Team Internet Group (AIM: TIG, OTCQX: TIGXF), a conglomerate of domain name and online advertising companies, announced its financial results for the first half of 2024, revealing a 3% year-over-year increase in overall revenue, totaling $409.7 million. The company also reported a 4% rise in adjusted EBITDA and a corresponding 4% increase in profit after tax.
Team Internet operates through two main segments: Online Marketing and Online Presence.
The Online Marketing segment encompasses domain parking, traffic arbitrage, and other online advertising ventures. This segment saw a nearly 3% revenue increase and a 5% rise in gross profit. However, the segment is facing challenges in the advertising market, with higher costs for acquiring traffic and a decline in revenue per thousand visitors (RPM). The RPM, reported on a trailing twelve-month basis, has dropped from $100 to $88, continuing a downward trend from $91 in Q1.
The Online Presence segment includes domain name registrars like Hexonet and Moniker, along with domain registry services for companies such as XYZ. This segment experienced a 6% increase in revenue in the first half of the year.
Despite the growth in the Online Presence segment, the overall company growth is more closely aligned with the performance of the larger Online Marketing segment, which is approximately three times the size of Online Presence.
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