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Sep 30, 2021
Unity Q3 2021 Earnings Report
Reported a 43% year-over-year revenue increase and announced intent to acquire Weta Digital.
Key Takeaways
Unity's Q3 2021 revenue reached $286.3 million, a 43% increase year-over-year, exceeding expectations. The company raised its full-year revenue guidance and announced the acquisition of Weta Digital to enhance its platform with advanced VFX tools.
Revenue was $286.3 million, an increase of 43% from the third quarter of 2020.
Create Solutions and Operate Solutions revenue was $83.7 million and $185.0 million, respectively, an increase of 34% and 54%, respectively, from the third quarter of 2020.
Basic and diluted net loss per share was $0.41, compared to basic and diluted net loss per share of $0.97 in the third quarter of 2020.
Dollar-based net expansion rate as of September 30, 2021 was 142% as compared to 144% as of September 30, 2020.
Revenue by Segment
Forward Guidance
Unity is providing the following guidance for the fourth quarter and raising guidance for the full year ending December 31, 2021.
Positive Outlook
- Q4 2021 Revenue Guidance: $285 - $290 million
- 2021 Revenue Guidance: $1,080 - $1,085 million
- Q4 2021 Year-over-year revenue growth: 29% - 32%
- 2021 Year-over-year revenue growth: 40%
- Fully diluted shares outstanding: 329M
Challenges Ahead
- Q4 2021 Non-GAAP loss from operations: ($20) - ($25) million
- 2021 Non-GAAP loss from operations: ($59) - ($64) million
- Q4 2021 Non-GAAP operating margin: (7%) - (9%)
- 2021 Non-GAAP operating margin: (5%) - (6%)
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future
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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