Lee held, even in those few shares, were not worthwhile keeping. After being promoted to the Board's audit committee a year ago, whatever petty holding Ms. How many buys can you count on the table above? Actions Count More Than Wordsīefore we go much further, consider this. Recall, Unity paid more than 40% of its current market cap for ironSource, which is obfuscating its underlying growth trajectory. The problem here is that this acceleration comes from Unity's acquisition of ironSource in November 2022. Case in point, Q1 2023 is guided to grow by 50% y/y compared with Q4 2022 which reported 43% y/y growth rates. On the surface, we see that Unity's revenue growth rates are accelerating significantly. Revenue Growth Rates Require Interpretation Why has the stock been such a challenging investment? Back in 2022, the main impact on its business came from Apple's ( AAPL) change on its iOS preventing companies from targeting users.īut there's a much simpler story afoot. What's Happened In The Past Year?īefore we go further, I believe that it's important to remind readers of my position on U over the past year. stock now undervalued?įrom multiple angles, I recommend that investors avoid this name. With the share price down more than 20% since the buyback was completed, is Unity Software Inc. In Q4 2022, Unity's bought back $1.5 billion worth of stock at $35. What does this actually mean in practical terms? ( NYSE: U) has guided investors to $1 billion of EBITDA by 2024.
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