Unity Software Inc (U) 2022 Q1 法說會逐字稿

I would like to remind participants that during this conference call, we will be making forward-looking statements, including statements about goals, business outlook, industry trends, market opportunities, expectations for future financial performance and similar items, all of which are subject to risks, uncertainties and assumptions. You can find more information about these risks and uncertainties in the Risk Factors section of our filings at sec.gov. Actual results may differ. We take no obligation to revise or update any forward-looking statements.

我想提醒與會者，在本次電話會議期間，我們將做出前瞻性陳述，包括關於目標、業務前景、行業趨勢、市場機會、對未來財務業績的預期和類似項目的陳述，所有這些都受制於風險、不確定性和假設。您可以在我們提交給 sec.gov 的文件的“風險因素”部分找到有關這些風險和不確定性的更多信息。實際結果可能有所不同。我們不承擔修改或更新任何前瞻性陳述的義務。

We will also be discussing our non-GAAP financial measures today and reconciliations between our GAAP and non-GAAP financial results. And discussions of limitations of non-GAAP financial measures can be found in the Investor Relations website.

我們今天還將討論我們的非 GAAP 財務指標以及我們的 GAAP 和非 GAAP 財務結果之間的對賬。可以在投資者關係網站上找到關於非公認會計原則財務措施限制的討論。

With that, let me turn it over to John.

有了這個，讓我把它交給約翰。

So good afternoon, everyone. Thanks, Richard. And I'm going to start launching into our script today.

大家下午好。謝謝，理查德。我今天將開始啟動我們的腳本。

Before discussing earnings, I want to express our sincere thoughts for the people of Ukraine and hope that there's a peaceful resolution to the conflict as soon as possible.

在討論收益之前，我想表達我們對烏克蘭人民的真誠想法，並希望盡快和平解決衝突。

Our report today is a tale of 2 cities. First, we experienced challenges in Monetization that negatively affected revenue in February and March, and that persists through the third quarter with minimal impact on the fourth. Second, we continue to perform very well in Create, both with our gaming customers and with our nongame digital twins business, where we saw meaningful growth, a trend we expect to continue.

我們今天的報告是關於 2 個城市的故事。首先，我們在貨幣化方面遇到了挑戰，這對 2 月和 3 月的收入產生了負面影響，並且持續到第三季度，對第四季度的影響很小。其次，我們在 Create 方面繼續表現出色，無論是在我們的遊戲客戶還是在我們的非遊戲數字孿生業務方面，我們都看到了有意義的增長，我們預計這一趨勢將繼續下去。

For the total company, revenue of $320 million was up 36% from a year earlier and came in at the top end of our guidance range. Upside with the forecast in Create was offset by challenges in Operate's Monetization business. Non-GAAP operating margin of minus 7.2% improved 280 basis points from the first quarter of last year as we continued to invest in innovation to capture the very large opportunity in front of us while improving non-GAAP operating margins.

對於整個公司而言，3.2 億美元的收入比去年同期增長了 36%，處於我們指導範圍的高端。 Create 預測的上行空間被 Operate 貨幣化業務的挑戰所抵消。非 GAAP 營業利潤率為負 7.2%，比去年第一季度提高了 280 個基點，因為我們繼續投資於創新以抓住擺在我們面前的巨大機遇，同時提高非 GAAP 營業利潤率。

I'd like to address our Operate business first. Operate started the year strong in January but then significantly slowed down in February and March. This resulted in first quarter revenue of $184 million, an increase of 26% year-on-year. While there are external factors to consider, the Operate challenge is mostly caused by internal factors in Unity Monetization in an otherwise healthy market. We see these challenges as temporary and not structural and do not expect them to impact future prospects of our business beyond 2022.

我想先談談我們的運營業務。運營在 1 月份開始強勁，但隨後在 2 月和 3 月顯著放緩。這導致第一季度收入為 1.84 億美元，同比增長 26%。雖然有外部因素需要考慮，但運營方面的挑戰主要是由 Unity Monetization 在原本健康的市場中的內部因素造成的。我們認為這些挑戰是暫時的，而不是結構性的，並且預計它們不會影響我們 2022 年以後業務的未來前景。

The most succinct framing for the challenges we are facing is that we built more for growth and less for resiliency. Following years of rapid growth and working through the challenges of Apple's privacy changes, we got hit hard by 2 issues. The first was a fault in our platform that resulted in reduced accuracy for our Audience Pinpointer tool, a revenue-expensive issue given that our Pinpointer tool experienced significant growth post the IDFA changes.

對於我們所面臨的挑戰，最簡潔的框架是，我們為增長而建的更多，而為彈性而建的更少。經過多年的快速增長和應對 Apple 隱私變化帶來的挑戰，我們遇到了 2 個問題。第一個是我們平台中的一個故障，導致我們的 Audience Pinpointer 工具的準確性降低，這是一個收入昂貴的問題，因為我們的 Pinpointer 工具在 IDFA 更改後經歷了顯著增長。

The second is that we lost the value of a portion of our data -- training data, due in part to us ingesting bad data from a large customer. We estimate the impact to our business of approximately $110 million in 2022 with no carryover impact to 2023. Luis will provide a more granular update to our guidance in a few minutes.

第二個是我們失去了一部分數據的價值——訓練數據，部分原因是我們從一個大客戶那裡攝取了不良數據。我們估計 2022 年對我們業務的影響約為 1.1 億美元，不會對 2023 年產生結轉影響。Luis 將在幾分鐘內對我們的指導進行更詳細的更新。

Here, I will provide a deeper explanation of the specific revenue impacts. First, we have a direct near-term impact resulting from the 2 issues I just mentioned, affecting the first and second quarters. Second, we expect the recovery to go through steps in sequence, data rebuilding, model training and improvement, and then revenue recovery as our customers scale up further on Unity Monetization. And third, as a consequence of reprioritizing work in our teams to thoroughly address the resiliency and data training issues, we delayed the launch of certain revenue-driving features such as mediation, header bidding and new releases for Audience Pinpointer versus our original plan.

在這裡，我將對具體的收入影響進行更深入的解釋。首先，我剛才提到的兩個問題對我們有直接的短期影響，影響第一季度和第二季度。其次，隨著我們的客戶在 Unity Monetization 上進一步擴大規模，我們預計恢復將依次經歷數據重建、模型訓練和改進，然後是收入恢復。第三，由於我們重新調整了團隊工作的優先級以徹底解決彈性和數據訓練問題，我們推遲了某些收入驅動功能的發布，例如針對 Audience Pinpointer 的中介、標頭競價和新版本，而不是我們最初的計劃。

We understand the problems, and we are well advanced in addressing them. We are deploying monitoring, alerting and recovery systems and processes to promptly mitigate future complex data issues. We are strengthening and innovating our Audience Pinpointer product, and we are already scaling Unity Mediation. Once done, we should be ahead of where we were at our very best.

我們了解這些問題，並且在解決這些問題方面取得了很大進展。我們正在部署監控、警報和恢復系統和流程，以迅速緩解未來的複雜數據問題。我們正在加強和創新我們的 Audience Pinpointer 產品，並且我們已經在擴展 Unity Mediation。一旦完成，我們應該領先於我們處於最佳狀態的地方。

We have the right strategy to address today's challenges, and we have the right talent that has overcome many challenges in the past and come out ahead. We are on it.

我們擁有應對當今挑戰的正確戰略，我們擁有克服過去許多挑戰並取得領先的合適人才。我們正在努力。

None of this takes away from our fundamental competitive advantage with Unity Monetization. The advantage is based on the fact that a strong majority of games are built with the Unity engine and analytics. We have proprietary data and insights coming from our reach to over 3 billion monthly active users feeding our contextual models. We have deep context about game play, what players like to play, when and how they play games. And in gaming, this data has proven to be the most relevant for advertising.

這一切都不會影響我們通過 Unity Monetization 獲得的基本競爭優勢。優勢在於絕大多數遊戲都是使用 Unity 引擎和分析構建的。我們擁有來自超過 30 億月度活躍用戶的專有數據和見解，為我們的上下文模型提供支持。我們對遊戲玩法、玩家喜歡玩什麼、他們何時以及如何玩遊戲有著深入的了解。在遊戲中，這些數據已被證明與廣告最相關。

We have strong conviction of long-term strength and growth of the in-game advertising business. First, the games industry is the largest and most engaged audience of any form of media today with more than 4 billion monthly active users that we expect will continue to grow in scale and engagement. Second, less than 3% of players pay for their games. So an ad-supported model that is based on performance outcomes will always be a major part of the business model for game developers, and there remains substantial opportunity for increased ad exposure in gaming. As a comparison, TV has approximately 8 minutes of ads per hour of prime time. In comparison, we estimate that gamers see an average of 4 minutes of ads per hour of game play. Third, and as we've proven for years, in-game advertising works. Based on this understanding of the gaming ad sector and on Unity's durable competitive advantage, we believe that Unity Monetization is an attractive, growing and durable business for the long term.

我們堅信游戲內廣告業務的長期實力和增長。首先，遊戲行業是當今任何形式媒體中最大且參與度最高的受眾，每月活躍用戶超過 40 億，我們預計這些用戶的規模和參與度將繼續增長。其次，不到 3% 的玩家為他們的遊戲付費。因此，基於性能結果的廣告支持模型將始終是遊戲開發者商業模式的主要部分，並且仍有大量機會增加遊戲中的廣告曝光率。作為比較，電視黃金時段每小時大約有 8 分鐘的廣告。相比之下，我們估計遊戲玩家每小時玩遊戲平均會看到 4 分鐘的廣告。第三，正如我們多年來證明的那樣，遊戲內廣告是有效的。基於對遊戲廣告行業的理解以及 Unity 持久的競爭優勢，我們認為 Unity 貨幣化是一項具有吸引力、不斷增長且持久的長期業務。

To close the Operate discussion, we're very excited about Unity Gaming Services or UGS going into general availability by July. UGS is our self-serve cloud platform that enables developers to operate and optimize their games and includes our Multiplay business. Since its beta launch in October, we've seen more than 74,000 organization sign-ups with over 68,000 completed, which is more than a 90% conversion rate. And we already see that 30% of those new users are leveraging multiple products within the system. We are encouraged by these early adoption signals and feedback from our customers.

為了結束 Operate 討論，我們對 Unity Gaming Services 或 UGS 將於 7 月全面推出感到非常興奮。 UGS 是我們的自助式雲平台，讓開發者能夠運營和優化他們的遊戲，包括我們的 Multiplay 業務。自 10 月份推出 Beta 版以來，我們已經看到超過 74,000 個組織註冊，完成了 68,000 多個，轉化率超過 90%。我們已經看到，這些新用戶中有 30% 正在利用系統內的多種產品。我們對這些早期採用信號和客戶的反饋感到鼓舞。

Moving on to Create. We are very pleased with the momentum of our Create business, not just this quarter but the momentum we are building with our customers. Create delivered a very strong first quarter with $116 million in revenue, an increase of 65% from last year's first quarter. Our progress in Create is deep and broad as more creators in more industries adopt real-time 3D.

