GoDaddy Q2 2021 results: revenue up 15.5%, domain revenue up 18.2%

GoDaddy Q2 2021 results: revenue up 15.5%, domain revenue up 18.2%

GoDaddy Inc. (NYSE: GDDY) today reported financial results for the second quarter ended June 30, 2021.

“We’re pleased with the strong quarter, and we’re even more excited about the incredible journey we see ahead for GoDaddy,” said GoDaddy CEO Aman Bhutani. “With strong secular tailwinds and great products on the way, we’re excited to do more for Everyday Entrepreneurs than we’ve ever been able to do before.”

“GoDaddy is a special place with an incredible vision, and I’m thrilled to be a part of it,” said GoDaddy CFO Mark McCaffrey. “There’s an immense long-term opportunity, and GoDaddy has the resources and people we need to pursue that opportunity in a way that serves our customers and creates value for shareholders.”   

Consolidated Second Quarter Financial Highlights

Three Months Ended June 30,

Six Months Ended June 30,

2021

2020

Change

2021

2020

Change

(in millions)

GAAP Results

Revenue

$

931.3

$

806.4

15.5

%

$

1,832.4

$

1,598.4

14.6

%

Net cash provided by operating activities

$

209.4

$

168.1

24.6

%

$

430.7

$

401.4

7.3

%

Net income (loss)

$

46.9

$

(673.2)

NM

$

57.7

$

(630.0)

NM

Non-GAAP Results

Unlevered free cash flow

$

237.0

$

185.9

27.5

%

$

505.3

$

420.4

20.2

%

Operating Metric

Total bookings

$

1,054.8

$

936.3

12.7

%

$

2,143.5

$

1,887.4

13.6

%

 

  • Total revenue of $931.3 million, up 15.5% year over year, or 14.3% on a constant currency basis.
  • Total bookings of $1,054.8 million, up 12.7% year over year, or 10.6% on a constant currency basis.
  • Net cash provided by operating activities of $209.4 million, up 24.6% year over year.
  • Unlevered free cash flow of $237.0 million, up 27.5% year over year.
  • Domains revenue of $436.7 million, up 18.2% year over year.
  • Hosting and presence revenue of $318.5 million, up 9.0% year over year.
  • Business applications revenue of $176.1 million, up 21.8% year over year.
  • International revenue of $317.2 million, up 19.2% year over year, or 15.8% on a constant currency basis.

Business Highlights

  • Introduced GoDaddy Payments – a new payments solution that enables Websites + Marketing and Managed WordPress WooCommerce customers to handle all of their commerce transactions directly through GoDaddy.
  • Announced an integration with Google allowing GoDaddy’s customers to display their product inventory directly within Google Search, Shopping, Image Search, and YouTube for free.
  • GoDaddy further enhanced Facebook advertising capabilities, allowing its customers to create and manage Facebook and Instagram ad campaigns directly within their GoDaddy dashboard.
  • Launched GoDaddy Studios, a rebranding of the Over content creation platform, with enhanced functionality and expanded use cases. Customers can now create eye-catching website images and visuals with GoDaddy Studio’s advanced image creation and editing for their entire online presence.
  • GoDaddy introduced a Job Postings function within Websites + Marketing to help small businesses struggling to staff newly re-opened businesses.
  • Released its GoDaddy Pro brand in India to help increase the opportunities for web designers and developers with our tools and services, which are custom-built to help web pros increase efficiency and grow their clientele.
  • In June, GoDaddy published its inaugural Environmental, Social & Governance, or ESG, report. Our ESG report outlines GoDaddy’s strategies, activities, metrics and performance progress towards building a more sustainable future for our operations, customers, employees and the planet.
  • During Q2, GoDaddy repurchased nearly 1 million shares for an aggregate purchase price of $81 million, with approximately $1 billion remaining under current authorizations.

Balance Sheet

At June 30, 2021, total cash and cash equivalents were $1,375 million, total debt was $3,937 million and net debt was $2,562 million.

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Original article: GoDaddy Q2 2021 results: revenue up 15.5%, domain revenue up 18.2%

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