018, NameSilo has grown domains under management by approximately 850,000 and currently has approximately 2.7 million active domains under management making it one of the 15 largest domain registrars in the world. NameSilo delivers value to its customers and continues to grow domains at one of the fastest rates in the industry. To further increase value to its customers, NameSilo will continue launching additional services which are expected to further enhance growth.
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 2.7 million active domains under management, and over 240,000 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.
*Future-Oriented Financial Information
This news release contains future-oriented financial information and financial outlook information (FOFI) about NameSilo's anticipated financial results for the fiscal year ended 2018 and the Five-Month Period prior to completion of the audit of NameSilo and the Company. The FOFI contained in this news release was made as of the date of this news release and was provided for the purpose of providing information about NameSilo's anticipated financial results from its business operations during the fiscal year ended 2018. The Company disclaims any intention or obligation to update or revise any FOFI contained in this news release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. The FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.
*Non-IFRS Financial Measure
Readers are cautioned that "EBITDA" and "total bookings" are measures not recognized under IFRS. EBITDA. 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 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 "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.
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, [email protected], www.namesilo.com