繼續創建。我們對 Create 業務的勢頭感到非常滿意，不僅是本季度，還有我們與客戶共同建立的勢頭。 Create 的第一季度表現非常強勁，收入為 1.16 億美元，比去年第一季度增長 65%。隨著更多行業的更多創作者採用實時 3D，我們在 Create 方面的進步是深刻而廣泛的。

In March, we shipped Unity's 2021 long-term support version of our Editor. This version delivers powerful improvements to creator workflows. A great example is our integration of visual scripting that enables creators to make content without having to write a single line of code. We added new rendering capabilities across all devices through our universal rendering pipeline, and we enabled higher-fidelity graphics across devices with our high-definition render pipeline. We shipped numerous improvements to developer workflows, focusing on performance and iteration time, reducing the time to create. We have added new features to our world-building tools and enhanced artist-friendly tools like our powerful VFX Graph, Shader Graph and Cinemachine tools. We expanded our already world-leading platform support, adding in Google Chrome OS as a platform, and we added Apple Silicon support for the Editor.

3 月，我們發布了 Unity 的 2021 年編輯器長期支持版本。此版本為創建者工作流程提供了強大的改進。一個很好的例子是我們集成了可視化腳本，它使創作者無需編寫任何代碼即可製作內容。我們通過通用渲染管道在所有設備上添加了新的渲染功能，並通過我們的高清渲染管道在設備上啟用了更高保真度的圖形。我們對開發人員工作流程進行了許多改進，重點關注性能和迭代時間，從而減少了創建時間。我們為我們的世界構建工具和增強的藝術家友好工具添加了新功能，例如我們強大的 VFX Graph、Shader Graph 和 Cinemachine 工具。我們擴展了我們已經世界領先的平台支持，添加了 Google Chrome OS 作為平台，我們添加了對編輯器的 Apple Silicon 支持。

We are focused on constantly improving our tools for real-time 3D creators of all types. In fact, just today, we shipped the latest release of the 2022 Tech Stream, enabling game customers that are early in their production life cycle with more tools for editor extensibility, productivity, platform optimizations, rendering capabilities, performance insights and other key new features.

我們專注於為所有類型的實時 3D 創作者不斷改進我們的工具。事實上，就在今天，我們發布了 2022 Tech Stream 的最新版本，為處於生產生命週期早期的遊戲客戶提供了更多用於編輯器可擴展性、生產力、平台優化、渲染功能、性能洞察和其他關鍵新功能的工具.

Unity is the leading tool in service for game creators of any size to deliver their ambitions. The flexibility in multi-platform capabilities we provide are often critical unlocks for our customers in allowing them to deliver against their own vision.

Unity 是為任何規模的遊戲創作者提供服務的領先工具，可以實現他們的抱負。我們提供的多平台功能的靈活性對於我們的客戶來說通常是關鍵的解鎖，讓他們能夠根據自己的願景進行交付。

Let's start with our game customers. Here's a few interesting examples. Zenith: The Last City by Ramen VR has been a runaway hit on virtual reality. This title is a multi-platform, massively multiplayer online role-playing game for virtual reality where players explore an anime-inspired world on Meta Quest, Meta Rift, PlayStation VR and stand-alone VR devices. Ramen VR relied on Unity for our VR capabilities as well as our advanced data-oriented technology stack or DOTS. Based on their success, they are now growing their team to bring the game to even more platforms, including PC and web. This is something we see frequently with our Unity game customers, where our facility with multi-platform capabilities enables creators to find success and rapidly expand to more users and devices.

讓我們從我們的遊戲客戶開始。這裡有幾個有趣的例子。 Zenith: The Last City by Ramen VR 在虛擬現實領域大獲成功。這個標題是一個多平台、大型多人在線虛擬現實角色扮演遊戲，玩家在 Meta Quest、Meta Rift、PlayStation VR 和獨立 VR 設備上探索動漫風格的世界。 Ramen VR 依靠 Unity 提供我們的 VR 功能以及我們先進的面向數據的技術堆棧或 DOTS。基於他們的成功，他們現在正在壯大團隊，將游戲帶到更多平台，包括 PC 和網絡。這是我們在 Unity 遊戲客戶中經常看到的情況，我們具有多平台功能的設施使創作者能夠獲得成功並迅速擴展到更多用戶和設備。

Another exciting title on DOTS and shipping this quarter is Syberia: The World Before, the fourth edition of the Syberia series that launched to critical acclaim for PC, PlayStation and Xbox and soon on Nintendo Switch. This title boasts huge and varied environments and more than 6 hours of stunning cinematics made possible utilizing our high-definition render pipeline.

DOTS 和本季度發售的另一個令人興奮的標題是 Syberia：The World Before，這是 Syberia 系列的第四版，在 PC、PlayStation 和 Xbox 上廣受好評，不久將在 Nintendo Switch 上推出。這個標題擁有巨大而多樣的環境和超過 6 小時的令人驚嘆的過場動畫，使用我們的高清渲染管道成為可能。

Many large publishers use Unity to create and sustain mobile versions of their games. This quarter, 2 great examples of this: Angry Birds brought back Angry Birds Classic to mobile app stores using Unity to relaunch this treasured game and easily make it work across multiple modern devices. And Ubisoft used Unity to deliver incredible visuals and fast game play in Rainbow Six Mobile. One final example, back to virtual reality. StatusPRO unveiled the first true NFL football game for VR with NFL Pro Era, enabled by Unity. These are just a few examples of the thousands of Unity games that launched on console, PC, web, XR and Mobile this quarter.

許多大型發行商使用 Unity 來創建和維護其遊戲的移動版本。本季度有 2 個很好的例子：憤怒的小鳥使用 Unity 將 Angry Birds Classic 帶回移動應用商店，重新推出這款珍貴的遊戲並輕鬆使其在多種現代設備上運行。 Ubisoft 使用 Unity 在《彩虹六號手游》中提供了令人難以置信的視覺效果和快速的遊戲體驗。最後一個例子，回到虛擬現實。 StatusPRO 推出了第一款真正的 NFL 橄欖球遊戲，採用 NFL Pro Era，由 Unity 支持。這些只是本季度在控制台、PC、網絡、XR 和移動設備上推出的數千款 Unity 遊戲中的幾個示例。

Moving on to our work with artists. We are focused on delivering the most important tools for creating in 3D, whether in media and entertainment, games or digital twins. In January, we officially transitioned the incredible team from Weta Digital to Unity. And since then, we have been making significant progress in 3 specific areas. First, we continue to push beyond the edge of what is possible to deliver in visualization and simulation. We bought Weta Digital not just for a great set of tools that have been developed over the last 20 years, but specifically for their incredible experts and what they would do next. As you may have seen with a trailer for Avatar 2 released on May 6, these tools continue to set the standard for the art of the possible.

繼續我們與藝術家的合作。我們專注於提供最重要的 3D 創作工具，無論是媒體和娛樂、遊戲還是數字孿生。一月份，我們正式將這支令人難以置信的團隊從 Weta Digital 過渡到 Unity。從那時起，我們在 3 個特定領域取得了重大進展。首先，我們繼續超越可視化和模擬的可能性。我們購買 Weta Digital 不僅是因為過去 20 年來開發的一套出色的工具，還特別是為了他們出色的專家以及他們接下來會做什麼。正如您可能在 5 月 6 日發布的《阿凡達 2》預告片中看到的那樣，這些工具繼續為可能的藝術設定標準。

Second, we are focused on building the framework for interoperability required to deliver these tools for more artists and for more use cases. In support of this, the team has been developing an end-to-end USD-based workflow, the first of its kind, replacing Katana-based workflows, while we've also been evolving the USD spec to support performant procedural data primitives as well as physical camera and light standardization. In addition, we have been working to deliver a cloud-based render solution for the pipeline, delivering millions of hours of render time to Weta FX per week. This is foundational work in building critical capabilities for artists and new revenue streams for Unity.

其次，我們專注於構建為更多藝術家和更多用例提供這些工具所需的互操作性框架。為了支持這一點，團隊一直在開發一個端到端的基於 USD 的工作流程，這是同類中的第一個，取代了基於 Katana 的工作流程，同時我們也一直在發展 USD 規範以支持高性能的程序數據原語以及物理相機和燈光標準化。此外，我們一直致力於為管道提供基於雲的渲染解決方案，每週為 Weta FX 提供數百萬小時的渲染時間。這是為藝術家構建關鍵能力和為 Unity 建立新收入來源的基礎性工作。

Finally, we are focused on the work to bring these tools to real time. We will be talking about some of these steps in this area at SIGGRAPH in August.

最後，我們專注於將這些工具帶入實時的工作。我們將在 8 月的 SIGGRAPH 上討論該領域的一些步驟。

Beyond Weta Digital, our art tools like Ziva and SpeedTree continue to make rapid progress. In Q1, we shipped SpeedTree 9 and Ziva VFX 2.0, delivering more capabilities in both games and media and entertainment. We see significant traction with these tools in games like Halo Infinite and movies like Dune, users of our Ziva Dynamics technology and winners of 6 Academy Awards, including the Oscar for Best Visual Effects. Keep an eye out for those sandworms.

除了 Weta Digital，我們的 Ziva 和 SpeedTree 等藝術工具繼續取得快速進展。在第一季度，我們發布了 SpeedTree 9 和 Ziva VFX 2.0，在遊戲、媒體和娛樂方面提供了更多功能。我們在 Halo Infinite 等遊戲和 Dune 等電影、我們 Ziva Dynamics 技術的用戶以及包括奧斯卡最佳視覺效果獎在內的 6 項奧斯卡獎得主中看到了這些工具的巨大吸引力。留意那些沙蟲。

One more note on Ziva. In the first quarter, we received more than 8,000 sign-ups in a multitude of cloud uploads for our beta of Ziva Faces. This service enables artists to use advanced machine learning models and massive data to train meshes for full expressiveness instead of requiring teams of artists to spend weeks doing manual rigging. This is an extraordinary and expeditious result that speaks to our goal to make 3D art in media, games and everywhere 10x easier, 10x faster and 10x cheaper than it is today. We have more work to do, but we're gratified to see all this early traction.

關於 Ziva 的另一個說明。在第一季度，我們收到了 8,000 多個雲上傳的 Ziva Faces 測試版註冊用戶。這項服務使藝術家能夠使用先進的機器學習模型和海量數據來訓練網格以獲得充分的表現力，而不是要求藝術家團隊花費數週時間進行手動裝配。這是一個非凡而迅速的結果，體現了我們的目標，即讓媒體、遊戲和任何地方的 3D 藝術比現在更容易、快 10 倍、便宜 10 倍。我們還有更多工作要做，但我們很高興看到所有這些早期的牽引力。

Moving on to digital twins. Our business continues to expand. We entered 2022 with nearly 3,000 customers in this space. Our digital twin customers are spending more time with us as we land and expand to drive tangible outcomes with real-time 3D across the enterprise. This quarter, we closed 34 deals above $100,000, up 126% year-over-year and up 13% quarter-over-quarter. Unity is being used in construction, commerce, manufacturing, advanced simulation and much more.

