GDDY - Earnings call transcript Q2 2019

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Operator

Good morning. My name is Chris, and I will be your conference operator today. At this time, I would like to welcome everyone to the GoDaddy Q2 2019 Earnings Conference Call. [Operator Instructions]. Thank you. of and President begin you Vice conference. your Kemp, Investor Strategy, Relations may Sam

Samuel Kemp

questions. welcome the Second Chief some Chief then to Conference and GoDaddy will and afternoon, Good GoDaddy's share is who Scott, call me Winborne, Financial open joining are we'll Aman Aman Ray Ray Bhutani, Call. our Quarter and today Scott Officer. Officer; prepared Wagner, next for remarks, Executive as Chief up Officer; Executive With Earnings XXXX and

that be will September answering strategy, Given not X, Scott all to until will as CEO Aman starting related financials. and be operations Ray and questions

A with of presentation at reconciliations in we'll or Form On found their non-GAAP of non-GAAP use measures Relations total call, results to unlevered earnings why and website Investor and GAAP filed metrics measures financial SEC be our today's ARPU. may and bookings, our investors.godaddy.net non-GAAP GAAP be net equivalents financial release. discussion referencing financial both flow, free the posted we as on such with cash operating our and today's debt to the X-K

Unless which measures execute the today our of leadership otherwise measures, Street to refer to our product and be Main we'll The today. future include statements, transition introductions excluding those Hub. results, matters related include ability impact financial to referring forward-looking stated, discussing when announced innovations our we're we those organic to earlier and

from undertake and to details events. to of call this as are materially update a subject in X, on XX-Q statements new on risks quarter discussed August uncertainties second information based as make we today result differ these are actual statements future no forward-looking of XXXX, our that and We Any are obligation or in results. may assumptions

With that, here's Scott.

Scott Wagner

Sam. to for everyone joining Thanks today. us Thanks,

Board GoDaddy deserve I the on past know can't level health. pace importantly, I've shareholders a a honored a everyone health This The me drive, X-plus to facing going focus really, Board commitment and what same really smooth me for to Directors, family with years worked a talking maintain my for afternoon, that, next my me, and Aman of most and announced CEO, make forward. tremendous customers, I'm GoDaddy's methodically I change employees to introduce I the transition. lay we challenges and in that unfortunately, had groundwork and and have after successor tough the to of decision to this GoDaddy's GoDaddy's energy, identify for Bhutani. require As for been first to was but XXX%

experience Aman and led. record great in organization in mindset experience business, going strong exceptional and in and fit brings to GoDaddy's leader customer expertise engineering he's Aman in scaled values to consistently to growing a strong culture every company and wealth of is the with scale across product both created track the followings future. bring go-to-market and at and into lead skills, GoDaddy. conversion. Aman our has delivery deep is an and Extraordinary a

Group leading Expedia Expedia senior analogous and entire up here serve highly company. to highly four and many built successful brands. multiple team. complementary GoDaddy, has He's the Wotif that areas he's we're has the to leadership that Brand and insurance and and He's been in technology teams product past are at on advertising President existing focused what Travelocity, Aman the Orbitz, For businesses of led years, eBookers Expedia's our

with hello So everyone. Aman to say to that, here's Aman?

Amanpal Bhutani

than power a serve our have is empowerment for the call. everyday customer opportunity to more the and look I the the and stands mission, to forward employee. person here This to many our be you everyone on of GoDaddy's entrepreneur. meeting I and am of philosophical hello the brand in of bringing to the soon. what Thanks, Scott, spirit the and so technology one excited from GoDaddy much I love businesses, humanity to teams to that to dynamic in GoDaddy world. It ideas the the the for all nonprofits our Guides. throughout is applications every moniker. have and services, thread made, of the our of organization progress of runs X,XXX around

compelling GoDaddy Leading honor has go-to-market a GoDaddy care It's is an a the a opportunity. a really our between and business privilege. ton with combination into customers. deep and future product, of great a for

GoDaddy for our the customers, their So world, team, to around thank and helm. say GoDaddy take our of as I I'd like shareholders trust the X,XXX-plus the the leadership Scott to the you and Board employees Directors

quarter. hand it to Scott Ray and Now back I'll second to review our

Scott Wagner

It's leadership. Ray Thanks, core of call our your rest you to going and excited under quarterly I'm of have to future and update here, our GoDaddy for Aman. X the the topics. great are regular use with I about

ecosystem First, product I'll share highlights. our some of

cover partnerships I'll recent finally, will some Second, cover And of Ray our financials. notes.

