NameSilo Technologies Corp. Announces Q2 2023 Results.

VANCOUVER, BC: NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: URLOF) (the "Company"), one of the largest domain registrars in the world, is pleased to announce the financial results for the quarter ending June 30, 2023. The financial statements and related management's discussion and analysis ("MD&A") can be viewed on SEDAR at www.sedar.com.

Financial Highlights of the Company:

The Company experienced financial results in fiscal Q2 2023 as set forth below (all figures in Canadian dollars):

Record Revenues of $12,008,757 for Q2 2023 as compared to $11,248,570 in Q2 2022, an increase of 6.8%. The increase in revenues for Q2 2023 was due to an increase in domains under management, marketplace revenues, and from the sale of ancillary services.

Gross Profit of $2,103,915 or 17.5% of its revenues in Q2 2023 vs $2,196,621 or 19.5% in Q2 2022. The drop in gross margin was due to a lack of volume rebates in the quarter.

Operating income of $253,907 for Q2 2023 compared to $561,751 in Q2 2022. The lower operating income is primarily due to lower gross profit and higher SG&A expense in 2023.

Net income of $828,011 in Q2 2023 compared to net loss of $683,040 in Q2 2022. The higher net income is primarily due to other expense recovery of $462,494 in 2023 and a gain on investments of $285,343 as opposed to a loss on investments of $1,049,675 in 2022.

Adjusted EBITDA* of $1,009,209 for Q2 2023 up 20.1% as compared to $840,188 in Q2 2022

Total Bookings* of $12,164,223 in Q2 2023 compared to $12,084,361 in Q2 2022.

Total deferred revenues of $26,401,782 as of June 30, 2023, vs $25,586,468 at June 30 2022.

NameSilo LLC ("NameSilo") has grown to over 4.77 million active domains under management and customers in approximately 160 countries. Since acquiring NameSilo in August 2018 the new management team has grown revenues from full year 2017 revenues of approximately $10.6 million to over $45.0 million in 2022. Domains under management have grown from 1.85 million to over 4.77 million today. The Company has also invested significant resources to offer new...