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GoDaddy Reports Strong Fourth Quarter and Full Year 2024 Results

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2 years ago

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Company continues its track record of profitable growth and strong cash generation

TEMPE, Ariz., Feb. 13, 2025 /PRNewswire/ — GoDaddy Inc. (NYSE: GDDY) today reported financial results for the fourth quarter and full year that ended December 31, 2024.

“GoDaddy demonstrated strong operational execution and financial performance in 2024, making significant progress across our key strategic initiatives,” said GoDaddy CEO Aman Bhutani. “Looking ahead to 2025, we are excited to further innovate around GoDaddy Airo, enhance our integrated technology platform and create even more value for our customers.”

“GoDaddy delivered strong 2024 financial results and we have an exciting path ahead for continued shareholder value creation,” said GoDaddy CFO Mark McCaffrey. “We remain dedicated to executing on our strategy, optimizing topline growth and profitability to drive us toward our North Star of maximizing free cash flow over the long term.”

Full Year 2024 Business and Financial Highlights

Total revenue of $4.6 billion, up 8% year-over-year, on a reported and constant currency basis.Total bookings of $5.0 billion, up 9% year-over-year, and 10% on a constant currency basis.Net income of $936.9 million, down 32% year-over-year, representing a 20% margin. Net income for the year ended December 31, 2023 was inclusive of a non-routine, non-cash income tax benefit related to the release of the majority of our valuation allowance.Normalized EBITDA (NEBITDA) of $1.4 billion, up 23% year-over-year, representing a 31% margin.Net cash provided by operating activities of $1.3 billion, up 23% year-over-year.Free cash flow of $1.4 billion, up 25% year-over-year.Gross payments volume (GPV) from GoDaddy’s commerce offerings grew to $2.6 billion, up 55% year-over-year.

Fourth Quarter 2024 Business and Financial Highlights

Total revenue of $1.2 billion, up 8% year-over-year on a reported and constant currency basis.Total bookings of $1.2 billion, up 9% year-over-year on a reported and constant currency basis.Net income of $198.6 million, down 82% year-over-year, representing a 17% margin. Net income for the fourth quarter of 2023 was inclusive of a non-routine, non-cash income tax benefit related to the release of the majority of our valuation allowance.NEBITDA of $384.7 million, up 19% year-over-year, representing a 32% margin.Net cash provided by operating activities of $340.5 million, up 14% year-over-year.Free cash flow of $342.0 million, up 12% year-over-year.GoDaddy continued the feature set expansion of its AI-powered, business-in-a-box GoDaddy Airo® experience, including launching the Airo Plus tier, offering advanced logos and imagery, AI-powered marketing tools and enhanced WordPress site building capabilities.In support of the WordPress community and its contributors, GoDaddy donated $0.5 million to The WP Community Collective as well as launched a re-architected Managed WordPress Hosting platform, delivering enhanced performance, scalability and security.

Consolidated Fourth Quarter and Full Year Financial Highlights

Three Months Ended

December 31,

Year Ended

December 31,

2024

2023

Change

Constant
Currency

2024

2023

Change

Constant
Currency

(in millions, except customers in thousands and ARPU in dollars)

GAAP Results

Total revenue

$ 1,192.6

$ 1,100.3

8.4 %

8.5 %

$ 4,573.2

$ 4,254.1

7.5 %

7.5 %

Applications and commerce
revenue

$    441.2

$    377.4

16.9 %

$ 1,653.0

$ 1,430.4

15.6 %

Core platform revenue

$    751.4

$    722.9

3.9 %

$ 2,920.2

$ 2,823.7

3.4 %

International revenue

$    380.4

$    353.9

7.5 %

7.8 %

$ 1,459.8

$ 1,381.1

5.7 %

5.8 %

Net income(1)

$    198.6

$ 1,114.1

(82.2) %

$    936.9

$ 1,375.6

(31.9) %

Net cash provided by operating
activities

$    340.5

$    297.7

14.4 %

$ 1,287.7

$ 1,047.6

22.9 %

Segment EBITDA – A&C

$    206.2

$    164.8

25.1 %

$    739.3

$    594.2

24.4 %

Segment EBITDA margin – A&C

46.7 %

43.7 %

300 bps

44.7 %

41.5 %

320 bps

Segment EBITDA – Core

$    256.5

$    227.8

12.6 %

$    931.7

$    816.4

14.1 %

Segment EBITDA margin – Core

34.1 %

31.5 %

260 bps

31.9 %

28.9 %

300 bps

Non-GAAP Results(2)

Normalized EBITDA (NEBITDA)

