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Unity Software | 8-K: Unity Software Reports Third Quarter 2024 Financial Results

SEC ·  Nov 7, 2024 13:21

Summary by Moomoo AI

On November 7, 2024, Unity Software Inc. released its financial results for the third quarter ending September 30, 2024. The report highlighted a revenue of $429 million from its strategic portfolio, a slight 2% decrease year-over-year but exceeding the guidance of $415 to $420 million. The company's net loss remained stable at $125 million, identical to the previous year's third quarter. Adjusted EBITDA was reported at $92 million, surpassing the forecasted $75 to $80 million. Unity also announced the appointment of Jarrod Yahes as the new Senior Vice President and Chief Financial Officer, effective January 1, 2025. Yahes, with a rich background in finance, previously served as CFO at Shutterstock, Inc. and brings experience from other technology companies. His compensation package includes a base salary, bonus potential, a sign-on...Show More
On November 7, 2024, Unity Software Inc. released its financial results for the third quarter ending September 30, 2024. The report highlighted a revenue of $429 million from its strategic portfolio, a slight 2% decrease year-over-year but exceeding the guidance of $415 to $420 million. The company's net loss remained stable at $125 million, identical to the previous year's third quarter. Adjusted EBITDA was reported at $92 million, surpassing the forecasted $75 to $80 million. Unity also announced the appointment of Jarrod Yahes as the new Senior Vice President and Chief Financial Officer, effective January 1, 2025. Yahes, with a rich background in finance, previously served as CFO at Shutterstock, Inc. and brings experience from other technology companies. His compensation package includes a base salary, bonus potential, a sign-on bonus, and restricted stock units. The company also noted the transition of Mark Barrysmith from Interim Chief Financial Officer to continuing his role as Senior Vice President and Chief Accounting Officer. Unity's shareholder letter expressed optimism about the company's direction, citing product innovations, new pricing models, and the addition of key management team members as drivers for future growth.

This announcement is a separate document:

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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