The world’s largest cloud platform, GoDaddy, which supports independent ventures, has come out with its complete financial report for the fourth quarter for 2017.
Speaking on the occasion, CEO, Scott Wagner said, “GoDaddy turned in another great quarter – with strong customer, revenue and cash flow growth – solidifying our leadership position as the place people go to start their ideas, grow and thrive online. We see nice momentum heading into 2018 and are confident that our value proposition to our customers will enable us to continue to deliver growth at scale.”
Some important statistics as published in the financial report are:
1. Total revenue was accounted at $602.2 million, which is up 23.9% on a yearly basis.
2. Net Cash was accounted at $104.3 million, which increased by 17.1% this year.
3. Total bookings were recorded at $657.9 million, which was up by 25.4 % as compared to the previous year.
4. International revenue grew by 52.9% YOY and was accounted at $207.3 million.
The company saw a continuous movement of customers from a free version to a paid version, which also generated a strong positive feedback from its customers. GoDaddy has been consistently enhancing the features of GoCentral, which was evident from the fact that it recently launched an online appointment scheduling system, blogging capabilities and many other features.
The company has also announced an acquisition of Main Street Hub for a potential $125 million in an all-cash transaction. There will be an additional buying of $50 million in potential future earn outs. There were additions in the leadership positions, with the company appointing Mar Garrett as a member of its board. Mark Garrett is the Executive Vice President and Chief Financial Officer at Adobe, and he comes with a strong experience of financial technology, which will be a valuable addition to the board.
GoDaddy also completed an offering of 7.2 million shares of its Class A common stock. On December 31, 2017, the total cash and cash equivalents along with short-term investments were accounted at $595 million. The total debt was at $2.5 billion and net debt was $1.9 billion.
The company is expected to record a total revenue of $620 million to $625 million for the quarter ending on March 31, 2018.