GoDaddy

“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, including as a result of developments in AI.”

Annual report 2025A · The company itself

“In addition, advances in AI, including tools that enable customers to create, modify, and deploy websites, applications or digital experiences using AI-powered platforms, including those that utilize natural language or other high-level inputs rather than traditional development workflows, may alter customer expectations and behavior with respect to website creation, hosting and management. If customers increasingly rely on third-party AI platforms, closed ecosystems or other competing services, including those that offer automated or natural-language-driven website creation and hosting capabilities, demand for our website building tools, hosting products, domain names or related services could decline or pricing pressure could increase, which could materially and adversely affect our business.”

Annual report 2025A · The company itself

“If internet users' preferences or practices shift away from recognizing and relying on web addresses or they were to significantly decrease their use of web browsers in favor of apps or AI-based tools to locate and access content, demand for domain names in the gTLDs we operate could be negatively affected.”

Annual report 2025A · The company itself

“Further, 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. 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.”

Annual report 2025A · The company itself

“These threats may include human error, intentional misconduct, or accidental failures, including when using third-party LLMs providers and AI systems.”

Annual report 2025A · The company itself

“In addition, we are transforming our AI-powered solutions into agentic tools and solutions on our Airo platform. Our AI-powered agents are designed to handle our customers' fundamental jobs to be done such as domain searches and naming, logo creation and website building. These agents are built to deliver tailored support based on each customer's unique business needs, as they learn to anticipate next steps across multiple jobs to proactively guide our customers through each interaction.”

Annual report 2025A · The company itself

“In addition, as the internet continues to evolve with the rapid and developing use of AI-enabled agents, we believe the same foundational elements and infrastructures that have historically supported participation on the open internet, such as identity, naming and trust, could become increasingly important in an agentic open internet. For example, we expect infrastructure to be required to ensure that AI-powered agents can discover one another, validate identities and establish trust across domains allowing these agents to collaborate and complete end-to-end tasks with speed and precision. In response to these developments, we launched Agent Name Service (ANS), an open architecture built on industry standards to serve as a trust layer for AI-powered agents.”

Annual report 2025A · The company itself

“GoDaddy Airo® The Airo platform is an intelligent AI-experience that can help customers proactively build and grow their businesses with the power of generative and agentic AI solutions. Through our Airo agents, we aim to help our customers with their jobs to be done by providing solutions based on informed interactions across the GoDaddy suite of products and services, small business industry expertise, knowledge queries and best practices. Our Airo agents can help our customers with various jobs, including domain search and naming, personalized logo creation, website build, marketing and compliance.”

Annual report 2025A · The company itself

“Our customers increasingly need solutions that simplify how they establish, operate and grow their businesses. They want intelligent solutions that reduce manual effort, eliminate complexity, help them move from intent to outcome more efficiently across the Entrepreneur's Wheel and proactively execute tasks that meet their needs. With Airo, our customers can utilize agents that are designed to handle these fundamental jobs to be done, including domain searches and naming, logo creation and building websites and applications. •Technology that is easy-to-use, reliable, secure, efficient, performance enhancing and evolves with their needs.”

Annual report 2025A · The company itself

“Additionally, with Airo, our AI-powered experience, we aim to reduce complexities for our customers through agentic AI solutions that can anticipate needs and next steps and provide solutions through informed interactions, small business industry expertise, knowledge queries and best practices. Airo can also help our customers build their identity with domain searching, personalized logos, email inboxes and email templates and aims to help our customers grow their business with proactive email and text messages, proposed product descriptions and social media posts, conversational UI landing pages and auto-generated product catalogs.”

Annual report 2025A · The company itself

“We are supporting our employees with the latest technologies to enhance and assist in productivity and learning, including AI solutions and software. We aim to provide our employees with AI-powered tools and experiences, such as various large language models (LLMs), AI-enabled companions and our internal AI-powered chat interface, to enhance their effectiveness and efficiency.”

