Financial Performance - GoDaddy's Q2 2024 revenue reached $1.124 billion, a 7% increase compared to $1.048 billion in Q2 2023[48] - Applications & Commerce (A&C) revenue grew by 15% to $406 million in Q2 2024, up from $352 million in Q2 2023[32, 60] - Core Platform revenue increased by 3% to $719 million in Q2 2024, compared to $696 million in Q2 2023[32, 60] - Free cash flow increased by 35% to $323 million in Q2 2024, compared to $240 million in Q2 2023[48] - Normalized EBITDA grew by 25% to $332 million in Q2 2024, up from $265 million in Q2 2023, with a margin expansion of 400 bps+ to 29%[12, 48, 60] Strategic Initiatives and Growth - A&C Annual Recurring Revenue (ARR) increased by 14% to $1.5 billion[37] - Core Platform ARR increased by 2% to $2.3 billion[40] - GoDaddy Airo has reached over 1 million new customers, with over 500,000 engaged in the experience since launch and is poised to launch in over 90 additional countries[15] Capital Allocation - GoDaddy has completed $3.1 billion in share buybacks under current authorizations, repurchasing 38.3 million shares, resulting in a 23% reduction of shares outstanding since January 2022[52, 53] - The company has $0.9 billion remaining for future share repurchases[53] Outlook - GoDaddy projects revenue between $1.13 billion and $1.15 billion for Q3 2024 and between $4.525 billion and $4.565 billion for the full year 2024[58] - The company anticipates mid-teens growth for Applications & Commerce and low single-digit growth for Core Platform in both Q3 2024 and full year 2024[58] - GoDaddy expects a Normalized EBITDA margin of approximately 29% for Q3 2024 and full year 2024, and unlevered free cash flow of $1.45 billion+ and free cash flow of $1.3 billion+[58]

For the quarter ended June 2024, GoDaddy (GDDY) reported revenue of $1.12 billion, up 7.3% over the same period last year. EPS came in at $1.10, compared to $0.63 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.11 billion, representing a surprise of +0.97%. The company delivered an EPS surprise of +2.80%, with the consensus EPS estimate being $1.07.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectat ...

Company Performance - GoDaddy reported quarterly earnings of $1.10 per share, exceeding the Zacks Consensus Estimate of $1.07 per share, and up from $0.63 per share a year ago, representing an earnings surprise of 2.80% [1] - The company posted revenues of $1.12 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.97%, and an increase from $1.05 billion year-over-year [1] - Over the last four quarters, GoDaddy has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [1] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.24 on revenues of $1.14 billion, and for the current fiscal year, it is $6.49 on revenues of $4.53 billion [4] - The estimate revisions trend for GoDaddy is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Internet - Delivery Services industry, to which GoDaddy belongs, is currently in the bottom 27% of over 250 Zacks industries, suggesting potential challenges ahead [5] - QuinStreet, another company in the same industry, is expected to report quarterly earnings of $0.11 per share, reflecting a year-over-year change of +1200%, with revenues anticipated to be $187.76 million, up 44.1% from the previous year [5][6]

