Investing.com – Unity Software stock (NYSE:U) soared 15.9% in Friday trading after the gaming-engine company said its strong sales will continue in the current year as well, riding on “strong tailwinds” as clients transition to real-time 3D content.
Unity’s fourth-quarter revenue rose 43% to $316 million. Loss from operations widened to $144.8 million in the fourth quarter due to higher stock-based compensation expenses.
The company said its 2022 revenue could reach $1.5 billion, 36% growth on top of last year's growth of 44% to $1.1 billion. Adjusted loss from operations is seen narrowing to $40 million at center of its guidance range for the year.
In the year gone by, Unity added key capabilities and expanded its addressable market with acquisitions. Rising popularity of cross-platform and multiplayer games helped. More clients used its software to monetize their games. Outside of gaming, companies like Hyundai and eBay used its RT3D capabilities to drive productivity.
Number of customers generating more than $100,000 in revenue in the year rose to 1,052 compared to 793 in the previous trailing 12 months, the company said.
The company expects current-quarter revenue to come in between $315 million and $320 million, up 34%-36%. Adjusted loss from operations for the period is seen at $22 million-$23 million.