some with we share are done strength quarter things ongoing as XX% product drive and and gain fantastic to We'll continuing growth with Managed GoCentral the start site spectrum a of unit this seeing where base substantial we've WordPress across above highlights on creators.

on Let of our couple exciting most developments. a me touch

that market's create are world. and any website introduced that building a we even major rerender been website feature content point of positive. for can and this builder template a able after dozens done. response in point is the is breakthrough the the different market The to in has time reason interface around solves that during GoCentral during only site a adjust This the creators GoDaddy capability, simultaneously. extremely they're process delivers the flexibility the with is website process. matters experiment With new at new builders interface, and their visualize this this First, unparalleled layouts creators and

marketing its and publishing a world. a in engine Second, full-fledged and GoCentral evolution helps thrive continues that customers as digital social

My and customers Following so marketing activity in integrations and view Yelp Business, we've GoCentral's with dashboards. Google integrated with can Facebook, engagement Instagram

products featuring inventory and integrations Our with Amazon, and Store and sell Online to presence from unify strategy one enabling of Walmart.com orders, empowering all and our our has eBay, manage online customers location. fulfillment Etsy customers to optimize mirrored

our Looking about products through own both beyond did optionality We integrated the get ecosystems GoCentral, second the bringing both tightly customers partnerships. often third-party in partnerships. best in in quarter. exists GoDaddy we in the the expanding There's asked to that and opportunity

various domain include Prime of members; and of First, and integrated registration. Lightsail vendors. products will which AWS' GoCentral into is AWS; free the this the our we major provider process for for Incidentally, now new in which now platform, into the WordPress all GoDaddy power our cloud being will ProTools, in Amazon solutions, technology public Amazon's deployed make AWS SmartLine, available are domain several domain which which trials are Business using Amazon GoDaddy available as to higher-end developers and

second third, to realtime new provider only funding access a Our our Together, financing. partnership be with processing solutions who for credit working their leading option Kabbage, financing of life cannot to as customers partnership sources such is also get throughout cards. face customers PayPal we'll help PayPal business cash they can Commerce but And needs expanding with our a of online Platform flow PayPal as cycle. use checkout other as back-end we're use the small

what the propositions integrating the our products that the last in breadth broader suite value and we haven't out poked development our showing even the months, but the into weeks, our depth, big great that other X our websites you're missing customers. all at you in and growing both product and on do marketing for and in lineup around or X last is can individually are if is packed with the are experience. ecosystem GoDaddy into large accelerating products we're regarded All These they're highly of companies' up,

up we importantly, more of As value. strength, into our better behind double honed both we drive and down do our conversational and our marketing efforts more lifetime on brand, how on we are base, can increasingly them our we experience success how and product with customers scaled becoming invested acquire our to sharp

know GoCentral about We're more particularly customers with the in spend growth WordPress the enthusiastic customers time Managed us, more over stay and engaged for we longer. are XX%-plus and as

As in successful into conversion expanding attachment the our about creation, coming platform evolving and future product experience to brands. technology across to and global content creating excited I work elegant flows strength, a think about I'm contribution and scale his commercially portfolio, and putting his and marketing websites across GoDaddy Aman

to financials. Ray here's cover the that, Ray? With

Raymond Winborne

and the on focus categories and of execution margin delivering XX% growth many closed of good natural on currency revenue with a top fronts Thanks, a the delivers on profitability. Scott. strong We're line a trajectory business continuing our out in number half in accretion. model with We gets to growth and neutral first that expansion sustainable investments balance business running

Like-for-like growing marginal points million, a of by and XX% quarter in dollars. from Reported in reflects basis growth growth. the at strength currency grew constant QX, growth expect came bookings in reported another and points second XXX the versus exchange rising $XXX was on reflecting particular, half about At headwinds on U.S. board and XXXX. million, basis. XX% first Presence accelerated services. of which XX% acceleration revenue basis today's basis, currency rates, we $XXX XXX the Revenue the across over currency headwind nearly applications on to constant in XX% a bookings driven strengthening basis Bookings

our to million $XX key $XXX, ARPU year-over-year, customers Our than rose past X strong X% grew growth. X% and up metrics the remain year. to million ARPU customer new both reflecting in and goodness in base net customer more adding

