GoDaddy reported Q1 2025 financial results

GoDaddy Inc. (NYSE: GDDY) reported financial results for the first quarter that ended March 31, 2025.

“GoDaddy’s strong first quarter results and reaffirmed 2025 outlook highlight the strength of our execution and the durability of the business model,” said GoDaddy CFO Mark McCaffrey. “GoDaddy completed its 2022 share repurchase program, retiring over 25% of our fully diluted shares, and launched a new $3 billion multi-year authorization through 2027, reinforcing our commitment to disciplined capital allocation and driving long-term shareholder value.”

“GoDaddy remains well-positioned for long-term success by driving tangible, measurable outcomes that help our customers grow and thrive in any macroeconomic landscape,” said GoDaddy CEO Aman Bhutani. “GoDaddy’s durable model is backed by strong fundamentals, and its resilient strategy continues to deliver for shareholders.”

First Quarter 2025 Business and Financial Highlights

• Total revenue of $1.2 billion, up 8% year-over-year on a reported and constant currency basis.
• Total bookings of $1.4 billion, up 8% year-over-year, and 9% on a constant currency basis.
• Applications and Commerce (A&C) revenue grew 17% year-over-year to $446.4 million.
• Core Platform (Core) revenue totaled $747.9 million, growing 3% year-over-year.
• Operating income of $247.3 million, up 40.6% year-over-year, representing a 21% margin.
• Net income of $219.5 million versus $401.5 million in the prior year. Net income in each period was inclusive of non-recurring, non-cash income tax benefits of $34.6 million and $267.4 million, respectively.
• Normalized EBITDA (NEBITDA) of $364.4 million, up 16% year-over-year, representing a 31% margin.
• Net cash provided by operating activities of $404.7 million, up 36% year-over-year.
• Free cash flow of $411.3 million, up 26% year-over-year.
• Expanded the reach of GoDaddy Airo^® to new on-ramps, including logos and email, and continued to enhance the premium features available in Airo Plus.
• Announced the launch of GoDaddy Agency, a new partner program connecting digital agencies with small and mid-sized business leads and providing access to comprehensive tools, services and support to grow their client offerings.

Consolidated First Quarter Financial Highlights

Share Repurchases

In April 2025, GoDaddy completed two accelerated share repurchase agreements, repurchasing a total of 4.4 million shares at an average price of $176.02 and fully utilizing the remaining $767.4 million under the 2022 $4.0 billion repurchase authorization. Cumulatively, GoDaddy has repurchased 43.7 million shares at an average price of $91.45, representing a gross reduction of over 25% in fully diluted shares from those outstanding at the January 2022 inception of the authorization.

Following successful execution of the 2022 authorization, GoDaddy’s board of directors authorized a new repurchase plan in April 2025 of up to $3.0 billion of our outstanding common stock through 2027.

Balance Sheet

As of March 31, 2025, total cash and cash equivalents were $719.4 million, total debt was $3.8 billion and net debt was $3.1 billion.

Business Outlook

For the second quarter ending June 30, 2025, GoDaddy expects total revenue in the range of $1.195 billion to $1.215 billion, representing year-over-year growth of 7% at the midpoint versus the same period in 2024. For the full year ending December 31, 2025, GoDaddy reaffirms its guidance, expecting revenue in the range of $4.860 billion to $4.940 billion, representing year-over-year growth of 7% at the midpoint, versus the $4.573 billion of revenue generated for the full year ended December 31, 2024. Within total revenue, GoDaddy expects second quarter and full year A&C revenue growth in the mid-teens and Core revenue growth in the low single digits.

For the second quarter ending June 30, 2025, GoDaddy expects NEBITDA margin to be approximately 31%. For the full year ending December 31, 2025, GoDaddy expects NEBITDA margin expansion of approximately 100 basis points.

For the full year ending December 31, 2025, GoDaddy expects free cash flow of at least $1.5 billion, versus the $1.4 billion of free cash flow generated in 2024.

GoDaddy’s consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States (GAAP). GoDaddy does not provide reconciliations of forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP equivalents, because projections of changes in individual balance sheet amounts are not possible without unreasonable effort, and presentation of such reconciliations would imply an inappropriate degree of precision. For non-forward-looking non-GAAP measures, a reconciliation to the nearest GAAP equivalent is included in this press release following the financial statements.