GDDY - Earnings call transcript Q2 2022

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Christie Masoner

Good afternoon, and thank you for joining us for GoDaddy's Second Quarter 2022 Earnings Call. I'm Christie Masoner, Senior Director 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 webinar we'll be referencing both GAAP and non-GAAP financial results and operating metrics such as total bookings, unlevered free cash flow, normalized EBITDA, annualized recurring revenue or ARR, gross merchandise volume or GMV and net debt. year-over-year otherwise represent presented rates comparisons noted. unless Growth presentation use measures measures today's site and discussion in their of on of at with financial Form we why the found today's be financial A investors.godaddy.net reconciliations or Investor earnings SEC non-GAAP our X-K equivalents furnished may earnings to the in release. posted our GAAP release Relations to our non-GAAP at financial capital related results discussing be include statements, to today integrate with our synergies. achieve those to innovations our future product acquisitions strategies The operations, matters we'll desired to and respect our which forward-looking our objectives allocation, or including include ability introductions and and future approach new to in our SEC. detail with the These filed in and statements forward-looking subject discussed to documents are risks are uncertainties that materially Actual those results forward-looking contained statements. differ from may in Any based are of update XXXX required or this events. obligation undertake forward-looking on August new future make except no assumptions by to that statements X, on a result today extent statements as the we and of call information we law these as to Aman. that here's With

Aman Bhutani

and week Christie, engaging GoDaddy At for resilience. to their by customers. and by The joining am determination inclusive amazed us of opportunity you our I'm their mission Thank you is all GoDaddy, make moments best inspired constantly all. are more thank when my for today. I with grit and

I've met the become GoDaddy couple ago, hopefully future. a many Just business I so weeks of summit. there at a in who and spoke customers customers GoDaddy will some small

my is all day. for do customer and every passionate inspired am about upbeat I on about businesses. better to While GoDaddy. walked our found more One life the with I they're be them and environment, me and economic to started up her customers ambitious, worried their current to driven,

on grow helping focus achieve complemented innovation, human businesses intuitive technology their and dreams. deliver customers by relentless seamless and Our care their

X% rates, retention best our show attract results customer by than FX XX%. we the The XX% growth to greater challenging revenue customers QX illustrated continue growth patterns and our which and concerns despite solid to high-value operating have and to navigate in strategy demonstrate discipline, control. success a remained Our steady action committed position demand what attention and from to EBITDA we and diverse normalized enables are GoDaddy's inflation environment. fluid us on business global strong in

We aligned in and development our other marketing where marketing and success-based, with components the and spend deploy investment Through growth. growth. to on investments business plan long-term find concentrating balance we we sacrificing spending. we past, our across create demand in deliver actively spend As disciplined future this and our all technology signals, identify efficient opportunities without for of

past Our the strategic have quarters. priorities over six been consistent

Commerce, that products. driving our Domains. offering GoDaddy innovating with rates attach share delivering Pros; continue other specifically First, for third, Beginning the and are presence; to to Payments in and positive to achieve we pleased Commerce GoDaddy through our second, we trajectory with more

payment choose at with solution. Websites also XX% for growing to Commerce and For our customers Marketing, XX% XX% our $XX Managed of customers payment Commerce Annualized our rise more + of than WordPress, billion, year-over-year. QX choose our solution GMV continues

continue enabling for steadily We devices capabilities customers, strong hardware sales while payment in-store payment drive robust approving to also applications. in

are relatively our empowers of the still differentiated is customers is person, preferences solutions locations. in online Regardless offering well-positioned consumers' solution our from transaction payments rates our shopping in space. in to While our benefit they this new, GoDaddy's all or industry-low OmniCommerce whether

improving experience Pay GoDaddy on partner. Apple and GoDaddy also Pay Apple Payments rolled out the Tap a selected as We buying to

within business more as this partnership meaningful. about grow. their iPhone Marketing to it more it capabilities Tap we as online, bring plans products, information to Websites entrepreneurs their GoDaddy customers work this are manage sell year. market And to excited more share to easier to and We plus with always becomes on later to will We Apple for make embedded Pay