times, full growth tactics our of not growth. is adds price We on half. up line rates, move a tactics these This core XXX,XXX net to me is range XXXX strategy maximize our be merchandising for customer and QX events customer to performance LTE This the period briefly showing even second for is strong trajectory that Let in At year, metric. to ARPU touch in in revenue the to with for and from the revenue our evident, of our and the and strong XXX,XXX to happening optics as going year-to-year. value. fundamental optimize from in optics even deliberately period matter are such lifetime is our renewal expectations as changed churn and top

up XX-month higher with $XXX expanded year-to-date to versus for XX%, Moving to margin flow. X% a million year ago. unlevered cash trailing free cash and quarter X growth of cash flow free to flow point XX%, Unlevered the our

growth second board. product see year-over-year into behind we'll the investing our across Looking half XXXX, continue and moderate of rates but efforts, the OpEx marketing we'll

balance $X.X QX the billion cash investments. finished we and On sheet, short-term with

line $XXX at XXXX debt. both $XXX increased of portion which revolver in our in were of more expense. similarly notes the term extended a these impact interest issued transactions net profile have to our and maturity We of negligible bring on used senior to prepay the sources And fixed our situated million diversified companies. we quarter, the maturing a loans. funding to X.XX%, Net-net, us During with existing capacity of a of impact rate unsecured we million

turn I'll rest outlook that, With to XXXX. for the the of

implying billion, XX% $X year to billion $X.XX of growth XX%. revenue year of full full expect to continue We to

the XX% the $XXX quarter, million we XXXX. of expect third million, to For third growth quarter $XXX versus revenue XX% representing to of

free to to $XX XXXX. slightly of For X full margin X.X today's flow. representing expect faster we to interest unlevered $XX expansion in million in on based million, cash free cash million $XXX levered generate $XXX points we XXXX, year building expect rates, versus point expense interest of flow, to million cash growth And

all your reflect we reins as family. of journey. drive to to just importantly, are you Scott's our today for past the quick that, how call result you quality of operating On These turn a direct customers. the like Before our we of questions. for We're to success consistency outcomes the over direction, behalf and the positive leg welcome next our it wish With strategic of and and Aman. good execution up the a GoDaddy evolution years you take for GoDaddy, we judgment, excited I'd his operator, incredible X of And and of over both open the for Q&A, including best let's to leadership. to the business and on all thank

Operator

[Operator Instructions].

Your with first the line Helfstein from comes Oppenheimer. of question Jason

Jason Helfstein

company run in a it's a of one and you question Just before company and I Scott, built a been then kind a that, terrific leaving great picture question. just place. bigger great just and do the And then

want I echo So words. to those

efficiency. the net So first comments seeing adds your extent the and of some you're be may comments on can question, happening about give to us in churn what's optics, you and higher gross given some you the asking adds pricing that's to that to metric a on if in something adds? marketing as gross going give be Not helpful we're but would now that for there's increases, maybe trying measure metric positive

the the have second, not-too-distant constant mean allocation. future. the then in in the you're your effectively have no your company way is And for question I leverage on plan to we net capital

assets start right just for either asset to back really, of stock seeing not right not waiting for high? come And sale available so buying are or you the And the and above, to if the valuations why by?

Scott Wagner

Scott. it's Jason,

for Kee thanks acknowledgment. First, COO. Ah by our the Low we're Hey, here, it. appreciate I joined Andrew

And talk about on it to off so on adds, going to the give you hand the first will part and we'll who of Andrew your customer capital question allocation. Andrew? color I'm

Andrew Low Ah Kee

adjust regularly We domain thing. our Sure offers. different

to put towards little a this. Just color

we Sometimes, use X-offer. a

use of Last our deferring adds, the Sometimes, sometimes. net year-over-year year, effect we X-year a up That events churn were for has effect. offer. because of this example, over XX% customer

Our really one QX impact and our of ever, core -- from we best-performing looks price. healthy. haven't be really pacing seen remains Gross adds the to cohort any

are strong. As mentioned, looking retention rates Ray really

Raymond Winborne

about last. M&A and organic, they price. to repurchases allocation, and It's changed set. It's operational not that in has just the us. for cultural around priorities not We're good order right going same, are M&A. then the The Ray. To question disciplined be of the are share comment for got strategy on capital fit. looking be about to It's and a We're your

Operator

next Naved Khan SunTrust. comes the of line Your with question from

Naved Khan

down the the QX sequentially growth international the I just at to for is Is components Is A on And read questions. margin, on couple function been it? I of It Or driving there there maybe little into a you the marketing and have versus orders? to more have anything of if deploy year-on-year that it bit. it gross went is Maybe how your seems growth. other question down? QX. there a look

