#GoDaddy reported Q4/2021 and full year financial results

GoDaddy reported its Q4/2021 and full year financial results, hitting it out of the park: 2021 Full Year Revenue Growth of 15%, Bookings Growth of 12%.

At December 31, 2021, total cash and cash equivalents were $1,255.7 million, total debt was $3,921.2 million and net debt was $2,665.5 million.

“GoDaddy delivered strong financial results in 2021, including generating over $1 billion in quarterly revenue for the first time in the company’s history,” said GoDaddy CFO Mark McCaffrey. “We’re also pleased to announce a $3 billion share repurchase plan, with the intent to launch a $750M accelerated share repurchase in the first quarter of 2022.”

Business highlights:

  • Annualized recurring revenue (ARR) from GoDaddy’s “Create and Grow” group of products, which includes Websites + Marketing, Managed WordPress, Sellbrite, and GoDaddy Studios, surpassed $410 million, growing 19% year over year in the fourth quarter of 2021.
  • GoDaddy’s Websites + Marketing ARR grew more than 20% year over year in the fourth quarter of 2021.
    The commerce tier of GoDaddy’s Websites + Marketing ARR grew 24% year over year in the fourth quarter of 2021.
  • GoDaddy sees strong growth in its commerce offerings with gross merchandise volume (GMV) of $26 billion, up 21% year over year on a proforma basis.

The biggest part is the outlook for 2022:

  • For the first quarter ending March 31, 2022, GoDaddy expects total revenue in the range of $985 million to $990 million, representing year over year growth of 10% at the midpoint, versus last year.
  • For the full year ending December 31, 2022, GoDaddy expects total revenue in the range of $4.14 billion to $4.16 billion, representing year over year growth of 9% at the midpoint, versus the $3.82 billion of revenue generated in 2021.
  • GoDaddy expects unlevered free cash flow of approximately $1.1 billion, representing growth of 15%, year over year, versus the $960 million of unlevered free cash generated in 2021.

Full report here.

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