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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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