GoDaddy Reports Fourth Quarter and Full Year 2022 Results
GoDaddy Inc. (GDDY) reported robust financial results for 2022, with a total revenue of $4.1 billion, a 7.2% increase year-over-year. The company achieved notable growth in key metrics: cash provided by operating activities rose 18% to $979.7 million, and free cash flow increased 13% to $968.6 million. Net income surged 45.3% to $352.9 million. The fourth quarter saw GoDaddy signing a strategic partnership with FIS Worldpay to enhance its OmniCommerce solutions. As it enters 2023, GoDaddy expects total revenue to range between $4.250 billion and $4.325 billion, signaling a growth outlook of 5% for the year.
- Total revenue grew 7.2% year-over-year to $4.1 billion.
- Net income increased 45.3% to $352.9 million.
- Normalized EBITDA rose 16.1% to $1.0 billion with a margin of 25%.
- Free cash flow reached $968.6 million, up 13.2% year-over-year.
- New partnership with FIS Worldpay to enhance commerce offerings for small businesses.
- Core platform revenue declined by 1.7% year-over-year.
2022 Revenue up
"GoDaddy achieved strong revenue and cash flow growth in 2022, despite macroeconomic headwinds," said GoDaddy CEO
"GoDaddy delivered solid 2022 financial results demonstrating the resiliency of our business," said GoDaddy CFO
Full Year 2022 Business Highlights
- Total revenue of
$4.1 billion 7.2% year-over-year, and8.4% on a constant currency basis. - Total bookings of
$4.4 billion 4.3% year-over-year, and6.0% on a constant currency basis. - Net Income of
$352.9 million 45.3% year-over-year. - Normalized EBITDA of
$1.0 billion 16.1% year-over-year, representing25% margin. - Net cash provided by operating activities of
$979.7 million 18.1% year-over-year. - Free cash flow of
$968.6 million 13.2% year-over-year. - Unlevered free cash flow of
$1.1 billion 14.2% year-over-year. - Through
February 1, 2023 , share count reduced10% since launch of GoDaddy's current share buyback authorization in 2022.
Fourth Quarter 2022 Business Highlights
- Signed a meaningful partnership agreement with FIS Worldpay, the market-leading merchant services provider, to sell GoDaddy's OmniCommerce solutions for US based small business customers and bank partners.
- Launched Managed WooCommerce Stores solution, enabling entrepreneurs to easily sell in-person and across marketplaces and social channels through one unified dashboard and without the need to download additional plugins.
- Implemented payments by default, automatically attaching GoDaddy's premier payments platform to its domains and website building plans. GoDaddy's goal of enabling commerce on every surface gives customers the freedom to seamlessly transact as soon as their website or domain is created.
- Annualized recurring revenue (ARR) for applications & commerce grew
9% year-over-year to$1.3 billion - ARR from GoDaddy's Create and Grow group of products, which includes Websites + Marketing, Managed WordPress, Sellbrite, and
GoDaddy Studios , surpassed$445 million 8% year-over-year in the fourth quarter of 2022. - Drove strong growth in its Commerce offerings with gross merchandise volume of
$28 billion 10% year-over-year. - Gross payments volume, or GPV, from GoDaddy's commerce offerings has already grown to an impressive
$760 million - ARR for Core Platform grew
1% year-over-year to$2.3 billion
Consolidated Fourth Quarter and Full Year Financial Highlights
Three Months Ended | Year Ended | ||||||||||||
2022 | 2021 | Change | Constant | 2022 | 2021 | Change | Constant | ||||||
(in millions, except customers in thousands and ARPU in dollars) | |||||||||||||
GAAP Results | |||||||||||||
Total revenue | 2.0 % | 3.6 % | 7.2 % | 8.4 % | |||||||||
Applications & commerce | $ 333.4 | $ 300.5 | 10.9 % | 13.4 % | |||||||||
Core platform revenue | $ 706.5 | $ 718.8 | (1.7) % | 4.6 % | |||||||||
International revenue | $ 340.8 | $ 330.8 | 3.0 % | 7.8 % | 5.0 % | 8.4 % | |||||||
Net income | $ 93.8 | $ 87.4 | 7.3 % | $ 352.9 | $ 242.8 | 45.3 % | |||||||
Net cash provided by | $ 208.0 | $ 172.2 | 20.8 % | $ 979.7 | $ 829.3 | 18.1 % | |||||||
Segment EBITDA - | $ 135.6 | $ 123.5 | 9.8 % | $ 522.8 | $ 447.7 | 16.8 % | |||||||
Segment EBITDA - Core platform | $ 204.8 | $ 198.0 | 3.4 % | $ 783.7 | $ 679.7 | 15.3 % | |||||||
Non-GAAP Results | |||||||||||||
Normalized EBITDA | $ 266.0 | $ 254.0 | 4.7 % | $ 872.2 | 16.1 % | ||||||||
Unlevered free cash flow | $ 238.2 | $ 203.2 | 17.2 % | $ 960.0 | 14.2 % | ||||||||
Free cash flow | $ 201.6 | $ 173.4 | 16.3 % | $ 968.6 | $ 855.8 | 13.2 % | |||||||
Operating Metrics | |||||||||||||
Total bookings | 0.1 % | 2.2 % | 4.3 % | 6.0 % | |||||||||
