Unity Software Reports a $145M Net Loss in Its First Post-IPO Earnings Report
Video game development platform and technology firm Unity Software published its first quarterly earnings report since raising $1.3B USD by going public in September. During the third quarter of 2020, the company generated total net revenues of $201M, up 53.3% from $131M in the same period of 2019.
The company recorded a 33.6% increase in customers that generated more than $100K in revenues in the trailing 12twelve months as of Sept. 30, which climbed from 553 to 739 year-over-year. This segment of Unity’s customer base represents the majority of its revenues and revenue growth.
In September, Unity added a new revenue stream by introducing an enterprise-grade Content Delivery Network (CDN) called Cloud Content Delivery, which is built for game developers as a solution to store, manage, and deploy cloud-based game content releases.
Unity ended the quarter on a $145M loss, which increased by 318% from a $45.6M loss in Q3 2019. Distributed to the shareholders of the company, the loss translated into a loss per share of $0.97.
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