Annual report 2025A · The company itself

“Our key product development initiatives include: Harnessing the Power of AI For Our Customers. We design our AI-powered tools and experiences to enhance our customers' discoverability of and engagement with the full suite of our product offerings and to reduce the friction inherent in establishing an online presence and growing a businesses.”

Annual report 2025A · The company itself

“Our use, development, adoption, deployment and maintenance of AI and other new and evolving technologies may present significant risks, which could result in increased costs, litigation, reputational harm and liability. We are increasingly using new and rapidly evolving technologies, such as AI, including agentic AI, to, among other things, develop new tools and solutions, add new features in our existing solutions and enhance our own business operations.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Websites + Marketing is an easy-to-use, do-it-yourself, mobile-optimized online tool that enables our customers to build effective websites and e-commerce enabled online stores with minimal technical skill. We offer a variety of plans, with pricing based on business, marketing, commerce and other features. With each of these plans, customers gain access to our AI-powered tools and solutions, which include natural language, conversational chat interfaces, also known as vibe coding, that can build a customizable and editable site based on each customer's unique needs.”

Annual report 2025A · The company itself

“For example, within our Websites + Marketing platform, customers can utilize our AI-powered marketing consultant to create marketing plans as they seek to market their businesses in a number of different channels based on the type of their venture and their geography.”

Annual report 2025A · The company itself

“In 2025, we continued to harness the power of AI, with a focus on enabling agentic AI capabilities across Airo and our existing products. Our expanded AI solutions include conversational chat interfaces that utilize natural language to help with website creation and customization; Airo Plus Logo, which supports automated brand identity creation; Airo Plus Marketing, to assist with AI-enabled marketing content and campaign management; and Airo Plus Site Optimizer, an AI-driven tool to obtain website performance insights and recommendations.”

Annual report 2025A · The company itself

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

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Our primary email and productivity solutions products include: Microsoft 365 Email and Productivity Solutions. We offer fully-supported Microsoft 365 accounts that are easy to set up and use with our customers' domains. We offer Microsoft 365 through various plans, including email with calendar and contacts connected to a full suite of productivity tools, as well as file sharing and full desktop versions of Microsoft productivity applications, such as Outlook, Teams, Word, Excel and PowerPoint.”

Annual report 2025A · The company itself

“We continue to migrate many of our non-hosting products and internal systems to Amazon Web Services.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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 several of our products and our integrated platform.”

Annual report 2025A · The company itself

“For example, we have made, and may make in the future, significant investments in product development, corporate infrastructure, technology and development, software systems and data center resources, marketing and our GoDaddy Guides.”

Annual report 2025A · The company itself

“We rely on certain relationships with partners to offer and support key products and services, some of whom create integrations with our products, including Microsoft Corporation, a critical provider of email and related productivity tools through Microsoft 365, and others that create integrations with third-party applications and platforms used by our customers, such as advanced email security provided by ProofPoint, Inc., email backup and migration services provided by SkyKick and email archiving services provided by Barracuda. Our email offerings are a core component of many customers' productivity and daily operations and our ability to provide these services at scale depends, in significant part, on the continued availability, functionality and commercial terms of our partnerships, including with Microsoft and other email providers.”

Annual report 2025A · The company itself

“If a key partner, such as Microsoft, were to terminate its relationship with us, materially limit our or our customers' access to its products and services, fail to create operable integrations, fail to perform as expected, or if they change the features, availability or pricing of their applications or alter the terms governing our or our customers' use of their applications in an adverse manner, demand for their products, and as a result our products could decrease, we could be required to transition customers to alternative solutions, which may not be available on comparable terms, may be operationally complex and could result in service disruptions, increased costs or loss of customers, all of which would harm our business and operating results.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Hosting and Security For more technically sophisticated WebPros and other customers, we provide high-performance, flexible hosting and security products that can be used with a variety of open source design tools, including WordPress. We design these solutions to be easy to use, effective, reliable, flexible and provide great value.”

