Unity, maker of the popular Unity game engine, has signed up to go public at an incredible time. Its main competitor, Epic Games, is currently busy arguing that Apple is holding the Unreal Engine hostage, and Epic is due to appear in court later this afternoon to seek an injunction so Apple cannot block access to developers.
What’s even more incredible, though, the numbers in Unity’s new S-1 file show that the company is far more of a formidable rival to Epic than we thought.
We knew that the early surge in interest in Unity might have forced Epic’s hand, first when Epic slashed the price of Unreal Engine in 201
Despite these steps, Unity says 2019 more than the half The best games for phones, PCs and consoles were created with Unity – including 53 percent of the 1,000 best games in the iOS App Store and Google Play.
According to Unity, as of June 30th, the company had a “global reach” of 2 billion active end users per month (read: consumers, not developers), which corresponds to up to 8 billion hours of play per month and 1.5 million active developers per month. These developers used Unity to create 8,000 apps and games every month for the six months leading up to June 30th.
And while certainly many of those 8,000 apps and games are tiny projects (the allure of game engines like Unity and today’s Unreal is that anyone can try), Unity said it had 716 specific customers that sold more than 100,000 US dollars. Dollars a year added to the bottom line – 60 of them use Unity for something other than games.
The S-1 expects Unity to continue growing in both revenue ($ 542 million in 2019, down from $ 381 million in 2018) and workforce – from 2,715 employees in December to 3,379 in June.
Financially, however, it’s not all good news, as Unity admits never made a profit from the beginning. It lost $ 163 million this year, up from $ 131 million the year before.
Of course, Unity wants you to believe that the steady growth in sales could make up for this loss, but as with any IPO filing, there are many reasons (also known as “risk factors”) why this may not be the case.
I won’t bore you with all of them here, but this one stood out:
Sound familiar? These are the things Apple and Epic are fighting over right now.
Unity also spends a lot of time discussing how changes in China’s handling of intellectual property, gaming software, and corporate ownership could affect its business.
Unity plans to trade under the symbol “U” on the New York Stock Exchange, which is frankly a bit of a surprise. Little did I know you could still bring up dibs on a one-letter ticker symbol.