NameSilo Reports Record-Breaking 2024 as Domain Count and Profits Surge
NameSilo Technologies Corp. wrapped up 2024 with its most profitable year on record. The company reported annual revenues of $55.23 million, marking a 12.8% increase over 2023. This is the seventh straight year of revenue growth for the domain registrar, which now manages more than 5.71 million active domains across 160 countries.
Financial Growth Backed by Strong Performance Across the Board
The Vancouver-based firm recorded a sharp rise in operating income, posting $4.08 million for 2024—more than double its 2023 result. Gross profit also climbed significantly, reaching $12.08 million. Adjusted EBITDA came in at $2.88 million, up 16% from the previous year.
Bookings for the year hit $60.64 million, a jump of more than 21%. Operating cash flow rose to $6.63 million, up from $2.77 million in 2023. Net income landed at $304,878 for the year, swinging from a net loss the year before.
Q4 Delivers Strong Finish
Fourth-quarter revenue reached $14.9 million, an 18.4% increase from Q4 2023. The company saw growth across its marketplace, domain registrations, and related services. Q4 operating income rose to $762,721, while operating cash flow more than doubled to nearly $3 million.
Fewer Shares, Less Debt, More Cash
During the year, NameSilo repurchased and canceled 1.3 million shares through its NCIB program. The company also slashed its debt by more than $1 million, bringing total debt down to just $419,378. As of December 31, 2024, NameSilo held $3 million in cash and equivalents.
Domains Under Management Pass 5 Million
Since acquiring NameSilo in 2018, the current management team has increased domain count from 1.85 million to over 5.71 million. The company says more than 650,000 domains were added in just the last five months.
In addition to domain names, NameSilo has continued to roll out services like hosting, email, security tools, a free logo generator, and a growing marketplace. These new offerings contributed to higher margins and recurring revenue.
Customer Access and Payment Flexibility
NameSilo continues to prioritize accessibility, offering over 150 payment options. This includes traditional methods like credit cards as well as Apple Pay, Venmo, Alipay, and even Bitcoin. The company was one of the earliest domain registrars to accept cryptocurrency.
Leadership Focused on Expansion
CEO Paul Andreola credited the company’s financial discipline and expanded product offerings for its 2024 performance. “We’ve crossed the 5-million-domain milestone, improved our margins, and strengthened our cash position. Our team is focused on smart investments and returning value to shareholders,” he said.
NameSilo also increased its investment in companies including Ola Media, Alchemy Nanotech, and Cheelcare. Internally, the company is collaborating with Saw.com to build a domain brokerage platform aimed at further monetizing premium domain assets.
Looking Ahead
With consistent revenue growth, solid cash flow, and declining debt, NameSilo is entering 2025 in strong financial shape. The focus remains on expanding value-added services and improving retention across a growing global customer base. The company’s move to reinvest in share buybacks, debt reduction, and strategic assets signals a clear plan for continued growth.