GoDaddy Q1 2015 Report: $376.3 Million Revenue, $199.2 Million Domains Revenue, Up 10.4%

godaddyGoDaddy Inc. (NYSE: GDDY), reported financial results for the first quarter ended March 31, 2015.

“Our investments in products, technology platform, and customer care are making a real difference for our customers around the world, and our first quarter results demonstrate the benefits of focusing on their needs. Continued strong growth in customers and ARPU drove both our first quarter revenue and EBITDA up nearly 18%,” said Blake Irving, GoDaddy chief executive officer.

First Quarter Financial Highlights:

  • Revenue of $376.3 million, up 17.5% year over year.
  • Total Bookings of $498.7 million, up 13.7% year over year.
  • Adjusted EBITDA of $93.9 million, up 17.8% year over year.
  • Unlevered free cash flow of $85.1 million, an increase of 70.7% year over year.
  • Customers were 13.1 million at quarter end, up 9.3% year over year.
  • Annual ARPU of $115, up 9.6% year over year.
Three Months Ended   March 31, Y/Y
in millions, except ARPU 2015 2014 Change
GAAP Results
Revenue $ 376.3 $ 320.2 17.5 %
Net loss $ (43.4) $ (51.3) NM
Net cash provided by operating activities $ 72.1 $ 42.5 69.8 %
Non-GAAP Results
Total Bookings $ 498.7 $ 438.5 13.7 %
Adjusted EBITDA $ 93.9 $ 79.7 17.8 %
Unlevered Free Cash Flow $ 85.1 $ 49.9 70.7 %
Customers (at quarter end) 13.1 11.9 9.3 %
ARPU (Average revenue per user) $ 115 $ 105 9.6 %

First Quarter Operating Highlights

  • Domains revenue of $199.2 million, up 10.4% year over year. (53% of total revenue)
  • Hosting and Presence revenue of $140.2 million, up 21.2% year over year.
  • Business Applications revenue of $36.9 million, up 53.3% year over year.
  • International revenue of $95.9 million, up 23.4% year over year.
  • GoDaddy priced the initial public offering of 23 million shares of its Class A common stock at $20 per share and began trading on the New York Stock Exchange on April 1 under the symbol “GDDY.” The underwriters of the offering subsequently exercised an over-allotment option to purchase an additional 3 million shares.
  • GoDaddy launched GoDaddy Email Marketing (GEM), building on its 2014 acquisition of Mad Mimi, to provide customers with simple and effective email marketing.
  • In April, GoDaddy acquired the domain name portfolio business of Marchex, including approximately 200,000 domain names, to increase inventory and liquidity in the domain secondary market.
  • Last week, GoDaddy launched GoDaddy Pro into general availability, providing web designers and developers with a new suite of products and support to help them build and manage websites for their clients.

Balance Sheet

At March 31, 2015, total cash and cash equivalents and short-term investments were $197.9 million, total long-term debt, including current portion, was $1,418.0 million, gross debt was $1,466.8 million and net debt was $1,268.9 million. Assuming the completion of our initial public offering and the use of proceeds from such offering occurred on March 31, 2015, total cash and cash equivalents and short-term investments would have been $234.3 million and net debt would have been $850.5 million.

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About Konstantinos Zournas

Konstantinos studied Computer Engineering and Computer Science in London and lives in Athens, Greece. He works on domain names, websites and software development. Has been online since 1995 & domaining since 2002.

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