$    384.7

$    324.2

18.7 %

$ 1,395.9

$ 1,134.5

23.0 %

NEBITDA margin

32.3 %

29.5 %

280 bps

30.5 %

26.7 %

380 bps

Unlevered free cash flow

$    379.0

$    346.6

9.3 %

$ 1,505.7

$ 1,254.2

20.1 %

Free cash flow

$    342.0

$    305.1

12.1 %

$ 1,355.5

$ 1,084.4

25.0 %

Operating and Business Metrics

Total bookings

$ 1,222.5

$ 1,123.9

8.8 %

8.9 %

$ 5,038.8

$ 4,603.1

9.5 %

9.7 %

Total customers at period end

20,511

21,026

(2.4) %

20,511

21,026

(2.4) %

Average revenue per user (ARPU)

$       220

$       203

8.4 %

$       220

$       203

8.4 %

Annualized Recurring Revenue
(ARR)

$ 4,042.6

$ 3,729.3

8.4 %

$ 4,042.6

$ 3,729.3

8.4 %

_______________________________

(1) Net income for the three months and the year ended December 31, 2024 includes $9.7 million and $39.4 million, respectively, in restructuring and other charges. In addition, the year ended December 31, 2024 includes a non-routine, non-cash benefit to income taxes of $267.4 million related to the conversion of our Desert Newco, LLC subsidiary from a partnership to a disregarded entity for U.S. income tax purposes. Net income for the year ended December 31, 2023 included a $971.8 million benefit for income taxes primarily due to a $1.0 billion release of the majority of our domestic valuation allowance during the fourth quarter.

(2) Reconciliations of our non-GAAP results to their most directly comparable GAAP financial measures are set forth in “Reconciliation of Non-GAAP Financial Measures” below.

Balance Sheet

At December 31, 2024, total cash and cash equivalents and short-term investments were $1.1 billion, total debt was $3.9 billion and net debt was $2.8 billion.

Debt Refinancing

In December 2024, GoDaddy entered into an amendment to its credit agreement to refinance $1.5 billion of term loans and secure an interest rate margin reduction of 0.25%.

Business Outlook

For the first quarter ending March 31, 2025, GoDaddy expects total revenue in the range of $1.175 billion to $1.195 billion, representing year-over-year growth of 7% at the midpoint, versus the same period in 2024. For the full year ending December 31, 2025, GoDaddy is targeting total revenue in the range of $4.860 billion to $4.940 billion, representing year-over-year growth of 7% at the midpoint, versus the $4.573 billion of revenue generated for the full year ended December 31, 2024.

For the first quarter ending March 31, 2025, GoDaddy expects Normalized EBITDA margin of approximately 30%. For the full year ending December 31, 2025, GoDaddy expects Normalized EBITDA margin expansion of approximately 100 basis points.

For the full year ending December 31, 2025, GoDaddy expects free cash flow of at least $1.500 billion, versus the $1.356 billion of free cash flow generated in 2024.

Modeling Guide

2025

Capital expenditures

~ $30 million

Cash interest on long-term debt

~ $150 million

Cash income taxes

~ $30 million

GoDaddy’s consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States (GAAP). GoDaddy does not provide reconciliations of forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP equivalents, because projections of changes in individual balance sheet amounts are not possible without unreasonable effort, and presentation of such reconciliations would imply an inappropriate degree of precision. For non-forward-looking non-GAAP measures, a reconciliation to the nearest GAAP equivalent is included in this press release following the financial statements.

Quarterly Earnings Webcast

GoDaddy will host a webcast to discuss fourth quarter and full year 2024 results at 5:00 p.m. Eastern Time on February 13, 2025. To participate in the webcast, please preregister online at https://investors.godaddy.net/investor-relations/overview/default.aspx. A live webcast of the event, together with a slide presentation including supplemental financial information and reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, will be available through GoDaddy’s Investor Relations website at https://investors.godaddy.net. A transcript of prerecorded remarks will be available on the Investor Relations website at the time of the webcast. Following the event, a recorded replay of the webcast will be available on the website.

GoDaddy uses its Investor Relations website at https://investors.godaddy.net as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, investors should monitor GoDaddy’s Investor Relations website, in addition to following press releases, Securities and Exchange Commission (SEC) filings, public conference calls and webcasts.

Forward-Looking Statements

This press release contains forward-looking statements which 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 forecasted levels of 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; and execution of share repurchases.

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 most recently filed period reports on Form 10-K and Form 10-Q, which are available on our website at https://investors.godaddy.net and on the SEC’s website at www.sec.gov. 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.

