Unity Q3 2024 Earnings Report
Key Takeaways
Unity's Q3 2024 strategic portfolio revenue reached $429 million, a 2% decrease year-over-year, exceeding guidance. The company's net loss was $125 million. Adjusted EBITDA was $92 million, also surpassing expectations. The company is focusing on fostering a culture of execution and discipline, accelerating product innovation, and strengthening customer relationships.
Unity's strategic portfolio revenue was $429 million, exceeding guidance.
Net loss for the quarter was $125 million, consistent with the previous year.
Adjusted EBITDA was $92 million, surpassing guidance.
The cancellation of the Runtime Fee and reversion to a subscription-based model has unblocked renewals and accelerated new relationships.
Unity
Unity
Forward Guidance
For the fourth quarter, Unity is guiding revenue for its strategic portfolio to $422 to $427 million and Adjusted EBITDA to $79 to $84 million for the total company.
Positive Outlook
- Revenue guidance for our strategic portfolio now at $1,703 to $1,708 million
- Adjusted EBITDA of $363 to $368 million
- New pricing changes will help drive consistent revenue growth in the double digit range for our core subscription business.
- Unity 6 is designed to enable the creation of better games, built more quickly and more efficiently than ever before.
- The entire gaming ecosystem functions better when Unity is delivering on its commitment to provide developers and publishers what they need to make and market great games.