# EDGAR Filing Document

**Accession Number:** 0001609711
**File Stem:** 0001609711-25-000154
**Filing Date:** 2025-8
**Character Count:** 326838
**Document Hash:** d34bbc54efad82684f96b172ba443468
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001609711-25-000154.hdr.sgml**: 20250808

**ACCESSION NUMBER**: 0001609711-25-000154

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 96

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250808

**DATE AS OF CHANGE**: 20250807

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GoDaddy Inc.
- **CENTRAL INDEX KEY:** 0001609711
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 465769934
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36904
- **FILM NUMBER:** 251195794

**BUSINESS ADDRESS:**
- **STREET 1:** 100 S. MILL AVE
- **STREET 2:** SUITE 1600
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85281
- **BUSINESS PHONE:** (480) 505-8800

**MAIL ADDRESS:**
- **STREET 1:** 100 S. MILL AVE
- **STREET 2:** SUITE 1600
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85281

?xml version='1.0' encoding='ASCII'? gddy-20250630

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

 

(Mark One)

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the quarterly period ended June 30, 2025

or

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the transition period from __________ to __________

Commission File Number: 001-36904

 

**GoDaddy Inc.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **46-5769934** |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) |

---

**100 S. Mill Ave, Suite 1600**

**Tempe, Arizona 85281**

(Address of principal executive offices) (zip code)

**(480) 505-8800**

(Registrant's telephone number, including area code)

**Not Applicable**

(Former name, former address and former fiscal year, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class A Common Stock, $0.001 par value per share | GDDY | New York Stock Exchange |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&nbsp;&nbsp;☒&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&nbsp;&nbsp;☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&nbsp;&nbsp;☒&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&nbsp;&nbsp;☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| | | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&nbsp;&nbsp;☒

As of August 1, 2025, there were 138,449,017 shares outstanding of GoDaddy Inc.'s Class A common stock, $0.001 par value per share.

------

**GoDaddy Inc.**

**Quarterly Report on Form 10-Q**

**For the Quarterly Period Ended June 30, 2025**

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| <u>[Note About Forward-Looking Statements](#i18413d5774924ebe91d7c266682402d4_10)</u> | <u>[Note About Forward-Looking Statements](#i18413d5774924ebe91d7c266682402d4_10)</u> | <u>[ii](#i18413d5774924ebe91d7c266682402d4_10)</u> |
| **<u>[PART I. FINANCIAL INFORMATION](#i18413d5774924ebe91d7c266682402d4_13)</u>** | **<u>[PART I. FINANCIAL INFORMATION](#i18413d5774924ebe91d7c266682402d4_13)</u>** | **<u>[PART I. FINANCIAL INFORMATION](#i18413d5774924ebe91d7c266682402d4_13)</u>** |
| <u>[Item 1](#i18413d5774924ebe91d7c266682402d4_16)</u> | <u>[Financial Statements (unaudited)](#i18413d5774924ebe91d7c266682402d4_16)</u> | <u>[1](#i18413d5774924ebe91d7c266682402d4_16)</u> |
|  | <u>[Consolidated Balance Sheets](#i18413d5774924ebe91d7c266682402d4_22)</u> | <u>[1](#i18413d5774924ebe91d7c266682402d4_22)</u> |
|  | <u>[Consolidated Statements of Operations](#i18413d5774924ebe91d7c266682402d4_28)</u> | <u>[2](#i18413d5774924ebe91d7c266682402d4_28)</u> |
|  | <u>[Consolidated Statements of Comprehensive Income](#i18413d5774924ebe91d7c266682402d4_34)</u> | <u>[3](#i18413d5774924ebe91d7c266682402d4_34)</u> |
|  | <u>[Consolidated Statements of Stockholders' Equity (Deficit)](#i18413d5774924ebe91d7c266682402d4_40)</u> | <u>[4](#i18413d5774924ebe91d7c266682402d4_40)</u> |
|  | <u>[Consolidated Statements of Cash Flows](#i18413d5774924ebe91d7c266682402d4_43)</u> | <u>[6](#i18413d5774924ebe91d7c266682402d4_43)</u> |
|  | <u>[Notes to Consolidated Financial Statements](#i18413d5774924ebe91d7c266682402d4_46)</u> | <u>[7](#i18413d5774924ebe91d7c266682402d4_46)</u> |
| <u>[Item 2](#i18413d5774924ebe91d7c266682402d4_115)</u> | <u>[Management's Discussion and Analysis of Financial Condition and Results of Operations](#i18413d5774924ebe91d7c266682402d4_115)</u> | <u>[23](#i18413d5774924ebe91d7c266682402d4_115)</u> |
| <u>[Item 3](#i18413d5774924ebe91d7c266682402d4_136)</u> | <u>[Quantitative and Qualitative Disclosures About Market Risk](#i18413d5774924ebe91d7c266682402d4_136)</u> | <u>[34](#i18413d5774924ebe91d7c266682402d4_136)</u> |
| <u>[Item 4](#i18413d5774924ebe91d7c266682402d4_139)</u> | <u>[Controls and Procedures](#i18413d5774924ebe91d7c266682402d4_139)</u> | <u>[36](#i18413d5774924ebe91d7c266682402d4_139)</u> |
| **<u>[PART II. OTHER INFORMATION](#i18413d5774924ebe91d7c266682402d4_142)</u>** | **<u>[PART II. OTHER INFORMATION](#i18413d5774924ebe91d7c266682402d4_142)</u>** | **<u>[PART II. OTHER INFORMATION](#i18413d5774924ebe91d7c266682402d4_142)</u>** |
| <u>[Item 1](#i18413d5774924ebe91d7c266682402d4_145)</u> | <u>[Legal Proceedings](#i18413d5774924ebe91d7c266682402d4_145)</u> | <u>[37](#i18413d5774924ebe91d7c266682402d4_145)</u> |
| <u>[Item 1A](#i18413d5774924ebe91d7c266682402d4_148)</u> | <u>[Risk Factors](#i18413d5774924ebe91d7c266682402d4_148)</u> | <u>[37](#i18413d5774924ebe91d7c266682402d4_148)</u> |
| <u>[Item 2](#i18413d5774924ebe91d7c266682402d4_151)</u> | <u>[Unregistered Sales of Equity Securities and Use of Proceeds](#i18413d5774924ebe91d7c266682402d4_151)</u> | <u>[70](#i18413d5774924ebe91d7c266682402d4_151)</u> |
| <u>[Item 3](#i18413d5774924ebe91d7c266682402d4_154)</u> | <u>[Defaults Upon Senior Securities](#i18413d5774924ebe91d7c266682402d4_154)</u> | <u>[70](#i18413d5774924ebe91d7c266682402d4_154)</u> |
| <u>[Item 4](#i18413d5774924ebe91d7c266682402d4_157)</u> | <u>[Mine Safety Disclosures](#i18413d5774924ebe91d7c266682402d4_157)</u> | <u>[70](#i18413d5774924ebe91d7c266682402d4_157)</u> |
| <u>[Item 5](#i18413d5774924ebe91d7c266682402d4_160)</u> | <u>[Other Information](#i18413d5774924ebe91d7c266682402d4_160)</u> | <u>[70](#i18413d5774924ebe91d7c266682402d4_160)</u> |
| <u>[Item 6](#i18413d5774924ebe91d7c266682402d4_166)</u> | <u>[Exhibits](#i18413d5774924ebe91d7c266682402d4_166)</u> | <u>[71](#i18413d5774924ebe91d7c266682402d4_166)</u> |
| <u>[Signatures](#i18413d5774924ebe91d7c266682402d4_169)</u> | <u>[Signatures](#i18413d5774924ebe91d7c266682402d4_169)</u> | <u>[72](#i18413d5774924ebe91d7c266682402d4_169)</u> |

---

i

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**NOTE ABOUT FORWARD-LOOKING STATEMENTS**

This Quarterly Report on Form 10-Q (this Quarterly Report), including the sections titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors," contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended, involving substantial risks and uncertainties. The words "believe," "may," "will," "potentially," "plan," "could," "should," "predict," "ongoing," "estimate," "continue," "anticipate," "intend," "project," "expect," "seek," or the negative of these words, or terms or similar expressions conveying uncertainty of future events or outcomes, or that concern our expectations, strategy, plans or intentions, are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, or expected. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements discussed under the heading "Risk Factors" in Part II, Item 1A, and in our publicly available filings and press releases. These statements include, among other things, those regarding:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to continue to increase sales to new and existing customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to develop new solutions and bring them to market in a timely manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to timely and effectively scale and adapt our existing solutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to deploy new and evolving technologies, such as artificial intelligence, generative artificial intelligence, agentic artificial intelligence, machine learning, and similar tools (collectively, AI) in our offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our dependence on establishing and maintaining a strong brand;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the occurrence of service interruptions and security or privacy incidents and related remediation efforts and fines;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• system failures or capacity constraints;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the rate of growth of, and anticipated trends and challenges in, our business and in the market for our products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our future financial performance, including our expectations regarding our revenue, cost of revenue, operating expenses, including changes in technology and development, marketing and advertising, general and administrative and customer care expenses, and our ability to maintain future profitability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to maintain our high customer retention rates and grow the level of our customers' lifetime spend;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to provide high quality customer care;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effects of increased competition in our markets and our ability to compete effectively;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to grow internationally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of fluctuations in foreign currency exchange rates on our business and our ability to effectively manage the exposure to such fluctuations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to effectively manage our growth and associated investments, including the migration of applications and services to the public cloud;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to integrate acquisitions, our entry into new lines of business and our ability to achieve expected results from our integrations and new lines of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to complete desired or proposed divestitures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to maintain our relationships with our partners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse consequences of our level of indebtedness and our ability to repay our debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to maintain, protect and enhance our intellectual property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to maintain or improve our market share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sufficiency of cash and cash equivalents to meet our needs for at least the next 12 months;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• beliefs and objectives for future operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to stay in compliance with laws, rules and regulations currently applicable to, or which may become applicable to, our business both in the United States (U.S.) and internationally;

ii

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**NOTE ABOUT FORWARD-LOOKING STATEMENTS (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• economic and industry trends or trend analysis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to attract and retain qualified employees and key personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipated income tax rates, tax estimates and tax standards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our future taxable income and ability to realize our deferred tax assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• interest rate changes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the future trading prices of our Class A common stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding the outcome of any regulatory investigation or litigation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the amount and timing of future repurchases of our Class A common stock under any share repurchase program; as well as other statements regarding our future operations, financial condition, growth prospects and business strategies.

We operate in very competitive and rapidly-changing environments, and new risks emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this Quarterly Report may not occur, and actual results could differ materially and adversely from those implied in our forward-looking statements.

You should not rely upon forward-looking statements as predictions of future events. Although we believe the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Neither we, nor any other person, assume responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to publicly update any forward-looking statements for any reason after the date of this Quarterly Report to conform such statements to actual results or to changes in our expectations, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Investors and others should note that we use our Investor Relations website (https://investors.godaddy.net) as a means of disclosing material financial information. Accordingly, investors should monitor our Investor Relations website, in addition to following press releases, Securities and Exchange Commission filings, public conference calls and webcasts.

Unless expressly indicated or the context suggests otherwise, references to "GoDaddy," "company," "we," "us" and "our" refer to GoDaddy Inc. and its consolidated subsidiaries.

iii

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**Part I - FINANCIAL INFORMATION**

**Item 1. Financial Statements**

**GoDaddy Inc.**

**Consolidated Balance Sheets**

**(In millions, except shares in thousands and per share amounts)**

---

| | | |
|:---|:---|:---|
| | **June 30,**<br>**2025** | **December 31,**<br>**2024** |
| | **(unaudited)** | |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1086.7 | $1089.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts and other receivables | 113.8 | 91.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Registry deposits | 44.5 | 34.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid domain name registry fees | 522.0 | 492.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 156.4 | 245.2 |
| Total current assets | 1923.4 | 1951.8 |
| Property and equipment, net | 148.5 | 156.4 |
| Operating lease assets | 48.6 | 49.4 |
| Prepaid domain name registry fees, net of current portion | 239.8 | 224.8 |
| Goodwill | 3644.0 | 3518.9 |
| Intangible assets, net | 1022.2 | 1055.8 |
| Deferred tax assets | 1155.3 | 1181.5 |
| Other assets | 92.1 | 96.8 |
| Total assets | $8273.9 | $8235.4 |
| **Liabilities and stockholders' equity** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $82.7 | $81.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 519.3 | 378.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 2399.7 | 2222.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt, current portion | 15.7 | 15.9 |
| Total current liabilities | 3017.4 | 2698.4 |
| Deferred revenue, net of current portion | 937.8 | 883.2 |
| Long-term debt, net of current portion | 3772.4 | 3779.1 |
| Operating lease liabilities, net of current portion | 69.5 | 76.7 |
| Other long-term liabilities | 57.8 | 85.7 |
| Deferred tax liabilities | 14.6 | 20.2 |
| Commitments and contingencies |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, $0.001 par value - 50,000 shares authorized; none issued and outstanding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A common stock, $0.001 par value - 1,000,000 shares authorized; 138,863 and 141,208 issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 0.1 | 0.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 2799.8 | 2611.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (2431.2) | (2052.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | 35.7 | 132.5 |
| Total stockholders' equity | 404.4 | 692.1 |
| Total liabilities and stockholders' equity | $8273.9 | $8235.4 |

---

*See accompanying notes to consolidated financial statements.*

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**GoDaddy Inc.** 

**Consolidated Statements of Operations (unaudited)**

**(In millions, except shares in thousands and per share amounts)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** <br>**June 30,** | **Three Months Ended** <br>**June 30,** | **Six Months Ended** <br>**June 30,** | **Six Months Ended** <br>**June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applications and commerce | $463.9 | $405.6 | $910.3 | $788.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core platform | 753.7 | 718.9 | 1501.6 | 1444.3 |
| Total revenue | 1217.6 | 1124.5 | 2411.9 | 2233.0 |
| Costs and operating expenses<sup>(1)</sup>: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue (excluding depreciation and amortization) | 442.3 | 408.3 | 882.8 | 822.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology and development | 214.3 | 205.9 | 419.6 | 408.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and advertising | 93.4 | 93.2 | 193.5 | 180.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer care | 73.5 | 73.3 | 144.6 | 149.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 96.9 | 95.6 | 194.0 | 187.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring and other | 0.3 | 6.9 | 2.4 | 29.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 30.6 | 33.1 | 61.4 | 70.3 |
| Total costs and operating expenses | 951.3 | 916.3 | 1898.3 | 1848.9 |
| Operating income | 266.3 | 208.2 | 513.6 | 384.1 |
| Interest expense | (38.3) | (39.5) | (75.5) | (80.8) |
| Loss on debt extinguishment |  | (2.1) |  | (3.1) |
| Other income (expense), net | 11.1 | 8.3 | 21.0 | 17.9 |
| Income before income taxes | 239.1 | 174.9 | 459.1 | 318.1 |
| Benefit (provision) for income taxes | (39.2) | (28.6) | (39.7) | 229.7 |
| Net income | $199.9 | $146.3 | $419.4 | $547.8 |
| Net income per share of Class A common stock: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $1.44 | $1.04 | $2.99 | $3.86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | $1.41 | $1.01 | $2.92 | $3.77 |
| Weighted-average shares of Class A common stock outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 138734 | 141269 | 140200 | 141899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 141408 | 144644 | 143387 | 145321 |
| ___________________________ |  |  |  |  |
| <sup>(1)</sup> Costs and operating expenses include equity-based compensation expense as follows: | <sup>(1)</sup> Costs and operating expenses include equity-based compensation expense as follows: | <sup>(1)</sup> Costs and operating expenses include equity-based compensation expense as follows: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue | $0.3 | $0.3 | $0.6 | $0.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology and development | 43.3 | 39.3 | 84.5 | 76.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and advertising | 8.5 | 7.9 | 16.7 | 15.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer care | 5.7 | 5.7 | 10.8 | 11.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 23.2 | 23.0 | 48.8 | 43.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring and other |  |  |  | 0.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity-based compensation expense | $81.0 | $76.2 | $161.4 | $148.0 |

---

*See accompanying notes to consolidated financial statements.*

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**GoDaddy Inc.**

**Consolidated Statements of Comprehensive Income (unaudited)**

**(In millions)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** <br>**June 30,** | **Three Months Ended** <br>**June 30,** | **Six Months Ended** <br>**June 30,** | **Six Months Ended** <br>**June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Net income | $199.9 | $146.3 | $419.4 | $547.8 |
| Foreign exchange forward contracts gain (loss), net<sup>(1)</sup> | (41.1) | 1.2 | (56.1) | 10.5 |
| Unrealized swap gain (loss), net<sup>(1)</sup> | 0.5 | (6.7) | (9.6) | 3.8 |
| Change in foreign currency translation adjustment | (26.3) | 6.3 | (31.1) | 10.1 |
| Comprehensive income | $133.0 | $147.1 | $322.6 | $572.2 |
| ___________________________ |  |  |  |  |
| <sup>(1)</sup> Amounts are net of the tax effects reflected below: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange forward contracts gain (loss), net | $(12.4) | $— | $(16.9) | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized swap gain (loss), net | $(18.8) | $1.2 | $(29.1) | $9.7 |

---

*See accompanying notes to consolidated financial statements.*

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**GoDaddy Inc.**

**Consolidated Statements of Stockholders' Equity (Deficit) (unaudited)**

**(In millions, except shares in thousands)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Class A Common Stock** | **Class A Common Stock** | **Additional<br>Paid-in<br>Capital** | **Accumulated Deficit** | **Accumulated Other Comprehensive Income** | **Total** |
| | **Shares** | **Amount** | **Additional<br>Paid-in<br>Capital** | **Accumulated Deficit** | **Accumulated Other Comprehensive Income** | **Total** |
| Balance at December 31, 2024 | 141208 | $0.1 | $2611.8 | $(2052.3) | $132.5 | $692.1 |
| Net income |  |  |  | 219.5 |  | 219.5 |
| Equity-based compensation, including amounts capitalized |  |  | 80.9 |  |  | 80.9 |
| Stock option exercises | 81 |  | 2.5 |  |  | 2.5 |
| Repurchases of Class A common stock<sup>(1)</sup> |  |  |  | (765.1) |  | (765.1) |
| Impact of derivatives, net |  |  |  |  | (25.1) | (25.1) |
| Change in foreign currency translation adjustment |  |  |  |  | (4.8) | (4.8) |
| Vesting of restricted stock units and other | 1142 |  | (0.2) | (0.1) |  | (0.3) |
| Balance at March 31, 2025 | 142431 | 0.1 | 2695.0 | (2598.0) | 102.6 | 199.7 |
| Net income |  |  |  | 199.9 |  | 199.9 |
| Equity-based compensation, including amounts capitalized |  |  | 81.6 |  |  | 81.6 |
| Stock option exercises | 79 |  | 3.9 |  |  | 3.9 |
| Repurchases of Class A common stock<sup>(1)</sup> | (4510) |  |  | (33.2) |  | (33.2) |
| Issuance of Class A common stock under the 2024 Employee Stock Purchase Plan | 124 |  | 19.2 |  |  | 19.2 |
| Impact of derivatives, net |  |  |  |  | (40.6) | (40.6) |
| Change in foreign currency translation adjustment |  |  |  |  | (26.3) | (26.3) |
| Vesting of restricted stock units and other | 739 |  | 0.1 | 0.1 |  | 0.2 |
| Balance at June 30, 2025 | 138863 | $0.1 | $2799.8 | $(2431.2) | $35.7 | $404.4 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)Includes a 1% excise tax on shares repurchased, net of the fair market value of new share issuances of $(2.3) million and $6.3 million for the three months ended March 31, 2025 and June 30, 2025, respectively.

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**GoDaddy Inc.**

**Consolidated Statements of Stockholders' Equity (Deficit) (unaudited) (continued)**

**(In millions, except shares in thousands)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Class A Common Stock** | **Class A Common Stock** | **Additional<br>Paid-in<br>Capital** | **Accumulated Deficit** | **Accumulated Other Comprehensive Income (Loss)** | **Total** |
| | **Shares** | **Amount** | **Additional<br>Paid-in<br>Capital** | **Accumulated Deficit** | **Accumulated Other Comprehensive Income (Loss)** | **Total** |
| Balance at December 31, 2023 | 142051 | $0.1 | $2271.6 | $(2320.7) | $111.2 | $62.2 |
| Net income |  |  |  | 401.5 |  | 401.5 |
| Equity-based compensation, including amounts capitalized |  |  | 72.3 |  |  | 72.3 |
| Stock option exercises | 80 |  | 2.1 |  |  | 2.1 |
| Repurchases of Class A common stock<sup>(1)</sup> | (1245) |  |  | (147.1) |  | (147.1) |
| Impact of derivatives, net |  |  |  |  | 19.8 | 19.8 |
| Change in foreign currency translation adjustment |  |  |  |  | 3.8 | 3.8 |
| Vesting of restricted stock units and other | 1543 |  | (0.1) | 0.1 | 0.2 | 0.2 |
| Balance at March 31, 2024 | 142429 | 0.1 | 2345.9 | (2066.2) | 135.0 | 414.8 |
| Net income |  |  |  | 146.3 |  | 146.3 |
| Equity-based compensation, including amounts capitalized |  |  | 76.8 |  |  | 76.8 |
| Stock option exercises | 46 |  | 1.8 |  |  | 1.8 |
| Repurchases of Class A common stock<sup>(1) (2)</sup> | (2058) |  |  | (502.8) |  | (502.8) |
| Issuance of Class A common stock under the 2015 Employee Stock Purchase Plan | 249 |  | 19.5 |  |  | 19.5 |
| Impact of derivatives, net |  |  |  |  | (5.5) | (5.5) |
| Change in foreign currency translation adjustment |  |  |  |  | 6.3 | 6.3 |
| Vesting of restricted stock units and other | 789 |  | (0.1) | (0.1) |  | (0.2) |
| Balance at June 30, 2024 | 141455 | $0.1 | $2443.9 | $(2422.8) | $135.8 | $157.0 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)Includes a 1% excise tax on shares repurchased, net of the fair market value of new share issuances, of $(0.5) million and $1.3 million for the three months ended March 31, 2024 and June 30, 2024, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(2)Includes $245.0 million of upfront payments to repurchase shares of our Class A common stock in conjunction with ASRs. No shares were initially received with these ASRs.

*See accompanying notes to consolidated financial statements.*

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**GoDaddy Inc.**

**Consolidated Statements of Cash Flows (unaudited)**

**(In millions)**

---

| | | |
|:---|:---|:---|
| | **Six Months Ended**<br>**June 30,** | **Six Months Ended**<br>**June 30,** |
| | **2025** | **2024** |
| **Operating activities** |  |  |
| Net income | $419.4 | $547.8 |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 61.4 | 70.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity-based compensation expense | 161.4 | 148.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on derivative instruments | 44.8 | (13.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes | 18.7 | (225.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 19.9 | 22.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid domain name registry fees | (43.1) | (32.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (0.4) | (52.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | (34.7) | (39.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 223.8 | 225.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other operating assets and liabilities | (86.6) | (58.9) |
| Net cash provided by operating activities | 784.6 | 592.0 |
| **Investing activities** |  |  |
| Maturities of short-term investments |  | 40.0 |
| Purchases of property and equipment | (7.7) | (7.2) |
| Other investing activities | (2.3) | 8.1 |
| Net cash provided by (used in) investing activities | (10.0) | 40.9 |
| **Financing activities** |  |  |
| Proceeds received from: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of term loans |  | 2752.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock option exercises | 6.4 | 3.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of Class A common stock under Employee Stock Purchase Plans (ESPPs)<sup>(1)</sup> | 19.2 | 19.5 |
| Payments made for: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchases of Class A common stock | (792.5) | (649.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayment of long-term debt | (12.3) | (2762.3) |
| Other financing activities | (2.5) | (10.4) |
| Net cash used in financing activities | (781.7) | (646.2) |
| Effect of exchange rate changes on cash and cash equivalents | 4.8 | (0.6) |
| Net increase (decrease) in cash and cash equivalents | (2.3) | (13.9) |
| Cash and cash equivalents, beginning of period | 1089.0 | 458.8 |
| Cash and cash equivalents, end of period | $1086.7 | $444.9 |

---

---

| | | |
|:---|:---|:---|
| **Cash paid during the period for:** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on long-term debt, including impact of interest rate swaps | $69.0 | $76.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes, net of refunds received | $19.9 | $14.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amounts included in the measurement of operating lease liabilities | $18.1 | $20.5 |
| **Supplemental disclosure of non-cash transactions** |  |  |
| Operating lease assets obtained in exchange for operating lease liabilities | $1.7 | $11.4 |

---

**_____________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)Employee Stock Purchase Plans include shares repurchased under the 2015 Employee Stock Purchase Plan for the six months ended 2024 and shares repurchased under the 2024 Employee Stock Purchase Plan for the six months ended 2025.

*See accompanying notes to consolidated financial statements.*

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**GoDaddy Inc.**

**Notes to Consolidated Financial Statements (unaudited)**

**(In millions, except shares in thousands and per share amounts)**

---

| | | |
|:---|:---|:---|
| <u>[Note 1](#i18413d5774924ebe91d7c266682402d4_49)</u> | <u>[Organization and Background](#i18413d5774924ebe91d7c266682402d4_49)</u> | <u>[7](#i18413d5774924ebe91d7c266682402d4_49)</u> |
| <u>[Note 2](#i18413d5774924ebe91d7c266682402d4_52)</u> | <u>[Summary of Significant Accounting Policies](#i18413d5774924ebe91d7c266682402d4_52)</u> | <u>[8](#i18413d5774924ebe91d7c266682402d4_52)</u> |
| <u>[Note 3](#i18413d5774924ebe91d7c266682402d4_55)</u> | <u>[Goodwill and Intangible Assets](#i18413d5774924ebe91d7c266682402d4_55)</u> | <u>[10](#i18413d5774924ebe91d7c266682402d4_55)</u> |
| <u>[Note 4](#i18413d5774924ebe91d7c266682402d4_58)</u> | <u>[Stockholders' Equity](#i18413d5774924ebe91d7c266682402d4_58)</u> | <u>[11](#i18413d5774924ebe91d7c266682402d4_58)</u> |
| <u>[Note 5](#i18413d5774924ebe91d7c266682402d4_61)</u> | <u>[Prepaid Expenses and Other Current Assets](#i18413d5774924ebe91d7c266682402d4_61)</u> | <u>[12](#i18413d5774924ebe91d7c266682402d4_61)</u> |
| <u>[Note 6](#i18413d5774924ebe91d7c266682402d4_64)</u> | <u>[Equity-Based Compensation Plans](#i18413d5774924ebe91d7c266682402d4_64)</u> | <u>[12](#i18413d5774924ebe91d7c266682402d4_64)</u> |
| <u>[Note 7](#i18413d5774924ebe91d7c266682402d4_67)</u> | <u>[Deferred Revenue](#i18413d5774924ebe91d7c266682402d4_67)</u> | <u>[13](#i18413d5774924ebe91d7c266682402d4_67)</u> |
| <u>[Note 8](#i18413d5774924ebe91d7c266682402d4_73)</u> | <u>[Accrued Expenses and Other Current Liabilities](#i18413d5774924ebe91d7c266682402d4_73)</u> | <u>[13](#i18413d5774924ebe91d7c266682402d4_73)</u> |
| <u>[Note 9](#i18413d5774924ebe91d7c266682402d4_76)</u> | <u>[Long-Term Debt](#i18413d5774924ebe91d7c266682402d4_76)</u> | <u>[14](#i18413d5774924ebe91d7c266682402d4_76)</u> |
| <u>[Note 10](#i18413d5774924ebe91d7c266682402d4_82)</u> | <u>[Derivatives and Hedging](#i18413d5774924ebe91d7c266682402d4_82)</u> | <u>[15](#i18413d5774924ebe91d7c266682402d4_82)</u> |
| <u>[Note 11](#i18413d5774924ebe91d7c266682402d4_85)</u> | <u>[Leases](#i18413d5774924ebe91d7c266682402d4_85)</u> | <u>[17](#i18413d5774924ebe91d7c266682402d4_85)</u> |
| <u>[Note 12](#i18413d5774924ebe91d7c266682402d4_88)</u> | <u>[Commitments and Contingencies](#i18413d5774924ebe91d7c266682402d4_88)</u> | <u>[18](#i18413d5774924ebe91d7c266682402d4_88)</u> |
| <u>[Note 13](#i18413d5774924ebe91d7c266682402d4_91)</u> | <u>[Restructuring and Other Charges](#i18413d5774924ebe91d7c266682402d4_91)</u> | <u>[18](#i18413d5774924ebe91d7c266682402d4_91)</u> |
| <u>[Note 14](#i18413d5774924ebe91d7c266682402d4_97)</u> | <u>[Income Taxes](#i18413d5774924ebe91d7c266682402d4_97)</u> | <u>[19](#i18413d5774924ebe91d7c266682402d4_97)</u> |
| <u>[Note 15](#i18413d5774924ebe91d7c266682402d4_100)</u> | <u>[Income Per Share](#i18413d5774924ebe91d7c266682402d4_100)</u> | <u>[19](#i18413d5774924ebe91d7c266682402d4_100)</u> |
| <u>[Note 16](#i18413d5774924ebe91d7c266682402d4_103)</u> | <u>[Segment Information](#i18413d5774924ebe91d7c266682402d4_103)</u> | <u>[20](#i18413d5774924ebe91d7c266682402d4_103)</u> |
| <u>[Note 17](#i18413d5774924ebe91d7c266682402d4_109)</u> | <u>[Accumulated Other Comprehensive Income (Loss)](#i18413d5774924ebe91d7c266682402d4_109)</u> | <u>[22](#i18413d5774924ebe91d7c266682402d4_109)</u> |

---

**1.&nbsp;&nbsp;&nbsp;&nbsp;Organization and Background**

**Organization**

GoDaddy was incorporated as a Delaware corporation on May 28, 2014. GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services and accept payments. GoDaddy Airo®, the company's AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy's expert guides are available 24/7 to provide assistance.

