Even though I sold Unity shares in my personal portfolio, @brianferoldi and I continue to hold them in our portfolio here on Commonstock. Here's a review of the company's most recent quarter.

Overall, topline growth was nice, but I was VERY frustrated to have media NOT factor out the role that IronSource played in that top line growth

Operating margins were headed in the right direction on a non-GAAP basis, but the company continues to lose money on an accrual (net income) and free cash flow basis

This was a bright spot: areas outside of gaming continue to adopt Unity Create -- especially digital twins

But my oh my is Stock based compensation big. Acquisitions play a huge role in this

Over just two years, shareholders are going to be diluted by about 30% (the inverse of a 43% increase in shares)

One reason the stock is trending down -- guidance was well short of expectations. Management said they were being prudent in NOT expecting a recovery in in-game advertising during the year

Here's what we'll be watching moving forward

What did you think of the quarter?