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Mar 31, 2023
Unity Q1 2023 Earnings Report
Unity had a strong start to the year, exceeding revenue and adjusted EBITDA guidance.
Key Takeaways
Unity reported a strong first quarter with revenue of $500 million, up 56% year-over-year. The company exceeded its revenue guidance and adjusted EBITDA also came in ahead of expectations. Unity is raising the low-end of its full-year revenue and adjusted EBITDA guidance ranges.
First quarter revenue was $500 million, up 56% year-over-year.
GAAP net loss was $254 million.
Adjusted EBITDA was $32 million, exceeding guidance.
The company is raising the low-end of its full-year revenue and adjusted EBITDA guidance ranges.
Unity
Unity
Unity Revenue by Segment
Revenue by Segment
Create Solutions Revenue
CapyFin.comGrow Solutions Revenue
CapyFin.com Forward Guidance
For the second quarter, revenue is guided to $510 to $520 million, an increase of 72% to 75% year-over year and adjusted EBITDA from $50 to $60 million. The revenue guide for the year is $2.08 to $2.2 billion, an increase of 50% to 58% year-over year and the adjusted EBITDA guide is $250 to $300M.
Positive Outlook
- Revenue is guided to $510 to $520 million, an increase of 72% to 75% year-over year.
- Adjusted EBITDA is guided from $50 to $60 million.
- Revenue guide for the year is $2.08 to $2.2 billion, an increase of 50% to 58% year-over year.
- Adjusted EBITDA guide for the year is $250 to $300M.
- The ads market will be relatively flat quarter-over-quarter and that Unity will continue to gain share and perform ahead of the market.
Challenges Ahead
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis.
- The guidance is taking into account the stronger than expected first quarter and the ongoing uncertain economic environment.
- The shares estimates do not include the impact of any additional share buyback.
- Uncertainty of expenses that may be incurred in the future and cannot be reasonably determined or predicted at this time
- These factors could be material to Unity’s results computed in accordance with GAAP.
Revenue & Expenses
Visualization of income flow from segment revenue to net income