GoDaddy reports Q3 2024 results

GoDaddy Inc. (NYSE: GDDY) today reported financial results for the third quarter that ended September 30, 2024.

“GoDaddy delivered a solid third quarter, with continued progress on our key initiatives,” said GoDaddy CEO Aman Bhutani. “We are committed to empowering entrepreneurs worldwide with innovative solutions and look forward to sharing the enhanced capabilities of the GoDaddy Airo experience at our Investor Dinner in December.”

“Our third quarter results demonstrated continued progress delivering durable top-line growth, expanded profitability and strong cash generation,” said GoDaddy CFO Mark McCaffrey. “Our execution, combined with our strong balance sheet and disciplined capital allocation framework, powers our ability to create enduring value for our shareholders.”

Third Quarter 2024 Business and Financial Highlights

• Total revenue of $1.15 billion, up 7% year-over-year on a reported and constant currency basis.
• Applications and Commerce (A&C) revenue grew 16%, year-over-year, to $423.1 million. Annualized recurring revenue (ARR) for A&C grew 15% year-over-year, to $1.6 billion.
• Core Platform (Core) revenue totaled $724.5 million, growing 3% year-over-year. Core ARR grew 4% year-over-year, to $2.4 billion.
• Total bookings of $1.2 billion, up 9% year-over-year on a reported and constant currency basis.
• Net income of $190.5 million, up 45% year-over-year, representing a 17% margin.
• Normalized EBITDA (NEBITDA) of $366.5 million, up 24% year-over-year, representing a 32% margin.
• Net cash provided by operating activities of $355.2 million, up 26% year-over-year.
• Free cash flow of $362.7 million, up 29% year-over-year.
• The company continued rolling out its innovative GoDaddy Airo™ AI-powered experience, now available in over 180 countries globally. Discovery and engagement continue to build positive momentum as we focus on optimizing monetization pathways.