Annual report 2025A · The company itself

“Our primary hosting and security products include: Shared Website Hosting. The term "shared hosting" refers to the housing of multiple websites on the same server. We operate, maintain and support shared website hosting in our owned and operated data centers and our leased co-located data 10 Table of Contents centers using either Linux or Windows operating systems.”

Annual report 2025A · The company itself

“Virtual Private Servers. Our broad range of virtual private server (VPS) offerings allows our customers to select the server configuration best suited for their applications, requirements and growth.”

Annual report 2025A · The company itself

“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 claims, 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.”

Annual report 2025A · The company itself

“The use or adoption of AI technologies in our solutions may subject us to copyright infringement or other intellectual property claims. If we, or third-party developers whose AI we rely on, do not have sufficient rights to use the data or other material used or processed by such AI technology, we also may incur liability through the actual or alleged violation of applicable laws, rules and regulations, third-party intellectual property, privacy, or other rights or contractual obligations.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Table of Contents 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.”

Annual report 2025A · The company itself

“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 otherwise impact our financial condition, or could result in the suspension of our ability to accept credit cards as a form of payment.”

Annual report 2025A · The company itself

“We cannot ensure the encryption and authentication technology we rely on to secure the 36 Table of Contents transmission of payment information will adequately prevent cybersecurity incidents affecting systems.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Security and SSL Certificates. Our security product portfolio is a comprehensive suite of tools designed to help our customers secure their online presence.”

Annual report 2025A · The company itself

“Various U.S. federal, state and international laws, rules and regulations govern the payments industry, including the Bank Secrecy Act of 1970, anti-money laundering and sanctions regulations, and state money transmitter licensing laws.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“In addition, we could be liable if there is a cybersecurity incident affecting the payment information we store.”

Annual report 2025A · The company itself

“Under our contracts with our processors, if there is unauthorized access to, or disclosure of, payment information we store, we could be liable to the credit card issuing banks for their cost of issuing new cards and related expenses.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Finally, our suite of Commerce solutions enables our customers to sell directly online, in-person and across multiple channels, such as marketplaces and social platforms, and to integrate dynamic information everywhere they engage with current and potential customers. These solutions include GoDaddy Payments, point-of-sale (POS) systems, Tap to Pay on Mobile, GoDaddy Capital, Instant Payout and inventory and order dashboards for easier business management for our customers and their businesses.”

Annual report 2025A · The company itself

“Our primary commerce products and services include: GoDaddy Payments. As a "payment facilitator," GoDaddy Payments enables our customers in both the U.S. and Canada to accept all major forms of payment, including Visa, MasterCard, American Express, Discover and contactless payments, including Apple Pay and Google Pay, with no long-term contracts or monthly minimums. This service enables our customers to start accepting payments in minutes with a simple setup and get paid, in many cases, as early as the next business day, all with the lowest fees in the industry when compared to similar plans from other leading providers.”

Annual report 2025A · The company itself

“In 2025, we launched GoDaddy Capital, a merchant cash advance program available to GoDaddy Payments users, that allows them to apply for an advance of up to $1.0 million and Instant Payouts, an on-demand payout option allowing our customers to get their payout on any day, including weekends and holidays.”

Annual report 2025A · The company itself

“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 several of our products and our integrated platform.”

Annual report 2025A · The company itself

“We also expect to increasingly rely on third-party cloud computing and hosting providers, such as AWS, as we transition to the public cloud.”

Annual report 2025A · The company itself

“Table of Contents We use AWS primarily for cloud-based server capacity, storage and other infrastructure offerings.”

Annual report 2025A · The company itself

“The scalability and flexibility of our infrastructure depends on the functionality and bandwidth of our data centers, peering sites and servers.”

Annual report 2025A · The company itself

“Our scalable infrastructure platform was built to allow for economies of scale and enable next-generation hosting architecture for our customers, while investing in faster, denser and more efficient data centers, improved network connectivity and resiliency, both domestically and internationally.”