轉向數字雙胞胎。我們的業務不斷擴大。進入 2022 年，我們在這個領域擁有近 3,000 名客戶。隨著我們登陸和擴展以在整個企業中通過實時 3D 推動切實成果，我們的數字孿生客戶花費更多時間與我們在一起。本季度，我們完成了 34 筆 100,000 美元以上的交易，同比增長 126%，環比增長 13%。 Unity 正被用於建築、商業、製造、高級模擬等等。

We are seeing broad-based adoption of these tools from companies like Mercedes-Benz. Unity is partnering with Mercedes to power the infotainment domain of the new operating system called MB.OS. MB.OS is a fully comprehensive architecture, covering electric and electronic hardware as well as software, which will hit the road in 2024. It can be seen in the VISION EQXX prototype vehicle. As part of our partnership, we're also upgrading the "Hey Mercedes" personal assistant's intelligence and interactivity into a 3D Star Avatar that will be more akin to a digital butler. Additionally, the MB.OS system will allow for 3D navigation that can zoom from satellite view down to 10 meters. It will also account for what time of day it is, ensuring an accurate real-time 3D display.

我們看到梅賽德斯-奔馳等公司廣泛採用這些工具。 Unity 正在與梅賽德斯合作，為名為 MB.OS 的新操作系統的信息娛樂領域提供動力。 MB.OS 是一個全面的架構，涵蓋電氣和電子硬件以及軟件，將於 2024 年上路。可以在 VISION EQXX 原型車中看到。作為我們合作的一部分，我們還將“Hey Mercedes”個人助理的智能和交互性升級為更類似於數字管家的 3D Star Avatar。此外，MB.OS 系統將允許 3D 導航，可以從衛星視圖放大到 10 米。它還將說明一天中的什麼時間，確保准確的實時 3D 顯示。

Also in March, we announced how Zutari is changing the way that large-scale solar projects in South Africa are designed, created and operated. Zutari is using Unity's real-time 3D development platform to automate large-scale solar photovoltaic projects to reduce the time required to develop design level insights and decrease costs. Not only does Zutari complete sun tracking and shading for each solar panel, but they also optimize solar sites to optimize the number and position of the panels installed in order to increase energy output, all within Unity. Zutari is also using Unity to explore additional sustainable energy facilities.

同樣在 3 月，我們宣布 Zutari 如何改變南非大型太陽能項目的設計、創建和運營方式。 Zutari 正在使用 Unity 的實時 3D 開發平台來自動化大型太陽能光伏項目，以減少開發設計級別洞察所需的時間並降低成本。 Zutari 不僅為每個太陽能電池板完成了太陽跟踪和遮陽，而且他們還優化了太陽能站點，以優化安裝的電池板的數量和位置，以增加能量輸出，所有這些都在 Unity 內完成。 Zutari 還使用 Unity 探索更多的可持續能源設施。

During Q1, we also achieved customer wins with our digital twins solutions across several new categories. From one of the largest energy companies in the world that is deploying our digital twins products across the enterprise to run their own downstream operations more effectively to an iconic luxury brand that is leveraging Unity to bring to market a differentiated digital experience that can only be done in real-time 3D.

在第一季度，我們還通過多個新類別的數字孿生解決方案贏得了客戶。從世界上最大的能源公司之一在整個企業中部署我們的數字孿生產品以更有效地運行他們自己的下游業務，到一個標誌性的奢侈品牌正在利用 Unity 為市場帶來差異化的數字體驗，而這種體驗只能做到在實時 3D 中。

Lockheed Martin is a model example of land and expand in action. Our first project to them started in 2017 when they bought a few seats for design visualization. Within 12 months, they had deployed 132 licenses to develop more interactive experiences for product development. 5 years later, Lockheed has nearly 500 licenses across 9 business units for multiple use cases, including simulation, training and guidance and collaboration.

洛克希德馬丁公司是土地和擴張行動的典範。我們對他們的第一個項目始於 2017 年，當時他們購買了幾個座位用於設計可視化。在 12 個月內，他們部署了 132 個許可證，為產品開發開發更多互動體驗。 5 年後，洛克希德在 9 個業務部門擁有近 500 個許可證，用於多個用例，包括模擬、培訓、指導和協作。

We are also making a difference in enabling how creators work. Parsec and SyncSketch are becoming critical tools in the hybrid work world. Creators need effortless access to high-fidelity workspaces and the ability to collaborate regardless of their location. The average time spent on Parsec for Teams' customer is more than 27 hours per week. This is what hybrid work looks like. Creators shift back and forth between direct access to powerful machines and remote to virtual access, all without skipping a beat. The fact that we see incredible numbers in growth and such high sustained usage is a signal of the future that creative work requires. As you can see, we are making good progress enabling creators across industries to adopt real-time 3D.

我們也在使創作者的工作方式有所不同。 Parsec 和 SyncSketch 正在成為混合工作世界中的關鍵工具。創作者需要毫不費力地訪問高保真工作空間，以及無論身在何處都能進行協作的能力。 Teams 客戶在 Parsec 上花費的平均時間每週超過 27 小時。這就是混合工作的樣子。創作者在直接訪問強大的機器和遠程訪問虛擬訪問之間來回切換，所有這些都不會跳過一個節拍。我們看到令人難以置信的增長數字和如此高的持續使用率這一事實是創造性工作所需要的未來信號。如您所見，我們在使各行各業的創作者能夠採用實時 3D 方面取得了良好的進展。

I've never seen such a global surge in creative innovation in my career, and we are honored to be powering much of it. We're seeing this innovation in gaming, AR and VR and in many nongame verticals across thousands of projects that are created and launched on Unity every day.

在我的職業生涯中，我從未見過如此全球性的創意創新浪潮，我們很榮幸能為其中的大部分提供動力。我們在遊戲、AR 和 VR 以及每天在 Unity 上創建和啟動的數千個項目中的許多非遊戲垂直領域都看到了這種創新。

I want to reiterate my expectation that Unity will sustain and sustainably grow revenue at or above 30% per year over the long term, even as we gain scale. I say this in full recognition that we're presently experiencing a self-inflicted challenge with our Monetization business that we expect to correct, learn from and build a more resilient platform for the future.

我想重申我的期望，即即使我們擴大規模，Unity 也將長期保持並可持續地以每年 30% 或以上的速度增長收入。我這樣說是為了充分認識到我們目前在貨幣化業務方面遇到了自我造成的挑戰，我們希望能夠糾正、學習並為未來建立一個更具彈性的平台。

And we expect to drive 30% revenue growth while achieving strong levels of profitability, but the $110 million revenue impact on our revenues this year hurts. We've been deeply considering ways for us to realize our vision on less, more focused spending. We can. We can make Unity a stronger company with this tighter focus and with it, a faster move to profitability than we previously promised. We remain hugely focused on the long term, and these adjustments will make us stronger and leaner as we lead to the future. Luis will provide more details on this shortly.

我們預計將推動 30% 的收入增長，同時實現強勁的盈利水平，但今年 1.1 億美元的收入影響對我們的收入造成了傷害。我們一直在深入考慮如何實現我們對更少、更集中支出的願景。我們可以。我們可以使 Unity 成為一家更強大的公司，通過這種更緊密的關注，以及比我們之前承諾的更快的盈利能力。我們仍然非常關注長期，這些調整將使我們在通往未來的過程中變得更強大、更精簡。 Luis 將很快提供更多細節。

And when I say focus on the long term, this is what I mean. Unity's Operate business lives in an exceptionally large market. We have a material data advantage in our Monetization business, continue to gain share with UGS as well as our hosting capabilities, and believe we are more focused on gaming than our competitors. These are real advantages. And Unity Create is now hitting an inflection point that we have long anticipated. We were not only growing our gaming footprint and take rate, we are seeing strong adoption from industries beyond gaming.

當我說專注於長期時，這就是我的意思。 Unity 的 Operate 業務位於一個非常大的市場中。我們在貨幣化業務中擁有重要的數據優勢，繼續獲得與 UGS 的份額以及我們的託管能力，並且相信我們比競爭對手更專注於遊戲。這些都是真正的優勢。 Unity Create 現在正達到我們期待已久的拐點。我們不僅在增加我們的遊戲足跡和使用率，我們還看到遊戲以外的行業廣泛採用。

The tech industry sees waves of innovation from personal computing to Internet, cloud, online retail. Today, we're in the foothills of another big wave. This time, the way people interact with digital content. We call it interactive real-time 3D. Others call it spatial computing or more recently, the metaverse. Whatever it's called, it is different, it is more engaging and it is inevitable.

科技行業見證了從個人計算到互聯網、雲、在線零售的創新浪潮。今天，我們正處於另一個大浪潮的山腳下。這一次，人們與數字內容交互的方式。我們稱之為交互式實時 3D。其他人稱其為空間計算，或者最近稱為元宇宙。不管叫什麼，它都是不同的，它更吸引人，而且是不可避免的。

We are beginning this journey with substantial market share leads. Over nearly 2 decades, we have built a strong product and engineering-oriented team and business model that has let us earn the industry's larger developer footprint by a very wide margin compared with others in the space. We are selling into large and growing markets. Our original core market of gaming could double in 5 years to more than $300 billion as it touches most people on Earth. And our opportunity in the gaming space is not just to double, more like 5 to 10x as we grow into the largest user group, artists, and build out more ratable consumption-based services to augment our SaaS subscription.

我們以可觀的市場份額領先優勢開始了這一旅程。在近 2 年的時間裡，我們建立了一個強大的以產品和工程為導向的團隊和商業模式，與該領域的其他公司相比，這讓我們以非常大的優勢贏得了業界更大的開發人員足跡。我們正在向龐大且不斷增長的市場銷售產品。我們最初的遊戲核心市場可能會在 5 年內翻一番，達到超過 3000 億美元，因為它觸及了地球上的大多數人。我們在遊戲領域的機會不僅僅是翻倍，更像是 5 到 10 倍，因為我們成長為最大的用戶群體、藝術家，並構建了更多基於消費的服務來增加我們的 SaaS 訂閱。

Meanwhile, other industries are just catching on. We have exciting momentum in digital twins, which boiled down will basically be the real-time digital replica of most places, objects and persons on the planet. And when I look at projects in our development pipeline, I see more opportunities with the potential to scale to multiple billions in revenue. Nongaming verticals have now gone at Unity from theory to early traction to scaling.

