Curious about GoDaddy net worth? This article covers everything from its market cap to the financial performance behind its growth.
We will explore how revenue is generated, dissect its segments, and offer an overview of its position within the financial sector. Dive in to get a complete picture with Ando Money.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | GoDaddy Inc. |
| Full Name | GoDaddy Inc. |
| Website | https://www.godaddy.com |
| Industry | Internet Services, Domain Registration, Web Hosting |
| Traded as | NYSE: GDDY |
| ISIN | N/A |
| Founded | 1997 |
| Founders | Bob Parsons |
| Country/Territory | USA |
| Headquarters | Tempe, AZ |
| Chief Executive Officer | Aman Bhutani |
| Number of Employees | Amanpal S. Bhutani |
| Market Cap | $21.96 Billion |
| Total Assets | $7.722 Billion |
| Total Equity | $157 Million |
| Revenue | $1.124 Billion (Q2 2024) |
| Net Income | $146.3 Million (Q2 2024) |
What is the Net Worth/Market Cap Of GoDaddy in 2024?
GoDaddy’s market cap in 2024 stands at an impressive $21.96 billion, placing it among the world’s most valuable companies.
This number reflects GoDaddy’s solid performance, positioning it strongly compared to other notable entities in the domain and web hosting industry.
When considering its financial size, it’s also valuable to compare GoDaddy with other industry players. These include:
- Shopify
- Wix.com
- Squarespace
- Bluehost
- Namecheap
- HostGator
- WordPress.com
- Weebly
- 1&1 Ionos
- Network Solutions
For those looking to see how GoDaddy’s net worth stacks up against the world’s leading brands, you can explore more on the largest global companies.
GoDaddy Financial Performance Overview
Revenue Breakdown and Growth Trends
GoDaddy’s total revenue for Q2 2024 stands at $1.124 billion, showing a solid 7% year-over-year growth.
This growth demonstrates its ability to consistently expand across its services, both in the Applications & Commerce (A&C) and Core Platform segments.
Importantly, the A&C segment significantly boosts overall revenue, growing at a faster rate than the Core Platform, with both contributing effectively to the company’s revenue streams.
With over $2.233 billion in revenue for the first half of 2024, GoDaddy showcases a robust growth trajectory.
Applications & Commerce (A&C) Segment Performance
The A&C segment, which includes various commerce applications and marketing tools, generated $405.6 million in revenue in Q2 2024, representing a 15% year-over-year increase.
This impressive growth within the A&C segment indicates how vital these products are to GoDaddy’s overall success.
Additionally, the Annualized Recurring Revenue (ARR) for A&C stood at $1.5 billion, emphasizing its contribution to stable and predictable revenue.
With the launch of new features such as GoDaddy Airo™, the company’s AI-powered experience, the A&C segment continues to flourish.
Core Platform and Its Financial Role
The Core Platform, which consists of domains, hosting, and associated services, contributed $718.9 million to GoDaddy’s revenue in Q2 2024.
While this segment grew at a slower rate (3% YoY), it remains a vital part of the company’s foundation. The Core ARR was approximately $2.3 billion, reflecting its significance in providing a steady income stream.
Continuous improvement in domain services, hosting, and the introduction of new technologies are expected to enhance the Core Platform’s financial role further.
Customer Base and Revenue Per User
GoDaddy ended Q2 2024 with 20.9 million customers, maintaining a consistent user base. The Average Revenue Per User (ARPU) grew to $210 compared to $199 in 2023, representing a 5.5% increase.
This rise in ARPU is pivotal as it showcases GoDaddy’s ability to increase the value of its offerings and capitalize on cross-selling opportunities within its customer base.
Enhancing products and tools for small businesses has been an ongoing strategy to boost customer revenue.
Share Repurchases and Impact on Financial Health
Share repurchases are a strategic part of GoDaddy’s financial playbook. Up until July 30, 2024, the company repurchased 4.1 million shares for a total of $520.8 million, at an average price of $126.35 per share.
This move reduced fully diluted shares by approximately 23% since January 2022.
These buybacks improve shareholder value by consolidating ownership and reinforcing confidence in the company’s financial future.
Balance Sheet Overview and Financial Position
GoDaddy’s balance sheet reflects a solid financial position. With $444.9 million in cash and cash equivalents, the company maintains liquidity for operational needs and growth investments.
Total debt stands at $3.9 billion, with a net debt of $3.4 billion. GoDaddy’s assets are valued at $7.722 billion, with a considerable portion being goodwill and intangible assets.
The company’s financial strategy includes a prudent mix of debt and equity, allowing flexibility and stability.
Free Cash Flow and Operational Efficiency
GoDaddy reported a free cash flow of $323.4 million in Q2 2024, a 35% year-over-year increase. This highlights the company’s efficiency in operations and ability to generate cash after capital expenditures.
The unlevered free cash flow reached $368.7 million, emphasizing GoDaddy’s strong operational health.
The company has set a free cash flow target of at least $1.3 billion for the full year, showcasing its emphasis on maintaining a strong financial cushion.
Debt Refinancing and Financial Strategy
In May 2024, GoDaddy took strategic steps to refinance its debt by securing a $1 billion tranche of term loans, extending maturity to 2031.
This move lowered interest expenses, optimizing the company’s financial strategy for long-term sustainability.
The debt refinancing efforts are anticipated to reduce annual cash interest by approximately $25 million, allowing GoDaddy to better allocate its resources towards innovation and growth.
Outlook for Revenue and Financial Performance
For the full year 2024, GoDaddy anticipates revenue to be between $4.525 billion and $4.565 billion, a projected 7% growth year-over-year.
The NEBITDA margin is expected to be approximately 29%, with the fourth quarter potentially reaching around 31%.
Such figures point to a strong financial performance, with a focus on sustainable growth and profitability through product enhancement and customer value.
FAQs About GoDaddy
How is GoDaddy Generating Its Revenue?
Its revenue comes mainly from its Applications & Commerce and Core Platform segments, providing domain services, hosting, and commerce applications.
How Many Customers Does GoDaddy Have?
As of Q2 2024, GoDaddy had 20.9 million customers globally.
What is GoDaddy’s Financial Goal for 2024?
It aims for revenue between $4.525 billion and $4.565 billion, and an unlevered free cash flow of at least $1.45 billion.
How Does GoDaddy Manage Its Debt?
GoDaddy refinanced its debt in May 2024, extending maturity to 2031, and reducing annual cash interest by $25 million.
What is GoDaddy’s Approach to Share Repurchases?
In 2024, it repurchased 4.1 million shares, which decreased the total shares outstanding and enhanced shareholder value.
Conclusion
If you’re intrigued by GoDaddy’s financial growth, don’t hesitate to share your thoughts in the comments!
For more insightful content on finances and company analysis, visit Ando Money.
