Sales drop but company sees hope on the horizon.
Sales were $75 million in the quarter, down 28% compared to Q3 2021. It was the worst quarter for domain sales at Escrow.com since Q2 2020, which is when the market halted due to the pandemic.
However, there’s is some good news. In a release accompanying the report, Escrow.com Chief Executive Matt Barrie said, “Domain sales have shot back up strongly in October with significant sales in the first two weeks of the month. The decrease in Q3 sales can almost all be attributed to a drop in multi-million dollar mega domain name transactions, which have been a result of the recent crypto crash and tech wreck.”
So there’s been a rebound, and unless you were dealing with very high end domains, your results are probably better than the drop Escrow.com experienced.
And the trailing 12 months’ sales at Escrow.com are up compared to the previous 12 months.
In other news, former Escrow.com GM Jackson has left the company.
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