Lithuania-based web hosting platform Hostinger has reported remarkable financial growth in 2023. It announced a 57% increase in its consolidated revenue. The revenue for the years has reached €110.2 million. This is the first time it has surpassed the €100 million milestone since 2004.
Hostinger also achieved EBITDA profitability for the first time. It has witnessed a profit of €2.4 million and simultaneously a positive cash flow. The achievements highlight its robust financial health and of course its efficient operational management.
Hostinger provides a range of services to help customers expand their online presence irrespective of simple portfolio websites or complex blogs and e-commerce platforms. A key driver behind its success is its strategic adoption of artificial intelligence (AI) across its services.
It lately introduced various AI tools and all these were aimed to simplify website building. The tools help its customers to generate website addresses, create optimized content and even produce images. Moreover, it has come up with an AI assistant to streamline as well as improve customer service.
The focus on AI boosted the demand of customers and also helped it in reducing internal costs. The impact is evident in its expanded customer base that grew by 57% to 2.42 million customers. Its key markets include France, the US, India, Brazil and Indonesia.
The commitment of Hostinger to innovation and efficiency is further highlighted by its investment in automation. This allowed it in managing increased demand without hiring additional staff. This showcases its smart approach.
CEO Daugirdas Jankus expressed confidence in maintaining the growth journey and stated that they have maintained a similar 60-70% YoY growth rate over the years. They have plans to keep the same journey in 2024.