Raymond Winborne

first within It's the right I'll Ray. and take Gross pass Andrew international. margin our for expectations. then it landed to I'll

calls, While We're deliver variety managing going there a pricing to percentage. the models quarter-to-quarter going mid-XXs you products, growth And is to good accretion product forward. natural from percentage guys strategy off returns, that of you incremental the plugging you're I've our mentioned the from see generally and past to variability mix should of be margin what with dollar decisions of of and is factors. irrespective based as on into

Andrew Low Ah Kee

cited, where international And expense. which you is we're on Naved, we then growth, last about what talked what It's quarter. marketing exactly it's our marginal around

return. and out great which the across seeing primarily built amount tremendous putting U.S., see now. we're but the in of U.S. seeing conversational We we the globally, love a the the our return we're opportunities, still focused As engine opportunity frankly, international, it so manage in to highest right marketing we're against spend continues we returns

Operator

question next the line comes Mark of Your Goldman Grant with from Sachs.

Mark Grant

Just update could impact trials whether hoping a if us new any available SmartLine. any you're you Street give is trial there coming Main the AWS, with churn and what around XX-day on changes little you an the see obviously, and SmartLine bit customers But or to seeing free the have in metric? from new partnership Hub. encouraging, of for -- in is

Scott Wagner

Scott. It's

first SmartLine, So of all.

we in the think really on it's reach nature SmartLine what is So customers way terms out you about talk -- focusing think customers. messaging. of that, second in is to fulsome the you what number and if the we're it really number that's tied of and There's have a of And actually And to voice, in through our the have we're their value working proposition second product actually need and into customers the the huge that broader that on line SmartLine, still top on need need building at funnel. a now, it. right

as messaging spending but voice And thinking extending energy particularly about time platform. service so just it integration our into we're an not and SmartLine a

a shoulder really just spend throwing interact, shape. it's opportunity, nice so is you and our Street this watching On Hub, our it. against big customers been Main we're But time big, when a

kind integrated to So integrated paid website marketing. bring we business seeing, one point, in have base. of and only working not operation one all at through operations GoDaddy media it's team creation, and but assisted, results proposition maintenance as we great we as this particularly frankly, so and And integrate value this social websites we're the services between

line drive It's growth really we've nice scaling. starting is We're a top nicely. now got on punchline growing we're to shape. So and focused

Mark Grant

and the going family best you your all to forward. Scott, certainly

Scott Wagner

appreciate I Thanks. it.

Operator

Your question Jefferies. the Brent line comes of next Thill with from

Brent Thill

Scott, question fans. a strong. a for Stay I lot of you got had Aman.

application quick strong domain You I of just could And have this. a the around migration have us product give and I'm I how your curious vision this see like early, very if side. background for applications questions a lot you know it's just the seems from you it follow-up and the get at there's Ray a And but end. we of

Amanpal Bhutani

look the background. I strategy, to the able to X I then It's What those platform, being GoDaddy on working This really product yet. the the the day me you is funnels, on marketing Aman. technology even we're strong when at tell portfolio brands not getting increasing will well, well is for blinking run conversion multiple and my focusing

So I'll be to a on learn for the about bring match and else everyone seems the in, business. like and more the as excited good expertise to But it share I more going board with get you table. I

Brent Thill

Ray, on more It's your definitely Can getting from three you just cash questions %. quarters. this? through The Street And been number talk a missed It's by investors. of flow XX back-end-loaded. I'm

buyback. the You million got $XXX in

You your both in haven't peer indexes group. share, stocks touched the lag

the question pattern the is for? holding Just what's

Raymond Winborne

unlevered Look free got towards at top cash good our about XX% metrics the We've line. growth in quarter. guide. the flow, solid this On annual way of we're

around timing against flow. concerns quarters of just no It's So cash consensus.

there. So no I concerns get

We allocation organically. can organic earlier, mentioned grow not I continue this changed. the priorities business to As capital have this --

for right got the be share order. in the into come will to it's We but M&A, picture, but fit repurchases are and that looking it's

Operator

of line Auty the from with Your next Sterling comes question JPMorgan.

