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GoDaddy Reports Strong Fourth Quarter and Full Year 2024 Results

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1 year 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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Best Accounting Software for Medium-Sized Business UK (2026): QuickBooks Advanced Recognised as a Scalable Finance Platform for UK Mid-Market Businesses by Consumer365

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1 day ago

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May 9, 2026

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NEW YORK, May 9, 2026 /PRNewswire/ — As demand for scalable financial tools grows, attention is shifting towards the best accounting software for medium-sized businesses in the UK in 2026, as organisations face increasingly complex accounting requirements. Consumer365 has recognised QuickBooks as a cloud-based platform supporting more structured financial management, reflecting a wider focus on improving automation, visibility, and compliance readiness.

Best Accounting Software for Medium-Sized Business UK

QuickBooks – developed as a cloud-based accounting platform, it enables medium-sized businesses to manage financial operations, automate core accounting processes, and maintain compliance with UK regulatory requirements.

Growing Demand for Scalable Financial Systems in the UK Mid-Market

Medium-sized businesses in the UK are operating in an environment where financial management is becoming increasingly complex. Growth introduces additional reporting layers, heightened regulatory expectations, and the need for consistent financial oversight across departments.

Traditional accounting methods are often no longer sufficient under these conditions. Spreadsheet-based systems and entry-level tools can struggle to deliver accurate, timely insights. This creates visibility gaps that can impact planning and decision-making.

QuickBooks has been identified within this context as a platform designed to support more structured financial management. Its positioning reflects a broader shift towards systems that centralise financial data and reduce fragmentation across business operations.

QuickBooks Positioned as a Scalable Financial Platform

QuickBooks operates as a cloud-based accounting system developed by Intuit. It is designed to support businesses that require more than basic bookkeeping functionality, focusing on helping organisations manage financial processes in a more connected and scalable way.

A key aspect of its design is the ability to consolidate financial information within a single system. This allows businesses to manage invoicing, expenses, reporting, and cash flow tracking without relying on multiple disconnected tools.

The platform is also structured to support growth. As businesses expand, financial operations often become more distributed across teams. QuickBooks enables multiple users to work within the same system while maintaining structured access controls, helping ensure consistency and oversight as complexity increases.

Financial Visibility, Automation, and Operational Control

One of the central functions of QuickBooks is improving financial visibility across business operations. Real-time data access allows organisations to monitor cash flow, expenses, and overall financial performance without waiting for end-of-period reporting cycles.

Automation plays a significant role in reducing manual workload. Financial processes such as invoicing, transaction categorisation, and expense tracking can be streamlined, reducing reliance on repetitive manual input and supporting more consistent financial records.

Operational control is reinforced through structured user permissions. Businesses can assign access levels based on roles, ensuring financial data is managed securely while still enabling collaboration across departments. This structure is particularly relevant for medium-sized organisations where multiple teams interact with financial systems.

Integration, Compliance, and System Connectivity

QuickBooks is designed to integrate with a range of business tools commonly used by UK organisations. These include payroll systems, customer relationship management platforms, and other operational software. This level of connectivity helps ensure that financial data remains consistent across systems.

Compliance is also a core part of the platform’s structure. UK businesses must meet specific regulatory requirements, including VAT reporting and Making Tax Digital standards. QuickBooks includes features that support these obligations within the system, reducing the need for manual compliance processes.

By aligning financial reporting with regulatory standards, the platform helps organisations maintain accurate records while reducing the administrative burden associated with tax and compliance requirements.

Operational Impact and Long-Term Financial Structure

As businesses grow, financial systems often become central to overall operational structure. Decisions related to hiring, investment, and expansion rely on access to accurate and timely financial data. Systems that lack integration or real-time visibility can slow decision-making and introduce inefficiencies.

QuickBooks supports a more structured approach by centralising financial information. This reduces fragmentation and helps ensure consistency across the organisation. It also supports continuity, minimising the need for frequent system changes as businesses scale.

The platform is designed to adapt to increasing complexity over time. As transaction volumes grow and reporting requirements expand, it remains stable while accommodating additional users and workflows.

This approach aligns with the needs of medium-sized businesses transitioning from smaller-scale operations to more advanced financial environments.

Market Context and Financial Management Trends

The recognition of QuickBooks reflects broader developments in financial technology adoption among UK medium-sized businesses. Organisations are increasingly prioritising systems that improve efficiency while reducing operational complexity.

Financial management is no longer limited to recordkeeping. It has become a core business function that influences strategic planning and overall performance. As a result, platforms that provide integrated financial oversight are becoming more relevant across a wide range of industries.

QuickBooks fits within this shift by offering a system that combines core accounting functionality with workflow automation and reporting capabilities. This supports businesses that require both day-to-day financial management and longer-term planning tools.

The emphasis on scalability also reflects changing expectations in the mid-market sector. Businesses are seeking platforms that can grow with them, rather than systems that need to be replaced as operational requirements evolve.

Conclusion

Consumer365 has recognised QuickBooks as a relevant financial platform for medium-sized businesses operating in the UK in 2026. The recognition highlights its focus on scalability, financial visibility, and structured operational control.