Annual report 2025A · The company itself

“Our Identity solutions blend seamlessly into our Presence-based solutions to help our customers manage and grow their Presence online and offline. Our suite of Presence-based solutions, enhanced by Airo, enables our customers to market their products and services, connect with their own customers and syndicate their business across relevant third-party products and platforms. Our Presence solutions and tools include website building and hosting, social media, search engine visibility, security and other services.”

Annual report 2025A · The company itself

“Finally, our suite of Commerce solutions enables our customers to sell directly online, in-person and across multiple channels, such as marketplaces and social platforms, and to integrate dynamic information everywhere they engage with current and potential customers. These solutions include GoDaddy Payments, point-of-sale (POS) systems, Tap to Pay on Mobile, GoDaddy Capital, Instant Payout and inventory and order dashboards for easier business management for our customers and their businesses.”

Annual report 2025A · The company itself

“Websites + Marketing is an easy-to-use, do-it-yourself, mobile-optimized online tool that enables our customers to build effective websites and e-commerce enabled online stores with minimal technical skill. We offer a variety of plans, with pricing based on business, marketing, commerce and other features. With each of these plans, customers gain access to our AI-powered tools and solutions, which include natural language, conversational chat interfaces, also known as vibe coding, that can build a customizable and editable site based on each customer's unique needs.”

Annual report 2025A · The company itself

“We design our commerce products to help our customers sell online, in-person and on leading marketplaces, while being able to manage their sales from one place. In addition to robust commerce capabilities, we offer the lowest card transaction fees in the industry when compared to similar plans from other leading providers, which allows our customers to keep more of what they make.”

Annual report 2025A · The company itself

“Point-of-Sale and Payment Acceptance Solutions. We offer a line of Smart Terminal POS devices for businesses with in-store operations, including our swivel screen Smart Terminal Pro, countertop Smart Terminal Duo and compact, handheld Smart Terminal Flex. Our Smart Terminal devices are modern, dual screen all-in-one POS systems that allow our customers to manage in-store inventory and product catalogs and accept payments.”

Annual report 2025A · The company itself

“Online Store. Our Websites + Marketing product includes online store capabilities, which allows our customers to transact business directly on their websites.”

Annual report 2025A · The company itself

“Presence. Presence represents the need of our customers to present themselves to their customers, which they do through an ever-expanding set of options through their website and across various marketing channels, email, marketplaces and social media.”

Annual report 2025A · The company itself

“Commerce. Commerce reflects our customers' need for reliable, seamless payment and transaction capabilities across both online and in-person environments.”

Annual report 2025A · The company itself

“We offer a range of solutions that help our customers publish their ideas online, including Websites + Marketing and Managed WordPress. These solutions combine mobile-optimized website builders with an integrated set of marketing and e-commerce solutions, all of which are enhanced with AI-powered tools.”

Annual report 2025A · The company itself

“Our commerce solutions are designed to grow with our customers' businesses enabling them to seamlessly sell both offline and online, from online marketplaces and social platforms, while easily managing their sales in one place. We continue to build our suite of commerce solutions, which includes GoDaddy Payments, Tap To Pay on Mobile App and Smart Terminals.”

Annual report 2025A · The company itself

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

Annual report 2025A · The company itself

“Table of Contents Our customers and their businesses rely heavily on tools and solutions that help them manage and grow their Presence, including dedicated websites, online stores and social media channels, such as Meta, TikTok, Snapchat, X and WeChat. As reliance on social media channels, applications and AI-powered tools increases, domain names, websites and online stores and marketplaces may become less prominent, and their value may decline.”

Annual report 2025A · The company itself

“We believe the following strengths provide us with competitive advantages in serving these needs: Table of Contents Global Brand Awareness. Our global brand benefits from high awareness as the leading domain name provider, with approximately 81 million domains under management as of December 31, 2025. Based on information reported in VeriSign's most recent Domain Name Industry Brief, this represented around 21% of the approximately 387 million domain names registered worldwide as of December 31, 2025.”