與此同時，其他行業正在迎頭趕上。我們在數字雙胞胎方面有著令人興奮的勢頭，歸根結底，它基本上將是地球上大多數地方、物體和人的實時數字複製品。當我查看我們開發管道中的項目時，我看到了更多可能擴大到數十億收入的機會。現在，Unity 的非遊戲垂直領域已經從理論發展到早期牽引再到擴展。

We have to execute to earn our future opportunity. The challenges we discussed today will be addressed and resolved. It is not an industry or sector issue. We are well underway towards recovery and building and adding resilience and redundancy.

我們必須執行才能贏得未來的機會。我們今天討論的挑戰將得到解決和解決。這不是行業或部門問題。我們正在朝著恢復和建設以及增加彈性和冗餘的方向順利進行。

And since all of you on this call have to publish your models, the question becomes exactly when Operate will recover and what that trajectory will look like. It is always harder to forecast through a change the trajectory than a continuation of one. Our guidance reflects our best estimate of that curve.

而且由於本次電話會議上的所有人都必鬚髮布您的模型，問題就變成了 Operate 何時恢復以及該軌跡會是什麼樣子。通過改變軌跡總是比預測軌蹟的延續更難預測。我們的指導反映了我們對該曲線的最佳估計。

And with that, let me turn the call to Luis.

有了這個，讓我把電話轉給 Luis。

Thank you, John.

謝謝你，約翰。

Let me frame a few considerations to understand the first quarter financials and balance 2022 guidance. The challenges that John described for Unity Operate business negatively impact our first quarter results and are expected to negatively impact our business in the second and third quarters with minimal impact to the fourth quarter. I would provide further details in a minute.

讓我提出一些考慮因素，以了解第一季度的財務狀況和 2022 年平衡指南。 John 為 Unity Operate 業務描述的挑戰對我們第一季度的業績產生了負面影響，預計將對我們第二和第三季度的業務產生負面影響，對第四季度的影響最小。我會在一分鐘內提供更多細節。

In the first quarter of 2022, we delivered revenue of $320 million, up 36% year-over-year. Create performed strongly with revenue of $116 million, up 65% from a year ago. Operate softened with revenue of $184 million, up 26% year-over-year. Strategic Partnerships and Other delivered $26 million -- $20 million in revenue, up 11% from a year earlier. We delivered at the high end of our guidance range with Create's overperformance partly offset by softness in Operate.

2022 年第一季度，我們實現收入 3.2 億美元，同比增長 36%。 Create 表現強勁，收入為 1.16 億美元，同比增長 65%。運營疲軟，收入為 1.84 億美元，同比增長 26%。戰略合作夥伴和其他部門帶來了 2600 萬美元的收入——2000 萬美元，比去年同期增長 11%。我們在指導範圍的高端交付，Create 的超額表現部分被 Operate 的疲軟所抵消。

We continue to make progress in expanding our business and adding new customers to the Unity platform. At the end of the first quarter, we had 1,083 customers with trailing 12 months revenue above $100,000. This compares to 837 customers at the end of the first quarter of 2021, an increase of 29% year-over-year. In addition, we delivered another strong net expansion rate of 135% on a trailing 12-month basis, this compares to a net expansion rate of 140% a year earlier.

我們在擴展業務和向 Unity 平台添加新客戶方面繼續取得進展。在第一季度末，我們有 1,083 名客戶，過去 12 個月的收入超過 100,000 美元。相比之下，2021 年第一季度末有 837 家客戶，同比增長 29%。此外，我們在過去 12 個月的基礎上實現了 135% 的強勁淨擴張率，而一年前的淨擴張率為 140%。

Our performance was fairly balanced by region with year-on-year revenue growth of 30% from the Americas, 34% from EMEA and 47% from Asia. Our non-GAAP gross margin was 76.2%, down 210 basis points year-over-year mostly as a result of including the additional engineers supporting Weta FX in cost of goods sold. Excluding this impact, non-GAAP gross margin would have been down 70 basis points year-over-year, mainly due to mix.

我們的業績按地區劃分相當平衡，美洲收入同比增長 30%，歐洲、中東和非洲增長 34%，亞洲增長 47%。我們的非 GAAP 毛利率為 76.2%，同比下降 210 個基點，主要是因為在銷售商品成本中包括支持 Weta FX 的額外工程師。排除這種影響，非美國通用會計準則毛利率將同比下降 70 個基點，主要是由於混合。

Non-GAAP operating expenses in the first quarter increased 29% as compared to the first quarter of 2021. This compares to 36% year-on-year revenue growth. Our sales and marketing expenses in the first quarter include the cost of the in-person Game Developer Conference, which we did not have last year.

與 2021 年第一季度相比，第一季度非美國通用會計準則運營費用增長了 29%。相比之下，收入同比增長 36%。我們第一季度的銷售和營銷費用包括我們去年沒有的面對面遊戲開發者大會的成本。

Non-GAAP operating margin improved from minus 10% in the last year's first quarter to minus 7.2% this quarter. Cash flow from operations was $101 million, which includes Weta FX's $200 million subscription payment covering 4 years of license. We had 348 million fully diluted shares at the end of the first quarter and 5,864 employees, up from 4,389 a year ago.

非美國通用會計準則營業利潤率從去年第一季度的負 10% 提高到本季度的負 7.2%。運營現金流為 1.01 億美元，其中包括 Weta FX 的 2 億美元訂閱付款，涵蓋 4 年的許可。在第一季度末，我們擁有 3.48 億股完全稀釋的股票和 5,864 名員工，高於一年前的 4,389 名。

Moving on to guidance. Our original revenue guidance for the full year of 36% year-on-year growth at the top end of the range considered fairly even growth in each of the 4 quarters. As John mentioned earlier, the challenges we're having now with Monetization represent a substantial short-term headwind to our revenue growth. We quantify this headwind at $110 million, with roughly 60% impacting the second quarter, 30% impacting the third quarter and 10% the fourth quarter. The recovery substantially rephases our year from being fairly even quarterly year-over-year growth to a year that is both front-loaded and back-loaded.

繼續指導。我們最初的全年收入指引為 36% 的同比增長處於該範圍的頂端，這被認為是 4 個季度中每個季度的增長相當均勻。正如約翰之前提到的，我們現在在貨幣化方面面臨的挑戰對我們的收入增長構成了巨大的短期阻力。我們將這一逆風量化為 1.1 億美元，其中大約 60% 影響第二季度，30% 影響第三季度，10% 影響第四季度。經濟復甦使我們的年度從相當均勻的季度同比增長轉變為前裝和後裝的一年。

For the second quarter, we expect revenue of $290 million to $295 million, representing growth of 6% to 8% from last year's second quarter, which was our strongest quarter last year with 48% year-over-year growth. For the full year, we're lowering our guidance to $1,350 million to $1,425 million. This implies 22% to 28% year-on-year growth. We're widening our guidance range to reflect different speeds in the Monetization recovery. As mentioned, our modeling assumes partial recovery in the third quarter and to be largely back to our prior trend line in the fourth quarter.

對於第二季度，我們預計收入為 2.9 億美元至 2.95 億美元，比去年第二季度增長 6% 至 8%，這是我們去年最強勁的季度，同比增長 48%。對於全年，我們將指導下調至 13.5 億美元至 14.25 億美元。這意味著同比增長 22% 至 28%。我們正在擴大指導範圍，以反映貨幣化恢復的不同速度。如前所述，我們的模型假設第三季度部分複蘇，並在第四季度基本回到我們之前的趨勢線。

With our revenue coming down for the year, there is, of course, an impact on our operating margins. This is not new to us today. While we believe Unity has massive opportunity in our future, we also think we can realize our vision with less spending. We have looked hard and can reduce our spending by over $100 million versus our internal plan. We believe this will make us a stronger company short and long term. These savings will not have much of an impact in our second quarter, but it will have a substantial impact on the second half of the year, such that we believe we will achieve profitability in the fourth quarter of this year, which is sooner than previously communicated. We expect to be profitable for the full year 2023.

隨著我們今年的收入下降，當然會對我們的營業利潤率產生影響。這對我們今天來說並不新鮮。雖然我們相信 Unity 在我們的未來擁有巨大的機會，但我們也認為我們可以用更少的支出實現我們的願景。與我們的內部計劃相比，我們已經努力尋找可以減少超過 1 億美元的支出。我們相信這將使我們在短期和長期內成為一家更強大的公司。這些節省不會對我們第二季度產生太大影響，但會對下半年產生重大影響，因此我們相信我們將在今年第四季度實現盈利，這比以前更快溝通過。我們預計 2023 年全年將實現盈利。

As a result of the slowdown, we expect non-GAAP operating loss in the second quarter between $62 million and $64 million. For the full year, we expect non-GAAP operating loss between $60 million and $75 million.

由於經濟放緩，我們預計第二季度非公認會計準則營業虧損在 6200 萬美元至 6400 萬美元之間。全年，我們預計非 GAAP 運營虧損在 6000 萬美元至 7500 萬美元之間。

We continue to invest to capture the large opportunity in front of us as we lay the foundation for the next 15-plus years. Yet, we have adjusted the pace of our investment, given the slower revenue ramp to protect our margins. We expect 350 million fully diluted shares by the end of the second quarter and 356 million fully diluted shares by the end of the year.

在為未來 15 多年奠定基礎的同時，我們將繼續投資以抓住擺在我們面前的巨大機遇。然而，鑑於收入增長放緩以保護我們的利潤率，我們已經調整了投資步伐。我們預計到第二季度末將有 3.5 億股完全稀釋股，到年底將有 3.56 億股完全稀釋股。

With that, I will open the call for questions.

有了這個，我將打開問題的電話。

Great. Thanks very much. So we'll go around as before. We'll call on the different analysts. And if we have time, we'll also do virtual hands up. So why don't we start with the first question, Kash Rangan from Goldman Sachs, if you have a question.

偉大的。非常感謝。所以我們會像以前一樣四處走動。我們將拜訪不同的分析師。如果我們有時間，我們也會做虛擬舉手。那麼，如果您有問題，我們為什麼不從第一個問題開始，高盛的 Kash Rangan。

Thank you so much for all the perspective behind these issues in the quarter. John, my question for you is can you talk a little bit about the cadence of Apple's privacy changes starting from when they implemented it to today? And what impact that might have had on the Pinpointer tool? And [in regards to that, if that is the correct] hypothesis, what remediation tools are you offering to offset that headwind? And also maybe it's a little bit looking out, but as you look at the WWDC, they want to make further changes by making Private Relay a default option. How are you prepared to handle any potential impact on that?

非常感謝本季度這些問題背後的所有觀點。約翰，我要問你的問題是，你能談談蘋果從實施到今天的隱私變化的節奏嗎？這可能對 Pinpointer 工具產生什麼影響？並且[關於這一點，如果這是正確的]假設，您提供了哪些補救工具來抵消逆風？也可能有點看不出來，但是當您查看 WWDC 時，他們希望通過將 Private Relay 設為默認選項來進行進一步的更改。您準備如何應對任何潛在影響？

So Ingrid's on with us today, but I'm going to give you one quick headline. Sure, we're well aware of Apple's plans when we provided our original guidance. So the change in guidance is not based on a changed understanding of what Apple's doing. But Ingrid's here. It's her business. I will let her address your questions more specifically. Ingrid?

