Unity has released its financial results for the three months ended September 30, 2024, stating that the third quarter results “exceeded guidance.”
For the fourth quarter, Unity is guiding revenue from its strategic portfolio to between $422 million and $427 million, and adjusted EBITDA to between $79 million and $84 million for the entire company. Full-year forecasts have also been revised upward, from $1.68 to $1.69 billion to $1.7 to $1.71 billion.
He also announced the appointment of new chief financial officer, Jarrod Yahes.
the numbers
- Total revenue: $447 million (down 18% year over year)
- Create Solutions Revenue: $132 million (up 5% year over year)
- Grow Solutions Revenue: $298 million (down 5% year over year)
- Net loss: $125 million (unchanged from the same quarter last year and down from $126 million in the second quarter)
The highlights
While strategic portfolio revenue declined 2% year over year to $429 million, and its total revenue declined 18% year over year to $447 million, Unity’s net loss decreased from $126 million to $125 million compared to last quarter.
The company attributes the quarter-over-quarter increase in its Create Solutions revenue to growth in subscription revenue, which is up 12%.
Its non-strategic portfolio fell 84% to $17 million due to its “portfolio reset.” This figure is also expected to continue declining in the fourth quarter.
“The entire gaming ecosystem works better when Unity delivers on its commitment to giving developers and publishers what they need to create and market great games,” said CEO and President Matt Bromberg.
“Although we are just at the beginning of our journey to transform the Company, we are motivated by our progress and the response of our customers and community. The opportunity is clear, the market wants us to succeed and we believe we have everything we need to achieve consistent and sustainable growth and profitability for years to come.
“As always, our deepest gratitude goes to our customers, partners, employees and investors for their unwavering support.”
