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EX - 99.1 2 a2021q1ex - 991.htm EX - 99.1 Unity Announces First Quarter 2021 Financial Results Q1 revenue up 41 % , exceeding expectations ; company raises 2021 revenue outlook to $ 1 billion SAN FRANCISCO , Calif . , May 11 , 2021 — Unity Software Inc. ( NYSE : U ) , the world's leading platform for creating and operating interactive , real - time 3D content , today announced results for the first quarter ended March 31 , 2021 . Exhibit 99.1 " Our first quarter results are reflective of the powerful transition from linear 2D to real - time 3D , which is one of the most important changes in how people interact with technology , " said John Riccitiello , President and Chief Executive Officer , Unity . " We believe that real - time 3D will continue to grow at an accelerated pace and achieve massive scale . " Unity is the world's leading platform for creating and operating interactive , real - time 3D ( RT3D ) content . With Unity , creators have the tools to become RT3D creators . Creators , ranging from game developers to artists , architects , automotive designers , filmmakers and others , use Unity to make their creative vision come to life . With this broad approach , we believe the opportunity to create and operate rich and immersive experiences is almost limitless , setting up Unity to not only anchor tomorrow's most advanced applications but to enable and power the metaverse at the most foundational level . " Execution in the first quarter was very strong with revenue of $ 234.8 million , an increase of 41 % from last year . We are encouraged by the growth of our customers contributing more than $ 100K of trailing twelve - month revenue and the healthy dollar - based net expansion rate during the first quarter , " said Luis Visoso , Chief Financial Officer , Unity . " We continue to invest strategically in R & D and vertical expansion to enable Unity to lead the transition to real - time 3D . " First Quarter 2021 Financial Highlights Revenue was $ 234.8 million , an increase of 41 % from the first quarter of 2020 . Create Solutions , Operate Solutions , and Strategic Partnerships and Other revenue was $ 70.4 million , $ 146.6 million , and $ 17.8 million , respectively , an increase of 51 % , 40 % , and 12 % , respectively , from the first quarter of 2020 . Loss from operations was $ 110.9 million , or 47 % of revenue , compared to loss from operations of $ 27.4 million , or 16 % of revenue , in the first quarter of 2020. Our first quarter 2021 results were impacted by an increase in stock - based compensation expense primarily related to the satisfaction of the performance vesting condition on outstanding RSUS upon completion of our IPO , and an increase in both stock price and headcount . Non - GAAP loss from operations was $ 23.4 million , or 10 % of revenue , compared to a non - GAAP loss from operations of $ 13.4 million , or 8 % of revenue , in the first quarter of 2020 . Basic and diluted net loss per share was $ 0.39 , compared to basic and diluted net loss per share of $ 0.21 in the first quarter of 2020 . Basic and diluted non - GAAP net loss per share was $ 0.10 , compared to basic and diluted non - GAAP net loss per share of $ 0.11 in the first quarter of 2020 . 837 customers each generated more than $ 100,000 of revenue in the trailing 12 months as of March 31 , 2021 , compared to 668 as of March 31 , 2020 . Dollar - based net expansion rate as of March 31 , 2021 was 140 % as compared to 133 % as of March 31 , 2020 . 1