Unity Software delivered an all-around beat in the last quarter and saw strong user growth and DAUs in its network. It witnessed a relatively resilient macro environment which resulted in the growth in revenue. The ads market is now stable and the company has a very healthy gross margin as a result of the same. It was a one-off profitable quarter for the company with improving market share across platforms. Its Weta and Ziva are coming to market in the near future. Unity Software is seeing a lot of demand and interest in digital twins. The integration ironSource at Unity has also been going well. It is working on bringing more customers onto the platform. The company is engineering the supersonic indoor editor in order to make it an easy platform for its customers to directly take their products to market without leaving the environment. They also expanded their partnership with Google to help studios speed up the growth and development of their live games. We give Unity Software a ‘Hold’ rating with a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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