On 09/17/20, $U (Unity Software) priced its IPO at $52/share after filing its S-1 at a $34-42 price range. The stock traded up +31% on its first day, and has since traded up an additional 117%. Here's why I'm bullish on $U in the long-term:

$U provides a platform for creating and monetizing interactive 2D/3D games and other content. Unity's engine offers tools to create and edit digital content for easy deployment across 20+ platforms. It now powers over half of the world's games

Beyond gaming, $U is expanding into use cases such as autonomous driving simulations, interactive renderings of buildings, and virtual production for film & TV. $ADSK is also expanding into these spaces, so it'll be interesting to see if the two go head-to-head

$U continues to grow rapidly, reaching a $700+ million run-rate in the 1H20 at a 39% growth rate. Also, with a $12 billion TAM within its core gaming vertical alone, $U continues to enjoy significant upside potential

$U operates two main business segments: Create Solutions, which offers subscriptions to its content creation tools, and Operate Solutions, which help creators manage and monetize their content through ads and in-app purchases

As of 06/30/20, $U had 716 customers contributing over $100,000 in rev (74% of rev in aggregate) with a gross retention rate of 99% and dollar-based net retention of 142%; 8% of these customers are non-gaming

Plans to continue investing in R&D, a growing out of the salesforce, and iOS changes and their impact on Unity's monetization revenue could all be shorter-term headwinds for the company's share price

Additionally, currently trading at 43.3x EV/NTM rev, $U is within the top 5 of #SaaS #Cloud multiples as of Friday's (01/15/21) close. A high multiple + insider lock-up expiry 180 post IPO pricing in March may present short-term pricing pressure

However, with the continued growth around the online gaming space, and what is likely to be significant AR/VR growth in the next 5 years, $U is well-positioned to be a market leader, with a clear pathway for stock price appreciation in the years ahead

@GrowthStockInv1, feel free to chime in with anything I may have missed!