Online Marketing segment continues to outperform.
CentralNic (London AIM: CNIC) reported preliminary numbers for Q1 2022 today, and it’s all roses.
The company said revenue was about $156 million in Q1, up 85% compared to the first quarter of 2021. 51% of that growth was organic. Adjusted EBITDA of $18 million was up 80%.
CentralNic’s Online Marketing segment is leading the charge. The company acquired domain monetization company Team Internet at the end of 2019. It was a risky bet compared to its domain registration business, but the timing couldn’t have been better. Months later, the world shut down due to Covid, and the shift to digital meant soaring pay-per-click prices.
Team Internet’s Parking Crew platform uses Google to monetize its ads. Google made up nearly half of CentralNic’s revenue last year, although a small portion was for the domain registration business.
CentralNic calls its online marketing business “privacy-safe” because most of it is contextual rather than relying on cookies and browsing history.