Company shares significant progress against
revenue, profitability and free cash flow goals and provides
insights on its three-year strategy and outlook
TEMPE,
Ariz., March 6, 2024 /PRNewswire/ -- GoDaddy Inc.
(NYSE: GDDY) will host investors today at its Investor Day in
Tempe. The event will feature
presentations, technology demonstrations and commentary from senior
leaders on innovations for customers, as well as its plans for
profitable growth and operational excellence.
"This is a milestone moment for GoDaddy as we turbocharge our
solutions for small businesses worldwide with the transformational
power of generative AI," said Aman Bhutani, CEO of GoDaddy. "Our
focus remains balancing top-line growth and profitability to
deliver long-term value for our shareholders."
The presentations include live demonstrations of the recently
launched GoDaddy Airo™, an AI-powered solution that saves small
business owners precious time in establishing their online presence
and helps them win new customers.
Updated Financial Targets
GoDaddy will provide new three-year financial targets to help
investors and analysts model its business. The company expects:
- 6% to 8% annual revenue growth between 2024 to 2026, fueled by
acceleration in its Applications & Commerce segment;
- Approximately 33% full-year normalized EBITDA margin in 2026;
and
- $4.5 billion or more in
three-year cumulative free cash flow through 2026, with a capital
return strategy targeting a free cash flow per share compounded
annual growth rate of 20% plus through 2026.
"Building on our track record of expanding normalized EBITDA
margin 100 to 200 basis points each year for the last three years,
we plan to drive full-year normalized EBITDA margin of
approximately 33% in 2026," said Mark
McCaffrey, GoDaddy CFO. "Increasing free cash flow per share
over the long-term continues to be our North Star. We expect to
grow free cash flow per share at a compounded annual growth rate of
20% plus, supported by the expectation we will generate
$4.5 billion or more in three-year
cumulative free cash flow through 2026."
GoDaddy is committed to continuing to return capital to
shareholders. With $1.4 billion
remaining under current share authorizations, the company plans to
continue its share buyback program.
To join the event in progress, please register here. For the
replay and access to materials shared during GoDaddy's Investor
Day, please visit https://investors.godaddy.net.
About GoDaddy
GoDaddy helps millions of entrepreneurs
globally start, grow and scale their businesses. People come to
GoDaddy to name their idea, build a professional website, attract
customers, sell their products and services and accept payments
online and in-person. GoDaddy's easy-to-use tools help small
business owners manage everything in one place and its expert
guides are available to provide assistance 24/7. To learn more
about the company, visit www.GoDaddy.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on
estimates and information available to us at the time of this press
release and are not guarantees of future performance. Statements in
this press release involve risks, uncertainties and assumptions. If
the risks or uncertainties materialize or the assumptions prove
incorrect, our results may differ materially from those expressed
or implied by such forward-looking statements. All statements other
than statements of historical fact could be deemed forward-looking
statements, including, but not limited to any statements regarding:
our business outlook; launches of new or expansion of existing
products or services, including GoDaddy Airo™, any projections of
product or service availability, technology developments and
innovation, customer growth, or other future events; historical
results that may suggest future trends for our business; our plans,
strategies or objectives with respect to future operations,
partnerships and partner integrations and marketing strategy;
future financial results; our ability to integrate acquisitions and
achieve desired synergies and vertical integration; the expected
impact of our debt repricing; our future taxable income and ability
to realize our deferred tax assets; and assumptions underlying any
of the foregoing.
Actual results could differ materially from our current
expectations as a result of many factors, including, but not
limited to: the unpredictable nature of our rapidly evolving
market; fluctuations in our financial and operating results; our
rate of growth; interruptions or delays in our service or our web
hosting; our dependence on payment card networks and acquiring
processors; breaches of our security measures; the impact of any
previous or future acquisitions or divestitures; our ability to
continue to release, and gain customer acceptance of, our existing
and future products and services; our ability to deploy new and
evolving technologies, such as artificial intelligence, machine
learning, data analytics and similar tools, in our offerings; our
ability to manage our growth; our ability to hire, retain and
motivate employees; the effects of competition; technological,
regulatory and legal developments; intellectual property
litigation; the impact of our restructuring efforts; macroeconomic
conditions and developments in the economy, financial markets and
credit markets; continued escalation of geopolitical tensions; the
level of interest rates and inflationary pressures; the execution
of share repurchases; and our ability to remediate the identified
material weakness in our internal control over financial reporting
and to maintain effective internal control over financial
reporting.
Additional risks and uncertainties that could affect GoDaddy's
business and financial results are included in the filings we make
with the SEC from time to time, including those described in "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in our Annual Report on Form
10-K for the year ended December 31,
2023, which is available on GoDaddy's website at
https://investors.godaddy.net and on the SEC's website at
www.sec.gov, and any subsequent quarterly or annual report filed
with the SEC thereafter. Additional information will also be set
forth in other filings that GoDaddy makes with the SEC from time to
time. All forward-looking statements in this press release are
based on information available to GoDaddy as of the date hereof.
Except to the extent required by law, GoDaddy does not assume any
obligation to update the forward-looking statements provided to
reflect events that occur or circumstances that exist after the
date on which they were made.
Source: GoDaddy Inc.
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SOURCE GoDaddy Inc.