[Note About Forward-Looking Statements](index=3&type=section&id=Note%20About%20Forward-Looking%20Statements) This section cautions that forward-looking statements involve substantial risks and uncertainties, potentially causing actual results to differ materially - Forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from projections[9](index=9&type=chunk) - Key areas of uncertainty include the ability to add and retain customers, develop new solutions (especially with AI), maintain brand strength, manage service interruptions and security breaches, and ensure future financial performance[10](index=10&type=chunk) - The company operates in competitive and rapidly-changing environments, making it impossible to predict all risks or assess the full impact of factors on actual results[14](index=14&type=chunk) [PART I. FINANCIAL INFORMATION](index=6&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents unaudited consolidated financial statements, including balance sheets, income, equity, and cash flows, with accounting notes [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheets | Metric | June 30, 2024 (Millions) | December 31, 2023 (Millions) | Change (Millions) | % Change | |:---|:---|:---|:---|:---| | Total Assets | $7,721.9 | $7,564.9 | $157.0 | 2.08% | | Total Current Assets | $1,297.2 | $1,255.9 | $41.3 | 3.29% | | Cash and Cash Equivalents | $444.9 | $458.8 | $(13.9) | -3.03% | | Deferred Tax Assets | $1,234.0 | $1,020.4 | $213.6 | 20.93% | | Total Liabilities | $7,607.9 | $7,502.7 | $105.2 | 1.40% | | Total Current Liabilities | $2,707.2 | $2,683.1 | $24.1 | 0.90% | | Deferred Revenue (Current) | $2,230.4 | $2,074.9 | $155.5 | 7.50% | | Total Stockholders' Equity | $157.0 | $62.2 | $94.8 | 152.41% | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Consolidated Statements of Operations | Metric | Three Months Ended June 30, 2024 (Millions) | Three Months Ended June 30, 2023 (Millions) | Change (Millions) | % Change | |:---|:---|:---|:---|:---| | Total Revenue | $1,124.5 | $1,048.1 | $76.4 | 7.29% | | Applications and Commerce Revenue | $405.6 | $351.7 | $53.9 | 15.33% | | Core Platform Revenue | $718.9 | $696.4 | $22.5 | 3.23% | | Operating Income | $208.2 | $119.6 | $88.6 | 74.08% | | Net Income Attributable to GoDaddy Inc. | $146.3 | $82.9 | $63.4 | 76.48% | | Basic EPS | $1.04 | $0.54 | $0.50 | 92.59% | | Diluted EPS | $1.01 | $0.54 | $0.47 | 87.04% | | Metric | Six Months Ended June 30, 2024 (Millions) | Six Months Ended June 30, 2023 (Millions) | Change (Millions) | % Change | |:---|:---|:---|:---|:---| | Total Revenue | $2,233.0 | $2,084.1 | $148.9 | 7.14% | | Applications and Commerce Revenue | $788.7 | $689.7 | $99.0 | 14.35% | | Core Platform Revenue | $1,444.3 | $1,394.4 | $49.9 | 3.58% | | Operating Income | $384.1 | $190.4 | $193.7 | 101.73% | | Net Income Attributable to GoDaddy Inc. | $547.8 | $130.2 | $417.6 | 320.74% | | Basic EPS | $3.86 | $0.85 | $3.01 | 354.12% | | Diluted EPS | $3.77 | $0.84 | $2.93 | 348.81% | - Equity-based compensation expense for the three months ended June 30, 2024, was **$76.2 million**, a slight decrease from $77.5 million in the prior year period. For the six months, it decreased from $151.4 million to **$148.0 million**[22](index=22&type=chunk) [Consolidated Statements of Comprehensive Income](index=8&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Consolidated Statements of Comprehensive Income | Metric | Three Months Ended June 30, 2024 (Millions) | Three Months Ended June 30, 2023 (Millions) | Change (Millions) | % Change | |:---|:---|:---|:---|:---|\n| Net Income | $146.3 | $83.1 | $63.2 | 76.05% | | Comprehensive Income Attributable to GoDaddy Inc. | $147.1 | $104.7 | $42.4 | 40.49% | | Metric | Six Months Ended June 30, 2024 (Millions) | Six Months Ended June 30, 2023 (Millions) | Change (Millions) | % Change | |:---|:---|:---|:---|:---| | Net Income | $547.8 | $130.5 | $417.3 | 319.77% | | Comprehensive Income Attributable to GoDaddy Inc. | $572.2 | $114.5 | $457.7 | 399.74% | [Consolidated Statements of Stockholders' Equity (Deficit)](index=9&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity%20(Deficit)) - Total stockholders' equity increased from **$62.2 million** at December 31, 2023, to **$157.0 million** at June 30, 2024[27](index=27&type=chunk) - Repurchases of Class A common stock amounted to **$(502.8) million** for the three months ended