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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.
GoDaddy
GoDaddy
GoDaddy Revenue by Segment
Revenue by Segment
Applications & Commerce Revenue
CapyFin.com 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.
- Presentation of such reconciliations would imply an inappropriate degree of precision.
- Forward-looking statements are subject to risks and uncertainties.
- Actual results could differ materially from current expectations due to various factors.