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VeriSign, Inc. (VRSN) is a global provider of critical internet infrastructure and domain name registry services, primarily enabling internet navigation for many of the world's most recognized domain names . The company plays a crucial role in the security, stability, and resiliency of the Domain Name System (DNS) and the internet by providing Root Zone Maintainer services, operating two of the thirteen global internet root servers, and offering registration services and authoritative resolution for the .com and .net top-level domains (TLDs), which support the majority of global e-commerce . VeriSign's business is heavily influenced by the growth in online advertising, e-commerce, and the number of internet users, with domain name registrations being a significant driver of revenue .
- Domain Name Registry Services - Provides registration services and authoritative resolution for the .com and .net top-level domains (TLDs), supporting global e-commerce.
- Root Zone Maintainer Services - Ensures the security, stability, and resiliency of the Domain Name System (DNS) by maintaining the root zone.
- Internet Root Servers Operation - Operates two of the thirteen global internet root servers, contributing to the overall stability and functionality of the internet.
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Given the domain name base decreased by 1.1 million names in Q3 2024, and with U.S. registrars prioritizing ARPU over customer acquisition, what specific strategies are you implementing to reverse this trend and drive growth in domain registrations, especially considering the challenges in returning to growth in the second half of 2025?
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Can you provide more insight into the new registrar marketing programs you've developed, and explain why their adoption is taking longer than expected? What are the main obstacles, and how do you plan to encourage registrars to engage with these programs sooner?
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With China-related weakness significantly impacting the domain name base, what steps are you taking to mitigate this influence, and how confident are you that improvements in the Chinese economy will lead to better performance for Verisign?
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You mentioned that operating expenses are expected to grow more in 2025, particularly due to investments in marketing programs; can you elaborate on which areas will see increased spending and how these investments will contribute to profitable growth?
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Considering your strong cash position and substantial share buybacks, have you evaluated the possibility of leveraging your balance sheet further to enhance shareholder returns, or are there strategic reasons for maintaining a conservative financial stance?
Competitors mentioned in the company's latest 10K filing.
- China Internet Network Information Center (CNNIC) - Competes in the domain name registry space.
- DENIC eG - Competes in the domain name registry space.
- Nominet - Competes in the domain name registry space.
- Identity Digital - Competes in the domain name registry space.
- Public Interest Registry (PIR) - Competes in the domain name registry space.
- CentralNic - Competes in the domain name registry space.
- Google - Competes in the domain name registry space.
- .xyz - Competes in the domain name registry space.
- GoDaddy - Competes in the domain name registry space.
- Radix - Competes in the domain name registry space.
- Facebook - Competes as a social media network for online identity.
- Instagram - Competes as a social media network for online identity.
- TikTok - Competes as a social media network for online identity.
- WeChat - Competes as a social media network for online identity.
- Amazon - Competes as an e-commerce platform.
- Etsy - Competes as an e-commerce platform.
- eBay - Competes as an e-commerce platform.
- Taobao - Competes as an e-commerce platform.
- X (formerly Twitter) - Competes as a microblogging tool.