The platform is positioned to support organisations as they move beyond basic accounting systems and adopt more integrated financial management structures. Its emphasis on automation, compliance support, and system connectivity aligns with the operational needs of growing businesses.

As financial complexity continues to increase across the mid-market sector, tools that centralise financial data and support real-time decision-making are becoming more widely adopted. QuickBooks represents one of the platforms contributing to this shift towards more structured financial management approaches.

To read the full review, please visit the Consumer365 website.

About Intuit

Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.

About Consumer365.org: Consumer365 provides consumer news and industry insights. As an affiliate, Consumer365 may earn commissions from sales generated using links provided.

Disclaimer

Where AI content is used: This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, functionality are subject to change without notice.

General content disclaimer: This information is provided free of charge and is intended to be helpful to a wide range of businesses. Because of its general nature the information cannot be taken as comprehensive and they do not constitute and should never be used as a substitute for legal, accounting, tax or professional advice. Intuit cannot guarantee that the information applies to the individual circumstances of your business. Despite our best efforts it is possible that some information may be out of date.

Any reliance you place on information found on this site or linked to on other websites will be at your own risk. You should consider seeking the advice of independent advisers and should always check your decisions against your normal business methods and best practice in your field of business.

 

View original content:https://www.prnewswire.com/news-releases/best-accounting-software-for-medium-sized-business-uk-2026-quickbooks-advanced-recognised-as-a-scalable-finance-platform-for-uk-mid-market-businesses-by-consumer365-302766759.html

SOURCE Consumer365.org

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BOE continues to launch new products and solutions in the field of high-end displays

Published

2 days ago

on

May 9, 2026

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LOS ANGELES, May 9, 2026 /PRNewswire/ — 

1、Redefine Visual Experience with Scientific Standards! BOE Releases Core Research Findings on OLED Display Clarity-Legibility Index, Paving the Way for the Industry’s First Transparent Pro Standard to Deliver Supreme Visual Experience

With the rapid popularization of OLED display technology, basic screen indicators including resolution, color gamut and brightness keep improving. Meanwhile, display transparency — a core experience metric that determines visual comfort , image authenticity and premium visual quality — has drawn growing attention across the industry.

Recently, BOE has empowered the launch of the industry’s first flagship high-transparency OLED display panel, setting an industry-leading benchmark in four key dimensions: color, depth , clarity and dynamic range. It ushers high-end display into a new era, shifting from purely numerical technical specifications to ultimate user-centric visual experience.

In addition, BOE officially unveiled its in-depth research achievements on OLED display transparency. It has identified the core underlying factors affecting visual transparency through scientific research, pioneered the industry’s first display transparency index formula, and facilitated the release of the first authoritative evaluation standard for OLED display transparency. This marks an industry’s transformation from specs-oriented to experience-driven development. This marks a full-process breakthrough covering underlying technical analysis, scientifically guided image quality development and mass production application.

At present, the group standard 《Standard of Associations Organic light emitting diode display —Evaluation method for display clarity》, led and formulated by BOE based on relevant research outcomes, has been officially issued. As the world’s first dedicated evaluation standard focusing on OLED display transparency, it fills the long-standing industry gap in correlating subjective visual perception with objective image quality parameters.

Leveraging this standard and transparency research results, BOE has assisted partners in developing the industry’s first flagship high-transparency OLED screen. The company has built a comprehensive technical system for OLED visual transparency. Supported by cutting-edge technologies such as tandem, LTPO and high-precision Demura crosstalk optimization algorithms, BOE and its partners have carried out full-link optimization from display panels to end devices.

Going forward, BOE will continue to deepen research on display human factors engineering and visual experience. Through technological innovation and standard leadership, it will bring more ultimate, high-transparency premium display experiences to users worldwide.

2、BOE Beneficial “Natural” Light Technology (BNL): Solving Visual Health Pain Points and Leading the Display Industry Trend

In an era of ubiquitous displays, users are spending increasingly longer hours on screens. Nevertheless, the luminous properties of conventional displays poorly align with the human visual system, sparking widespread consumer concerns over visual health. To address such challenges, BOE draws inspiration from natural light. By deeply analyzing natural light and extracting beneficial features highly consistent with health and comfort, BOE established the Beneficial “Natural” Light Technology (BNL) architecture. Evolving from single technical upgrades to a systematic solution, BNL replicates the merits of natural light across four core dimensions: Depolarization Adjustment, Spectrum Optimization, Light Profile Optimization and Time-varying Adaptation, advancing display technology toward healthy viewing.

BNL & Visual Health

Depolarization Adjustment: The linearly polarized light of traditional displays causes targeted stimulation to retinal lutein, resulting in dry eyes, eyelid redness and other discomforts. Based on the mainstream Circular Polarization (QWP) solution, BOE BNL has developed a series of technologies like BSF/RDF Random Depolarization technology and un-Polarization，which convert linearly polarized light into randomly polarized light, enabling balanced lutein utilization across the entire visual field, and deliver natural-light-level eye protection.

