Team Internet reports growth for 2023

The company generated double-digit revenue growth in 2023.

Picture of a stock ticker board with words "earnings announcement" below it

Team Internet Group (AIM: TIG), formerly known as CentralNic, previewed its 2023 earnings today.

The company said gross revenue was around $835 million, gross profit was $190 million, and its adjusted EBITDA measure was $96 million.

Topline growth clocked in at 15%, gross profit grew 7% year over year, and adjusted EBITDA was up 12%. Organic growth came in at 12%.

The Online Marketing segment, which includes domain parking and arbitrage, grossed $656 million compared to $575 million a year ago. It will be interesting to see how new European Union rules impact this business in 2024.

The Online Presence segment, which includes domain registrars such as Moniker and Hexonet, grossed $179 million compared to $154 million in 2023.

Full results and the audited annual report will be released on March 18.

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