Go Daddy 2015 Annual Report Download - page 60

Table of Contents
December 31,
2015
2014
2013
2012
2011
Consolidated Balance Sheet Data: (in millions)
Cash and cash equivalents $ 348.0
$ 139.0
$ 95.4
$ 59.5
$ 47.8
Prepaid domain name registry fees 456.3
425.6
404.1
373.8
337.1
Property and equipment, net 225.0
220.9
183.2
159.7
195.6
Total assets 3,498.8
3,260.7
3,208.1
3,027.7
3,068.4
Deferred revenue 1,416.2
1,250.6
1,086.2
908.9
656.5
Long-term debt, including current portion 1,044.0
1,414.8
1,080.7
989.3
998.9
Total liabilities 2,817.8
2,850.3
2,337.6
1,981.6
1,738.5
Key Metrics
We monitor the following key metrics to help us evaluate growth trends, establish budgets and assess operational performance. In addition to our results
determined in accordance with GAAP, we believe the following non-GAAP and operational measures are useful in evaluating our business:
Year Ended December 31,
2015 (1)
2014 (1)
2013 (1)
2012 (1)
2011 (1)
(unaudited; in millions, except ARPU)
Total bookings $ 1,914.2
$ 1,675.2
$ 1,397.9
$ 1,249.6
$ 1,124.8
Total customers at period end 13.8
12.7
11.6
10.2
9.4
Average revenue per user (ARPU) $ 121
$ 114
$ 104
$ 93
$ 102
Adjusted EBITDA $ 337.4
$ 271.5
$ 196.3
$ 173.9
$ 156.8
____________
(1) The year ended December 31, 2011 represents the combined periods of January 1, 2011 through December 16, 2011 (Predecessor) and December 17, 2011 through December 31, 2011
(Successor). All periods ending after December 31, 2011 represent the Successor’s operations.
Total bookings . Total bookings represents gross cash receipts from the sale of products to customers in a given period before giving effect to certain
adjustments, primarily net refunds granted in the period. Total bookings provides valuable insight into the sales of our products and the performance of our
business since we typically collect payment at the time of sale and recognize revenue ratably over the term of our customer contracts. We report total bookings
without giving effect to refunds granted in the period because refunds often occur in periods different from the period of sale for reasons unrelated to the marketing
efforts leading to the initial sale. Accordingly, by excluding net refunds, we believe total bookings reflects the effectiveness of our sales efforts in a given period.
Total customers . We define total customers as those, as of the end of a period, having an active subscription. A single user may be counted as a customer
more than once if the user maintains active subscriptions in multiple accounts. Total customers is an indicator of the scale of our business and is a critical factor in
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 provides insight into our ability to sell additional products to customers, though the impact to date has
been muted due to our continued growth in total customers. The impact of purchase accounting adjustments makes comparisons of ARPU among historical periods
less meaningful; however, in future periods, as the effects of purchase accounting decrease, ARPU will become a more meaningful metric. See "Management’s
Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations—Revenue."
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