Summary
GoDaddy closed fiscal 2024 with fourth quarter revenue of $1.19 billion, up 8.4% from the prior-year quarter. Full year revenue reached $4.57 billion, up 7.5% year over year. Operating income rose to $255.6 million in the quarter, up 34.6%, and to $893.5 million for the full year, up 63.2%. Operating margin expanded to 21.4% in the quarter, up 4.2 percentage points, and to 19.5% for the full year, up 6.7 percentage points. The profit gains came despite a sharp drop in net income. Fourth quarter net income was $198.6 million, down 82.2%, and full year net income was $936.9 million, down 31.9%. The decline reflects a prior-year non-routine, non-cash income tax benefit. Full year diluted EPS was $6.45, down $2.63 or 29.0%.
Cash generation remained a highlight. Operating cash flow was $340.5 million in the quarter, up 14.4%, and $1.29 billion for the full year, up 22.9%. Capital expenditures were $14.4 million in the quarter, up 260.0%, and $26.6 million for the full year, down 36.7%. Free cash flow, a non-GAAP measure, was $342.0 million in the quarter, up 12.1%, and $1.4 billion for the full year, up 25%. Normalized EBITDA, another non-GAAP measure, was $384.7 million in the quarter, up 18.7%, and $1.4 billion for the full year, up 23%. Deferred revenue was $2.22 billion, up 7.1%, and remaining performance obligations were $3.11 billion, up 7.9%. Those balances support visibility into future revenue.
Operational metrics showed mixed trends. Total bookings were $1.2 billion in the quarter, up 8.8% year over year, and $5.0 billion for the full year, up 9.5%. Annualized recurring revenue was $4,042.6 million, up 8.4%. Total customers at period end were 20,511, a decline from the prior year. The customer decline stems from divestitures, migrations and end-of-life products. Customer retention was approximately 84% for 2024, a slight reduction from approximately 85% in each of the four prior years. Gross payments volume from commerce offerings grew to $2.6 billion, up 55%. GoDaddy continued expanding its AI-powered Airo experience, including the Airo Plus tier, and launched a re-architected Managed WordPress Hosting platform.
Guidance points to continued growth. For the first quarter ending March 31, 2025, GoDaddy expects revenue of $1.175 billion to $1.195 billion, representing 7% growth at the midpoint versus the same period in 2024. For the full year ending December 31, 2025, the company targets revenue of $4.860 billion to $4.940 billion, representing 7% growth at the midpoint versus the $4.573 billion generated in 2024. First quarter 2025 normalized EBITDA margin is expected at approximately 30%. Full year 2025 normalized EBITDA margin expansion is expected at approximately 100 basis points. Full year 2025 free cash flow is expected to be at least $1.500 billion, versus $1.356 billion in 2024. The 2025 modeling guide includes capital expenditures of $30 million, cash interest on long-term debt of $150 million and cash income taxes of $30 million.
Risks and capital structure remain in focus. In December 2024, GoDaddy refinanced a portion of its term loans and secured an interest rate margin reduction of 0.25%. The company recorded restructuring and other charges in the quarter and full year. Management lists risks including macroeconomic conditions, interest rates, inflation, competition, security breaches, dependence on payment card networks and the deployment of new technologies such as artificial intelligence. The customer count decline and retention pressure remain watch items. GoDaddy also continues to invest in AI-powered products and platform integration, which could affect monetization trends.
Forecast
Reported figures
GAAP, from SEC filings| Metric | Q4 FY2024 | Q3 FY2024 | QoQ | Q4 FY2023 | YoY |
|---|---|---|---|---|---|
| Revenue | $1.19B | $1.15B | +3.9% | $1.10B | +8.4% |
| General & administrative | $112.1M | $94.8M | +18.2% | $95.6M | +17.3% |
| Total operating expenses | $937.0M | $893.8M | +4.8% | $910.4M | +2.9% |
| Operating income (loss) | $255.6M | $253.8M | +0.7% | $189.9M | +34.6% |
| Operating margin | 21.4% | 22.1% | -0.7 pp | 17.3% | +4.2 pp |
| Net income (loss) | $198.6M | $190.5M | +4.3% | $1.11B | -82.2% |
| Net margin | 16.6% | 16.6% | +0.0 pp | 101.3% | -84.6 pp |
Risks
GoDaddy's total customers at period end decreased to 20,511 thousand at December 31, 2024 from 21,026 thousand at December 31, 2023, and domains under management decreased to 81,013 thousand from 83,554 thousand. The filing also reports a customer retention rate of approximately 84%, a slight reduction from approximately 85% in each of the four prior years, attributed to divestitures, migrations and end-of-life products.