**Basis of Presentation**

Our financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and include our accounts and the accounts of our subsidiaries. All material intercompany accounts and transactions have been eliminated.

Our interim financial statements are unaudited and, in our opinion, include all adjustments of a normal recurring nature necessary for the fair presentation of the periods presented. The results for interim periods are not necessarily indicative of the results to be expected for any subsequent period or for the year ending December 31, 2025.

These financial statements should be read in conjunction with our audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2024 (the 2024 Form 10-K).

**Prior Period Reclassifications**

Certain prior period amounts have been reclassified to conform to the current period presentation. These amounts were not material to any period presented.

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

**Use of Estimates**

GAAP requires us to make estimates and assumptions affecting amounts reported in our financial statements. We periodically evaluate our estimates and adjust prospectively, if necessary. We believe our estimates and assumptions are reasonable; however, actual results may differ.

**Segments**

We report our operating results through two reportable segments: Applications and Commerce (A&C) and Core Platform (Core), as further discussed in Note 16.

**2.&nbsp;&nbsp;&nbsp;&nbsp;Summary of Significant Accounting Policies**

**Property and Equipment**

Property and equipment, net by geography was as follows:

---

| | | |
|:---|:---|:---|
| | **June 30, 2025** | **December 31, 2024** |
| U.S. | $127.2 | $133.1 |
| All other international | 21.3 | 23.3 |
|  | $148.5 | $156.4 |

---

No single international country represented more than 10% of property and equipment, net in any period presented.

**Equity Investments**

We hold investments in privately held equity securities, which are recorded in other assets, with a carrying value of $55.3 million and $53.1 million as of June 30, 2025 and December 31, 2024, respectively.

**Revenue Recognition**

***Disaggregated Revenue***

Revenue by major product type was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| A&C | $463.9 | $405.6 | $910.3 | $788.7 |
| Core: domains | 566.2 | 529.2 | 1128.1 | 1061.2 |
| Core: other | 187.5 | 189.7 | 373.5 | 383.1 |
|  | $1217.6 | $1124.5 | $2411.9 | $2233.0 |

---

No single customer represented over 10% of our total revenue for any period presented.

Revenue by geography is based on the customer's billing address and was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| U.S. | $821.7 | $767.4 | $1627.2 | $1523.0 |
| International | 395.9 | 357.1 | 784.7 | 710.0 |
|  | $1217.6 | $1124.5 | $2411.9 | $2233.0 |

---

No international country represented more than 10% of total revenue in any period presented.

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

See Note 7 for information regarding our deferred revenue.

***Assets Recognized from Contract Costs***

Costs to fulfill our customer contracts primarily relate to fees paid to various registries at the inception of a domain registration or renewal. We capitalize and recognize these prepaid domain name registry fees as cost of revenue consistent with the pattern of transfer of the product to which the asset relates. Such expense was $208.2 million and $195.8 million for the three months ended June 30, 2025 and 2024, respectively, and was $410.0 million and $389.6 million for the six months ended June 30, 2025 and 2024, respectively.

We have no other material capitalized contract costs.

**Restructuring and Other**

Restructuring and other primarily represents: (i) charges related to restructuring activities undertaken to reduce future operating expenses and improve cash flows through reductions in force during the six months ended June 30, 2025 and June 30, 2024, and (ii) charges incurred related to the abandonment of certain operating lease assets during the six months ended June 30, 2024. See Note 13 for further discussion.

**Fair Value Measurements**

Fair value is defined as an exit price, representing the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. The framework for measuring fair value provides a three-tier hierarchy prioritizing inputs to valuation techniques used in measuring fair value as follows:

*Level 1*— Observable inputs such as quoted prices for identical assets or liabilities in active markets;

*Level 2*— Inputs, other than quoted prices for identical assets or liabilities in active markets, which are observable either directly or indirectly; and

*Level 3*— Unobservable inputs in which there is little or no market data requiring the reporting entity to develop its own assumptions.

We hold certain assets required to be measured at fair value on a recurring basis. These include time deposits and money market funds, which we classify within Level 1 because we use quoted market prices to determine their fair value. Level 2 assets and liabilities include derivative financial instruments associated with hedging activity, as further discussed in Note 10. Derivative financial instruments are measured at fair value on the contract date and are subsequently remeasured each reporting period using inputs such as spot rates, discount rates and forward rates. There are no active markets for the hedge contracts themselves; however, the inputs used to calculate the fair value of the instruments are tied to active markets.

The following tables set forth our material assets and liabilities measured and recorded at fair value on a recurring basis:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Cash and cash equivalents: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Notice deposits | $225.0 | $— | $— | $225.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 145.0 |  |  | 145.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial paper |  | 134.0 |  | 134.0 |
| Derivative assets |  | 68.2 |  | 68.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $370.0 | $202.2 | $— | $572.2 |
| Liabilities: |  |  |  |  |
| Derivative liabilities | $— | $164.3 | $— | $164.3 |

---

------

<u>[**Table of Contents**](#i18413d5774924ebe91d7c266682402d4_7)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Cash and cash equivalents: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | $144.9 | $— | $— | $144.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Notice deposits | 140.0 |  |  | 140.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial paper |  | 134.5 |  | 134.5 |
| Derivative assets |  | 172.7 |  | 172.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $284.9 | $307.2 | $— | $592.1 |

---

We have no other material assets or liabilities measured at fair value on a recurring basis.

**Recent Accounting Pronouncements**

In December 2023, the Financial Accounting Standards Board (FASB) issued guidance to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this guidance require additional disclosures about income taxes, primarily focused on the disclosure of income taxes paid and the rate reconciliation table. The new guidance will be effective for the 2025 fiscal year. We are currently evaluating the impact of this standard on our disclosures within our consolidated financial statements.

In November 2024, the FASB issued guidance requiring public business entities to disaggregate disclosure of income statement expenses. The amendment does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories within the footnotes to the financial statements. This update is effective for our 2027 fiscal year and interim periods in fiscal year 2028, with early adoption permitted. We are currently evaluating the impact of this standard on our disclosures within our consolidated financial statements.

**3.&nbsp;&nbsp;&nbsp;&nbsp;Goodwill and Intangible Assets**

The following table summarizes changes in our goodwill balance by segment:

---

| | | | |
|:---|:---|:---|:---|
| | **A&C** | **Core** | **Total** |
| Balance at December 31, 2024 | $1493.1 | $2025.8 | $3518.9 |
| Impact of foreign currency translation | 52.5 | 72.6 | 125.1 |
| Balance at June 30, 2025 | $1545.6 | $2098.4 | $3644.0 |

---

Intangible assets, net are summarized as follows:

---

| | | | |
|:---|:---|:---|:---|
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| | **Gross <br>Carrying<br>Amount** | **Accumulated<br>Amortization** | **Net Carrying<br>Amount** |
| Indefinite-lived intangible assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade names and branding | $445.0 | n/a | $445.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domain portfolio | 219.0 | n/a | 219.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contractual-based assets | 292.7 | n/a | 292.7 |
| Finite-lived intangible assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer-related | 434.4 | $(399.6) | 34.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Developed technology | 241.7 | (232.2) | 9.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade names and other | 101.1 | (79.9) | 21.2 |
|  | $1733.9 | $(711.7) | $1022.2 |

---

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---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Gross <br>Carrying<br>Amount** | **Accumulated<br>Amortization** | **Net Carrying<br>Amount** |
| Indefinite-lived intangible assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade names and branding | $445.0 | n/a | $445.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domain portfolio | 220.5 | n/a | 220.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contractual-based assets | 292.7 | n/a | 292.7 |
| Finite-lived intangible assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer-related | 394.2 | $(340.8) | 53.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Developed technology | 235.1 | (215.9) | 19.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade names and other | 93.2 | (68.2) | 25.0 |
|  | $1680.7 | $(624.9) | $1055.8 |

---

Amortization expense was $19.2 million for the three months ended June 30, 2025 and 2024, and was $38.1 million and $39.7 million for the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, the weighted-average remaining amortization period was 17 months for total amortizable intangible assets, 11 months for customer-related, 8 months for developed technology and 31 months for trade names and other.

Based on the balance of finite-lived intangible assets as of June 30, 2025, expected future amortization expense is as follows:

---

| | |
|:---|:---|
| Year Ending December 31: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 (remainder of) | $34.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026 | 24.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027 | 4.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2028 | 1.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029 | 1.2 |
|  | $65.5 |

---

**4.&nbsp;&nbsp;&nbsp;&nbsp;Stockholders' Equity**

**Share Repurchases**

Our board of directors (board) previously authorized the repurchase of up to $4,000 million of our Class A common stock. During the three months ended March 31, 2025, we made upfront payments totaling $767.4 million, which was equivalent to the amount remaining under this board authorization, to enter into two accelerated share repurchase agreements (ASRs) to repurchase shares of our Class A common stock. The ASRs were forward contracts indexed to our Class A common stock and met all of the applicable criteria for equity classification; therefore, the ASRs were not accounted for as derivative instruments. During April 2025, the ASRs were settled in full with the delivery of approximately 4.4 million shares of Class A common stock at a weighted average price of $176.02 per share. The total number of shares delivered under each ASR, and therefore the average purchase price paid per share, was determined based on the volume weighted-average price of our stock during the applicable purchase period less an agreed upon discount and subject to a cap. The shares received were retired at the time of delivery.

Upon completion of the prior repurchase authorization, as described above, in April 2025, our board approved the repurchase of up to an additional $3,000 million of our Class A common stock through the end of 2027. Shares may be repurchased in open market purchases, block transactions and privately negotiated transactions, in accordance with applicable federal securities laws. This authorization does not obligate us to make any repurchases and may be modified, suspended or terminated by us at any time without prior notice. During the six months ended June 30, 2025, we repurchased a total of approximately 0.2 million shares of our Class A common stock, which were retired upon repurchase, for an aggregate purchase price of $27.0 million. As of June 30, 2025, we had $2,973.0 million remaining available for repurchases under the current board authorization.

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**5.&nbsp;&nbsp;&nbsp;&nbsp;Prepaid Expenses and Other Current Assets**

Prepaid expenses and other current assets consisted of the following:

---

| | | |
|:---|:---|:---|
| | **June 30, 2025** | **December 31, 2024** |
| Derivative assets | $68.2 | $172.7 |
| Prepaid software and maintenance expenses | 51.8 | 33.2 |
| Usage-based prepaid expenses<sup>(1)</sup> | 11.5 | 20.2 |
| Other | 24.9 | 19.1 |
|  | $156.4 | $245.2 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)Usage-based prepaid expenses include various cost of sales, marketing, rent and other prepaid commitments that are amortized as the related services are utilized.

**6.&nbsp;&nbsp;&nbsp;&nbsp;Equity-Based Compensation Plans**

**Equity Plan Activity**

We have granted stock options at exercise prices equal to the fair market value of our Class A common stock on the grant date as well as granted both stock options and restricted stock awards (RSUs) vesting solely upon the continued service of the recipient. Stock options were last granted in 2020. Performance-based awards (PSUs) vest based on our relative total stockholder return (TSR) as compared to an index of public internet companies.

The following table summarizes stock option activity:

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares of Class A Common Stock (#)** | **Weighted-<br>Average<br>Exercise<br>Price ($)** |
| Outstanding at December 31, 2024 | 645 | 54.28 |
| Exercised | (160) | 40.10 |
| Outstanding and vested at June 30, 2025 | 485 | 58.96 |

---

The following table summarizes stock award activity:

---

| | |
|:---|:---|
| | **Number of<br>Shares of Class A Common Stock (#)** |
| Outstanding at December 31, 2024 | 4955 |
| Granted: RSUs | 1336 |
| Granted: TSR-based PSUs | 150 |
| TSR-based PSU achievement above target | 210 |
| Vested | (1881) |
| Forfeited | (241) |
| Outstanding at June 30, 2025<sup>(1)</sup> | 4529 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)The balance of outstanding awards consisted of the following:

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares of Class A Common Stock (#)** | **Weighted-Average Grant-Date Fair Value Per Share ($)** |
| RSUs | 3967 | 124.77 |
| TSR-based PSUs | 562 | 168.96 |
| &nbsp;&nbsp;&nbsp;&nbsp;Outstanding at June 30, 2025 | 4529 |  |

---

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As of June 30, 2025, total unrecognized compensation expense related to non-vested equity grants was $458.9 million with an expected remaining weighted-average recognition period of 1.8 years.

**7.&nbsp;&nbsp;&nbsp;&nbsp;Deferred Revenue**

Deferred revenue consisted of the following:

---

| | | |
|:---|:---|:---|
| | **June 30, 2025** | **December 31, 2024** |
| Current: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A&C | $877.0 | $783.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core | 1522.7 | 1439.1 |
|  | $2399.7 | $2222.3 |
| Noncurrent: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A&C | $217.0 | $197.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core | 720.8 | 686.2 |
|  | $937.8 | $883.2 |

---

The increase in deferred revenue is primarily driven by payments received in advance of satisfying our performance obligations, offset by $673.5 million and $1,543.8 million of revenue recognized during the three and six months ended June 30, 2025 that was included in the deferred revenue balance as of December 31, 2024. Deferred revenue as of June 30, 2025 represents our aggregate remaining performance obligations that will be recognized as revenue over the period in which the performance obligations are expected to be satisfied, as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Remainder of 2025** | **2026** | **2027** | **2028** | **2029** | **Thereafter** | **Total** |
| A&C | $618.4 | $349.5 | $95.2 | $21.2 | $6.0 | $3.7 | $1094.0 |
| Core | 1006.1 | 767.7 | 242.1 | 97.8 | 53.4 | 76.4 | 2243.5 |
|  | $1624.5 | $1117.2 | $337.3 | $119.0 | $59.4 | $80.1 | $3337.5 |

---

**8. &nbsp;&nbsp;&nbsp;&nbsp;Accrued Expenses and Other Current Liabilities** 

Accrued expenses and other current liabilities consisted of the following:

---

| | | |
|:---|:---|:---|
| | **June 30, 2025** | **December 31, 2024** |
| Derivative liabilities | $164.3 | $— |
| Accrued payroll and employee benefits | 97.7 | 146.0 |
| Tax-related accruals | 75.0 | 66.9 |
| Accrued hosting and software licenses | 33.6 | 17.8 |
| Accrued legal and professional | 27.5 | 35.3 |
| Current portion of operating lease liabilities | 24.1 | 23.0 |
| Other | 97.1 | 89.6 |
|  | $519.3 | $378.6 |

---

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**9.&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Debt**

Long-term debt consisted of the following:

---

| | | | |
|:---|:---|:---|:---|
| | **Maturity Date** | **June 30, 2025** | **December 31, 2024** |
| 2029 Term Loans (effective interest rate of 6.7% at June 30, 2025 and 7.6% at December 31, 2024) | November 10, 2029 | $1451.5 | $1458.9 |
| 2031 Term Loans (effective interest rate of 6.3% at June 30, 2025 and 7.2% at December 31, 2024) | May 31, 2031 | 990.0 | 995.0 |
| 2027 Senior Notes (effective interest rate of 5.5% at June 30, 2025 and 5.4% at December 31, 2024) | December 1, 2027 | 600.0 | 600.0 |
| 2029 Senior Notes (effective interest rate of 3.7% at June 30, 2025 and 3.6% at December 31, 2024) | March 1, 2029 | 800.0 | 800.0 |
| Revolver | November 10, 2027 |  |  |
| Total |  | 3841.5 | 3853.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: unamortized original issue discount and debt issuance costs<sup>(1)</sup> |  | (53.4) | (58.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: current portion of long-term debt |  | (15.7) | (15.9) |
|  |  | $3772.4 | $3779.1 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)Original issue discount and debt issuance costs are amortized to interest expense over the life of the related debt instruments using the interest method.

**Credit Facility**

As described in our 2024 Form 10-K, our secured credit agreement (the Credit Facility) includes two tranches of term loans (the 2029 Term Loans and the 2031 Term Loans). A portion of the term loans is hedged by interest rate swap agreements, as discussed in Note 10.

As of June 30, 2025, we had $994.7 million available for borrowing under the Revolver as $5.3 million has been used to secure the issuance of standby letters of credit.

**Senior Notes**

As described in our 2024 Form 10-K, we have completed two offerings of senior notes (the Senior Notes), the 2027 Senior Notes due in 2027 and the 2029 Senior Notes due in 2029.

**Fair Value**

The estimated fair values of our long-term debt instruments are based on observable market prices for these instruments, which are traded in less active markets and therefore classified as Level 2 fair value measurements, and were as follows as of June 30, 2025:

---

| | |
|:---|:---|
| 2029 Term Loans | $1454.2 |
| 2031 Term Loans | $991.9 |
| 2027 Senior Notes | $599.9 |
| 2029 Senior Notes | $756.6 |

---

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**Future Debt Maturities**

Aggregate principal payments, exclusive of any unamortized original issue discount and debt issuance costs, due on long-term debt as of June 30, 2025 were as follows:

---

| | |
|:---|:---|
| Year Ending December 31: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 (remainder of) | $12.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026 | 24.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027 | 624.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2028 | 24.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029 | 2210.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thereafter | 945.1 |
|  | $3841.5 |

---

**10.&nbsp;&nbsp;&nbsp;&nbsp;Derivatives and Hedging**

We utilize the following derivative instruments designated as cash flow hedges:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• foreign exchange forward contracts to hedge certain forecasted sales transactions denominated in foreign currencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cross-currency swaps used to manage variability due to movements in foreign currency exchange rates related to a Euro-denominated intercompany loan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• pay-fixed rate, receive-floating rate interest rate swaps to effectively convert portions of our variable-rate debt to fixed.

We also utilize cross-currency swaps designated as net investment hedges to mitigate the risk associated with exchange rate fluctuations on our net investment in certain foreign operations.

The following table summarizes our outstanding derivative instruments on a gross basis, all of which are considered Level 2 financial instruments:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Notional Amount** | **Notional Amount** | **Fair Value of Derivative Assets**<sup>(2)</sup> | **Fair Value of Derivative Assets**<sup>(2)</sup> | **Fair Value of Derivative Liabilities**<sup>(2)</sup> | **Fair Value of Derivative Liabilities**<sup>(2)</sup> |
| | **June 30, 2025** | **December 31, 2024** | **June 30, 2025** | **December 31, 2024** | **June 30, 2025** | **December 31, 2024** |
| <u>Cash flow hedges:</u> |  |  |  |  |  |  |
| Foreign exchange forward contracts | $966.9 | $946.3 | $— | $33.2 | $39.0 | $— |
| Cross-currency swaps<sup>(1)</sup> | 589.3 | 520.4 |  | 12.5 | 54.9 |  |
| Interest rate swaps | 1928.6 | 1939.0 | 68.2 | 111.0 |  |  |
| <u>Net investment hedges:</u> |  |  |  |  |  |  |
| Cross-currency swaps<sup>(1)</sup> | 755.4 | 667.0 |  | 16.0 | 70.4 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total hedges | $4240.2 | $4072.7 | $68.2 | $172.7 | $164.3 | $— |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)The notional values of the cross-currency swap have been translated from Euros to U.S. dollars at the foreign currency rates in effect of approximately 1.18 and 1.04 as of June 30, 2025 and December 31, 2024, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(2)In our balance sheets, all derivative assets are recorded within prepaid expenses and other current assets and all derivative liabilities are recorded within accrued expenses and other current liabilities.

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The following table summarizes the effect of our hedging relationships on accumulated other comprehensive income (AOCI):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Unrealized Gains (Losses) Recognized in Other Comprehensive Income** | **Unrealized Gains (Losses) Recognized in Other Comprehensive Income** | **Unrealized Gains (Losses) Recognized in Other Comprehensive Income** | **Unrealized Gains (Losses) Recognized in Other Comprehensive Income** |
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30, 2025** | **June 30, 2024** | **June 30, 2025** | **June 30, 2024** |
| <u>Cash flow hedges:</u> |  |  |  |  |
| Foreign exchange forward contracts<sup>(1)</sup> | $(53.5) | $1.2 | $(73.0) | $10.5 |
| Cross-currency swaps | (0.4) | (0.1) | 4.4 | (2.2) |
| Interest rate swaps | (17.9) | (5.4) | (43.1) | 15.7 |
| <u>Net investment hedges:</u> |  |  |  |  |
| Cross-currency swaps | (62.9) | 5.8 | (86.7) | 19.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total hedges | $(134.7) | $1.5 | $(198.4) | $43.0 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)Amounts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.

The following table summarizes the locations and amounts of gains (losses) recognized within earnings related to our hedging relationships:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended June 30, 2025** | **Three Months Ended June 30, 2025** | **Three Months Ended June 30, 2025** | **Three Months Ended June 30, 2024** | **Three Months Ended June 30, 2024** | **Three Months Ended June 30, 2024** |
| | **Revenue** | **Interest Expense** | **Other Income (Expense), Net** | **Revenue** | **Interest Expense** | **Other Income (Expense), Net** |
| <u>Cash flow hedges:</u> |  |  |  |  |  |  |
| Foreign exchange forward contracts: |  |  |  |  |  |  |
| Reclassified from AOCI into income | $0.7 | $— | $— | $1.3 | $— | $— |
| Cross-currency swaps: |  |  |  |  |  |  |
| Reclassified from AOCI into income<sup>(1)</sup> |  | 2.1 | (48.7) |  | 2.5 | 4.0 |
| Interest rate swaps: |  |  |  |  |  |  |
| Reclassified from AOCI into income |  | 12.9 |  |  | 18.7 |  |
| <u>Net investment hedges:</u> |  |  |  |  |  |  |
| Cross-currency swaps: |  |  |  |  |  |  |
| Reclassified from AOCI into income |  | 2.7 |  |  | 3.2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total hedges | $0.7 | $17.7 | $(48.7) | $1.3 | $24.4 | $4.0 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)The amounts reflected in other income (expense), net include $48.3 million and $(4.1) million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during the three months ended June 30, 2025 and 2024, respectively.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** | **Six Months Ended June 30, 2024** | **Six Months Ended June 30, 2024** | **Six Months Ended June 30, 2024** |
| | **Revenue** | **Interest Expense** | **Other Income (Expense), Net** | **Revenue** | **Interest Expense** | **Other Income (Expense), Net** |
| <u>Cash flow hedges:</u> |  |  |  |  |  |  |
| Foreign exchange forward contracts: |  |  |  |  |  |  |
| Reclassified from AOCI into income | $2.0 | $— | $— | $2.9 | $— | $— |
| Cross-currency swaps: |  |  |  |  |  |  |
| Reclassified from AOCI into income<sup>(1)</sup> |  | 4.5 | (72.0) |  | 4.9 | 16.4 |
| Interest rate swaps: |  |  |  |  |  |  |
| Reclassified from AOCI into income |  | 25.7 |  |  | 36.7 |  |
| <u>Net investment hedges:</u> |  |  |  |  |  |  |
| Cross-currency swaps: |  |  |  |  |  |  |
| Reclassified from AOCI into income |  | 5.9 |  |  | 6.3 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total hedges | $2.0 | $36.1 | $(72.0) | $2.9 | $47.9 | $16.4 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)The amounts reflected in other income (expense), net include $71.6 million and $(16.5) million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during the six months ended June 30, 2025 and 2024, respectively.

As of June 30, 2025, we estimate that $70.3 million of net deferred gains related to our designated hedges will be recognized in earnings over the next 12 months. No amounts have been excluded from our hedge effectiveness testing.

**Risk Management Strategies**

There have been no material changes in the risk management strategies associated with our derivatives from those disclosed in the 2024 10-K.

**11. &nbsp;&nbsp;&nbsp;&nbsp;Leases**

Our operating leases primarily consist of office and data center space expiring at various dates through October 2034. Certain leases include options to renew or terminate at our discretion. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of June 30, 2025, operating leases have a remaining weighted-average lease term of 6.1 years and our operating lease liabilities were measured using a weighted-average discount rate of 5.3%.

The components of operating lease expense were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30, 2025** | **June 30, 2024** | **June 30, 2025** | **June 30, 2024** |
| Operating lease costs | $6.2 | $6.9 | $12.4 | $14.5 |
| Variable lease costs | 3.6 | 3.0 | 6.3 | 6.7 |
| Sublease income | (2.1) | (1.8) | (3.8) | (4.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net lease cost | $7.7 | $8.1 | $14.9 | $16.5 |

---

During the six months ended June 30, 2024, we recognized $6.0 million of expense related to the abandonment of certain operating leases, which is included within restructuring and other.

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**12.&nbsp;&nbsp;&nbsp;&nbsp;Commitments and Contingencies**

**Litigation**

From time-to-time, we are a party to litigation and subject to claims, suits, regulatory and government investigations, other proceedings and consent decrees in the ordinary course of business, including intellectual property claims, putative and certified class actions, commercial and consumer protection claims, labor and employment claims, breach of contract claims and other asserted and unasserted claims. We investigate claims as they arise and accrue estimates for resolution of legal and other contingencies when losses are probable and reasonably estimable.

There have been no material changes outside of the ordinary course of business to our known contractual obligations, which were included in Note 13 of Item 8 of our 2024 Form 10-K.