June 30, 2024, and **$(147.1) million** for the three months ended March 31, 2024, impacting accumulated deficit[27](index=27&type=chunk) - Net income attributable to GoDaddy Inc. was **$146.3 million** for the three months ended June 30, 2024, and **$401.5 million** for the three months ended March 31, 2024[27](index=27&type=chunk) [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Activity | Cash Flow Activity | Six Months Ended June 30, 2024 (Millions) | Six Months Ended June 30, 2023 (Millions) | Change (Millions) | % Change | |:---|:---|:---|:---|:---| | Net Cash Provided by Operating Activities | $592.0 | $468.3 | $123.7 | 26.41% | | Net Cash Provided by (Used in) Investing Activities | $40.9 | $(52.0) | $92.9 | 178.65% | | Net Cash Used in Financing Activities | $(646.2) | $(608.3) | $(37.9) | 6.23% | | Net Decrease in Cash and Cash Equivalents | $(13.9) | $(191.4) | $177.5 | -92.74% | [Notes to Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) [Note 1. Organization and Background](index=13&type=section&id=Note%201.%20Organization%20and%20Background) - GoDaddy Inc. is the sole managing member of Desert Newco, LLC, and consolidates its financial results. As of June 30, 2024, GoDaddy Inc. owned **100%** of Desert Newco[37](index=37&type=chunk) - The DNC Restructure, completed on December 11, 2023, simplified the capital structure, converting all non-GoDaddy Inc. held Desert Newco units into Class A common stock. Effective January 1, 2024, Desert Newco became a disregarded entity for U.S. income tax purposes, treating GoDaddy Inc. as a consolidated C corporation group[38](index=38&type=chunk) [Note 2. Summary of Significant Accounting Policies](index=14&type=section&id=Note%202.%20Summary%20of%20Significant%20Accounting%20Policies) - The company reports operating results through two segments: Applications and Commerce (A&C) and Core Platform (Core)[44](index=44&type=chunk) Revenue Type | Revenue Type | Three Months Ended June 30, 2024 (Millions) | Three Months Ended June 30, 2023 (Millions) | Six Months Ended June 30, 2024 (Millions) | Six Months Ended June 30, 2023 (Millions) | |:---|:---|:---|:---|:---| | A&C | $405.6 | $351.7 | $788.7 | $689.7 | | Core: Domains | $529.2 | $492.7 | $1,061.2 | $984.8 | | Core: Other | $189.7 | $203.7 | $383.1 | $409.6 | | **Total Revenue** | **$1,124.5** | **$1,048.1** | **$2,233.0** | **$2,084.1** | Geography | Geography | Three Months Ended June 30, 2024 (Millions) | Three Months Ended June 30, 2023 (Millions) | Six Months Ended June 30, 2024 (Millions) | Six Months Ended June 30, 2023 (Millions) | |:---|:---|:---|:---|:---| | U.S. | $767.4 | $707.0 | $1,523.0 | $1,402.4 | | International | $357.1 | $341.1 | $710.0 | $681.7 | | **Total Revenue** | **$1,124.5** | **$1,048.1** | **$2,233.0** | **$2,084.1** | - Amortization expense for prepaid domain name registry fees was **$195.8 million** for Q2 2024 (vs. $192.1 million in Q2 2023) and **$389.6 million** for H1 2024 (vs. $377.2 million in H1 2023)[50](index=50&type=chunk) - The company holds certain assets measured at fair value on a recurring basis, including notice deposits (**$50.0 million**) and commercial paper (**$29.9 million**) as of June 30, 2024, classified within Level 1 and Level 2 respectively. Derivative assets totaled **$149.4 million**[54](index=54&type=chunk) [Note 3. Goodwill and Intangible Assets](index=16&type=section&id=Note%203.