Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
GoDaddy Inc. reported fourth quarter and full year ended December 31, 2022 results: revenue $1,039.9, net income $93.8.
- Period
- fourth quarter and full year ended December 31, 2022
- Revenue
- $1,039.9
- Net income
- $93.8
- Result
- reported results
Exact text from the filing
December 31, 2022 2021 Change Constant Currency 2022 2021 Change Constant Currency (in millions, except customers in thousands and ARPU in dollars) GAAP Results Total revenue $ 1,039.9 $ 1,019.3 2.0 % 3.6 % $ 4,091.3 $ 3,815.7 7.2 % 8.4 % Applications & commerce revenue $ 333.4 $ 300.5 10.9 % $ 1,279.7 $ 1,128.3 13.4 % Core platform revenue $ 706.5 $ 718.8 (1.7)
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
GoDaddy Inc. announced a restructuring with charges of approximately $55 to $65 million (approximately 550 employees).
- Type
- restructuring
- Charge
- approximately $55 to $65 million
- Headcount
- approximately 550 employees
Exact text from the filing
On February 8, 2023, the Audit and Finance Committee of the Board of Directors of the Company authorized a restructuring plan (the “Plan”) to reduce future operating expenses and improve cash flows of the Company through a combination of a reduction in force and a rationalization of its portfolio. As part of the Plan, the Company announced a reduction in its current workforce of approximately 550 employees, representing roughly 8% of the Company’s employees. The Company estimates it will incur approximately $55 to $65 million of pre-tax restructuring and exit related charges, of which $30 to $40 million represents future cash expenditures for the payment of severance and related benefit costs and approximately $25 million represents non-cash pre-tax charges in connection with the disposition of certain assets.
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