所以英格麗德今天和我們在一起，但我要給你一個簡短的標題。當然，當我們提供最初的指導時，我們很清楚 Apple 的計劃。因此，指導方針的改變並不是基於對蘋果所做事情的改變理解。但是英格麗德來了。這是她的事。我會讓她更具體地回答你的問題。英格麗德？

Kash, I just want to be clear that the issues that John outlined today has -- is not as a result of iOS 14 impact, those are 2 different issues. And then as for iOS 16 and the outcome there, we've seen several media stories that speculates what you just mentioned for the privacy changes could be coming in iOS 16 and that Privacy Relay could remove the use of IP addresses.

Kash，我只是想明確一點，John 今天概述的問題不是由於 iOS 14 的影響，而是兩個不同的問題。然後關於 iOS 16 和那裡的結果，我們已經看到一些媒體報導推測你剛才提到的隱私變化可能會出現在 iOS 16 中，並且隱私中繼可能會刪除 IP 地址的使用。

However, Apple has not announced any details. And today, we are actively working to make sure that our systems are ready [for that] and prepare it for the different possible outcomes to address any changes in the privacy landscape.

不過，蘋果並未公佈任何細節。今天，我們正在積極努力確保我們的系統為此做好準備，並為不同的可能結果做好準備，以應對隱私環境中的任何變化。

Great. We'll go to the next caller, Matt Cost at Morgan Stanley. Matt?

偉大的。我們將去找下一位來電者，摩根士丹利的 Matt Cost。馬特?

Great. So when I look at sort of like the cadence of growth that's implied by the new guidance, assuming it kind of accelerates as we move through the year, it's something maybe like from $295 million in 2Q, maybe adding $50 million and maybe $100 million in 3Q and 4Q to get to the high end of the full year guide, just round numbers. I guess when we think about what precipitated the issues with Audience Pinpointer earlier in the year, what gives you confidence that, that pressure will abate so quickly and you'll be able to step up kind of so rapidly over the course of the second half of the year? And then I have a follow-up.

偉大的。因此，當我看到新指引所暗示的增長節奏時，假設它隨著我們一年的發展而加速，它可能會從第二季度的 2.95 億美元開始，可能會增加 5000 萬美元，甚至可能會增加 1 億美元3Q 和 4Q 達到全年指南的高端，只是整數。我想當我們想到今年早些時候是什麼導致了 Audience Pinpointer 的問題時，是什麼讓你相信，壓力會如此迅速地減輕，你將能夠在下半年如此迅速地加強年度？然後我有一個跟進。

So I'll take a high level. Ingrid, you may want to add some value to this. It's up to you or for Luis. But we spent a fairly substantial amount of time, as you might imagine, understanding exactly what happened. We've got deep insights into each of the component parts. And it gets divided over correcting problems that we're in the process of completing. So we're well through a fair amount of the work it takes to address the problems we've outlined.

所以我會採取高水平。英格麗德，你可能想為此增加一些價值。這取決於你或路易斯。但正如您可能想像的那樣，我們花了相當多的時間來準確了解發生了什麼。我們對每個組成部分都有深入的了解。它在糾正我們正在完成的問題上存在分歧。因此，我們已經完成了大量工作來解決我們概述的問題。

And then one of the things to keep in mind as well is for the past years, we've been meeting or exceeding our numbers. And a major part of that is attributing revenue to new features and new performance enhancements. We've been very good at that. And so the corrections are like the inverse of a performance enhancement, and we still have the feature map that we've always had.

然後要記住的一件事是在過去幾年中，我們一直在達到或超過我們的數字。其中很大一部分是將收入歸因於新功能和新的性能增強。我們在這方面做得很好。因此，修正就像性能增強的逆過程，我們仍然擁有我們一直擁有的特徵圖。

And so it's really just drilling down and doing what we've always done for our forecasting. But this time around, if you will, it's almost like a feature to correct the problem because it has the same impact. The value of an install is more carefully and correctly understood. Reaching more users through our Pinpointer tool is another example. We know how that math works.

所以它實際上只是深入研究並做我們一直為我們的預測所做的事情。但是這一次，如果你願意的話，它幾乎就像是一個糾正問題的功能，因為它具有相同的影響。安裝的價值得到更仔細和正確的理解。通過我們的 Pinpointer 工具吸引更多用戶是另一個例子。我們知道數學是如何工作的。

Ingrid, anything you might want to add?

英格麗德，你有什麼想補充的嗎？

Yes. Matt, this is the nature of machine learning-based products. We expect our recovery to go through several steps in the sequence. The first is data rebuilding. The second is model training. And this is an iterative process that will drive better performance. And the third, as our customers experience these improvements, they'll scale up their spend and monetization with us, we will then see the impact on our revenue. So these changes are incrementally built upon one another as each step in this progression is the foundation for the next.

是的。馬特，這是基於機器學習的產品的本質。我們預計我們的複蘇將按順序經歷幾個步驟。首先是數據重建。二是模型訓練。這是一個迭代過程，將推動更好的性能。第三，隨著我們的客戶體驗到這些改進，他們將擴大與我們的支出和貨幣化，然後我們將看到對我們收入的影響。因此，這些變化是逐步建立在彼此之上的，因為這一進展中的每一步都是下一步的基礎。

And look, we're building this business for the long term because we truly believe in this sector. The games advertising market, as John mentioned, will continue to grow. We have highly engaged players and professionally created content. This will always be attractive for advertising. And we know what we need to do to address this temporary challenge, and we need to go through the motions to ensure the solid foundation.

看，我們正在長期建立這項業務，因為我們真正相信這個領域。正如約翰所說，遊戲廣告市場將繼續增長。我們擁有高度參與的玩家和專業創作的內容。這對廣告總是有吸引力的。我們知道我們需要做些什麼來應對這一暫時的挑戰，我們需要通過議案來確保堅實的基礎。

And lastly, what I would mention is that the beauty of this business is that no customers [would have a loss] and the sales cycle is short. And for many of these developers, Unity has enabled them to achieve their vision and build the business that they have today. We have built a trusted brand and a reputation over the years such that when we deliver value, we are confident that they will scale up their business with us again.

最後，我要提到的是，這項業務的美妙之處在於沒有客戶[會虧損]並且銷售週期很短。對於這些開發人員中的許多人來說，Unity 使他們能夠實現他們的願景並建立他們今天擁有的業務。多年來，我們建立了一個值得信賴的品牌和聲譽，因此當我們提供價值時，我們相信他們會再次擴大與我們的業務。

Great. And then just on Operate, I think in the prepared remarks, you mentioned basically an idiosyncratic issue in 1Q in a market that is otherwise healthier or stable, I forgot the exact wording. But I guess when we think about your expectations for the growth of like the mobile game advertising market through the end of the year, are you assuming relative stability through the end of the year? Or is the market backdrop that you're imagining in your guidance including any impact of some macro weakness potentially?

偉大的。然後就在 Operate 上，我認為在準備好的評論中，您基本上提到了 1Q 在一個更健康或穩定的市場中的一個特殊問題，我忘記了確切的措辭。但我想當我們考慮到您對年底移動遊戲廣告市場增長的預期時，您是否假設到年底相對穩定？或者您在指導中想像的市場背景是否包括一些宏觀疲軟的潛在影響？

So it's always difficult to be exactly precise on what happens in the macro world because arguably, more going on in the macro world today than there has been in a long time. Matt, I don't see any long-term impacts on engagement and the overall health of the Monetization business writ large or writ small onto Unity as we recover. So we're expecting relative stability.

因此，要準確了解宏觀世界中發生的事情總是很困難，因為可以說，今天宏觀世界中發生的事情比很長時間以來都多。 Matt，我認為隨著我們的恢復，Unity 不會對參與度和貨幣化業務的整體健康產生任何長期影響。所以我們期待相對穩定。

And let me give you a little bit of a -- my long history in the game industry. Through virtually every major crisis, the game industry has grown. Through recession, the game industry has grown. Through catastrophes like 9/11, the game industry had strong weeks immediately following. It is what people do when they're frustrated. It's what they do when they stay home because they can't travel. It's what they do to fill their time when they're stuck at home with COVID, and it's the habit they pick up and they carry with them.

讓我給你一點點——我在遊戲行業的悠久歷史。幾乎在每一次重大危機中，遊戲行業都在成長。通過衰退，遊戲產業得到了發展。通過像 9/11 這樣的災難，遊戲行業緊隨其後的幾週表現強勁。這是人們在沮喪時會做的事情。這是他們呆在家裡時所做的事情，因為他們不能旅行。當他們被 COVID 困在家裡時，他們會這樣做來打發時間，這是他們養成並隨身攜帶的習慣。

Can there be uneven quarters from time to time? They can, but they're exceptionally rare in the gaming industry. And it really is the habit that people pick up and maintain once they start. And it's one of those few things where when people come under more pressure and more stress, they tend to game more.

有時會出現不均勻的季度嗎？他們可以，但他們在遊戲行業中極為罕見。這確實是人們一開始就養成並保持的習慣。這是少數當人們承受更大壓力和更大壓力時，他們傾向於玩更多遊戲的事情之一。

So again, I'm highly confident that this industry is strong. Can things get knocked back and forth in the quarter? Of course, they can. But the trend lines of the industry that we look back more than decades now has been pretty consistent up to the right, no major retrenches.

再說一次，我非常有信心這個行業很強大。事情會在這個季度來回顛簸嗎？當然，他們可以。但我們現在回顧幾十年來的行業趨勢線一直非常一致，沒有大的緊縮。

Now in years past, when we had primarily physical media in the gaming industry, you saw some cycles where the console business would go backwards in the year leading to do console launches because customers would wait to get their new console and buy more discs. That phenomenon is trivial now. What happens today is increased growth based on new users being more engaged over time.

現在在過去的幾年裡，當我們主要在遊戲行業使用物理媒體時，您會看到一些週期，在這一年中，控制台業務會倒退，導致控制台發布，因為客戶會等待獲得新控制台併購買更多光盤。這種現象現在是微不足道的。今天發生的情況是，隨著時間的推移，新用戶的參與度越來越高，增長速度加快。

Brent Bracelin at Piper.

Piper 的布倫特·布雷克林。

I wanted to go back to the Monetization challenges you're seeing. I guess I'm a little surprised to think about one customer and data from one customer having kind of this big of a challenge. So maybe just stepping back, how dependent is the Operate business on data from your other customers? Or is this data from a third party that you're getting to help drive the service? Just a little more color on kind of how data from one customer could have this big of an impact on the business here just this quarter.