%20Goodwill%20and%20Intangible%20Assets) Goodwill by Segment | Segment | December 31, 2023 (Millions) | Impact of Foreign Currency Translation (Millions) | Goodwill Related to Disposition (Millions) | June 30, 2024 (Millions) | |:---|:---|:---|:---|:---| | A&C | $1,513.6 | $(9.5) | — | $1,504.1 | | Core | $2,055.7 | $(13.1) | $(1.7) | $2,040.9 | | **Total** | **$3,569.3** | **$(22.6)** | **$(1.7)** | **$3,545.0** | Intangible Assets | Intangible Asset Type | Gross Carrying Amount (Millions) | Accumulated Amortization (Millions) | Net Carrying Amount (Millions) | |:---|:---|:---|:---| | **Indefinite-lived:** | | | | | Trade names and branding | $445.0 | n/a | $445.0 | | Domain portfolio | $231.8 | n/a | $231.8 | | Contractual-based assets | $292.7 | n/a | $292.7 | | **Finite-lived:** | | | | | Customer-related | $402.5 | $(325.3) | $77.2 | | Developed technology | $237.1 | $(207.4) | $29.7 | | Trade names and other | $95.0 | $(64.1) | $30.9 | | **Total** | **$1,704.1** | **$(596.8)** | **$1,107.3** | - Amortization expense for intangible assets was **$19.2 million** for Q2 2024 (vs. $26.1 million in Q2 2023) and **$39.7 million** for H1 2024 (vs. $58.8 million in H1 2023). The weighted-average remaining amortization period for amortizable intangible assets was **25 months** in total as of June 30, 2024[58](index=58&type=chunk) [Note 4. Stockholders' Equity](index=18&type=section&id=Note%204.%20Stockholders'%20Equity) - The board of directors authorized a share repurchase program of up to **$4,000.0 million**. As of June 30, 2024, **$1,031.3 million** remained available for repurchases[60](index=60&type=chunk) - During the six months ended June 30, 2024, the company repurchased **3,303 thousand shares** of Class A common stock for an aggregate purchase price of **$404.2 million**[60](index=60&type=chunk) - During Q2 2024, the company entered into Accelerated Share Repurchase (ASR) agreements for an upfront payment of **$245.0 million**, with shares to be delivered in Q3 2024[61](index=61&type=chunk) [Note 5. Prepaid Expenses and Other Current Assets](index=18&type=section&id=Note%205.%20Prepaid%20Expenses%20and%20Other%20Current%20Assets) Prepaid Expenses and Other Current Assets | Component | June 30, 2024 (Millions) | December 31, 2023 (Millions) | |:---|:---|:---| | Derivative assets | $149.4 | $128.6 | | Prepaid software and maintenance expenses | $49.2 | $23.0 | | Other | $39.5 | $25.6 | | **Total** | **$238.1** | **$177.2** | [Note 6. Equity-Based Compensation Plans](index=18&type=section&id=Note%206.%20Equity-Based%20Compensation%20Plans) - Stockholders approved the 2024 Omnibus Incentive Plan (**9,085 thousand shares** reserved) and the 2024 Employee Stock Purchase Plan (**4,605 thousand shares** reserved) at the Annual Meeting on June 6, 2024[63](index=63&type=chunk)[64](index=64&type=chunk) Stock Option Activity | Stock Option Activity | Number of Shares of Class A Common Stock () | Weighted Average Exercise Price Per Share ($) | |:---|:---|:---| | Outstanding at December 31, 2023 | 845 | 49.60 | | Exercised | (126) | 30.71 | | Outstanding at June 30, 2024 | 719 | 52.92 | | Vested at June 30, 2024 | 719 | 52.92 | - Total unrecognized compensation expense related to non-vested equity grants was **$483.8 million** as of June 30, 2024, with an expected remaining weighted-average recognition period of **2.1 years**[66](index=66&type=chunk) [Note 7. Deferred Revenue](index=20&type=section&id=Note%207.%20Deferred%20Revenue) Deferred Revenue by Type | Deferred Revenue Type | June 30, 2024 (Millions) | December 31, 2023 (Millions) | |:---|:---|:---| | **Current:** | | | | A&C | $776.6 | $683.8 | | Core | $1,453.8 | $1,391.1 | | **Total Current** | **$2,230.4** | **$2,074.9** | | **Noncurrent:** | | | | A&C | $194.5 | $173.5 | | Core | $671.6 | $628.9 | | **Total Noncurrent** | **$866.1** | **$802.4** | | **Grand Total** | **$3,096.5** | **$2,877.3** | - The increase in deferred revenue was primarily driven by payments received in advance of satisfying performance obligations, offset by **$616.1 million** (Q2 2024) and **$1,426.4 million** (H1 2024) of revenue recognized from deferred revenue as of December 31, 2023[68](index=68&type=chunk) Deferred Revenue by Segment and Expected Recognition Period | Segment | Remainder of 2024 (Millions) | 2025 (Millions) | 2026 (Millions) | 2027 (Millions) | 2028 (Millions) | Thereafter (Millions) | Total (Millions) | |:---|:---|:---|:---|:---|:---|:---|:---| | A&C | $544.1 | $312.5 | $85.5 | $19.5 | $5.8 | $3.7 | $971.1 | | Core | $963.5 | $712.7 | $230.1 | $96.7 | $52.1 | $70.3 | $2,125.4 | | **Total** | **$1,507.6** | **$1,025.2** | **$315.6** | **$116.2** | **$57.9** | **$74.0** | **$3,096.5** | [Note 8. Accrued Expenses and Other Current Liabilities](index=21&type=section&id=Note%208.