Non-GAAP Financial Measures and Other Operating and Business Metrics

In addition to our financial results prepared in accordance with GAAP, this press release includes certain non-GAAP financial measures and other operating and business metrics. We believe that these non-GAAP financial measures and other metrics are useful as a supplement in evaluating our ongoing operational performance and enhancing an overall understanding of our past financial performance. The non-GAAP financial measures included in this press release should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In addition, similarly titled measures may be calculated differently by other companies and may not be comparable. A reconciliation between each non-GAAP financial measure and its nearest GAAP equivalent is included in this press release following the financial statements. We use both GAAP and non-GAAP measures to evaluate and manage our operations.

Total bookings. Total bookings is an operating metric representing the total value of customer contracts entered into during the period, excluding refunds. We believe total bookings provides additional insight into the performance of our business and the effectiveness of our marketing efforts since we typically collect payment at the inception of a customer contract but recognize revenue ratably over the term of the contract.

Constant currency. Constant currency is calculated by translating bookings and revenue for each month in the current period using the foreign currency exchange rates for the corresponding month in the prior period, excluding any hedging gains or losses realized during the period. We believe constant currency information is useful in analyzing underlying trends in our business by eliminating the impact of fluctuations in foreign currency exchange rates and allows for period-to-period comparisons of our performance.

Normalized EBITDA (NEBITDA). NEBITDA is a supplemental measure of our operating performance used by management to evaluate our business. We calculate NEBITDA as net income excluding depreciation and amortization, interest expense (net), provision or benefit for income taxes, equity-based compensation expense, acquisition-related costs, restructuring-related expenses and certain other items. We believe that the inclusion or exclusion of certain recurring and non-recurring items provides a supplementary measure of our core operating results and permits useful alternative period-over-period comparisons of our operations. NEBITDA should not be viewed as a substitute for comparable GAAP measures.

NEBITDA margin. NEBITDA margin is used by management as a supplemental measure of our operating performance and refers to the ratio of NEBITDA to revenue, expressed as a percentage.

Unlevered free cash flow. Unlevered free cash flow is a measure of our liquidity used by management to evaluate our business prior to the impact of our capital structure and restructuring and after purchases of property and equipment. Such liquidity can be used by us for strategic opportunities and strengthening our balance sheet. However, given our debt obligations, unlevered free cash flow does not represent residual cash flow available for discretionary expenses.

Free cash flow. Free cash flow is defined as our unlevered free cash flow less interest payments for the period. We use free cash flow as a supplemental measure of our liquidity, including our ability to generate cash flow in excess of capital requirements and return cash to shareholders, though it should not be considered as an alternative to, or more meaningful than, comparable GAAP measures.

Net debt. We define net debt as total debt less cash and cash equivalents and short-term investments. Total debt consists of the current portion of long-term debt plus long-term debt and unamortized original issue discount and debt issuance costs. Our management reviews net debt as part of its management of our overall liquidity, financial flexibility, capital structure and leverage and we believe such information is useful to investors. Furthermore, certain analysts and debt rating agencies monitor our net debt as part of their assessments of our business.

Gross payments volume (GPV). GPV is an operating metric calculated by annualizing the total quarterly dollar value of transactions processed through our payments platform. GPV is representative of the volume of transactions in which we record transaction revenue based on our payment processing rate.

Annualized recurring revenue (ARR). ARR is an operating metric defined as annualized quarterly recurring GAAP revenue, net of refunds, from new and renewed subscription-based services. ARR is exclusive of any revenue that is non-recurring, including, without limitation, domain aftermarket, domain transfers, one-time set-up or migration fees and non-recurring professional website services fees. We believe ARR helps illustrate the scale of certain of our products and facilitates comparisons to other companies in our industry.

Average revenue per user (ARPU). We calculate ARPU as total revenue during the preceding 12 month period divided by the average of the number of total customers at the beginning and end of the period. ARPU is one measure that provides insight into our ability to sell additional products to our customers.

Total customers. We define a customer as an individual or entity, each with a unique account and paid transactions in the trailing twelve months or with paid subscriptions as of the end of the period. Total customers is one way we measure the scale of our business and can be a contributing factor to our ability to increase our revenue base. 

About GoDaddy

GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services, and accept payments. GoDaddy Airo®, the company’s AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy’s expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com.