Spectrum Optimization: Conventional narrow-band RGB spectra feature poor continuity and imbalanced energy distribution, with excessive high-energy blue light that induces eye strain and increases risks of macular damage. Beyond Low Blue Light solutions, BOE BNL has developed Natural-like Spectrum, Beneficial Red Light, Infrared Light and Circadian Rhythm technologies. Multiple clinical studies have verified that Beneficial Red Light and Infrared Light can effectively inhibit axial elongation and accelerate eye microcirculation.  BOE takes the lead in integrating such optics into displays，achieving a spectral distribution matching degree of over 60%, an energy ratio of Beneficial Red Light (650–670 nm) exceeding 50%, and independent on/off switching and energy adjustment of Infrared Light. Meanwhile, Circadian Rhythm technology regulates melatonin secretion to safeguard sleep quality. Shifting from passive harm reduction to active eye benefits, BOE BNL delivers all-round visual health protection.

Light Profile Optimization: Conventional screens are prone to surface reflection and glare, which interfere with visual recognition and cause cumulative eye fatigue. Powered by industry-leading Anti-Glare, Low Reflection and Wide Viewing Angle technologies, BOE BNL accurately simulates the diffuse reflection of natural light to deliver consistent visual comfort across diverse viewing angles. For instance, BOE UB Cell technology achieves a DGR value below 5 with negligible glare and reflection, ensuring sustained visual comfort.

Time-varying Adaptation: Conventional displays tend to produce low-frequency flicker and fixed brightness and color temperature that fail to adapt to ambient changes, forcing frequent eye muscle adjustments and leading to discomfort. By adopting Flicker Free and Light Self-adaptive technologies, BOE BNL delivers stable, ultra-smooth visuals that replicate the comfort of natural light.

SID 2026: BOE Launches New BNL Display Products

At SID Display Week 2026, BOE launched new BNL health display products. The highlight product is the industry’s first 13.8-inch BNL health display tablet. It integrates all four core dimensions，supported by 7 core BNL technologies， to deliver a healthy and comfortable visual experience.

As a global leader in the display industry, BOE has led the development and officially issued the world’s first “Natural Light” display standard via the Zhongguancun Standardization Association，and has jointly issued the White Paper on Natural Light Display Technologies (Engineering Considerations, Application Value and Challenges) with TÜV Rheinland to drive standardized and high-quality industrial development. In the future, BOE will continue to iterate on technologies, diversify product forms and application scenarios, advance the grading standards for Beneficial “Natural” Light displays, and protect users’ visual health.

View original content to download multimedia:https://www.prnewswire.com/news-releases/boe-continues-to-launch-new-products-and-solutions-in-the-field-of-high-end-displays-302767491.html

SOURCE BOE Technology Group Co., Ltd.

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Technology

BitradeX BXC First Two Subscription Rounds Sell Out, Total Subscriptions Exceed 14M USDT

Published

2 days ago

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May 9, 2026

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LONDON, May 9, 2026 /PRNewswire/ — BitradeX Capital’s ecosystem equity token, BXC, has completed its first and second subscription rounds, selling a total of 50 million BXC with subscriptions exceeding 14 million USDT. The first round sold out in 90 seconds, while the second closed within 48 hours.

While the fundraising size is not unusually large by crypto standards, the structure of the sale has attracted market attention. The first two rounds were not open to the public, but limited to high-tier BitradeX users. The first round was available only to V5 users and above, while the second round expanded access to V3 users and above.

According to BitradeX’s tier system, V3+ users typically have higher recurring investment activity through AiBot, longer platform usage history, and stronger ecosystem participation. This means the early BXC allocation was absorbed mainly by the platform’s internal high-value user base, rather than short-term speculative participants.

This approach differs from many token fundraising campaigns that prioritize broad public participation and market hype. BitradeX instead adopted a more selective, staged model, gradually lowering the participation threshold while keeping the sale within its active ecosystem community.

BXC is positioned as more than a standard platform token. Its value framework is linked to BitradeX Capital’s broader ecosystem, including its exchange business, AiBot quantitative strategies, BTX Card payments, and Labs incubation platform. Public information indicates that BXC holders may receive staking rewards, benefit from ecosystem buybacks and burns, and gain priority access to Launchpad projects and governance participation.

The third subscription round is launched on April 30 at $0.35 USDT per BXC, with a total supply of 100 million BXC. It is now open to users participating in AiBot recurring investment. The fourth round price is expected to rise to $0.45 USDT.

The long-term value of BXC will ultimately depend on the growth of BitradeX’s underlying businesses, including exchange profitability, AiBot user expansion, and BTX Card adoption. However, the rapid sellout of the first two rounds suggests that BitradeX’s core user base has already shown strong confidence in the ecosystem’s future.

View original content:https://www.prnewswire.com/news-releases/bitradex-bxc-first-two-subscription-rounds-sell-out-total-subscriptions-exceed-14m-usdt-302767467.html

SOURCE BitradeX Capital

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