GoDaddy Inc. (NYSE: GDDY), reported financial results for the third quarter ended September 30, 2017.
“GoDaddy delivered yet another great quarter, with continued strong growth in customers, revenue and cash flow,” said GoDaddy CEO Blake Irving.
“As I look to my retirement from the CEO seat at the end of the year, I couldn’t be prouder of what the team has accomplished. Revenue has grown at a compounded annual growth rate of 19% over the last four years, we now serve more than 17 million customers around the world, and we’ve built a world-class team and culture, that under the leadership of Scott Wagner, will continue to deliver amazing things for our customers for years to come.”
Consolidated Third Quarter Financial Highlights
- Total revenue of $582.2 million, up 23.3% year over year, or 23.6% on a constant currency basis.
- Total bookings of $668.0 million, up 25.0% year over year, or 24.7% on a constant currency basis.
- Net cash provided by operating activities of $131.4 million, up 31.8% year over year.
- Unlevered free cash flow of $137.2 million, up 43.5% year over year.
- Customers were 17.1 million at quarter end, up 17.7% year over year, including the contribution from HEG.
- Average revenue per user (ARPU) of $134, up 5.1% year over year.
- Domains revenue of $271.5 million, up 14.8% year over year.
- Hosting and Presence revenue of $225.9 million, up 29.8% year over year.
- Business Applications revenue of $84.8 million, up 38.1% year over year.
- International revenue of $198.1 million, up 51.0% year over year, or 51.8% on a constant currency basis, including the contribution from HEG.
Business Highlights
- GoDaddy announced the early release of Pro Managed WordPress, a new hosting platform designed specifically for WordPress web professionals, bundling high-performance and highly-reliable hosting, with end-to-end security, and the essential tools necessary to efficiently manage multiple clients and websites.
- GoDaddy’s GoCentral is seeing continued strong adoption, increasing conversion from free to paid, positive customer feedback and rising net promoter scores, all while we continue to rapidly add new features.
- GoDaddy launched TrustedSite, a new website security certification, to enable small businesses to better protect their online customers.
- GoDaddy completed a secondary offering of 20 million shares of its Class A common stock sold by certain of its stockholders at $44.00 per share in September 2017, increasing the publicly available float.
- In August, GoDaddy closed the sale of PlusServer and paid off the associated €500 million bridge loan with proceeds and cash on hand.
Balance Sheet
At September 30, 2017, total cash, cash equivalents and short-term investments were $553.3 million, total debt was $2,488.6 million and net debt was $1,935.3 million.
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