Sterling Auty

of only prayers to you CEO and advancing really and mean and company. a Congratulations. start, culture Thoughts also progress Scott. family. I job, as me but the not and the new of the hell CFO Let

Moving which If the the nice back slightly at I really additions, level. growth to bookings the in coming the was customer mentioned slower look at business. but before, in

You of mentioned punching getting the a kind you of of your rank you terms you're out extra couple in weight to to above platform? new of elements. where order, I'd think bookings coming the love kind do for per customer class

Scott Wagner

It's Scott.

seeing slightly funnel. the of flow right, initial One better things. think attach, a is and conversion I we're combination during

more scaling a actually advanced make application further up two are And from probably not WordPress, cycle. growth product things. of effort up really "Boy, each front back and of and baseball others base. do what category the some next comments in really in of bit second it's the nicely the I of but are customers script The our a standpoint, And to And presence that at capability. doing, where as we particularly the life We there, Managed big in using those Really, it's showing conversational unit this of on, show kind their one up of GoDaddy's right of it's that the do up in thing the those of XX% we second inning and with marketing have they in shows now products. products, honing in is and hosting little we're and progress the incremental analogy, growth. up But science into think are in time?" more how and shows the put again, ARPU, it obviously, GoCentral areas them in probably you're old only

Sterling Auty

follow-up one question. then And Great.

You mentioned AWS and partnership the integration.

of IPOs, time et I the If had obviously, that said there some that existing a might was integrated. you about X what concern comes cetera, much of partnership had? flow give major first Can us great relationships Domains back way thought the and gives And that you we add from a the clouds Microsoft, in of all you as Google AWS the all with you how this equation? go expect of the it us domain you to sense

Scott Wagner

Scott again.

and a our small, We're going are speed the a of a marketplace vast for So providers mean technology using in strong Domains tiny so offering. right and carried time. the not I GoDaddy our not it's cloud cloud are ecosystem. a relationships to frankly about proper. it's power their honestly, Domains going relative APIs in that naming not or for their of of across all really it This the just and to other names if our broader ecosystem, our just sophistication the all, change to being a off and frankly, our financials of it's those partners, line, majority own But top small of some, contribution. plus are but our domain breadth more it's to obviously show Domains great the to that is the team of part nod up with P&L us important it's long part the with vast,

Operator

next Blair. Pfau Your line comes from Matt of the question with William

Matthew Pfau

Scott. Best family, you wishes to and your

products, So the You both on so some things. it what's a I seems give but there? I offerings. others you been wanted other the driver and a enhancements also the to ask growth made the suspect and so lot could the detail Maybe there's there it, of nice market pricing on on GoCentral of us around WordPress website part in just changes that's functionality more from

biggest growth. what just So the continued are strong bigger factors in the there wondering --

Scott Wagner

again, and first into amplified. business, within thing of is First product I'd how translates terms that quality really, not year, And last that, the that's only to has obviously, really over richness the thing. And more market. GoDaddy is the be attach. really there's, functionality in in effort, feature say, the a going we awareness foremost, is that's And capability awareness but the but have broader of multiyear just something base big better second a the that

of any our uptick. working innings say have attach. Relative in a price all we're the that X early products, those upside. quality and Just isn't it of the flows to lot of It's still I'd driving

Operator

line question Deepak Barclays. Mathivanan the next from with comes of Your

Deepak Mathivanan

sure spend out your seeing different is over this investors, marketing really and incremental We, from marketing What GoDaddy. a of any sort us. marketing expenditures on Scott, -- expect time any to run. Two where And is Bookings strong, do seeing normalizes go I investments. questions Great curious your but at payment if appreciate wanted I'm you're few than this the other the with really comments. period is period we before. next quarters? growth some

then is growth. provide Can on what of on geographies And second question kind color driving are this GoCentral. some you

but give some currently? size could the quantified never on perhaps, you You growth business of color of GoCentral

Scott Wagner

Scott. It's

it. the for appreciate I thanks comment. First,

marketing, return into On our get components the on don't of the specifics marketing we conversational relative individual of channels.

looking I lanes. either we're think they completely you good are economically return. complementary spend to do kinds spending different against we can't about on opportunities but investors ways Investors, We're this. money only going want needless is against return more. honing base, really about against a would and But and for continuing how thresholds business, have as to really it. is incremental And again, we and versus just actually the think keep these areas. of This has everything we and doing spend to scaling not us accretive say, these

from that really revenue obviously, hosting Your growing line. presence And see a is if small reason aggregate, small part a strength meaningful on a can big you, the the and second -- in that of it that's the for component ongoing GoCentral, it XX%, contribution line, GoCentral of question it's and segment. the is is but overall still

and next. there's kind terms looking our And we're about putting lot is the all line, as of That's you're followed GoCentral. in the U.S. that and of developed runway really segment that world. markets a just core then strongest, those the where growth at and coming are geographies. in shoulder, of where, English when So almost think from

I covers think that everything.

