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Sep 30, 2024
GoDaddy Q3 2024 Earnings Report
GoDaddy's Q3 2024 financial results were released, showcasing profitable growth, strong cash generation, and share repurchases.
Key Takeaways
GoDaddy reported a solid third quarter with total revenue of $1.15 billion, up 7% year-over-year, and net income of $190.5 million, up 45% year-over-year. The company continues to roll out its innovative GoDaddy Airo™ AI-powered experience.
Total revenue reached $1.15 billion, a 7% increase year-over-year.
Applications and Commerce (A&C) revenue grew by 16% year-over-year, reaching $423.1 million.
Core Platform revenue totaled $724.5 million, a 3% increase year-over-year.
Net income increased by 45% year-over-year, reaching $190.5 million.
GoDaddy
GoDaddy
GoDaddy Revenue by Segment
Revenue by Segment
Applications & Commerce Revenue
CapyFin.com Forward Guidance
GoDaddy raised its revenue expectations to a range of $4.545 billion to $4.565 billion for the full year ending December 31, 2024, representing year-over-year growth of 7% at the midpoint. GoDaddy expects total revenue in the range of $1.165 billion to $1.185 billion for the fourth quarter ending December 31, 2024.
Positive Outlook
- Revenue expectations raised to $4.545B - $4.565B for full year 2024.
- Year-over-year revenue growth of 7% expected.
- NEBITDA margin expected to be approximately 30%.
- A&C revenue growth in the mid-teens.
- Unlevered free cash flow target raised to at least $1.475 billion.
Challenges Ahead
- Projections of changes in individual balance sheet amounts are not possible without unreasonable effort.
- Macroeconomic conditions and developments in the economy, financial markets and credit markets.
- Continued escalation of geopolitical tensions.
- The level of interest rates and inflationary pressures.
- Ability to remediate the identified material weakness in internal control over financial reporting and to maintain effective internal control over financial reporting.