MMX reports better than expected profits

Digital Pandit

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Portfolio registry MMX saw 2018 financial results slightly ahead of expectations, the company told investors yesterday.

It now expects revenue to be over $15.5 million for the year, compared to $14.3 million in 2017. Operating EBITDA, its preferred profitability indicator, will be “marginally ahead of market expectations”.

It expects revenue from renewals — which MMX has been trumpeting as a key indicator of stability — to be $9.4 million, compared to $4.8 million in the prior year.

That’s mainly due to the $3.4 million contribution of recently acquired porn TLD specialist ICM Registry. Without ICM, renewal revenue was still up 20% though.

The company’s exposure to the Chinese market has also been reduced. It now contributes 36% of sales, compared to 50% in 2017.

Volatile one-off premium domain sales are also on the decrease in terms of revenue share — 15% in 2018 compared to 38% in 2017.

Its full audited results will be published later in the quarter.

Source
 
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