 

GoDaddy Inc.
Consolidated Statements of Operations (unaudited)
(In millions, except shares in thousands and per share amounts)

Three Months Ended
December 31,

Year Ended
December 31,

2024

2023

2024

2023

Revenue:

Applications and commerce

$      441.2

$      377.4

$   1,653.0

$   1,430.4

Core platform

751.4

722.9

2,920.2

2,823.7

Total revenue

1,192.6

1,100.3

4,573.2

4,254.1

Costs and operating expenses(1):

Cost of revenue (excluding depreciation and amortization)

421.8

402.2

1,652.0

1,573.6

Technology and development

200.5

203.8

814.4

839.6

Marketing and advertising

91.8

84.6

356.9

352.9

Customer care

68.9

74.3

287.5

304.5

General and administrative

112.1

95.6

394.2

374.0

Restructuring and other

9.7

11.2

39.4

90.8

Depreciation and amortization

32.2

38.7

135.3

171.3

Total costs and operating expenses

937.0

910.4

3,679.7

3,706.7

Operating income

255.6

189.9

893.5

547.4

Interest expense

(38.1)

(43.6)

(158.3)

(179.0)

Loss on debt extinguishment

(1.5)

—

(4.6)

(1.5)

Other income (expense), net

10.3

1.2

34.8

36.9

Income before income taxes

226.3

147.5

765.4

403.8

Benefit (provision) for income taxes

(27.7)

966.6

171.5

971.8

Net income

198.6

1,114.1

936.9

1,375.6

Less: net income attributable to non-controlling interests

—

0.2

—

0.8

Net income attributable to GoDaddy Inc.

$      198.6

$   1,113.9

$      936.9

$   1,374.8

Net income attributable to GoDaddy Inc. per share of Class A common
stock:

Basic

$        1.40

$        7.88

$        6.63

$        9.27

Diluted

$        1.36

$        7.72

$        6.45

$        9.08

Weighted-average shares of Class A common stock outstanding:

Basic

141,694

141,418

141,250

148,296

Diluted

145,582

144,253

145,287

151,452

____________________________________

(1)   Costs and operating expenses include equity-based compensation expense as follows:

Cost of revenue

$            0.3

$            0.2

$           0.9

$           1.3

Technology and development

39.8

39.2

155.2

162.4

Marketing and advertising

8.0

6.9

30.9

27.9

Customer care

5.2

6.1

21.6

24.1

General and administrative

24.2

16.3

90.5

78.3

Restructuring and other

—

—

0.8

2.3

Total equity-based compensation expense

$          77.5

$          68.7

$        299.9

$        296.3

 

GoDaddy Inc.
Consolidated Balance Sheets (unaudited)
(In millions, except per share amounts)

December 31,

2024

2023

Assets

Current assets:

Cash and cash equivalents

$   1,089.0

$      458.8

Short-term investments

—

40.0

Accounts and other receivables

91.1

76.6

Registry deposits

34.5

37.3

Prepaid domain name registry fees

492.0

466.0

Prepaid expenses and other current assets

245.2

177.2

Total current assets

1,951.8

1,255.9

Property and equipment, net

156.4

185.3

Operating lease assets

49.4

60.8

Prepaid domain name registry fees, net of current portion

224.8

209.0

Goodwill

3,518.9

3,569.3

Intangible assets, net

1,055.8

1,158.6

Deferred tax assets

1,181.5

1,020.4

Other assets

96.8

105.6

Total assets

$   8,235.4

$   7,564.9

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable

$        81.6

$      148.1

Accrued expenses and other current liabilities

378.6

442.2

Deferred revenue

2,222.3

2,074.9

Long-term debt

15.9

17.9

Total current liabilities

2,698.4

2,683.1

Deferred revenue, net of current portion

883.2

802.4

Long-term debt, net of current portion

3,779.1

3,798.5

Operating lease liabilities, net of current portion

76.7

90.2

Other long-term liabilities

85.7

90.7

Deferred tax liabilities

20.2

37.8

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $0.001 par value

—

—

Class A common stock, $0.001 par value

0.1

0.1

Class B common stock, $0.001 par value

—

—

Additional paid-in capital

2,611.8

2,271.6

Accumulated deficit

(2,052.3)

(2,320.7)

Accumulated other comprehensive income

132.5

111.2

Total stockholders’ equity

692.1

62.2

Total liabilities and stockholders’ equity

$   8,235.4

$   7,564.9

 

GoDaddy Inc.
Consolidated Statements of Cash Flows (unaudited)
(In millions)

Year Ended
December 31,

2024

2023

Operating activities

Net income

$    936.9

$  1,375.6

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

135.3

171.3

Equity-based compensation

299.9

296.3

(Gain) loss on derivative instruments

(16.8)

(12.0)

Deferred taxes

(177.8)

(993.2)