GoDaddy is increasingly using AI, including Airo and generative AI, and faces risks of intellectual property infringement, privacy, cybersecurity, accuracy, bias, and evolving AI regulation such as the E.U. AI Act and laws adopted in Colorado and California. Competitors are also investing in AI, and failure to develop or adopt AI products could harm reputation and competitive position.
GoDaddy says it has experienced an increase in social engineering attacks and sophisticated phishing campaigns, and threat actors are using AI to find new vulnerabilities. An actual or perceived incident could disrupt services, expose customer data, trigger litigation or government investigations, and exceed insurance coverage.
A substantial portion of GoDaddy's cloud infrastructure is provisioned through AWS, and AWS may terminate the agreement for cause or suspend services. Any AWS disruption, capacity constraint, or inability to arrange alternative cloud infrastructure could interrupt products, harm reputation, and reduce revenue.
GoDaddy Payments and payments-related operations are subject to money transmission, consumer protection, anti-money laundering, sanctions, and payment card network rules. Violations or ineffective risk management could lead to fines, holdbacks, loss of card acceptance, or restrictions on the payments business.
Macroeconomic conditions such as higher interest rates, inflation, recession, or economic slowdown could reduce demand from entrepreneurs and small businesses, increase refunds and chargebacks, and make forecasting difficult. The filing says inflationary pressures continue in certain areas of the business.
International revenue represented approximately 32% of total revenue in 2024, and GoDaddy has operations in higher risk regions including India, China, and Ukraine. Geopolitical events, sanctions following Russia's invasion of Ukraine, tariffs, and regulatory changes could impair growth and operating results.
GoDaddy has changed pricing models and price points and expects to do so in the future; MD&A says pricing and bundling initiatives drove bookings and A&C revenue growth in 2024. If pricing changes or competitor discounts cause customer losses or require price reductions, results could be harmed.
Long-term debt agreements contain covenants restricting indebtedness, liens, mergers, asset sales, restricted payments, and other actions, and as of December 31, 2024 GoDaddy had $998.7 million available under the Revolver. A covenant breach or inability to refinance could limit flexibility and affect liquidity.
GoDaddy remediated the material weakness in income taxes and related disclosures identified for 2023, and management and its auditor determined internal control over financial reporting was effective as of December 31, 2024. A future material weakness could require restatement, cause reporting failures, and lead to regulatory or stockholder actions.
Future performance depends on senior management and key employees, and competition for highly skilled technical personnel is intense in hubs such as the San Francisco Bay Area, Seattle, and Austin. U.S. immigration limits, including H-1B visa caps, and stock price declines could hinder hiring and retention.
GoDaddy relies on partners such as Microsoft for Microsoft 365 email, and on PayPal, Stripe, Block, and Mercado Libre for payment options. If partners fail to create or maintain integrations, change terms adversely, or increase fees, demand could decline and costs could rise.
Domain names may become less prominent as businesses rely on social media platforms such as Meta, TikTok, Snapchat, X, and WeChat, and as alternative systems for directing Internet traffic emerge. If GoDaddy cannot integrate with these applications or devices, it may lose market share.
SaaS KPIs
All quarters →Total bookings
Unlevered free cash flow
Free cash flow
Average revenue per user (ARPU)
Total customers at period end
NEBITDA margin
Annualized Recurring Revenue (ARR)
Normalized EBITDA (NEBITDA)
Summary, forecast, risks and KPIs are extracted from GoDaddy Inc.'s SEC filings for Q4 FY2024 (10-Q / 10-K and the 8-K earnings release); GAAP figures in the summary are checked against the reported XBRL data. They can contain errors; the filings are authoritative. Processed Oct 2, 2026.