During Q1, two major registrars in the industry experienced a decline in revenues, primarily due to a lack of high-priced secondary market sales.



Tucows' overall domains revenue decreased by 4% while GoDaddy's "core platform" revenue dropped by $1 million or 0.2%.

GoDaddy stated that although domains revenue grew by 5%, it was not enough to make up for the slow transactions in the aftermarket business. Tucows similarly faced a weaker aftermarket for domain sales, particularly in the higher price range.

Despite GoDaddy's overall revenue increasing by 3.3%, their core services revenue fell from $699.6 million to $698 million compared to last year. In addition, their net income decreased by 30% to $47.4 million.

Tucows' overall revenue decreased by 0.8% to $80.4 million and they experienced a net loss of $19.1 million, a significant difference from their loss of $3 million in the previous year.