Organic growth rate slows; company continues aggressive share buybacks.
Domain name and online advertising rollup CentralNic (AIM: CNIC) announced preliminary results today for the first half of 2023.
The company has slowed down its acquisition spree, which means a strong focus will now be put on its organic growth. And that’s slowing.
Year-over-year organic growth for the trailing twelve months ending June 2023 is expected to be around 31%. That rate was 46% at the end of Q1 2023. And looking back a year ago, the company reported a trailing 12 month-rate of 62% at the end of H1 2022.
Gross revenue for the first half of the year was $396 million, an 18% increase from the first six months of 2022. Net revenue was up 11%, and Adjusted EBITDA was up 15% year over year.
The company has started to return capital to shareholders through its first-ever dividend paid in June, as well as aggressive share buybacks.
Learn more about CentralNic in this podcast with the company’s CEO.