- GoDaddy announced that 2022 revenue was up 7%, cash provided by operating activities was up 18%, and free cash flow was up 13%.
- GoDaddy stated that in 2023 the company plans to launch its commerce offerings empowering customers to transact everywhere seamlessly.
- The company also stated that solid 2022 results are demonstrating the company’s resiliency in its business.
Web hosting solutions provider GoDaddy reported financial results for the fourth quarter and full year that ended December 31, 2022. The company also announced its outlook for the first quarter of 2023 and for the full year. The company’s CEO, Aman Bhutani also hinted that in 2023, the company will launch multiple commerce offerings to make it easier for customers to transact everywhere seamlessly.
Fourth quarter and full year
The company delivered strong financial results for the full year and will continue to invest in long-term initiatives to fuel future growth. GoDaddy’s full-year 2022 business highlights are:
- Total revenue of $4.1 billion, up 7.2% year-over-year, and 8.4% on a constant currency basis.
- Total bookings of $4.4 billion, up 4.3% year-over-year, and 6.0% on a constant currency basis.
- Net Income of $352.9 million, up 45.3% year-over-year.
- Normalized EBITDA of $1.0 billion, up 16.1% year-over-year, representing a 25% margin.
- Net cash provided by operating activities of $979.7 million, up 18.1% year-over-year.
Between January 1, 2022, and February 1, 2023, the company repurchased 17.2 million shares of its common stock for an aggregate purchase price of $1.3 billion and an average price per share of $77.11.
GoDaddy also announced its expectations for the next quarter and full year 2023. The company expects total revenue of $1.030 billion to $1.050 billion, which equals year-over-year growth of 4% at the midpoint. For the full year, the company targets total revenue of $4.250 billion to $4.325 billion, representing a 5% year-over-year growth at the midpoint. Aman Bhutani, CEO of GoDaddy said,
« GoDaddy achieved strong revenue and cash flow growth in 2022, despite macroeconomic headwinds. During the year we delivered an innovative product roadmap, including enabling commerce on every surface. As we enter 2023, we are excited about the full launch of our commerce offerings empowering customers to transact everywhere seamlessly. We are proud of the track record we are building to participate in our customers’ success and drive long-term value for shareholders. »