Total customers at period end | 20,897 | 20,704 | 0.9 % | 20,897 | 20,704 | 0.9 % | |||||||
Average revenue per user | $ 197 | $ 187 | 9.7 % | $ 197 | $ 187 | 9.7 % | |||||||
ARR | 4.0 % | 4.0 % | |||||||||||
Share Repurchase
From
Balance Sheet
At
Restructuring
On
Business Outlook
For the first quarter ending
For the first quarter ending
For the full year ending
Modeling Guide | 2023 | |
Capital expenditures | ~ | |
Cash interest on long-term debt | ~ | |
Cash income taxes | ~ | |
GoDaddy's consolidated financial statements are prepared in accordance with generally accepted accounting principles in
Quarterly Earnings Webcast
GoDaddy will host a webcast to discuss fourth quarter and full year end 2022 results at
GoDaddy uses its Investor Relations website at https://investors.godaddy.net as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, investors should monitor GoDaddy's Investor Relations website, in addition to following press releases,
Forward-Looking Statements
This press release contains forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on estimates and information available to us at the time of this press release and are not guarantees of future performance. Statements in this press release involve risks, uncertainties and assumptions. If the risks or uncertainties materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact could be deemed forward-looking statements, including, but not limited to any statements regarding: launches of new or expansion of existing products or services, any projections of product or service availability, technology developments and innovation, customer growth, or other future events; historical results that may suggest future trends for our business; our plans, strategies or objectives with respect to future operations, partnerships and partner integrations and marketing strategy; future financial results; GoDaddy's ability to integrate its acquisitions and achieve desired synergies and vertical integration; and the impact of the ongoing COVID-19 pandemic on our business, customers, employees and third-party partners; and assumptions underlying any of the foregoing.
Actual results could differ materially from our current expectations as a result of many factors, including, but not limited to: the unpredictable nature of our rapidly evolving market; fluctuations in our financial and operating results; our rate of growth; interruptions or delays in our service or our web hosting; the Company's dependence on payment card networks and acquiring processors; breaches of our security measures; the impact of any previous or future acquisitions; our ability to continue to release, and gain customer acceptance of, our existing and future products and services; our ability to manage our growth; our ability to hire, retain and motivate employees; the effects of competition; technological, regulatory and legal developments; intellectual property litigation; our ability to achieve cost savings from our restructuring plan; disruptions to our business as a result of our restructuring plan; disruptions in relationships with customers, suppliers, vendors or contractors, or employees, as a result of our restructuring plan; macroeconomic conditions and developments in the economy, financial markets and credit markets, including as a result of the ongoing COVID-19 pandemic, continued escalation of geopolitical tensions, and increasing interest rates and inflationary pressures; and execution of share repurchases.
Additional risks and uncertainties that could affect GoDaddy's business and financial results are included in the filings we make with the
Non-GAAP Financial Measures and Other Operating and Business Metrics
In addition to our financial results prepared in accordance with GAAP, this press release includes certain non-GAAP financial measures and other operating and business metrics. We believe that these non-GAAP financial measures and other operating and business metrics are useful as a supplement in evaluating our ongoing operational performance and enhancing an overall understanding of our past financial performance. The non-GAAP financial measures included in this press release should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In addition, similarly titled measures may be calculated differently by other companies and may not be comparable. A reconciliation between each non-GAAP financial measure and its nearest GAAP equivalent is included in this press release following the financial statements. We use both GAAP and non-GAAP measures to evaluate and manage our operations.
