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#GoDaddy reports Q4/2020 earnings with 1.4 million new customers for 2020

GoDaddy has reported financial results for the fourth quarter (Q4/2020) and year ended December 31, 2020.

“2020 was a really strong year for our business despite the obvious challenges, as our customers proved once again to be resourceful entrepreneurs and successfully pivoted to expand their online presence,” said GoDaddy CEO Aman Bhutani.

“We are confident that our 2021 plans to drive innovation and growth will not only bring more everyday entrepreneurs to the GoDaddy ecosystem, but will also help our existing customers achieve new heights of individual success.”

Some financial highlights:

  • Total revenue of $873.9 million, up 12.0% year over year, on a reported and constant currency basis.
  • Total bookings of $943.1 million, up 13.1% year over year, on a reported and constant currency basis.
  • Net cash provided by operating activities of $165.9 million, up 2.3% year over year.
  • Unlevered free cash flow of $181.1 million, up 1.9% year over year.
  • Customers of 20.6 million at December 31, 2020, up 7.1% year over year.
  • ARPU of $166, up 5.1% year over year.
  • Domains revenue of $402.2 million, up 14.2% year over year.
  • Hosting and Presence revenue of $308.8 million, up 5.5% year over year.
  • Business Applications revenue of $162.9 million, up 20.4% year over year.
  • International revenue of $293.2 million, up 12.2% year over year, or 12.3% on a constant currency basis.

Some business updates:

  • GoDaddy’s Chief Financial Officer, Ray Winborne, and Chief Legal Officer, Nima Kelly, also announced their intention to retire in 2021. Both leaders are committed to a seamless transition to their respective successors, and will remain in their roles throughout that process.
  • GoDaddy completed the Poynt acquisition in February 2021, giving the company a head start in integrating a set of products that span the full spectrum of commerce enablement. This acquisition brings payment capabilities as a payment facilitator and value to customers through its innovative point of sale terminals, inventory management software, loyalty management tools, and more.
  • GoDaddy welcomed nearly 1.4 million net new customers in 2020, the largest annual net customer growth in the company’s history, excluding the year in which HEG was acquired.
  • GoDaddy sees strong growth in its commerce offering within Websites + Marketing and in Sellbrite with GMV growth of 75% across all platforms nearing $7 billion.
  • Websites + Marketing, GoDaddy’s website and marketing suite, launched freemium options in select markets, resulting in millions of sign-ups with strong conversion rates.
  • GoDaddy introduced new Websites + Marketing templates and tools to make it easier than ever for entrepreneurs to quickly start selling their products online.
  • GoDaddy introduced new tools across Websites + Marketing to power easy promotion of highlighted products and offers across the website and in organic social posts via streamlined integrations.
  • GoDaddy invested aggressively in marketing in 2020, generating high incremental returns on both bookings and gross profit.
  • For the third year in a row, The Human Rights Campaign awarded GoDaddy a perfect score in its 2021 Corporate Equality Index.
  • In January 2021, GoDaddy launched The Hub, by GoDaddy Pro, allowing website designers and developers to perform their work in WordPress, a platform they know, in a simple, intuitive way that saves them time and money.

For more information visit this link.

Disclosure: We currently hold a small position in GDDY stock. This information is not an endorsement or advice.


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