Welcome to our dedicated page for GoDaddy news (Ticker: GDDY), a resource for investors and traders seeking the latest updates and insights on GoDaddy stock.
GoDaddy Inc. (NYSE: GDDY) is a global leader in domain registration and web services, helping millions of entrepreneurs start, grow, and scale their businesses online. Founded with the mission to make it easy and affordable for people to get their ideas online, GoDaddy has evolved into a comprehensive platform offering domain registration, website hosting, security, design, business productivity tools, commerce solutions, and domain registry services.
GoDaddy primarily serves micro- to small businesses, website design professionals, registrar peers, and domain investors. In 2021, the company expanded its offerings by acquiring payment processing platform Poynt, enabling it to offer omnicommerce solutions, including online payment gateways and offline point-of-sale devices.
Recent Achievements and Current Projects:
- In February 2024, GoDaddy's Venture Forward research initiative, in collaboration with Nasdaq and Wells Fargo, highlighted the growing impact of women-led microbusinesses. The panel discussed challenges like access to capital and provided insights to support women entrepreneurs.
- GoDaddy reported strong financial results for Q1 2024, with a focus on sustainable growth and innovation. The company repurchased 2.8 million shares year-to-date, demonstrating solid financial health.
- GoDaddy implemented infrastructure simplifications and restructuring efforts to reduce operating expenses and improve cash flows, impacting approximately 180 employees.
- In May 2024, GoDaddy closed a $1 billion tranche of term loans maturing in 2031 to refinance and extend the maturity date of previous loans, enhancing its financial flexibility.
Financial Condition and Outlook:
As of March 31, 2024, GoDaddy had $664 million in cash and cash equivalents, total debt of $3.9 billion, and net debt of $3.2 billion. The company expects Q2 2024 revenue to range between $1.10 billion and $1.12 billion, with full-year 2024 revenue projected at $4.50 billion to $4.56 billion. GoDaddy aims for a full-year normalized EBITDA margin of approximately 29% and expects unlevered free cash flow of at least $1.4 billion.
For more information, visit GoDaddy's website or their Investor Relations page.
GoDaddy (NYSE: GDDY) announces that Chief Financial Officer Mark McCaffrey will present at two upcoming conferences. The first is the Credit Suisse 26th Annual Technology Conference on November 30, 2022, at 5:05 p.m. ET in Scottsdale, Arizona. The second is the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2022, at 5:30 p.m. ET in San Francisco, California. Live webcasts and audio replays can be accessed on GoDaddy's investor relations website.
On November 10, 2022, GoDaddy Inc. (GDDY) announced the successful refinancing of its credit agreement, closing a new credit facility worth $1,770 million in term loans and a $1,000 million revolving credit facility. The new loans aim to refinance existing Tranche B-2 term loans and enhance liquidity, with the first installment due March 31, 2023. The terms include varied interest rates based on loan types, while the compliance period for leverage ratios has been adjusted to require a 40% utilization of the revolving facility.
GoDaddy reported third-quarter 2022 financial results, showcasing a 7% year-over-year increase in total revenue to $1.03 billion, alongside a 2% rise in net income to $100 million. Normalized EBITDA grew by 15% to $262.7 million. The company anticipates fourth-quarter revenue between $1.03 billion to $1.05 billion, reflecting 2% growth year-over-year. Despite challenges from foreign exchange fluctuations, GoDaddy remains confident in driving long-term growth, with targets set for unlevered free cash flow of approximately $1.09 billion for 2022, marking a 14% increase year-over-year.
GoDaddy Inc. (NYSE: GDDY) announced a refinancing plan involving $1,770 million in term loans maturing in 2029 and $1,000 million in revolving credit commitments maturing in 2027. The refinancing aims to replace all outstanding Tranche B-2 Term Loans. This strategic move is expected to enhance liquidity and financial flexibility. The company anticipates closing the transactions in Q4 2022, although completion is subject to customary closing conditions.
GoDaddy Inc. (NYSE: GDDY) is set to release its financial results for Q3 2022 on November 3, 2022, after market close. A live webinar will be held at 5:00 p.m. ET to discuss these results, with registration available online. GoDaddy aims to empower entrepreneurs by providing essential tools and support for their business journeys, whether online or offline. For more updates, visit their investor relations page.
GoDaddy (GDDY) announced the retirement of Independent Chair Chuck Robel effective at the 2023 annual stockholders' meeting. Robel, who has been on the Board since May 2014 and Chair since 2015, will ensure a smooth transition to Brian Sharples, a Board member since 2016, as the new Chair effective September 30, 2022. CEO Aman Bhutani acknowledged Robel's significant contributions during his tenure, while Sharples expressed enthusiasm for continuing strategic initiatives. Robel will remain a director until the upcoming annual meeting.
GoDaddy (GDDY) has launched the Microbusiness Data Hub, providing access to over 20 million microbusiness data sets across the U.S. and Great Britain. This initiative aims to assist policymakers, researchers, and entrepreneurs by offering five unique datasets, including microbusiness density and activity indices. The hub will be updated quarterly, further enriching the data available. GoDaddy's Venture Forward initiative continues to support economic development by highlighting the often-overlooked contributions of microbusinesses to local economies.
GoDaddy launched a new multi-channel campaign celebrating the entrepreneurial journeys of its customers: Hinterland Skis, the fileist, and The Furlough Cheesecake. This initiative highlights their unique business stories and showcases the support and tools provided by GoDaddy, such as GoDaddy Payments, which offers competitive fees and expert assistance. Notable achievements of these businesses include opening brick-and-mortar stores, receiving patents, and achieving significant sales milestones. GoDaddy aims to inspire entrepreneurs by promoting their customers' 'firsts' and reinforcing its commitment to small business success.
GoDaddy (NYSE: GDDY) announced that CEO Aman Bhutani and CFO Mark McCaffrey will participate in the Wolfe Research 2nd Annual TMT Conference in San Francisco on September 7, 2022, and the Evercore ISI 2nd Annual Technology Conference in New York City on September 8, 2022, at 12:45 p.m. ET. A live audio webcast and replay of the presentation will be available on GoDaddy's investor relations website. GoDaddy aims to empower entrepreneurs by providing tools for success online and in-person. For more details, visit www.GoDaddy.com.
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