Unity Software Inc (NYSE: U) stock surged over 8.1% on August 11th, 2021 (as of 11:26:52 AM UTC-4 · USD ; Source; Google finance) as the company posted better than expected results for the second quarter of FY 21. In the second quarter 2021, Unity added three new automotive manufacturers and also began to work with several consumer product brands, including an eyewear manufacturer and retailer, and an appliance manufacturer known for their advanced designs. Additionally, Unity is getting traction in new markets, including a new contract with The Nature Conservancy to utilize RT3D digital technologies to convey information about water usage in New York state. Further, in the second quarter, U had acquired long-time partner Metaverse Technologies, Inc., providers of PIXYZ, the 3D data preparation and optimization software. The acquisition means professional creators can more easily and quickly import 3D data into Unity and optimize models for real-time development. In July 2021, the company had acquired Interactive Data Visualization, Inc., the creator of the popular SpeedTree environment creation suite. The acquisition enables a deeper integration of SpeedTree into the Unity ecosystem, enhancing artist authoring workflows and environment creation capabilities. The company generated Non-GAAP loss from operations of $3.2 million, or 1% of revenue, compared to a non-GAAP loss from operations of $8.7 million, or 5% of revenue, in the second quarter of 2020. Cash, cash equivalents, and restricted cash were $1.0 billion as of June 30, 2021, compared to $0.5 billion as of June 30, 2020.
U in the second quarter of FY 21 has reported the adjusted loss per share of 2 cents, beating the analysts’ estimates for the adjusted loss per share of 13 cents. The company had reported the adjusted revenue growth of 48 percent to $273.6 million in the second quarter of FY 21, beating the analysts’ estimates for revenue of $243.07 million. 888 customers each generated more than $100,000 of revenue in the trailing 12 months as of June 30, 2021, compared to 716 as of June 30, 2020.
Unity Software Inc. expects Q3 2021 revenue to be in the range of $260-265 million, versus the consensus of $253.91 million. Non-GAAP loss from operations in Q3 2021 is expected to be in the range of ($15) — ($20) million.
Unity Software Inc. expects FY2021 revenue to be in the range of $1.045-1.06 billion, versus the consensus of $1.01 billion. Non-GAAP loss from operations in FY 2021 is expected to be in the range of $55) — ($65) million.