GoDaddy Inc. (NYSE: GDDY) today reported financial results for the first quarter that ended March 31, 2024. In after hours trading the stock is up. 126.00 +1.67 (1.34%)
Outlook going forward
For the second quarter ending June 30, 2024, GoDaddy expects total revenue in the range of $1.10 billion to $1.12 billion, representing year-over-year growth of 6% at the midpoint, versus the same period in 2023.
Business Highlights
- Total revenue of $1.1 billion, up 7% year-over-year on a reported and constant currency basis.
- Applications and Commerce (A&C) revenue grew 13%, year-over-year, to $383.1 million. Annualized recurring revenue (ARR) for A&C grew 13% year-over-year, to $1.5 billion.
- Core Platform (Core) revenue totaled $725.4 million, growing 4% year-over year. Core ARR grew 3% year-over-year, to $2.3 billion.
- Total bookings of $1.3 billion, up 9% year-over-year on a reported and constant currency basis.
- Net income of $401.5 million, inclusive of non-routine items, up 747% year-over-year, representing a 36% margin.
- Normalized EBITDA (NEBITDA) of $313.0 million, up 25% year-over-year, representing a 28% margin and exceeding the first quarter guidance of 27%.
- Net cash provided by operating activities of $297.2 million, up 10% year-over-year.
- Free cash flow of $327.4 million, up 26% year-over-year.
- The innovative GoDaddy Airo™ experience began rolling out to the existing 21 million customer base in March and is set to expand to more markets throughout the year.
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