Other

49.0

79.1

Changes in operating assets and liabilities, net of amounts acquired:

Prepaid domain name registry fees

(42.3)

(41.9)

Accounts payable

(65.5)

28.3

Accrued expenses and other current liabilities

0.3

56.2

Deferred revenue

235.4

149.2

Other operating assets and liabilities

(66.7)

(61.3)

Net cash provided by operating activities

1,287.7

1,047.6

Investing activities

Maturities (purchases) of short-term investments

40.0

(40.0)

Purchases of intangible assets

—

(35.4)

Purchases of property and equipment

(26.6)

(42.0)

Other investing activities, net

8.1

15.0

Net cash provided by (used in) investing activities

21.5

(102.4)

Financing activities

Proceeds received from:

Issuance of term loans

4,214.8

1,759.9

Stock option exercises

6.9

19.6

Issuance of Class A common stock under employee stock purchase plan

31.8

30.0

Payments made for:

Repurchases of Class A common stock

(676.5)

(1,270.2)

Repayment of term loans

(4,237.1)

(1,786.3)

Other financing obligations

(17.3)

(14.7)

Net cash used in financing activities

(677.4)

(1,261.7)

Effect of exchange rate changes on cash and cash equivalents

(1.6)

1.3

Net decrease in cash and cash equivalents

630.2

(315.2)

Cash and cash equivalents, beginning of period

458.8

774.0

Cash and cash equivalents, end of period

$  1,089.0

$    458.8

Reconciliation of Non-GAAP Financial Measures

The following tables reconcile each non-GAAP financial measure to its most directly comparable GAAP financial measure:

Three Months Ended
December 31,

Year Ended
December 31, 

2024

2023

2024

2023

NEBITDA and NEBITDA Margin:

(in millions)

Net income

$      198.6

$   1,114.1

$      936.9

$   1,375.6

Depreciation and amortization

32.2

38.7

135.3

171.3

Equity-based compensation expense(1)

77.5

68.7

299.1

294.0

Interest expense, net of interest income

28.0

40.2

130.4

155.4

Acquisition-related expenses, net of reimbursements

—

4.9

0.2

12.1

Restructuring and other(2)

20.7

24.2

65.5

97.9

Provision (benefit) for income taxes

27.7

(966.6)

(171.5)

(971.8)

NEBITDA

$      384.7

$      324.2

$   1,395.9

$   1,134.5

Net income margin

16.7 %

101.3 %

20.5 %

32.3 %

NEBITDA margin

32.3 %

29.5 %

30.5 %

26.7 %

_________________________________

(1)

The years ended December 31, 2024 and 2023 excludes $0.8 million and $2.3 million, respectively, of equity-based compensation expense associated with our restructuring plan, which is included within restructuring and other.

(2)

In addition to the restructuring and other in our statements of operations, other charges included are primarily composed of lease-related expenses associated with closed facilities, charges related to certain legal matters, adjustments to the fair value of our equity investments, expenses incurred in relation to the refinancing of our long-term debt and incremental expenses associated with professional services.

 

December 31,
2024

(in millions)

Net Debt:

Current portion of long-term debt

$             15.9

Long-term debt

3,779.1

Unamortized original issue discount and debt issuance costs

58.9

Total debt

3,853.9

Less: Cash and cash equivalents

(1,089.0)

Net debt

$        2,764.9

 

Three Months Ended
December 31,

Year Ended 
December 31, 

2024

2023

2024

2023

(in millions)

Free Cash Flow and Unlevered Free Cash Flow:

Net cash provided by operating activities

$      340.5

$      297.7

$   1,287.7

$   1,047.6

Capital expenditures

(14.4)

(4.0)

(26.6)

(42.0)

Cash paid for acquisition-related costs

0.1

0.8

16.2

11.2

Cash paid for restructuring and other charges(1)

15.8

10.6

78.2

67.6

Free cash flow

$      342.0

$      305.1

$   1,355.5

$   1,084.4

Cash paid for interest on long-term debt

37.0

41.5

150.2

169.8

Unlevered free cash flow

$      379.0

$      346.6

$   1,505.7

$   1,254.2

_________________________________

(1)

In addition to payments made pursuant to our restructuring activities, cash paid for restructuring and other charges includes lease-related payments associated with closed facilities, payments related to certain legal matters, incremental payments associated with professional services and third party payments incurred in relation to the refinancing of our long-term debt. For the year ended December 31, 2023, it also includes a payment related to the termination of a revenue sharing agreement.