**Indirect Taxes**

We are subject to indirect taxation in some, but not all, of the various states and foreign jurisdictions in which we conduct business. Laws, rules and regulations attempting to subject communications and commerce conducted over the Internet to various indirect taxes are becoming more prevalent, both in the U.S. and internationally, and may impose additional burdens on us in the future. Increased regulation could negatively affect our business directly, as well as the businesses of our customers. Taxing authorities may impose indirect taxes on the Internet-related revenue we generate based on regulations currently being applied to similar, but not directly comparable, industries. There are many transactions and calculations where the ultimate indirect tax determination is uncertain. In addition, domestic and international indirect taxation laws are complex and subject to change. We may be audited in the future, which could result in changes to our indirect tax estimates. We continually evaluate those jurisdictions in which nexus exists, and believe we maintain adequate indirect tax accruals.

Our accrual for estimated indirect tax liabilities was $33.6 million and $31.5 million as of June 30, 2025 and December 31, 2024, respectively, reflecting our best estimate of the probable liability based on an analysis of our business activities, revenues subject to indirect taxes and applicable regulations. Although we believe our indirect tax estimates and associated liabilities are reasonable, the final determination of indirect tax audits, litigation or settlements could be materially different than the amounts established for indirect tax contingencies.

**13.&nbsp;&nbsp;&nbsp;&nbsp;Restructuring and Other Charges**

Restructuring activities during the six months ended June 30, 2025 were immaterial. We recognized $6.0 million and $17.1 million of pre-tax restructuring charges in our statement of operations related to severance, employee benefits and equity-based compensation during the three and six months ended June 30, 2024, respectively.

The following table shows the total amount incurred and the accrued restructuring costs, which are recorded in accrued expenses and other current liabilities in our balance sheet, for severance and employee benefits:

---

| | |
|:---|:---|
| | **Accrued Restructuring Costs** |
| Accrued restructuring costs as of December 31, 2024 | $0.8 |
| Restructuring costs incurred | 2.2 |
| Amount paid | (3.0) |
| Accrued restructuring costs as of June 30, 2025 | $— |
| Accrued restructuring costs as of December 31, 2023 | $7.4 |
| Restructuring costs incurred<sup>(1)</sup> | 16.7 |
| Amount paid | (17.6) |
| Accrued restructuring costs as of June 30, 2024 | $6.5 |

---

**________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)Excludes $0.8 million in equity-based compensation expense associated with our restructuring plans in 2024 which was recorded within additional paid-in capital.

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**14.&nbsp;&nbsp;&nbsp;&nbsp;Income Taxes**

Our effective tax rate for the six months ended June 30, 2025 is 8.6%, which differs from the U.S. federal statutory rate primarily due to U.S. research and development tax credits, excess tax benefits related to equity-based compensation and a one-time benefit for the recognition of an uncertain tax position of $34.6 million.

We monitor the realizability of our deferred tax assets (DTAs) considering all relevant factors at each reporting period. As of June 30, 2025, based on the relevant weight of positive and negative evidence, including our ability to forecast future operating results, historical tax losses and our ability to utilize DTAs within the requisite carryforward periods, we do not maintain a valuation allowance on the majority of our U.S. federal and state DTAs.

We maintain valuation allowances on certain U.S., state and foreign carry forwards as we concluded they are not more likely than not to be realized.

**Uncertain Tax Positions**

The total amount of gross unrecognized tax benefits was $166.7 million as of June 30, 2025, of which $108.5 million, if fully recognized, would decrease our effective tax rate. Although we believe the amounts reflected in our tax returns substantially comply with applicable U.S. federal, state and foreign tax regulations, the respective taxing authorities may take contrary positions based on their interpretation of the law. A tax position successfully challenged by a taxing authority could result in an adjustment to our provision or benefit for income taxes in the period in which a final determination is made.

During the six months ended June 30, 2025, we recognized a $34.6 million income tax benefit related to the recognition of an uncertain tax position in a foreign jurisdiction as a result of a favorable tax court ruling.

**15.&nbsp;&nbsp;&nbsp;&nbsp;Income Per Share**

Basic income per share is computed by dividing net income attributable to GoDaddy Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted income per share is computed giving effect to all potentially dilutive shares unless their effect is antidilutive.

A reconciliation of the numerator and denominator used in the calculation of basic and diluted income per share is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Numerator: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $199.9 | $146.3 | $419.4 | $547.8 |
| Denominator: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-average shares of Class A common stock outstanding—basic | 138734 | 141269 | 140200 | 141899 |
| &nbsp;&nbsp;&nbsp;&nbsp;Effect of dilutive securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock options | 373 | 448 | 391 | 449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RSUs, PSUs and ESPPs shares | 2301 | 2927 | 2796 | 2973 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-average shares of Class A Common stock outstanding—diluted | 141408 | 144644 | 143387 | 145321 |
| Net income per share of Class A common stock—basic | $1.44 | $1.04 | $2.99 | $3.86 |
| Net income per share of Class A common stock—diluted | $1.41 | $1.01 | $2.92 | $3.77 |

---

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The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted income per share because the effect of including such potentially dilutive shares would have been antidilutive:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| RSUs, PSUs and ESPPs shares | 102 | 443 | 69 | 292 |

---

During the three months ended June 30, 2024, we entered into ASRs to repurchase shares of our Class A common stock in exchange for an upfront payment of $245.0 million. No shares were initially received in connection with these ASRs. For purposes of computing earnings per share, the share repurchases, which settled in the third quarter of 2024, were reflected as a reduction to weighted-average shares of Class A common stock outstanding on the respective delivery dates.

**16. &nbsp;&nbsp;&nbsp;&nbsp;Segment Information**

We report our operating results through two reportable segments: A&C and Core.

Our chief operating decision maker (CODM), which, as of June 30, 2025, was our Chief Executive Officer, evaluates the performance of and allocates resources to our segments based on each segment's revenue and earnings before interest, taxes, depreciation and amortization (Segment EBITDA). Segment EBITDA is evaluated on a monthly basis by the CODM by monitoring actual results versus the annual plan. This comparison is performed to make strategic decisions regarding segment profitability, resource allocation, pricing strategies and cost optimization. Segment EBITDA is defined as segment revenues less costs and operating expenses, excluding depreciation and amortization, interest expense (net), provision or benefit for income taxes, equity-based compensation expense, acquisition-related costs, restructuring-related expenses and certain other items. We believe Segment EBITDA serves as a measure that assists our CODM and our investors in comparing our segments' performance on a consistent basis.

Our CODM does not use assets by segment to evaluate performance or allocate resources; therefore, we do not provide disclosure of assets by segment. See Note 2 for property, plant, and equipment, net as well as revenue disaggregated by geography.

The A&C and Core segments provide a view into the product-focused organization of our business and generate revenue as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A&C primarily consists of sales of products containing proprietary software, notably our website building products, as well as our commerce products and third-party email and productivity solutions and sales of certain products when they are included in bundled offerings of our proprietary software products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Core primarily consists of sales of domain registrations and renewals, aftermarket domain sales, website hosting products and website security products when not included in bundled offerings of our proprietary software products as well as sales of products not containing a software component.

There are no internal revenue transactions between our reportable segments.

Corporate overhead primarily includes general and administrative expenses and items not allocated to either segment as well as those costs specifically excluded from Segment EBITDA, our segment measure of profitability, such as depreciation and amortization, interest expense and income and provision or benefit for income taxes.

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The following table presents our segment information for the periods indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| **A&C** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Revenue | $463.9 | $405.6 | $910.3 | $788.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items<sup>(1)</sup> | (258.1) | (229.0) | (507.6) | (450.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Segment EBITDA | 205.8 | 176.6 | 402.7 | 338.5 |
| **Core** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Revenue | 753.7 | 718.9 | 1501.6 | 1444.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items<sup>(2)</sup> | (507.6) | (499.4) | (1020.2) | (1008.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Segment EBITDA | 246.1 | 219.5 | 481.4 | 436.2 |
| Total revenue | 1217.6 | 1124.5 | 2411.9 | 2233.0 |
| Total other segment items | (765.7) | (728.4) | (1527.8) | (1458.3) |
| Total Segment EBITDA | 451.9 | 396.1 | 884.1 | 774.7 |
| Unallocated corporate overhead | (70.2) | (64.4) | (138.0) | (130.0) |
| Depreciation and amortization | (30.6) | (33.1) | (61.4) | (70.3) |
| Equity-based compensation expense<sup>(3)</sup> | (81.0) | (76.2) | (161.4) | (147.2) |
| Interest expense, net of interest income | (29.5) | (34.5) | (57.1) | (69.2) |
| Restructuring and other<sup>(4)</sup> | (1.5) | (13.0) | (7.1) | (39.9) |
| Income before income taxes | 239.1 | 174.9 | 459.1 | 318.1 |
| Benefit (provision) for income taxes | (39.2) | (28.6) | (39.7) | 229.7 |
| Net income | $199.9 | $146.3 | $419.4 | $547.8 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)Other segment items in A&C are primarily composed of product license fees used in our third-party email and productivity solutions, payment processing fees, personnel costs excluding equity-based compensation, data center and systems infrastructure costs excluding depreciation, customer care and marketing costs. The CODM uses consolidated expense information to manage operations and is not regularly provided disaggregated other segment items.

&nbsp;&nbsp;&nbsp;&nbsp;(2)Other segment items in Core are primarily composed of domain registration fees, payment processing fees, costs associated with sales of aftermarket domains, hosting and security license fees, personnel costs excluding equity-based compensation, data center and systems infrastructure costs excluding depreciation, customer care and marketing costs. The CODM uses consolidated expense information to manage operations and is not regularly provided disaggregated other segment items.

&nbsp;&nbsp;&nbsp;&nbsp;(3)The six months ended June 30, 2024 exclude $0.8 million of equity-based compensation expense associated with our restructuring activities which is included within restructuring and other.

&nbsp;&nbsp;&nbsp;&nbsp;(4)In addition to restructuring and other in our statements of operations, other charges included are primarily composed of lease-related expenses associated with closed facilities, charges related to certain legal matters, expenses incurred in relation to the refinancing of our long-term debt and incremental expenses associated with certain professional services.

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**17.&nbsp;&nbsp;&nbsp;&nbsp;Accumulated Other Comprehensive Income (Loss)**

The following table presents AOCI activity in equity:

---

| | | | |
|:---|:---|:---|:---|
| | **Foreign Currency Translation Adjustments** | **Net Unrealized Gains (Losses) on Cash Flow Hedges**<sup>(1)</sup> | **Total AOCI** |
| Balance as of December 31, 2024 | $(67.7) | $200.2 | $132.5 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income (loss) before reclassifications | (31.1) | (31.8) | (62.9) |
| &nbsp;&nbsp;&nbsp;Amounts reclassified from AOCI |  | (33.9) | (33.9) |
| &nbsp;&nbsp;&nbsp;Other comprehensive income (loss) | (31.1) | (65.7) | (96.8) |
| Balance as of June 30, 2025 | $(98.8) | $134.5 | $35.7 |
| Balance as of December 31, 2023 | $(83.6) | $195.0 | $111.4 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income (loss) before reclassifications | 10.1 | (52.9) | (42.8) |
| &nbsp;&nbsp;&nbsp;Amounts reclassified from AOCI |  | 67.2 | 67.2 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income (loss) | 10.1 | 14.3 | 24.4 |
| Balance as of June 30, 2024 | $(73.5) | $209.3 | $135.8 |

---

**________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)Amounts shown for our foreign exchange forward contracts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI. See Note 10 for the effect on net income of amounts reclassified from AOCI related to our hedging relationships.

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**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations**

*The following discussion and analysis of our financial condition and results of operations should be read together with our financial statements and related notes included in this Quarterly Report as well as our audited financial statements and related notes and the discussions and analysis in the section titled "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" of our 2024 Form 10-K. Some of the information contained in this discussion and analysis, including information with respect to our plans and strategies for our business, includes forward-looking statements involving significant risks and uncertainties. As a result of many factors, such as those set forth in "Risk Factors," actual results may differ materially from the results described in, or implied by, these forward-looking statements.*

*(Throughout the tables and this discussion and analysis, dollars are in millions, excluding average revenue per user (ARPU), and shares are in thousands.)*

**Overview**

We serve a large market of entrepreneurs through the development and delivery of easy-to-use products in a one stop shop solution alongside personalized guidance. We serve small businesses, individuals, organizations, developers, designers and domain investors. We manage and report our business in the following two segments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Applications and Commerce (A&C)**, which primarily consists of sales of products containing proprietary software, notably our website building products, as well as our proprietary commerce solutions and third-party email and productivity solutions and sales of certain products when they are included in bundled offerings of our proprietary software products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Core Platform (Core)**, which primarily consists of sales of domain registrations and renewals, aftermarket domain sales, domain protection, website hosting products and website security products when not included in bundled offerings of our proprietary software products as well as sales of products not containing a software component.

**Consolidated Second Quarter Financial Highlights**

Below are our key consolidated financial highlights for the three months ended June 30, 2025, with comparisons to the three months ended June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total revenue of $1,217.6 million, an increase of 8.3%, or approximately 8.4% on a constant currency basis<sup>(1)</sup>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• International revenue of $395.9 million, an increase of 10.9%, or approximately 11.3% on a constant currency basis<sup>(1)</sup>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total bookings of $1,345.3 million, an increase of 6.6%, or approximately 6.7% on a constant currency basis<sup>(1)</sup>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Operating income of $266.3 million, an increase of 27.9%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income of $199.9 million, an increase of 36.6%<sup>(2)</sup>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Normalized EBITDA<sup>(3)</sup> of $381.7 million, an increase of 15.1%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net cash provided by operating activities of $379.9 million, an increase of 28.9%.

<sup>(1)</sup> *Discussion of constant currency is set forth in "Quantitative and Qualitative Disclosures about Market Risk."*

<sup>(2)</sup> *Net income for the three months ended June 30, 2025 included a one-time benefit for the recognition of an uncertain tax position of $34.6 million.* 

<sup>(3)</sup> *A reconciliation of Normalized EBITDA to net income, its most directly comparable GAAP financial measure, is set forth in "Reconciliation of NEBITDA" below.*

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**Consolidated Results of Operations**

The following table sets forth our consolidated results of operations for the periods presented and as a percentage of our total revenue for those periods. The period-to-period comparison of financial results is not necessarily indicative of future results.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | $**% of Total Revenue** | $**% of Total Revenue** | $**% of Total Revenue** | $**% of Total Revenue** |
| Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applications and commerce | 38.1% | 36.1% | 37.7% | 35.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core platform | 61.9% | 63.9% | 62.3% | 64.7% |
| Total revenue | 100.0% | 100.0% | 100.0% | 100.0% |
| Costs and operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of revenue (excluding depreciation and amortization) | 36.3% | 36.3% | 36.6% | 36.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology and development | 17.6% | 18.3% | 17.4% | 18.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and advertising | 7.7% | 8.3% | 8.0% | 8.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer care | 6.0% | 6.5% | 6.0% | 6.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 8.0% | 8.5% | 8.0% | 8.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring and other | —% | 0.7% | 0.2% | 1.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 2.5% | 2.9% | 2.5% | 3.1% |
| Total costs and operating expenses | 78.1% | 81.5% | 78.7% | 82.8% |
| Operating income | 21.9% | 18.5% | 21.3% | 17.2% |
| Interest expense | (3.1)% | (3.5)% | (3.1)% | (3.6)% |
| Loss on debt extinguishment | —% | (0.2)% | —% | (0.1)% |
| Other income (expense), net | 0.8% | 0.8% | 0.8% | 0.8% |
| Income before income taxes | 19.6% | 15.6% | 19.0% | 14.3% |
| Benefit (provision) for income taxes | (3.2)% | (2.6)% | (1.6)% | 10.2% |
| Net income | 16.4% | 13.0% | 17.4% | 24.5% |

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***Non-GAAP Financial Measures, Operating Metrics and Business Metrics***

In addition to our results determined in accordance with GAAP, we believe that the following non-GAAP financial measures, operating metrics and business metrics may be useful as supplements in evaluating our ongoing operational performance:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** <br>**June 30,** | **Three Months Ended** <br>**June 30,** | **Six Months Ended** <br>**June 30,** | **Six Months Ended** <br>**June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Normalized EBITDA | $381.7 | $331.7 | $746.1 | $644.7 |
| Annualized recurring revenue | $4181.0 | $3853.4 | $4181.0 | $3853.4 |
| Total bookings | $1345.3 | $1261.9 | $2762.3 | $2574.5 |
| Total customers at period end (in thousands) | 20409 | 20866 | 20409 | 20866 |
| ARPU | $230 | $210 | $230 | $210 |
| Domains under management (in thousands) | 80413 | 82056 | 80413 | 82056 |

---

*Normalized EBITDA (NEBITDA).* NEBITDA is a supplemental measure of our operating performance used by management to evaluate our business. We calculate NEBITDA as net income excluding depreciation and amortization, interest expense (net), provision or benefit for income taxes, equity-based compensation expense, acquisition-related costs, restructuring-related expenses and certain other items. We believe that the inclusion or exclusion of certain recurring and non-recurring items provides a supplementary measure of our core operating results and permits useful alternative period-over-period comparisons of our operations. NEBITDA should not be viewed as a substitute for comparable GAAP measures.

*Annualized recurring revenue (ARR).* ARR is an operating metric defined as annualized quarterly recurring GAAP revenue, net of refunds, from new and renewed subscription-based services. ARR is exclusive of any revenue that is non-recurring, including, without limitation, domain aftermarket, domain transfers, one-time set-up or migration fees and non-recurring professional website services fees. We believe ARR helps illustrate the scale of certain of our products and facilitates comparisons to other companies in our industry.

*Total bookings.* Total bookings is an operating metric representing the total value of customer contracts entered into during the period, excluding refunds. We believe total bookings provides additional insight into the performance of our business and the effectiveness of our marketing efforts since we typically collect payment at the inception of a customer contract but recognize revenue ratably over the term of the contract.

*Total customers.* We define a customer as an individual or entity, each with a unique account and paid transactions in the trailing twelve months or with paid subscriptions as of the end of the period. Total customers is one way we measure the scale of our business and can be a contributing factor to our ability to increase our revenue base.

*Average revenue per user (ARPU).* We calculate ARPU as total revenue during the preceding 12 month period divided by the average of the number of total customers at the beginning and end of the period. ARPU is one measure that provides insight into our ability to sell additional products to our customers.

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***Reconciliation of NEBITDA***

The following table reconciles NEBITDA to net income, its most directly comparable GAAP financial measure:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Net income | $199.9 | $146.3 | $419.4 | $547.8 |
| Depreciation and amortization | 30.6 | 33.1 | 61.4 | 70.3 |
| Equity-based compensation expense<sup>(1)</sup> | 81.0 | 76.2 | 161.4 | 147.2 |
| Interest expense, net of interest income | 29.5 | 34.5 | 57.1 | 69.2 |
| Restructuring and other<sup>(2)</sup> | 1.5 | 13.0 | 7.1 | 39.9 |
| Provision (benefit) for income taxes | 39.2 | 28.6 | 39.7 | (229.7) |
| NEBITDA | $381.7 | $331.7 | $746.1 | $644.7 |

---

**_________________________________**

&nbsp;&nbsp;&nbsp;&nbsp;(1)The six months ended June 30, 2024 excludes $0.8 million of equity-based compensation expense associated with our restructuring activities, which is included within restructuring and other.

&nbsp;&nbsp;&nbsp;&nbsp;(2)In addition to the restructuring and other in our statements of operations, other charges are primarily composed of lease-related expenses associated with closed facilities, charges related to certain legal matters, expenses incurred in relation to the refinancing of our long-term debt and incremental expenses associated with certain professional services.

***Constant Currency***

The following table provides a reconciliation of constant currency:

---

| | |
|:---|:---|
| | **Three Months Ended June 30, 2025** |
| Revenue | $1217.6 |
| Constant currency adjustment | 1.6 |
| Constant currency revenue | $1219.2 |

---

***Revenue***

We generate the majority of our revenue from sales of product subscriptions, as described in our 2024 Form 10-K. Our subscriptions can range from monthly terms to multi-annual terms of up to ten years, depending on the product. Revenue is presented net of refunds, and we maintain a reserve to provide for refunds granted to customers.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Applications and commerce | $463.9 | $405.6 | 14.4% | $910.3 | $788.7 | 15.4% |
| Core platform | 753.7 | 718.9 | 4.8% | 1501.6 | 1444.3 | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $1217.6 | $1124.5 | 8.3% | $2411.9 | $2233.0 | 8.0% |

---

Total revenue increased 8.3% and 8.0% for the three and six months ended, respectively, due to the increases in our A&C and Core revenues, as described below:

*A&C*

A&C revenue grew $58.3 million, or 14.4%, for the three months ended June 30, 2025 and $121.6 million, or 15.4%, for the six months ended June 30, 2025 due to continued customer adoption of our subscription-based products.

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*Core*

Core revenue grew $34.8 million, or 4.8%, for the three months ended June 30, 2025 driven by $29.7 million growth in domain registration and add-on revenues and $7.3 million growth in aftermarket revenue.

Core revenue grew $57.3 million, or 4.0%, for the six months ended June 30, 2025 driven by $53.7 million growth in domain registration and add-on revenues and $13.2 million growth in aftermarket revenue. This increase was partially offset by a shift in sales mix as well as a $5.6 million decrease in hosting revenues related to end of life migrations away from certain products and the disposition of certain hosting assets in 2024.

***Bookings***

The following table presents our total bookings for the periods indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Total bookings | $1345.3 | $1261.9 | 6.6% | $2762.3 | $2574.5 | 7.3% |

---

The $83.4 million, or 6.6%, increase in total bookings for the three months ended June 30, 2025 and the $187.8 million, or 7.3%, increase in total bookings for the six months ended June 30, 2025 were driven by strength in domains and aftermarket and continued customer adoption of our subscription-based A&C products. For the six months ended June 30, 2025, the increase was partially offset by a $10.6 million impact from changes in foreign currency exchange rates net of hedging gains from our cash flow hedging program.

Following a competitive rebid in the second quarter of 2025, we will no longer operate as the registry service provider for the .CO top-level domain. We anticipate that this transition will begin in the fourth quarter of 2025. We do not expect this transition to have a material impact to our financial results. We will continue to offer .CO to customers in our capacity as an accredited registrar.

***Costs and Operating Expenses***

*Cost of revenue*

Cost of revenue primarily represents the direct costs incurred in connection with selling an incremental product to our customers. Such costs primarily relate to domain registration fees, payment processing fees, third-party commissions and licensing fees for third-party productivity applications. Similar to our billing practices, we pay domain costs at the time of purchase for the life of each subscription but recognize the costs of service ratably over the term of our customer contracts. The terms for domain costs are established by agreements between registries and registrars and can vary significantly depending on the top-level domain (TLD). We expect cost of revenue to increase in absolute dollars in future periods due to increased sales of domains and third-party productivity applications. However, cost of revenue may fluctuate as a percentage of total revenue, depending on the mix of products sold in a particular period.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Cost of revenue (excluding depreciation and amortization) | $442.3 | $408.3 | 8.3% | $882.8 | $822.8 | 7.3% |

---

The $34.0 million, or 8.3%, increase in cost of revenue for the three months ended June 30, 2025 and the $60.0 million, or 7.3%, increase in cost of revenue for the six months ended June 30, 2025 were driven by the increases in revenue described above.

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*Technology and development*

Technology and development expenses represent the costs associated with the creation, development and distribution of our products and websites. These expenses primarily consist of personnel costs associated with the design, development, deployment, testing, operation and enhancement of our products, as well as costs associated with the operation of our data centers and systems infrastructure supporting those products, excluding depreciation expense. We expect technology and development expenses to decrease as a percentage of revenue in future periods following a period of investment in product development and migration toward a unified infrastructure platform.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Technology and development | $214.3 | $205.9 | 4.1% | $419.6 | $408.8 | 2.6% |

---

The $8.4 million, or 4.1%, increase in technology and development expenses for the three months ended June 30, 2025 and the $10.8 million, or 2.6%, increase in technology and development expenses for the six months ended June 30, 2025, were attributable to a $6.8 million and $9.1 million increase, respectively, in personnel costs driven by higher average headcount associated with our continued investment in product development.

*Marketing and advertising*

Marketing and advertising expenses represent the costs associated with attracting and acquiring customers, primarily consisting of fees paid to third parties for marketing and advertising campaigns across a variety of channels. These expenses also include personnel costs and affiliate program commissions. We expect marketing and advertising expenses to fluctuate depending on both the mix of internal and external marketing resources used, the size and scope of our future campaigns and the level of discretionary investments we make in marketing to drive future sales.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Marketing and advertising | $93.4 | $93.2 | 0.2% | $193.5 | $180.7 | 7.1% |

---

There was no material change in marketing expenses for the three months ended June 30, 2025.

The $12.8 million, or 7.1%, increase in marketing and advertising expenses for the six months ended June 30, 2025 was attributable to an increase in discretionary advertising spend in support of our strategic initiatives, including broader awareness of our GoDaddy Airo experience.

*Customer care*

Customer care expenses represent the costs to guide and service our customers, primarily consisting of personnel costs. We expect customer care expenses to fluctuate depending on the methods of customer interaction utilized as well as the level of personnel required to support our business.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Customer care | $73.5 | $73.3 | 0.3% | $144.6 | $149.7 | (3.4)% |

---

There was no material change in customer care expenses for the three and six months ended June 30, 2025.

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*General and administrative*

General and administrative expenses primarily consist of personnel costs for our administrative functions, professional service fees, office rent for all locations, acquisition-related expenses and other general costs. We expect general and administrative expenses to fluctuate depending on the level of personnel and other administrative costs required to support our business as well as the significance of any strategic acquisitions we choose to pursue.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| General and administrative | $96.9 | $95.6 | 1.4% | $194.0 | $187.3 | 3.6% |

---

There was no material change in general and administrative expenses for the three and six months ended June 30, 2025.

*Restructuring and other*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Restructuring and other | $0.3 | $6.9 | (95.7)% | $2.4 | $29.3 | (91.8)% |

---

There was no material change in restructuring and other for the three months ended June 30, 2025.

Restructuring and other was $2.4 million for the six months ended June 30, 2025, which related to severance and employee benefits incurred pursuant to restructuring activities. Restructuring and other was $29.3 million for the six months ended June 30, 2024, which includes $17.5 million of costs incurred pursuant to restructuring activities and $6.0 million of expense related to the abandonment of certain operating leases.

*Depreciation and amortization*

Depreciation and amortization expenses consist of charges relating to the depreciation of the property and equipment used in our operations and the amortization of acquired intangible assets. These expenses may increase or decrease in absolute dollars in future periods depending on our future level of capital investments in hardware and other equipment as well as the significance of any future acquisitions.

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|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Depreciation and amortization | $30.6 | $33.1 | (7.6)% | $61.4 | $70.3 | (12.7)% |

---

There was no material change in depreciation and amortization expenses for the three months ended June 30, 2025.

The $8.9 million, or 12.7%, decrease in depreciation and amortization expense for the six months ended June 30, 2025 was attributable to fully depreciated assets and accelerated depreciation related to office closures during the three months ended June 30, 2024.

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*Interest expense*

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Interest expense | $38.3 | $39.5 | (3.0)% | $75.5 | $80.8 | (6.6)% |

---

There was no material change in interest expense for the three and six months ended June 30, 2025.

*Other income (expense), net*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%** | **2025** | **2024** | $**%** |
| Other income (expense), net | $11.1 | $8.3 | 33.7% | $21.0 | $17.9 | 17.3% |

---

There was no material change in other income (expense), net for the three and six months ended June 30, 2025.

