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Namecheap posts $45M+ revenue in Q1

Revenue up 23% year-over-year. 

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Privately held domain name registrar Namecheap grossed more than $45 million in revenue in the first quarter of 2020, the company revealed to Domain Name Wire.

That’s up from $37 million in the same quarter last year. For comparison, its total haul in 2019 was $149 million.

The registrar added 220,000 new customers during the quarter, a 30% increase over Q1 2019.

Namecheap CEO Richard Kirkendall said:

In these uncertain times, we have been fortunate to see our business holding ground and continuing to grow despite the global economic climate.

Looking forward, we don’t foresee a major slowdown in our growth as more and more small businesses look to move or start their operations online. Namecheap is well positioned to serve these customers both in terms of a very competitive price point as well as a product line that allows them to easily establish themselves online.

Kirkendall said the company is continuing to operate at full capacity with 100% of employees working from home.

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