Total bookings. Total bookings is an operating metric representing the total value of customer contracts entered into during the period, excluding refunds. We believe total bookings provides additional insight into the performance of our business and the effectiveness of our marketing efforts since we typically collect payment at the inception of a customer contract but recognize revenue ratably over the term of the contract.
Constant currency. Constant currency is calculated by translating bookings and revenue for each month in the current period using the foreign currency exchange rates for the corresponding month in the prior period, excluding any hedging gains or losses realized during the period. We believe constant currency information is useful in analyzing underlying trends in our business by eliminating the impact of fluctuations in foreign currency exchange rates and allows for period-to-period comparisons of our performance.
Normalized EBITDA (NEBITDA). NEBITDA is a supplemental measure of our operating performance used by management and investors to evaluate our business. We calculate NEBITDA as net income excluding depreciation and amortization, interest expense (net), provision or benefit for income taxes, equity-based compensation expense, acquisition-related costs, restructuring-related expenses and certain other items. We believe that the inclusion or exclusion of certain recurring and non-recurring items provides a supplementary measure of our core operating results and permits useful alternative period-over-period comparisons of our operations but should not be viewed as a substitute for comparable GAAP measures.
Unlevered free cash flow. Unlevered free cash flow is a measure of our liquidity used by management to evaluate our business prior to the impact of our capital structure and restructuring and after purchases of property and equipment. Such liquidity can be used by us for strategic opportunities and strengthening our balance sheet. However, given our debt obligations, unlevered free cash flow does not represent residual cash flow available for discretionary expenses.
Free cash flow. Free cash flow is defined as our unlevered free cash flow less interest payments for the period. We use free cash flow as a supplemental measure of our liquidity, including our ability to generate cash flow in excess of capital requirements and return cash to shareholders, though it should not be considered as an alternative to, or more meaningful than, comparable GAAP measures.
Net debt. We define net debt as total debt less cash and cash equivalents. Total debt consists of the current portion of long-term debt plus long-term debt and unamortized original issue discount and debt issuance costs. Our management reviews net debt as part of its management of our overall liquidity, financial flexibility, capital structure and leverage and we believe such information is useful to investors. Furthermore, certain analysts and debt rating agencies monitor our net debt as part of their assessments of our business.
Gross merchandise volume (GMV). GMV is a business metric calculated by annualizing the total quarterly dollar value of orders facilitated by our customers through our Commerce platform, including shipping and handling, and taxes, and is shown net of discounts, and returns (where visibility exists). While GMV is not indicative of our performance, we believe it is an indicator of the strengths of our products and platforms.
Gross payments volume (GPV). GPV is an operating metric calculated by annualizing the total quarterly dollar value of transactions processed through our payments platform. GPV is representative of the volume of transactions in which we record transaction revenue based on our payment processing rate.
Annualized recurring revenue (ARR). ARR is an operating metric defined as quarterly recurring revenue (QRR) multiplied by four. QRR represents the quarterly recurring GAAP revenue, net of refunds, from new and renewed subscription-based services. ARR is exclusive of any revenue that is non-recurring, including, without limitation, domain aftermarket, domain transfers, one-time set-up or migration fees and non-recurring professional website services fees. We believe ARR helps illustrate the scale of certain of our products and facilitates comparisons to other companies in our industry.
Average revenue per user (ARPU). We calculate ARPU as total revenue during the preceding 12 month period divided by the average of the number of total customers at the beginning and end of the period. ARPU provides insight into our ability to sell additional products to customers, though the impact to date has been muted due to our continued growth in total customers.
Total customers. We define a customer as an individual or entity with paid transactions in the trailing twelve months or with paid subscriptions as of the end of the period. A single user may be counted as a customer more than once if they maintain paid subscriptions or transactions in multiple accounts. Total customers is one way we measure the scale of our business and is an important part of our ability to increase our revenue base.