**Segment Results of Operations**

Our two operating segments, A&C and Core, reflect the way we manage and evaluate the performance of our business. Our chief operating decision maker evaluates segment performance based upon several factors, of which the primary financial measures are revenue and Segment EBITDA, our segment measure of profitability. See Note 16 to our financial statements for a reconciliation of Segment EBITDA to net income, its most directly comparable GAAP financial measure.

***Applications and Commerce***

The following table presents the results for our A&C segment for the periods indicated:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%/bps** | **2025** | **2024** | $**%/bps** |
| &nbsp;&nbsp;&nbsp;&nbsp;Revenue | $463.9 | $405.6 | 14.4% | $910.3 | $788.7 | 15.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Segment EBITDA | $205.8 | $176.6 | 16.5% | $402.7 | $338.5 | 19.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Segment EBITDA Margin | 44.4% | 43.5% | 90 bps | 44.2% | 42.9% | 130 bps |

---

The $29.2 million, or 16.5%, increase in A&C Segment EBITDA for the three months ended June 30, 2025 was attributed to a $58.3 million increase in revenue as described above. This increase was partially offset by a $29.1 million increase in other segment items driven by higher cost of revenue attributable to the increase in revenue as well as higher operating expenses (excluding acquisition-related costs, equity-based compensation expense and depreciation and amortization expense) attributable to higher technology and development costs.

The $64.2 million, or 19.0%, increase in A&C Segment EBITDA for the six months ended June 30, 2025 was attributed to a $121.6 million increase in revenue as described above. This increase was partially offset by a $57.4 million increase in other segment items driven by higher cost of revenue attributable to an increase in revenue as well as operating expenses (excluding acquisition-related costs, equity-based compensation expense and depreciation and amortization expense) attributable to higher marketing costs and higher technology and development costs.

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***Core Platform***

The following table presents the results for our Core segment for the periods indicated:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Change** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Change** |
| | **2025** | **2024** | $**%/bps** | **2025** | **2024** | $**%/bps** |
| &nbsp;&nbsp;&nbsp;&nbsp;Revenue | $753.7 | $718.9 | 4.8% | $1501.6 | $1444.3 | 4.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Segment EBITDA | $246.1 | $219.5 | 12.1% | $481.4 | $436.2 | 10.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Segment EBITDA Margin | 32.7% | 30.5% | 220 bps | 32.1% | 30.2% | 190 bps |

---

The $26.6 million, or 12.1%, increase in Core Segment EBITDA for the three months ended June 30, 2025 was attributed to a $34.8 million increase in revenue as described above. This increase was partially offset by a $8.2 million increase in other segment items driven by an increase in cost of revenue (excluding acquisition-related costs, equity-based compensation expense and depreciation and amortization expense) partially offset by lower operating expenses.

The $45.2 million, or 10.4%, increase in Core Segment EBITDA for the six months ended June 30, 2025 was attributed to a $57.3 million increase in revenue as described above. This increase was partially offset by a $12.1 million increase in other segment items driven by an increase in cost of revenue and marketing costs (excluding acquisition-related costs, equity-based compensation expense and depreciation and amortization expense) partially offset by lower care and technology and development costs.

**Liquidity and Capital Resources**

***Overview***

Our principal sources of liquidity have been cash flow generated from operations and long-term debt borrowings. Our principal uses of cash have been to fund operations and capital expenditures, to make mandatory principal and interest payments on our long-term debt and to effectuate our share repurchase programs. Our liquidity position also benefits from U.S. and state DTAs such that we have not historically paid a significant amount of U.S. federal or state income taxes.

In general, we seek to deploy our capital by focusing on requirements for our operations, on growth investments and on stockholder returns. Our strategy is to deploy capital, whether debt, equity or internally generated cash, depending on the adequacy and availability of the source of capital and which source may be used most efficiently and at the lowest cost at such time. Therefore, while cash from operations is our primary source of operating liquidity and we believe our internally generated cash flows are sufficient to support our day-to-day operations, we may use a variety of capital sources to fund our needs for less predictable investment decisions such as strategic acquisitions and share repurchases.

We believe our existing cash and cash equivalents and cash generated by operating activities will be sufficient to meet our anticipated operating cash needs for at least the next 12 months. However, our future capital requirements will depend on many factors, including our growth rate, macroeconomic activity, the timing and extent of spending to support domestic and international development efforts, continued brand development and advertising spend, the level of customer care and general and administrative activities, the introduction of new and enhanced product offerings, the costs to support new and replacement capital equipment, the completion of strategic acquisitions or share repurchases. Should we pursue additional strategic acquisitions or share repurchases, we may need to raise additional capital, which may be in the form of long-term debt or equity financings.

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**Cash Flows**

The following table summarizes our cash flows for the periods indicated:

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| | | |
|:---|:---|:---|
| | **Six Months Ended** <br>**June 30,** | **Six Months Ended** <br>**June 30,** |
| | **2025** | **2024** |
| Net cash provided by operating activities | $784.6 | $592.0 |
| Net cash provided by (used in) investing activities | (10.0) | 40.9 |
| Net cash used in financing activities | (781.7) | (646.2) |
| Effect of exchange rate changes on cash and cash equivalents | 4.8 | (0.6) |
| Net increase (decrease) in cash and cash equivalents | $(2.3) | $(13.9) |

---

***Operating Activities***

Our primary source of cash from operating activities has been cash collections from our customers. Our primary uses of cash from operating activities have been for domain registration costs paid to registries, software licensing fees related to third-party productivity solutions, personnel costs, discretionary marketing and advertising costs, technology and development costs and interest payments. We expect cash outflows from operating activities to be affected by the timing of payments we make to registries and other operating costs as we continue to grow our business.

Net cash provided by operating activities increased $192.6 million from $592.0 million during the six months ended June 30, 2024 to $784.6 million during the six months ended June 30, 2025, driven by the growth in total bookings. Bookings growth was due to strong adoption across our A&C product suite, as well as continued strength in domains and aftermarket performance. The increase was also driven by lower restructuring related payments.

***Investing Activities***

Our investing activities generally consist of strategic acquisitions, dispositions and purchases of property and equipment to support the overall growth of our business. We expect our investing cash flows to be affected by the timing of payments we make for capital expenditures, strategic acquisitions or other growth opportunities we decide to pursue.

Net cash provided by investing activities decreased $50.9 million from $40.9 million net cash provided during the six months ended June 30, 2024 to $10.0 million net cash used during the six months ended June 30, 2025, due to maturities of short-term investments totaling $40.0 million as well as proceeds from dispositions of certain assets and liabilities of our hosting business in the six months ended June 30, 2024.

***Financing Activities***

Our financing activities generally consist of long-term debt borrowings, the repayment of principal on long-term debt, stock option exercises, ESPPs proceeds and share repurchases.

Net cash used in financing activities increased $135.5 million from $646.2 million during the six months ended June 30, 2024 to $781.7 million during the six months ended June 30, 2025, primarily due to a $143.3 million increase in share repurchases.

**Deferred Revenue**

See Note 7 to our financial statements for details regarding the expected future recognition of deferred revenue.

**Off-Balance Sheet Arrangements**

There have been no material changes in our off-balance sheet arrangements as discussed in our 2024 Form 10-K.

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**Material Cash Requirements and Uses of Cash**

***Credit Facility and Senior Notes***

Our long-term debt consists of the Credit Facility, which includes two tranches of term loans and a revolving credit facility, and the Senior Notes. See Note 9 to our financial statements for additional information regarding our long-term debt.

Our long-term debt agreements contain covenants restricting, among other things, our ability, or the ability of our subsidiaries, to incur indebtedness, issue certain types of equity, incur liens, enter into fundamental changes including mergers and consolidations, sell assets, make restricted payments including dividends, distributions and investments, prepay junior indebtedness and engage in operations other than in connection with acting as a holding company, subject to customary exceptions. As of June 30, 2025, we were in compliance with all such covenants and had $994.7 million available for borrowing under the Revolver.

As discussed in Note 10 to our financial statements, we have hedged a portion of our long-term debt through the use of cross-currency and interest rate swap derivative instruments. These instruments help us manage and mitigate our risk of exposure to changes in foreign currency exchange rates and interest rates. See "Quantitative and Qualitative Disclosures About Market Risk" for additional discussion of our hedging activities.

***Share Repurchases***

As discussed in Note 4 to our financial statements, the board previously authorized the repurchase of up to $4,000 million of our Class A common stock. During the three months ended March 31, 2025, we executed two ASRs totaling $767.4 million in upfront payments, fully utilizing the amount remaining under this board authorization. These ASRs were fully settled in April 2025 with the delivery of approximately 4.4 million shares at a weighted average price of $176.02 per share. Upon completion of the ASRs, no amount was remaining for repurchases under this board authorization.

Following the execution of the share repurchase authorization described above, in April 2025, the board approved the repurchase of up to an additional $3,000 million of our Class A common stock through the end of 2027 as further discussed in Note 4 to the financial statements. During the six months ended June 30, 2025, we repurchased a total of approximately 0.2 million shares of our Class A common stock in the open market for an aggregate purchase price of $27.0 million. As of June 30, 2025, we had $2,973.0 million of remaining authorization available for repurchases.

**Critical Accounting Policies and Estimates**

We prepare our financial statements in accordance with GAAP, and in doing so, we make estimates, assumptions and judgments affecting the reported amounts of assets, liabilities, revenues and expenses, as well as the related disclosure of contingent assets and liabilities. We base our estimates, assumptions and judgments on historical experience and on various other factors we believe to be reasonable under the circumstances, and we evaluate these estimates, assumptions and judgments on an ongoing basis. Different assumptions and judgments could change the estimates used in the preparation of our financial statements, which, in turn, could change our results from those reported. We refer to estimates, assumptions and judgments of this type as our critical accounting policies and estimates, which we discussed in our 2024 Form 10-K. We review our critical accounting policies and estimates with the audit and risk committee of our board of directors on an annual basis.

There have been no material changes in our critical accounting policies from those disclosed in our 2024 Form 10-K.

**Recent Accounting Pronouncements**

For information regarding recent accounting pronouncements, see Note 2 to our financial statements.

**Tax Reform**

On July 4, 2025, H.R. 1 (One Big Beautiful Bill Act or the Act) was enacted in the U.S. The Act includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The tax effects of the

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change in the law are not included in our operating results for the period ended June 30, 2025, as the Act was enacted after the balance sheet date. We are currently assessing its impact on our consolidated financial statements.

**Item 3. Quantitative and Qualitative Disclosures About Market Risk**

We are exposed to market risk in the ordinary course of business. Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. Our market risk exposure is primarily a result of fluctuations in foreign currency exchange rates and variable interest rates. Consequently, we may employ policies and procedures to mitigate such risks, including the use of derivative financial instruments, which are discussed in more detail in Note 10 to our financial statements. We do not enter into derivative transactions for speculative or trading purposes.

As a result of the use of derivative instruments, we are exposed to the risk that counterparties to our contracts may fail to meet their contractual obligations. To mitigate such counterparty credit risk, we enter into contracts only with carefully selected financial institutions based upon ongoing evaluations of their creditworthiness. As a result, we do not believe we are exposed to any undue concentration of counterparty risk with respect to our derivative contracts as of June 30, 2025.

***Foreign Currency Risk***

We manage our exposure to changes in foreign currency exchange rates through the use of foreign exchange forward contracts and cross-currency swap contracts. The effect of a hypothetical 10% change in foreign currency exchange rates applicable to our business would not have had a material impact on our cash and cash equivalents.

*Foreign Exchange Forward Contracts*

A portion of our bookings, revenue and operating expenses is denominated in foreign currencies, which are subject to exchange rate fluctuations. Our most significant foreign currency exposures are the British pound, the Canadian dollar and the Euro. Our reported bookings, revenues and operating results may be impacted by fluctuations in foreign currency exchange rates. Fluctuations in exchange rates may also cause us to recognize transaction gains and losses in our statements of operations; such amounts were not material during the current period. As we continue to maintain a strong international presence, our exposure to fluctuations in exchange rates will increase, which may increase the costs associated with this growth. During the three months ended June 30, 2025, total revenue growth in constant currency would have been 10 basis points higher and total bookings growth in constant currency would have been 10 basis points higher. Constant currency is calculated by translating bookings and revenue for each month in the current period using the foreign currency exchange rates for the corresponding month in the prior period, excluding any hedging gains or losses realized during the period. We believe constant currency information is useful in analyzing underlying trends in our business by eliminating the impact of fluctuations in foreign currency exchange rates and allows for period-to-period comparisons of our performance.

From time-to-time, we may utilize foreign exchange forward contracts to manage the volatility of our bookings and revenue related to foreign currency transactions. These forward contracts reduce, but do not eliminate, the impact of adverse currency exchange rate fluctuations. We generally designate these forward contracts as cash flow hedges for accounting purposes. Changes in the intrinsic value of designated hedges are recorded as a component of accumulated other comprehensive income (loss) (AOCI). Gains and losses, once realized, are recorded as a component of AOCI and are amortized to revenue over the same period in which the underlying hedged amounts are recognized. As of June 30, 2025, the realized gain and unrealized loss included in AOCI were $1.1 million and $38.9 million, respectively.

*Cross-Currency Swaps*

In order to manage variability due to movements in foreign currency exchange rates related to a Euro-denominated intercompany loan, we entered into five-year cross-currency swaps in April 2017. In March 2022, we entered into a transaction to extend the maturity of these swaps to August 31, 2027, as described in Note 10 to our financial statements. The cross-currency swaps had an aggregate amortizing notional amount of €1,140.7 million at June 30, 2025 (approximately $1,344.7 million).

The swaps designated as cash flow hedging relationships convert the Euro-denominated interest and principal receipts on the intercompany loan into fixed U.S. dollar interest and principal receipts, thereby reducing our exposure to fluctuations between the Euro and U.S. dollar. Changes to the fair value of the cross-currency swaps due to changes in the value of the U.S. dollar relative to the Euro would be largely offset by the net change in the fair values of the underlying hedged items.

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The swaps designated as net investment hedging relationships hedge the foreign currency exposure of our net investment in certain Euro denominated functional currency subsidiaries. At maturity, the Euro notional value will be exchanged for the U.S. dollar notional value.

***Interest Rate Risk***

Interest rate risk reflects our exposure to movements in interest rates associated with our variable-rate debt. See Note 9 to our financial statements for additional information regarding our long-term debt. We manage our exposure to changes in interest payments related to the portion of variable-rate debt through the use of interest rate swaps, all of which are designated as cash flow hedges. For the balance of our long-term debt which is not subject to interest rate swaps, the effect of a hypothetical 10% change in interest rates would not have had a material impact on our interest expense.

Total borrowings under our 2031 Term Loans were $990.0 million as of June 30, 2025. The amortization rate for the 2031 Term Loans is 1.00% per annum and the 2031 Term Loans were issued at an applicable margin of (i) 1.75% for the term loans that are SOFR loans and (ii) 0.75% for the term loans that are ABR loans.

Total borrowings under our 2029 Term Loans were $1,451.5 million as of June 30, 2025. The amortization rate for the 2029 Term Loans is 1.00% per annum and the 2029 Term Loans were issued at an applicable margin of (i) 1.75% for the term loans that are SOFR loans and (ii) 0.75% for the term loans that are ABR loans.

All SOFR-based interest rates under the Credit Facility are subject to a 0.0% floor.

There have been no material changes in the interest rate swaps disclosed in the 2024 10-K. The interest rate swaps on the 2029 and the 2031 Term Loans had a notional amount of $1,216.1 million and $712.5 million, respectively, as of June 30, 2025.

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**Item 4. Controls and Procedures**

**Evaluation of Disclosure Controls and Procedures**

We maintain disclosure controls and procedures that are designed to provide reasonable assurance that information we are required to disclose in reports we file or submit under the Securities Exchange Act of 1934, as amended (the Exchange Act) is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's (SEC) rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer (CEO) and Chief Financial Officer (CFO), as appropriate, to allow timely decisions regarding such disclosure.

Our management, with the participation of our CEO and our CFO, who are our principal executive officer and principal financial officer, respectively, evaluated the effectiveness of our disclosure controls and procedures pursuant to Rule 13a-15 under the Exchange Act, as of the end of the period covered by this Quarterly Report.

Based on this evaluation, our CEO and CFO concluded that, as of June 30, 2025, our disclosure controls and procedures are designed at a reasonable assurance level and are effective to provide reasonable assurance that information we are required to disclose in reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to our management, including our CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.

**Changes in Internal Control Over Financial Reporting**

No changes in our internal control over financial reporting occurred during the quarter ended June 30, 2025 that materially affected, or which are reasonably likely to materially affect, our internal control over financial reporting.

**Limitations on Effectiveness of Controls and Procedures**

In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and management is required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs. The design of any disclosure controls and procedures is also based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

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**Part II - OTHER INFORMATION**

**Item 1.&nbsp;&nbsp;&nbsp;&nbsp;Legal Proceedings**

There have been no material changes from the legal proceedings described in our 2024 Form 10-K.

**Item 1A. Risk Factors**

*You should carefully consider the risks described below before making an investment decision in our common stock. Our operations and financial results are subject to various risks and uncertainties, including those described below and the other information in this Quarterly Report on Form 10-Q and in our other public filings. If any of the following risks occur, our business, financial condition, reputation, operating results and growth prospects could be materially and adversely affected. Additional risks and uncertainties not currently known to us or that we currently deem immaterial may also materially adversely affect our business, operating results, financial condition, reputation and growth prospects.*

**Risk Factor Summary**

The following is a summary of the principal risks that could materially and adversely affect our business, financial condition, operating results and growth prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we are unable to continue to increase sales to new and existing customers, our business and operating results would be harmed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we do not successfully develop and market products that anticipate or respond timely to the needs of our customers, our business and operating results may suffer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The use of new and evolving technologies, such as AI, may result in reputational harm and liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We face significant competition for our products, which we expect will continue to intensify, and we may not be able to maintain or improve our competitive position or market share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our pricing decisions may adversely affect our ability to attract and retain customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The future growth of our business depends in part on our international revenue. Our continued international presence could subject us to additional risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have taken significant actions to support profitable growth. These actions may not succeed. If we do not effectively manage future growth, our operating results will be adversely affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Acquisitions and other strategic transactions, including investments or entries into new businesses, joint ventures, divestitures or other transactions, could require significant management attention, disrupt our business, dilute stockholder value and adversely affect our operating results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We are exposed to the risk of system failures and capacity constraints.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We rely on information technology systems, including third-party cloud computing systems, and data centers to deliver many of our products and services. These information technology systems and data centers may experience outages, disruptions or degradations, and we may otherwise lose access to the services third-party service providers provide to us, any of which could impact our services, products and technology infrastructure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An actual or perceived cybersecurity incident could impair our ability to conduct business, provide our products or services, protect data, and comply with contractual or legal obligations, and may cause us to incur substantial costs, or subject us to significant liability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We rely on our marketing efforts and channels to maintain awareness of our brand and acquire new customers. These efforts may require significant expense and may not be successful or cost-effective.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our ability to increase sales of our products is highly dependent on the quality of our customer care. Our failure to provide high-quality customer care would have an adverse effect on our business, brand and operating results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our failure to properly register or maintain our customers' domain names or comply with applicable laws, rules and regulations relating to domain name registration and maintenance could subject us to additional liability, regulatory action, expenses, claims of loss or negative publicity that could have a material adverse effect on our business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our quarterly and annual operating results may be adversely affected due to a variety of factors, which could make our future results difficult to predict and could cause our operating results to fall below investor or analyst expectations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our level of indebtedness could adversely affect our financial condition, our ability to raise additional capital to fund our operations, our ability to operate our business and our ability to react to changes in the economy or our industry, as well as divert our cash flow from operations for debt payments and prevent us from meeting our debt obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Laws, regulations, policies or claims concerning the domain name registration system and the Internet in general, and industry reactions to those policies or claims, may cause instability in the industry and disrupt our business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We are subject to local and international laws, rules, regulations and orders relating to the operation and security of our computer network and the processing of data, including personal data.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our business depends on our customers' continued and unimpeded access to the Internet and the development and maintenance of Internet infrastructure. Internet access providers may be able to block, degrade or charge for access to certain of our products, which could lead to additional expenses and the loss of customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our business could be affected by new governmental regulations regarding the Internet.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We may face liability or become involved in disputes over registration and transfer of domain names and control over websites.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our payments-related operations, including GoDaddy Payments, are subject to various laws, regulations, and restrictions. Our failure to comply with such rules, regulations, and restrictions regarding our payments-related operations or properly manage the risks inherent to such operations could materially harm our business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our share price may be volatile, and you may lose all or part of your investment.

**Strategic Risks**

***If we are unable to continue to increase sales to new and existing customers, our business and operating results would be harmed.***

Our success largely depends on our ability to continue to increase sales to new and existing customers. Although growth has increased rapidly in the past, in recent periods our growth rates have slowed or declined, due to factors, including the larger size, scale and maturity of parts of our business, and recent divestitures, migrations and the end of life of certain products. We cannot be assured that we will achieve increasing growth rates in future periods as our ability to increase sales to new and existing customers and ultimately our total revenue could decline or grow slower than we expect as a result of a number of factors, such as lower demand or satisfaction with our solutions, the timeliness and success of new products or product enhancements, pricing of our solutions compared to our competitors, competitive conditions, customer spending levels, changes in the type and size of our customer base, the reliability and availability of our customer support, general economic and global market conditions, or other factors that are not known to us at this time.

We have experienced growth in recent years, due in large part to sustained subscription growth and strong levels of subscription renewals, including customers who expand their use of our integrated platform over time. Our costs associated with renewals are lower than costs associated with acquiring new customers and selling additional products to existing customers. Therefore, our inability to attract new customers, or a reduction in renewals, even if offset by an increase in other revenue could reduce our operating margins in the near term and could have a material adverse effect on our business, growth prospects and operating results.

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Moreover, we focus our operations on entrepreneurs, customers with new ventures and those with established small and medium-sized businesses. We aim to grow our revenues by adding new customers, selling additional business solutions to these customers and encouraging them to continue to use and purchase our products and services. However, these customers often have limited budgets and may choose not to allocate resources to our solutions, especially in times of economic uncertainty or recessions. In addition, varying economic conditions could result in decreases or increases in business formations or failures of businesses we serve. If this market fails to be as lucrative as we project or we are unable to market and sell our services to these businesses effectively, or we are unable to increase sales of our products to all customer segments we target, or may target in the future, our ability to grow our revenues and maintain profitability will be harmed.

***If we do not successfully develop and market products that anticipate or respond timely to the needs of our customers, our business and operating results may suffer.***

The markets in which we compete are characterized by constant change, innovation, frequent new product and service introductions and evolving industry standards. We expect these markets to continue to rapidly evolve. Our historical success has been based on our ability to identify and anticipate customer needs and design products that provide our customers with the tools they need to grow their businesses. For example, we launched GoDaddy Airo<sup>®</sup> in 2023, and we have continued to enhance the AI-powered experience with new features, such as Airo Plus Site Optimizer and Airo Site Designer, among others. We also continue to expand our commerce offerings, for example, we recently launched GoDaddy Capital, a merchant cash advance program, and Same-Day Payouts, an option for customers to elect to receive their payouts on the same day as the payment is processed.

We must continue to identify our customers' needs and develop new and enhanced technology to maintain our competitive position. The process of developing new solutions and enhancements is complex, uncertain and can be costly. Our new products or product enhancements could fail to attain meaningful customer acceptance for many reasons, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to accurately predict market demand or customer preferences;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to bring products to market on a timely or cost effective basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• defects, errors or failures in product design or performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• negative publicity about product performance or effectiveness, including negative comments on social media;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the perceived value of our products or product enhancements relative to their cost;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• scalability of products or product enhancements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• general satisfaction of our customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changing regulatory requirements adversely affecting the products we offer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• poor business conditions for our customers or poor general macroeconomic conditions.

If our new products or product enhancements do not achieve adequate acceptance by our customers or do not result in increased sales or subsequent renewals, our competitive position will be impaired, our anticipated revenue growth may not be achieved and the negative impact on our operating results may be particularly acute because of the upfront technology and development, marketing and advertising and other expenses we may incur in connection with new products or enhancements.

***The use of new and evolving technologies, such as AI, may result in reputational harm and liability.***

We are increasingly using new and rapidly evolving technologies, such as AI, to, among other things, develop new tools and products, add new features in our existing products and enhance our own business operations. There are significant risks involved in the development, adoption, use, deployment and maintenance of AI, such as potential increases in intellectual property infringement or misappropriation, privacy, data protection, cybersecurity, confidentiality, operational and technological risks, as well as risks associated with harmful content, accuracy, bias and discrimination, any of which could affect our further development, adoption, use, deployment and maintenance of AI. Our use of AI technologies in new or existing products and within our business operations may result in new or enhanced governmental or regulatory scrutiny, litigation, ethical concerns, increases in research and development or other costs or other complications that are not yet known to us, each of which could adversely affect our business, reputation or financial results.

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Legal and regulatory frameworks related to the use of AI are rapidly evolving, as regulation of the use of AI continues to be considered and adopted by various U.S. and international governmental and regulatory entities. Several jurisdictions have passed, or are considering, new laws, rules and regulations relating to the use of AI or its outputs. For example, in 2024, the E.U. adopted the E.U. AI Act and U.S. states, including Colorado and California, have adopted laws, rules and regulations directly relating to the use of AI or extending the application of existing laws, rules and regulations to AI systems and outputs. Any failure by us to comply with any AI-related laws, rules and regulations could result in fines and negative publicity, which could result in reputational harm and damage to our business. In addition, the future impact of these or other new laws, rules or regulations on us is uncertain. We may not be able to adequately anticipate or respond to new laws, rules and regulations, and we may need to expend additional resources to adjust our offerings or update our business practices in certain jurisdictions if applicable legal frameworks are inconsistent across jurisdictions. The costs of complying with such laws, rules or regulations could be significant and could increase our operating expenses, which could adversely affect our business, financial condition and results of operations.

Our use of AI could also pose other concerns. If we enable or offer solutions that draw controversy or if these new offerings do not work as we intend, we may experience brand or reputational harm, competitive harm or legal liability. Further, generative AI may create content that appears correct but is factually inaccurate, incomplete, insufficient, biased or otherwise flawed or contains copyrighted or other protected material, which may not be easily detectable despite internal policies and diligence efforts we may have in place which are designed to mitigate such deficiencies. To the extent we or our customers rely on such results, we could incur operational inefficiencies, competitive harm, brand or reputational harm, or other adverse impacts on our business and results of operations. Additionally, if any of our employees, contractors, vendors or service providers use any third-party AI-powered software in connection with our business or the services they provide to us, it may lead to the inadvertent disclosure of our personal, sensitive, proprietary or confidential information into publicly available third-party training sets, which may impact our ability to realize the benefit of, or adequately maintain, protect and enforce our intellectual property or our personal, sensitive, proprietary or confidential information, harming our competitive position and business. The rapid evolution of the use of AI requires and will continue to require resources to develop, test and maintain our products and services to help ensure that AI is implemented appropriately in order to minimize unintended and harmful impacts.

It is not possible to predict all of the risks related to the use of AI, and changes in laws, rules, directives and regulations governing AI may adversely affect our development, adoption, use, deployment and maintenance of AI or subject us to legal liability, regulatory action or brand and reputational harm.

***Evolving technologies and administration of the Internet, and the resulting changes in customer behavior and customer practices may impact the value of and demand for our products, including domain names and our websites.***

The domain name registration market continues to evolve and adapt to changing technology. This evolution has and may in the future include changes in the administration or operation of the Internet, including the creation and institution of alternate systems for directing Internet traffic without using the existing domain name registration system, or fundamental changes in the domain name resolution protocol used by web browsers and other Internet applications. The widespread acceptance of any alternative system, such as mobile applications or closed networks, could eliminate the need to register a domain name to establish an online presence and could materially and adversely affect our business.