Operator

comes of Josey question the JMP from Securities. Your Ron next with line

Andrew Boone

Andrew This is for Boone Ron.

million that back You on about your you you at of get year and partners? that once the secondly, get should net interesting going color guys for the average. adds a in take per but we back forward about we we historically just the look contract kind on have expect I issues, third-party what this? talked X then understood step And is on of partnership, talk that really through Amazon can level

Scott Wagner

Scott. It's

look were number stack. as how describing, a layer million X.X of X going around the one, X-year net of was you normalizes about when at that on talked A on kind year the period adds, this ago, to on X-year million. year first Ray over there that throughout So things time. that Andrew was

at that changed, the small amounts. think underlying better, important but basis, tweaky it's and rate getting only point customer I most cohort the basis not has is renewal it meaning

So importantly, the And honestly really the of haven't shape. cohort are more each increasing. value are cohorts And frankly fundamentals nice retention of in changed.

second around your a that matches and from one, customer needs the question base. customer job our think number I is partnerships, there our product of proposition value the

The can customer experience. integration execute or really fantastic with tight CX we second is that that

with back. Currently, had I If that's really This you think place, [Technical [indiscernible] product Microsoft are a about a telecom what we've of Difficulty] XXX, bit a done gold boy, issue mean, we the through standard Scott. great of little is we central the now and

value tight partnerships. seeing you're what proposition in of talking Microsoft categories gold And CX. XXX's, think about it. other Basically, this big obviously, I execution. And a same are and is we the standard those the were

Operator

Walmsley Bank. with comes Deutsche question Lloyd next Your from

Seth Gilbert

if is contract Is differently. with maybe little them I This may. anything you Seth with the that from any Amazon partnership, prohibits there the me bit on the in touch Two on down partnership Lloyd. One, them ask road your in competing a way? for to

something And about and best maybe just to a curious to you to little compared then family, also marketing. second conversational And what question, I was out if or with apologies wishes wondering I missed and Scott. any quarter advertising expenses marketing if your the onetime and modeling. we're elevated in call just there's bit And it, G&A

Scott Wagner

good we're this. about the not specifics, we partnership going On but to get into details, the feel

These It'll great period proposition. for of long a value time. to a We are good. partnerships going have continue be

on Ray On is the going marketing to marketing. it up spend, pick

Raymond Winborne

it's as settlement, so we're our year. Don't litigation in a point if marketing, I the a For even a [indiscernible] Also for is the forget line think. this G&A lowest confident year,

Operator

comes question Zachary from Next with line Schwartzman RBC of the Capital Markets.

Zachary Schwartzman

what like for recovery. best full Scott, wishes First, others said and the on a healthy call,

Are the a referenced discussed. million going call expand? sort -- up net from margin in but revenue layered XXX,XXX the that addition customer they Ray there's be that to like now lower briefly are that it's half, should guidance to adds accretive XXX,XXX, given ARPU the are some but things it, On of here, of -- that the, more net been net wasn't in bottom like back adds lower will the picked line, there's changes X adds, has

Scott Wagner

purpose the we Yes, a flow year. again, on Zach. like ARPU, it. these on are doesn't you're on And relationship accretion seeing our particularly you that's some -- described way value. of yes, only should XX-month thing, that you work think on higher focus quarter-to-quarter a that margin the the customers' performance. changes, from the And about the That's ARPU forward what managing lifetime customers the if around but But it again, value not quarter-to-quarter And that's between calendar in basis. not is revenue

Operator

further to no are call the turn over this There Wegner. Scott questions at I time.

Scott Wagner

All to say the call Appreciate right. have buy sides. here particular, out And And the Hey, who long everybody. thank us day closing, in you, In listening and investment day sell you all the and of to time. the I to in in, with employees GoDaddy a community you been particularly both want thank it. are to everybody. for thank on for

really companies Our dialogue view both X-plus And it respectful. years appreciate everybody. constant know consistently has transparency Good business well-rounded and past a one be good be Thanks, forward. thoughtful doubt and I it always will success. huge luck evolving no for towards will going as and but the been the over I shareholders everybody. and thanks, a customers, that GoDaddy building are delivers will, employees.

Operator

concludes conference This today's call.

disconnect. You may now

GoDaddy (GDDY) 1 Aug 192019 Q2 Earnings call transcript