New add appointment enhancement, our and making more GoDaddy. capabilities quick cart, include product shipping helps while image single-click value to their lifetime building products capabilities including appointments online features customers labels, discounting calendaring integrated and buy background greater intuitive. business grow view removal, and Enhancing creating our retention enabling for

highly We Websites also Marketing price for competitive product. test increases to continue feature-rich plus our and

also approach closely into behavior to of consideration in the balance customer share market pricing and nuanced right is price due macro monitoring Our taking factors. to increased shifts while

limited our discounting of that position that heavy have by value. maintaining while use competitive offering the We customers space products our programs frequent this

remain macro backbone than something extremely communities. of above an deliver local to for higher retention This stayed that their XX% retention, Our observe the we that we XX-month due strong to rates factors. behind of customer a for as consistent proud cohort it prior And the year our cohorts. customer is metric are has pressure even businesses trending micro with is continue we retention customer some which customers are is because sign left often overall

that We for delivers Marketing are are customers that Websites performant. proud highly websites plus

improved pushed scores. Core Vitals result significant speed improvements in that insights GoDaddy changes These performance website bar the paid Web behind-the-scenes on have improved that enable for sites. millions powerful further We and and implemented customers to of have achieve

These for rank rate us for this And leader For important. increased XX% by extremely our results. GoDaddy's the in ensure customers' small higher making Core businesses this Web pass our search is customers' example, improvements category. in Vitals sites websites

on GoDaddy Pros. Moving to

team benefit customers These few intuitive focus and be merchants and in running on software place. extensions store such comprehensive functionality payment premium able one a level and experience. together and stack from offering to this launched brought and which to reach managed omnichannel We million to anywhere managed $X This all online business. provides an in we us dollars. quarter including seamless their a their allow social with team. technology highly processing sell capabilities online those new combined The store expert on multiple WooCommerce will a to WooSaaS solution virtually customers customers a allows platforms of marketplaces secure online million domains larger with flexibility in hosting and plus in-person of This infinite larger free beta and a sales offering cloud fully includes create dedicated with WordPress exclusive premium to performing scalable experts user of new to support exclusive our technology technology as growing

GoDaddy's unification integration from multiple of program of up partners and invite-only a WooSaaS WooCommerce a customers to The WooCommerce offer move shop latest started group offering is with experience solution slightly and technologies Our want managed of market all-in-one to an point over proof merchants acquired beta one-stop time. QX the in ability seamlessly stores. and testing for the us

On demonstrated about We upcoming limited pilot program value learnings offering. in our to priority, the on excited looking about full the the marketing third a forward are launch focused excited launch. we QX full QX of Payable that are possibilities Domains a and in customers

delivering focus We professional subscription. with green the by closing, this priorities, our all pilot businesses. are domain by for them the that executing for shoots branded meaningful relentless acknowledge In I launch, new out-of-the-box a experience while in want customers the freedom results. intuitive checkout offerings we our by payments simplify GoDaddy's online experience to being our backed financial default a Payable times care, to to for frictionless drives against also consistent customers by and for accept vast a customers and seamless purchase process will any of needing customers, saw building our some GoDaddy's our In and steadily We for succeed Domains giving technology scale in believe our online human portfolio website. uncertain every creating QX other on GPV will driven terms without free and of payments included without strategic in be

customers continue for to even do Our us inspire to incredible and innovate them. more

value and We will behind to be With to employees to long-term committed shareholders. Mark. drivers and growth capital that of our here's prudent customers, investing staying continue delivering stewards

Mark McCaffrey

to XX% in on a currency and excess thank value evident basis. returning robust Revenue GoDaddy the top long-term growing cash and of at are and everyone Aman while joining GoDaddy's billion, growth, to profitability reported $X QX financial was on form scale invest X% continue line to and flow constant our QX Thanks, enable buybacks. for in and to share resiliency capital durable us today. deliver a you, results basis in investors

impact, currency $XXX total target Within than revenue by guidance. reported that would attach. our international on grew QX ARR a The XX% Applications revenue XX% Applications million. grew continued to range in our the and Grow products and within of the end have grew XX% the Create And XX%, from Create Email on $X.X our driven XX% and Excluding to high a come strength basis. products grew constant Grow X% and at to billion. and and our revenue revenue X% the Commerce Commerce currency basis of for within ARR more in reported

the for XX% approximately basis billion, slight $XXX hosting X% grew X% X% security, was EBITDA in a registration, GoDaddy $XX grew on of growing Additionally Core growing by grew to XX% aftermarket the Commerce totaled Applications annualized QX basis. ecosystem noted bookings our bookings on reported a platform GMV to and billion, billion. factors delivering revenue decrease on primarily X% in X% similar and domain core and and currency core QX X% end constant our Normalized guidance, grew platform to platform business. $X.XX grew to $X.X bookings high at strength due offset across a XX%. ARR our million. for X% growth revenue.

