Godaddy Inc (NYSE:GDDY) stock fell 0.47% (As on February 15, 11:23:40 AM UTC-4, Source: Google Finance) after the company missed the earnings estimates for the fourth quarter of FY 22. On February 8, 2023, GoDaddy announced a restructuring plan aimed at driving over $100 million in annualized cost savings through a reduction in force, operating expense reductions and integration of certain European brands and businesses within our Core Platform segment. GoDaddy expects restructuring and other related exit charges of approximately $55 million to $65 million to be recorded in the first half of 2023. At December 31, 2022, total cash and cash equivalents were $774.0 million, total debt was $3.9 billion and net debt was $3.1 billion. Annualized recurring revenue (ARR) for applications & commerce grew 9% year-over-year to $1.3 billion in the fourth quarter. ARR from GoDaddy’s Create and Grow group of products, which includes Websites + Marketing, Managed WordPress, Sellbrite, and GoDaddy Studios, surpassed $445 million, growing 8% year-over-year in the fourth quarter of 2022.

GDDY in the fourth quarter of FY 22 has reported the adjusted earnings per share of 60 cents, missing the analysts’ estimates for the adjusted earnings per share of 64 cents. The company had reported the adjusted revenue growth of 2 percent to $1.04 billion in the fourth quarter of FY 22, which is inline with the analysts’ estimates for revenue of $1.04 billion.

For the first quarter ending March 31, 2023, GoDaddy expects total revenue in the range of $1.030 billion to $1.050 billion, representing year-over-year growth of 4% at the midpoint, versus the same period in 2021 versus the analyst consensus of $1.06B. For the full year ending December 31, 2023, GoDaddy is targeting total revenue in the range of $4.250 billion to $4.325 billion, representing year-over-year growth of 5% at the midpoint, versus the $4.09 billion of revenue generated for the full year ended December 31, 2022.

For the first quarter ending March 31, 2023, GoDaddy expects Normalized EBITDA margin to be in the range of 24% to 25%. For the full year ending December 31, 2023, GoDaddy expects Normalized EBITDA margin of approximately 26%.For the full year ending December 31, 2023, GoDaddy expects unlevered free cash flow of approximately $1.2 billion, representing growth of 9%, year-over-year, versus the $1.1 billion of unlevered free cash flow generated in 2022. GoDaddy expects free cash flow of approximately $1.0 billion, representing growth of 3%, year-over-year, versus the $968.6 million of free cash flow generated in 2022.