San Francisco-based cross-platform game engine Unity Software announced its financial results for the third quarter ended September 30, 2020.
As reported by the company in a release on its website, Unity Software generated $200.8 million in revenue in the third quarter ended September 30, with a 53% year-on-year increase.
The company which went public in September also reported a $141.7 million loss from operations -or 70% of its revenue- in the third quarter of 2020 due to a ‘’one-time charge’’ associated with the restricted stock options as a result of its initial public offering as well as the Social Impact fund it recently launched.
“We are very pleased to start our public company journey with such a strong quarter,” said Kim Jabal, Unity’s Chief Financial Officer, “Revenue of $200.8 million in the third quarter, up 53.3% year-over-year, reflects the resilience of our business model and strong execution across our operational teams and geographies. Our robust growth has reinforced our confidence in the fundamental strength of our business model, and in the long-term opportunity that we see ahead.”
“Our fiscal year 2020 revenue outlook is a range of $752 million to $756 million. We expect fourth quarter revenue of $200 million to $204 million. We also anticipate an improvement in our full year 2020 non-GAAP operating margin to (9)%.”