In addition, businesses rely heavily on social media channels, such as Meta, TikTok, Snapchat, X and WeChat, to reach their customers, and consumers are accessing the Internet more frequently through applications on mobile devices. As reliance on

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these applications increases, domain names may become less prominent, and their value may decline. We are dependent on the interoperability of our products with these applications and mobile devices. If we are unable to effectively integrate our products within these applications or on these devices, we may lose market share. These evolving technologies and changes in customer behavior may have an adverse effect on our business and growth prospects.

***We face significant competition for our products, which we expect will continue to intensify, and we may not be able to maintain or improve our competitive position or market share.***

The market for our products and services is highly competitive, and we expect this competition to continue in the future as existing and new competitors introduce new solutions or enhance existing solutions. In addition, given our broad product portfolio, we compete with niche point-solution products as well as broader solution providers. These types of products and solutions continue to evolve, creating opportunities for new competitors to enter the market with point-solution products or address specific segments of the market. Our competitors include providers of domain registration services, web-hosting solutions, website creation and management solutions, e-commerce enablement providers, payment facilitation providers, cloud computing service and online security providers, alternative web presence and marketing solutions providers and providers of productivity tools such as business-class email.

We and our competitors continue to invest in AI, including generative AI and integration of AI capabilities into products and services. AI technology and services are highly competitive, rapidly evolving, and at times require significant investment, including with respect to development and operational costs, to meet the changing needs and expectations of our existing and potential customers. Further, other companies may develop AI products and technologies that are similar or superior to our technologies or more cost-effective to deploy. Any failure to successfully develop, adopt, use and maintain AI products and services, or effectively manage the related operational risks, could harm our reputation. Refer to our risk factor "The use of new and evolving technologies, such as AI, in our offerings may result in reputational harm and liability" for further information concerning the legal and other risks arising from the development, adoption, use, deployment and maintenance of AI.

Some of our current and potential competitors could have greater resources, more brand recognition and consumer awareness, more diversified product offerings, greater international scope and larger customer bases than we do, and we may therefore not be able to effectively compete with them. In addition, some of our competitors may seek to disrupt the market by offering their services and products at low or no cost. If our competitors decide to devote greater resources to the development, promotion and sale of products in the markets in which we compete, or if the products offered by these companies are more attractive to or better meet the evolving needs of our customers, our market share, growth prospects and operating results may be adversely affected.

Increased competition in our industry could result in lower sales, price reductions, reduced margins, loss of market share and increased marketing expenses. Further, conditions in our market could rapidly and significantly change as a result of technological advancements, partnering by our competitors, market consolidation, the invention of similar or superior products and technologies or solution enhancements, which compete with our products and technologies. Our ability to continue to compete will depend upon our ability to provide better solutions than our competitors at more competitive prices. For additional information regarding our competitors, see the section titled "Competition," contained in Part I, Item 1 of our 2024 Form 10-K.

***Our pricing decisions may adversely affect our ability to attract and retain customers.***

From time to time, we have changed our overall pricing model or the various price points of our solutions, and we expect to do so in the future. However, no assurance can be given that any new pricing model or price points will be optimal and changes in our price points or pricing model could result in a loss of customers or bookings. In addition, our competitors have in the past implemented, and may in the future implement, various pricing and bundling strategies, including discounts and reductions in price, which may be similar to or more attractive than our own. Individuals as well as small and medium sized businesses have been and could be sensitive to price increases or swayed by different price points offered by competitors. If changes in our pricing model or price points are unsuccessful, or the strategies of our competitors are more successful than our own, we may be unable to attract new customers or retain our existing customers and we may be required to reduce prices or make other changes to our pricing model to remain competitive. Any of these developments could negatively impact our business, financial condition and results of operations.

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***The future growth of our business depends in part on increasing our international revenue. Our continued international presence could subject us to additional risks.***

International revenue represented approximately 32%, 32% and 33% of our total revenue for the years ended December 31, 2024, 2023 and 2022, respectively. We continue to review and add systems as necessary to accept payments in forms common outside of the U.S., optimize our marketing efforts in numerous non-U.S. geographies, equip our customer care team with the knowledge to serve these markets and maintain or establish, as needed, customer care operations in overseas locations. In addition, we continue to expand our employee base in a number of international locations with particular emphasis in Colombia, India, Romania, Bulgaria and Serbia.

Our international business and operations subject us to a variety of risks, including related to political, economic, social and other risks, some of which we may not generally encounter in the U.S. Such risks may include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• management, communication and integration problems resulting from language barriers, cultural differences and geographic dispersion of our customers and personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• language translation of, and associated customer care guidance for, our products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with international laws, rules and regulations, including laws, rules and regulations regarding consumer protection, the Internet and e-commerce or mobile commerce, intellectual property, online disclaimers and advertising, liability of Internet service providers for activities of customers especially with respect to hosted content, competition, anti-bribery, privacy, data protection and cybersecurity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• accreditation and other regulatory requirements to do business and to provide domain name registration and registry services, web-hosting and other products in foreign jurisdictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• greater difficulty in enforcing contracts, including our universal terms of service and other agreements due to differences in local legal regimes and court systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increased expenses incurred in establishing and maintaining office space and equipment, if needed, in our international locations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• greater costs and expenses associated with international marketing and operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• greater risk of unexpected changes in regulatory practices, tariffs, trade disputes and tax laws and treaties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increased exposure to foreign currency risks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• heightened risk of unfair or corrupt business practices in certain geographies, and compliance with anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with market access regulations, tariffs and import, export and general trade regulations, including economic sanctions and embargoes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the potential for political, social or economic unrest, terrorism, hostilities or war;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• differing labor laws and regulations, including those related to working time, benefit provision and labor rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• greater risk of investigation, audit and sanctions by labor authorities in connection with our labor practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• greater risk of sudden changes in labor law and practice in connection with changes in government or governmental policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• multiple and possibly overlapping tax regimes.

Maintaining business and operations in international markets has required and will continue to require management attention and financial resources. These additional costs may increase our costs of acquiring international customers, which may impair our ability to maintain profitability in the future. We may also face pressure to lower our prices in order to compete in emerging markets, which could adversely affect revenue derived from our international business.

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In addition, geopolitical changes, such as trade disruptions, including the imposition of tariffs by the U.S. on imports from certain countries and any resulting counter-tariffs, political unrest, warfare and military or armed conflict, including those involving China, Ukraine/Russia and the Middle East and the resulting macro-economic impacts from such geopolitical changes, could impair our growth prospects and adversely affect our business, operating results and financial condition. Although our business has not been materially negatively impacted to date by the conflicts between Russia and Ukraine and those in the Middle East, our business and operations could be materially negatively impacted by these or other conflicts or geopolitical changes in the future, and it is impossible to predict the extent of any such impacts, including over the long term.

***We have taken significant actions to support profitable growth. These actions may not succeed. If we do not effectively manage future growth, our operating results will be adversely affected.***

We continue to work to increase the breadth and scope of our business, operations and our product offerings. To support future growth, we must continue to improve our information technology and financial infrastructure, operating and administrative systems and our ability to effectively manage headcount, capital and processes. We are likely to recognize the costs associated with these actions earlier than some of the anticipated benefits, and the return on these actions may be lower or may develop more slowly than we expect. If we do not achieve the benefits anticipated from these actions, or if the achievement of these benefits is delayed, our operating results may be adversely affected.

We have incurred, and expect to continue to incur, expenses relating to our investments in our international business and operations, such as: (i) our offerings and marketing presence in India, Europe, Latin America, the Middle East, North Africa, and Asia; (ii) our marketing spend to attract new customers, such as WebPros and Independents in non-U.S. markets; and (iii) investments in software systems and additional data center resources to keep pace with the growth of our cloud infrastructure and cloud-based product offerings. We have made, and may make in the future, significant investments in product development, corporate infrastructure, technology and development, marketing and our GoDaddy Guides.

As we continue to grow, our management, administrative, operational and financial infrastructure may be strained. The scalability and flexibility of our infrastructure depends on the functionality and bandwidth of our data centers, peering sites and servers. The number of total customers over the years and the increase in the number of transactions we process have increased the amount of our stored customer data. Any loss of data or disruption in our ability to provide our product offerings due to disruptions in our infrastructure, services or third parties we rely on could result in harm to our brand or reputation. Moreover, as we continue to expand our solutions, work to grow our customer base and use our integrated platform for more complicated tasks, we will need to devote additional resources to improve our infrastructure and enhance its scalability and security. If we do not manage the growth of our business and operations effectively, the quality of our platform and efficiency of our operations could suffer, which could harm our operating and business results.

***Acquisitions and other strategic transactions, including investments or entries into new businesses, joint ventures, divestitures or other transactions, could require significant management attention, disrupt our business, dilute stockholder value and adversely affect our operating results.*** 

As part of our business strategy, we routinely evaluate opportunities that we believe could complement or supplement our business and address the needs of our customers, including possible acquisitions or investments in companies, talent, products, intangible assets or technologies, and for potential joint ventures, new lines of business, or other strategic investments. Such transactions could result in unforeseen operating difficulties and expenditures and could involve a number of risks, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• diversion of management's attention, available cash and other resources from our existing business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• incurrence of substantial debt or requirements to issue equity securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• difficulty integrating and managing the acquired products, talent, technology and security infrastructures, new brands and acquired customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposure to litigation or other claims, including related to intellectual property, privacy, data protection, cybersecurity, AI, regulatory compliance practices or employment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• unforeseen costs or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse tax consequences;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• retention and integration of employees from an acquired company, including potential risks and challenges to our company's culture, and ability to maintain and integrate systems and operations if such employees are geographically dispersed or choose not to work with us once acquired;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with new or increased regulatory requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse effects to our existing business relationships, lack of customer acceptance, or inability to attract new customers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• inability to compete effectively in a new line of business due to lack of experience or knowledge, or other external factors, such as competitive alternatives, potential conflicts of interest, or shifting market preferences.

In addition, we may have to pay cash, incur debt or issue equity securities to pay for future acquisitions, each of which could adversely affect our financial condition or the value of our Class A common stock. Equity issuances in connection with potential future acquisitions may also result in dilution to our stockholders.

If we fail to properly evaluate, execute or integrate acquisitions or investments, or are unable to effectively compete in a new line of business, the anticipated benefits may not be realized, we may be exposed to unknown or unanticipated liabilities and our business and growth prospects could be harmed. In addition, any future acquisitions, investments or other strategic transactions we complete could be viewed negatively by our customers, investors or industry analysts. Any inability to integrate completed acquisitions in an efficient and timely manner could have an adverse impact on our results of operations.

***Our company's culture has contributed to our success, and if we cannot maintain this culture as we grow, we could lose the innovation, creativity, passion and teamwork that we believe contribute to our success and our business may be harmed.***

We believe a contributor to our success has been our company's culture, which we rely on to foster innovation, creativity, a customer-centric focus, passion, teamwork, collaboration and loyalty. We have invested substantial time and resources to build and maintain this culture. Any failure to preserve these aspects could negatively affect our ability to retain and recruit personnel and to ensure employees effectively focus on and pursue our company objectives. Our company's culture is central to our devoted GoDaddy Guides, who are a key component of the value we offer our customers. As we continue to evolve our business, expand our global footprint and product portfolio and rely more on remote, foreign and third-party workers, we may need to expend additional efforts and focus to maintain these important aspects of our culture, which could limit our ability to innovate and operate effectively. If we are not successful in these efforts, our growth and operations could be adversely affected.

Currently none of our employees in the U.S. are subject to collective bargaining agreements, however, if areas of our workforce were to organize, we may find it difficult to maintain our culture, cost structure and control over the delivery of our products, which could adversely impact our results of operations. Certain of our employees in Germany are represented by employee works councils and elsewhere some international employees are represented by worker representatives or trade unions in accordance with local regulations.

**Operational Risks**

***We are exposed to the risk of system failures and capacity constraints.***

We have experienced, and may in the future experience, system failures and outages disrupting the operation of our websites or our products such as web-hosting and email, or the availability of our customer care operations. Our revenue depends in large part on the volume of traffic to our websites, the number of customers whose websites we host on our servers and the availability of our customer care operations. Accordingly, the performance, reliability and availability of our websites and servers for our corporate operations and infrastructure, as well as in the delivery of products to customers, are critical to our reputation and our ability to attract and retain customers. Any such system failure or outage could generate negative publicity, which could negatively impact our reputation and financial results. As we continue to transition many of our services to Amazon Web Services (AWS) to host our products, we have become, and may further become, more dependent on third parties to accommodate the traffic to our websites and those of our customers.

We continually work to expand and enhance our website features, technology and network infrastructure and other technologies to accommodate current levels of and potential increases in (i) the volume of traffic on our godaddy.com and affiliated websites, (ii) the number of customer websites we host and (iii) our total customers. We may be unable to project

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accurately the rate or timing of these increases or to successfully allocate resources to address such increases, which could have a negative impact on customer experience and our financial results. In the future, we may be required to allocate additional resources, including spending substantial amounts to build, purchase or lease data centers and equipment and upgrade our technology and network infrastructure to handle increased customer traffic, as well as increased traffic to customer websites we host. We also expect to increasingly rely on third-party cloud computing and hosting providers, such as AWS, as we transition to the public cloud. We cannot predict whether we will be able to continue to add network capacity from third-party suppliers as we require it. In addition, our network or our suppliers' networks might be unable to achieve or maintain data transmission capacity high enough to process orders or download data effectively or in a timely manner. Our failure, or our suppliers' failure, to achieve or maintain high data transmission capacity could significantly reduce consumer demand for our products. The property and business interruption insurance coverage we carry may be subject to fact-dependent and incident-specific exclusions or may not be adequate to compensate us fully for losses that may occur.

***We rely on information technology systems, including third-party cloud computing systems, and data centers to deliver many of our products and services. These information technology systems and data centers may experience outages, disruptions or degradations, and we may otherwise lose access to the services third-party service providers provide to us, any of which could impact our services, products and technological infrastructure.***

We rely on data centers and third-party service providers, including providers of cloud computing services, to deliver our solutions and perform certain technology, processing, servicing and support functions on our behalf. We own one data center in Arizona and lease our remaining data center capacity from wholesale providers. The reliable performance of our products and services depends on the continuing operation and availability of our information technology systems, including our data centers, and those of our external service providers, including third-party "cloud" computing services. The reliable delivery and stability of our products and services could be adversely impacted by security incidents, outages, disruptions, failures, natural disasters, terrorist attacks, human error, or degradations of our network and related infrastructure, including in the online platforms or services of key business partners that offer, support or host our products and services, or by other events outside or within our control, such as the migration of data among data centers and to third-party hosted environments, the performance of upgrades and maintenance on our systems, and effectively scaling our technological infrastructure, which we have undertaken in the past.

If we or our external business partners were to experience an event that caused a system outage, disruption or degradation, or if a transition among data centers or service providers or an upgrade or maintenance session encountered unexpected interruptions, unforeseen complexity or unplanned disruptions, our products and services may not be available to consumers or may not be delivered reliably and stably. In addition, if our agreements for our data centers and with our service providers are terminated, if we are unable to renew such agreements on commercially reasonable terms or at all, or if the service providers close the facilities or cease providing the services on which we rely, we may be required to transfer to a new service provider, and our agreements may not provide us with adequate time to transfer operations to a new facility in the event of a termination. As a result, our reputation and brand may be harmed, consumer engagement with our products and services may be reduced, and our revenue and profitability could be negatively impacted. We do not have redundancy for all our systems, many of our critical applications reside in only one of our data centers, and our disaster recovery planning may not account for all eventualities. In addition, we may have limited remedies against these third parties in the event of service disruptions. If third parties are unable to perform these functions on our behalf because of service interruptions or extended outages, or because those services are no longer available on commercially reasonable terms, our expenses could increase and our customers' use of our products could be impaired until equivalent services, if available, are identified, obtained and implemented, all of which could adversely affect our business.

***Enhancements or migration of information and data to new technology platforms, systems or applications may disrupt our operations or could expose us to a cyber attack or other cybersecurity incident which could delay or interrupt service to our customers, harm our reputation, cause us to incur substantial costs or subject us to significant liability.*** 

We maintain information and data (including personal data) on various platforms, systems and applications. From time to time we review and make enhancements to our existing platforms or migrate information and data to new platforms, systems and applications. While we are engaged in this work, we may experience difficulties in managing our existing platforms, systems and applications, which could disrupt our operations, the provision of our products and services to our customers, the management of our finances and the reporting of our financial results. If we determine new platforms, systems or applications or updates to existing platforms, systems or applications are necessary, we may need to rely on legacy platforms, systems or applications while we plan for implementation of such new or updated platforms, systems or applications and such legacy platforms, systems or applications may not be able to scale efficiently as our business grows, which may delay future product or service launches or enhancements. In addition, any new platforms, systems or applications may operate differently than

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anticipated when introduced or when new versions or enhancements are released, or there may be unforeseen consequences as a result of these migrations that may cause disruptions to the availability of our products and services due to service outages, downtime or other similar issues that could harm our business. Further, our transition could involve significant time and expense. Our failure to improve our platforms, systems or applications, complete such implementations, enhancements or migrations on a timely basis, or a failure of such platforms, systems or applications to operate in the intended manner, may result in our inability to manage the growth of our business, successfully integrate our acquisitions and to accurately forecast and report our results, which could harm our financial condition and results of operations. In addition, the migration of information and data can create additional exposure to cyber attacks and other cybersecurity incidents, including, but not limited to, improper access to our or our customers' websites and data (including personal data). Refer to our risk factor "An actual or perceived cybersecurity incident could impair our ability to conduct business, provide our products and services, protect data, and comply with contractual or legal obligations, and may cause us to incur substantial costs, or subject us to significant liability" for further information.

***We substantially rely upon AWS services to operate our integrated platform, and any disruption of or interference with our use of AWS would adversely affect our business, results of operations and financial condition.***

A substantial portion of our cloud infrastructure is provisioned through AWS, which hosts some of our products and platforms. Our customers need to be able to access our platform at any time, without interruption or degradation of performance. AWS runs its own platform that we access, and we are, therefore, vulnerable to service interruptions at AWS. We may experience interruptions, delays and outages in service and availability of AWS services due to a variety of factors, including infrastructure changes, human or software errors, website hosting disruptions and capacity constraints due to any number of potential causes, including technical failures, natural disasters, pandemics, fraud or cybersecurity attacks, all of which could impact our service to our customers. In addition, if the security of AWS is compromised, or our products or platform are unavailable or our users are unable to use our products within a reasonable amount of time or at all, then our business, results of operations and financial condition could be adversely affected. In some instances, AWS or we may not be able to identify the cause or causes of these performance problems within a period of time acceptable to our customers. It may become increasingly difficult to maintain and improve our platform performance, especially during peak usage times, as our products become more complex and the usage of our products increases. To the extent that we do not effectively address capacity constraints, either through AWS or alternative providers of cloud infrastructure, our business, results of operations and financial condition may be adversely affected. In addition, any changes in service levels from AWS may adversely affect our ability to meet our customers' requirements, result in negative publicity which could harm our reputation and brand and may adversely affect the usage of our platform.

We use AWS primarily for cloud-based server capacity and, to a lesser extent, storage and other optimization offerings. AWS enables us to order and reserve server capacity in varying amounts and sizes distributed across multiple regions. We access AWS infrastructure through standard IP connectivity. AWS provides us with computing and storage capacity pursuant to an agreement that continues until terminated by either party. AWS may terminate the agreement for cause upon notice and upon our failure to cure a breach within 45 days from the date of such notification and may, in some cases, suspend the agreement immediately for cause upon notice. Although we expect that we could receive similar services from other third parties, if any of our arrangements with AWS are terminated, we could experience interruptions on our platform and in our ability to make our products available to customers, as well as delays and additional expenses in arranging alternative cloud infrastructure services. Any of the above circumstances or events may harm our reputation, erode customer trust, cause customers to stop using our products, impair our ability to increase revenue from existing customers, impair our ability to grow our customer base, subject us to financial penalties and liabilities under our service level agreements and otherwise harm our business, results of operations and financial condition.

***An actual or perceived cybersecurity incident could impair our ability to conduct business, provide our products and services, protect data, and comply with contractual or legal obligations, and may cause us to incur substantial costs, or subject us to significant liability.***

Our operations depend on our ability to protect our information systems against interruption, a breach of confidentiality, or other damage from cybersecurity threats and incidents. Our large size and global computer network expose us to a wide variety of cybersecurity threats that include cyber attacks from individuals, organized crime groups, nation-state sponsored organizations, and others (collectively, threat actors). These cyberattacks can take many different forms, including but not limited to deploying malicious software, exploiting hardware and software vulnerabilities, social engineering, or other actions to gain access to our systems and data or disrupt our operations. In addition, cyberattacks are constantly evolving as threat actors discover new vulnerabilities and leverage new techniques and technologies, including through the use of AI. For example, we have experienced, and may continue to experience, an increase in social engineering attacks to conduct sophisticated phishing campaigns. Although

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we have made investments in cybersecurity defenses, we cannot guarantee that our defenses (or those of our third-party service providers) will be sufficient to prevent disruption or unauthorized access to our systems.

In addition to threats from external threat actors, we face internal cybersecurity threats related to our own operations. These threats may include human error, intentional misconduct, or accidental failures. Although we have made investments in cybersecurity defenses designed to guard against insider threats, we cannot guarantee that our defenses (or those of our third-party service providers) will be sufficient to prevent an insider from causing unauthorized disruption or access to our systems or data.

If our cybersecurity defenses (or those of our third-party service providers) are insufficient to prevent a cybersecurity incident, we may experience significant business disruption, substantial costs, reputational harm, and liability. Any actual or suspected cybersecurity incident may disrupt our business by, among other things, making our network, systems and services partially or totally unavailable or by destroying, corrupting, exposing, or otherwise unlawfully processing data necessary for us or our customers to conduct business. An actual or suspected cybersecurity incident also may cause us to incur a wide range of costs, including but not limited to acquiring new hardware and software to repair our systems or remediate the effects of the incident, retaining external consultants, and providing notice to affected customers, individuals, and government authorities. A cybersecurity incident also may cause reputational harm if, for example, customers believe we are unable to protect our systems or their data (including sensitive, confidential, proprietary, and personal data). Finally, we have been and in the future may be subject to litigation or governmental investigations relating to our failure to prevent a cybersecurity incident.

We have purchased cybersecurity insurance to cover the costs and potential liability arising from cybersecurity incidents. Our coverage, however, includes significant deductibles. We cannot ensure that our existing cybersecurity insurance coverage will be sufficient to cover the successful assertion of one or more large claims against us, continue to be available on acceptable terms, or at all, or that the insurer will not deny coverage as to any future claim. Thus, we cannot guarantee that our insurance will provide coverage for a specific cybersecurity incident or will be sufficient to cover all the potential costs and liabilities of any specific cybersecurity incident.

***If we experience fraudulent activity relating to our, or our third-party vendors' products and services, we could suffer service interruptions or incur substantial costs.***

Our products and services, and the products and services of our third-party vendors and partners, may be subject to fraudulent usage, including, but not limited to domain name hijacking, revenue share fraud, and other evolving schemes (external fraudulent activity). In addition, although our customers are required to set passwords or personal identification numbers to protect their accounts, third parties have in the past been, and may in the future be, able to access and use our customers' accounts through fraudulent means. Fraudulent activity can result in, among other things, interruption of our services to our customers, and substantial business and reputational harm to ourselves and to our customers. Although we implement multiple fraud prevention and detection controls, our ability to mitigate risks originating from third-party vendors and partners may be limited by their own controls and practices, and we cannot be certain that our efforts to address external fraudulent activity and the use of our, or our third parties' and vendors' products and services, will be successful in eliminating these threats, any of which could adversely affect our business, results of operations and financial condition. Our monitoring and updates to our controls and oversight frameworks may be insufficient to mitigate impacts to our business as a result of emerging fraud trends.

***We rely on our marketing efforts and channels to maintain awareness of our brand and acquire new customers. These efforts may require significant expense and may not be successful.***

We use a variety of marketing channels to maintain awareness of our brand, including online keyword search, sponsorships and endorsements, television, radio and print advertising, email and social media marketing. Our GoDaddy Guides also market our brand through their recommendations of our products or solutions to specifically meet the needs of our customers. In order to maintain and grow our revenues, we need to continuously optimize and diversify our marketing campaigns and strategies and increase our efforts to expand customer awareness of our brand and portfolio of products. There can be no assurance that our marketing efforts will succeed. If we lose access to one or more of these channels, we may be unable to promote our brand effectively, which could limit our ability to grow our business. Protecting and maintaining awareness of our brand is important to our success, particularly for continued acceptance of our existing and future products and solutions, attracting new customers and increasing customer awareness of our full product portfolio. Further, if our marketing activities fail to generate traffic to our website, attract new customers or lead to new sales or renewals of our products at the levels we anticipate or our efforts to personalize our marketing efforts are not successful, our business and operating results could be adversely affected.

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In the years ended December 31, 2024, 2023 and 2022, our marketing and advertising expenses were $356.9 million, $352.9 million and $412.3 million, respectively. If these costs or our customer acquisition costs increase or we fail to generate additional sales as a result of our marketing efforts, our business, operating results and financial performance could be adversely affected.

***Our ability to increase sales of our products is highly dependent on the quality of our customer care. Our failure to provide high-quality customer care would have an adverse effect on our business, brand and operating results.***

We believe our focus on high-quality customer care is critical to retaining, expanding and further penetrating our customer base, as well as generating additional sales of products to our customers. Our GoDaddy Guides have historically contributed significantly to our total bookings. For the years ended December 31, 2024, 2023 and 2022, approximately 8%, 9%, and 10% of our total bookings, respectively, were generated from the sale of product subscriptions by our GoDaddy Guides. Most of our current offerings are designed for customers who often self-identify as having limited to no technology skills. Our customers depend on our GoDaddy Guides to guide them as they create, manage and grow their identities, support their presence, both online and offline, and enable them with products to meet their commerce needs. Our GoDaddy Guides engage with customers through direct calls and/or via other communication channels, such as chat, social media and webcasts, and we continue to increase our self-serve solutions. As our customer base continues to grow, we must continue to broaden our portfolio of solutions, increase the scope of our solution deployments within our customers' IT infrastructure, and adapt our customer support organization to ensure our customers continue to receive the high level of customer service which they have come to expect. If we fail to maintain high quality customer care across our communications platforms to support our growing customers' needs, our reputation, financial results and business prospects may be materially harmed. Notwithstanding our commitment to customer care, our customers may occasionally encounter interruptions in service and other technical challenges, including those resulting from our GoDaddy Guides working remotely. An interruption in service and other challenges could negatively impact our business.

***A portion of our GoDaddy Guides is engaged through third parties and not directly by us.***

We continue to refine our efforts in customer care so we can adequately serve our domestic and international customers. A portion of our GoDaddy Guides is engaged through third parties and not employed by us. If our agreements with such third parties are terminated for any reason, including a breach of agreement, if such third parties or the GoDaddy Guides engaged through the third parties do not perform the level of service expected of GoDaddy or our customers, or if such GoDaddy Guides engage in misconduct, our business and reputation could be harmed and we may need to find and/or train alternative providers, which could increase our costs and delay services to our customers. In addition, such a disruption could adversely impact our ability to serve our customers and to sell products to new and existing customers and we may experience a decline in our subscription renewal rates and in our ability to cross-sell our products and our reputation may suffer, any of which could adversely affect our business, reputation and operating results.

