About this content About Andrew Kessel Andrew is a financial journalist with experience covering public companies in a wide breadth of industries, including tech, medicine, cryptocurrency, mining and retail. In addition to Proactive, he has been published in a Financial Times-owned newsletter covering broker-dealer firms and in the Columbia Misourian newspaper as the lead reporter focused on higher education. He got his start with an internship at Rolling Stone magazine.  Read more About the publisher Pr ...

Unity Software said Monday that it's cutting 1,800 jobs, or about 25% of its workforce, in the latest round of layoffs at the gaming technology company. The stock jumped almost 4% in extended trading. Unity said in a regulatory filing that the cuts are part of a corporate restructuring plan. The company told investors in November that it would implement a "comprehensive assessment" of its product portfolio and conduct a financial evaluation  that would "likely include discontinuing certain product offerings ...

Virtual-reality design firm Unity Software Inc. U, +3.18% on Monday said it planned to lay off around 1,800 employees, or 25% of its staff, amid efforts to focus on its core business. The company, whose software is used by the film and videogame industries, said it expected the dismissals to take place largely in the first quarter, but said it couldn’t yet estimate the costs for things like severance and employee benefits. Monday’s announcement comes after the company in November said it planned to close o ...

The most recent trading session ended with Unity Software Inc. (U) standing at $37.05, reflecting a +0.32% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.34%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.56%.The the stock of company has risen by 17.24% in the past month, leading the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 2.56%.The investment community will be paying close attention to ...

Financial Data and Key Metrics Changes - Unity Software transitioned from a money-losing to a cash flow positive company within a year, indicating significant improvement in financial health [8] - The company is undergoing a comprehensive assessment of its product portfolio to ensure revenue growth, margin expansion, and sustainable business opportunities [14][15] Business Line Data and Key Metrics Changes - Unity is focusing on narrowing its scope and enhancing operational efficiency, similar to strategies previously employed at Red Hat [20][24] - The integration of the "create" and "grow" solutions is expected to drive developer success and improve overall performance [28][31] Market Data and Key Metrics Changes - Unity holds over 70% market share in the mobile editor segment, providing a strong foundation for growth [31] - The overall market for game development and operation is estimated to be a hundred billion dollar market, with Unity currently holding less than 1% share [52] Company Strategy and Development Direction - The company aims to become the trusted leader for creators, focusing on building a best-in-class platform that supports creators from design to monetization [6][12] - Unity is committed to accelerating growth by focusing on large, growing markets and enhancing technology offerings [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the need for swift decision-making and transparency in operations to rebuild trust with game developers [35][40] - The company is optimistic about future growth, emphasizing the importance of focused execution and the potential for improved performance in 2024 [80][81] Other Important Information - Unity has decided not to provide guidance for the year to avoid any incentives for delaying necessary business changes [39][84] - The company is planning to make changes to its product portfolio in Q4, with full implementation expected by the end of Q1 [15] Q&A Session Summary Question: How is Unity addressing operational efficiency? - Unity is focusing on narrowing its scope and enhancing execution to drive efficiency, similar to past experiences at Red Hat [20][24] Question: What is the strategy for integrating create and grow solutions? - The integration aims to create a single view of customers and enhance the value delivered throughout the development and monetization lifecycle [28][31] Question: Why was guidance for the year pulled? - The decision was made to ensure swift action on business changes without the temptation to delay for better short-term numbers [39][40] Question: What is the outlook for growth in 2024? - Management is confident that focused execution will lead to improved growth performance in 2024 [80][81] Question: What are the plans for cost structure optimization? - Unity is evaluating its product portfolio and looking for synergies across teams to drive efficiencies [76][77]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-39497 UNITY SOFTWARE INC. (Exact name of registrant as specified in its charter) Delaware 27-0334803 (State ...

Unity Software Inc. (NYSE:U) Q2 2023 Earnings Conference Call August 2, 2023 5:00 PM ET Company Participants Richard Davis - Investor Relations John Riccitiello - Chief Executive Officer, President and Chairman Luis Visoso - Chief Financial Officer Conference Call Participants Clark Lampen - BTIG Brian Fitzgerald - Wells Fargo Securities Dylan Becker - William Blair Brent Bracelin - Piper Sandler Gili Naftalovich - Goldman Sachs Matt Cost - Morgan Stanely Richard Davis Welcome to the Unity's Second Quarter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-39497 30 3rd Street San Francisco, California 94103‑3104 (Address, including zip code, of principal executive of ...

Unity Software Inc. (NYSE:U) Q1 2023 Earnings Conference Call May 10, 2023 5:00 PM ET Company Participants Richard Davis - Investor Relations John Riccitiello - Chairman, President and CEO Luis Visoso - Chief Financial Officer Conference Call Participants Matt Cost - Morgan Stanley Clark Lampen - BTIG Dylan Becker - William Blair Gili Naftalovich - Goldman Sachs Stephen Ju - Credit Suisse Bernie McTernan - Needham & Company Parker Lane - Stifel Financial Corp. Operator Welcome to Unity’s First Quarter 2023 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-39497 UNITY SOFTWARE INC. (Exact name of registrant as specified in its charter) Delaware 27-0334803 (State or ...