About GoDaddy
GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a professional website, attract customers, sell their products and services, and accept payments online and in-person. GoDaddy's easy-to-use tools help microbusiness owners manage everything in one place and its expert guides are available to provide assistance 24/7. To learn more about the company, visit www.GoDaddy.com.
| |||||||
Three Months Ended | Year Ended | ||||||
2022 | 2021 | 2022 | 2021 | ||||
Revenue: | |||||||
Applications & commerce | $ 333.4 | $ 300.5 | $ 1,279.7 | $ 1,128.3 | |||
Core platform | 706.5 | 718.8 | 2,811.6 | 2,687.4 | |||
Total revenue | 1,039.9 | 1,019.3 | 4,091.3 | 3,815.7 | |||
Costs and operating expenses(1)(2): | |||||||
Cost of revenue (excluding depreciation and amortization) | 379.5 | 373.2 | 1,484.5 | 1,372.2 | |||
Technology and development | 206.3 | 175.5 | 794.0 | 706.3 | |||
Marketing and advertising | 94.9 | 120.7 | 412.3 | 503.9 | |||
Customer care | 75.3 | 75.2 | 305.9 | 306.1 | |||
General and administrative | 98.6 | 84.9 | 385.5 | 345.8 | |||
Restructuring and other | 0.9 | 15.1 | 15.7 | (0.3) | |||
Depreciation and amortization | 49.5 | 49.9 | 194.6 | 199.6 | |||
Total costs and operating expenses | 905.0 | 894.5 | 3,592.5 | 3,433.6 | |||
Operating income | 134.9 | 124.8 | 498.8 | 382.1 | |||
Interest expense | (42.2) | (32.2) | (146.3) | (126.0) | |||
Loss on debt extinguishment | (3.6) | — | (3.6) | — | |||
Other income (expense), net | 6.8 | (1.1) | 7.6 | (2.5) | |||
Income before income taxes | 95.9 | 91.5 | 356.5 | 253.6 | |||
Provision for income taxes | (2.1) | (4.1) | (3.6) | (10.8) | |||
Net income | 93.8 | 87.4 | 352.9 | 242.8 | |||
Less: net income attributable to non-controlling interests | 0.2 | 0.2 | 0.7 | 0.5 | |||
Net income attributable to | $ 93.6 | $ 87.2 | $ 352.2 | $ 242.3 | |||
Net income attributable to | |||||||
Basic | $ 0.60 | $ 0.52 | $ 2.22 | $ 1.44 | |||
Diluted | $ 0.60 | $ 0.52 | $ 2.19 | $ 1.42 | |||
Weighted-average shares of Class A common stock outstanding: | |||||||
Basic | 154,745 | 166,481 | 158,788 | 167,906 | |||
Diluted | 157,083 | 168,304 | 161,457 | 171,105 | |||
(1) Costs and operating expenses include equity-based compensation expense as follows: | |||||||
Cost of revenue | $ 0.4 | $ 0.2 | $ 1.5 | $ 0.9 | |||
Technology and development | 37.9 | 27.8 | 140.3 | 110.0 | |||
Marketing and advertising | 7.4 | 6.0 | 29.1 | 24.8 | |||
Customer care | 5.4 | 3.9 | 20.0 | 14.1 | |||
General and administrative | 20.0 | 15.1 | 73.5 | 58.1 | |||
Total equity-based compensation expense | $ 71.1 | $ 53.0 | $ 264.4 | $ 207.9 | |||
(2) Costs and operating expenses include acquisition-related expenses as follows: | |||||||
Technology and development | $ 5.2 | $ 5.8 | $ 19.1 | $ 44.1 | |||
Marketing and advertising | — | 0.1 | 0.2 | 0.1 | |||
Customer care | 0.1 | 0.2 | 0.4 | 1.7 | |||
General and administrative | 2.6 | 6.2 | 15.4 | 32.3 | |||
Total acquisition-related expenses | $ 7.9 | $ 12.3 | $ 35.1 | $ 78.2 | |||
| |||
2022 | 2021 | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ 774.0 | $ 1,255.7 | |
Accounts and other receivables | 60.1 | 63.6 | |
Registry deposits | 41.0 | 40.9 | |
Prepaid domain name registry fees | 435.7 | 419.7 | |
Prepaid expenses and other current assets | 271.8 | 109.9 | |
Total current assets | 1,582.6 | 1,889.8 | |
Property and equipment, net | 225.6 | 220.0 | |
Operating lease assets | 84.1 | 109.2 | |
Prepaid domain name registry fees, net of current portion | 197.1 | 181.4 | |
3,536.9 | 3,540.8 | ||
Intangible assets, net | 1,252.2 | 1,384.7 | |