Annual report 2025A · The company itself

“Our business applications range from domain-specific email and email marketing to payment tools to help our customers interact and communicate with their customers and grow their ideas. For example, GoDaddy Conversations is a communications platform that helps small businesses support, engage and convert customers through email, text, online chat, social media, voice and video conversations.”

Annual report 2025A · The company itself

“Business Overview GoDaddy is a global leader serving a large market of entrepreneurs, developing and delivering easy-to-use solutions as a one-stop shop provider, backed by proactive, informed and personalized guidance. We serve small businesses, individuals, organizations, developers, designers and domain investors.”

Annual report 2025A · The company itself

“Our largest customer population, Independents, consists mostly of microbusinesses and non-commercial endeavors. Microbusiness owners have an entrepreneurial spirit, strong work ethic and, above all, passion for their ideas, yet their specific needs vary depending on their business and the phase of their journey. Independents range from individuals who have an initial business idea to established ventures that need help attracting customers, growing their sales, processing payments, managing their online presence or expanding their operations.”

Annual report 2025A · The company itself

“Table of Contents Our second largest customer population, WebPros, are website designers and developers who build websites on behalf of businesses and noncommercial organizations. WebPros are often freelancers, moonlighters or teams within website design agencies that often have website design as one of multiple streams of income.”

Annual report 2025A · The company itself

“Our third largest customer population is Domain Investors. Domain Investors are individuals or organizations who typically manage a portfolio of registered domains for the purpose of selling such domains in secondary markets.”

Annual report 2025A · The company itself

“Small Business Administration's Office of Advocacy, 99.9% of all firms in the U.S. are small businesses, of which there were approximately 36.2 million, based on the Census Bureau's 2022 Statistics of U.S. Businesses. These small businesses are estimated to represent approximately 43.5% of total U.S. gross domestic product.”

Annual report 2025A · The company itself

“Established in 2018, GoDaddy's Small Business Research Lab (formerly, Venture Forward) aims to quantify the economic impact of more than 20 million microbusinesses across the U.S., UK, Australia and Canada (measured by a unique domain and an active website) have on their economies. Most of these businesses employ fewer than ten people, categorizing each as a microbusiness.”

Annual report 2025A · The company itself

“Moreover, we focus our operations on entrepreneurs, customers with new ventures and those with established small and medium-sized businesses.”

Annual report 2025A · The company itself

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

Annual report 2025A · The company itself

“Our Identity solutions blend seamlessly into our Presence-based solutions to help our customers manage and grow their Presence online and offline. Our suite of Presence-based solutions, enhanced by Airo, enables our customers to market their products and services, connect with their own customers and syndicate their business across relevant third-party products and platforms. Our Presence solutions and tools include website building and hosting, social media, search engine visibility, security and other services.”

Annual report 2025A · The company itself

“We manage and report our business in the following two segments: •Applications and Commerce (A&C), which primarily consists of sales of products containing our proprietary software, notably our website building products, our proprietary commerce solutions and third-party email and productivity solutions, as well as sales of certain products when they are included in bundled offerings of our proprietary software products.”

Annual report 2025A · The company itself

“Managed WordPress is our streamlined, optimized website building experience that allows our customers to easily build and manage a WordPress site. Managed WordPress is designed for customers seeking greater flexibility and power than our Websites + Marketing solution. With our Managed WordPress site, we manage the administrative tasks for our customers, allowing them to spend more time building and growing their business.”

Annual report 2025A · The company itself

“Core Entrepreneurial Needs We Serve - Meeting our Customers at Every Phase of the Entrepreneur's Wheel While our customers' needs change depending on where they are in their journey, the most common customer needs we serve include: Identity. Our customers want to develop an identity by finding a name that distinctly identifies their business, hobby or passion.”

