Unity recently announced its latest quarterly financial results for fiscal 2021. Although the company is not yet profitable, it is making more and more money.
Unity reported $315.9 million in revenue for the three months ended December 31, 2021, beating overall expectations for the quarter. That figure is up 43% from the fourth quarter of 2020 when revenue was just $220.3 million.
The loss for the quarter was $144.8 million, a 79% increase from the $80.8 million Unity lost in the fourth quarter of 2020. Unity said the increase in losses was largely due to higher stock-based compensation expenses.
Unity’s full-year results are quite upbeat compared to the same period last year, especially considering this is their second year on the stock market. The company posted a full-year loss of $531.7 million on revenue of $1.1 billion in 2021 (up 44% from 2020). It only lost $2.748 in 2020, which means its losses have grown 93% year over year.
In addition to the increase in stock-based compensation expense in 2021, Unity said its loss came from the $49.8 million it spent on terminating the lease agreement.
Unity’s annual results also provided data on its customers’ revenue exceeding $100,000. That number was up 33% year over year, jumping from 793 customers at the end of 2020 to 1,052 customers at the end of 2021.
This does mean that more high-income customers are choosing to do business with Unity. That number will likely continue to climb after Unity’s acquisition of Weta Digital.