DePIN can build critical internet, energy, and geospatial infrastructure where no alternatives exist.Messari sat down with investors at DePIN Summit Africa to unpack the opportunities and challenges ahead.Proof of Coverage Media (@Proof_Coverage):Why are investors excited about DePIN today?@dylangbane from @MessariCrypto hosts:- @mustafakqazi from @VoltCapital- Rapolas Peciulis from @ZeePrimeCap https://t.co/7wTcph8ySr ...

Business Performance - The domain name base reached 171.9 million at the end of Q3 2025, representing a year-over-year increase of 1.4%[11] - New .com/.net name registrations totaled 10.6 million in Q3 2025, a 14.3% increase compared to 9.3 million in Q3 2024[16] - The preliminary renewal rate was 75.3% compared to 75.5% in Q2 2025 and 72.2% in Q3 2024[16] - Q4 expiring names are projected to be 36.2 million versus 36.5 million in Q4 2024[16] Financial Highlights - Revenue for the quarter was $419 million, a 7.3% year-over-year increase[23] - Operating income was $284 million, a 5.6% year-over-year increase[23] - Earnings per share reached $2.27[23] - Free cash flow was $303 million for the quarter[20] - Share repurchases amounted to $215 million, representing 0.8 million shares[20] - Dividends paid totaled $72 million[20] Guidance - The company updated its full-year 2025 domain base growth guidance to +2.2% to +2.5% from a prior +1.2% to +2.0%[24] - The company updated its full-year 2025 revenue guidance to $1.652 billion to $1.657 billion from a prior $1.645 billion to $1.655 billion[24] - The company updated its full-year 2025 operating income guidance to $1.119 billion to $1.124 billion from a prior $1.117 billion to $1.127 billion[24]