Unity (NYSE: U), the leading platform to create and grow games
and interactive experiences, today announced financial results for
the fourth quarter and fiscal year ended December 31, 2024.
"The Company’s fourth quarter results meaningfully exceeded
expectations on both revenue and profit, underscoring our progress
in building a new Unity,” said Matt Bromberg, President and CEO of
Unity.
“The successful launch of Unity 6, the appeal of our new pricing
model, and the progress we’re making in AI for our advertising
customers are providing a lot of optimism for the future,” Bromberg
continued.
Fourth Quarter 2024 Results:
- Revenue was $457 million, compared to $609 million in the
fourth quarter 2023.
- Revenue from our strategic portfolio was $442 million, compared
to $423 million, up 4% year-over-year.
- Create Solutions revenue was $152 million, compared to $290
million in the fourth quarter 2023.
- Grow Solutions revenue was $305 million, compared to $319
million in the fourth quarter 2023.
- GAAP net loss was $123 million, with a margin of (27)%.
- Adjusted EBITDA was $106 million, with a margin of 23%.
- Net cash provided by operating activities was $112
million.
- Free Cash Flow was $106 million.
Full Year 2024 Results:
- Revenue was $1,813 million, compared to $2,187 million for the
full year 2023.
- Revenue from our strategic portfolio was $1,723 million,
compared to $1,733 million, down 1% year-over-year.
- Create Solutions revenue was $614 million, compared to $859
million for the full year 2023.
- Grow Solutions revenue was $1,199 million, compared to $1,328
million for the full year 2023.
- GAAP net loss was $664 million, with a margin of (37)%.
- Adjusted EBITDA was $390 million, with a margin of 21%.
- Net cash provided by operating activities was $316
million.
- Free Cash Flow was $286 million.
Fourth Quarter Results
Revenue
Revenue was $457 million, down 25% year-over-year driven by our
portfolio reset.
Create Solutions revenue was $152 million, down 47%
year-over-year. Excluding the impact of approximately $99 million
of incremental revenue in the fourth quarter of 2023 from
terminating an agreement with Wētā FX limited (the “Wētā FX
termination”) revenue would have been down 20% year-over-year. The
year-over-year decrease was driven by our portfolio reset,
partially offset by 15% growth in subscription revenue, and 50%
growth in Industry strategic revenue.
Grow Solutions revenue was $305 million, down 5% year-over-year.
Excluding the impact of the return of customer incentives issued by
ironSource prior to the merger (“customer credits”) for which we
received approximately $21 million of revenue in the fourth quarter
of 2023, Grow Solutions revenue would have been up 2%
year-over-year. The change was driven by strong seasonal
demand.
Basic and Diluted Net Loss per share
Basic and diluted net loss per share was $0.30, as compared to
$0.66 for the same period in 2023.
Net Loss and Net Cash Provided by Operating
Activities
Net loss for the quarter was $123 million, compared to $254
million in the fourth quarter of 2023.
Net loss margin was (27)%, compared to (42)% in the fourth
quarter of 2023, due to decreases in our personnel-related
costs.
Net cash provided by operating activities for the quarter was
$112 million, compared to $72 million in the fourth quarter of
2023.
Adjusted EBITDA and Free Cash Flow
Adjusted EBITDA for the quarter was $106 million, with a margin
of 23%, compared to $186 million in the fourth quarter of 2023,
with a margin of 30%. Excluding the $102 million impact from the
Wētā FX termination, and excluding $21 million in customer credits
each in the fourth quarter of 2023, adjusted EBITDA would have been
$63 million in the fourth quarter of 2023, with a margin of 13%.
The better than expected adjusted EBITDA margin in the fourth
quarter of 2024 was due to better cost control and higher than
expected revenue.
Free Cash Flow for the quarter was $106 million, compared to $61
million in the fourth quarter of 2023.
Full Year 2024 Results
Revenue
Revenue was $1,813 million, down 17% year-over-year driven by
our portfolio reset, the Wētā FX termination, and decreases in Grow
Solutions revenue.
Create Solutions revenue was $614 million, down 29%
year-over-year. Excluding the approximately $99 million impact of
the Wētā FX termination, revenue would have been down 19%
year-over-year. The year-over-year decrease was driven by our
portfolio reset, and partially offset by 13% growth in our
subscription revenues and 55% growth in industry strategic
revenue.
