Company doubles billings in 2016.
In a business update posted today, top level domain name company MMX (London AIM: MMX) reported $15.8 million in billings for 2016. That’s double the billings the company reported for 2015.
Renewal billings increased year-over-year by 116% to $3.8 million. The company has a goal of getting to a point within the next 18 months at which renewal billings will cover ongoing company expenditures, meaning each incremental sale will essentially be pure profit.
Thanks in part to the launch of .VIP, 59% of the company’s billings last year were in China. The U.S. accounted for 24% and Europe 17%.
MMX will release one or two new TLDs this year, one of which will be .Boston.
More details about the company’s 2016 results are contained in this investor brief.