Second-largest retail registrar continues strong growth.
Namecheap, a privately held domain registrar and services business, has released its 2023 earnings results to Domain Name Wire.
The company grossed $335.6 million in 2023, up 15.2% from $291.4 million in 2022.
Namecheap added 1.74 million domains under management in 2023 (11% growth over 2022), bringing its total domains under management (DUMs) to 17.66 million at the end of the year. Namecheap is the second-largest retail registrar worldwide.
This growth comes despite industry-wide headwinds in the domain name and webhosting markets coming out of the pandemic.
Customer growth is also strong. The company stated:
As we continue to invest in our industry-leading, 24/7 customer support team, our intuitive user experience and our growing product offering, we are very proud to have welcomed over 1.11M new customers onto the Namecheap platform during the last year. In addition to our domain business, our additional product portfolio continues to outperform prior years across the board. We launched a range of new products during 2023, including a variety of security, privacy, marketing and business formation solutions that aim to bring additional convenience and value to our millions of customers.
Namecheap launched its new Spaceship brand last year, and it says its initial focus is on organically attracting early adopters. The new brand hit 475,000 registrations and has generated over $2 million in revenue in its first year. The company promises lots of new features and initiatives with Spaceship.