Grow Solutions revenue was $1,199 million, down 10%
year-over-year. Excluding the $72 million impact of the customer
credits in 2023 and an immaterial amount of customer credits in
2024, Grow Solutions revenue would have been down 4%
year-over-year.
Basic and Diluted Net Loss per share
Basic and diluted net loss per share was $1.68 compared to $2.16
in the previous year.
Net Loss and Net Cash Provided by Operating
Activities
Net loss for the year was $664 million compared to $826 million
in the full year 2023.
Net loss margin of (37)%, compared to (38)% in the full year
2023, due to decreases in our personnel-related costs, and the gain
on repurchase of our convertible notes.
Net cash provided by operating activities for the year was $316
million, compared to $235 million in the full year 2023.
Adjusted EBITDA and Free Cash Flow
Adjusted EBITDA for the year was $390 million, with a margin of
21%, compared to $448 million in the full year 2023, with a margin
of 20%. Excluding the $102 million impact from the Wētā FX
termination, and excluding $72 million in customer credits in the
full year 2023, adjusted EBITDA would have been $274 million in the
full year 2023, with a margin of 14%. The better than expected
adjusted EBITDA margin in the full year 2024 was due to better cost
control.
Free Cash Flow for the year was $286 million, compared to $179
million in the full year 2023.
Liquidity
As of December 31, 2024, our cash and cash equivalents, and
restricted cash was $1,528 million, and decreased by $76 million,
as compared with $1,604 million as of December 31, 2023. This
decrease was primarily driven by $316 million of net cash provided
by our operating activities, offset by $338 million used in
financing activities primarily for the repurchase of convertible
notes, and $42 million used in investing activities.
Q1 2025 Guidance1
- Revenue of $405 to $415 million.
- Adjusted EBITDA of $60 to $65 million.
About Unity
Unity [NYSE: U] offers a suite of tools to create, market and
grow games and interactive experiences across all major platforms
from mobile, PC, and console, to extended reality (XR). For more
information, visit Unity.com.
UNITY SOFTWARE INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands, except par share
data)
(Unaudited)
As of
December 31, 2024
December 31, 2023
Assets
Current assets:
Cash and cash equivalents
$
1,517,672
$
1,590,325
Accounts receivable, net
573,884
611,723
Prepaid expenses and other
133,795
122,843
Total current assets
2,225,351
2,324,891
Property and equipment, net
98,819
140,887
Goodwill
3,166,304
3,166,304
Intangible assets, net
1,066,235
1,406,745
Other assets
180,698
204,614
Total assets
$
6,737,407
$
7,243,441
Liabilities and stockholders'
equity
Current liabilities:
Accounts payable
$
13,948
$
14,517
Accrued expenses and other
294,951
307,704
Publisher payables
394,284
385,113
Deferred revenue
186,304
186,769
Total current liabilities
889,487
894,103
Convertible notes
2,238,922
2,711,750
Long-term deferred revenue
16,846
6,015
Other long-term liabilities
165,004
217,195
Total liabilities
3,310,259
3,829,063
Commitments and contingencies
Redeemable noncontrolling interests
230,627
225,797
Stockholders' equity:
Common stock, $0.000005 par value:
Authorized shares - 1,000,000 and
1,000,000
Issued and outstanding shares - 409,393
and 384,872
2
2
Additional paid-in capital
6,936,038
6,259,479
Accumulated other comprehensive loss
(9,425
)
(5,009
)
Accumulated deficit
(3,735,944
)
(3,071,830
)
Total Unity Software Inc. stockholders'
equity
3,190,671
3,182,642
Noncontrolling interest
5,850
5,939
Total stockholders' equity
3,196,521
3,188,581
Total liabilities and stockholders'
equity
$
6,737,407
$
7,243,441
UNITY SOFTWARE INC.
