GoDaddy Reports 3rd Quarter 2022 Financial Results.

TEMPE, Ariz: GoDaddy Inc. (NYSE: GDDY) today reported financial results for the third quarter ended September 30, 2022.

"GoDaddy delivered solid results in the third quarter despite macroeconomic headwinds and foreign exchange rate pressure," said GoDaddy CEO Aman Bhutani. "Our market leadership, our strong customer retention and the increased value we deliver through product innovation enable us to weather the current economic environment from a position of strength. We look forward to finishing the year with a continued commitment to execute against our strategic priorities."

"GoDaddy delivered another $1 billion revenue quarter, along with 2% year-over-year growth in net income and 15% year-over-year growth in operating profit," said GoDaddy CFO Mark McCaffrey. "While foreign exchange rates and general macro headwinds are likely to remain a challenge in the near term, we remain confident in our ability to drive durable, compounding top and bottom line growth over the long-term based on our recurring revenue model and robust free cash flow."

Consolidated Third Quarter Financial Highlights

Three Months Ended

September 30,

Nine Months Ended

September 30,

2022

2021

Change

Constant

Currency

2022

2021

Change

(dollars in millions)

GAAP Results:

Total Revenue

$ 1,033.2

$ 964.0

7.2 %

8.8 %

$ 3,051.4

$ 2,796.4

9.1 %

Applications & commerce revenue

$ 326.0

$ 289.6

12.6 %

$ 946.3

$ 827.8

14.3 %

Core platform revenue

$ 707.2

$ 674.4

4.9 %

$ 2,105.1

$ 1,968.6

6.9 %

International revenue

$ 332.6

$ 319.7

4.0 %

8.9 %

$ 993.2

$ 940.0

5.7 %

Net cash provided by operating activities

$ 269.9

$ 226.4

19.2 %

$ 771.7

$ 657.1

17.4 %

Net income

$ 100.0

$ 97.7

2.4 %

$ 259.1

$ 155.4

66.7 %

Non-GAAP Results:

Normalized EBITDA (NEBITDA)

$ 262.7

$ 227.7

15.4 %

$ 747.0

$ 618.2

20.8 %

Applications & commerce NEBITDA

$ 135.6

$ 115.0

17.9 %

$ 387.2

$ 324.2

19.4 %

Core platform NEBITDA

$ 202.1

$ 173.9

16.2 %

$ 578.9

$ 481.7

20.2 %

Unlevered free cash flow

$ 296.6

$ 251.5

17.9 %

$ 857.7

$ 756.8

13.3 %

Operating Metric:

Total bookings

$ 1,087.0

$ 1,038.1

4.7 %

6.7 %

$ 3,362.2

$ 3,181.6

5.7 %

Business Highlights

Annualized recurring revenue (ARR) for applications and commerce grew 10% year-over-year to $1.3 billion in the third quarter.

ARR for core platform grew 2% year-over-year to $2.3 billion in the third quarter.

GoDaddy drove continued positive momentum in attachment of GoDaddy Payments within Websites + Marketing and Managed WordPress.

GoDaddy achieved solid growth in...