2015-05-07

New gTLD Domain Registry Rightside Q1 2015 Financial Results Today

UPDATE 2: "Gain on other assets, net, was $7.2 million representing the gain on withdrawals of its interest in gTLD applications during the period" (see below).

Rightside Group, Ltd. (NASDAQ:NAME), registrar (eNom, Name) and new gTLD registry, and provider of other domain name services, will announce first quarter 2015 financial results after market close today, May 7, 2015.

UPDATE: Q1 2015 financial results press release - excerpts below:

First Quarter 2015 Financial Highlights
(Unless otherwise noted, all comparisons are relative to the fiscal first quarter 2014.)
  • Registrar services revenue increased 12% to $42.0 million compared to $37.5 millionprimarily due to new gTLD registrations, improved performance by existing resellers and the continued onboarding of eNom wholesale partners.
  • Registry services revenue increased to $1.6 million compared to $42 thousand.
  • Aftermarket and other revenue was $7.3 million compared to $7.0 million. 
  • Total revenue increased 13% to $50.5 million compared to $44.6 million.
  • Gain on other assets, net was $7.2 million representing the gain on withdrawals of its interest in gTLD applications during the period compared to $4.9 million (Q1 2014).
  • Net income was $1.9 million compared to a net loss of $3.9 million. 
  • Adjusted EBITDA was $0.6 million, compared to adjusted EBITDA of ($2.3 million).
Liquidity and Capital Resources
  • As of March 31, 2015, Rightside had cash and cash equivalents of $45.9 million, compared to $49.7 million as of December 31, 2014.
  • As of March 31, 2015, Rightside had $11.0 million of Letters of Credit outstanding under its $30 million revolving credit facility with Silicon Valley Bank, which was established on August 1, 2014 and matures in August 2017.
  • As of March 31, 2015, Rightside had fully drawn its $30 million term loan credit facility with certain funds managed by Tennenbaum Capital Partners, LLC, which was established on August 6, 2014 and matures in August 2019.
Business Outlook
For the full year ending December 31, 2015, Rightside reaffirms its guidance :
Total revenue of $210 million to $220 million, inclusive of $6 million to $9 million of GAAP revenue from the registry services business; and
Total Adjusted EBITDA to break-even as Rightside invests margin generated by the business back into driving market development efforts.

Rightside Q1 2015 financial summary:
Rightside Q1 2015 financial summary


A conference call and audio webcast with investors and analysts will be held today at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time).

Live conference call: 844-413-1777 (domestic) or 716-247-5761 (international)
Conference call replay available through May 12, 2015: 855-859-2056 (domestic) or 404-537-3406 (international). Conference ID: 28640125

Live and archived webcast here.

1 year stock chart of NAME
1 year stock chart of NAME as of May 1 (source: google.com)

As of May 1, 2015 (see screenshot above) Rightside had a market capitalization of $153 million. The stock's 52 week High was $17.00, Low was $6.42, current pricing here.

According to  new gTLD Statistics (source: ntldstats.com), Rightside Registry currently has 36 new gTLDs (new generic top-level domains) with a total of 238,145 domain name registrations.

Rightside, with its affiliates, is a well-known provider in the domain name industry. It offers "one of the industry's most comprehensive platforms for the discovery, registration, usage, and monetization of domain names. In addition to being a new gTLD registry operator, Rightside is home to some of the most admired brands in the industry, including eNom and Name.com. Headquartered in Kirkland, WA, Rightside has offices in North America, Europe, and Australia. For more information visit www.rightside.co."  (source: Rightside)


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