CONSOLIDATED STATEMENTS OF
OPERATIONS AND COMPREHENSIVE LOSS
(In thousands, except per share
amounts)
(Unaudited)
Three Months Ended
Year Ended
December 31,
December 31,
2024
2023
2024
2023
Revenue
$
457,099
$
609,268
$
1,813,255
$
2,187,317
Cost of revenue
115,537
261,582
480,853
733,722
Gross profit
341,562
347,686
1,332,402
1,453,595
Operating expenses
Research and development
217,970
265,150
924,830
1,053,588
Sales and marketing
175,747
215,367
752,649
834,625
General and administrative
71,499
126,129
410,072
398,176
Total operating expenses
465,216
606,646
2,087,551
2,286,389
Loss from operations
(123,654
)
(258,960
)
(755,149
)
(832,794
)
Interest expense
(5,839
)
(6,155
)
(23,542
)
(24,580
)
Interest income and other income
(expense), net
9,108
20,840
111,558
59,529
Loss before income taxes
(120,385
)
(244,275
)
(667,133
)
(797,845
)
Provision for (benefit from) Income
taxes
2,138
9,710
(2,846
)
28,477
Net loss
(122,523
)
(253,985
)
(664,287
)
(826,322
)
Net income (loss) attributable to
noncontrolling interest and redeemable noncontrolling interests
204
(1,239
)
(173
)
(4,311
)
Net loss attributable to Unity Software
Inc.
(122,727
)
(252,749
)
(664,114
)
(822,011
)
Basic and diluted net loss per share
attributable to Unity Software Inc.
$
(0.30
)
$
(0.66
)
$
(1.68
)
$
(2.16
)
Weighted-average shares used in
computation of basic and diluted net loss per share
405,172
381,788
395,951
380,457
Net loss
(122,523
)
(253,985
)
(664,287
)
(826,322
)
Change in foreign currency translation
adjustment
(8,102
)
5,847
(5,544
)
(4,556
)
Change in unrealized gains on derivative
instruments
—
—
—
289
Comprehensive loss
$
(130,625
)
$
(248,138
)
$
(669,831
)
$
(830,589
)
Net income (loss) attributable to
noncontrolling interest and redeemable noncontrolling interests
204
(1,239
)
(173
)
(4,311
)
Foreign currency translation attributable
to noncontrolling interest and redeemable noncontrolling
interests
(1,664
)
1,210
(1,128
)
(949
)
Comprehensive loss attributable to
noncontrolling interest and redeemable noncontrolling interests
(1,460
)
(26
)
(1,301
)
(5,260
)
Comprehensive loss attributable to
Unity Software Inc.
$
(129,165
)
$
(248,112
)
$
(668,530
)
$
(825,329
)
UNITY SOFTWARE INC.
CONSOLIDATED STATEMENTS OF
CASH FLOWS
(In thousands)
(Unaudited)
Three Months Ended
Year Ended
December 31,
December 31,
2024
2023
2024
2023
Operating activities
Net loss
$
(122,523
)
$
(253,985
)
$
(664,287
)
$
(826,322
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization
103,161
232,254
408,980
563,916
Stock-based compensation expense
110,356
180,953
596,249
648,696
Gain on repayment of convertible note
—
—
(61,371
)
—
Impairment of property and equipment
(83
)
—
22,791
—
Other
8,574
13,056
23,309
24,613
Changes in assets and liabilities, net of
effects of acquisitions:
Accounts receivable, net
1,896
(6,555
)
37,359
21,791
Prepaid expenses and other
746
(2,040
)
(11,203
)
20,314
Other assets
(7,113
)
11,514
(2,746
)
45,047
Accounts payable
652
(6,881
)
742
(6,313
)
Accrued expenses and other
8,696
2,952
(6,671
)
(21,069
)
Publisher payables
11,731
(23,147
)
9,170
(60,509
)
Other long-term liabilities
(1,181
)
12,017
(47,963
)
(47,245
)
Deferred revenue
(2,720
)
(88,035
)
11,194
(128,219
)
Net cash provided by operating
activities
112,192
72,103
315,553
234,700
Investing activities
Purchases of short-term investments
—
—
—
(212
)
Proceeds from principal repayments and
maturities of short-term investments
—
—
—
102,673
Purchases of non-marketable
investments
—
—
—
(2,500
)
Purchases of intangible assets
—
—
(12,860
)
—
Purchases of property and equipment
(6,442
)
(11,361
)
(29,549
)
(55,921
)
Net cash provided by (used in)
investing activities
(6,442
)
(11,361
)
(42,409
)
44,040
Financing activities
Repayments of convertible note
—
—
(414,999
)
—
Repurchase and retirement of common
stock
—
—
—
(250,000
)
Proceeds from issuance of common stock
from employee equity plans
19,390
10,991
76,692
75,985
Net cash provided by (used in)
financing activities
19,390
10,991
(338,307
)
(174,015
)
Effect of foreign exchange rate changes
on cash, cash equivalents, and restricted cash
(13,227
)
11,510
(11,223
)
(6,146
)
Increase (decrease) in cash, cash
equivalents, and restricted cash
111,913
83,243
(76,386
)
98,579
Cash, cash equivalents, and restricted
cash, beginning of period
1,415,968
1,521,024
1,604,267
1,505,688
Cash, cash equivalents, and restricted
cash, end of period
$
1,527,881
$
1,604,267
$
1,527,881
$
1,604,267
About Non-GAAP Financial Measures
To supplement our consolidated financial statements prepared and
presented in accordance with generally accepted accounting
principles in the United States (GAAP) we use certain non-GAAP
financial measures, as described below, to evaluate our ongoing
operations and for internal planning and forecasting purposes. We
believe the following non-GAAP measures are useful in evaluating
our operating performance. We are presenting these non-GAAP
financial measures because we believe, when taken collectively,
they may be helpful to investors because they provide consistency
and comparability with past financial performance.
