# VeriSign Moat

Status: published. Policy: company-analysis-1.

VeriSign has a demonstrated contractual moat as the sole .com registry operator through November 30, 2030. Realized wholesale price increases alongside growing registrations and improving renewals support pricing power within regulatory limits. The supplied passages do not establish protection beyond that term or exceptional resilience to competing namespaces and alternative online identities, limiting the case for a wide moat.

## intangible_assets

The .com registry agreement grants exclusive operating rights through November 30, 2030. Registrars registering or renewing .com domains must use VeriSign's registry, supporting a current contractual advantage and constrained pricing power. The established registration base reinforces its economic relevance, although size alone does not prove network effects.

Durability: Contractual exclusivity is demonstrated through November 2030. The November 2024 renewal provides evidence of continuity, but the supplied passages do not establish subsequent renewal rights or guaranteed permanence.

Risks: ICANN restrictions limit pricing and commercial flexibility. Other TLDs and alternative online identities compete for demand. Promotional discounts can dilute headline pricing, while changing internet behavior can weaken the value of domain ownership. These are mostly disclosed risks rather than demonstrated current erosion; registrations and renewal trends improved through June 2026.

Invalidation: Loss or material weakening of exclusive .com operating rights would invalidate the contractual advantage. Sustained declines in registrations and renewals despite promotional spending, or price increases that reduce net customer receipts, would undermine its economic value and pricing-power assessment.

Competitors: Not established
- [https://www.sec.gov/Archives/edgar/data/1014473/000101447326000006/vrsn-20251231.htm](https://www.sec.gov/Archives/edgar/data/1014473/000101447326000006/vrsn-20251231.htm) · 2026-02-05
- [https://www.sec.gov/Archives/edgar/data/1014473/000101447326000028/vrsn-20260630.htm](https://www.sec.gov/Archives/edgar/data/1014473/000101447326000028/vrsn-20260630.htm) · 2026-07-23
- [https://www.sec.gov/Archives/edgar/data/1014473/000101447326000013/vrsn-20260409.htm](https://www.sec.gov/Archives/edgar/data/1014473/000101447326000013/vrsn-20260409.htm) · 2026-04-10

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