Global internet platform CentralNic has reported a 121% increase in revenue for the 2020 calendar year.
CentralNic, which gets its revenue from subscription sales of domain names and web services, reported revenue of $241.2m for 2020 versus $109.2m for 2019. Gross profit jumped by 78% to $76.3m while operating earnings rose by 71% to $30.6m.
Ben Crawford, CEO, said CentralNic had generated as much revenue in 2020 as in the five preceding years all added together.
He said the results were evidence of “the resilience of the group's businesses, even in the face of the COVID-19 economic crisis. As we scale up rapidly, the underlying qualities of high recurring revenues and high cash conversion, calculated at 115% on an adjusted basis in FY20, become increasingly meaningful.”
https://capital.com/centralnic-reports-surge-in-revenue
CentralNic, which gets its revenue from subscription sales of domain names and web services, reported revenue of $241.2m for 2020 versus $109.2m for 2019. Gross profit jumped by 78% to $76.3m while operating earnings rose by 71% to $30.6m.
Ben Crawford, CEO, said CentralNic had generated as much revenue in 2020 as in the five preceding years all added together.
He said the results were evidence of “the resilience of the group's businesses, even in the face of the COVID-19 economic crisis. As we scale up rapidly, the underlying qualities of high recurring revenues and high cash conversion, calculated at 115% on an adjusted basis in FY20, become increasingly meaningful.”
https://capital.com/centralnic-reports-surge-in-revenue