Shares Outstanding

Total shares of common stock outstanding are as follows:

December 31,

2024

2023

(in thousands)

Shares Outstanding:

Class A common stock

141,208

142,051

Class B common stock(1)

—

259

Total common stock outstanding

141,208

142,310

Effect of dilutive securities(2)

3,888

2,599

    Total shares outstanding

145,096

144,909

_________________________________

(1)

As of December 31, 2024, following a series of transactions undertaken to simplify our capital structure, there are no longer any Class B shares outstanding. Shares of class B common stock were not participating securities and had no rights to share in our earnings.

(2)

Calculated using the treasury stock method, which excludes the impact of antidilutive securities.

Constant Currency

The following table provides a reconciliation of constant currency:

Three Months
Ended December
31, 2024

Year Ended
December 31,
2024

(in millions)

Constant Currency:

Revenue

$                1,192.6

$            4,573.2

Constant currency adjustment

1.2

1.1

Constant currency revenue

$                1,193.8

$            4,574.3

Bookings

$                1,222.5

$            5,038.8

Constant currency adjustment

1.7

11.0

Constant currency bookings

$                1,224.2

$            5,049.8

Source: GoDaddy Inc.

© 2025 GoDaddy Inc. All Rights Reserved.

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SOURCE GoDaddy Inc.

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COLUMBIA DISTRIBUTING COMPLETES ALASKA TRANSACTION WITH RNDC, ESTABLISHING A FOUR-STATE PACIFIC NORTHWEST TOTAL BEVERAGE PLATFORM

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October 26, 2026

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WILSONVILLE, Ore., Oct. 26, 2026 /PRNewswire/ — Columbia Distributing today announced it has completed its transaction with Republic National Distributing Company (RNDC) to acquire certain beverage distribution assets in Alaska, marking Columbia’s official entry into the state and completing the final component of the letter of intent announced by the companies in April.

The closing represents a major milestone in a long-term strategy Columbia set out to build: a multi-category, multi-state total beverage platform across the Pacific Northwest. With direct operations now spanning Alaska, Oregon, and Washington, along with its recently completed strategic partnership with Hayden Beverage in Idaho, Columbia has brought that vision to life, creating a connected four-state route to market and a more complete one-stop solution for supplier and retail partners across the region.

“This is a huge moment for Columbia because it represents exactly what we set out to build,” said Chris Steffanci, President and CEO of Columbia Distributing. “Our long-term vision has been to create the strongest total beverage platform in the Pacific Northwest—a multi-category, multi-state strategy that gives our partners a more complete solution across the region. With Alaska, that vision is now coming to life. We can offer suppliers and retailers a connected, capable, and increasingly seamless route to market across Alaska, Idaho, Oregon, and Washington.”

The Alaska transaction expands Columbia’s direct service territory to more than 835,000 square miles and adds nearly 1,500 customer accounts. It also brings Columbia into a market with an experienced local team, strong customer relationships, and an established beverage distribution network.

Columbia sees significant untapped potential in the Alaska business and plans to bring renewed investment, leadership, resources, and market focus to the state. The company will pair the Alaska team’s local knowledge and relationships with the culture and ways of working that drive Columbia’s performance in its existing markets, empowering people, moving with urgency, holding one another accountable, and maintaining a relentless focus on customers, brands, and execution.

“What has impressed me most is the energy and ambition of the Alaska team,” Steffanci said. “They know the market, they believe in the brands, and they are hungry to grow, compete, and win. They do not need us to teach them Alaska. Our responsibility is to give them the leadership, investment, tools, and support to show what they can do.”

“At Columbia, we trust our people, empower the teams closest to the market, and expect everyone to take ownership of results,” Steffanci continued. “That culture and the way we work across our company will bring new energy and momentum to Alaska. We are not entering the market to maintain the status quo—we are here to build, grow, compete, and raise the standard. This team is ready to be unleashed, and I believe the market is going to feel the difference very quickly.”

The expansion is the latest step in the deliberate strategy Columbia has pursued to build a broader total beverage business across multiple categories and markets. On June 30, the company completed its acquisition of certain RNDC wine and spirits distribution rights in Oregon and Washington. In September, Columbia completed a strategic partnership with Hayden Beverage, creating long-term alignment with Idaho’s leading locally based beverage distributor. The Alaska transaction completes the geographic footprint Columbia envisioned across the four-state Pacific Northwest market.

Together, these transactions create a platform designed around what suppliers and retailers increasingly need: one partner capable of representing multiple beverage categories across multiple states while still maintaining the local knowledge, relationships, and market-level execution required to succeed in each community.