我想回到您所看到的盈利挑戰。想到一位客戶和一位客戶的數據面臨如此大的挑戰，我想我有點驚訝。所以也許只是退後一步，運營業務對其他客戶數據的依賴程度如何？或者這些來自第三方的數據是您要幫助推動服務的？僅在本季度，就一位客戶的數據如何對這裡的業務產生如此大的影響，請多加一點色彩。

So Ingrid, do you want to take that? I can add.

所以英格麗德，你想接受嗎？我可以補充。

Sure. Brent, I just want to make sure that we are clear. It is -- the whole impact is not because of this 1 data from the customer. There were several factors that was outlined. The first was a fault in our platform that resulted in reduced accuracy for our Audience Pinpointer tool. As we grew significantly last year in Audience Pinpointer, as John mentioned, we paid more attention for growth and new features versus resiliency. So this was an expensive issue given that Pinpointer is a big component of our business post Apple's privacy changes.

當然。布倫特，我只是想確保我們清楚。它是——整個影響不是因為來自客戶的這 1 個數據。概述了幾個因素。第一個是我們平台的故障，導致我們的 Audience Pinpointer 工具的準確性降低。正如約翰所說，隨著我們去年在 Audience Pinpointer 中的顯著增長，我們更加關注增長和新功能而不是彈性。所以這是一個代價高昂的問題，因為 Pinpointer 是我們在 Apple 隱私更改後業務的重要組成部分。

The second...

第二...

Just to be clear, though, is that Pinpointer product data dependent? Or is it actually like a software bug issue that caused the problem? I'm just trying to dissect, is it data challenging -- a data challenge? Or is it actually a software bug issue?

不過，需要明確的是，Pinpointer 產品數據是否依賴於這些數據？或者它實際上是否像導致問題的軟件錯誤問題？我只是想剖析一下，它是數據挑戰——數據挑戰嗎？或者它實際上是一個軟件錯誤問題？

So the first component that I just mentioned is -- I wouldn't say is a -- it's a combination of different things that reduced the accuracy for our Audience Pinpointer. And the second factor that we experienced with several incidents that impacted our data set, that is an input to our machine learning model training for Audience Pinpointer. And one specific example of that -- exactly, is that we set a large amount of that data from a customer.

所以我剛才提到的第一個組件是——我不會說是——它是不同事物的組合，降低了我們的 Audience Pinpointer 的準確性。我們在影響我們數據集的幾起事件中經歷的第二個因素是我們為 Audience Pinpointer 進行機器學習模型訓練的輸入。一個具體的例子——確切地說，是我們從客戶那裡收集了大量的數據。

It felt a little bit like it was one customer data set. It sounds like there's several factors that had an influence on the data training issue, and then there was obviously something that's also impacted the Pinpointer product.

感覺有點像是一個客戶數據集。聽起來有幾個因素對數據訓練問題產生了影響，然後顯然還有一些因素也影響了 Pinpointer 產品。

My last question, maybe for Luis. As we think about the guide for Q2, you talked about some of these challenges cropping up in February and March. It looks like the guidance implies about a $60 million drag to operate for Q2, that's $20 million a month. Why would it be such a bigger impact if you saw some of these initial impacts in February and March for Q2? It seems like it's a more material impact clearly for Q2 than what you saw in Q1, why is that?

我的最後一個問題，也許是針對路易斯的。當我們考慮第二季度的指南時，您談到了 2 月和 3 月出現的一些挑戰。看起來該指導意味著第二季度的運營成本約為 6000 萬美元，即每月 2000 萬美元。如果您在 2 月和 3 月的第二季度看到其中的一些初始影響，為什麼會產生如此大的影響？看起來它對第二季度的影響顯然比你在第一季度看到的要大，這是為什麼呢？

Yes. So it's just the timing. So in January, we started very strong. As John mentioned, the impact to February was relatively small, the impact to March was larger, so you'll see a partial impact in Q1.

是的。所以這只是時機。所以在一月份，我們開始非常強勁。正如約翰所說，對 2 月的影響相對較小，對 3 月的影響更大，因此您會在第一季度看到部分影響。

Got it. So it's not like the issues are worse, it's like you're addressing most of the issues in this...

知道了。所以這並不是問題更糟，就像你正在解決這個問題中的大部分問題......

Yes.

是的。

Okay. Great. Helpful color there.

好的。偉大的。那裡有用的顏色。

The next question from Dylan Becker over at William Blair.

威廉布萊爾的迪倫貝克爾的下一個問題。

First, maybe I wanted to touch on the value of the Create platform, so an area that obviously saw a lot of strength and continues to see strength here. But as you guys are thinking about kind of the confidence in this ramp throughout the middle quarters of the year and into the back half, how much of that activity on the Create side and the insights and the data that you're able to draw from that tool gives you the confidence and support as we think about the ability to kind of retrench a lot of these models from a user targeting perspective? And then I have one more follow-up after that.

首先，也許我想談談 Create 平台的價值，這個領域顯然看到了很多力量，並且在這裡繼續看到力量。但是，當你們正在考慮在整個年中季度和後半段對這個斜坡的信心時，在 Create 方面有多少活動以及您能夠從中汲取的見解和數據當我們從用戶定位的角度考慮縮減許多這些模型的能力時，該工具會給您信心和支持嗎？之後我又進行了一次跟進。

Marc can do that.

馬克可以做到。

Marc, do you want to help with that a little bit or I can take it? Marc?

馬克，你想幫忙嗎，還是我可以接受？馬克?

Sure, I'm happy to start. I think the question was a little bit about how -- the flywheel between Operate and Create. So what's been awesome, in particular in the games, is that our Create tool set is used by an incredibly broad set of creators across pretty much every platform where users are found. And as those creators are going to market, a huge number of them then onboard into the Operate tool chain.

當然，我很高興開始。我認為這個問題有點關於如何 - 操作和創建之間的飛輪。因此，令人驚嘆的是，特別是在遊戲中，我們的 Create 工具集在幾乎所有找到用戶的平台上都被非常廣泛的創作者所使用。隨著這些創作者進入市場，他們中的許多人隨後加入了 Operate 工具鏈。

Now because we start from the very beginning, from the very first time that someone hits file new project inside of Unity, we start sort of understanding where they're going, we're able to sort of work with them, work with them at a teams' level and then move them over on to the Operate platform.

現在因為我們從一開始就開始，從有人第一次在 Unity 中點擊文件新項目，我們開始了解他們的去向，我們能夠與他們一起工作，與他們一起工作一個團隊的關卡，然後將它們移到操作平台上。

The other part that we continue to strengthen together is the work between -- that Operate has been doing and what they call Unity Gaming Services, where it's not just the Monetization side, but also the other areas around analytics, around voice and multiplayer, around sort of cloud content and delivery that ties in very deeply into both the creation and in the long-term operation.

我們繼續共同加強的另一部分是 Operate 一直在做的工作和他們所謂的 Unity 遊戲服務之間的工作，這不僅僅是貨幣化方面，還有圍繞分析、語音和多人遊戲的其他領域，圍繞一種雲內容和交付，與創建和長期運營密切相關。

And then, Ingrid, I don't know if you'd want to add anything on that on how that helps from your data perspective.

然後，英格麗德，我不知道您是否想在此基礎上添加任何內容，從您的數據角度來看這對您有何幫助。

Yes, absolutely. So as we've seen -- as John mentioned, since beta launch in October, we've seen more than 74,000 organizations sign up with over 68,000 completes, which is more than a 90% conversion rate. And all of that doing beta is coming from the Create platform and Made with Unity developers. So to just give some data points to support Marc's narrative there, we are seeing the impact on this, particularly on Unity Gaming Services.

是的，一點沒錯。正如我們所看到的——正如約翰所提到的，自 10 月份推出測試版以來，我們已經看到超過 74,000 個組織註冊，完成了超過 68,000 次，轉換率超過 90%。所有這些做測試版都來自 Create 平台和 Made with Unity 開發人員。因此，僅提供一些數據點來支持 Marc 的敘述，我們正在看到對此的影響，尤其是對 Unity Gaming Services 的影響。

Can we get into your question exactly? Because I interpreted the question slightly different than we answered it. I want to make sure we're answering your question.

我們可以確切地回答您的問題嗎？因為我對這個問題的解釋與我們回答的略有不同。我想確保我們正在回答你的問題。

Yes. I mean I think from a high level, right, it's around how the Create side can service that on-ramp from the operation, monetization dynamic. And as you guys are kind of trying to, again, figure out and dig into better optimizing some of these models. I think that, that helped address it from a high level.

是的。我的意思是，我認為從高層次來看，它是圍繞 Create 方如何從運營、貨幣化動態中為入口提供服務。當你們再次嘗試找出並深入研究更好地優化其中一些模型時。我認為，這有助於從高層次解決這個問題。

And maybe a quick follow-up, too. So seeing kind of the strength, I know you mentioned on the digital twins' side, but like the interoperability of visualization here, too, as we think about seeing kind of traction and expansion into some of these nongaming use cases, how should we think about maybe areas that are seeing the most momentum and then maybe the opportunity to drive Operate's strength outside of kind of the core nongaming component today? Because I think a lot of the momentum you see is solely in Create, the ability to kind of leverage the Operate side of the nongaming component as well.

也許還有一個快速的跟進。所以看到某種力量，我知道你在數字雙胞胎方面提到過，但就像這裡的可視化互操作性一樣，當我們考慮看到對這些非遊戲用例的牽引和擴展時，我們應該怎麼想關於也許是最有動力的領域，然後也許有機會在今天的核心非遊戲組件之外推動 Operate 的實力？因為我認為你看到的很多動力都只在 Create 中，也就是利用非遊戲組件的 Operate 方面的能力。

Sure. Why don't I start with that one, and then John, I don't know if you have something to add. But I think it's a really great question. Digital twins, I think we're seeing really broad growth across multiple sectors as we see industries kind of using these digital twins to manage their business at every phase. We see them using it at content creation and injection time to product configuration and sales, collaboration, and then really deeply around management, operations and simulation. And you can look at that across whichever industry that you want to look at, they tend to be focused across those different phases.

當然。我為什麼不從那個開始，然後是約翰，我不知道你是否有什麼要補充的。但我認為這是一個非常好的問題。數字雙胞胎，我認為我們在多個行業看到了真正的廣泛增長，因為我們看到各行業都在使用這些數字雙胞胎在每個階段管理他們的業務。我們看到他們在內容創建和注入時使用它來進行產品配置和銷售、協作，然後真正深入地圍繞管理、運營和模擬。而且您可以查看您想查看的任何行業，它們往往集中在這些不同的階段。

Today, we've been and we continue to be strong in areas like architecture, engineering and construction, manufacturing, automotive, but we're also seeing a lot of significant growth in areas such as high-end and luxury and retail and also in complex products. I think everything from elevators to boats and sort of being able to build systems that support both the on-ramp of new customers through the operation of those products.

