Unity Software reported Q3 2024 revenue of $446.5 million, down 18% year-over-year, as the company executed its strategic portfolio reset focusing on core Engine, Cloud and Monetization solutions. Create Solutions revenue declined to $147.4 million while Grow Solutions revenue fell to $299.1 million. The company posted a net loss of $124.5 million for the quarter.The company substantially completed its workforce reduction announced in Q1, incurring $205 million in employee separation costs and $45 million in restructuring charges related to office space optimization. Management emphasized the portfolio reset aims to streamline operations and improve profitability by concentrating on core offerings while exiting non-strategic businesses.Looking ahead, Unity expects continued impact from the strategic reset as non-core revenue declines throughout 2024. The company announced changes to its leadership team, including the appointment of Jarrod Yahes as CFO effective January 2025. Unity maintains focus on enhancing its machine learning capabilities and data infrastructure to strengthen competitive positioning in the advertising market.

Unity Software reported Q3 2024 revenue of $446.5 million, down 18% year-over-year, as the company executed its strategic portfolio reset focusing on core Engine, Cloud and Monetization solutions. Create Solutions revenue declined to $147.4 million while Grow Solutions revenue fell to $299.1 million. The company posted a net loss of $124.5 million for the quarter.The company substantially completed its workforce reduction announced in Q1, incurring $205 million in employee separation costs and $45 million in restructuring charges related to office space optimization. Management emphasized the portfolio reset aims to streamline operations and improve profitability by concentrating on core offerings while exiting non-strategic businesses.Looking ahead, Unity expects continued impact from the strategic reset as non-core revenue declines throughout 2024. The company announced changes to its leadership team, including the appointment of Jarrod Yahes as CFO effective January 2025. Unity maintains focus on enhancing its machine learning capabilities and data infrastructure to strengthen competitive positioning in the advertising market.