%20Accrued%20Expenses%20and%20Other%20Current%20Liabilities) Accrued Expenses and Other Current Liabilities | Component | June 30, 2024 (Millions) | December 31, 2023 (Millions) | |:---|:---|:---| | Accrued payroll and employee benefits | $106.8 | $143.6 | | Tax-related accruals | $62.3 | $56.2 | | Current portion of operating lease liabilities | $31.1 | $29.1 | | Accrued legal and professional | $27.0 | $34.2 | | Accrued marketing and advertising | $19.0 | $12.3 | | Accrued interest | $13.5 | $13.6 | | Accrued restructuring costs | $6.5 | $7.4 | | Accrued acquisition-related expenses | $6.3 | $20.6 | | Derivative liabilities | $3.6 | $46.4 | | Other | $89.0 | $78.8 | | **Total** | **$365.1** | **$442.2** | [Note 9. Long-Term Debt](index=21&type=section&id=Note%209.%20Long-Term%20Debt) Long-Term Debt | Debt Instrument | Maturity Date | June 30, 2024 (Millions) | December 31, 2023 (Millions) | |:---|:---|:---|:---| | 2029 Term Loans | November 10, 2029 | $1,466.2 | $1,752.3 | | 2031 Term Loans | May 31, 2031 | $1,000.0 | — | | 2027 Term Loans | August 10, 2027 | — | $723.8 | | 2027 Senior Notes | December 1, 2027 | $600.0 | $600.0 | | 2029 Senior Notes | March 1, 2029 | $800.0 | $800.0 | | **Total Long-Term Debt** | | **$3,866.2** | **$3,876.1** | | Less: Unamortized original issue discount and debt issuance costs | | $(61.5) | $(59.7) | | Less: Current portion of long-term debt | | $(17.0) | $(17.9) | | **Long-Term Debt, Net of Current Portion** | | **$3,787.7** | **$3,798.5** | - In January 2024, the company refinanced existing term loans with new 2029 Term Loans. In May 2024, new 2031 Term Loans were issued to refinance and extend the maturity of 2027 Term Loans and repay a portion of 2029 Term Loans[72](index=72&type=chunk)[73](index=73&type=chunk) - As of June 30, 2024, **$998.7 million** was available for borrowing under the Revolver, and the company was in compliance with all debt covenants[74](index=74&type=chunk)[75](index=75&type=chunk) [Note 10. Derivatives and Hedging](index=23&type=section&id=Note%2010.%20Derivatives%20and%20Hedging) - The company uses foreign exchange forward contracts, cross-currency swaps, and interest rate swaps as cash flow hedges and cross-currency swaps as net investment hedges to mitigate foreign currency and interest rate risks[78](index=78&type=chunk)[80](index=80&type=chunk) Derivative Instruments | Derivative Type | Notional Amount (June 30, 2024, Millions) | Fair Value Asset (June 30, 2024, Millions) | Fair Value Liability (June 30, 2024, Millions) | |:---|:---|:---|:---| | Foreign exchange forward contracts | $718.2 | $3.9 | $3.6 | | Cross-currency swaps (cash flow hedges) | $541.4 | $1.0 | — | | Interest rate swaps | $1,949.4 | $143.2 | — | | Cross-currency swaps (net investment hedges) | $694.0 | $1.3 | — | | **Total Hedges** | **$3,903.0** | **$149.4** | **$3.6** | - As of June 30, 2024, an estimated **$96.9 million** of net deferred gains related to designated hedges are expected to be recognized in earnings over the next 12 months[83](index=83&type=chunk) [Note 11. Leases](index=25&type=section&id=Note%2011.