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Mar 31, 2022
GoDaddy Q1 2022 Earnings Report
GoDaddy's Q1 2022 earnings were released, demonstrating strong financial results with revenue up 11%.
Key Takeaways
GoDaddy reported a strong start to 2022, with revenue up 11% year-over-year to $1.0027 billion. The company launched a $750 million accelerated share repurchase program and announced an additional $250 million share repurchase plan. GoDaddy Payments adoption continues to show strength.
Total revenue increased by 11.3% year-over-year to $1,002.7 million.
Applications & commerce revenue grew by 15.7% to $303.1 million.
Core platform revenue increased by 9.5% to $699.6 million.
Net income increased significantly to $68.6 million, compared to $10.8 million in the same quarter last year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
GoDaddy provided guidance for the second quarter ending June 30, 2022, and the full year ending December 31, 2022.
Positive Outlook
- Second quarter revenue is projected to be in the range of $1.01 billion to $1.02 billion, representing approximately 9% year-over-year growth.
- Applications & commerce revenue growth is expected to be in the range of 14% to 16% for the second quarter.
- Core platform revenue growth is expected to be in the range of 5% to 7% for the second quarter.
- Normalized EBITDA for the second quarter is targeted to be in the range of $232 million to $237 million, representing approximately 18% year-over-year growth.
- Full year revenue is projected to be in the range of $4.14 billion to $4.16 billion, representing approximately 9% year-over-year growth.
Challenges Ahead
- Guidance does not provide reconciliations from non-GAAP guidance to GAAP.
- Projections of changes in individual balance sheet amounts are not possible without unreasonable effort.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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