GoDaddy reports 2019 results (revenue up 12.2%)

GoDaddy Inc. (NYSE: GDDY) reported financial results for the fourth quarter and year ended December 31, 2019.

Total revenue of $780.4 million, up 12.2% year over year. Domains revenue of $352.3 million, up 12.1% year over year.

GoDaddy also said that “GoDaddy announced the acquisition of Uniregistry’s leading domain registrar and marketplace businesses as well as their domain portfolio, reinforcing the company’s commitment to domain investors.”

“GoDaddy continues to execute against its strategy – empowering everyday entrepreneurs through sage guidance, seamlessly intuitive experiences, and activating our community,” said GoDaddy CEO Aman Bhutani. “We are well positioned to deliver strong results for our customers, communities, and shareholders in 2020.”

“We are pleased that we were able to land 2019 financial performance right where we said we would. As we look to 2020, we have provided guidance that reflects the ongoing strength of our business,” said GoDaddy CFO Ray Winborne.

Consolidated Fourth Quarter Financial Highlights(1)

Three Months Ended
December 31,

Year Ended
December 31,

2019

2018

Change

2019

2018

Change

(in millions, except customers in thousands and ARPU)

GAAP Results

Revenue

$

780.4

$

695.8

12.2%

$

2,988.1

$

2,660.1

12.3%

Net cash provided by operating activities(2)

$

162.2

$

128.5

26.2%

$

723.4

$

559.8

29.2%

Non-GAAP Results

Unlevered Free Cash Flow

$

177.7

$

126.8

40.1%

$

735.6

$

619.5

18.7%

Operating Metrics

Total bookings

$

833.6

$

732.4

13.8%

$

3,401.2

$

3,011.5

12.9%

Total customers at period end

19,274

18,518

4.1%

19,274

18,518

4.1%

ARPU

$

158

$

148

6.6%

$

158

$

148

6.6%

(1)

See reconciliation tables for a detailed listing of certain items included in our consolidated statements of operations.

(2)

cash provided by operating activities in the year ended December 31, 2018 includes cash tax payments made in connection with the gain on the August 2017 sale of PlusServer.

  • Total revenue of $780.4 million, up 12.2% year over year, or 13.0% on a constant currency basis.
  • Total bookings of $833.6 million, up 13.8% year over year, or 14.1% on a constant currency basis.
  • Net cash provided by operating activities of $162.2 million, up 26.2% year over year.
  • Unlevered free cash flow of $177.7 million, up 40.1% year over year.
  • Customers of 19.3 million at December 31, 2019, up 4.1% year over year.
  • Average revenue per user (ARPU) of $158, up 6.6% year over year.
  • Domains revenue of $352.3 million, up 12.1% year over year.
  • Hosting and Presence revenue of $292.8 million, up 8.4% year over year.
  • Business Applications revenue of $135.3 million, up 21.3% year over year.
  • International revenue of $261.4 million, up 8.8% year over year, or 11.2% on a constant currency basis.

Business Highlights

  • Websites + Marketing, GoDaddy’s website and marketing suite, launched integrations with Google Shopping and the Facebook Developer Platform, enabling service commerce bookings in Facebook and Instagram.
  • Websites + Marketing introduced inventory import capabilities, enabling online commerce customers to easily import inventory data from popular marketplaces into a newly created website.
  • GoDaddy launched the Go theme for WordPress, bringing proprietary technology for ease of use and design to the WordPress community. Go has quickly become one of the fastest growing themes in the WordPress ecosystem, continuing GoDaddy’s trajectory of leading the way in what WordPress can accomplish.
  • GoDaddy acquired Over, a multifaceted content creation tool for small businesses and entrepreneurs, equipping anyone and everyone to grow a brand and stand out in an increasingly crowded world.
  • GoDaddy announced the acquisition of Uniregistry’s leading domain registrar and marketplace businesses as well as their domain portfolio, reinforcing the company’s commitment to domain investors.
  • GoDaddy’s influencer driven brand and creative strategy, which are tightly linked to the day-to-day experiences of its customers, are seeing strong performance in brand affinity, impressions, and social buzz, all of which now substantially outpace the competitive environment.
  • In January, GoDaddy launched its new logo, the “Go”, a joyful reflection of how GoDaddy brings together humanity and technology to serve everyday entrepreneurs from all walks of life, backgrounds and cultures.
  • The Human Rights Campaign’s 2020 Corporate Equality Index awarded GoDaddy with a perfect score for the second year in a row.
  • GoDaddy appointed Leah Sweet to its board of directors. Ms. Sweet, Senior Vice President at PayPal, brings deep, customer-focused product strategy experience and leadership to the board.
  • GoDaddy announced it will host an Investor Day on April 2, 2020 at the New York Stock Exchange in New York City, New York. Interested shareholders and analysts are encouraged to email investors@godaddy.com for an invitation.

Balance Sheet

At December 31, 2019, total cash and cash equivalents and short-term investments were $1,086.4 million, total debt was $2,432.3 million and net debt was $1,345.9 million.

Sold.Domains

About Konstantinos Zournas

I studied Computer Engineering and Computer Science in London, UK and now live in Athens, Greece. I love domains and building websites. I am online since 1995, learned about HTML in 1996 and about domains in 2002. I started publishing the OnlineDomain.com blog in 2012.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.