Unity Software Inc. - U STOCK NEWS

Unity Software reported record revenues for Q4 2020, totaling $220.3 million, a 39% year-over-year increase. For the full year, revenue reached $772.4 million, up 43% compared to 2019. Despite losses from operations of $80.8 million in Q4, there was a notable reduction in non-GAAP losses per share to $0.10. The company anticipates continued growth in 2021 with a revenue guidance of $950 million to $970 million. Challenges like IDFA changes may impact customer acquisition, potentially reducing revenue by $30 million.

Unity (NYSE: U) will release its fourth-quarter and fiscal year 2020 financial results on February 4, 2021, after market close, followed by a webcast at 2 p.m. PT/5 p.m. ET. The webcast can be accessed at investors.unity.com. Lock-up agreements for company insiders will expire on February 8, 2021, allowing for the potential sale of shares post-IPO. Unity is a leading platform for creating interactive, real-time 3D content for various industries, including gaming, architecture, and automotive design.

Unity (NYSE: U) has partnered with Snap Inc. to boost Unity Ads' reach among Snapchat advertisers and introduce Snap technology to game developers via Snap Kit. With Unity powering over 50% of mobile games, this collaboration enhances mobile game discoverability on both platforms. Unity Ads now taps into the Snap Audience Network, reporting over 22.9 billion monthly ad impressions, reaching more than 2 billion active users. Developers can utilize Snap Kit features to enhance gameplay and user engagement, cementing Unity’s position in the mobile gaming landscape.

Unity (NYSE: U) has acquired RestAR, a Tel Aviv-based company specializing in computer vision and deep learning technologies for creating high-quality 3D models of consumer products. This acquisition follows the launch of Unity Forma, enhancing digital marketing capabilities for brands and retailers. RestAR's technology enables quick and accessible 3D modeling via mobile devices, aiming to democratize digital marketing for various businesses. The partnership is expected to revolutionize visual content creation across industries, particularly in retail, as it adapts to new consumer behaviors accelerated by the COVID-19 pandemic.

Unity (NYSE: U) announced the launch of Unity 2020.2 TECH Stream, featuring over 400 improvements aimed at enhancing user experience and productivity. The update includes new tools for Quality of Life and Programmer Tools, such as Safe Mode for error management and deterministic compilation to optimize workflow. Furthermore, significant performance improvements entail faster searches and enhanced graphics tools for high-fidelity projects. This release ensures a seamless transition to the upcoming Long Term Support (LTS) version while addressing user feedback for better stability and robustness.

Unity (NYSE: U) has launched Unity Forma, an innovative platform designed to enhance digital marketing production for professionals. This tool allows teams to swiftly create and publish interactive content from 3D engineering data, significantly cutting production costs and timelines.

By providing marketers with powerful capabilities without requiring programming skills, Unity Forma aims to transform the marketing landscape, enabling immersive and engaging product experiences.

Unity (NYSE: U) has announced a significant integration between Unity Reflect and Autodesk BIM 360, enhancing real-time collaboration for project teams in the architecture, engineering, and construction sectors. This partnership, which began in October 2017, allows users to conduct augmented reality (AR) design reviews and collaborate more effectively across devices and locations. Unity Reflect also supports multiple Autodesk products, including Revit and Navisworks, and aims to streamline workflows, improve decision-making, and transform construction operations.

Unity Software Inc. (NYSE: U) reported strong Q3 2020 results, with revenue of $200.8 million, marking a 53.3% year-over-year increase. Despite significant operational losses of $141.7 million (70.6% of revenue), the non-GAAP loss from operations improved to $8.4 million. The company anticipates Q4 revenues between $200 million and $204 million and a full-year revenue outlook of $752 million to $756 million. Unity is witnessing growth across diverse sectors beyond gaming, reflected in a 144% net expansion rate and increasing customer engagement.

Unity (NYSE: U) has announced partnerships with Playing for the Planet, Pledge 1%, and Rare Beauty to enhance its social responsibility commitment. These collaborations will promote climate action, mental health awareness, and community support. Seeded with 750,000 shares valued at $39 million at IPO, the Unity Charitable Fund will provide grants for educational and environmental initiatives. Additionally, Unity will donate $100,000 towards mental health projects that support underserved communities. This initiative underscores Unity's commitment to leveraging its platform for positive social impact.