Q4 2024 VeriSign, Inc Earnings Call Transcript
Key Points
- VeriSign Inc (VRSN) achieved a 4.3% year-over-year revenue growth in 2024, demonstrating strong financial performance.
- The company increased its operating income by 5.7% in 2024, showcasing effective cost management and operational efficiency.
- VeriSign Inc (VRSN) returned $1.2 billion of capital to shareholders through the repurchase of 6.6 million shares, indicating a strong commitment to shareholder value.
- The renewal rate for the fourth quarter of 2024 improved to approximately 73.9%, reflecting positive trends in customer retention.
- The company successfully renewed the .com registry agreement with ICANN and the cooperative agreement with the NTIA, ensuring continued operational stability and regulatory compliance.
- The domain name base in .com and .net decreased by 2.1% or 3.7 million names year-over-year, indicating challenges in maintaining domain growth.
- Net income in the fourth quarter of 2024 was $191 million, down from $265 million a year earlier, reflecting a decline in profitability.
- The domain name base decreased by 500,000 names in the fourth quarter, highlighting ongoing challenges in domain retention.
- VeriSign Inc (VRSN) expects a negative year-over-year change in the domain name base for 2025, projecting a decline between 2.3% and 0.3%.
- The company faces continued declines in domain volumes from China-based registrars, which could impact future growth prospects.
Good day, everyone. Welcome to Verisign's fourth-quarter and full year 2024 earnings call.
Today's conference is being recorded.
Recording of this call is not permitted unless preauthorized.
At this time, I'd like to turn the conference over to Mr. David Atchley, Vice President of Investor relations and Corporate Treasurer. Please go ahead, sir.
Thank you, operator. Welcome to Verisign's fourth-quarter and full year 2024 earnings call.
Joining me are Jim Bidzos, Executive Chairman, President and CEO; and George Kilguss, Executive Vice President and CFO.
This call and presentation are being webcast from the Investor Relations website, which is available under About Verisign on verisign.com. There you will also find our earnings release. At the end of this call, the presentation will be available on that site, and within a few hours, the replay of the call will be posted.
Financial results in our earnings release are
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