Unity Software Inc

U

Equity

ISIN US91332U1016 / Valor 56795613

New York Stock Exchange, Inc (2024-11-21)

USD 22.46+3.84%

Unity Software Inc
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About company

Unity Software Inc. specializes in providing a real-time 3D development platform used for creating video games, simulations, and other interactive content.

Summarized from source with an LLMView SourceSector: Technology

Revenue Performance

Unity Software Inc. reported revenue of $426 million for the second quarter of 2024, which represents a 6% decrease year-over-year. However, this figure exceeded the company's guidance range of $420 million to $425 million, showcasing better-than-expected performance despite the decline.

Net Loss Improvement

For the second quarter of 2024, Unity Software Inc. reported a GAAP net loss of $126 million. This marks a significant improvement of 35% compared to the net loss of $193 million in the same quarter of the previous year, indicating progress in the company's financial health.

Adjusted EBITDA Growth

Unity Software Inc. achieved an adjusted EBITDA of $113 million in Q2 2024, a 29% increase from the $88 million reported in the same quarter last year. This performance also surpassed the company's guidance range of $75 million to $80 million, driven by cost savings and margin expansion.

Free Cash Flow Surge

In the second quarter of 2024, Unity Software Inc. generated $80 million in free cash flow, a substantial increase of 137% from the $34 million reported in the prior year. This improvement highlights the company's enhanced cash management and operational efficiency.

Updated Full-Year Guidance

Unity Software Inc. adjusted its full-year revenue guidance for 2024 to a range of $1,680 million to $1,690 million, down from the previous range of $1,760 million to $1,800 million. The company also revised its adjusted EBITDA guidance to $340 million to $350 million, reflecting a more cautious outlook on revenue recovery in its Grow business.

Summarized from source with an LLMView Source

Key figures

-21.0%1Y

-88.2%3Y

%5Y

Performance

55.2%1Y

81.1%3Y

76.7%5Y

Volatility