However, non-GAAP financial measures have limitations in their
usefulness to investors because they have no standardized meaning
prescribed by GAAP and are not prepared under any comprehensive set
of accounting rules or principles. In addition, other companies,
including companies in our industry, may calculate similarly-titled
non-GAAP financial measures differently or may use other measures
to evaluate their performance, all of which could reduce the
usefulness of our non-GAAP financial measures as tools for
comparison. As a result, our non-GAAP financial measures are
presented for supplemental informational purposes only and should
not be considered in isolation or as a substitute for our
consolidated financial statements presented in accordance with
GAAP.
We define adjusted EBITDA as GAAP net income or loss excluding
benefits or expenses associated with stock-based compensation,
amortization of acquired intangible assets, depreciation,
acquisitions, restructurings and reorganizations, insurance
reimbursement for legal expenses, interest, income tax, and other
non-operating activities, which primarily consist of foreign
exchange rate gains or losses. We define adjusted EBITDA margin as
adjusted EBITDA as a percentage of revenue. We define adjusted
gross profit as GAAP gross profit excluding expenses associated
with stock-based compensation, amortization of acquired intangible
assets, depreciation, and restructurings and reorganizations. We
define adjusted gross margin as adjusted gross profit as a
percentage of revenue.
We define non-GAAP cost of revenue as GAAP cost of revenue,
excluding expenses associated with stock-based compensation,
amortization of acquired intangible assets, depreciation, and
restructurings and reorganizations. We define non-GAAP research and
development expense as research and development expense, excluding
expenses associated with stock-based compensation, amortization of
acquired intangible assets, depreciation, and restructurings and
reorganizations. We define non-GAAP sales and marketing expense as
GAAP sales and marketing expense, excluding expenses associated
with stock-based compensation, amortization of acquired intangible
assets, depreciation, and restructurings and reorganizations. We
define non-GAAP general and administrative expense as general and
administrative expense excluding expenses associated with
stock-based compensation, depreciation, acquisitions,
restructurings and reorganizations, and insurance reimbursement for
legal expenses. We define free cash flow as net cash provided by
operating activities less cash used for purchases of property and
equipment.
UNITY SOFTWARE, INC.
