The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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yes, circa $6m of FAT,... scandalous!!
I've always wondered how you can go out and actively try to sell a domain to someone and I can imagine that it wastes a lot of time to do this. The only thing I can think is that they sell a quantity to someone, who re-sells at a profit. The problem that they've had there is that some of those big sales just weren't paid for - and quite a lot by the sound of it... considering the "savings" from the .London deal would be wiped out with these written off sales. (At least they're gone after the next results).
The way I've always seen it is that people who want to buy a domain will go to a registrar and so that's the place to advertise and offer deals. This is the automated channels and they basically do the work for you, you just need to make sure some people choose your domains.
So I agree with an earlier post about the sales team. I really don't think we need one - and certainly not a big one. There are certain areas like .law where these need to be targeted directly, but I can imagine it's hard to find someone who wants a domain. When they need one, they'll go and find one.
This was all part of my original feeling that this business would be very low cost and, once the fees are covered it should be mostly profit with the sales generated by the registrars. However, whilst there are profits, the costs are still way too high and the 30% rise in domains didn't result in a large rise in income... although this could be the billings factor again where we just can't see how much has been earned in the period.
Ultimately, I just hope someone in the industry sees the synergy & excess fat here and makes a decent bid for them. I think the money being made here makes the company worth at least where we are now. £56m valuation with maybe £5-6m "cash generated". That sounds pretty good, but it's been almost 3 years since we were above 10p it's going to be a struggle getting anything above that.
well they are not pulling up any trees with the rest of the portfolio!!
What are margins on broker sales vs alternative?
That might be a reason, plus time taken, plus succes rate.
''I do not believe it is a question of us rejecting broker sales, merely that we do not actively persue them.I imagine that they take negotiation etc''
Jeeeez! don't want to do much do they. Scared off because of a bit of negotiation. If that's the case then get rid of half the workforce imo. Just what on earth are they all doing?? This business model and income level does NOT need 23 employees.
mmm........it certainly begs the question........are these guys just making pots of Earl grey or surfing the internet for good deals on office staplers?
I do not believe it is a question of us rejecting broker sales, merely that we do not actively persue them.I imagine that they take negotiation etc..and that Toby thinks the time is best spent elsewhere ,building his business model.
Mind you,with 23 employees in the company???