Team Internet is earning 7% less from visitors.
Team Internet Group (AIM: TIG), formerly CentralNic, announced unaudited results for the first three quarters of 2023 today.
The company said gross revenue increased 16% compared to the first three quarters of 2022, growing to $611.7 million. Organic revenue on a trailing twelve-month basis was up 19%.
Team Internet’s adjusted EBITDA number for the first three quarters of 2023 was $68.8 million, up 11% compared to the same quarter a year ago.
These growth rates are significantly lower than what the company had been posting.
One reason for this might be hitting some walls in traffic arbitrage. Although the company had many more visits to landing pages this year than last, revenue per thousand visitors decreased from $104 to $97.
There could be more pain on the horizon due to privacy regulations. In recent years, Team Internet has avoided most of these regulations because it serves mostly contextual ads rather than cookie-driven ads. But it will be interesting to see how the consent requirement next year impacts parking ads.
In addition to online advertising businesses, Team Internet also owns many domain registrars, including Moniker, OnlyDomains, and Instra.