Other assets | 95.0 | 91.2 | |
Total assets | $ 6,973.5 | $ 7,417.1 | |
Liabilities and stockholders' equity (deficit) | |||
Current liabilities: | |||
Accounts payable | $ 130.9 | $ 85.2 | |
Accrued expenses and other current liabilities | 356.7 | 437.3 | |
Deferred revenue | 1,954.0 | 1,890.1 | |
Long-term debt | 18.2 | 24.1 | |
Total current liabilities | 2,459.8 | 2,436.7 | |
Deferred revenue, net of current portion | 770.3 | 743.3 | |
Long-term debt, net of current portion | 3,812.9 | 3,858.2 | |
Operating lease liabilities, net of current portion | 116.5 | 142.7 | |
Other long-term liabilities | 87.1 | 77.7 | |
Deferred tax liabilities | 56.2 | 75.3 | |
Commitments and contingencies | |||
Stockholders' equity (deficit): | |||
Preferred stock, | — | — | |
Class A common stock, | 0.2 | 0.2 | |
Class B common stock, | — | — | |
Additional paid-in capital | 1,912.6 | 1,594.7 | |
Accumulated deficit | (2,422.6) | (1,474.6) | |
Accumulated other comprehensive income (loss) | 178.0 | (38.6) | |
Total stockholders' equity (deficit) attributable to | (331.8) | 81.7 | |
Non-controlling interests | 2.5 | 1.5 | |
Total stockholders' equity (deficit) | (329.3) | 83.2 | |
Total liabilities and stockholders' equity (deficit) | $ 6,973.5 | $ 7,417.1 | |
| |||
Year Ended | |||
2022 | 2021 | ||
Operating activities | |||
Net income | $ 352.9 | $ 242.8 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 194.6 | 199.6 | |
Equity-based compensation | 264.4 | 207.9 | |
Gain on derivative instruments | 27.6 | 6.3 | |
Non-cash restructuring and other charges | 10.4 | 15.1 | |
Other | 48.4 | 14.6 | |
Changes in operating assets and liabilities, net of amounts acquired: | |||
Prepaid domain name registry fees | (34.7) | (37.8) | |
Accounts payable | 35.1 | 34.2 | |
Accrued expenses and other current liabilities | 11.3 | 40.9 | |
Deferred revenue | 101.6 | 190.7 | |
Other operating assets and liabilities | (31.9) | (85.0) | |
Net cash provided by operating activities | 979.7 | 829.3 | |
Investing activities | |||
Business acquisitions, net of cash acquired | (72.5) | (367.7) | |
Purchases of intangible assets | (0.4) | (202.1) | |
Purchases of property and equipment | (59.7) | (51.1) | |
Purchases of equity investments | — | (40.0) | |
Other investing activities, net | 0.6 | 25.3 | |
Net cash used in investing activities | (132.0) | (635.6) | |
Financing activities | |||
Proceeds received from: | |||
Issuance of term loans | 1,725.3 | — | |
Issuance of Senior Notes | — | 800.0 | |
Stock option exercises | 19.9 | 42.7 | |
Issuance of Class A common stock under employee stock purchase plan | 30.1 | 30.7 | |
Payments made for: | |||
Settlement of tax receivable agreements | — | (0.2) | |
Repurchases of Class A common stock | (1,294.6) | (526.0) | |
Repayment of term loans | (1,789.9) | (32.4) | |
Financing-related costs | (4.2) | (9.6) | |
Contingent consideration for business acquisitions | (9.3) | (4.7) | |
Other financing obligations | (4.0) | (2.4) | |
Net cash provided by (used in) financing activities | (1,326.7) | 298.1 | |
Effect of exchange rate changes on cash and cash equivalents | (2.7) | (1.3) | |
Net increase (decrease) in cash and cash equivalents | (481.7) | 490.5 | |
Cash and cash equivalents, beginning of period | 1,255.7 | 765.2 | |
Cash and cash equivalents, end of period | $ 774.0 | $ 1,255.7 | |
Reconciliation of Non-GAAP Financial Measures
The following tables reconcile each non-GAAP financial measure to its most directly comparable GAAP financial measure:
Three Months Ended | Year Ended | ||||||
