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Sep 30, 2020
GoDaddy Q3 2020 Earnings Report
GoDaddy experienced a strong third quarter, marked by accelerated growth in bookings and revenue, and a significant increase in net new customers.
Key Takeaways
GoDaddy reported a strong Q3 2020 with revenue of $844.4 million, up 11% year-over-year. The company added over 400,000 net new customers this quarter and over 1 million in 2020 to date. GoDaddy also saw accelerated growth in bookings and revenue across all three product categories.
Total revenue reached $844.4 million, an 11.0% increase year-over-year (or 11.2% on a constant currency basis).
Total bookings amounted to $945.0 million, reflecting an 11.0% increase year-over-year (or 11.2% on a constant currency basis).
Unlevered free cash flow was $223.9 million, up 17.0% year-over-year.
Over 1 million net new customers were added in 2020.
Revenue by Geographic Location
Forward Guidance
For the fourth quarter ending December 31, 2020, GoDaddy expects revenue of approximately $865 million, or approximately 11% year over year growth. For the full year, GoDaddy expects unlevered free cash flow of approximately $820 million, representing full year growth of 11% versus 2019.
Positive Outlook
- Revenue is expected to be approximately $865 million, representing approximately 11% year-over-year growth.
- Domains revenue growth is expected to approximate double-digit growth.
- Business Applications revenue growth is expected to approximate high-teens growth.
- Hosting and Presence revenue growth is expected to approximate mid-single-digit growth.
- Full year unlevered free cash flow is expected to be approximately $820 million, representing full year growth of 11% versus 2019.
Challenges Ahead
- 2020 includes 27 pay periods versus 26 in a normal year, resulting in an incremental cash outflow of approximately $18 million in the fourth quarter.
- 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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