2024-02-13 22:34:03 ET
GoDaddy, Inc. (GDDY)
Q4 2023 Earnings Conference Call
February 13, 2024, 17:00 PM ET
Company Participants
Christie Masoner - Vice President, Investor Relations
Aman Bhutani - Chief Executive Officer
Mark McCaffrey - Chief Financial Officer
Conference Call Participants
Naved Khan - B. Riley
Zach Morrissey - Wolfe Research
Vikram Kesavabhotla - Baird
Matthew Pfau - William Blair
Clarke Jeffries - Piper Sandler
Ygal Arounian - Citigroup
Ken Wong - Oppenheimer
Elizabeth Porter - Morgan Stanley
John Byun - Jefferies
Chris Kuntarich - UBS
Ella Smith - JP Morgan
Presentation
Christie Masoner
Good afternoon, and thank you for joining us for GoDaddy's Fourth Quarter and Annual 2023 Earnings Call. I'm Christie Masoner, VP of Investor Relations. And with me today are Aman Bhutani, Chief Executive Officer; and Mark McCaffrey, Chief Financial Officer. Following prepared remarks, we will open up the call for your questions. [Operator Instructions]
On today's call, we'll be referencing both GAAP and non-GAAP financial measures and other operating and business metrics. A discussion of why we use non-GAAP financial measures and reconciliations of our non-GAAP financial measures to their GAAP equivalents may be found in the presentation posted to our Investor Relations site at investors.goddady.net or in today's earnings release on our Form 8-K furnished at the SEC. Growth rates presented represent year-over-year comparisons, unless otherwise noted.
The matters we'll be discussing today include forward-looking statements such as those related to future financial results and our strategies or objectives with respect to future operations. These forward-looking statements are subject to risks and uncertainties that are discussed in detail in our periodic SEC filings. Actual results may differ materially from those contained in forward-looking statements. Any forward-looking statements that we make on this call are based on assumptions as of today, February 13, 2024. And except to the extent required by law, we undertake no obligation to update these statements because of new information or future events.
With that, I'm pleased to introduce Aman.
Aman Bhutani
Good afternoon, and thank you all for joining us today. At GoDaddy, our mission is to empower entrepreneurs and make opportunity more inclusive for all. Our strategy centers on creating customer value, driving profitable growth resulting in compounding free cash flow per share and long-term shareholder value. Our focus remains on margin expansion and growth in our Applications and Commerce segment.
2023 was a pivotal year for us and I am pleased with our financial and operational results. Innovation accelerated as we brought together our technology capabilities into a unified technology stack, enabling us to launch our compelling GoDaddy Airo experience.
We also drove 2023 normalized EBITDA margin ahead of our guidance as we balanced investment in growth and cost structure management. Full year normalized EBITDA margin increased approximately 200 basis points, resulting in a 12% increase in free cash flow and a 21% increase in free cash flow per share....
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GoDaddy, Inc. (GDDY) Q4 2023 Earnings Call Transcript