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 Inc. (NYSE: GDDY) will hold an Investor Day in February 2022 to discuss its long-term strategy and financial framework. The company will also release its third quarter financial results on November 3, 2021, after market close, followed by a conference call and webcast at 5:00 p.m. Eastern Time.
Details on the event logistics will be shared soon. GoDaddy empowers entrepreneurs by providing tools and resources for online success.
GoDaddy (NYSE: GDDY) has launched two new point of sale (POS) devices: the Smart Terminal and Card Reader, aimed at small businesses to enhance their sales capabilities. This expansion of GoDaddy Payments enables businesses to manage online and offline sales efficiently, with a pricing structure that features low transaction fees. The Smart Terminal costs $249 and includes a built-in printer, while the Card Reader is priced at $49, designed for mobile transactions. These innovations aim to empower over 60% of GoDaddy's 20 million customers who operate both online and offline.
GoDaddy (NYSE: GDDY) hosted an online event, GoDaddy OPEN 2021, aimed at educating small business owners. A highlight was a fireside chat with Naomi Osaka, who discussed her entrepreneurial journey and her skincare brand, KINLÒ, launched in partnership with GoDaddy. KINLÒ's online store saw rapid success, selling out its Hydrating Eye Cream within 48 hours and the Golden Ritual Skincare Kit shortly after. GoDaddy's integrated payments solution powers KINLÒ, underscoring its commitment to supporting entrepreneurs. The event showcased GoDaddy's role as a facilitator for budding businesses.
GoDaddy (NYSE: GDDY) is hosting GoDaddy OPEN 2021, a free online event for small business owners on September 28, 2021. The event aims to assist entrepreneurs in navigating the digital landscape with insights from industry leaders and a keynote by Naomi Osaka. Attendees can participate in nine informative breakout sessions covering branding, marketing, and sales strategies, alongside networking opportunities. Personalized business coaching sessions will also be available. Registration can be completed at events.godaddy.com/open.
GoDaddy Inc. (NYSE: GDDY) announced the launch of GoDaddy Invoicing and Payments, a new feature in the Hub by GoDaddy Pro, designed for web designers and developers. This integrated tool simplifies invoicing by eliminating the need for third-party services. Users can manage all invoices, track payments, and issue refunds within one platform. The feature is set to go live for a limited audience in the United States in August 2021 and aims to streamline financial management for entrepreneurs. The innovation stems from GoDaddy's acquisition of Poynt in December 2020.
On August 17, 2021, GoDaddy (NYSE: GDDY) announced new features, Pay Links and Virtual Terminal, within GoDaddy Payments to assist small businesses in accepting online and remote payments. Many small businesses lack a web presence, making them vulnerable as consumers prefer online payments. These features allow user-friendly setups for businesses to share secure payment links or use any device as a payment terminal. GoDaddy Payments accepts major credit and debit cards with no hidden fees. This launch aims to enhance the capabilities of small businesses, enabling them to thrive in both online and offline markets.
GoDaddy has initiated a $250 million accelerated share repurchase agreement with Goldman Sachs as part of its broader $750 million repurchase program. This buyback underscores GoDaddy's commitment to shareholder value, with approximately 6.9 million shares repurchased in 2021, representing 4% of total shares outstanding. Since January 2020, the total buyback will stand at about 16.9 million shares, or over 9% of total shares. The final settlement of this agreement is anticipated in Q3 2021.
GoDaddy reported strong Q2 2021 results, with total revenue hitting $931.3 million, up 15.5% year-over-year. Net income improved significantly to $46.9 million, compared to a loss of $673.2 million in 2020. Operating cash flow increased 24.6% to $209.4 million, while unlevered free cash flow rose 27.5% to $237.0 million. GoDaddy also launched several new products, including GoDaddy Payments, and expects Q3 revenue of about $945 million, reflecting 12% growth.
GoDaddy (NYSE: GDDY) announced a collaboration with UCLA Anderson Forecast, utilizing GoDaddy's Venture Forward data to analyze the impact of online microbusinesses on local economies. The study highlights how these businesses have adjusted during the pandemic and provides insights into their distribution and growth factors in the U.S. The pioneering index uniquely tracks microbusiness activity at various levels and aims to inform policymakers on enhancing economic resilience.
GoDaddy (NYSE: GDDY) has announced a new integration with Google that allows its customers to enhance their online visibility. This feature enables GoDaddy customers to create Google Merchant Center accounts directly from their Online Store, sync their product catalogs, and launch Smart Shopping campaigns across various Google platforms, including Search, Images, Maps, YouTube, and Gmail. By taking advantage of these resources, small businesses can optimize their marketing efforts and enhance sales growth. Additionally, eligible customers can receive up to $150 in ads credit for their initial Smart Shopping campaigns.
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