mix represented marketing spending disciplined success-based over zero of capture decreased expanded our product investment on we on margin spend. as of margin in and XX% returns. and is gross the our attractive because primarily margins flex marketing reduced marketing result of Our of The to expansion moderation spend four points

a and innovation technology this we our as Our and strategies. increased expenses development of quarter commerce as advanced revenue percent

for facilities driven quarter recognized million free to Unlevered our to a continue as we infrastructure. related charge $XXX licenses million. cash by XX% we strong growing flow and Lastly, $XX totaled the IT simplify profitability. impairment

Additionally, cash basis billion per since reducing $X.XX repurchases. million versus strong on year-to-date, share cash $X to share by flow of we flow and the cash fully prior year flow a share Free per X% and increase share XX.X trailing count approximately repurchasing buybacks, share on rose diluted of our XX% XX-month a shares completed $X.XX, year-end.

at of liquidity Net to two balance four $X.X stands $XXX QX On million $X.X in targeted of billion, total the the billion. debt of at our range we cash times. midpoint finished sheet, and with

on our outlook. to Moving

to ability per it that of impact of confident around year XXXX, has target environment and on unlevered We half to free immune continue targets the goals, execute cash and to performance. share. flow, we our said, and the on cash With are line the dollar that macro the flow not full strengthening top and our EBITDA, our normalized are strategic to meet in including second be in our operational

the issued the Assuming over continuation year, year adverse we X%, impact for compared approximately be FX million approximately of our the a in expect full today's revenue to rates, guidance that of rest to or $XX year February. the full

As to out and earlier are flow a billion $X.X remain revised year. this XXXX result, and year financial focused cash we free cash strong on results, in $X.X full revenue $X.XX flow driving unlevered We plus billion. outlook per free our share, to to laid committed billion, $X delivering as

increasing are on margin our strong the XX% for EBITDA execution also expectations, to disciplined full and for based to normalized We investments. year, XX%

X% XX% of $X.XXX total or adverse and rates, grow in and core we continuation through million would grow at revenue revenue $X.XX be platform Applications QX, of approximately FX X% expect representing the billion impact to growth are The and X%. range revenue this X% $XX XX%, between to to of Commerce flowing and targeting today's For between impact, to midpoint. range assuming the the we billion,

year we FX growth primarily below and For two by pressure. full QX, approximately bookings, be driven points to expect revenue

represent our continue million, expansion We to is margin robust $XXX technology product efficiencies care and customer $XXX expected through which to in the to balancing momentum, goal while marketing. of Normalized growth in at would XX% midpoint. EBITDA drive development, will be and in our of QX, million launch for for the investing range

our fulfilled options cash XXXX, $X for line continue allocation use capital of buyback with disciplined and our the year, target in strategy for framework. remainder to evaluate remains of billion the We Our the capital same. we'll allocation

quarter, intention to maintaining two with and last impact the said of interest rising ratio and the loan leverage we evaluate explore refinancing times. term as of will rates our of four revolver Lastly, our we

delivering strong business on our share Before cash want our the that through market-leading also I and while close, to balance now, enable flow economic of folks market strength remind growing us improve cash long term during I to execution, like upon flow goals. consistent sheet our profit gains prudent times and investments position, and

enjoy to for customers journey. We deeper retention, million on build XX foundation we and entrepreneurs relationships strategic Our create alongside and priorities, on resiliency. partner their our execute continue exceptional the our

and delivering better year, the XXXX. of of We through and cash CAGR EBITDA committed dedicated through under that, XXXX. we focused the line are halfway Masoner, the Investor With Christie And through to normalized share shares, laser plus we top call remain against we to authorization billion remaining operational are questions. XX% execution for free on current billion XX% $X XX% open will CAGR, flow Relations CAGR plus team or with complete, buybacks $X per to executing up our from our have

Christie Masoner

from Our Trevor, Thanks, from please first Barclays. go Mark. Instructions] [Operator comes Trevor of line Young ahead. question the

