Web-hosting platform Hostinger today announced a 57% year-on-year growth of its consolidated revenue, reaching €110.2mn in 2023 — surpassing the €100mn milestone for the first time since its founding in 2004.
This was also Hostinger’s first year of EBITDA profitability. The Lithuanian company reached € 2.4mn in EBITDA profit, while maintaining positive cash flow.
Born in Vilnius, Hostinger helps its customers scale their online activity, offering products and services for use cases spanning from portfolio websites to blogs and e-shops.
According to the company, a major factor behind last year’s financial landmarks is the adoption of AI across its hosting, e-commerce, and web services, which drove up customer demand and reduced costs internally.
Specifically, Hostinger launched a range of AI tools that can help website building without requiring extensive IT experience, provide tailored website addresses and generate images and written content, optimised for search engines.
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The startup also developed an AI assistant for more efficient customer service.
Overall, Hostinger saw a 57% year-on-year increase in its customer base, reaching 2.42 million customers. France, the US, India, Brazil, and Indonesia accounted for the most active users. Spain and the UK were also in the top 10.
Meanwhile, the company invested in the automation of several business functions and managed to meet the increased demand for its services without additional hiring.
“For the past seven years, we have maintained a similar 60-70% YoY growth rate, and we plan to keep it in 2024,” Daugirdas Jankus, CEO of Hostinger, told TNW.
“We see lots of untapped potential within the market, and we believe we will manage to maintain our momentum for this year, too.”
