NameSilo Technologies Corp. Announces 2019 Q3 Results

Record Quarterly Revenue and EBITDA*

NameSilo LLC revenues up 57.9% from Q3 2018

CSE: URL / OTC: URLOF

VANCOUVER, Nov. 27, 2019 /CNW/ - NameSilo Technologies Corp. URL URLOF (the "Company"), one of the fastest growing domain registrars in the world, is pleased to announce the financial results for the quarter ending September 30, 2019.  The financial statements and related management's discussion and analysis ("MD&A") can be viewed on SEDAR at www.sedar.com.

Q3 2019 Operation Highlights of NameSilo LLC (Operating subsidiary):

• Record Revenue. NameSilo LLC recorded revenues of $7,849,498 in Q3 2019 compared to $4,971,972 in Q3 2018, up 57.9%. Year-to-date ending September 30, 2019 revenues totaled $21,294,085 compared to $10,592,291, up 101.0% over the nine-month period ended September 30, 2018.
• Record Net Income.  NameSilo LLC also realized a significant increase in net income before tax to $1,044,056 in Q3 2019 compared to $25,019 in Q3 2018, up 4,073%.  Year-to-date ending September 30, 2019 net income before tax totaled $2,248,940 compared to $194,476, up 1,056% over the nine-month period ended September 30, 2018.
• Robust Customer Growth.  NameSilo continues to be one of the fastest growing domain registrars in the world. The company added approximately 220,000 net new domains and 20,000 net new active customers in Q3.
• Strong Customer Base.  NameSilo is one of the 15 largest domain registrars in the world.  As of the date of this news release, NameSilo has approximately 3.37 million active domains under management with over 170,000 active customers in approximately 160 countries.
• Loyal Customer Base.  NameSilo maintains a customer retention rate of approximately 87%.  Customer loyalty is driven by excellent customer service, array of services and affordable and consistent pricing.
• New Value-Added Services.  Successfully launched Web hosting, e-mail and SSL certification as value-add offerings. The company has also launched a variety of services aimed at its growing professional domainer clientele.

Q3 2019 Financial Highlights of NameSilo Technologies Corp.:

• 4th consecutive quarter of record revenues and EBITDA* since completing acquisition August 2018
• Q3 2019 revenues up 12.8% over Q2 2019
• Q3 2019 EBITDA* up 33.1% over Q2 2019
• $1,673,216 of net cash provided by operating activities during the nine months ended September 30, 2019.

The Company had a net loss during the three months ended September 30, 2019 of $753,093 compared to a net loss of $1,606,082 for the same period in 2018.  The loss is primarily due to non-cash costs, such as interest and loan accretion expense of $ 285,246 (2018 - $525,131), amortization of equipment and intangible assets of $609,458 (2018 - $nil), non-realized loss on investments of $661,775 (2018 -$597,900 ), and the share-based payment of $3,863 (2018 - $227,626).

NameSilo Technologies CEO Paul Andreola stated: "Once again we are very pleased with another strong quarter and record results. We continue to be one of the fastest growing domain registrars in the world. The continued strong growth in customers, domains under management (now over 3.37 million) and the introduction of new complementary services generated record numbers in quarterly revenues, adjusted EBITDA* and bookings*. The Company's focus in 2020 will be offering customers new integrated products to enhance user experience, increase brand loyalty, and continue to drive strong revenue growth, margin improvement and average revenue per user."

Kristaps Ronka, NameSilo LLC CEO comments: "Our team continues the phased launch of our new website and is working on adding new services. We are now also galvanizing our SEO strategy that has been neglected thus far. We see a significant opportunity for NameSilo's continued organic growth and expect the impact of this effort will begin to materialize in 2 months and accelerate over time. Our website builder product will be pushed out in the next two weeks. We will also launch our site import tool by the end of Q4 and will be targeting customers that have been overpaying with our competitors. Our focus is to continue to provide services better and cheaper than any of our competitors. The internet services space has become commoditized and the long-standing tradition of fooling users with bait and switch schemes and overcharging for products is coming to an end. We are excited to be a leader in this positive change."

Mr. Ronka continues: "To our domainers - we are working on a new domain brokerage platform called "NameLot". We are very excited about this amazing new tool that will serve our large domainer customer base to buy and sell domains with ease and efficiency. Expect to hear more about this in Q2"

About NameSilo Technologies Corp. and NameSilo LLC

NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. NameSilo does not invest on behalf of any third party and it does not offer investment advice.

NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with approximately 3.37 million active domains under management, and over 170,000 active customers from approximately 160 countries.

Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements.

*Non-IFRS Financial Measure

Readers are cautioned that "Adjusted EBITDA" and "total bookings" are measures not recognized under IFRS. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, restructuring costs, impairment charges and other non-recurring gains or losses. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons.  Total bookings include the full amount of cash received from new domain bookings, renewals and other related services.  Whereas, under IFRS, the Company records revenue from domain booking and renewal fees on a straight-line basis over the life of the contract term.  However, the Company's management believes that "total bookings" provides investors with insight into management's decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions.  Further, "total bookings" also provides useful insight into the Company's operating performance on a yearly basis. "Total bookings" do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that "Adjusted EBITDA" and "total bookings" are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.

NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE NameSilo Technologies Corp.

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