***If we are unable to maintain our contractual relationships with existing partners or establish new contractual relationships with potential partners, we may not be able to offer the products and related functionality our customers expect.***

We rely on relationships with various partners, some of whom create integrations with our products, such as Microsoft Corporation to offer Microsoft 365 email and related productivity tools, and others that create integrations with third-party applications and platforms used by our customers, such as the email encryption service provided by ProofPoint, Inc., email backup and migration services provided by SkyKick and email archiving services provided by Barracuda. We also work to make certain of our products interoperable with services such as Yelp, Google, Amazon, WhatsApp and Instagram and, we provide payment options for customers' websites through providers such as PayPal, Stripe, Block and Mercado Libre.

We have invested and will continue to invest in partner programs to provide new product offerings and help us retain and attract customers. However, our relationships with our partners may not be as successful in retaining or generating new customers as we anticipate, which could adversely affect our ability to increase our total customers. Further, these integrated products could require substantial investment while providing no assurance of return or incremental revenue. If our partners fail to create such integrations, or if they change the features of their applications or alter the terms governing use of their applications in an adverse manner, demand for our products could decrease, which would harm our business and operating results. In addition, if our relationships with our partners deteriorate or we are unable to maintain our contractual relationships with our existing partners or establish new contractual relationships with potential partners, we may not be able to offer the products and related functionality our customers expect, we may experience delays and increased costs in providing for our customers or attracting new customers, and we may lose existing customers. Any ineffectiveness of our partner programs could materially adversely affect our business

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and results of operations and may cause reputational harm. In addition, our partners may increase the fees they charge us or offer their services on terms that are less than favorable to us, including in connection with renewal negotiations. Such increased costs or less than favorable terms could result in increased costs to customers and potential loss of customers, which could have an adverse impact on our results of operations.

***Our failure to properly register or maintain our customers' domain names or comply with applicable laws, rules and regulations relating to domain name registration and maintenance could subject us to additional liability, regulatory action, expenses, claims of loss or negative publicity that could have a material adverse effect on our business.***

System and process failures related to our domain name registration service may result in inaccurate and incomplete information in our domain name database. Despite testing, system and process failures, cybersecurity threats and other vulnerabilities may remain undetected or unknown, which could result in compromised customer data, loss of or delay in revenues, failure to achieve market acceptance, injury to our reputation, increased product costs or other negative impacts, any of which could harm our business. Furthermore, the requirements for registering and maintaining domain names vary from registry to registry and are subject to change. We cannot guarantee we will be able to readily adopt and comply with various registry requirements. For example, the E.U.'s Network Information Security 2 Directive (the NIS2 Directive) requires, among other things, that registries and entities providing domain name registration services adopt policies and procedures, including verification procedures, to ensure that such entities maintain accurate and complete domain name registration data in their domain name databases. The NIS2 Directive is in the process of being transposed into many E.U. member states' respective national laws. Our failure or inability to properly register or maintain our customers' domain names or comply with applicable laws, rules or regulations relating to domain name registration or maintenance might result in significant expenses and subject us to additional liability, regulatory action, expenses, claims of loss or negative publicity, which could harm our business, brand and operating results.

***We are dependent on the reliability, security and performance of our internally developed systems and operations. Any difficulties in maintaining these systems may result in damage to our brand, service interruptions, decreased customer service or increased expenditures.***

The reliability, security and continuous availability of the software, hardware and workflow processes underlying our internal systems, networks and infrastructure and the ability to deliver our products are critical to our business. Any interruptions resulting in our inability to timely deliver our products or customer care, or materially impacting the efficiency or cost with which we provide our products and customer care, would harm our brand, profitability and ability to conduct business. In addition, many of the software and other systems we currently use will need to be enhanced over time or replaced with equivalent commercial products or services, which may not be available on commercially reasonable terms or at all. Enhancing or replacing our systems, networks or infrastructure could entail considerable effort and expense. If we fail to develop and execute reliable policies, procedures and tools to operate our systems, networks or infrastructure, we could face a substantial decrease in workflow efficiency and increased costs, as well as a decline in our revenue.

***Our business is exposed to risks associated with credit card and other payment chargebacks, fraud and new payment methods.***

A significant percentage of our revenue is processed through credit cards and other online payment methods. We face the risk that we may fail to maintain an adequate level of protection against fraud or chargebacks and that one or more credit card associations or other processors may, at any time, assess penalties against us or terminate our ability to accept credit card or other forms of online payments from customers. Under our contracts with our payment processors, we are required to reimburse them for such penalties. If our refunds or chargebacks increase, our processors could require us to create reserves, increase fees or terminate their contracts with us. In addition, as we expand our presence in commerce through our GoDaddy Payments products and services, we face additional risks in payment processing due to customer screening, customer related fraud, hardware failures and servicing, manufacturing costs, the procurement of hardware parts and materials, and risks associated with the interface of our hardware products with third-party mobile devices.

We could also incur significant fines or lose our ability to give customers the option of using credit cards to pay for our products if we fail to follow payment card industry data security standards, even if there is no compromise of the cardholder information covered by these standards. Although we are in compliance with payment card industry data security standards, it is possible that evolving cybersecurity threats may impact our ability to protect cardholder data which could result in fines or could otherwise impact our financial condition, or certain of our products could be suspended, which would cause us to be unable to process payments using credit cards.

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In addition, we could be liable if there is a cybersecurity incident affecting the payment information we store. Online commerce and communications depend on the secure transmission of confidential information over public networks. With the expansion of our offerings through GoDaddy Payments products and services, we face additional burdens in securing and transmitting payment information. We cannot ensure the encryption and authentication technology we rely on to secure the transmission of confidential information will adequately prevent cybersecurity incidents affecting systems. Although we maintain network security insurance, we cannot be certain our coverage will be adequate for liabilities actually arising from a cybersecurity incident or insurance will continue to be available to us on reasonable terms, or at all. In addition, some of our partners also collect or possess payment information about our customers, and we may be subject to litigation or our reputation may be harmed if our partners fail to protect our customers' payment information or if they use it in a manner inconsistent with our policies and practices. Cybersecurity incidents can also occur as a result of non-technical issues. Under our contracts with our processors, if there is unauthorized access to, or disclosure of, credit card information we store, we could be liable to the credit card issuing banks for their cost of issuing new cards and related expenses.

Moreover, in the future we may explore accepting various forms of payment that may have higher fees and costs than our current payment methods. If our customers utilize alternative payment methods, our payment costs could increase and our operating results could be adversely impacted.

***Our future performance depends in part on the services and performance of our senior management, as well as key employees. If we are unable to attract, motivate, and retain our employees, our business could suffer.***

Our future performance depends on the services and contributions of our senior management and key employees to execute on our business plan and to identify and pursue new opportunities and product innovations. The loss of any senior management or other key employees and the hiring of new senior leaders and key employees, especially in a competitive labor market, could significantly delay or prevent our achievement of strategic objectives, business plans and product development as we transition to new leaders and could adversely affect our business, financial condition and operating results.

Our future performance and success also depends, in part, on our ability to continue to hire, retain, manage and motivate highly skilled personnel around the globe. The loss of any of our key personnel, the inability to attract or retain qualified personnel or delays in hiring required personnel, including as a result of changes or evolution in any laws, rules or regulations, may seriously harm our business, financial condition and operating results. We may need to invest significant amounts of cash and equity to retain our employees or attract new employees, and we may never realize returns on these investments. Historically, equity awards have been a key component of our employee compensation program, and as a result, any decline in the price of our Class A common stock (directly or relative to the stock price of other companies with which we compete for talent) may adversely impact our ability to retain employees or to attract new employees.

We have in the past and may in the future expand our solutions through acquisitions. If we expand in this way, we may need to increase our hiring or may become dependent on the key personnel who join us through such acquisitions. If we are unable to successfully integrate and retain such personnel, our financial condition and operating results may be adversely affected.

Competition for highly skilled personnel, particularly employees with technical and engineering skills, is frequently intense, principally in U.S. tech hubs such as the San Francisco Bay Area, Seattle and Austin. We are limited in our ability to recruit global talent by U.S. immigration laws, including those related to H-1B visas. The demand for H-1B visas to fill highly-skilled IT and computer science jobs is greater than the number of H-1B visas available each year. In addition, immigration laws may be modified to further limit the availability of H-1B visas. If a new or revised, more restrictive, visa program is implemented, it may impact our ability to recruit, hire and retain qualified skilled personnel, which could adversely impact our business, operating results and financial condition.

**Financial Risks**

***Our quarterly and annual operating results may be adversely affected due to a variety of factors, which could make our future results difficult to predict and could cause our operating results to fall below investor or analyst expectations.***

Our quarterly and annual operating results and key metrics have varied from period to period in the past, and may fluctuate in the future as a result of a number of factors, many of which are outside of our control, including, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to continue to increase sales to new and existing customers;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the timing and success of introductions of new products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in the growth rate of small businesses and ventures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in renewal rates for our subscriptions and our ability to sell additional products to existing customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• higher than expected refunds to our customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the timing of revenue recognition relative to the recording of the related expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any negative publicity or other actions which harm our brand;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the timing of our marketing expenditures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the mix of products sold and our use of "freemium" promotions and free trials for those products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to maintain a high level of personalized customer care and resulting customer satisfaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• competition in the market for our products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to expand internationally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in interest rates or foreign currency exchange rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• rapid technological change, frequent new product introductions and evolving industry standards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to implement new financial and other administrative systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or perceived cyber attacks or other incidents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• systems, data center and Internet failures, breaches and service interruptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actions by foreign governments that reduce access to the Internet for their citizens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in or increases to U.S. or foreign regulations or regulations by governments or multi-governmental organizations, that could impact one or more of our product offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes to regulatory bodies, such as the Internet Corporation for Assigned Names and Numbers (ICANN);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a delay in the authorization of new TLDs by ICANN or our ability to secure operator rights for new TLDs, both of which would impact the breadth of our customer offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any changes in industry rules restricting our ability to hold domains for sale on the aftermarket;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• shortcomings in, or misinterpretations of, our metrics and data which cause us to fail to anticipate or identify market trends;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• terminations of, disputes with, or material changes to our relationships with third-party partners, including referral sources, product partners and payment processors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reductions in the selling prices for our products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• costs and integration issues associated with acquisitions we may make;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in legislation affecting our collection of indirect taxes both in the U.S. and in foreign jurisdictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in legislation affecting exposure to liability resulting from actions of our customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increases in rates of failed sales on our aftermarket platform for transactions in which we act as the primary obligor, resulting in higher than expected domain portfolio assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• timing of expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• macroeconomic conditions and the related impact on the worldwide economy, including the effects of inflation, deflation or a recession, tariffs and trade policy changes, geopolitical conflict or other adverse economic conditions;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• threatened or actual litigation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• loss of key employees.

Any of the factors above, or the cumulative effect of multiple factors, may result in significant fluctuations in our quarterly or annual operating results, including fluctuations in our key financial and operating metrics, our ability to forecast those results and our ability to achieve those forecasts. This variability and unpredictability could result in our failing to meet our revenue, bookings or operating results expectations or those of securities analysts or investors for any period. In addition, a portion of our operating expenses are fixed in nature and based on forecasted revenue and bookings trends. Accordingly, in the event of revenue or bookings shortfalls, we may generally be unable to mitigate with commensurate reductions in operating expenses in the short term, which could adversely impact our operating results.

We release guidance in our quarterly earnings conference calls, quarterly earnings releases, or otherwise, based on forecasts by management, which are necessarily speculative in nature. Our guidance may vary materially from actual results for a variety of reasons. If our revenue, bookings or other operating results, or the rate of growth of our revenue, bookings or operating results, fall below the expectations of our investors or securities analysts, or below any forecasts or guidance we may provide to the market, or if the forecasts we provide to the market are below the expectations of analysts or investors, the price of our common stock could decline substantially. Such a stock price decline could occur even when we have met our own or other publicly stated financial forecasts. Our failure to meet our own or other publicly stated financial forecasts, or failure to meet securities analyst or investor expectations even when we meet our own forecasts, could cause our stock price to decline and expose us to lawsuits, including securities class action suits. Such litigation could impose substantial costs and divert management's attention and resources.

***We may not be able to maintain profitability in the future.***

We had net income of $937 million, $1,376 million and $353 million for the years ended December 31, 2024, 2023 and 2022 respectively. While we have experienced revenue growth over these periods, we may not be able to sustain or increase our growth or maintain profitability in the future or on a consistent basis. We have in the past, and may in the future, experience lower growth rates in customer demand due to factors including inflation, foreign currency headwinds and other factors that may not be known to us at this time. We have incurred substantial expenses and expended significant resources to market, promote and sell our products. We also expect to continue to invest for future growth and to expand our product offerings. In addition, as a public company, we expect to continue to incur significant accounting, legal and other expenses in the future. Furthermore, we have incurred in recent periods, and may incur in future periods, large expenses which are not recurring, but which nonetheless negatively impact our operating results.

As a result of our increased expenditures, we have needed and expect to continue to need to generate and sustain increased revenue to maintain future profitability. Maintaining profitability will also require that we manage our cost structure and avoid significant liabilities. In the future, our revenue growth may slow or decline, or we may incur significant losses for any reason, including deteriorating general macroeconomic conditions, increased competition, a decrease in the growth of the markets in which we operate or have business, or if we fail for any reason to continue to capitalize on growth opportunities. Additionally, we may encounter unforeseen operating expenses, difficulties, complications, delays and other unknown factors that may result in losses in future periods. If these losses exceed our expectations or our revenue growth expectations are not met in future periods, our financial performance will be harmed and our stock price could be volatile or decline.

***Because we are generally required to recognize revenue for our products over the term of the applicable agreement, changes in our sales may not be immediately reflected in our operating results.***

As described in Note 2 to our audited financial statements, we generally recognize revenue from our customers ratably over the respective terms of their subscriptions in accordance with generally accepted accounting principles in the U.S. (GAAP). Our subscriptions can range from monthly terms to multi-annual terms of up to ten years, depending on the product. Accordingly, increases in sales during a particular period do not translate into immediate, proportional increases in revenue during such period, and a substantial portion of the revenue we recognize during a quarter is derived from deferred revenue from customer subscriptions we entered into during previous quarters. Conversely, a decline in new or renewed subscriptions in any one quarter may not be reflected in our revenue for that quarter and the existence of substantial deferred revenue may prevent deteriorating sales activity from becoming immediately observable in our statements of operations. In addition, we may not be able to adjust spending in a timely manner to compensate for any unexpected sales shortfall, and any significant shortfall relative to planned expenditures could negatively impact our business and results of operations.

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***Unanticipated changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our operating results and financial condition.***

We are subject to income taxes in the U.S. and various foreign jurisdictions, and our domestic and international tax liabilities will be subject to the allocation of expenses in differing jurisdictions. Significant judgment is required in determining our global provision for income taxes, DTAs or deferred tax liabilities (DTLs) and in evaluating our tax positions worldwide. While we believe our tax positions are consistent with the tax laws in the jurisdictions in which we conduct our business, it is possible these positions may be contested or overturned by jurisdictional tax authorities, which may have a significant impact on our global provision for income taxes. Tax laws are dynamic and subject to change as new laws are passed and new interpretations of existing laws are issued or applied. Numerous countries have agreed to a statement in support of the Organization for Economic Co-operation and Development (OECD) model rules that propose a global minimum tax rate of 15% for companies with revenue above €750 million, calculated on a country-by-country basis, and E.U. member states have agreed to implement the global minimum tax. Certain countries have enacted or are expected to enact legislation to be effective in 2024, with widespread implementation of a global minimum tax expected by 2025. We are unable to predict when and how such rules will be enacted into law in these countries; however, it is possible that the implementation of relevant legislation could have a material effect on our liability for taxes. We will continue to monitor pending legislation and implementation by individual countries and evaluate the potential impact on our business in future periods.

Our future effective tax rates could be subject to volatility or adversely affected by several factors, including: (i) changes in the valuation of our DTAs and DTLs; (ii) tax effects of equity-based compensation; (iii) costs related to intercompany restructurings; (iv) changes in tax laws, regulations or interpretations thereof; and (v) future earnings being lower than anticipated in countries where we have lower statutory tax rates and higher than anticipated earnings in countries where we have higher statutory tax rates.

In addition, we may be subject to audits of our income, sales and other transaction taxes by federal and state and foreign tax authorities. Outcomes from these audits could have an adverse effect on our operating results and financial condition.

***Our level of indebtedness could adversely affect our financial condition, our ability to raise additional capital to fund our operations, our ability to operate our business and our ability to react to changes in the economy or our industry, as well as divert our cash flow from operations for debt payments and prevent us from meeting our debt obligations.***

We have incurred indebtedness, including our Credit Facility and Senior Notes, and may incur additional indebtedness in the future. Our level of indebtedness now and in the future could have a material adverse effect on our business and financial condition, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• requiring a substantial portion of cash flow from operations to be dedicated to the payment of principal and interest on our indebtedness, thereby reducing our ability to use our cash flow to fund our operations and capital expenditures and pursue future business opportunities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increasing our vulnerability to adverse economic, industry or competitive developments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exposing us to increased interest expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• making it more difficult for us to satisfy our obligations with respect to our indebtedness, including restrictive covenants, which could result in a default accelerating our obligations to repay indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• restricting us from making strategic acquisitions and/or redeeming or repurchasing shares of our capital stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• limiting our ability to obtain additional financing in the future; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• limiting our flexibility in planning for, or reacting to, changes in our business or market conditions, which could place us at a competitive disadvantage compared to our competitors who may be better positioned to take advantage of opportunities our leverage prevents us from exploiting.

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***The agreements governing our indebtedness impose significant operating and financial restrictions on us and our subsidiaries, which may prevent us from capitalizing on business opportunities and making payments on our indebtedness.***

The agreements governing our indebtedness, including our Credit Facility and the Senior Notes, impose significant operating and financial restrictions on us. These restrictions limit the ability of our subsidiaries, and effectively place restrictions on our own ability to, among other things: incur or guarantee additional debt or issue disqualified equity interests; pay dividends and make other distributions on, or redeem or repurchase, capital stock; prepay, redeem or repurchase certain junior debt; make certain investments; incur certain liens; enter into transactions with affiliates; merge, consolidate or make certain other fundamental changes; enter into agreements restricting the ability of restricted subsidiaries to make certain intercompany dividends, distributions, payments or transfers; and transfer or sell assets. In addition, our Credit Facility requires us to comply with a specified leverage ratio under certain circumstances.

Our ability to comply with these provisions may be affected by events beyond our control, and these provisions could limit our ability to plan for or react to market conditions, meet capital needs or otherwise conduct our business. There can be no assurance that we will be able to comply with current or additional covenants in the future and, if we fail to do so, that we will be able to obtain waivers from the applicable lenders or holders or amend the covenants. Our failure to comply with current or future restrictive covenants or other current or future terms of indebtedness could result in a default, which, if not cured or waived, could result in our being required to repay these borrowings before their due date.

***We may need additional equity, debt or other financing in the future, which we may not be able to obtain on acceptable terms, or at all, and any additional financing may result in restrictions on our operations or substantial dilution to our stockholders.***

We may need to raise funds in the future to, among other things, develop new technologies, expand our business, respond to competitive pressures, refinance our existing indebtedness or make acquisitions or other strategic arrangements. We may try to raise additional funds through public or private financings, strategic relationships or other arrangements or by refinancing our existing indebtedness.

Our ability to obtain any additional financing will depend on a number of factors, such as market conditions, our operating performance, investor interest and, in the case of debt financing, our then-current debt levels, expected debt amortization, interest rates and our credit rating. Volatility in the credit markets, including the U.S. Federal Reserve Bank's actions and implementation of varying interest rates to combat inflation in the U.S., may have an adverse effect on our ability to obtain debt financing. Our credit rating may also be affected by our liquidity, financial results, economic risk or other factors, which may increase the cost of future financings. Any additional financing may not be available to us on acceptable terms or at all. If financing is not available, we may be required to reduce expenditures, including curtailing our growth strategies, forgoing acquisitions or reducing our product development efforts. If we succeed in raising additional funds through the issuance of equity or equity-linked securities, then existing stockholders could experience substantial dilution. If we raise additional funds through the issuance of debt securities or preferred stock, these new securities would have rights, preferences and privileges senior to those of the holders of our Class A common stock. In addition, any such issuance could subject us to restrictive covenants relating to our capital raising activities and other financial and operational matters, which may make it more difficult for us to obtain additional capital, respond to competitive pressures and pursue business opportunities, including potential acquisitions. Further, to the extent we incur additional indebtedness or other such obligations, the risks associated with our significant debt described below, including our possible inability to service our debt, would increase. Additionally, events and circumstances may occur that could cause us to not be able to satisfy applicable draw-down conditions and utilize our revolving line of credit. Although the agreements governing our indebtedness contain restrictions on our incurrence of additional indebtedness and entry into certain types of transactions, these restrictions are subject to a number of qualifications and exceptions, and we may choose to amend such agreements and the applicable restrictions from time to time (with the consent of the requisite lenders or holders), which may allow us to incur additional indebtedness that could be substantial.

***We may be required to repurchase the Senior Notes and the maturity of our Credit Facility may be accelerated upon a change of control triggering event.***

Holders of the Senior Notes can require us to repurchase the Senior Notes upon a change of control of our company. Our ability to repurchase the Senior Notes may be limited by law or the terms of other agreements relating to our indebtedness. In addition, we may not have sufficient funds to repurchase the Senior Notes or have the ability to arrange necessary financing on acceptable terms, if at all. A change of control of our company may also constitute a default under, or result in the acceleration of the maturity of, our other then-existing indebtedness, including our Credit Facility. Our failure to repurchase the Senior Notes

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would result in a default under the Senior Notes, which may result in the acceleration of the Senior Notes and other then-existing indebtedness, including our Credit Facility. We may not have sufficient funds to make any payments triggered by such acceleration, which could result in foreclosure proceedings and our seeking protection under the U.S. bankruptcy code.

**Legal and Regulatory Risks**

***Laws, regulations, policies or claims concerning the domain name registration system and the Internet in general, and industry reactions to those policies or claims, may cause instability in the industry and disrupt our business.***

ICANN is a multi-stakeholder, private sector, not-for-profit corporation formed in 1998 for the express purposes of overseeing a number of Internet related tasks, including managing the DNS allocation of IP addresses, accreditation of domain name registrars and registries and the definition and coordination of policy development for these functions. We are accredited by ICANN as a domain name registrar and thus our ability to offer domain name registration products is subject to our ongoing relationship with, and accreditation by, ICANN. Further, our generic top-level domain registry business is based on contracts with ICANN, per TLD, and therefore, is subject to existing requirements and any changes to those requirements made in those contracts. ICANN has been subject to strict scrutiny by the public and governments around the world, as well as multi-governmental organizations such as the United Nations, with many of those bodies becoming increasingly interested in Internet governance. If ICANN is not seen as adequately responsive to stakeholder concerns, governments around the world may decide to implement regulatory frameworks independent of ICANN, leading to a fragmentation of the domain name registration system, which could negatively affect our operations and financial results.

Additionally, we continue to face the following possibilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the structure and accountability mechanisms contained in the Bylaws for ICANN, as amended on November 17, 2023, are not fully tested, which may result in ICANN not being accountable to its stakeholders and unable to make, implement or enforce its policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Internet community, key commercial industry participants, the U.S. government or other governments may (i) refuse to recognize ICANN's authority or support its policies, (ii) attempt to exert pressure on ICANN, or (iii) enact laws in conflict with ICANN's policies, each of which could create instability in the domain name registration system;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• governments, via ICANN's Governmental Advisory Committee, may seek greater influence over ICANN policies and contracts with registrars and may advocate changes that may adversely affect our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the terms of the Registrar Accreditation Agreement (RAA) under which we are accredited as a registrar or the Registry Agreement (RA) under which we are accredited as a registry, could change in ways that are disadvantageous to us or under certain circumstances could be terminated by ICANN, thereby preventing us from operating our registrar or registry service, or ICANN could adopt unilateral changes to the RAA or RA that are unfavorable to us, that are inconsistent with our current or future plans, or that affect our competitive position;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• international regulatory or governing bodies, such as the International Telecommunication Union, a specialized agency of the United Nations, or the E.U., may gain increased influence over the management and regulation of the domain name registration system, leading to increased regulation in areas such as taxation, privacy, data protection, cybersecurity and the monitoring of our customers' hosted content;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ICANN or any TLD operators may implement policy changes impacting our ability to run our current business practices throughout the various stages of the lifecycle of a domain name;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the U.S. Congress or other legislative bodies in the U.S. could take action unfavorable to us, influencing customers to move their business from our products to those located outside the U.S.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the U.S. Congress or other legislative bodies in the U.S. could adopt regulations that are in direct conflict with other jurisdictions (e.g., the E.U.), which could fragment our platform and product offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the U.S. Congress or other legislative bodies in the U.S. or in other countries could adopt laws that erode the safe harbors from third-party liability in the CDA (Section 230) and the Digital Millennium Copyright Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ICANN could fail to maintain its role, potentially resulting in instability in DNS services administration and operation;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our business as a vertically integrated operation of a registrar and registry could lead to increased regulatory scrutiny;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ICANN, TLD operators, governments and governmental authorities may impose requirements for verification of domain name registrant information that are inconsistent with our current business practices or that result in inconsistency among industry participants, including but not limited to changes under the E.U. NIS2 Directive being transposed into member state law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ICANN, TLD operators, governments and governmental authorities may impose requirements for, or prohibit, the registration of domain names containing certain words or phrases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• some governments and governmental authorities outside the U.S. have in the past disagreed, and may in the future disagree, with the actions, policies or programs of ICANN and TLD operators relating to the DNS, which could fragment the single, unitary Internet into a loosely-connected group of one or more networks, each with different rules, policies and operating protocols;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• multi-party review panels established by ICANN's bylaws may take positions unfavorable to our business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in ICANN leadership could introduce uncertainty that could delay or postpone programs, such as the next round of new generic TLD (gTLD) applications, and that could have a material impact on our business.

If any of these events occur, they could create instability in the domain name registration system and may make it difficult for us to continue to offer existing products and introduce new products, or serve customers in certain international markets. These events could also disrupt or suspend portions of our domain name registration product and subject us to additional restrictions on how the registrar and registry products businesses are conducted, which would result in reduced revenue.

In addition, due to changes in privacy and data protection laws, rules and regulations around the world, ICANN and its stakeholders have modified their policies, procedures and contracts related to how registrars collect, store, transmit, publish or otherwise process the personal information of domain name registrants in publicly accessible WHOIS directories. We continue to work with ICANN and our industry counterparts to reconcile conflicts and inconsistencies with such laws, rules and regulations. If ICANN is unable to maintain policies, procedures and contracts consistent with applicable privacy and data protection laws and regulations, our efforts to comply with applicable laws may cause us to violate our existing ICANN contractual obligations. As a result, we could experience difficulties in selling domain name registrations and keeping our existing customer domain names under management, which could have a material adverse effect on our operations and revenue.

***ICANN periodically authorizes the introduction of new TLDs. A delay in access to new TLDs could adversely impact our business, results of operations and reputation.***

ICANN has periodically authorized the introduction of new TLDs and made domain names related to them available for registration. In 2012, ICANN significantly expanded the number of gTLDs through the first application round of the Expansion Program. This resulted in the delegation of new gTLDs in 2014. ICANN has introduced a new gTLD program, Next Round, which is expected to open in the second quarter of 2026 upon completion of the policy implementation work.