Non-GAAP
Reconciliation
(In thousands)
Three Months Ended
Year Ended
December 31,
December 31,
2024
2023
2024
2023
Adjusted EBITDA reconciliation
Revenue
$
457,099
$
609,268
$
1,813,255
$
2,187,317
GAAP net loss
$
(122,523
)
$
(253,985
)
$
(664,287
)
$
(826,322
)
Add:
Stock-based compensation expense
$
110,203
$
180,953
$
469,128
$
648,696
Amortization of intangible assets
expense
$
88,465
$
219,647
$
353,371
$
515,489
Depreciation of property and equipment
$
14,696
$
12,606
$
55,609
$
48,427
Restructuring and reorganization costs
$
16,398
$
31,396
$
266,855
$
70,373
Acquisition-related costs
$
—
$
—
$
—
$
888
Legal settlement costs
$
—
$
—
$
—
$
(3,250
)
Interest expense
$
5,839
$
6,155
$
23,542
$
24,580
Interest income and other expense, net
$
(9,108
)
$
(20,840
)
$
(111,558
)
$
(59,529
)
Income tax expense
$
2,138
$
9,710
$
(2,846
)
$
28,477
Adjusted EBITDA
$
106,108
$
185,642
$
389,814
$
447,829
GAAP net loss margin
(27
)%
(42
)%
(37
)%
(38
)%
Adjusted EBITDA margin
23
%
30
%
21
%
20
%
Adjusted gross profit
reconciliation
GAAP gross profit
$
341,562
$
347,686
$
1,332,402
$
1,453,595
Add:
Stock-based compensation expense
9,685
21,972
43,566
80,213
Amortization of intangible assets
expense
27,293
139,754
108,580
243,690
Depreciation expense
2,372
2,839
9,613
10,480
Restructuring and reorganization costs
117
10,447
15,154
13,510
Adjusted gross profit
$
381,029
$
522,698
$
1,509,315
$
1,801,488
GAAP gross margin
75
%
57
%
73
%
66
%
Adjusted gross margin
83
%
86
%
83
%
82
%
Operating expenses
reconciliation
Cost of revenue
GAAP cost of revenue
$
115,537
$
261,582
$
480,853
$
733,722
Stock-based compensation expense
(9,685
)
(21,972
)
(43,566
)
(80,213
)
Amortization of intangible assets
expense
(27,293
)
(139,754
)
(108,580
)
(243,690
)
Depreciation expense
(2,372
)
(2,839
)
(9,613
)
(10,480
)
Restructuring and reorganization costs
(117
)
(10,447
)
(15,154
)
(13,510
)
Non-GAAP cost of revenue
$
76,070
$
86,570
$
303,940
$
385,829
GAAP cost of revenue as a percentage of
revenue
25
%
43
%
27
%
34
%
Non-GAAP cost of revenue as a percentage
of revenue
17
%
14
%
17
%
18
%
Research and development
GAAP research and development
expense
$
217,970
$
265,150
$
924,830
$
1,053,588
Stock-based compensation expense
(58,077
)
(76,001
)
(240,556
)
(290,160
)
Amortization of intangible assets
expense
(17,737
)
(28,734
)
(69,345
)
(84,022
)
Depreciation expense
(7,025
)
(5,608
)
(26,686
)
(21,994
)
Acquisition-related costs
—
—
—
—
Restructuring and reorganization costs
(1,892
)
(1,284
)
(54,460
)
(23,588
)
Non-GAAP research and development
expense
$
133,239
$
153,523
$
533,783
$
633,824
GAAP research and development expense as a
percentage of revenue
48
%
44
%
51
%
48
%
Non-GAAP research and development expense
as a percentage of revenue
29
%
25
%
29
%
29
%
Sales and marketing
GAAP sales and marketing
expense
$
175,747
$
215,367
$
752,649
$
834,625
Stock-based compensation expense
(20,898
)
(38,189
)
(95,171
)
(143,461
)
Amortization of intangible assets
expense
(43,435
)
(51,159
)
(175,446
)
(187,777
)
Depreciation expense
(3,199
)
(2,450
)
(11,567
)
(8,756
)
Restructuring and reorganization costs
(5,135
)
(98
)
(56,888
)
(9,059
)
Non-GAAP sales and marketing
expense
$
103,080
$
123,471
$
413,577
$
485,572
GAAP sales and marketing expense as a
percentage of revenue
38
%
35
%
42
%
38
%
Non-GAAP sales and marketing expense as a
percentage of revenue
23
%
20
%
23
%
22
%
General and administrative
GAAP general and administrative
expense
$
71,499
$
126,129
$
410,072
$
398,176
Stock-based compensation expense
(21,543
)
(44,791
)
(89,835
)
(134,862
)
Depreciation expense
(2,100
)
(1,709
)
(7,743
)
(7,197
)
Acquisition-related costs
—
—
—
(888
)
Restructuring and reorganization costs
(9,254
)
(19,567
)
(140,353
)
(24,216
)
Insurance reimbursement for legal
settlement
—
—
—
3,250
Non-GAAP general and administrative
expense
$
38,602
$
60,062
$
172,141
$
234,263
GAAP general and administrative expense as
a percentage of revenue
16
%
21
%
23
%
18
%
Non-GAAP general and administrative
expense as a percentage of revenue
8
%
10
%
10
%
11
%
Free Cash Flow reconciliation
Net cash provided by operating
activities
$
112,192
$
72,103
$
315,553
$
234,700
Less:
Purchases of property and equipment
(6,442
)
(11,361
)
(29,549
)
(55,921
)
Free cash flow
105,750
60,742
286,004
178,779
Net cash provided by (used in) investing
activities
(6,442
)
(11,361
)
(42,409
)
44,040
Net cash provided by (used in) financing
activities
19,390
10,991
(338,307
)
(174,015
)
Cautionary Statement Regarding Forward-Looking Statements
This press release and the earnings call referencing this press
release contain “forward-looking statements,” as that term is
defined under federal securities laws, including, but not limited
to, statements regarding Unity’s outlook and future financial
performance, including: (i) Unity’s ability to further enhance its
platform, accelerate product innovation and enhance financial
performance; (ii) expectations regarding the release of Vector,
including anticipated timing for the rollout on iOS and Android and
the impact on financial results, as well as expectations regarding
Vector’s improvements over time and Unity’s ability to mature the
product and operate it at scale; (iii) plans to allocate R&D to
the highest impact initiatives, complement revenue growth with
ongoing margin expansion, drive growth and to be prudent stewards
of shareholder capital; (iv) near term expected uses of capital;
(v) plans to focus on per share returns and reduce shareholder
dilution from stock-based compensation; (vi) expectations regarding
revenue from non-strategic portfolio and stock-based compensation
expense for 2025; (vii) Unity’s opportunity to gradually de-lever
over the next several years; and (viii) Unity’s financial guidance
for the first quarter 2025.
