leadf
logo-loader
viewMinds + Machines Group Limited

Minds + Machines regroups after contract review

Snapshot

  • Owner of top-level domain portfolio
  • International network of registrars and domain distributors
  • Owns around 26 TLDs
.com domain

Quick facts: Minds + Machines Group Limited

Price: 5.1 GBX

AIM:MMX
Market: AIM
Market Cap: £44.97 m
Follow

 

What Minds + Machines does

Minds + Machines Group PLC (LON:MMX) owns and operates a portfolio for generic top-level internet domains (TLDs).

TLDs are the suffixes attached to the end of website addresses (e.g. .com, .org, .net), with MMX’s portfolio mainly focusing on geographic domains (.london, .boston, .miami), professional occupations (.law), consumer interests (.fashion, .wedding, cooking), lifestyle (.fit, .surf, .yoga), outdoor activities (.fishing, .garden, .horse) and generic names (.vip, .work, .casa).

In total, MMX owns around 26 TLDs. A particular highlight is its ‘.luxe’ domain, which looks to provide a standardised naming convention for blockchain addresses.

MMX works with an international network of registrars and domain distributors to help disseminate its portfolio, counting registrars like US-based GoDaddy Inc (NYSE:GDDY) among its partners.

How is it doing

In October, MMX reported that revenue associated with a specific contract had been incorrectly recognised in the year ended 31 December 2019 and the six months to 30 June 2020, with possible similar issues on two other contracts.

A boardroom shake-up followed with Guy Elliott becoming executive chairman on an interim basis, Tony Farrow became interim CEO while non-exec Bryan Disher took over the finance function.

In a statement, MMX added: "The board remains committed to returning excess capital to shareholders. The company continues to have a strong balance sheet and surplus cash to its operating requirements." 

 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Minds + Machines Group Limited named herein, including the promotion by the Company of Minds + Machines Group Limited in any Content on the...

FOR OUR FULL DISCLAIMER CLICK HERE

Market report: FTSE calms as optimism vaccine news is challenged by rise in...

FTSE 100 had a lukewarm start on Wednesday as positive vaccine news can’t change the current rise in infections and global lockdowns. London’s leading index advanced 11 points to 6,308 in early dealing. JD Wetherspoon PLC (LON:JDW) has posted a 28% slump in sales over the past four months...

2 weeks, 5 days ago

2 min read