Trevor Young

Thanks. Two I may. Great. if

given incurred $X of impact versus just to expect plan maybe new margin? versus and percentage there, as saw from just it clarify be increases such And How gross healthy GM worldwide? First, was existing think then alluded which rolled ranging to bit like Is domestic average customers COGS some I translates a a premium what dollars It on pass-through Commerce revenue the month, of out? are more fully we this what is basic end $X price drove pretty infrastructure mid-July costs a these mix? on you for in do you what increases the to the both the once like in subs? on testing, that versus sequential and much weighted FX uptick our increase increases in Could an to are domain looks it. Aman, you basis. second, And saw like

Aman Bhutani

want take you do margin? to Mark, the gross

Mark McCaffrey

you So the are Yes, say, pretty no impact or margin based product on was that was nominal. most was FX mix how would of to The problem. Trevor, mix. doing? change I Hey, -- gross

Aman Bhutani

some saw what us + yes, Trevor for And pricing, then was test and Websites on were Marketing. you price those testing changes the

of as international, before, the that testing on price sort base taking of expectations, on We for changing customer quite it terms In is us I've share. on shared nuanced. market geography,

see in certain So geographies, you'll others. appear not in but it

Trevor Young

where expect just, That's the stay on on If FX really gross rates helpful. just they're clarify margin. in we balance today, impact of year the Mark, gross And some at currency? the to margin should from

Mark McCaffrey

Yes.

costs much in are the on the fixed affects our of US most with So FX bookings, impact the our and pretty line dollar.

to look of say, lead FX our So to and to I the on bookings minimal would through then revenue structure ultimately impact today. for in flow impact most with the cost

Trevor Young

Great. Thank you.

Christie Masoner

of please comes Our next Pfau from the Blair. line and William question ahead from go Matt Matt, talk.

Matt Pfau

Great. retention continue strong. to Aman, you called remain Thanks, rates guts. out

side seeing macro see than more where there on as some the did You macro both geography? from factors. areas business on Are your certain you're maybe product well others, pressure the as impact

Aman Bhutani

Perhaps Yes. European is pressure see Matt. call or to other geographically for Thanks, macro one greater some out customers thing now, that, inflation given right factors. we

But, high on. sort have focus us. to bring of to LTV, we in have our build efforts intent an customers we're have keeping businesses something with to stay eye that that's overall, to great So continued

the plus. So the stay to that's allowing high us rates with XX% retention

with So we're pretty that overall. happy

Matt Pfau

Got question it. then, spend. marketing And the on just a

think adjusted about should up then we that if how that a go revenue, forward? as could or You improves percentage ramps do dial demand, debt macro and up for see going back expect you we of back that demand adjusting that

Aman Bhutani

of data return marketing data, see in spend universe and and investment. that, the also on our the in we is demand such, signals both marketing terms at trail giving Yes. and of My seeing us external broad look but customers' we're view of on what sort Google it signals let and we the we terms

So our the follow, but our expect spikes if we're is, marketing. also for will spend metric demand what can you improving marketing success-based again, constantly the

rather come. So on all an And you'll demand. than in improvement some see Investor example, we -- which potentially some based optimizations SEM to shared Day just was that continue as improvements our we in spend

a see mix you'll both. So of

Mark McCaffrey

I'll as and commerce into broader, more to especially, And are we get our as expect get as marketing into we our business of leverage aftermarket. we line, to more continue solutions get out our add,

As efficiency once entrepreneur marketing better. our gets wheel, into customers and are

to leverage margins on So line expand that. get expect EBITDA and time normalized we to out based continue over to be marketing that our able of

Matt Pfau

Okay. Great. Thanks, guys.

Christie Masoner

please from the comes Our line ahead. Brent, of next question from Brent go Jefferies. Thill

Brent Thill

Many of product a new this ultimately and Thanks. drill in of of then a out And what's the sense immune peer follow-up. around companies group been kind higher us I just resonating give the from you can SMB churn had calling you some impact have if of more I'm to the quick set? what and curious is leaving in macro.