Columbia’s expanded platform spans beer, wine, spirits, cider, non-alcoholic beverages, and emerging beverage categories. For supplier partners, it provides greater regional scale, category expertise, operational capabilities, and a more cohesive route to market. For retailers, it provides access to a broader portfolio backed by strong sales, delivery, merchandising, revenue management, and account execution capabilities.

“This is what total beverage means to us,” Steffanci added. “It is not simply adding categories or adding geography. It is about building a one-stop solution that connects categories, capabilities, people, and markets in a way that creates more value for our partners. We now have the platform we envisioned across the Pacific Northwest, and our focus turns to executing against that opportunity.”

Columbia is working closely with the Alaska team, suppliers, customers, and business partners to support a smooth transition. Columbia will communicate additional information about the operational transition, portfolio, and go-live timing directly to affected stakeholders.

Columbia appreciates RNDC’s partnership and the work of teams across both organizations to complete the transaction. Financial terms were not disclosed.

About Columbia Distributing

Since 1935, Columbia Distributing has helped build some of the best-known brands in the beverage business. Today, Columbia is one of the nation’s leading total beverage distributors, with a portfolio spanning beer, wine, spirits, cider, non-alcoholic beverages, and emerging beverage categories.

Columbia’s more than 3,200 teammates serve approximately 24,000 retail customers and deliver more than 80 million cases annually. With direct operations across Alaska, Oregon, and Washington and a strategic partnership with Hayden Beverage in Idaho, Columbia offers supplier and retail partners a connected four-state, multi-category route to market across the Pacific Northwest.

Columbia’s success is built on its people, its brands, and a deep-rooted commitment to execution, service, and creating sustainable growth for its teammates, customers, suppliers, shareholders, and communities. For more information, visit www.coldist.com.

Contact: Steve Gibbs
Steve.Gibbs@coldist.com | 206-920-6799

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SOURCE Columbia Distributing

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Secretary of the State Thomas Highlights Record Protecting Connecticut Businesses as Scams Grow More Sophisticated

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15 minutes ago

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October 26, 2026

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As early voting enters its final week, Secretary of the State Stephanie Thomas highlights her first-term record protecting Connecticut businesses, from fighting human trafficking and business hijacking to lowering fees and moving filings online, and pledges to keep business owners prepared as AI makes scams more sophisticated.

HARTFORD, Conn., Oct. 26, 2026 /PRNewswire-PRWeb/ — As scams targeting Connecticut businesses grow more sophisticated, including recent emails impersonating state offices, Secretary of the State Stephanie Thomas is highlighting the protections her team has put in place for the more than half a million businesses registered in Connecticut. She is seeking a second term to build on that work as AI-powered fraud creates new risks for business owners.

“If someone tries to steal your business, you’re not on your own. AI is making scams more sophisticated by the month, and I’ll keep making sure business owners know what to watch for.”

“Before I was Secretary of the State, I ran a small business, so I know how scarce time and money can be,” said Secretary Thomas. “That’s why our team cut fees and red tape, and why I fought for new laws that let my office investigate when fraudsters hijack a Connecticut business. If someone tries to steal your business, you’re not on your own. But the threats keep evolving. AI is making scams more sophisticated by the month, and I’ll keep making sure business owners know what to watch for. I’m not done delivering for Connecticut businesses, and I hope you’ll support me on November 3.”

Protecting Connecticut Businesses

Fighting human trafficking. Through Be a Light, Secretary Thomas made Connecticut the 7th state in the country and the first in the Northeast to help businesses identify, report and prevent human trafficking. Trafficking can reach any business through its customers, employees or supply chains. PreventHumanTraffickingCT.com gives owners practical guidance on what to watch for and what to do.

Stopping business hijacking. Fraudsters have stolen login credentials, changed a business’s listed owner and opened lines of credit in its name. Owners used to have only one remedy: hire a lawyer and go to court. Secretary Thomas brought the problem to the legislature. New laws now give her office the authority to investigate and the funding to build stronger protections, including screening that flags suspicious filings for human review.

Early warnings for owners. Business owners can turn on Follow Business alerts at Business.CT.gov to be notified whenever someone files a document for their business.

Lower costs, less red tape. Apostille fees are lower, and the entire process for authenticating documents for use abroad, used for about 40,000 documents a year, is now online. That makes Connecticut one of the first states to offer it. A new statewide trademark directory lets owners check a name before investing in it.

Help getting started and growing. A free monthly business newsletter gathers grants, funding and training opportunities in one place. A new Business Welcome Packet walks owners through their first steps, from tax IDs to fraud protection.

