• Unity Software(NYSE:U)isup 2.2%after hours followingsecond-quarter earningswhere it topped consensus for revenues and profitability, andguided to the strong side of revenues for the current quarter and full year.
• Revenues rose 48% to $273.6 million, beating company guidance and Wall Street forecasts - its 11th straight quarter at 30%-plus growth.
• "While our strong performance is broad based, we are particularly proud of the performance from our Operate Solutions group that expanded market share in a tough environment," says Chief Financial Officer Luis Visoso.
• Revenue by segment: Create Solutions, $72.4 million (up 31%); Operate Solutions, $182.9 million (up 63%); Strategic Partnerships and Other, $18.3 million (up 9%).
• Operating loss narrowed on a non-GAAP basis to $3.2 million vs. a year-ago loss of $8.7 million.
• In operating metrics, it notes 888 customers each generated more than $100,000 in revenue over the trailing 12 months, vs. a year-ago 716. Its dollar-based net expansion rate was 142% (flat).
• Net cash used in operations was $26.7 million, vs. an operating inflow of $16.6 million a year ago. And free cash flow was -$33.5 million, vs. a year-ago $4.9 million. Liquidity was $1 billion vs. $0.5 billion a year ago.
• The company also has anagreement to acquire Parsec, a high-performance remote desktop and streaming technology company, for about $320 million in cash.
• And it'sadded Tory Burch's Keisha Smith-Jeremie to its board.
• Conference call to come at 5 p.m. ET.