Q2 volume declines toward end of quarter with fewer large transactions.
Escrow.com released its Q2 2023 domain investment index today, and parent company Freelancer.com (ASX: FLN) reported earnings yesterday.
The company reported a 31% drop in domain name payment volume between Q1 and Q2, with USD $89 million in Q2.
It blamed this drop on a reduction in “mega” deals. As Freelancer.com CEO Matt Barrie discussed on the DNW Podcast earlier this year, the company handled significant transactions like the eight-figure chat.com deal in Q1.
Escrow.com handles more than just domain names (autos, IP addresses, etc.) and reported USD $147 million total volume in Q2.
The company said transaction volume was trending well until the end of May when it lost steam.
In its earnings report, the company published a graphic showing both transaction volume and dollar volume across the quarter (pictured above). It’s interesting to see how this changes, and you can spot larger transactions such as the one right at the end of May or the beginning of June. I believe this chart is in AUS dollars. Note that this is for all types of transactions, not just domain names.