Radix reports over 36% growth in profit for 2020, revenue grows by over 31%
Radix announced last week that it grossed over $28M in total revenue in 2020, a 31% rise over its revenue in 2019. The registry’s net profit also grew by 36% in comparison to last year. Overall, Q3 2020 was its strongest quarter.
In the total annual revenue of over $28M, which is net of all discounts and rebates, 20% has been contributed by standard registrations and 64% by standard renewals. Radix’s premium domains cumulatively generated over $4.5M in revenue, of which 54% can be attributed to premium renewals.
Based on registrars’ country data, the top contributor to Radix’s revenue has been the United States with 64% of the total share, followed by France and Germany.
Speaking about the strong performance, Sandeep Ramchandani, CEO, Radix, said, “2020 was a really strong year for us, both, financially and strategically. Since a majority of our revenue comes from renewals, we will only start seeing the sharp growth in CoVid-led registrations turn into revenues from Q2 2021.”
“We continue to remain focused on our goal of making our domains ubiquitous and powering the identity of a variety of web projects worldwide. We aim to remain on a strong trajectory for the foreseeable future, with initiatives in motion to grow demand for our brands and to selectively acquire other high potential assets.”
Over a 2 year period, Radix has seen its net profit double. Amongst its brands, .online was its highest revenue contributor in 2020 followed by .store and .tech.