Unity, the renowned company, has recently released its financial report for the first quarter of 2024, assuring investors that the restructuring process has been successfully completed.
Let’s delve into the key financial metrics for the quarter, with a comparison to the same period last year shown in brackets:
- Total revenue amounted to $460 million (a decrease of 8%).
- Revenue from the Create Solutions division reached $133 million (an increase of 17%).
- Revenue from the Grow Solutions division stood at $294 million (a decrease of 4%).
- The company reported net losses exceeding $291 million, compared to $254 million in the previous year.
Notably, the Create Solutions segment includes the distribution of the Unity engine, with revenue primarily generated from subscriptions and corporate partnerships. Active subscriptions saw a 13% rise compared to the first quarter of 2023. On the other hand, Grow Solutions focuses on mobile game development and promotion.
These figures indicate that Unity has successfully bounced back from the “install fee” controversy, with a growing number of developer-subscribers.
Accompanying the management’s report was a letter reassuring investors that the 2023 “reboot” has been finalized, and the current financial performance aligns with expectations.
It’s worth recalling the significant restructuring at Unity, which saw approximately 1,800 employees laid off at the beginning of the year, constituting a quarter of the workforce. Additional layoffs occurred in November 2023 and May of the same year.
Looking ahead to 2024, Unity plans to launch Unity 6, integrating tools with neural networks directly into the engine. Under the guidance of former executives from Zynga and Electronic Arts, Matthew Bromberg, the company aims to achieve revenue between $1.76 billion and $1.8 billion by year-end.
Article source: stopgame.ru