The following is a summary of the GoDaddy Inc. (GDDY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• GoDaddy reported Q1 total revenue of $1.1 billion, a 7% growth on reported and constant currency basis.

• The Applications & Commerce segment delivered $383 million in revenue, growing 13%.

• A strong free cash flow of $327 million was reported.

• Core platform revenue was $725 million, growing 4%, largely from demand in domains and aftermarket.

• Subscription revenue saw a 2% growth.

• Unlevered free cash flow rose 18% to $359 million, and free cash flow increased 26% to $327 million.

Business Progress:

• The company expanded its free cash flow by 26% due to growth in the Applications and Commerce segment and disciplined margin expansion.

• GoDaddy launched GoDaddy Smart Terminal Flex, a handheld device allowing customers to make payment on the move, and successfully rolled out GoDaddy Airo to improve customer experiences.

• GoDaddy bought back 2.8 million shares by April 30, reducing gross shares by 22% since the start of the authorization.

• Full year guidance has been revised to $4.5 billion to $4.56 billion revenue, representing a 6.5% growth at midpoint.

• GoDaddy aims to scale their cloud infrastructure and has partnered with WorldPay to expand their product offering.

More details: GoDaddy IR

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