Impact from large customer loss is mostly over.
Tucows (NASDAQ: TCX) reported earnings yesterday.
The company’s domain name business saw revenue decline 4% year over year to $65.0 million. It was up slightly quarter-over-quarter, however.
Tucows said the decline was due in part to the continuing impact of a major customer insourcing their domain names to their own accreditation.
That’s reflected in the company’s domains under management, which fell from 24.0 million to 21.3 million over the same period.
Most of that customer’s renewals have worked their way through the system as of the end of Q2.
Both wholesale (e.g., Enom, OpenSRS) and retail (Hover) revenue declined year over year.
Tucows said revenue from expired domain sales continued to increase.
Last week, Tucows announced a debt refinancing that will give it more time to sell its Ting Fiber business. Shares shot up 50% the day of the news.
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