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TheStreet Open House

Tucows CEOs Discuss 1Q 2012 Results - Earnings Call Transcript

More specifically wholesale, which includes the OpenSRS Domain Service and other value-added services, which are, email, digital certificates and ISP billing software. Also, now includes revenue generated from the Domain Name Expiry Stream. These were previously included in YummyNames.

Retail includes Hover, as well as the current Ting offering.

Portfolio includes the resale names from our domain names portfolio and advertising revenue from those names. Both of which, were previously included under YummyNames, as well as our two advertising supported websites, which were previously discussed as Butterscotch.

Beginning with wholesale, Q1 was another solid quarter for domain service transactions which up 21% from Q1 of last year to another record at more than $2.4 million.

Domain service revenues increased 19% year over year. Growth in, both, new registrations and renewed registrations, was strong, at 24% and 21%, respectably. We, also, saw healthy sequential growth in overall transactions volume at 15%. Renewal rates continue to be strong and take up slightly at 76%, remaining above the industry average.

Total domains under management at the end of Q1 were up 9% from the same point last year and surpassed the 12 million mark for the first time. As I mentioned a moment ago, revenue generated by sales and advertising from our Domain Expiry Stream, is now being included in our wholesale numbers.

Our Expiry Stream business had a very good quarter in Q1. Sales of bulk direct-navigation names almost doubled from Q1 of last year, benefiting from the addition of a secondary partner. Advertising revenue from park domains, from both expiry and portfolio, continue to improve.

Moving to retail, Hover revenue increased more than 30% year-over-year and almost 10% sequentially. Hover continues to show excellent customer growth and strong renewal performance. New transactions, which include new domains, transfers and email accounts experienced solid growth of 30% year over year and 27% sequentially. Renewal rates continue to impress. Our great support and simple, useful website are both amplified by our customers through social media.

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