Aman Bhutani

Brian. Sure Yeah.

plenty with the the So right? are customer, our right? micro business. that environment customers the start charge to customers leaves to for the We away typically is be sell sell our we that the to economic them the price value micro we changing last So fact they tend if the walk customer our products to create consumer GoDaddy's have we adapt add of products even tremendous of they customers business surplus let's average from. solopreneurs. A-third products for and to

more retention also of customer, why continued that rates. to use discounting to our that some customers of might attract have not have techniques is of obviously, should customers sort lot to sort for higher terms that focused say, retention high customers. a and the strategy I may have LTV sort So the we retention in of rates. and of But But attract other keep the limits – that companies good whom good that's the in more of we and attracting high reach see have we the mind, more LTV can rates products attach

Mark McCaffrey

that in the The be to person extremely fix solutions formula winning relationship important to to, becomes care in these and seems important help come to that relationship more to be up having and to times. times economic provide And I'll and And go more with there. these throw customer to value base. just in a continue even

Brent Thill

Okay. cash Street is flow I And bit. free quick, unlevered think number the little a real

anything bit a term you're below I into little the there quarter? there relative was Street? read what this number Your the comment wanted. Street the know, but the reiterating long number Was anything to to to

Mark McCaffrey

with Nothing. towards our to and happy annual our We're we goal. work really continue progress

Brent Thill

Excellent. Thanks,.

Aman Bhutani

you. Thank

Christie Masoner

Elizabeth, Stanley. from Our of comes go line Elizabeth next question the from ahead, Morgan Porter please

Elizabeth Porter

so you much. Thank Great.

Just as a willingness any guys inflation behavior more bit pay functionality interest stretched and you the rates seeing higher entrepreneurs in across with while are let's portfolio? tiers the get change for little or up to or expensive

Aman Bhutani

Elizabeth. Thanks,

So, of with know, We the is just Marketing premium to very the as base be offering. we're relatively you are new WooSaaS offering of launch also and offerings the premium super in the businesses solution, right? announcing have for are Plus our case us higher which of tier new all right? Commerce excited + XX Website customers. And especially million is of new going us a these a But for

in relationships Care. great have We

the say their businesses we these deliver don't amounts of sort we're economic not the an up sometimes small tremendous are one that the inflation of but of and here process course in is things pinch of because early people we feel in realize give products dream customers our And downturn. core So just of of value. for they us

up they're domain to name. So not the going give

Elizabeth Porter

on pretty more holding could sounds I some know on follow-up color then And provide Verisign a raised it those macro you is And churn what terms outlook demand. well. you're which hoping a in was in if questions. it. like domains, I reported impacts as weaker of seeing on Got

the kind helpful. just So customer really be particularly could demand you provide on would incremental any of new

Aman Bhutani

earlier being XXX a different Yeah. or very by definitely the it's take a make fluid small the business I But look overall back if in GoDaddy's geography. at Obviously, environment TLDs. broad. European comment about and demand demand step the weaker. to a we domains business look sell at didn't we it's just We're customer and

We primary have market. a

business. invested We've those market aftermarket secondary domains businesses. both leaders a the are business. In a corporate cases, have We in we in

years of us well saw You the that's registry couple us too. business over grown a last and very take on for

one look at to levers we may continue a to obviously out business compared we TLDs. feel there registry one it's much a Domains many that when our it business with any So we use that few to or broader have grow

our business different. So that is think we quite

Elizabeth Porter

Great. Thank you so much.

Aman Bhutani

you. Thank

Christie Masoner

James. comes of the Our ahead. next from Kessler please Aaron, question our line Raymond Aaron from

Aaron Kessler

kind All bit down. about a right. talk and of Maybe just coming attractive valuations competition whether pricing a M&A other environment environment more kind how then seeing little the coming kind you. getting if maybe efficiencies hearing bit just equities it's just can with less get of pricing you areas? a Search of or seeing as coming from just with And ad Google some terms little ad well? Are public talk about of maybe obviously more the down, you you're in Thank down

Aman Bhutani

Yes.

with ever the of with of better sort environment, sort get bidding competitive easy. we and I would marketplace. our ad with shared machine Day a But quite On continued call to to that efficiencies. push always you more it's abilities improve Investor better learning at success-based never as we

do others, see dynamics you on easier say our still overall, in leverage huge than a Mark I But the it's the of some Obviously, it are wouldn't competitive competitive shift but M&A. I certain bit that improvements. would quarters, some in dynamics. And So, there's overall yet. marketing say just in

Mark McCaffrey

approach On changed. hasn't M&A our

that capital about. we've our talked We have allocation strategy

our objectives our on objectives about form. strong or a integrated. today laser-focused We have and to evaluate solid feel decisions on those be to in we any M&A now talk to balance about try has shape Obviously, don't active talked right able and has year. keeping having along for anything fit to we anything our that we've We'll our be that based on we has to and an strategically comes strategy we good about financially way eye remain and executing long-term But lines. work