%20Leases) - Operating leases primarily consist of office and data center space, with a remaining weighted-average lease term of **6.3 years** and a weighted-average discount rate of **5.5%** as of June 30, 2024[89](index=89&type=chunk) Lease Cost Components | Lease Cost Component | Three Months Ended June 30, 2024 (Millions) | Three Months Ended June 30, 2023 (Millions) | Six Months Ended June 30, 2024 (Millions) | Six Months Ended June 30, 2023 (Millions) | |:---|:---|:---|:---|:---| | Operating lease costs | $6.9 | $9.6 | $14.5 | $19.4 | | Variable lease costs | $3.0 | $3.8 | $6.7 | $7.6 | | Sublease income | $(1.8) | $(2.2) | $(4.7) | $(4.5) | | **Total Net Lease Cost** | **$8.1** | **$11.2** | **$16.5** | **$22.5** | - During the six months ended June 30, 2024, **$6.0 million** of expense was recognized related to the abandonment of certain operating leases, included in restructuring and other charges[90](index=90&type=chunk) [Note 12. Commitments and Contingencies](index=26&type=section&id=Note%2012.%20Commitments%20and%20Contingencies) - No material changes to legal proceedings or contractual obligations from the 2023 Form 10-K[91](index=91&type=chunk)[92](index=92&type=chunk) - Accrual for estimated indirect tax liabilities was **$25.7 million** as of June 30, 2024, up from $23.6 million at December 31, 2023, reflecting the best estimate of probable liability[94](index=94&type=chunk) [Note 13. Restructuring and Other Charges and Disposition of Businesses and Related Assets](index=26&type=section&id=Note%2013.%20Restructuring%20and%20Other%20Charges%20and%20Disposition%20of%20Businesses%20and%20Related%20Assets) - During H1 2024, the company implemented restructuring activities, including a reduction in force impacting

[Q2 2024 Performance Highlights](index=1&type=section&id=Second%20Quarter%202024%20Business%20Highlights) GoDaddy exceeded Q2 2024 revenue and margin guidance, driven by strong Applications and Commerce growth and AI initiatives Q2 2024 Key Financial Metrics | Metric | Q2 2024 | YoY Change | | :--- | :--- | :--- | | Total Revenue | $1.1 billion | +7% | | Net Income | $146.3 million | +76% | | Normalized EBITDA (NEBITDA) | $331.7 million | +25% | | Free Cash Flow | $323.4 million | +35% | | Total Bookings | $1.3 billion | +11% | Q2 2024 Revenue by Segment | Segment | Revenue | YoY Change | | :--- | :--- | :--- | | Applications and Commerce (A&C) | $405.6 million | +15% | | Core Platform (Core) | $718.9 million | +3% | - The company is expanding its AI-powered experience, **GoDaddy Airo™**, which is now available with all new and existing domain purchases in English-speaking markets, with plans to expand to over 90 additional countries[3](index=3&type=chunk)[5](index=5&type=chunk) - Launched the **GoDaddy Digital Marketing suite**, a new platform offering personalized marketing tools and content to help customers build their brand and generate leads, even without a website[5](index=5&type=chunk) [Capital Management & Balance Sheet](index=2&type=section&id=Share%20Repurchases) GoDaddy continued capital return via share repurchases and refinanced debt, extending maturity and reducing interest expense - Year-to-date through July 30, 2024, GoDaddy repurchased **4.1 million shares** for **$520.8 million**, reducing fully diluted shares by approximately **23%** since the program's inception in January 2022[7](index=7&type=chunk) - In May 2024, the company amended its credit agreement, refinancing debt to extend maturity to 2031 and securing a **25 basis point interest rate reduction** This is expected to lower annual cash interest expense by about **$25.0 million**[9](index=9&type=chunk) Balance Sheet Summary (as of June 30, 2024) | Item | Amount (in millions) | | :--- | :--- | | Cash and cash equivalents | $444.9 | | Total debt | $3,900.0 | | Net debt | $3,400.0 | [Business Outlook](index=3&type=section&id=Business%20Outlook) GoDaddy raised full-year 2024 guidance for revenue, NEBITDA, and free cash flow, signaling strong future performance Q3 2024 Guidance | Metric | Guidance Range/Target | | :--- | :--- | | Total Revenue | $1.13B - $1.15B (+7% YoY at midpoint) | | NEBITDA Margin | ~29% | Full Year 2024 Raised Guidance | Metric | Guidance Range/Target | | :--- | :--- | | Total Revenue | $4.525B - $4.565B (+7% YoY at midpoint) | | NEBITDA Margin | ~29% | | Unlevered Free Cash Flow | At least $1.45B (+16% YoY) | | Free Cash Flow | At least $1.3B (+20% YoY) | [Consolidated Financial Statements (Unaudited)](index=7&type=section&id=Consolidated%20Financial%20Statements) GoDaddy's unaudited financial statements detail strong operational performance, a stable balance sheet, and robust cash generation [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations%20(unaudited)) Q2 2024 saw significant increases in total revenue, operating income, and net income, driven by strong top-line growth and expense management Q2 2024 vs Q2 2023 Statement of Operations (in millions) | Line Item | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Total Revenue | $1,124.5 | $1,048.1 | | Operating Income | $208.2 | $119.6 | | Net Income | $146.3 | $83.1 | | Diluted EPS | $1.01 | $0.54 | [Consolidated Balance Sheets](index=8&type=section&id=Consolidated%20Balance%20Sheets%20(unaudited)) As of June 30, 2024, GoDaddy's balance sheet shows a slight increase in total assets and stockholders' equity, maintaining a stable financial position Balance Sheet Comparison (in millions) | Account | June 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total Assets | $7,721.9 | $7,564.9 | | Cash and cash equivalents | $444.9 | $458.8 | | Total Liabilities | $7,564.9 | $7,502.7 | | Total stockholders' equity | $157.0 | $62.2 | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20(unaudited)) Cash flow statements for the six months ended June 30, 2024, show strong operating cash generation, primarily used for significant share repurchases Six Months Ended June 30 Cash Flow (in millions) | Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $592.0 | $468.3 | | Net cash provided by (used in) investing activities | $40.9 | $(52.0) | | Net cash used in financing activities | $(646.2) | $(608.3) | | Net decrease in cash | $(13.9) | $(191.4) | [Reconciliation of Non-GAAP Financial Measures](index=10&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) This section reconciles GAAP financial measures to non-GAAP metrics like NEBITDA, Free Cash Flow, and Unlevered Free Cash Flow, providing adjusted performance views Q2 2024 Net Income to NEBITDA Reconciliation (in millions) | Line Item | Amount | | :--- | :--- | | Net income | $146.3 | | Adjustments (Depreciation, Equity Comp, Interest, etc.) | +$185.4 | | **NEBITDA** | **$331.7** | Q2 2024 Cash Flow Reconciliation (in millions) | Line Item | Amount | | :--- | :--- | | Net cash provided by operating activities | $294.8 | | Adjustments (Capex, Restructuring, etc.) | +$28.6 | | **Free cash flow** | **$323.4** | | Cash paid for interest on long-term debt | +$45.3 | | **Unlevered free cash flow** | **$368.7** | [Supplementary Information](index=5&type=section&id=Supplementary%20Information) This section defines key non-GAAP and operating metrics, clarifies share outstanding changes due to buybacks, and provides constant currency reconciliations for performance analysis [Definitions of Non-GAAP and Operating Metrics](index=5&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Other%20Operating%20and%20Business%20Metrics) This section defines GoDaddy's key non-GAAP and operating metrics, including Total Bookings, Constant Currency, NEBITDA, Free Cash Flow, Net Debt, ARR, and ARPU - Key operating metrics used by management include **Total Bookings**, **Constant Currency**, **NEBITDA**, **Free Cash Flow**, **Net Debt**, **Annualized Recurring Revenue (ARR)**, **Average Revenue Per User (ARPU)**, and **Total Customers**[20](index=20&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk) [Shares Outstanding](index=11&type=section&id=Shares%20Outstanding) Total common stock outstanding decreased to **141.5 million shares** as of June 30, 2024, reflecting the impact of the company's share repurchase program Total Common Stock Outstanding (in thousands) | Date | Shares Outstanding | | :--- | :--- | | June 30, 2024 | 141,455 | | June 30, 2023 | 148,600 |