The words “aim,” “believe,” “may,” “will,” “estimate,”
“continue,” “intend,” “expect,” “plan,” “project,” and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are subject to risks,
uncertainties, and assumptions. If the risks materialize or
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. Risks
include, but are not limited to, those related to: (i) the impact
of macroeconomic conditions, such as inflation, high interest
rates, and limited credit availability which could further cause
economic uncertainty and volatility; (ii) competition in the
advertising market and Unity’s ability to compete effectively;
(iii) ongoing restrictions related to the gaming industry in China;
(iv) ongoing geopolitical instability, particularly in Israel,
where a significant portion of the Grow operations is located; (v)
Unity’s ability to recover or reengage its customers, or attract
new customers; (vi) the impact of any decisions to change how Unity
prices its products and services; (vii) Unity’s ability to achieve
and sustain profitability; (viii) Unity’s ability to retain
existing customers and expand the use of its platform; (ix) Unity’s
ability to further expand into new industries and attract new
customers; (x) the impact of any changes of terms of service,
policies or technical requirements from operating system platform
providers or application stores which may result in changes to
Unity or its customers’ business practices; (xi) Unity’s ability to
maintain favorable relationships with hardware, operating system,
device, game console and other technology providers; (xii) breaches
in its security measures, unauthorized access to its platform,
data, or its customers’ or other users’ personal data; (xiii)
Unity’s ability to manage growth effectively and manage costs
effectively; (xiv) the rapidly changing and increasingly stringent
laws, regulations, contractual obligations and industry standards
that relate to privacy, data security and the protection of
children; (xv) the effectiveness of the company reset; (xvi)
Unity’s ability to successfully transition executive leadership and
(xvii) the launch of Vector. Further information on these and
additional risks that could affect our results is included in our
filings with the Securities and Exchange Commission (SEC),
including our Annual Report on Form 10-K, filed with the SEC on
February 21, 2025, and our future reports that we may file with the
SEC from time to time, which could cause actual results to vary
from expectations. Copies of reports filed with the SEC are
available on the Unity Investor Relations website. Statements
herein speak only as of the date of this release, and Unity assumes
no obligation to, and does not currently intend to, update any such
forward-looking statements after the date of this release except as
required by law.
Source: Unity Software Inc.
_________________________________ 1 These statements are
forward-looking and actual results may differ materially. Refer to
the “Forward-Looking Statements” safe harbor section below for
information on the factors that could cause our actual results to
differ materially from these forward-looking statements.
We have not reconciled our estimates for non-GAAP financial
measures to GAAP due to the uncertainty and potential variability
of expenses that may be incurred in the future. As a result, a
reconciliation is not available without unreasonable effort and we
are unable to address the probable significance of the unavailable
information. We have provided a reconciliation of other GAAP to
non-GAAP financial measures in the financial statement tables for
our third quarter non-GAAP results included in this shareholder
letter.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250220165070/en/
Investor Relations : ir@unity3d.com
investors.unity.com/
Media Relations : UnityComms@unity3d.com
investors.unity.com/resources/contact-media-relations/
Unity Software (NYSE:U)
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