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 hosted a virtual investor day on February 11, 2022, highlighting its strategy to empower entrepreneurs by enhancing digital identity and commerce solutions. The company announced a $3 billion share repurchase plan, including a $750 million accelerated buyback in Q1 2022. GoDaddy introduced two new revenue pillars: Applications & Commerce, contributing 30% of 2021 revenue, and Core Platform, comprising 70%. The firm targets a 10% annual revenue growth and aims for $3 billion in unlevered free cash flow through 2024. CEO Aman Bhutani emphasized the importance of supporting customers in a changing business landscape.
GoDaddy reported strong Q4 and full-year 2021 financial results, achieving over $1 billion in quarterly revenue for the first time. Fourth-quarter revenue totaled $1,019.3 million, a 16.6% increase year-over-year, contributing to a full-year revenue of $3,815.7 million, up 15%. The company announced a $3 billion share repurchase plan and grew its annual recurring revenue (ARR) from its 'Create and Grow' products by 19%. For 2022, GoDaddy projects revenue between $4.14 billion and $4.16 billion, representing a 9% growth. Net income improved significantly, reaching $242.8 million for the year.
GoDaddy (NYSE: GDDY) announced its short film Big Water Summer: A Creation Story has been selected for the SXSW Film Festival. The film tells the story of Cherilyn Yazzie, a Navajo Nation entrepreneur, as she navigates crop challenges, drought, and pandemic hardships while operating her farm, Coffee Pot Farms. GoDaddy highlights the resilience of small business owners adapting to difficulties. The film will screen on March 13, 14, and 17, 2022, showcasing the entrepreneurial spirit amidst significant obstacles.
GoDaddy's Empower Baltimore program launches to support local microbusinesses by enhancing their web presence. In partnership with Impact Hub Baltimore, the initiative offers programming, mentorship, and free GoDaddy products, including domains and websites. The program will host five cohorts throughout the year, with a review process for applicants. Additionally, storytelling events will spotlight Baltimore's creative communities. The first launch event is scheduled for Feb. 17 at Baltimore Center Stage. GoDaddy aims to empower over 150,000 microbusinesses in the area, promoting local economic growth.
GoDaddy Inc. (NYSE: GDDY) will release its financial results for the fourth quarter and fiscal year 2021 on February 10, 2022, after the market closes. Following the release, there will be a conference call at 5:00 p.m. ET, accessible via registration. Additionally, GoDaddy will host a virtual investor day on February 11, 2022, at 1:00 p.m. ET, featuring presentations on its long-term strategy and financial framework.
GoDaddy Inc. (NYSE: GDDY) announced that Roger Chen has been appointed as Chief Operating Officer, effective January 3, 2022. CEO Aman Bhutani praised Chen's leadership and operational excellence, highlighting his successful tenure as President of the Domain Registrars and Investors business. Chen has been with GoDaddy since 2015, rising through various leadership roles in the Asia Pacific region. GoDaddy continues to empower entrepreneurs globally by providing tools and resources to succeed online.
GoDaddy Inc. (NYSE: GDDY) announced its definitive agreement to acquire Pagely, a leader in Managed WordPress since 2009. This acquisition aims to leverage Pagely's platform expertise to enhance GoDaddy's WooCommerce SaaS offerings, targeting elevated reliability and scalability. WooCommerce powers 94% of WordPress eCommerce stores, positioning GoDaddy to further empower small businesses. Despite the acquisition, Pagely will maintain its Managed WordPress services for enterprise clients. This move reflects GoDaddy's commitment to improving the WordPress ecosystem.
GoDaddy Inc. (NYSE: GDDY) reported Q3 2021 financial results, showing total revenue of $964 million, up 14.2% year-over-year. Domains revenue rose 17%, and business applications revenue grew 20.4%. The company launched its OmniCommerce solution and reported an annualized gross merchandise volume of approximately $25 billion, a nearly 30% increase. GoDaddy raised its full-year revenue guidance to $3.765 billion and expects Q4 revenue around $970 million. Operating cash flow reached $226 million, supporting a share repurchase of 3.4 million shares.
FAQ
What is the current stock price of GoDaddy (GDDY)?
What is the market cap of GoDaddy (GDDY)?
What services does GoDaddy provide?
Who are GoDaddy's primary target customers?
What recent acquisitions has GoDaddy made?
What is GoDaddy Venture Forward?
What financial results did GoDaddy report for Q1 2024?
How much cash and debt does GoDaddy have?
What are GoDaddy's revenue expectations for 2024?
What restructuring efforts did GoDaddy implement recently?
What are GoDaddy's plans for free cash flow in 2024?
How has GoDaddy expanded its financial flexibility?
