Updated
The most significant concentration VeriSign discloses is .com and .net gTLD registries, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: VeriSign’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'Substantially all of our revenues are derived from our operation of the .com gTLD... as well as our operation of the .net gTLD under our .net Registry Agreement.'”
The company's only disclosed concentration is by product and regulatory mandate: substantially all revenues are derived from the operation of the.com and.net generic top-level domain registries — a high-share exposure by disclosed size, mixed in character. The mixed characterization reflects the dual nature of this dependency: it is structural in that the business model is purpose-built around these registry operations, but it also carries dependency elements because the agreements governing registry operations are subject to renewal and oversight by ICANN and the U.S. government, introducing counterparty and regulatory dimensions that a purely structural concentration would not. The.com registry in particular represents an extraordinarily deep integration with internet infrastructure — domain registrations are long-cycle and highly recurring, providing a durable revenue stream that is less sensitive to customer churn than most product-concentration profiles. However, the flip side is that there is essentially no revenue diversification: virtually all cash flow ultimately depends on the continuity of these registry agreements and the underlying demand for domain names. There is no disclosed customer, geographic, or supply-chain concentration layered alongside the product focus. On balance, the concentration profile is singular and high-share, but its structural and quasi-monopolistic character tempers the idiosyncratic risk that a pure dependency exposure would carry. The primary monitoring variables are ICANN contract renewal terms, pricing authority under the registry agreements, and long-term demand trends for.com and.net domain registrations.
For the engine’s reasoning on VRSN’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| APPN | Appian Corporation | 2 | 2 | 0 | 4 |
| AVPT | AvePoint, Inc. | 1 | 0 | 0 | 1 |
| VRSN● | VeriSign, Inc. | 1 | 0 | 0 | 1 |
| ATEN | A10 Networks, Inc. | 0 | 2 | 0 | 2 |
| ACIW | ACI Worldwide, Inc. | 0 | 0 | 0 | 0 |
| AKAM | Akamai Technologies, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.