Bob McWhirterThere’s no time like the present and that holds for the great entry point now available for NameSilo Technologies (NameSilo Technologies Stock Quote, Chart, News CSE:URL), says portfolio manager Robert McWhirter, who says the stock has upside from here. Vancouver-based NameSilo is a domain name registration and management business with currently about 3.45 million active domains under management and over 170,000 active customers around the world. The company continues to see top line growth in recent quarters despite the COVID-19 pandemic. NameSilo delivered its second quarter 2020 results on September 1, posting revenue up 9.1 per cent year-over-year to $7.6 million with a customer retention rate of about 87 per cent. Adjusted EBITDA for the Q2 was $150,766 compared to $663,183 million a year ago, while total booking went down about half a million dollars year-over-year to $7.6 million. In the quarterly comments, CEO Paul Andreola emphasized the fact that companies worldwide are having to refocus their efforts to online commerce as a result of the pandemic, which has led to more business for NameSilo. “It’s more imperative now than ever before that businesses and people around the world be connected, and we at NameSilo are working to provide them with the flexible tools they need to ensure that both their businesses and daily lives can continue to grow and thrive,” Andreola wrote in a press release. “Our business reflects this with Q2 providing another quarter of NameSilo LLC revenue growth and our investment portfolio seeing substantial gains and has grown to record levels.” NameSilo’s share price has seen its ups and downs in recent years, with the stock gaining 27 per cent in 2019 but currently down 55 per cent in 2020. URL has been in the low $0.20 range for about the past two months. But McWhirter said it’s likely a new financing round has caused the stock to drop recently. “I spoke to management recently. They’re in the midst of doing a financing and the stock has drifted off in price,” said McWhirter, president of Selective Asset Management, who spoke to BNN Bloomberg on Friday. “I think it's still a very attractive at this point.” “They have high recurring revenue and they’ve added additional products to their product mix. The disappointment is that the new product mix has not had as much uptake as they had expected. They hope to improve that in the coming months,” McWhirter said. “I think that the stock being depressed because of the potential overhang of that financing provides a good entry opportunity,” McWhirter said. Over the second quarter (ended June 30), NameSilo added domain brokerage platform NameLot Brokerage and drop catching service Catch.Club in beta, while earlier in the year, the company launched web hosting, email and SSL certification as value-add offerings. For the company’s Q2, NameSilo had realized and unrealized investment gains of $2.6 million, which lifted their net income to $2.0 million for the quarter. That compared with a net loss of $307,987 for the same period in 2019.