NameSilo (CSE: URL, PINKSHEETS: URLOF) has recently announced its Q3 earnings, showcasing significant year-over-year revenue growth. In the third quarter of 2024, the domain registrar achieved $14.35 million in revenue, compared to $12.45 million the same quarter in 2023. Its gross profit also saw an increase, rising to $3.24 million from $2.26 million in the previous year.
Furthermore, NameSilo reported a profit of $0.49 million after taxes, a notable turnaround from the small loss recorded in the prior year, which was largely attributed to investment losses rather than issues with the core business.
In terms of cryptocurrency, the company disclosed that it held 14.41 bitcoins at the end of Q3, an increase from both 12.90 BTC at the end of Q2 and 2.84 BTC at the end of 2023.
Additionally, NameSilo now has a stake in Saw.com following a merger between NameLot and Saw. NameSilo owns 41% of Saw, with an additional 9% owned by minority shareholders of NameSilo, while Saw’s former shareholders hold the remaining 50%.
For the first time, NameSilo’s earnings report incorporates Saw’s performance, revealing that Saw generated $2.86 million in revenue during the last quarter alongside a net gain of $0.32 million.
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