Annual report 2025A · The company itself

“Presence. Presence represents the need of our customers to present themselves to their customers, which they do through an ever-expanding set of options through their website and across various marketing channels, email, marketplaces and social media.”

Annual report 2025A · The company itself

“Table of Contents •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.”

Annual report 2025A · The company itself

“Performance Obligations Our contracts with customers may include multiple performance obligations, including a combination of some or all of the following products: domain registrations, website hosting products, website building products, website security products and other cloud-based products.”

Annual report 2025A · The company itself

“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 and review the need to establish, as needed, customer care operations in overseas locations. In addition, we continue to expand our employee base in a number of international locations, including in India, Bulgaria and Serbia.”

Annual report 2025A · The company itself

“As of December 31, 2025, we had approximately 9.8 million customers outside of the U.S. and derived approximately 33%, 32% and 32% of our total revenue from international sales during the years ended December 31, 2025, 2024 and 2023, respectively.”

Annual report 2025A · The company itself

“International revenue represented approximately 33%, 32% and 32% of our total revenue for the years ended December 31, 2025, 2024, and 2023, respectively.”

Annual report 2025A · The company itself

“We lease customer care centers and offices located throughout the U.S. as well as internationally, most significantly in India, the UK, and Romania. We provide our cloud-based products via a network of data centers including (i) a data center we own and operate in Phoenix, Arizona; (ii) co-location data centers located throughout the U.S., most significantly in Virginia; and (iii) co-location international data centers, most significantly in Singapore and France.”

Annual report 2025A · The company itself

“International 1,626.8 1,459.8 1,381.1 $ 4,951.1 $ 4,573.2 $ 4,254.1 No country outside the U.S. represented more than 10% of total revenue in any period presented.”

Annual report 2025A · The company itself

“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 and review the need to establish, as needed, customer care operations in overseas locations. In addition, we continue to expand our employee base in a number of international locations, including in India, Bulgaria and Serbia.”

Annual report 2025A · The company itself

“International revenue represented approximately 33%, 32% and 32% of our total revenue for the years ended December 31, 2025, 2024, and 2023, respectively.”

Annual report 2025A · The company itself

“We provide our cloud-based products via a network of data centers including (i) a data center we own and operate in Phoenix, Arizona; (ii) co-location data centers located throughout the U.S., most significantly in Virginia; and (iii) co-location international data centers, most significantly in Singapore and France.”

Annual report 2025A · The company itself

“International 1,626.8 1,459.8 1,381.1 $ 4,951.1 $ 4,573.2 $ 4,254.1 No country outside the U.S. represented more than 10% of total revenue in any period presented.”

Annual report 2025A · The company itself

“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 fluctuate 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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Table of Contents Our customers and their businesses rely heavily on tools and solutions that help them manage and grow their Presence, including dedicated websites, online stores and social media channels, such as Meta, TikTok, Snapchat, X and WeChat. As reliance on social media channels, applications and AI-powered tools increases, domain names, websites and online stores and marketplaces may become less prominent, and their value may decline.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“We have invested and will continue to invest in our partnerships to provide these product offerings and tools to our customers, to assist us in expanding the suite of solutions and tools we can offer to our customers and to help us attract new customers and retain and grow our existing customers.”

Annual report 2025A · The company itself

“Our GoDaddy Guides also market our brand through their recommendations of our products or solutions to specifically meet the needs of our customers.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“In addition, we are dependent on the interoperability of our products with these channels, applications and mobile devices.”

Annual report 2025A · The company itself

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

Annual report 2025A · The company itself

“Our customers increasingly need solutions that simplify how they establish, operate and grow their businesses. They want intelligent solutions that reduce manual effort, eliminate complexity, help them move from intent to outcome more efficiently across the Entrepreneur's Wheel and proactively execute tasks that meet their needs. With Airo, our customers can utilize agents that are designed to handle these fundamental jobs to be done, including domain searches and naming, logo creation and building websites and applications. •Technology that is easy-to-use, reliable, secure, efficient, performance enhancing and evolves with their needs.”