Early Voting Ends Sunday, Nov. 1

Early voting is open daily from 10 a.m. to 6 p.m. through Sunday, Nov. 1, with extended hours from 8 a.m. to 8 p.m. on Tuesday, Oct. 27 and Thursday, Oct. 29. There is no early voting on Monday, Nov. 2.

Every town has at least one early voting location. Voters can find theirs at MyVote.CT.gov or by contacting their town’s registrar of voters. Eligible residents who are not yet registered can register and vote the same day during early voting or on Election Day, Tuesday, Nov. 3, when polls are open from 6 a.m. to 8 p.m.

About Stephanie Thomas

Stephanie Thomas is Connecticut’s 75th Secretary of the State and the first Black person elected to the office. Since taking office in 2023, she has secured $20 million to modernize Connecticut’s election equipment, led the rollout of early in-person voting, expanded civic education through initiatives such as the Power of Civics platform and launched Be a Light, making Connecticut the first state in the Northeast to help businesses identify, report and prevent human trafficking.

Thomas is running for reelection in 2026. She serves on the Executive Board of the National Association of Secretaries of State and testified before Congress in 2025 about balancing voter access with election security.

Before becoming secretary, Thomas represented Norwalk, Wilton and Westport in the state legislature. She also ran a small business and spent nearly 30 years advising nonprofit organizations on strategy and fundraising.

Media Contact

Natasha Lopoukhine, Savvy Marketing Communications, 1 2039560920, natasha@igotsavvy.com, www.igotsavvy.com

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SOURCE Stephanie Thomas

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MNA: Berkshire VNA Nurses and Healthcare Professionals Deliver Petition Calling for a Fair Union Contract to Strengthen Patient Access to Home Care

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October 26, 2026

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While there has been bargaining progress on early-career wages, clinicians are urging BVNA to invest in experienced staff to support safe patient care

PITTSFIELD, Mass., Oct. 26, 2026 /PRNewswire/ — Berkshire Visiting Nurse Association (BVNA) nurses and healthcare professionals, represented by the Massachusetts Nurses Association (MNA), delivered a petition to BVNA management at 4 p.m. Monday, October 26, calling for a fair contract that supports recruitment, retains experienced clinicians and protects the time needed to care for patients safely at home. The parties next meet for bargaining on October 28.

The petition comes as the bargaining unit has shrunk by approximately half over the past several years amid high turnover and challenges attracting new staff. BVNA clinicians are seeking to reverse that decline to strengthen access to home care, help patients recover in familiar surroundings, and support timely hospital discharges.

“We appreciate that management has made progress toward attracting new staff by moving on wages for nurses and healthcare professionals early in their careers,” said Tamaryn Clowdus, physical therapist, and Co-Chair of the MNA Bargaining Committee at Berkshire VNA. “We also need reasonable cost-of-living increases for the experienced clinicians who have stayed with the VNA through difficult years. Building a stable workforce and supporting our home care patients requires a focus on both recruitment and retention.”

BVNA nurses and healthcare professionals provide care that helps patients manage illness, recover after hospitalization and remain safely at home. Experienced clinicians bring clinical judgment, knowledge of their communities and familiarity with patients’ needs. These are important community assets that are difficult to replace when staff leave.

With Berkshire Medical Center experiencing high patient volume, sufficient levels of home care staffing matters more than just the patients receiving visits. Ready access to home care can help patients who are ready to leave the hospital return home with the support they need, making more hospital beds available for people requiring acute care.

“Berkshire Medical Center nurses stand with our BVNA colleagues in their efforts to secure a fair contract that strengthens home care in Berkshire County,” said Sarah Roberts, RN, MNA Co-Chair at Berkshire Medical Center. “We see every day how much our patients depend on having care available when they return home. Supporting the clinicians who provide that care helps patients leave the hospital safely and keeps beds available for others who need acute care.”

The BVNA petition also calls for reasonable and achievable productivity expectations developed with clinicians and grounded in the realities of home care. A visit involves more than time spent in a patient’s home. Clinicians must also document care, coordinate services, communicate with providers and families, and travel between patients.

MassNurses.org │ Facebook.com/MassNurses │ Twitter.com/MassNurses │ Instagram.com/MassNurses 

Founded in 1903, the Massachusetts Nurses Association is the largest union of registered nurses in the Commonwealth of Massachusetts. Its 26,000 members advance the nursing profession by fostering high standards of nursing practice, promoting the economic and general welfare of nurses in the workplace, projecting a positive and realistic view of nursing, and by lobbying the Legislature and regulatory agencies on health care issues affecting nurses and the public.

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SOURCE Massachusetts Nurses Association

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