2022 | 2021 | 2022 | 2021 | ||||
NEBITDA: | (in millions) | ||||||
Net income | $ 93.8 | $ 87.4 | $ 352.9 | $ 242.8 | |||
Depreciation and amortization | 49.5 | 49.9 | 194.6 | 199.6 | |||
Equity-based compensation | 71.1 | 53.0 | 264.4 | 207.9 | |||
Interest expense, net | 36.1 | 31.9 | 135.0 | 124.9 | |||
Acquisition-related expenses | 7.9 | 12.3 | 35.1 | 78.2 | |||
Restructuring and other(1) | 5.5 | 15.5 | 27.4 | 8.0 | |||
Provision (benefit) for income taxes | 2.1 | 4.1 | 3.6 | 10.8 | |||
NEBITDA | $ 266.0 | $ 254.1 | $ 1,013.0 | $ 872.2 | |||
_____________________ | |
(1) | Includes lease-related expenses associated with closed facilities, charges related to certain legal matters, and expenses incurred in relation to the refinancing of our long-term debt. |
| |
(in millions) | |
Net Debt: | |
Current portion of long-term debt | $ 18.2 |
Long-term debt | 3,812.9 |
Unamortized original issue discount and debt issuance costs | 70.2 |
Total debt | 3,901.3 |
Less: Cash and cash equivalents | (774.0) |
Net debt | $ 3,127.3 |
Three Months Ended | Year Ended | ||||||
2022 | 2021 | 2022 | 2021 | ||||
(in millions) | |||||||
Free Cash Flow and Unlevered Free Cash Flow: | |||||||
Net cash provided by operating activities | $ 208.0 | $ 172.2 | $ 979.7 | $ 829.3 | |||
Capital expenditures | (17.1) | (17.4) | (59.7) | (51.1) | |||
Cash paid for acquisition-related costs(1) | 7.2 | 11.4 | 37.9 | 64.9 | |||
Cash paid for restructuring and other charges(2) | 3.5 | 7.2 | 10.7 | 12.7 | |||
Free cash flow | $ 201.6 | $ 173.4 | $ 968.6 | $ 855.8 | |||
Cash paid for interest on long-term debt | 36.6 | 29.8 | 127.3 | 104.2 | |||
Unlevered free cash flow | $ 238.2 | $ 203.2 | $ 1,095.9 | $ 960.0 | |||
______________________ | |
(1) | Cash paid for acquisition-related costs in 2021 includes |
(2) | Cash paid for restructuring and other charges includes lease-related payments associated with closed facilities and third party payments incurred in relation to the refinancing of our long-term debt. |
Shares Outstanding
Shares of Class B common stock are not participating securities, and therefore do not have rights to share in our earnings. Total shares of common stock outstanding are as follows:
2022 | 2021 | ||
(in thousands) | |||
Shares Outstanding: | |||
Class A common stock | 153,830 | 166,901 | |
Class B common stock | 312 | 320 | |
Total common stock outstanding | 154,142 | 167,221 | |
Effect of dilutive securities(1) | 2,026 | 1,503 | |
Total shares outstanding | 156,168 | 168,724 | |
_____________________________ | |
(1) | Calculated using the treasury stock method, which excludes the impact of antidilutive securities. |
Constant Currency
The following table provides a reconciliation of constant currency:
Three Months | Year Ended | ||
(in millions) | |||
Constant Currency: | |||
Revenue | $ 1,039.9 | $ 4,091.3 | |
Constant currency adjustment | 16.4 | 44.4 | |
Constant currency revenue | $ 1,056.3 | $ 4,135.7 | |
Bookings | $ 1,051.6 | $ 4,413.8 | |
Constant currency adjustment | 22.0 | 69.7 | |
Constant currency revenue | $ 1,073.6 | $ 4,483.5 | |
Customer and ARPU Disclosure
The following table provides retrospective disclosures of total customers and ARPU utilizing GoDaddy's updated customer definition:
Year Ended | |||
2021 | 2020 | ||
Total customers at period end (in thousands): | |||
Previous definition | 21,233 | 20,646 | |
New definition | 20,704 | 20,148 | |
Average revenue per user: | |||
Previous definition | $ 182 | $ 166 | |
New definition | $ 187 | $ 170 | |
Source:
© 2023
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