Unity has presented its quarterly results for the third quarter of 2023 (July-September).
The company responsible for the most popular graphics engine in the industry brought in $544 million, exceeding the $323 million in the same period the previous year.
However, as is customary in the company, it chained one more quarter losing money, in this case 125 million dollars. This figure is, however, half the losses compared to the same period of the previous year.
James M. Whitehurst, new CEO of Unity after the departure of John Riccitiello, indicates that revenues were within expectations but believes they can increase this figure.
The CEO believes that to accelerate revenue growth and improve profitability they have to become a “more efficient, more agile and faster growing” company.
To do this, they plan to implement a cost reduction plan that includes “discontinuing the offering of certain products, reducing our staff and reducing our offices” for the first quarter of 2024.
At the end of September, the company tried to introduce a new business model, the Runtime Fee, which proposed charging developers for downloads above certain thresholds and which was poorly received. Finally, a less aggressive version of the model was presented, although the company’s image has been irreparably damaged for many developers who have chosen to abandon this engine, such as MegaCrit (Slay the Spire).
Whitehurst assures that they expect the impact of this new business model to be minimal on 2024 profits but should increase in the future as consumers adopt this model for their future launches.
