Kirkland-based domain name services company Rightside announced today that its business is growing on the back of increased interest in new top level domains. The company brought in $51.7 million in revenue during the fourth quarter of 2014, up from almost $45.6 million during the same period in 2013.
Rightside reported net income of $1.45 million during the quarter, which translates into earnings of 8 cents a share. That’s a marked increase over the same period in 2013, when it lost $5.7 million.
It’s good news for the company, which spun off from Demand Media last year. This is Rightside’s second quarterly earnings report as an independent company, and the first in which it posted a profit.
“Rightside closed 2014 with a strong quarter of revenue growth across each area of our business. Additionally, in completing just our second quarter as an independent public company, we exited the year having laid the foundation that positions our company as an industry leader, poised for further growth and impact,” Rightside CEO Taryn Naidu said in a press release. “We now operate the largest new gTLD registry platform and one of the largest registrar platforms in the world. Rightside is beginning to reap the benefits of being the industry’s first vertically integrated domain name services company of scale, with operating performance now characterized by double-digit revenue growth, increasing average revenue per domain, and expanding margins.”
Rightside’s financial statements are embedded below. The company’s stock price is flat in after hours trading as of this report.