Our competitive position depends in part on our ability to gain access to these new TLDs. A significant portion of our business relies on our ability to sell domain name registrations to our customers, and any limitations on our access to newly created TLDs could adversely impact our ability to sell domain name registrations to customers, and thus could adversely impact our business. Furthermore, GoDaddy Registry is also impacted by delays of future gTLD application rounds. Although we expect to continue to sell and pursue operator rights for new gTLDs as they are introduced, our ability to obtain these rights, gain contracts to provide backend registry services, or sell new domain name registrations to our customers may be adversely impacted if the Expansion Program does not continue, or if, when continued, we are unable to obtain these rights or gain these contracts our business and the financial and operational aspects of our business may be harmed. In addition, if the Next Round is delayed as a result of the timing of the policy implementation work, or is not opened in the future at all, the reputation of the industry and our business and the financial and operational aspects of our business may be harmed.

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***The relevant domain name registry and ICANN impose a charge upon each registrar for the administration of each domain name registration. If these fees increase, it would have a significant impact upon our operating results.***

Each registry typically imposes a fee in association with the registration of a domain name. For example, VeriSign, the registry for .com and .net, has a current annual list prices of $10.26 and $11.66 for .com and .net registrations, respectively, and ICANN charges $0.18 for most domain names registered in the gTLDs within its purview. Effective July 1, 2025, ICANN's annual fee will increase to $0.20. In addition, VeriSign, which operates the .com and .net gTLDs under registry agreements with ICANN and, with respect to the .com gTLD, a Cooperative Agreement with the U.S. Department of Commerce, has previously been given the right to annually increase prices, subject to certain limitations, and has done so in recent years, including to the current list price of $10.26. If fees continue to increase, costs to our customers could become higher, which could have an adverse impact on our results of operations. We have no control over ICANN, VeriSign or other domain name registries and cannot predict their future fee structures.

While we do not currently do so, we have the discretion to impose service fees on our customers in the future. In addition, pricing of new gTLDs is generally not set or controlled by ICANN, which in certain instances has resulted in aggressive price increases on certain particularly successful new gTLDs. The increase in these fees with respect to any new gTLD either must be included in the prices we charge to our customers, imposed as a surcharge or absorbed by us. If we absorb such cost increases or if surcharges result in decreases in domain registrations, our business, operating results and financial performance may be adversely affected.

***We are subject to local and international laws, rules, regulations, and orders relating to the operation and security of our computer network and the processing of data, including privacy of personal data.*** 

Our operations depend on the operation of our network and processing of data internationally, including the movement of data across national boundaries. The laws, rules, regulations and orders concerning cybersecurity and processing of data are evolving and may be interpreted and applied inconsistently, and may conflict with one another, with other regulatory requirements, or with our own internal policies and procedures. Any failure or perceived failure by us to comply with U.S. or international laws and regulations relating to cybersecurity and processing of data (or our failure or perceived failure to comply with our own internal policies and procedures) may result in litigation, government enforcement actions, or reputational harm.

We are subject to a variety of U.S. and international privacy and data protection laws, rules, regulations, and orders (such as the EU General Data Protection Regulation and California Consumer Privacy Act) that provide our customers and other individuals with certain rights relating to the processing of their personal data. In addition, a growing and evolving body of U.S. and international laws affect how we may process personal data for various purposes, including online advertising and targeted marketing. These evolving laws may increase our costs and limit our ability to use personal data for new products, including but not limited to products that rely on AI-related technologies.

We entered into an agreement, which was approved by the FTC on May 21, 2025, to settle FTC charges related to certain of our security practices, advertising and other related matters. Pursuant to the settlement agreement and related order, GoDaddy is required to comply with specific requirements, including those related to the security of our hosting services, for at least 20 years. If we fail to comply with the final order's terms, we could be subject to FTC investigation, litigation, or reputational harm. We have invested and continue investments to help improve security of our systems and have begun implementing the requirements contained in the proposed order. See Note 12 to our financial statements.

Existing and new laws, rules, regulations and orders relating to the security of our networks and data processing may cause us to incur additional compliance costs or limit our ability to provide certain of our products or services in some jurisdictions. For example, we expect to incur additional costs relating to new cybersecurity requirements in the E.U. pursuant to NIS2, which is currently being transposed into E.U. member state law.

We also must comply with a growing body of laws, rules, regulations and orders governing the transfer of data, including personal data, across territorial boundaries. For example, the GDPR restricts the transfer of personal data from the E.U. to the U.S. and other countries that are not deemed to have implemented adequate data protection measures. We use a variety of legal transfer mechanisms to transfer personal data from the E.U. to the U.S., including standard contractual clauses (SCCs) and the E.U.-U.S. Data Privacy Framework. However, the use of SCCs and the E.U.-U.S. Data Privacy Framework is subject to ongoing review and litigation in the E.U., and we cannot guarantee that we will be able to continue to rely on these or other transfer mechanisms to transfer personal data from the E.U. to the U.S.

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If our cybersecurity and data processing measures fail to comply with (or are perceived to have failed to comply with) current or future laws, regulations, policies, legal obligations, industry standards or any applicable government orders, we may be subject to litigation and/or regulatory investigations and may incur fines or other liabilities, and loss of business. In addition, future laws, rules, regulations, and legal obligations may limit our customers' ability to use our services to process data (including personal data), which could reduce demand for our products and harm our business, operating results, and financial condition.

***We are subject to international laws, rules and regulations relating to content moderation.***

Various jurisdictions have enacted laws that impose requirements related to content moderation, transparency and advertising practices. For example, the European Union's Digital Services Act (DSA) includes provisions related to notice obligations, advertising restrictions and content moderation processes. Other frameworks, such as Germany's NetzDG and the UK's Online Safety Act (OSA), also establish requirements related to the handling of online content. These and similar regulatory regimes may subject us and certain of our services to additional oversight, including audits and reporting requirements, and non-compliance could result in enforcement measures or fines. In addition, aspects of the DSA, OSA and other new and emerging laws concerning content moderation and transparency, including at the state and federal levels in the U.S., remain unclear and we may be required to modify our policies and practices further in an effort to comply with them.

***Activities of customers or the content of their websites could damage our reputation and brand or harm our business and financial results.***

As a result of the products and services we offer, we may be subject to liability and negative publicity due to our customers' activities on or in connection with their domain names, their websites or the data they store on our servers. In addition, as we expand our social media management and professional web services, we may be subject to liability for content we create on behalf of our customers. Although our terms of service prohibit the illegal use of our products by our customers and permit us to take down or suspend websites or take other appropriate actions in response to illegal uses (among other reasons), customers may nonetheless engage in prohibited activities or upload or store content on our products in violation of applicable law, our agreement or policies, or the customer's own policies, which could subject us to liability. Furthermore, our reputation and brand may be negatively impacted by customer actions and website content that are deemed hostile, offensive or inappropriate. We do not proactively monitor or review the appropriateness of the domain names our customers register or the content of their websites, and we do not have control over customer activities. The safeguards we have in place may not be sufficient to avoid harm to our reputation and brand, especially if such hostile, offensive or inappropriate customer content is high profile or misinterpreted as content supported by us. In addition, other bodies of law, including state criminal laws, may be deemed to apply or new statutes or regulations may be adopted in the future, any of which could expose us to further liability and increase our costs of doing business.

Several U.S. federal statutes may apply to us with respect to various activities of our customers, including the Anti-Cybersquatting Consumer Protection Act (ACPA), which provides recourse for trademark owners against cybersquatters, the Digital Millennium Copyright Act (DMCA), which provides recourse for owners of copyrighted material who believe their rights under U.S. copyright law have been infringed on the Internet, and the Communications Decency Act (CDA), which addresses blocking and screening of content on the Internet. Although these and other similar laws, rules and regulations provide limited protections from liability for providers like us, those protections may not be interpreted in a way that applies to us, may be amended or removed in the future, or may not provide us with complete protection from applicable claims. If we are found not to be protected by the safe harbor provisions of these laws, rules and regulations or if we are deemed subject to laws in other countries that may not have the same protections or that may impose more onerous obligations on us, we may owe substantial damages and our brand, reputation, and financial results may be harmed.

Notwithstanding the exculpatory language of these bodies of law, the activities of our customers have resulted in, and may in the future result in, threatened or actual litigation against us. Although the ACPA, DMCA, CDA and relevant U.S. case law have generally shielded us from liability for customer activities to date, court rulings in pending or future litigation or future regulatory or legislative amendments may narrow the scope of protection afforded us under these laws. Additionally, neither the DMCA nor the CDA generally provides protection from claims of trademark violations and therefore, do not shield us from liability for claims under the Lanham Act or other similar laws. Furthermore, there have been, and continue to be, various Congressional and executive efforts to remove or restrict the scope of the protections available under Section 230 of the CDA, which if successful could decrease our current protections from liability for third-party content and increase our litigation costs. For example, the Stop Enabling Sex Traffickers Act and the Allow States and Victims to Fight Online Sex Trafficking Act may limit the immunity previously available to us under the CDA, which could subject us to investigations or penalties if our customers' activities are deemed illegal or inappropriate. Furthermore, the DSA, could negatively impact the scope of the limited

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immunity provided by the E-Commerce Directive in the E.U. If claims brought against us under these or similar laws are successful, our business and operating results could be adversely affected, and even if the claims do not result in litigation or are resolved in our favor, these claims, and the time and resources necessary to resolve them, could divert the resources of our management and adversely affect our business and operating results.

Additionally, in May 2025, the federal government enacted the 'Take It Down Act,' which establishes mandatory takedown procedures for non-consensual intimate images and other specified content. Under the act, online platforms and service providers may be required to respond to verified takedown requests from individuals and remove or restrict access to such content. Failure to comply with these obligations could subject us to civil liability, fines or regulatory enforcement. Moreover, because we do not pre-screen customer content, we may face challenges in meeting the compliance timelines or verification obligations set forth in the act, particularly if customer content is stored on distributed systems or served via third-party integrations.

***Our business depends on our customers' continued and unimpeded access to the Internet and the development and maintenance of Internet infrastructure. Internet access providers may be able to block, degrade or charge for access to certain of our products, which could lead to additional expenses and the loss of customers.***

Our products depend on the ability of our customers to access the Internet. Currently, this access is provided by companies having significant market power in the broadband and Internet access marketplace, including incumbent telephone companies, cable companies, mobile communications companies and government-owned service providers. Some of these providers can take measures including legal actions, which could degrade, disrupt or increase the cost of user access to certain of our products by restricting or prohibiting the use of their infrastructure to support our offerings, charging increased fees to our users to provide our offerings, or regulating online speech. In some jurisdictions, such as China, our products and services may be subject to government-initiated restrictions, fees or blockages. Such interference could result in a loss of existing users, advertisers and goodwill or increased costs, or could impair our ability to attract new users, thereby harming our revenue and growth. Moreover, the adoption of any laws, rules or regulations adversely affecting the growth, popularity or use of the Internet, could decrease the demand for our products and increase our operating costs. The legislative and regulatory landscape regarding the regulation of the Internet and, in particular, Internet neutrality, in the U.S. is subject to uncertainty.

To the extent any laws, regulations or rulings permit Internet service providers to charge some users higher rates than others for the delivery of their content, Internet service providers could attempt to use such laws, regulations or rulings to impose higher fees or deliver our content with less speed, reliability or otherwise on a non-neutral basis as compared to other market participants, and our business could be adversely impacted. Internationally, government regulation concerning the Internet, and in particular, network neutrality, may be developing or non-existent. Within such a regulatory environment, we could experience discriminatory or anti-competitive practices impeding both our and our customers' domestic and international growth, increasing our costs or adversely affecting our business. Additional changes in the legislative and regulatory landscape regarding Internet neutrality, or otherwise regarding the regulation of the Internet, could harm our business, operating results and financial condition.

***Our business could be affected by new governmental regulations regarding the Internet.***

The legal and regulatory environment relating to the Internet is uncertain, and governments may impose additional regulation in the future. New laws may be passed, courts may issue decisions affecting the Internet, existing but previously inapplicable or unenforced laws may be deemed to apply to the Internet or regulatory agencies may begin to more rigorously enforce such formerly unenforced laws, or existing legal safe harbors may be narrowed, both by U.S. federal or state governments and by governments of foreign jurisdictions. The adoption of any new laws, rules or regulations, or the narrowing of any safe harbors, could hinder growth in the use of the Internet and online services generally, and decrease acceptance of the Internet and online services as a means of communications, e-commerce and advertising. In addition, such changes in laws could increase our costs of doing business or prevent us from delivering our services over the Internet or in specific jurisdictions, which could harm our business and our results of operations.

***From time to time, we are involved in lawsuits, including class action lawsuits, which are expensive and time consuming and could adversely affect our business, financial condition and results of operations.***

We are, and from time to time we may become, subject to litigation and various legal proceedings, including litigation and proceedings related to employment matters, intellectual property matters, commercial disputes, antitrust and privacy and consumer protection laws, as well as stockholder derivative suits, class action lawsuits, mass arbitration and other matters. For example, we have faced, and may continue to face in the future, claims related to the Fair Labor Standards Act, the Telephone

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Consumer Protection Act, and the Americans with Disabilities Act (and similar federal, state and international consumer protection statutes, including the Brazil Consumer Protection Code). We have also been involved in putative class action lawsuits, including lawsuits alleging violations of the Telephone Consumer Protection Act. Class action plaintiffs in particular often seek substantial statutory damages and attorneys' fees, and demand changes to our products, features or business practices. Although the results of any such current or future litigation, regardless of the underlying nature of the claims, cannot be predicted with certainty, the final outcome of any current or future claims or lawsuits we face could adversely affect our business, financial condition and results of operations. Any negative outcome from claims or litigation, including settlements, could result in payment of substantial monetary damages or fines, attorneys' fees or costly and significant and undesirable changes to our products, features, marketing efforts or business practices. As we have expanded our international business, we have experienced an increase in litigation occurring outside of the U.S., due in part to consumer-friendly laws, rules and regulations in certain countries and legal systems with limited experience with claims related to the domain industry. Defending such litigation is costly and time consuming. The outcome of such litigation may not be the same as similar litigation in the U.S., which may have an adverse effect on our business, financial condition and results of operations.

Further, claims or litigation brought against our customers or business partners may subject us to indemnification obligations or obligations to refund fees to, and adversely affect our relationships with, our customers or business partners. Such indemnification or refund obligations or litigation judgments or settlements that result in the payment of substantial monetary damages, fines and attorneys' fees may not be sufficiently covered by our insurance policies, if at all. We evaluate litigation claims and legal proceedings to assess the likelihood of unfavorable outcomes and to estimate, if possible, the amount of potential losses. Based on these assessments and estimates, we may establish reserves and/or disclose the relevant litigation claims or legal proceedings, as and when required or appropriate. These assessments and estimates are based on information available to management at the time of such assessment or estimation and involve a significant amount of judgment. As a result, actual outcomes or losses could differ materially from those envisioned by our current assessments and estimates. Our failure to successfully defend or settle any of these litigation claims or legal proceedings could result in liability that, to the extent not covered by our insurance, could have an adverse effect on our business, financial condition, and results of operations. See "Item 3—Legal Proceedings."

In addition, during the course of any litigation, regardless of its nature, there could be public announcements of the results of hearings, motions, preliminary rulings or other interim proceedings or developments. If securities analysts or investors perceive these results to be negative, it could have a substantially adverse effect on the trading price of our Class A common stock. Regardless of the merit of claims asserted against us, claims are generally time-consuming and costly to evaluate and ultimately defend, and can impose a significant burden on management and employees. Further, because of the, at times, substantial amount of discovery required in connection with litigation, there is a risk that some of our confidential business or other proprietary information could be compromised by disclosure.

***Failure to adequately protect and enforce our intellectual property rights could substantially harm our business and operating results.***

The success of our business depends in part on our ability to protect and enforce our patents, trademarks, copyrights, trade secrets and other intellectual property rights. We attempt to protect our intellectual property under patent, trademark, copyright and trade secret laws, and through a combination of confidentiality procedures, contractual provisions and other methods, all of which offer only limited protection.

As of June 30, 2025, we had 358 issued patents in the U.S. and other countries covering various aspects of our product offerings. Additionally, as of June 30, 2025, we had 10 pending U.S. and international patent applications and intend to file additional patent applications in the future. The process of obtaining patent protection is expensive and time-consuming, and we may not be able to prosecute all necessary or desirable patent applications at a reasonable cost or in a timely manner. We may choose not to seek patent protection for certain innovations or in certain jurisdictions, and may choose to abandon patents that are no longer of strategic value to us, in each case even if those innovations have financial value to us. In addition, under the laws of certain jurisdictions, patents or other intellectual property rights may be unavailable or limited in scope. Furthermore, it is possible that our patent applications may not issue as granted patents, that the scope of our issued patents will be insufficient or not have the coverage originally sought, that our issued patents will not provide us with any competitive advantages, and that our patents and other intellectual property rights may be challenged by others or invalidated through administrative processes or litigation. In addition, issuance of a patent does not assure that we have an absolute right to practice the patented invention, or that we have the right to exclude others from practicing the claimed invention. As a result, we may not be able to obtain adequate patent protection or to enforce our issued patents effectively.

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In addition to patented technology, we rely on our unpatented proprietary technology and confidential proprietary information, including trade secrets and know-how. Despite our efforts to protect the proprietary and confidential nature of such technology and information, unauthorized parties may attempt to misappropriate, reverse engineer or otherwise obtain and use them. The contractual provisions in confidentiality agreements and other agreements we generally enter into with employees, consultants, partners, vendors and customers may not prevent unauthorized use or disclosure of our proprietary technology or intellectual property rights and may not provide an adequate remedy in the event of unauthorized use or disclosure of our proprietary technology or intellectual property rights. Moreover, policing unauthorized use of our technologies, products and intellectual property rights is difficult, expensive and time-consuming, particularly in foreign countries where the laws may not be as protective of intellectual property rights as those in the U.S. and where mechanisms for enforcement of intellectual property rights may be weak. To the extent we expand our international activities, our exposure to unauthorized copying and use of our products and proprietary information may increase. We may be unable to determine the extent of any unauthorized use or infringement of our products, technologies or intellectual property rights.

As of June 30, 2025 we had 578 registered and 44 pending trademarks in jurisdictions including the U.S., E.U., UK, China and Germany; we have also filed a trademark application for Airo. We have also registered, or applied to register, the trademarks associated with several of our leading brands in the U.S. and in certain other countries, including for our logo launched in January 2020, the "Go." Competitors and others may have adopted, and in the future may adopt, tag lines or service or product names similar to ours, which could impede our ability to build our brands' identities and possibly lead to confusion. In addition, there could be potential trade name or trademark infringement claims brought by owners of other registered and common law trademarks or trademarks incorporating variations of the terms or designs of one or more of our trademarks and opposition filings made when we apply to register our trademarks.

From time to time, legal action by us may be necessary to enforce our patents, trademarks and other intellectual property rights, to protect our trade secrets, to determine the validity and scope of the intellectual property rights of others or to defend against claims of infringement or invalidity. Such litigation could result in substantial costs and diversion of resources, distract management and technical personnel and negatively affect our business, operating results and financial condition. If we are unable to protect our intellectual property rights, we may find ourselves at a competitive disadvantage. Any inability on our part to protect adequately our intellectual property may have a material adverse effect on our business, operating results and financial condition.

***We are involved in intellectual property claims and litigation asserted by third parties and may be subject to additional claims and litigation in the future, which could result in significant costs and substantial harm to our business and results of operations.***

In recent years, there has been significant litigation in the U.S. and abroad involving patents and other intellectual property rights. Companies providing web-based and cloud-based products are increasingly bringing, and becoming subject to, suits alleging infringement of proprietary rights, particularly patent rights. The possibility of intellectual property infringement claims also may increase to the extent we face heightened competition and become more visible. Any claims we assert against perceived infringers could provoke these parties to assert counterclaims against us alleging that we infringe their intellectual property rights. In addition, our exposure to risks associated with the use of intellectual property may increase as a result of acquisitions we make or our use of software licensed from or hosted by third parties, as we have less visibility into the development process with respect to such technology or the care taken to safeguard against infringement risks. Third parties may make infringement and similar or related claims after we have acquired or licensed technology that had not been asserted prior to our acquisition or license. Many companies are devoting significant resources to obtaining patents that could affect many aspects of our business. This may prevent us from deterring patent infringement claims, and our competitors and others may now and in the future have larger and more mature patent portfolios than we have.

We have faced in the past, are currently facing, and expect to face in the future, claims and litigation by third parties that we infringe upon or misappropriate their intellectual property rights. Defending patent and other intellectual property claims and litigation is costly and can impose a significant burden on management and employees, and there can be no assurances that favorable final outcomes will be obtained in all cases. In addition, plaintiffs may seek, and we may become subject to, preliminary or provisional rulings in the course of any such litigation, including potential preliminary injunctions requiring us to cease offering certain of our products or features. We may decide to settle such lawsuits and disputes on terms that are unfavorable to us. Similarly, if any litigation to which we are a party is resolved adversely, we may be subject to an unfavorable judgment that may not be reversed upon appeal. The terms of such a settlement or judgment may require us to cease offering certain of our products or features or pay substantial amounts to the other party. In addition, we may have to seek a license to continue practices found to be in violation of a third party's rights, which may not be available on reasonable terms, or at all, and may significantly

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increase our operating costs and expenses. As a result, we may also be required to develop alternative non-infringing technology or discontinue offering certain products or features. The development of alternative non-infringing technology, products or features could require significant effort and expense or may not be feasible. Our business, financial condition and results of operations could be adversely affected by intellectual property claims or litigation.

***We may face liability or become involved in disputes over registration and transfer of domain names and control over websites.***

As a provider of web-based and cloud-based products, including as a registrar of domain names and related products, we may become aware of disputes over ownership or control of customer accounts, websites or domain names. We could face potential liability for our failure to renew a customer's domain. We could also face potential liability for our role in the wrongful transfer of control or ownership of accounts, websites or domain names. The safeguards and procedures we have adopted may not be successful in insulating us against liability from such claims in the future. Moreover, any future amendment to or court decisions interpreting Section 230 of the CDA may increase our liability and could expose us to civil or criminal liability for the actions of our customers, if we do not effectively detect and mitigate these risks. In addition, we may face potential liability for other forms of account, website or domain name hijacking, including misappropriation by third parties of our customer accounts, websites or domain names and attempts by third parties to operate accounts, websites or domain names or to extort the customer whose accounts, websites or domain names were misappropriated. Furthermore, we are exposed to potential liability as a result of our domain privacy product, whereby the identity and contact details for the domain name registrant are masked. Although our terms of service reserve our right to take certain steps when domain name disputes arise related to our privacy product, including the removal of our privacy service, the safeguards we have in place may not be sufficient to avoid liability, which could increase our costs of doing business.

Occasionally, one of our customers may register a domain name identical, or similar, to a third party's trademark or the name of a living person. These occurrences have in the past led, and may in the future lead, to our involvement in disputes over such domain names. Disputes involving registration or control of domain names are often resolved through the Uniform Domain Name Dispute Resolution Policy (UDRP), ICANN's administrative process for domain name dispute resolution, or less frequently through litigation under the ACPA, or under general theories of trademark infringement or dilution. The UDRP generally does not impose liability on registrars, and the ACPA provides that registrars may not be held liable for registration or maintenance of a domain name absent a showing of the registrar's bad faith intent to profit from the trademark at issue. However, we may face liability if we act in bad faith or fail to comply in a timely manner with procedural requirements under these rules, including forfeiture of domain names in connection with UDRP actions. In addition, domain name registration disputes and compliance with the procedures under the ACPA and UDRP typically require at least limited involvement by us and, therefore, increase our cost of doing business. The volume of domain name registration disputes may increase in the future as the overall number of registered domain names increases. Moreover, as the owner or acquiror of domain name portfolios containing domains we provide for resale, we may face liability if one or more domain names in our portfolios, or our resellers' portfolios, are alleged to violate another party's trademark. Although we screen the domain names we acquire to mitigate the risk of third-party infringement claims, we, or our resellers, may inadvertently register or acquire domains that infringe or allegedly infringe third-party rights. If intellectual property laws diverge internationally or are interpreted inconsistently by local courts, we may be required to devote additional time and resources to enhancing our screening program in international markets. For example, we are involved in a large number of claims in India involving the registration of domain names alleged to incorporate strings of text matching third-party trademarks. While these claims are individually and collectively immaterial, they may require additional time and resources to resolve, and as we expand internationally, we face additional intellectual property claims. Moreover, advertisements displayed on websites associated with domains registered by us may contain allegedly infringing content placed by third parties. We may face liability and increased costs as a result of such third-party infringement claims.

***Our use of open source technology could impose limitations on our ability to commercialize our products.***

We use open source software in our business, including in our products. It is possible that some open source software is governed by licenses containing requirements that we make available source code for modifications or derivative works we create based upon the open source software, and that we license such modifications or derivative works under the terms of a particular open source license or other license granting third parties certain rights of further use. By the terms of certain open source licenses, we could be required to release the source code of our proprietary software, and to make our proprietary software available under open source licenses, if we combine our proprietary software with open source software in certain manners.

Although we monitor our use of open source software in an effort to avoid subjecting our products to conditions we do not intend, we cannot be certain all open source software is reviewed prior to use in our proprietary software, that programmers

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working for us have not incorporated open source software into our proprietary software, or that they will not do so in the future. Any requirement to disclose our proprietary source code or to make it available under an open source license could be harmful to our business, operating results and financial condition. Furthermore, the terms of many open source licenses have not been interpreted by U.S. courts. As a result, there is a risk that these licenses could be construed in a way that could impose unanticipated conditions or restrictions on our ability to commercialize our products. In such an event, we could be required to seek licenses from third parties to continue offering our products, to make our proprietary code generally available in source code form, to re-engineer our products or to discontinue the sale of our products if re-engineering could not be accomplished on a timely basis, any of which could adversely affect our business, operating results and financial condition.

The use of open source software can also present greater risk than the use of third-party commercial software. Open source software is generally offered on an as-is basis and licensors typically do not offer warranties, controls on software origin or development, or remedies against claims. Furthermore, ongoing disputes in the open source community may heighten these risks, potentially creating uncertainty and operational challenges. Many of the inherent risks associated with open source software cannot be fully mitigated, which could materially impact our business operations and financial results.

***We are subject to certain export controls, including economic and trade sanctions regulations that could impair our ability to compete in international markets and subject us to liability if we are not in full compliance with applicable laws.***

Our business activities are subject to various restrictions under U.S. export controls and trade and economic sanctions laws, including the U.S. Commerce Department's Export Administration Regulations and economic and trade sanctions regulations maintained by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). These also include U.S., UK and E.U. financial and economic sanctions targeting Russia following its invasion of Ukraine. If we fail to comply with these laws, rules and regulations, we could be subject to civil or criminal penalties and reputational harm. U.S. export control laws and economic sanctions laws also prohibit certain transactions with U.S. embargoed or sanctioned countries, governments, persons and entities.

We employ country-specific log-in and/or cart blocks in comprehensively sanctioned jurisdictions, customer screening, and other measures designed to ensure regulatory compliance. When we screen customers against such sanctions lists, we rely on the data provided to us by our customers; if customers do not provide complete or accurate data, our screening process may fail to identify customers who are denied parties. As such, there is risk that in the future we could provide our products to denied parties despite such precautions. Changes in the list of sanctioned jurisdictions and OFAC and other sanctions lists may require us to modify these measures in order to comply with governmental regulations. Our failure to screen customers properly could result in negative consequences to us, including government investigations, penalties and reputational harm.

Any change in export or import regulations, shift in the enforcement or scope of existing regulations, or change in the countries, governments, persons or technologies targeted by such regulations, could result in decreased use of our products or decreased ability to sell our products to existing or potential customers. Any decreased use of our products or limitation on our ability to sell our products internationally could adversely affect our growth prospects.