Aaron Kessler

Great. you. Thank

Christie Masoner

go ahead. comes Mark, from question next Our Benchmark. line of please the from Mark Zgutowicz

Mark Zgutowicz

Christie. Thanks

next of And how being the XX% years? comes I'm Apple macro. a a that. in sort your or decision, trajectory sort seeing macro, And on to the couple flip coin. customers simply the Pay are terms budget Just success Anything but Thanks. of and subscriber over that that up sides the of using well. is of there -- products, it you're of characteristic around of new your was duration some just regional new mentioned two questions that aligned that how that would the subscriber? of absolute of subscribers a are of buying upselling of couple demand? characteristics? on you see is you reduction potential as stat that and curious Is just of maybe a One lower the is with added number what of of be you Payments cart centered those sort coin that there Payments. is then Payments as what ones move on that WordPress conversion Is On the marketing marketing, there that much potentially then And pull then side in of of on interesting the terms simply side tier then in on quick product?

Aman Bhutani

Thanks Mark. Sure.

maybe me Let Pay the and team and the I items. on Apple tag Payments other two take can piece and

GoDaddy move XX%. to that Managed number we're on Payments to excited So, for WordPress, XX% super for Payments

that they it's in what choice WordPress. do. are options that actually of things choose XXX of Customers I types asked -- from think have You can the we a

So, experience customers. for the we're continually improving

simplification be those to that with between choices And in the in able XX%. improvements, improvement choice. -- to it's them see this and differentiate for to and So, and make those them easier easier best to choice pick that we for

on very, very the on simplifying or at one-stop on In media the they're customer delivering without of focused whether terms would their to store experience. of shop customers in is say selling sort or the specific of on on numbers we're very, social that a major years, marketplaces. be We're we'd commenting our very what focused couple online I in-store

giving them objective. everything that want to one and clearly is place do one they our So, customers to from do subscription letting our

Pay the there. are partnership. Apple couple things Apple Pay of is In terms Tap there so of support a Pay, the and There to

sort got early. I think the it's more you're to as This we'll super Pay announced partnership. Apple, that referencing Tap just And you share happily develops. partnership by with just of

Mark McCaffrey

and marketing on accordingly. the fluid ROI been We optimization. attach. our been is we at the it's we has the do on macro look where as overall on only Aman entrepreneurs but solid. offerings, more optimize XXXX, like it ability budget. and I'll at are But continue And expanded to down in in We mentioned marketing look look start and the just we to demand doubt at pretty not but product Europe No things efficiency and based wheel and successful how demand our

few then, So, it's the and to I And optimized makes like make is there's that questions and think I definitely -- capturing said, demand there. efficient is marketing there sense. a was being in demand fluid, we're but sure the a -- I apologize

had... we think I

Mark Zgutowicz

Yeah.

the side other terms the Sorry up-selling of the was coin of you're the up-sell in having success that question products. other

that Is going with guess duration Just you the absorbing the longer characteristics subscriber Is buy? they're I it products? they're it just regional? are the likely curious, those more to

Aman Bhutani

Sure. Yeah.

you the a emails focused example them we're and us example core into with Email, attaching attaching Commerce in intention, attaching those turning to where our folks to to attach buy for base. don't Investor to domain. the Day, funnel We're our is market. best conversion that's focused us be for marketing and optimizing and funnels. Websites a of has penetration data if Websites, good course creating We're right? at attaching domains also The XX Domains, for very, intent very of laser customer allows good, funnel that products. also that So shared of through focused conversion that and attach And the to the Payable So lot terms is customer in what coming on continues we bringing million payments on to tracking is of have more-and-more new products

You buy checkout enabled you get automatically. a that page that's domain, you can customize your domain for

is product literally and purchase the a transacting, put have and right Business start we wherever that's is payments, there literally taking movement, every in and bundling you're you in -- we're right? like Commerce more, is Commerce sense first the in surface surface it different enabled right, putting a bit on then your selling we're you And OmniCommerce a with ethos in the So the that that the whatever domain idea there. and because Micro creating buy of your can or you're not attaching

Mark Zgutowicz

helpful. Super Thank you.

