GoDaddy press release (NYSE:GDDY): Q4 GAAP EPS of $7.85 beats by $6.80.
Revenue of $1.1B (+5.8% Y/Y) in-line.
Total bookings of $1.1 billion, up 7% year-over-year, and 6% on a constant currency basis.
Net income of $1.1 billion, inclusive of non-routine items, up 1,107% year-over-year, representing a 103% margin.
NEBITDA of $324.2 million, up 22% year-over-year, representing a 29% margin.
Net cash provided by operating activities of $297.7 million, up 43% year-over-year.
Free cash flow of $305.1 million, up 51% year-over-year.
Gross payments volume, or GPV, from GoDaddy's commerce offerings grew to an impressive $1.7 billion, up 125% year-over-year. Gross merchandise volume was $36 billion, up 26% year-over-year.
Business Outlook
For the first quarter ending March 31, 2024, GoDaddy expects total revenue in the range of $1.085 billion to $1.105 billion, vs. consensus of $1.10B, representing year-over-year growth of 6% at the midpoint, versus the same period in 2023. For the full year ending December 31, 2024, GoDaddy is targeting total revenue in the range of $4.480 billion to $4.560 billion, vs. consensus of $4.55B, representing year-over-year growth of 6% at the midpoint, versus the $4.25 billion of revenue generated for the full year ended December 31, 2023.
For the first quarter ending March 31, 2024, GoDaddy expects Normalized EBITDA margin of 27%. For the full year ending December 31, 2024, GoDaddy expects Normalized EBITDA margin of approximately 29%, with a fourth quarter Normalized EBITDA margin of approximately 31%.
For the full year ending December 31, 2024, GoDaddy expects unlevered free cash flow of at least $1.4 billion, versus the $1.3 billion of unlevered free cash flow generated in 2023. GoDaddy expects free cash flow of at least $1.2 billion, versus the $1.1 billion of free cash flow generated in 2023.