Other trade names, trademarks, and service marks are the property of their respective owners. So that's the $50 million I mentioned in my prepared remarks, Matt. This is why we acquired Weta last year. We define free cash flow as net cash provided by (used in) operating activities less cash used for purchases of property and equipment. These are very small sets of data points on the scale and scope of gaming with Unity. We created a venture with investments from a number of leading technology companies, including Alibaba, China Mobile, GBs,Oppo, PCI Tech and Doujin Group at the evaluation for Unity China of $1 billion. Revenue of $297 million is up 9% year over year and slightly above guidance of $290 million to $295 million. A single organization with multiple divisions, segments, or subsidiaries is generally counted as a single customer, even though we may enter into commercial agreements with multiple parties within that organization. And then the last part that I'll just sort of add on top of what John said is this is a real place where our Accelerate Solutions team has been incredibly powerful because these -- many times, we have companies coming to us just getting started in their journey of transformation around real-time 3D. We utilize a fixed annual projected tax rate in our computation of non-GAAP income tax effects to provide better consistency across interim reporting periods. With that, let me turn the call over to John. Our 12-month trailing net dollar expansion rate came in at 121%, down from 142% last year. In the near term, I think some places where you'll see it first are areas like DevOps. With that, let me turn the call back to John. A few weeks ago, we announced Unity and IronSource intend to join forces and will combine creation and growth into a single platform to increase creators' success. And in addition to providing eg plus with the technology required for the internal development teams to create real-time 3D content, we're going to be working with them on many projects such as designing the next-generation real-time 3D product configurators for a leading auto manufacturer. Recently, we entered into an agreement with some of our leading partners in China to form a new joint venture that work on in Unity China. According to the press release, Unity saw a number of wins across its operations and reporting in . And we remain a majority shareholder and control the board. We continue to invest to strengthen our products with additional features that we expect will get our third and fourth quarter through stronger footing. And you can see that in tools like Forma, which is used for a lot of product configurators and auto and other spaces to reflect in visual live, which are used around architecture, engineering and construction to other tools that we have like Pyxis, which is about how do we manage large amounts of 3D data, which is extraordinarily common problem in that space. Customers Contributing More Than $100,000 of Revenue. If the data quality and pin pointer issues hadn't occurred earlier in the year, would operate revenue have been at the 160 level you reported this quarter just because of macro? And now we're in a position to catch them fast and fix them as we go along and not suffer the kinds of challenges we had earlier in the year. Relative to the current share price of N3.46 and Q3'21 earnings per share of N0.16, P.E ratio of the bank is calculated as 21.63x. Our dollar-based net expansion rate as of a period end is calculated as current period revenue divided by prior period revenue. With this agreement, Uniti is now an integral partner of one of the world's leading and most storied automotive OEMs. And so that's not high in our playbook, and it never will be hurting our playbook. Together, Mercedes-Benz and Unity are taking next-generation user interaction such as Maps, Avatars and AI Concierges and in-car entertainment to a new level by implementing on a real-time 3D engine. Unity is one of the oldest yet fastest growing software companies out there. Again, it's a space that's very different when you're talking about 3D assets. For the year ended December 31, 2021, the non-GAAP tax rate was (22)%. We define non-GAAP gross profit as gross profit excluding stock-based compensation expense, employer tax related to employee stock transactions, and amortization of acquired intangible assets expense. Non-GAAP net loss and non-GAAP net loss per share have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. We will also be discussing non-GAAP financial measures today and reconciliations between our GAAP and non-GAAP financial results and the discussion and limitations of our non-GAAP financial measures, can be found in our earnings press release, which was issued earlier today and is available on our website under the Investor Relations tab on the appendix to this call slide deck. You must click the activation link in order to complete your subscription. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. And that's just basically a philosophy of ours as we would rather focus on the things we did wrong or right, more so than the macro environment when it's working against us. Last quarter, in addition to external factors, such as the competitive landscape, we identified two separate yet interrelated issues that impacted our monetization business. John Riccitiello -- President, Chief Executive Officer, and Executive Chairman. Customers Contributing More Than $100,000 of Revenue. A quarter ago, it was expected that this bank holding company would post earnings of $0.81 per share when it actually produced earnings of $0.85, delivering a surprise of 4.94%.Over the last four . We will continue to launch customer meaningful features in the back half of the year that aim to improve our customers' return on ad spend. So -- the reason we're seeing the gain as a percentage of our business, more customers, larger customers land and expand. This is necessary given the long-term growth of real-time 3D, and it's also a significant opportunity for TAM expansion for Unity by serving the needs of these creators. On operate, just to zoom in a little bit here. The transaction is subject to customary closing conditions, which we expect to complete within the next few weeks. the expenses and other items that we exclude in our calculation of non-GAAP net loss and non-GAAP net loss per share may differ from the expenses and other items, if any, that other companies may exclude from this measure or similarly titled measures, which reduces their usefulness as comparative measures. That's a powerful business proposition, and we plan to take more of our platform in that direction in coming years. Here's what investors need to know about the announcement. And you've seen that reported out by a number of game companies where a little bit less revenue from bringing down some forecasts. And frankly, just there's so many more industries out there for whom real-time 3D answer. Operated revenue of $159 million is down 13% year-over-year. And after we receive sufficient input and validation from our community of creators, we land those capabilities as the next long-term stable release. https://www.businesswire.com/news/home/20220510005640/en/, Investor Relations: We're approaching $0.5 billion yearly run rate and growing at a healthy pace, and I believe that we are just getting started. That's a mouthful. And we're seeing second and third deals with the same customers. Today, we will go deeper into our results and projections. We believe we are in the early stages of one of the largest transformations in tech: the move to real-time 3D. We define non-GAAP loss from operations as loss from operations excluding stock-based compensation expense, employer tax related to employee stock transactions, amortization of acquired intangible assets expense, and costs incurred from a legal entity reorganization in China. Moving on to guidance. We couldn't be more excited about the opportunity in front of us, and we're prosecuting on that front as best we can. Starting with the data quality issue, this one is behind us. Before we dive in, I want to address what everyone is aware of, the AppLovin proposal. I would provide further details in a minute. We define non-GAAP net loss and non-GAAP net loss per share as net loss and net loss per share excluding stock-based compensation expense, employer tax related to employee stock transactions, amortization of acquired intangible assets expense, costs incurred from a legal entity reorganization in China, acquisition-related costs, restructuring charges, and a one-time expense for the termination of a future lease agreement, as well as the related tax effects of these items. Actual results may and we take no obligation to revise or update any forward-looking statements. We continue to be commencing non-GAAP breakeven profitability in the fourth quarter of this year despite the lower revenue expectations. ryan.wallace@unity3d.com, Internet Explorer presents a security risk. You can find more information about these risks and uncertainties in the Risk Factors section of our filings at sec.gov and the press release we issued this morning. So they're winning and they're coming on to the platform in a bigger way than they were a year ago or we feel great about the trend line. Apple's Q4 earnings per share (EPS) is estimated by analysts to reach $1.27 vs. $1.24 in Q4 FY 2021. And over almost any three-year time period, you see double-digit growth, typically averaging out the change or better. It's already a decent sized business. Unity Software Inc. (U) Q2 2022 Earnings Call Transcript By Motley Fool Transcribing - Aug 10, 2022 at 12:01AM You're reading a free article with opinions that may differ from The Motley. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The video webcast is scheduled to begin at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time and can be accessed at the Unity Investor Relations website at investors.unity.com. And we are seeing acceleration in our business outside of games with big wins across industries and geographies. The business delivered approximately $50 million in revenue in 2021. Unconfirmed. A few weeks ago, we published a case study with AXL bot studios for Standard 2, a first-person shooter with millions of players, illustrating how they self-serve integrated voice chat from VVOX four years after their mobile games launched to supercharge their in-game community and gain a 63% increase in day 90 player retention. And EBITDA are useful in evaluating our operating performance 360 million fully diluted at. 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