Rightside posts profit and gets big haul from withdrawing new top level domain name applications.
Rightside released first quarter earnings after the bell today.
The company posted an adjusted EBITDA of $0.6 million and a GAAP profit of $1.9 million.
Revenue from Registrar Services (i.e. eNom and Name.com) was $42.0 million, up from $37.5 million in the same quarter last year. Registry Services (i.e. new top level domains and backend services) revenue was $1.6 million, up from just $42,000 in the same quarter last year.
Rightside previously reported Registrar and Registry services as a combined line item. The combined $43.6 million in Q1 tops the previous quarter’s $43.2 million.
Aftermarket revenue was $7.3 million, up from $7.0 million in Q1 2014 but down from $8.6 million in Q4 2014.
The company pocketed $7.2 million from withdrawing its new top level domain name applications.
Name.com is doing well with revenue growth of 30%. So far this year, 15% of Name.com’s new registrations are from new top level domain names. These have an average selling price of three times what Name.com gets from “legacy” domains. Name.com is proving to be a smart acquisition as it provides a good channel for Rightside’s own top level domain names.