Annual report 2025A · The company itself

“We sell our products directly to customers and also through a network of resellers.”

Annual report 2025A · The company itself

“The Organization for Economic Co-operation and Development (OECD) has and continues to release guidance and certain countries have enacted legislation, with widespread implementation of the Pillar Two framework expected in the near future. The Pillar Two framework and associated laws, rules, regulations and guidance across jurisdictions have not yet been fully adopted, implemented or released. We are unable to predict when and how additional rules will be enacted in additional countries, and it is possible that such legislation, when implemented, could have a material effect on our liability for taxes.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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 gTLD registry business is based on contracts with ICANN, per TLD, and therefore, is subject to existing requirements and any changes or modifications to those requirements.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“In addition to the above, courts and regulators in certain jurisdictions have adopted, and may continue to adopt, broad or evolving interpretations of the obligations of domain name registrars and registries. Such interpretations may include, among other things, disclosure of registrant information, restrictions on the availability or promotion of certain domain names, limitations on privacy or proxy services, requirements to implement intellectual property protection or anti-fraud measures (including Know Your Customer requirements), and compliance with local court orders or enforcement requests, including in cross-border contexts. Compliance with such interpretations, or with inconsistent or conflicting legal requirements across jurisdictions, may increase our costs, require operational changes, limit certain product offerings or expose us to increased litigation, regulatory scrutiny, fines, penalties or enforcement actions, including restrictions on our ability to operate or offer services in certain markets.”

Annual report 2025A · The company itself

“ICANN introduced a new gTLD program, Next Round, which is expected to open in the second quarter of 2026 upon completion of certain policy implementation work. Our competitive position depends in part on our ability to gain access to and meaningfully participate in new TLDs opportunities, including the Next Round. 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, whether as a registrar, a registry operator or a provider of backend registry and other related services, could adversely impact our ability to sell domain name registrations 43 Table of Contents to customers, and, in turn, could adversely impact our business.”

Annual report 2025A · The company itself

“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 $0.20 for most domain names registered in the gTLDs within its purview.”

Annual report 2025A · The company itself

“In addition, aspects of the DSA, OSA and other new, existing and emerging laws concerning content moderation and transparency, including at the state and federal levels in the U.S., remain unclear or subject to evolving regulatory guidance and interpretation, and we may be required to modify our policies and practices further in an effort to comply with them. Moreover, regulatory regimes are becoming increasingly fragmented and may diverge or conflict across jurisdictions, making cross-border compliance more complex.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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 could narrow, condition or repeal existing statutory liability protections 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 immunity provided by the E-Commerce Directive in the E.U.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“For example, the E.U. has enacted the EU AI Act, which regulates the development, deployment and use of AI systems with broad extra-territorial effect.”

Annual report 2025A · The company itself

“In the U.S., various laws, regulations, rules, orders and directives have been proposed or implemented relating to the development, deployment, and use of AI.”

Annual report 2025A · The company itself

“It is not possible to predict all 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.”

Annual report 2025A · The company itself

“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; •ICANN could fail to maintain its role, potentially resulting in instability in DNS services administration and operation; 42 Table of Contents •our business as a vertically integrated operation of a registrar and registry could lead to increased regulatory scrutiny; •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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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 and takedown obligations, advertising restrictions, reporting obligations, 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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“As of December 31, 2025, we employed 5,845 people worldwide, made up of 2,414 in technology and development, 2,237 in care and services (who represent the portion of our GoDaddy Guides that are employed directly by GoDaddy), 369 in marketing and advertising and 825 in general and administrative functions.”

