GoDaddy(US:GDDY)2025-02-13 21:09Financial Performance - Total revenue for 2024 was $4.6 billion, an increase of 8% year-over-year[6] - Net income for 2024 was $936.9 million, down 32% year-over-year, with a margin of 20%[6] - Normalized EBITDA (NEBITDA) for 2024 was $1.4 billion, up 23% year-over-year, representing a 31% margin[6] - Free cash flow for 2024 was $1.4 billion, an increase of 25% year-over-year[6] - Total revenue for Q4 2024 was $1,192.6 million, a 8.4% increase from $1,100.3 million in Q4 2023[36] - Net income attributable to GoDaddy Inc. for Q4 2024 was $198.6 million, compared to $1,113.9 million in Q4 2023, reflecting a significant decrease[36] - Net income for the year ended December 31, 2024, was $936.9 million, a decrease of 31.9% compared to $1,375.6 million in 2023[40] - Net cash provided by operating activities increased to $1,287.7 million in 2024 from $1,047.6 million in 2023, representing a growth of 22.9%[40] - Free cash flow for the year ended December 31, 2024, was $1,355.5 million, up from $1,084.4 million in 2023, indicating a year-over-year increase of 25%[44] - Total debt as of December 31, 2024, was $3,853.9 million, with net debt standing at $2,764.9 million after accounting for cash and cash equivalents[43] Future Projections - For Q1 2025, total revenue is expected to be between $1.175 billion and $1.195 billion, representing year-over-year growth of 7% at the midpoint[11] - For the full year 2025, total revenue is targeted in the range of $4.860 billion to $4.940 billion, also representing year-over-year growth of 7% at the midpoint[11] Operational Metrics - Annualized recurring revenue (ARR) is a key metric, highlighting the scale of subscription-based services, which is crucial for future revenue growth[31] - Total bookings, an important operating metric, provides insight into customer contract values, excluding refunds, indicating marketing effectiveness[22] - The company reported a NEBITDA margin, which is a supplemental measure of operating performance, reflecting the ratio of NEBITDA to revenue[25] - Total customers increased, which is a contributing factor to revenue growth potential, although specific numbers were not disclosed[33] Cash and Liquidity - GoDaddy's cash and cash equivalents increased to $1,089.0 million in Q4 2024 from $458.8 million in Q4 2023, indicating improved liquidity[38] - Cash and cash equivalents at the end of the period increased to $1,089.0 million from $458.8 million in 2023, marking a substantial rise[40] Investment and Innovation - GoDaddy's investment in technology and development was $200.5 million for Q4 2024, slightly down from $203.8 million in Q4 2023, indicating a focus on innovation[36] - The company is actively pursuing market expansion and new product development, particularly through its AI-powered services to enhance customer experience[34] - The company launched the Airo Plus tier, enhancing its AI-powered GoDaddy Airo experience[9] Debt and Financing - In December 2024, GoDaddy refinanced $1.5 billion of term loans, securing a 0.25% interest rate margin reduction[10] - The company issued $4,214.8 million in term loans during the year, significantly higher than $1,759.9 million in 2023[40] Profitability and Efficiency - NEBITDA margin for the year ended December 31, 2024, was 30.5%, up from 26.7% in 2023, indicating improved operational efficiency[41]