Unity backs strategic revenue guidance of $1.76B-$1.8B for FY24

Unity said: “For the second quarter, we are guiding strategic revenue to $420 to $425, down -6% to -7% year-over-year. We are guiding Adjusted EBITDA to $75 to $80 million for the total company. For the full year, we are confirming our strategic revenue guidance of $1,760 to $1,800 million, which would represent an increase of 2% to 4% year-over-year and $400 to $425 million in Adjusted EBITDA for the total company. We expect to exit 2024 with Adjusted EBITDA margins over 25%. In Create, we expect revenue growth in the second half to mainly come from game subscriptions, continued growth in Industries and growth in multiplayer as well as continued progress in LiveOps and collaboration services. In Grow we expect growth to come from further product enhancements, including rich data utilization, which are designed to improve our models and generate a stronger ROAS for our customers. We expect 478 million fully diluted shares at the end of the second quarter and 492 million at the end of the fiscal year.”