Annual report 2025A · The company itself

“In addition to the 2,237 GoDaddy Guides discussed above, we partner with various third-party providers and vendors to provide contracted care and support services to our customers; approximately 3,400 individuals are employed with or engaged by our external partners. These third-party providers are primarily located in international markets, most significantly in India and the Philippines.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Our GoDaddy Guides have historically contributed significantly to our total bookings.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“NIS2 Directive being transposed into member state law; •ICANN, TLD operators, governments and governmental authorities may impose requirements for, or prohibit, the registration of domain names containing certain words or phrases; •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; •multi-party review panels established by ICANN's Bylaws may take positions unfavorable to our business; and •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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Existing and new laws, rules, regulations and orders relating to the security of our networks and data processing, such as NIS2 in the E.U. may cause us to incur additional compliance costs or limit our ability to provide certain of our products or services in some jurisdictions.”

Annual report 2025A · The company itself

“Table of Contents 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.”

Annual report 2025A · The company itself

“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 fluctuate 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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“General Data Protection Regulation (GDPR), includes stringent operational requirements for processors and controllers of E.U. personal data with broad extra-territorial effect and imposes significant penalties for non-compliance.”

Annual report 2025A · The company itself

“In the U.S., the California Consumer Privacy Act and its associated regulations require covered companies to provide specific disclosures to California consumers and afford such 20 Table of Contents consumers new abilities to opt-out of certain sales and sharing of personal information for advertising and other purposes.”

Annual report 2025A · The company itself

“We are subject to evolving regulations and scrutiny from both U.S. and international investors, regulators, customers, employees and other stakeholders regarding environmental, social and governance (ESG) matters. If we fail, or are perceived to fail, to maintain ESG practices that meet evolving laws, regulations, executive orders and stakeholder expectations, or if we fail to make progress on or 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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“The Revolver bears interest at a rate equal to, at our option, either (i) SOFR for the applicable interest period plus a margin ranging from 1.25% to 1.75% per annum or (ii) the highest of (a) the Federal Funds Rate plus 0.5%, (b) the Prime Rate or (c) SOFR for an interest period of one month plus 1.0% plus a margin ranging from 0.25% to 0.75% per annum, with the margins determined based on our first lien secured leverage ratio. The Revolver also contains a financial covenant requiring us to maintain a leverage ratio of 5.75:1.00 when our usage exceeds 40.0% of the maximum capacity.”

Annual report 2025A · The company itself

“Our business activities are subject to U.S. export controls and trade and economic sanctions laws, including the U.S. Commerce Department's Export Administration Regulations (EAR) and economic and trade sanctions regulations maintained by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), as well as similar laws and regulations imposed by other jurisdictions, including the United Kingdom and European Union.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“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).”

Annual report 2025A · The company itself

“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.”

Annual report 2025A · The company itself

“Competition for highly skilled personnel, particularly employees with technical and engineering skills, is frequently intense. Additionally, we are limited in our ability to recruit global talent by U.S. immigration laws and policies, including those related to H-1B visas. The demand for H-1B visas to fill highly-skilled jobs is greater than the number of H-1B visas available each year. In addition, new or modified immigration laws and policies may further limit the availability of H-1B visas, cause delays in the issuance of visas or increase the costs associated with H-1B visas, any of which could impact our ability to recruit, hire and retain qualified skilled personnel, which could adversely impact our business, operating results and financial condition.”

Annual report 2025A · The company itself

“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 merchant screening, merchant 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.”

Annual report 2025A · The company itself

“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.; •the U.S.”

Annual report 2025A · The company itself

“As of December 31, 2025, we had approximately 9.8 million customers outside of the U.S. and derived approximately 33%, 32% and 32% of our total revenue from international sales during the years ended December 31, 2025, 2024 and 2023, respectively.”

Annual report 2025A · The company itself

“International 1,626.8 1,459.8 1,381.1 $ 4,951.1 $ 4,573.2 $ 4,254.1 No country outside the U.S. represented more than 10% of total revenue in any period presented.”

Annual report 2025A · The company itself

“During 2025, our total bookings growth in constant currency would have had an insignificant impact and our total revenue growth would have been approximately 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.”

Annual report 2025A · The company itself