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GoDaddy CEO Scott Wagner on Q1 2019 Results--Earnings Call Transcript.
Q1 2019 Results excerpts:
- Total revenue of $710.0 million, up 12.1% year over year, or approximately 13.6% on a constant currency basis.
- Total bookings of $870.5 million, up 11.2% year over year, or approximately 13.5% on a constant currency basis.
- Net cash provided by operating activities of $199.7 million, up 34.6% year over year.
- Unlevered free cash flow of $198.8 million, up 22.4% year over year.
- Customers of 18.8 million, up 6.4% year over year.
- Average revenue per user (ARPU) of $150, up 8.5% year over year.
- Domains revenue of $319.6 million, up 9.6% year over year.
- Hosting and Presence revenue of $268.9 million, up 12.1% year over year.
- Business Applications revenue of $121.5 million, up 19.5% year over year.
- International revenue of $245.1 million, up 8.2% year over year, or approximately 12.2% on a constant currency basis.
- GoCentral, GoDaddy's website builder, and Managed WordPress continue to see robust subscription growth, driven by feature expansion and improvements in awareness.
- GoDaddy acquired Sellbrite, a world-class multi-channel eCommerce suite, to broaden its tools in eCommerce channel syndication, advanced inventory management and fulfillment.
- GoDaddy launched support for digital downloads, enabling customers to sell music, e-books, videos, art and other content in online stores.
- After strong reception in Brazil and Mexico, GoDaddy launched its Open-Xchange powered business email offering for customers in India.
- GoDaddy launched "Connections," a customer management tool that helps entrepreneurs organize and engage with their audience.
- In February, GoDaddy surpassed four million customers in its EMEA region.
- GoDaddy acquired CoBlocks and ThemeBeans, continuing its investment in the WordPress ecosystem.
- GoDaddy completed a secondary offering of 8.5 million shares of its Class A common stock sold by certain of its stockholders at $75.40 per share in February 2019, increasing the publicly available float.
- In March, GoDaddy's credit rating was upgraded by Moody's to Ba2, reducing the margin on its debt to 200 basis points from 225 basis points.
Business Outlook: For the full year 2019, GoDaddy expects revenue in the range of $2.97 billion to $3.00 billion, representing full-year growth of 12% to 13%. For the second quarter ending June 30, 2019, GoDaddy expects revenue of $730 million to $740 million.
Editor's note: due to the 'miss' on analysts consensus on revenue and EPS, $GDDY shares are down in after hours trading 2 May 2019.
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