GoDaddy Inc. (NYSE: GDDY) reported their fourth quarter and full year ended December 31, 2022 earnings today. After hours 79.53 −1.51 (1.86%)
2022 Revenue up 7%; Cash Provided by Operating Activities up 18%; Free Cash Flow up 13%; Announced Partnership Agreement with FIS Worldpay
Full Year 2022 Business Highlights
- Total revenue of $4.1 billion, up 7.2% year-over-year, and 8.4% on a constant currency basis.
- Total bookings of $4.4 billion, up 4.3% year-over-year, and 6.0% on a constant currency basis.
- Net Income of $352.9 million, up 45.3% year-over-year.
- Normalized EBITDA of $1.0 billion, up 16.1% year-over-year, representing 25% margin.
- Net cash provided by operating activities of $979.7 million, up 18.1% year-over-year.
- Free cash flow of $968.6 million, up 13.2% year-over-year.
- Unlevered free cash flow of $1.1 billion, up 14.2% year-over-year.
- Through February 1, 2023, share count reduced 10% 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 in the fourth quarter.
- ARR from GoDaddy’s Create and Grow group of products, which includes Websites + Marketing, Managed WordPress, Sellbrite, and GoDaddy Studios, surpassed $445 million, growing 8% year-over-year in the fourth quarter of 2022.
- Drove strong growth in its Commerce offerings with gross merchandise volume of $28 billion, up 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 in the fourth quarter.