Tucows reports slight growth in domain name business – Domain Name Wire

Domain Name Wire | Domain Name News
Domain Name Industry News
Andrew Allemann Leave a Comment November 3, 2023
Company plans new revenue sources for its domains business.
Tucows (NASDAQ: TCX), which operates OpenSRS, Enom, Hover, and a couple of other domain registrars, reported slight growth in its domain name business last quarter.
The company grossed $61.1 million from its domain business in Q3, up from $60.3 million in the same quarter a year ago. The company also reversed a trend of quarter-over-quarter declines in gross margin.
Tucows said the business continues to be hurt by flagging revenue from expired domain sales. It will be interesting to see what impact GoDaddy raising its minimum bid to $25 has on these results; Tucows sends most of its expired domains to GoDaddy Auctions.
In pre-recorded prepared remarks, DaveWoroch, CEO of Tucows Domains, said the company is working on a new product for its resellers to help hosts transition to cloud-based services. It is also developing a billing and provisioning system.
Tucows’ overall Q3 revenue was up 11% year over year.
Shares in Tucows are up 15% in trading this morning.
Categories: Domain Registrars Tags: nasdaq: tcx, Tucows
Stay up-to-date with the latest analysis and news about the domain name industry by joining our mailing list.
No spam, unsubscribe anytime.
Domain Name Wire is a trade publication for the domain name industry covering topics relevant to domain investors, brand owners, policy makers, domain registrars and registries, and more. Read More About DNW
Stay up-to-date with the latest analysis and news about the domain name industry by joining our mailing list.
No spam, unsubscribe anytime.
© 2005–2022 Domain Name Wire · DNW and Domain Name Wire are trademarks of Brainstorm Labs, LLC