Aman Bhutani

you. Thank

Christie Masoner

Our next Evercore line please Mark, question comes ahead. from from of Mark Mahaney ISI. go the

Mark Mahaney

your to Christie. Okay. bit or consistently think little you you do there on repurchases one, that of pretty repurchased then were and you said, questions, share growth is you've solve revenue on need Two And to out for global that? faster. trail international what to change on Thanks, trailed growth. a or going Mark I there even track anything secondly, Is

So up you're just lot you flow. you it forward would that to would it's I asking the cash been? generating back about can even I to guess have a but free don't would What see cause Like, that a thinking attractive even am than do -- for stock I already to you bit. not more what of going make buying little want that asking more I'm us, range? what

obviously a of stock. purchased You back lot

cause would What faster? up more. purchase to ability you to Thanks. the had that amp You

Mark McCaffrey

first the take take you don't second. the that? I'll And part why Aman, of

Aman Bhutani

so, million of opportunity Mark. base happy more nine to with the super products as bullish we're Over with the bring tremendous business. more U.S. and customer international super XX million Yes, outside U.S. we customers happy outside represent Thanks that the very it. and are our

continue years concern that challenges there, we FX say the happy you've demand where some but is to very there impact three and overall. like we And dollars And see return. those too. course see and marketing international best you. But two, seen of the with macro continue no to be no for it us business, structurally, allocate dollars will back it, the forth with with Some has over happy bit. a super some last I -- move Mark And headwinds

Mark McCaffrey

out objectives a capital especially flow. our able today answer balance decisions are been a that's long-term that age. execute and question pointing of to for way driving strategy. good thanks thing and we continuing a based Mark disciplined We're are have what to say the free we on And is, we've have value. And happy the in. really this our in $X I'd we very, to allocation billion Obviously cash on in lot best six the day months

It's billion. and at cash. active now Board. us okay we're We discussion the between to right authorized at look $X of will continue And use an

Mark Mahaney

Okay.

Okay, thank you, Mark. Thanks Aman.

Aman Bhutani

Thank you.

Christie Masoner

[Operator comes next question of go Our from Instructions] please the ahead. Truist. from Naved Naved, Khan line

Naved Khan

you're color Thank on you. don't look but then would less. like? little your it? How of to that talk about about I You talk the you know see testing? Are also of and Hi. And you the we does touched increases Any way thinking in price if from increase the you're Is How be kind just maybe sort about quarter? Yeah. can late in? looking that demand -- the did outside existing explicit said you trends through price this changes I helpful. of should this discounting July -- terms a joined just the I already, any just to doing monthly you course just month-on-month, of understand you're Maybe customers? of wanted base

Aman Bhutani

Yeah.

so customer pricing back, but macro I with me talk earlier pricing, little not also let + our just pull think shifts remember question. about and by bit the a is was or Naved, the there a it pricing populations. Marketing customer geographies -- for But Websites On nuanced example specific in

that So talked populations, I a pricing have let's the will and be example, I the customer. from the think have we certain investor say main past in about how are business you for will for customer, micro different

at look a the into depending and share depending versus those on I comment population on customer us think out. forecast best Then into when it that that of basically. find right? take that. our can And roll balance happens, our you we get the see all geography, testing plan we those built of That's but on So Mark

it's -- single a So we're type event thing. not

large a have of products. We broad portfolio

price continues have constantly pay customer stay after then push doing We bit willingness Europe on seeing price demand think then the to we for overall continue a depending question right? value bit us. but up super we part trends. was added not change more And in the to we're and the are to month-to-month taking should so businesses, we're about the some small you there and surplus But had did shifts to around weaker. want the a And -- seeing maintained being comment about consumer happy we're with take I the overall So be second wave I a tidal little way. different evaluating take a and for tests where customer, that the typically and price. any

Mark McCaffrey

we're sure I'll Yeah. comes at mind million about with forecast. customers. has always of revenue pricing in keep see we do very than we is and the it that on at our XX% up our XX%. And And our the higher retention right? making in in on value plan a matched pricing doing Anything providing on pricing XX of included been staying we very, them existing Naved, particular And the part that rates stronger we it, add we're from our

Naved Khan

Thank both. you it. Got

Christie Masoner

That over for Aman concludes the closing to our Q&A for this session. remarks. call turn going I'm to

Aman Bhutani

I'll Christie. employees thank for to solid just quarter. you world all GoDaddy big you joining you say Thank the a for all around and another thank

GoDaddy (GDDY) 4 Aug 222022 Q2 Earnings call transcript