Unity Software Inc. (U) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 2, 2023 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Richard Davis

Welcome to the Unity's Second Quarter 2023 Earnings Call.

After the close of the market today, we issued our Shareholders Letter. That material is now available on our investor website at investors.unity.com.

Today, I'm joined by John Riccitiello, our CEO, President and Chairman; and by Luis Visoso, our CFO.

Before we begin, I want to note that today's discussion contains forward-looking statements, including statements about goals, business outlook, industry trends, market opportunities, expectations for future financial performance, and similar items, all of which are subject to risks, uncertainties, and assumptions. You can find more information about these risks and uncertainties in the risk factors section of our filings at sec.gov. Actual results may differ and we take no obligation to revise or update any forward-looking statements.

As in prior quarters, we will be providing both GAAP and non-GAAP financial measures. And unless otherwise noted, we will be speaking to the non-GAAP financial measures when describing our results. The Shareholder Letter and our filings on sec.gov include full GAAP to non-GAAP reconciliations.

Okay. Thank you very much. So, as we did last time, let's start off with two brief questions before we open up to regular Q&A.

So, for John, you've seen a lot of trends and cycles over your career. What are you kind of most excited about when you think about where Unity is today and where we're headed?

John Riccitiello

Well, first off, I want to congratulate my colleagues on delivering strong execution and a great quarter in our second fiscal quarter. Really appreciate it. Great work. Congratulations.

Now, when I look at Unity today, I really feel fantastic about the company and where it's heading. And there's a number of factors that make me feel great about Unity, both near term but really importantly, long term for revenue growth and profit growth in a way that's super healthy, and I believe we'll deliver in huge ways for our customers and our shareholders.

First, you've heard about Unity PolySpatial. Now it was great to be on stage with Apple at WWDC. Since then, we've seen substantial interest from our developers in the PolySpatial platform. And I think it represents another reason for developers to look to Unity to be the go-to platform for all real-time 3D development. We cover the platform better than anyone, and we cover them spectacularly well with new platforms as they come out. And a great example of that is what Apple just announced just recently.