Core Insights - GoDaddy (GDDY) is expected to report quarterly earnings of $1.07 per share, reflecting a year-over-year increase of 69.8% [1] - Revenue is anticipated to reach $1.11 billion, which is a 6.3% increase from the same quarter last year [1] - The consensus EPS estimate has been revised down by 0.3% in the past 30 days, indicating a reassessment by analysts [1] Revenue Estimates - Analysts estimate 'Revenue- Applications & Commerce' to be $398.37 million, representing a 13.3% increase from the previous year [2] - The 'Revenue- Core platform' is projected to reach $714.83 million, showing a 2.7% increase year-over-year [2] - Total bookings are expected to be $1.22 billion, up from $1.14 billion in the same quarter last year [2] Customer and EBITDA Projections - The estimated 'Total customers at period end' is projected to be 21.08 million, compared to 20.99 million a year ago [3] - 'Segment EBITDA- Core Platform' is expected to reach $205.12 million, up from $191 million in the same quarter last year [3] - 'Segment EBITDA- Applications & Commerce' is projected at $168.33 million, compared to $142.70 million in the same quarter last year [3] Stock Performance - Over the past month, GoDaddy shares have increased by 1.7%, while the Zacks S&P 500 composite has seen a change of +0.1% [3] - GoDaddy holds a Zacks Rank 3 (Hold), suggesting its performance will likely align with the overall market in the near term [3]

GoDaddy Inc (NYSE:GDDY) stock is trading at all-time highs after joining the S&P 500 Index (SPX) last month, and recently bounced off the $140 level following a late-June breakout. That level is also seven times the equity’s initial public offering (IPO) price and coincides with its 20-day moving average, with shares now behaving in a similar way as they did in April. Short interest increased 50% from February to the first half of June, before a small dip in the second half. Nevertheless, the security has r ...

TEMPE, Ariz., July 8, 2024 /PRNewswire/ -- GoDaddy Inc. (NYSE: GDDY) will release financial results for the second quarter of 2024 on Thursday, August 1, 2024, after the U.S. stock market closes.Following the news release, GoDaddy management will host a live webcast at 5:00 p.m. Eastern Time, which will be available on GoDaddy's Investor Relations website at https://investors.godaddy.net. To participate, please register here.Following the webcast's completion, a recording will be available on GoDaddy's Inve ...

Leontura Investment Thesis It has been just over two years now since GoDaddy (NYSE:GDDY) underwent a significant transformation to add more value to users and business establishments that are entirely focused on conducting their businesses online. GoDaddy was once synonymous with domain registration and web hosting capabilities. This became extremely crucial because, with almost 21 billion customers using at least one GoDaddy product, market penetration had reached a saturation point and deceleration wa ...

GoDaddy was just added to the S&P 500.Once per quarter, the S&P 500 index undergoes a rebalancing. Essentially, this is a list of requirements companies must meet to be eligible and maintain their status as a member of the S&P 500. The quarterly rebalances ensure that new companies enter the index while replacing businesses that have fallen out of eligibility.One company that was just added to the S&P 500 is website and e-commerce specialist GoDaddy (GDDY -0.38%). Admittedly, I always viewed GoDaddy as some ...