今天，我們在建築、工程和施工、製造、汽車等領域一直並且繼續保持強勢，但我們也看到在高端、奢侈品和零售等領域以及在複雜的產品。我認為從電梯到船隻的一切，以及能夠構建系統，通過這些產品的操作來支持新客戶的入口。

What's been very encouraging is that where we see our customers as they begin -- they're beginning to staff dedicated engineering teams in these areas, not just asking for professional services. And so what we see is that they see digital twins not as a point engagement, a onetime thing, but as a continuing capability. And that really speaks to how you think about not just the creation of an original digital twin, but its use over a lifetime to operate capabilities and the opportunity to create services and value add on that long term.

非常令人鼓舞的是，我們看到我們的客戶開始時——他們開始在這些領域配備專門的工程團隊，而不僅僅是要求專業服務。所以我們看到的是，他們認為數字雙胞胎不是一種單點參與，一種一次性的東西，而是一種持續的能力。這確實說明了您對創建原始數字雙胞胎的看法，以及在整個生命週期中使用它來操作功能以及在長期內創造服務和增值的機會。

So let me add a little bit to this one. So starting point, our company is born in the game industry. And we're very -- we're -- I can't tell you how much energy goes into doing an awesome job for game developers, which is why you see, over the last handful of years, we've gone from nowhere to market leading on all the consoles from nowhere to market leading on PC. And from low double-digit market shares in mobile to over 70% in mobile. So huge energy around that. And now we've got all of the stuff we've been talking about with artists and new services increase our take rate. So that's underway and nothing is slowing that down.

所以讓我在這個上加一點。所以起點，我們公司誕生於遊戲行業。而且我們非常 - 我們 - 我無法告訴你為遊戲開發者完成一項出色的工作需要多少精力，這就是為什麼你會看到，在過去的幾年裡，我們從無到有從無處不在的所有遊戲機市場領先到 PC 市場領先。從低兩位數的移動市場份額到超過 70% 的移動市場份額。如此巨大的能量圍繞著它。現在我們已經擁有了我們一直在與藝術家討論的所有內容，並且新服務提高了我們的接受率。所以這正在進行中，沒有什麼能減慢它的速度。

5 years ago, about, I don't know, 8 blocks from here, I hired somebody, the first person that was going to work on a business outside of gaming, just 5 years ago, restaurant, half a dozen blocks away. And I was describing something that might be true. And what was fascinating about it is I was able to hire this guy -- but it was fascinating, they kept coming up with examples and I said, "You're dreaming. It will never happen." From that point 5 years ago, we went with our public offering to less than 2 years ago. We talked about this, and we were getting -- with the time, we talked about hundreds, low thousand customer base and starting to get there. We didn't -- we called it early traction.

5 年前，大約，我不知道，離這裡 8 個街區，我雇了一個人，第一個在遊戲之外從事業務的人，就在 5 年前，餐廳，六個街區外。我在描述一些可能是真的。最令人著迷的是我能夠僱用這個人——但令人著迷的是，他們不斷提出例子，我說，“你在做夢。這永遠不會發生。”從 5 年前的那一刻起，我們進行了公開募股，直到不到 2 年前。我們談到了這個，我們得到了——隨著時間的推移，我們談到了數百、千人的客戶群，並開始達到目標。我們沒有——我們稱之為早期牽引。

I've never seen anything like this as I have in the last 6 months. I meet with customers every week. CEOs, Boards and Directors in the auto industry, architecture industry, construction industry, retail, literally a spectrum of companies across so many industries, and we're talking about companies, huge organizations. And it reminds me ever so much of 2000. I remember in 2000, we thought, what, 5% of companies that have a website, maybe 10% someday, maybe. Literally, every company in the world has a website today. It is endemic to running a business to be able to find your customer through the computers.

在過去的 6 個月裡，我從未見過這樣的事情。我每週都會與客戶見面。汽車行業、建築行業、建築行業、零售業的首席執行官、董事會和董事，從字面上看，涉及眾多行業的一系列公司，我們談論的是公司，巨大的組織。它讓我想起了 2000 年。我記得在 2000 年，我們想，什麼，有 5% 的公司擁有網站，也許有一天會達到 10%。從字面上看，今天世界上每家公司都有一個網站。經營企業能夠通過計算機找到您的客戶是特有的。

Today, what I'm seeing is similar traction around essentially what they're thinking of as the metaverse. But what that really means is the next version of the Internet that allows them to do things like virtual try-ons, bring their boutiques into your home. It's a real-time 3D customer connection for complex products, for simple products, for fashion products, for technology products. And when we talked about it at the IPO, it was interesting, and we had good stories to tell. But this is -- it's changed in character in a pretty dramatic way. It's not just leaning in, it's jumping in and setting up camp. They all know they need this, and it is coming in a huge way.

今天，我所看到的是圍繞著他們所認為的元宇宙的類似牽引力。但這真正意味著互聯網的下一個版本，它允許他們進行虛擬試穿，將他們的精品店帶入您的家中。它是複雜產品、簡單產品、時尚產品、科技產品的實時 3D 客戶連接。當我們在首次公開募股時談論它時，它很有趣，而且我們有好故事要講。但這是 - 它以一種非常戲劇性的方式改變了角色。這不僅僅是靠前，而是跳入並建立營地。他們都知道他們需要這個，而且它正在以一種巨大的方式出現。

Next question, Andrew Uerkwitz at Jefferies. Andrew? Oh, there you go. Hello. Andrew, we'll circle back to you.

下一個問題，傑富瑞的 Andrew Uerkwitz。安德魯？哦，給你。你好。安德魯，我們會回到你身邊。

Stephen Ju over at Credit Suisse, do you have a question?

瑞士信貸的斯蒂芬·朱，你有問題嗎？

Yes, sir. So I just wanted to circle back on Pinpointer. So it looks like a product that helps app developers reengage users who have already installed the app. So can you confirm that this is indeed the case? And if so, can you talk about what kind of campaigns were impacted in terms of different buckets of what advertisers are looking to achieve?

是的先生。所以我只是想回到 Pinpointer。因此，它看起來像是一款可以幫助應用開發者重新吸引已經安裝應用的用戶的產品。那麼你能確認這確實是這樣嗎？如果是這樣，您能否談談根據廣告商希望實現的不同目標，哪些類型的活動受到了影響？

And also, secondarily, was this a problem that was presented to you by your advertisers, who were starting to report compressing ROIs and therefore, starting to rotate budgets away from you? I'm just trying to figure out like how this problem was identified in the first place. So in terms of the practicality of getting the budgets back on board, is this a matter of just training your models to ramp ROIs back to where it was in the first place?

其次，這是否是您的廣告商向您提出的問題，他們開始報告壓縮投資回報率，因此開始將預算從您手中轉移出去？我只是想弄清楚這個問題最初是如何被發現的。因此，就重新獲得預算的實用性而言，這是否只是訓練您的模型以將投資回報率提升到最初的水平？

Yes. Ingrid?

是的。英格麗德？

So Audience Pinpointer is our user acquisition product, our ML-powered user acquisition product that allows game developers to acquire players based on a target return on their spend. So we have different ways that advertisers can buy. One is with a return on app spend target. Another way is a target price per install, for example. And we have other factors like retention, et cetera, that they could buy on as well. So just to clarify, it's not a retargeting is what I think you mentioned, this is all user acquisition based on return on ad spend.

因此，Audience Pinpointer 是我們的用戶獲取產品，我們基於機器學習的用戶獲取產品，它允許遊戲開發者根據目標支出回報來獲取玩家。因此，我們有不同的廣告客戶可以購買的方式。一個是應用支出目標的回報。例如，另一種方式是每次安裝的目標價格。我們還有其他因素，例如留存率等，他們也可以購買。所以澄清一下，我認為你提到的不是重新定位，這是所有基於廣告支出回報的用戶獲取。

In terms of how the problem was identified, it was a combination of factors between we saw data, our own customers' data as well as our own data and our engineering team looking at the root causes and finding those issues.

就如何識別問題而言，這是我們看到的數據、我們自己的客戶數據以及我們自己的數據和我們的工程團隊尋找根本原因並發現這些問題之間的綜合因素。

Okay. So presumably, on a go-forward basis, would you have access to less data that would be informing, I guess, the models? And would you anticipate that the ROI that's using Pinpointer would be better or worse versus where you were before?

好的。所以大概，在前進的基礎上，你會訪問更少的數據來通知模型，我猜？您是否預計使用 Pinpointer 的 ROI 會比您以前更好或更差？

Yes. As I mentioned, the recovery will go through several steps. The first is data rebuilding. The second is model training, and this is an iterative process. And as we train the model more, the performance will improve. And the third is then as the customer experience these improvements, they will increase their spend and monetization with us, and that's when we will see the impact on our revenue.

是的。正如我所提到的，恢復將經歷幾個步驟。首先是數據重建。第二個是模型訓練，這是一個迭代的過程。隨著我們對模型進行更多的訓練，性能將會提高。第三是當客戶體驗到這些改進時，他們將增加與我們的支出和貨幣化，那時我們將看到對我們收入的影響。

And just for clarity, we didn't lose any customers. And one of the early signals we saw was we saw less revenue. And so they're spending less because they're getting less performance out of our Audience Pinpointer. Ingrid's team took that apart, and I saw a multivariant analysis showing each individual component part, and that was driven in part by some of the data issues we talked about. So the diagnosis is crisp. Those same advertisers, when they start to see the performance that we know we can drive as new data fills in and we train those models, it's a straightforward process of bringing them back up into their share of wallet.

為了清楚起見，我們沒有失去任何客戶。我們看到的早期信號之一是我們看到的收入減少了。因此，他們花費更少，因為他們從我們的 Audience Pinpointer 中獲得的性能更少。 Ingrid 的團隊將其拆開，我看到了一個多變量分析，顯示了每個單獨的組件部分，這部分是由我們討論的一些數據問題驅動的。所以診斷很明確。那些同樣的廣告商，當他們開始看到我們知道隨著新數據的填充我們可以推動的性能並且我們訓練這些模型時，這是一個讓他們重新回到他們的錢包份額的簡單過程。

They -- these people are really data-driven. For those of you that work in other industries, primarily -- or have worked on other industries, there's almost nothing like the data-driven nature of a user acquiring marketing team in the game industry. These guys move on tenths of a point in 1 point. And we know what we can do in performance, which is why we're able to confidently give some good sense of how this will come back. We saw how it went, we know how it comes back.

他們——這些人真的是數據驅動的。對於那些主要在其他行業工作的人——或者曾經在其他行業工作過的人，幾乎沒有什麼能比得上游戲行業用戶獲取營銷團隊的數據驅動性質。這些傢伙在 1 分中移動十分之一分。而且我們知道我們可以在性能方面做些什麼，這就是為什麼我們能夠自信地給出一些關於這將如何回歸的良好感覺。我們看到了它是如何發生的，我們知道它是如何回來的。

Just to build on John, this doesn't take away from the breadth of data sets that we have to inform our contextual data. It's just we have some challenges and issues as a result of these temporary technology issues and reduction in data. But in terms of the fundamentals of kind of the breadth of data that feeds into our architecture, this doesn't take away from that.

