Unity Software Inc Stock Price, News & Analysis

Unity Software reported $322.9 million in revenue for Q3 2022, marking a 13% year-over-year increase. The Create Solutions segment saw substantial growth, generating $128.6 million (up 54%), while Operate Solutions revenues fell 7% to $171.7 million. The company's net loss per share was $0.84, compared to $0.41 the previous year. Unity also announced a merger with ironSource, aiming to create an integrated platform for app creators. The outlook for Q4 2022 anticipates revenues between $425 million and $445 million.

Unity (NYSE: U) has successfully merged with ironSource, enhancing its position as the leading platform for mobile app developers. This strategic merger provides developers with comprehensive tools to build, run, and monetize real-time 3D games. The combined entity is projected to be profitable and generate positive free cash flow. Unity aims to create more value for developers throughout their journey, further expanding its ecosystem and presence in the market.

Unity (NYSE: U) has rescheduled its third quarter 2022 financial results announcement to November 9, 2022, after market close. The new time is set for 3 p.m. PT / 6 p.m. ET, with a webcast to follow. Investors can access the webcast at investors.unity.com. A replay will also be available on the Investor Relations website. Unity is recognized as a leader in creating real-time 3D content and offers comprehensive solutions for various industries.

Unity (NYSE: U) is hosting a groundbreaking multi-destination virtual concert featuring TikTok sensation Blu DeTiger as part of its Unite 2022 event. The concert, to be broadcast on platforms VRrOOm and Future Fest, will utilize Unity's live graphics platform Volta for visual effects. This initiative reflects Unity's commitment to evolving live entertainment through real-time 3D technology, enabling seamless simulcasting across virtual platforms. The event aims to connect a global audience, showcasing the limitless potential of virtual and augmented reality in entertainment.

Unity (NYSE: U) will announce third quarter 2022 financial results post-market on November 9, 2022. A webcast of the announcement is scheduled for 2 p.m. PT/5 p.m. ET, accessible via this link. Unity is a leading platform for creating and managing interactive real-time 3D content, utilized by various creators including game developers and filmmakers. This PR serves as a precursor to the earnings release and is aimed at informing investors and stakeholders about the upcoming financial disclosure.

Unity has launched new self-serve features for Game Server Hosting and Matchmaker to enhance multiplayer game development. This follows the release of the 2022 Multiplayer Report, which reveals that 77% of gamers play multiplayer games, highlighting social factors as critical in purchase decisions. The report shows that 91% of gamers enjoy crossplay, and over half (61%) have purchased downloadable content recently. With these tools, Unity aims to support developers in creating engaging, connected gaming experiences.

AppLovin (NASDAQ: APP) has announced it will not submit another proposal to merge with Unity Software (NYSE: U) and has officially withdrawn its previous proposal from August 9, 2022. After evaluating the potential benefits of a merger, AppLovin concluded that maintaining its independence is more advantageous for stakeholders. The company will focus on enhancing its technology and expanding market share, aiming for long-term growth in core markets like connected TV. CEO Adam Foroughi emphasized the importance of innovation and value creation for future success.

Unity (NYSE: U) is holding a special meeting on October 7, 2022, at 10:00 a.m. P.T. to vote on the approval of shares issuance related to its merger with ironSource Ltd. The record date for stockholders is September 2, 2022. The merger is subject to stockholder approvals and other customary conditions, with an expected close in Q4 2022. Unity emphasizes the importance of reading the joint proxy statement/prospectus filed with the SEC for crucial information.

ironSource supports the merger with Unity after Unity's Board rejected an unsolicited proposal from AppLovin. The merger aims to enhance synergies and profitability, projecting $1 billion in Adjusted EBITDA by the end of 2024 and $300 million in annual synergies by year three. The Board remains committed to completing the merger in Q4 2023, emphasizing the strategic value for shareholders and customers.