If we are found to be in violation of the export controls laws, rules and regulations or economic sanctions laws, rules and regulations, penalties may be imposed against us and our employees, including loss of export privileges and monetary penalties, which could have a material adverse effect on our business. We could also be materially and adversely affected through penalties, reputational harm, loss of access to certain markets, or otherwise if we are found to have violated these laws, rules and regulations.

***Due to the global nature of our business, we could be adversely affected by violations of anti-bribery and anti-corruption laws.***

We face significant risks if we fail to comply with the U.S. Foreign Corrupt Practices Act of 1977, as amended (FCPA), the UK Bribery Act 2010 (UK Bribery Act), the U.S. Travel Act of 1961 and other anti-corruption and anti-bribery laws prohibiting companies and their employees and third-party intermediaries from authorizing, offering or providing, directly or indirectly, improper payments or benefits to foreign government officials, political parties and private-sector recipients for an illegal purpose.

We operate and maintain business in areas of the world in which corruption by government officials exists to some degree and, in certain circumstances, compliance with anti-bribery and anti-corruption laws may conflict with local customs and practices. We operate and maintain business in several countries and sell our products to customers around the world, which

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results in varied and potentially conflicting compliance obligations. In addition, changes in laws could result in increased regulatory requirements and compliance costs which could adversely affect our business, financial condition and results of operations. While we are committed to complying with, and we provide training to help our employees comply with, all applicable anti-bribery and anti-corruption laws, we cannot assure that our employees or other agents will not engage in prohibited conduct and render us responsible under the FCPA or the UK Bribery Act.

If we are found to be in violation of the FCPA, the UK Bribery Act or other anti-bribery and anti-corruption laws (either due to acts or inadvertence of our employees, or due to the acts or inadvertence of others), we could suffer criminal or civil penalties or other sanctions, which could have a material adverse effect on our business. Any violation of the FCPA or other applicable anti-corruption or anti-bribery laws could result in whistleblower complaints, adverse media coverage, investigations, loss of export privileges, severe criminal or civil sanctions and, in the case of the FCPA, suspension or debarment from U.S. government contracts, which could have a material and adverse effect on our reputation, business, operating results and growth prospects. In addition, responding to any enforcement action may result in a diversion of management's attention and resources and significant defense costs and other professional fees.

***Changes in taxation laws, rules and regulations may discourage the registration or renewal of domain names for e-commerce.***

Due to the global nature of the Internet, it is possible that any U.S. or foreign federal, state or local taxing authority might attempt to regulate our transmissions or levy transaction, income or other taxes relating to our activities. Tax authorities at the international, federal, state and local levels are regularly reviewing the appropriate treatment of companies engaged in e-commerce. New or revised international, federal, state or local tax regulations may subject either us or our customers to additional sales, income and other taxes. In particular, after the U.S. Supreme Court's ruling in South Dakota v. Wayfair, U.S. states may require an online retailer with no in-state property or personnel to collect and remit sales tax on sales to such states' residents. We cannot predict the effect of current attempts to impose sales, income or other taxes on e-commerce. New or revised taxes, particularly sales and other transaction taxes, would likely increase the cost of doing business online and decrease the attractiveness of advertising and selling goods and services over the Internet. New taxes could also create significant increases in internal costs necessary to capture data and to collect and remit taxes. Any of these events could have an adverse effect on our business and results of operations.

***Our payments-related operations, including GoDaddy Payments, are subject to various laws, regulations, and restrictions. Our failure to comply with such rules, regulations, and restrictions regarding our payments-related operations or properly manage the risks inherent to such operations could materially harm our business.*** 

We are subject, and may become subject, to various restrictions with respect to our payments-related operations and payments products and services, including under U.S. federal, U.S. state and international laws, rules and regulations, as well as restrictions set forth in agreements we have with payment card networks and third-party payment service providers.

*Payments Regulations*. The processing and acceptance of a variety of payment methods, and offering of payments related products and services may be subject to various laws, rules, regulations, legal interpretations, and regulatory guidance, including those governing cross-border and domestic money transmission and funds transfers, foreign exchange, payment services, consumer protection, information and communications security, anti-money laundering, escheatment, and sanctions and export control. If we or our GoDaddy Payments business were found to be in violation of applicable laws, rules or regulations, we could be subject to additional operating requirements and/or civil and criminal penalties or forced to cease providing certain services.

*Payment Card Networks*. We partner with payment card networks including Visa, MasterCard and American Express to conduct both our and GoDaddy Payments' payment processing. These payment card networks have adopted rules and regulations that apply to all merchants who accept their payment cards including special operating rules that apply to GoDaddy Payments as a "payment facilitator" providing payment processing services to our GoDaddy Payments' customers. Each payment card network has discretion to interpret its own network operating rules and may make changes to such rules at any time. Changes to such rules could include increasing the cost of, imposing restrictions on, or otherwise impacting the development of, our GoDaddy Payments' retail point-of-sale solutions, which may negatively affect their deployment and adoption and could ultimately harm our business. In addition, these payment card networks may in the future increase the interchange fees and assessments that they charge for each transaction on their networks and may impose special fees or assessments on any transactions on their networks. Our payment card networks have the right to pass any increases in interchange fees and assessments on to us, which could increase our costs and thereby adversely affect our financial performance.

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We may also be subject to fines assessed by the payment card networks resulting from any rule violations by us or our GoDaddy Payments' customers. For instance, we could be subject to penalties from payment card networks if we fail to detect that our GoDaddy Payments' customers are engaging in activities that are illegal, contrary to the payment card network operating rules, or considered "high risk." Any such penalties could become material and could result in termination of our ability to accept payment cards or could require changes in our process for registering new GoDaddy Payments' customers. Any such penalties or fines could materially and adversely affect our business.

*Third-Party Payment Service Providers*. We have agreements in place with companies that process credit and debit card transactions on our and GoDaddy Payments' behalf. These agreements allow these payment processors, under certain conditions, to hold an amount of our, or in the case of GoDaddy Payments its customers' cash (referred to as a "holdback") or require us to otherwise post security equal to a portion of bookings that have been processed by that company. These payment processors may be entitled to a holdback or suspension of processing services upon the occurrence of specified events, including material adverse changes in our financial condition. An imposition of a holdback or suspension of payment processing services by one or more of our payment processors could materially reduce our liquidity. Further, the software and services provided by payment processors may fail to meet our expectations, contain errors or vulnerabilities, be compromised, or experience outages. Any of these risks could cause us to lose our ability to process payments, and our business and operating results could be adversely affected.

***GoDaddy Payments' risk management efforts may not be effective, and we could be exposed to substantial losses and liability which could substantially harm our business.***

GoDaddy Payments offers payment processing and other payments products and services to our customers. We have programs to vet and monitor these customers, their GoDaddy Payments' accounts, and the transactions we process for them as part of our risk management efforts, but such programs require continuous improvement and may not be effective in detecting and preventing fraud and illegitimate transactions. When GoDaddy Payments' payments services are used to process illegitimate transactions, and we settle those funds to customers and are unable to recover them, we suffer losses and liability. As a greater number of sellers, including customers with larger sale volumes, use GoDaddy Payments' services, our exposure to material losses from a single seller, or from a small number of sellers, will increase. Illegitimate transactions can also expose us to governmental and regulatory enforcement actions and potentially prevent us from satisfying our contractual obligations to our third-party partners, which may cause us to be in breach of our obligations. Identity thieves and those committing fraud using stolen or fabricated credit card, debit card, or bank account numbers, or other deceptive or malicious practices such as account takeovers, could potentially steal significant amounts of money from us or from our customers or third parties. Our risk management policies, procedures, techniques, and processes may not be sufficient to identify every risk to which we are exposed, to enable us to prevent or mitigate the risks we have identified, or to identify additional risks to which we may become subject in the future. As our GoDaddy Payments offerings grow and our business becomes more complex, we will need to continue developing, improving, and making investments into our risk management infrastructure, techniques, and processes.

In addition, customers could attempt to use our payments products and services for illegal activities or improper uses. While our terms of service prohibit the use of our products by our customers for illegal or improper activities and allow us to take appropriate actions in response to such activities, any use of our payments platform for illegal or improper activities or failure by us to detect or prevent illegal or improper activity by our customers may subject us to claims, individual and class action lawsuits, and government and regulatory requests, inquiries, or investigations that could result in liability, restrict our operations, impose additional restrictions or limitations on our business or require us to change our business practices, harm our reputation, increase our costs, and negatively impact our business.

**Risks Related to Owning our Class A Common Stock**

***Our share price may be volatile, and you may lose all or part of your investment.***

The trading price of our Class A common stock has in the past been, and is likely to continue to be, highly volatile and these fluctuations could cause you to lose all or part of your investment in our common stock. Factors that may cause the market price of our Class A common stock to fluctuate include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• price and volume fluctuations in the overall stock market from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant volatility in the market price and trading volume of technology companies in general, and of companies in our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or anticipated changes in our results of operations or fluctuations in our operating results;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• whether our operating results meet the expectations of securities analysts or investors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure of securities analysts to initiate or maintain coverage of our company, changes in financial estimates or ratings by any securities analysts who follow our company or our failure to meet the estimates or the expectations of investors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• announcements of new products or technologies, commercial relationships, acquisitions or other events by us or our competitors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or anticipated developments in our competitors' businesses or the competitive landscape generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or perceived cyber attacks or other cybersecurity incidents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• litigation involving us, our industry or both;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• regulatory developments in the U.S., foreign countries or both;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• general economic conditions and trends;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the commencement or termination of any share repurchase program;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• new laws, regulations, other legal obligations or industry standards, or any modifications to, or new interpretations of, existing laws, regulations, other legal obligations or industry standards applicable to our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• network or service outages, Internet disruptions, the availability of our service and vulnerabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in accounting standards, policies, guidelines, interpretations or principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actions instituted by activist shareholders or others;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sales of large blocks of our stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• departures of key personnel; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• major catastrophic events, including those resulting from war, incidents of terrorism, outbreaks of pandemic diseases, or responses to these events.

In addition, if the market for technology stocks or the stock market in general experiences a loss of investor confidence, the trading price of our Class A common stock could decline for reasons unrelated to our business, operating results or financial condition. The trading price of our Class A common stock might also decline in reaction to events affecting other companies in our industry even if these events do not directly affect us.

In the past, following periods of volatility in the market price of a company's securities, securities class action litigation has often been brought against that company. If our stock price is volatile, we may become the target of securities litigation, which could result in substantial costs and a diversion of management's attention and resources.

***Provisions of our charter, bylaws and Delaware law may have anti-takeover effects that could prevent a change in control of the company even if the change in control would be beneficial to our stockholders.***

Provisions of our charter and bylaws and Delaware law could make it more difficult for a third party to control or acquire us, even if doing so would be beneficial to our stockholders. Our charter and bylaws provide for, among other things: (i) the ability of our board of directors to issue one or more series of preferred stock with voting or other rights or preferences that could have the effect of impeding the success of an attempt to acquire us or otherwise effect a change in control of the company; (ii) advance notice for nominations of directors by stockholders and for stockholders to include matters to be considered at stockholder meetings; and (iii) certain limitations on convening special stockholder meetings. In addition, because we are incorporated in Delaware, we are governed by the provisions of Section 203 of the Delaware General Corporation Law, which limits the ability of stockholders owning in excess of 15% of our outstanding voting stock to merge or combine with us in certain circumstances.

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***Our bylaws designate the Court of Chancery of the State of Delaware as the exclusive forum for certain litigation that may be initiated by our stockholders, which could limit our stockholders' ability to obtain a favorable judicial form for disputes with us.*** 

Our bylaws provide that, unless we consent in writing to the selection of an alternative forum, to the fullest extent permitted by law, the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of or based on a breach of a fiduciary duty owed by any of our current or former directors, officers, or other employees to us or our stockholders, (iii) any action asserting a claim against us or any of our current or former directors, officers, employees, or stockholders arising pursuant to any provision of the Delaware General Corporation Law, our charter, or our bylaws, or (iv) any other action asserting a claim governed by the internal affairs doctrine shall be the Court of Chancery of the State of Delaware (or, if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware), in all cases subject to the court having jurisdiction over indispensable parties named as defendants. Our bylaws provide that the U.S. federal district courts will be the exclusive forum for resolving any complaint asserting a cause of action under the Securities Act.

This choice of forum provision may limit a stockholder's ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors, officers or other employees and may discourage these types of lawsuits. Alternatively, if a court were to find the choice of forum provision contained in our bylaws to be inapplicable or unenforceable in an action, we may incur additional costs associated with resolving such action in other jurisdictions.

***We currently do not intend to pay dividends on our Class A common stock.***

We have never declared or paid any dividends on our common stock, and we currently do not intend to pay dividends to the holders of our Class A common stock. Our ability to pay dividends on our Class A common stock is limited by our existing indebtedness and may be further restricted by the terms of any future debt incurred or preferred securities issued by us or our subsidiaries or by law. As a result, any capital appreciation in the price of our Class A common stock may be your only source of gain on your investment in our Class A common stock.

***We cannot guarantee we will make any additional repurchases of our Class A common stock.***

In the past, our board of directors has approved the repurchase of shares of our Class A common stock. In August 2023, our board of directors approved the repurchase of up to an additional $1,000.0 million of our Class A common stock. Such approval was in addition to the amount remaining available for repurchases under prior approvals of our board of directors, such that our total approved authority under the program is $4,000.0 million of shares of our Class A common stock through 2025. Under this or any other future share repurchase programs, we may make share repurchases through a variety of methods, including open market share purchases, accelerated share repurchase programs, block transactions or privately negotiated transactions, in accordance with applicable federal securities laws. During the six months ended June 30, 2025, we entered into two accelerated share repurchase agreements (ASRs) to repurchase shares of our Class A common stock, pursuant to which, we made upfront payments totaling $767.4 million. The ASRs were completed in the second quarter of 2025 as further discussed in Note 4 to our financial statements. In April 2025, our board of directors approved the repurchase of up to an additional $3,000 million of our Class A common stock through the end of 2027. Shares may be repurchased in open market purchases, block transactions and privately negotiated transactions, in accordance with applicable federal securities laws. This authorization does not obligate us to make any repurchases and may be modified, suspended or terminated by us at any time without prior notice. During the six months ended June 30, 2025, we repurchased shares of our Class A common stock, which were retired upon repurchase, for an aggregate purchase price of $27.0 million. Future share repurchase programs may have no time limit, may not obligate us to repurchase any specific number of shares and may be suspended at any time at our discretion and without prior notice. The timing and amount of any repurchases, if any, will be subject to liquidity, stock price, market and economic conditions, compliance with applicable legal requirements such as Delaware surplus and solvency tests and other relevant factors. Any failure to repurchase stock after we have announced our intention to do so may negatively impact our reputation and investor confidence in us and may negatively impact our stock price.

The existence of these share repurchase programs could cause our stock price to be higher than it otherwise would and could potentially reduce the market liquidity for our stock. Although these programs are intended to enhance long-term stockholder value, there is no assurance they will do so because the market price of our Class A common stock may decline below the levels at which we repurchased shares of Class A common stock and short-term stock price fluctuations could reduce the effectiveness of the programs.

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**Other Risks**

***Economic conditions in the U.S. and international economies may adversely impact our business and operating results.***

General macro-economic and geopolitical conditions, including, among others, higher interest rates, changes in foreign exchange rates, inflation, a recession or an economic slowdown in the U.S. and/or internationally, trade disruptions, reduced consumer confidence and spending, economic and trade sanctions, announced or expected tariffs, uncertaintiy in tariff policy, political instability and warfare could adversely affect our operations as well as demand for our solutions. Such conditions include, for example, volatility and disruption in the U.S. and global markets as a result of interest rate and inflation increases, the announced and expected imposition of tariffs by the U.S. on imports from certain countries, including any resulting counter-tariffs and uncertainty in tariff policy and continued geopolitical tensions and warfare, including due to the conflicts between Russia and Ukraine and in the Middle East. Although our business has not yet been materially negatively impacted by such conditions, we cannot be certain that neither we nor our customers will be materially impacted by such continued pressures. To the extent conditions in the domestic and global economy change, or there is significant uncertainty regarding any such changes, our business could be harmed as current and potential customers may reduce or postpone spending or choose not to purchase or renew subscriptions to our products, or may choose not to use certain of our other services, which they may consider discretionary. If our customers face decreased consumer demand, increased regulatory burdens or more limited access to international markets, we may face a decline in the demand for our products and services, and our operating results could be adversely impacted.

Uncertain and adverse economic conditions may also lead to a decline in the ability of our customers to use or access credit, including through credit cards, as well as increased refunds and chargebacks, any of which could adversely affect our business. In addition, changing economic conditions may also adversely affect third parties with which we have entered into relationships and upon which we depend in order to grow our business. As a result, we may be unable to continue to grow in the event of future economic slowdowns.

***Reporting requirements for which we must comply may continue to increase our costs, become too time-consuming or could divert management's attention, which could adversely affect our business and operating results.***

As a public company, we are subject to the reporting requirements of the Exchange Act, the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley Act) and the listing standards of the New York Stock Exchange (NYSE). We expect the requirements of these rules and regulations will continue to increase our legal, accounting and financial compliance costs, make some activities more difficult, time-consuming and costly, and place significant strain on our personnel, systems and resources. In addition, complying with these rules and regulations may divert management's attention from other business concerns, which could adversely affect our business and operating results.

***If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired, which could have a material adverse effect on our business and the market price of our stock.***

As a public company, we are required to maintain internal control over financial reporting and to report any material weaknesses in such internal control. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. Section 404 of the Sarbanes-Oxley Act requires that we evaluate and determine the effectiveness of our internal control over financial reporting, and our independent registered public accounting firm is required to audit such internal control. As previously disclosed for the year ended December 31, 2023, we identified a material weakness in the design of our controls as of December 31, 2023 related to income taxes and related disclosures and we determined that our internal control over financial reporting was not effective as of December 31, 2023, due to this material weakness. Although this material weakness has been remediated, and our management has determined, and our independent registered public accounting firm has attested, that our internal control over financial reporting was effective as of December 31, 2024, there can be no assurance that we will not identify a material weakness in internal controls in the future or that the measures we may take to remediate any such future control deficiencies will be effective.

If we have a material weakness in our internal control over financial reporting in the future, we could be subject to one or more investigations or enforcement actions by state or federal regulatory agencies, stockholder lawsuits or other adverse actions requiring us to incur defense costs or pay fines or settlements, or judgments, thereby causing investor perceptions to be adversely affected and potentially resulting in restatement of our financial statements for prior periods and a decline in the market price of

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our stock. In addition, our current internal controls and any new controls we implement may become inadequate because of changes in conditions in our business or information technology systems or changes in the applicable laws, regulations and standards. We have also recently acquired, and may acquire in the future, companies that were not previously subject to Sarbanes-Oxley Act regulations and accordingly were not required to establish and maintain an internal control infrastructure compliant with the Sarbanes-Oxley Act.

Any failure to design or operate effective controls, any difficulties encountered in their implementation or improvement, or any failure to implement adequate internal controls for our acquired companies could (i) harm our operating results, (ii) cause us to fail to meet our reporting obligations, (iii) adversely affect the results of management evaluations and independent registered public accounting firm audits of our internal control over financial reporting, which we are required to include in our periodic reports filed with the SEC, or (iv) cause investors to lose confidence in our reported financial and other information, any of which could have a negative effect on our stock. In addition, if we are unable to continue to meet these requirements, we may not be able to remain listed on the NYSE in the future.

***Our business is subject to evolving regulations and scrutiny from investors, regulators and other stakeholders relating to environmental, social and governance issues, which could result in additional costs for us and may adversely impact our reputation.***

We are subject to evolving regulations and scrutiny from investors, regulators, customers, employees and other stakeholders, both U.S.- and international-based, regarding environmental, social and governance (ESG) matters. If we fail, or are perceived to fail, to make progress or achievements, or to maintain ESG practices that meet evolving laws, regulations, executive orders and stakeholder expectations, or if we revise any of our ESG commitments, initiatives or goals, our reputation and our ability to attract and retain employees could be harmed, we may receive negative media attention and we may be negatively perceived by our investors or our customers. In addition, we could also be questioned, criticized or face claims regarding our ESG commitments, initiatives and goals, including with respect to the accuracy, adequacy, appropriateness or completeness of our disclosures and our reputation could be negatively impacted. We continue to monitor the development of ESG laws, regulations, executive orders and other evolving disclosure requirements in the U.S. and globally.

***Our business is subject to the risks of earthquakes, fire, power outages, floods and other catastrophic events, whether due to climate change or otherwise, and to interruption by man-made events such as terrorism and civil unrest.***

Our continued operations and growth depend on the stability of our operations and the ability of our customers to access our products, services and customer support at any time and within an acceptable amount of time. In addition, our ability to access certain third-party solutions is important to our operations and the delivery of our products, services and customer support. Although we have disaster recovery plans and structures in place to support our operations, a significant natural disaster, such as an earthquake, fire or flood or other unusual or prolonged adverse weather patterns, whether due to climate change or otherwise, or acts of terrorism, civil unrest, pandemics, international conflicts, such as the current conflicts between Russia and Ukraine and in the Middle East, or other similar events beyond our control could cause disruptions to our business and operations or the business and operations of our infrastructure vendors, data center hosting providers, partners or customers or our infrastructure vendors' abilities to provide connectivity and perform services on a timely basis or the economy as a whole. In the event our or our service providers' IT systems' are hindered by any of the events discussed above or otherwise, we could experience downtime, our products could become unavailable or our customers' websites could experience downtime or become unavailable. A prolonged service disruption for any of the foregoing reasons would negatively impact our ability to serve our customers and could damage our reputation, expose us to liability, cause us to lose customers or otherwise harm our business. We may also incur significant costs for using alternative equipment or taking other actions in preparation for, or in reaction to, events that damage the services we use.

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**Item 2. &nbsp;&nbsp;&nbsp;&nbsp;Unregistered Sales of Equity Securities and Use of Proceeds**

Information regarding share repurchases is also provided in Note 4 to our financial statements included in Part 1, Item 1 of this Quarterly Report and is incorporated herein by reference. Share repurchases during the three months ended June 30, 2025 were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Period** | **Total Number of Shares Purchased (in thousands)** | **Average Price Paid Per Share** | **Total Number of Shares Purchased as Part of Publicly Announced Programs (in thousands)** | **Approximate Dollar Value of Shares that May Yet be Purchased under the Programs (in millions)** |
| April 1 - April 30 | 4359 | $176.02 | 4359 |  |
| May 1 - May 31 | 41 | $181.69 | 41 |  |
| June 1 - June 30 | 110 | $178.01 | 110 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 4510 |  | 4510 | $2973.0 |

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**Item 3.&nbsp;&nbsp;&nbsp;&nbsp;Defaults Upon Senior Securities**

None.

**Item 4.&nbsp;&nbsp;&nbsp;&nbsp;Mine Safety Disclosures**

Not applicable.

**Item 5. &nbsp;&nbsp;&nbsp;&nbsp;Other Information**

On June 10, 2025, Roger Chen, Chief Operating Officer, adopted a 10b5-1 trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The 10b5-1 trading plan provides for the sale of an aggregate of 18,000 shares of the company's Class A common stock between October 15, 2025 and October 15, 2026.

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**Item 6.&nbsp;&nbsp;&nbsp;&nbsp;Exhibits**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** |
|<br>**Exhibit<br>Number** |<br>**Exhibit Description** | **Form** | **File No.** | **Exhibit** | **Filing Date** |
| 3.1 | <u>[Restated Certificate of Incorporation of GoDaddy Inc. dated June 4, 2025](https://www.sec.gov/Archives/edgar/data/1609711/000160971125000124/exhibit31-restatedcertific.htm)</u> | 8-K | 001-36904 | 3.1 | 6/10/2025 |
| 3.2 | <u>[Third Amended and Restated Bylaws of GoDaddy Inc., dated June 4, 2025](https://www.sec.gov/Archives/edgar/data/1609711/000160971125000124/exhibit32-thirdamendedandr.htm)</u> | 8-K | 001-36904 | 3.2 | 6/10/2025 |
| 31.1**\*** | <u>[Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](gddy10qexhibit311-20250630.htm)</u> |  |  |  |  |
| 31.2**\*** | <u>[Certification of Chief Financial Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](gddy10qexhibit312-20250630.htm)</u> |  |  |  |  |
| 32.1**\*\*** | <u>[Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](gddy10qexhibit321-20250630.htm)</u> |  |  |  |  |
| 101.INS | Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) |  |  |  |  |
| 101.SCH\* | Inline XBRL Taxonomy Extension Schema Document |  |  |  |  |
| 101.CAL\* | Inline XBRL Taxonomy Extension Calculation Linkbase Document |  |  |  |  |
| 101.DEF\* | Inline XBRL Taxonomy Definition Linkbase Document |  |  |  |  |
| 101.LAB\* | Inline XBRL Taxonomy Extension Labels Linkbase Document |  |  |  |  |
| 101.PRE\* | Inline XBRL Taxonomy Extension Presentation Linkbase Document |  |  |  |  |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |  |  |  |  |

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| | |
|:---|:---|
| **+** | Indicates management contract or compensatory plan or arrangement. |
| **\*** | Filed herewith. |
| **\*\*** | The certifications attached as Exhibit 32.1 accompanying this Quarterly Report on Form 10-Q are deemed furnished and not filed with the Securities and Exchange Commission and are not to be incorporated by reference into any filing of GoDaddy Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Quarterly Report on Form 10-Q, irrespective of any general incorporation language contained in such filing. |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | |
|:---|:---|:---|
| | | **GODADDY INC.** |
| Date: | August 7, 2025 | /s/ Mark McCaffrey |
| | | Mark McCaffrey |
| | | Chief Financial Officer |

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## Exhibit 31.1

**Exhibit 31.1**

**CERTIFICATION OF PERIODIC REPORT UNDER SECTION 302 OF**

**THE SARBANES-OXLEY ACT OF 2002**

I, Aman Bhutani, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of GoDaddy Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 7, 2025

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| | |
|:---|:---|
| By: | /s/ Aman Bhutani |
|  | Aman Bhutani |
|  | Chief Executive Officer |
|  | (Principal Executive Officer) |

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## Exhibit 31.2

**Exhibit 31.2**

**CERTIFICATION OF PERIODIC REPORT UNDER SECTION 302 OF**

**THE SARBANES-OXLEY ACT OF 2002**

I, Mark McCaffrey, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of GoDaddy Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 7, 2025

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| | |
|:---|:---|
| By: | /s/ Mark McCaffrey |
|  | Mark McCaffrey |
|  | Chief Financial Officer |
|  | (Principal Financial Officer) |

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## Exhibit 32.1

**Exhibit 32.1**

**CERTIFICATIONS OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER**

**PURSUANT TO**

**18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Quarterly Report on Form 10-Q of GoDaddy Inc. for the fiscal quarter ended June 30, 2025, as filed with the Securities and Exchange Commission (the "Report"), Aman Bhutani, GoDaddy Inc.'s Chief Executive Officer, and Mark McCaffrey, GoDaddy Inc.'s Chief Financial Officer, each certifies that, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of their knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of GoDaddy Inc.

Date: August 7, 2025

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| | |
|:---|:---|
| By: | /s/ Aman Bhutani |
|  | Aman Bhutani |
|  | Chief Executive Officer |
|  | (Principal Executive Officer) |

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| | |
|:---|:---|
| By: | /s/ Mark McCaffrey |
|  | Mark McCaffrey |
|  | Chief Financial Officer |
|  | (Principal Financial Officer) |

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<br>