僅以 John 為基礎，這並不會影響我們必須為上下文數據提供信息的數據集的廣度。只是由於這些臨時的技術問題和數據的減少，我們遇到了一些挑戰和問題。但就輸入我們架構的數據廣度的基本原理而言，這並不能消除這一點。

This is -- I don't know that I can say this with enormous precision, but in an industry like this one, the data you build over the last 90 to 180 days is the majority of the value you ever have from the data. It is recent data. So this is one of those situations where self -- in a way, it's just sort of self-correcting once we fixed the issue.

這是 - 我不知道我可以非常精確地這麼說，但在像這樣的行業中，你在過去 90 到 180 天內建立的數據是你從數據中獲得的大部分價值。是最近的數據。所以這是自我的情況之一——在某種程度上，一旦我們解決了問題，它只是一種自我糾正。

Now we're being more aggressive in self-correcting. But it is one of those things where it's easy to draw the wrong conclusion. But this -- and so the revenue issue that we picked up was related to the misses that we've talked about in terms of hitting this directly, the time to rebuild and then the rephasing of features. And we're pretty confident of those builds.

現在我們在自我糾正方面更加積極。但這是很容易得出錯誤結論的事情之一。但是這個 - 所以我們提到的收入問題與我們討論過的直接擊中這個問題，重建時間以及重新調整功能的時間有關。我們對這些構建非常有信心。

Great. And our last question, Parker over at Stifel. Are you available?

偉大的。最後一個問題，帕克在 Stifel。你有空嗎？

John, I wanted to talk about the opportunity outside of gaming. You touched on it briefly a couple of questions ago, but I'm just thinking about the way that these organizations across a variety of industries think about their investments and innovation in real-time 3D. Is there anything uniform about that? Or is everyone really taking it at a different pace? Like when we think about the customer expansion opportunity there, is it perhaps many factors larger than what you would see with traditional gaming customers on the Create side?

約翰，我想談談遊戲之外的機會。您在幾個問題前簡單地談到了它，但我只是在考慮這些跨行業的組織如何看待他們在實時 3D 方面的投資和創新。有什麼統一的嗎？還是每個人真的以不同的速度接受它？就像我們考慮那裡的客戶擴展機會一樣，它是否可能比您在 Create 方面看到的傳統遊戲客戶更大？

So there's a lot of pattern recognition you can talk about here, and I'm going to ask Marc to build on this. But I'm going to give you one part of it, almost an organizational level one, and I'm going to ask Marc to talk about some pattern recognition around whether it's simulation centered or it's configurators or it's reaching their customers with a new presentation.

因此，您可以在這裡討論很多模式識別，我將請 Marc 在此基礎上再接再厲。但我要給你其中的一部分，幾乎是組織層面的，我要請 Marc 談談一些模式識別，它是以模擬為中心還是配置器，或者它是通過一個新的演示來吸引他們的客戶.

One of the things that I've seen is if I go back to 5 years ago, and I mentioned this before, I talked to my first person into working on this business, 3 years ago, I'd show up with a customer and we'd get handed off to a relatively junior person in the organization and 3 engineers, one of whom has a kid that programs in Unity, they're just curious to meet us. And we'd show up and we'd say, "How do you do this? And how do you do that?" Whether it's design or how to do your car configurator, I was shocked at how archaic some of that was. And there was nobody very senior in these organizations that we were interacting with. That started to change about 3 years ago. We were getting into important people in the marketing or design or in different parts of the processes in that -- those organizations.

我看到的一件事是，如果我回到 5 年前，我之前提到過，我和我的第一個人談過從事這項業務，3 年前，我會和一個客戶一起出現我們會被交給組織中一個相對初級的人和 3 名工程師，其中一個有一個在 Unity 編程的孩子，他們只是很想認識我們。我們會出現，我們會說，“你是怎麼做到的？你是怎麼做到的？”無論是設計還是如何做你的汽車配置器，我都對其中的一些過時感到震驚。在我們與之互動的這些組織中，沒有人非常資深。大約 3 年前，這種情況開始發生變化。我們正在接觸營銷或設計中的重要人物，或者那些組織中流程的不同部分。

Today, what's happening, it's CEOs accompanied by their Boards of Directors and their entire senior management team say, "I know I've got 10 experiments with you at a low level, we want this to be transformative." So one really significant point of pattern recognition is where this has evolved to and where they get resources from, which is why I'm very confident that we're in the scaling phase and we've moved well into that. I'd love to talk about a number of specifics, but I'll take the air from Marc, and I'll let him expand on that.

今天，正在發生的事情是，首席執行官們在他們的董事會和整個高級管理團隊的陪同下說：“我知道我已經對你進行了 10 次低水平的實驗，我們希望這具有變革性。”因此，模式識別的一個非常重要的點是它已經發展到哪里以及他們從哪裡獲得資源，這就是為什麼我非常有信心我們處於擴展階段並且我們已經很好地進入了這個階段。我很想談一些細節，但我會從 Marc 那裡接過話，我會讓他詳細說明。

Sure. Thanks, John. Yes, I think there is some really interesting patterns that are relatively common across industries. And then you can also see where there's a lot of growth to come. Many industries create, at least in some level, in 3D. They use CAD tools. They create their manufacturing or their designs in some sort of 3D package. For many years, those were then sort of transformed through their own process and then someone would come with a camera and take photos of the final product. And if you wanted to show a different configuration, they take photos of another product that was configured differently. Because the data from that sort of core engineering component didn't easily flow to where customers were or where the use case need was over the long term.

當然。謝謝，約翰。是的，我認為有一些非常有趣的模式在各個行業中相對普遍。然後你也可以看到未來會有很大的增長。許多行業至少在某種程度上以 3D 形式進行創作。他們使用 CAD 工具。他們以某種 3D 封裝創建他們的製造或設計。多年來，這些都是通過他們自己的過程進行改造的，然後有人會帶著相機來為最終產品拍照。如果您想展示不同的配置，他們會拍攝另一種配置不同的產品的照片。因為來自那種核心工程組件的數據不容易流向客戶所在的地方或用例需求長期存在的地方。

So what we see is there's a very common pattern where these companies want to ingest the huge amounts of data that they have in 3D, which by the way, can in many cases be much larger than the content even in large games in terms of polygons, in terms of meshes or point cloud data when they're looking at sort of what they have.

所以我們看到有一種非常常見的模式，這些公司想要攝取他們擁有的大量 3D 數據，順便說一下，在許多情況下，即使在大型遊戲中，就多邊形而言，這些數據可能比內容大得多，當他們查看他們所擁有的東西時，就網格或點雲數據而言。

They want to take that, they want to be able to easily configure it, not just at an engineering level, but at an end customer or product marketer level. They want to be able to manage it across multiple streams.

他們想要接受這一點，他們希望能夠輕鬆配置它，不僅在工程級別，而且在最終客戶或產品營銷人員級別。他們希望能夠跨多個流管理它。

Take automotive as an example. Many of the use cases that automotive has for the HMI systems inside of the car, they also want to work effortlessly on a customer's phone. And so the 3D capability to be able to transform from kind of static creation at the front end of a process through every phase of creation, whether it's simulation, management, configuration, all the way to the end user following the exact same pattern that we've seen in games, which is customers want access to things across the screens that matter for them, whether that's a PC, a laptop or a mobile phone or [MDR]. And so when we look at what we can do to deliver on a bunch of solutions inside of digital twins, it's about enabling that easy flow of data and use cases across the life cycle.

以汽車為例。在汽車內部的 HMI 系統的許多用例中，他們還希望在客戶的手機上輕鬆工作。因此，3D 功能能夠從流程前端的靜態創建轉變為創建的每個階段，無論是模擬、管理、配置，一直到最終用戶，都遵循與我們完全相同的模式'已經在遊戲中看到，即客戶希望通過屏幕訪問對他們來說很重要的東西，無論是 PC、筆記本電腦、手機還是 [MDR]。因此，當我們著眼於如何在數字雙胞胎中交付一系列解決方案時，它是關於在整個生命週期中實現數據和用例的輕鬆流動。

And then just one more layer on patterns. One part of this is customers wanted to reach their customer and sell better. Configurators, 3D showrooms, virtual try-ons, they're trying to communicate better, more richly, increase basket sizes and increase transactions.

然後再增加一層圖案。其中之一是客戶希望接觸他們的客戶並更好地銷售。配置器、3D 陳列室、虛擬試穿，他們試圖更好、更豐富地交流，增加購物籃大小並增加交易。

Other thing people are asking, of course, they want to operate something. They have the manufacturing facility. They want to run it in the digital twin. They want to run massive simulation in parallel with that to get 5%, 10% or 1% improvement in efficiency and effectiveness. They want to run and test new configurations. And so it's an operating IoT-driven thing.

人們問的其他事情，當然，他們想要操作一些東西。他們有製造設施。他們想在數字孿生中運行它。他們希望同時運行大規模模擬，以使效率和有效性提高 5%、10% 或 1%。他們想要運行和測試新配置。所以這是一個由物聯網驅動的東西。

And then another arena for this is design. And by way of example, it's relatively easy to use Unity to put a car on a bridge and do what you could do in a wind tunnel, infinitely cheaper and infinitely better to run simulation around that and help inform their design.

然後另一個領域是設計。舉例來說，使用 Unity 將汽車放在橋上並做你可以在風洞中做的事情相對容易，圍繞它運行模擬並幫助他們的設計提供無限便宜和無限好。

Another fourth area is people are using it for training. So a lot of training around this. So operating something from an airport to a manufacturing facility, reaching a customer for retail and helping them buy, these are all patterns. And so we're getting closer and closer to being able to say the professional service component can shrink away over time. We'll still be doing a lot of professional services. But these are increasingly products we can put in front of customers they can just use to do a lot of these things. But that's where most of the energy is going for the stuff.

另一個第四個領域是人們將其用於培訓。所以圍繞這個進行了大量的培訓。因此，從機場運營到製造設施，接觸客戶進行零售並幫助他們購買，這些都是模式。因此，我們越來越接近能夠說專業服務組件會隨著時間的推移而縮小。我們仍然會做很多專業服務。但是這些越來越多的產品我們可以放在客戶面前，他們可以用來做很多這樣的事情。但這就是大部分精力用於這些東西的地方。

All right. Well, thank you very much, everyone. We'll be at conferences in June at Bank of America, William Blair and Stifel and Wedbush, and we may see you at those conferences. So until then, have a good rest of your day. Thank you so much.

好的。嗯，非常感謝大家。我們將於 6 月在美國銀行、William Blair、Stifel 和 Wedbush 參加會議，我們可能會在這些會議上見到您。所以在那之前，好好休息一天。非常感謝。

Thank you all.

謝謝你們。

Thank you.

謝謝你。