Company reports continued surge in the latter half of 2022.
Domain name and online advertising company CentralNic (AIM: CNIC) announced today that its organic revenue grew 29% through Q3 2021 compared to the same period last year. Adding in revenue from acquisitions, revenue is up 66% during this time.
The company says revenue through September was at least $280 million, compared to $168.5 in the first three quarters of 2020.
Organic growth accelerated in the third quarter; Q1 organic growth was 16% and Q2 organic growth was 25%.
CentralNic’s biggest acquisition win is likely Team Internet, a domain monetization company it acquired in 2019 for less than 4 times adjusted EBITDA. Internet advertising prices took off the following year as the pandemic pushed businesses online. (Revenue per thousand (RPM) for domain parking, including at Team Internet’s ParkingCrew, lifted significantly that year. The company subsequently acquired more online advertising platforms. While this has propelled the company’s growth of late, this type of revenue is generally less stable than that from domain registration, its core business as of a couple of years ago.
Shares are up about 8% today to 123.5 pence as of 8:20 am PDT. The stock has surged over 40% since the beginning of June.
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