Eye of the Beholder List:
Unity Software - Platform for creating and operating interactive, real time 3D content
U Announced First QTR 2022 Earnings Today:
Company delivered record quarter with $320 million in revenue during the first quarter of 2022, up 36% year-over-year. This was a MISS: Oh POOP!
"with Create over-performing at 65% year-on-year growth, offset by slower growth in Operate,”…uh…Going with Oh POOP!
Loss from operations was $171.2 million, or 53% of revenue, compared to loss from operations of $110.9 million, or 47% of revenue, in the first quarter of 2021: Big OH POOP!
Non-GAAP loss from operations was $23.0 million, or 7% of revenue, compared to a non-GAAP loss from operations of $23.4 million, or 10% of revenue, in the first quarter of 2021: ATTA BOY!
Basic and diluted non-GAAP net loss per share was $0.08, compared to basic and diluted non-GAAP net loss per share of $0.10 in the first quarter of 2021: ATTA BOY!
1,083 customers each generated more than $100,000 of revenue in the trailing 12 months as of March 31, 2022, compared to 837 as of March 31, 2021: ATTA BOY!
Dollar-based net expansion rate as of March 31, 2022 was 135% as compared to 140% as of March 31, 2021: Light OH POOP!
Free Cash Flow in the first quarter of 2022 was $86.4 million, compared to $(100.6) million for the same period last year: ATTA BOY.
Unity (U) forecast sharply slowing growth for the second-quarter, saying it expects sales to be between $290 million and $295 million, compared to estimates of $359.65 million. At the low end, that would represent just 6% year-over-year growth, compared to 36.3% growth in the first quarter: Huge OH POOP!
For the full-year, Unity (U) expects sales to be within a range of $1.35 billion and $1.425 billion, compared to estimates of $1.49 billion, implying revenue will grow between 22% and 28% year-over-year: OH POOP!
Market Opinion: Stock Down -32+% During After Hours: OMG OH POOP!
U ER SCORE: ATTA BOYs 7/OH POOPs 4
List and Ranking Assignment: Naughty #4
Note: For those Readers who follow the Mongolian Rating System (MRS) this report is the equivalent of: Black Tent.
All the Best,