−Removed: Unity is the world’s leading platform to provide real-time 3D ("RT3D") development tools and services for creating and growing interactive, 2D, 3D, augmented and virtual reality experiences across all major platforms and device endpoints.
−Removed: Our platform is used by creators of all types - such as developers, artists, and designers to build content for various industries, including gaming, film, retail, automotive, architecture, engineering, and construction.
+Added: Unity is the world's leading platform for creating and growing interactive, real-time 3D ("RT3D") content and experiences.
+Added: Our comprehensive set of software, including AI solutions, supports creators through the entire development lifecycle as they build, run, and grow immersive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices.
+Added: Our platform is used by creators of all types - such as developers, artists, and designers - to build content for various industries, including gaming, retail, automotive, architecture, engineering, and construction.
Unity was originally founded as Over the Edge Entertainment in Denmark in 2004.
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In November 2022, we completed the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated July 13, 2022, by and among Unity Software Inc., Ursa Aroma Merger Subsidiary Ltd., a company organized under the laws of the State of Israel and a direct wholly owned subsidiary of Unity, and ironSource Ltd., a company organized under the laws of the State of Israel ("ironSource", and such transactions, the "ironSource Merger").
−Removed: Following the ironSource Merger, we now focus on two complementary and interconnected solutions:
−Removed: Create Solutions and Grow Solutions, which includes ironSource.
−Removed: See Item 7 of Part II, "Management’s Discussion and Analysis of Financial Condition and Results of Operations" for a discussion of the changes to how we present revenue results following the ironSource Merger and Item 8 of Part II, "Financial Statements and Supplementary Data" – Note 5 – Acquisitions, for a further discussion of the acquisition of ironSource.
+Added: Our platform consists of two complementary sets of solutions:
+Added: Create Solutions and Grow Solutions which together comprise our strategic portfolio surrounding the Unity Engine, Cloud and Monetization.
Create Solutions
−Removed: Our Create Solutions are a robust set of tools for the development of high-definition, real-time 2D and 3D content.
−Removed: Designed with creators in mind, the tools are used by artists, designers, and developers across a range of industries ranging from games to aerospace, film to retail, medical to manufacturing, and beyond.
−Removed: Create Solutions includes our custom scripting tools and a high-definition render pipeline;
−Removed: graphics, animation, and audio tools;
+Added: Our Create Solutions are a robust set of tools and services used to build, ship and run high-definition, real-time 2D and 3D content.
+Added: Designed for developers, these tools and services are used across a range of industries ranging from games to aerospace, construction to retail, medical to manufacturing, and beyond.
+Added: Create Solutions includes our custom real-time 3D engine and development environment with a high-definition render pipeline;
+Added: AI-driven content creation and workflow enhancements, graphics, animation, and audio tools;
navigation, networking, user interface tools and more.
−Removed: Delivered as a modular application architecture, creators can leverage our products and extensibility to easily edit, run, and iterate interactive RT3D and 2D experiences that can be created once and deployed to a variety of platforms.
+Added: Enhanced by cloud services including asset management, DevOps tools and multiplayer game support, creators can leverage our products and extensibility to easily edit, run, and iterate interactive RT3D and 2D experiences that can be created once and deployed to a variety of platforms.
Grow Solutions
−Removed: Our Grow Solutions offer customers the ability to grow and engage their user base and monetize their content—from 2D puzzle games to multiplayer, multi-platform games, or other 3D interactive content—irrespective of whether the content was created in Unity.
+Added: Our Grow Solutions are our Monetization products, which offer customers the ability to grow and engage their user base and monetize their content—from 2D puzzle games to multiplayer, multi-platform games, or other 3D interactive content—irrespective of whether the content was created in Unity.
Many of our customers create games and applications with the purpose of building a profitable business.
−Removed: This requires both the acquisition of end-users at a reasonable cost and the monetization of these end-users as they engage over time with the content.
−Removed: We help our customers grow their businesses in the mobile app ecosystem, from pre-launch testing to user acquisition, growth and retention.
−Removed: We do so by offering a mediation platform, which enables mobile app developers to monetize their apps through a variety of ad formats and maximize their ad revenue by leveraging multiple ad networks.
−Removed: In addition, we offer robust cross-channel marketing solutions, which enable developers to scale their user base by promoting their apps on our own and external ad networks, mobile devices, and on social media and search channels such as Apple Search Ads.
−Removed: Finally, we offer analytics and optimization tools designed to enable developers to grow their profitability sustainably over the long term.
−Removed: Following the ironSource Merger, ironSource forms part of our Grow Solutions (which we generally referred to prior to the acquisition as Operate Solutions).
+Added: This requires both the acquisition of end-users at a reasonable cost and the monetization of these end-users as they engage with the content over time.
+Added: We help our customers grow their businesses in the mobile app ecosystem by offering a comprehensive suite of products designed to help customers successfully scale their businesses, including our mediation platform, ad networks, and offerwall.
+Added: In addition, Supersonic from Unity is our publishing solution, which allows small studios and independent developers who require expertise in publishing their mobile games to launch their apps and maximize their commercial success, through the use of a combination of tools, full transparency, and a team of industry experts.
+Added: Finally, Aura from Unity enables app developers to connect with users through a unique channel that offers on-device app discovery, while allowing telecom operators to better engage and monetize their users throughout the device lifecycle.
Unity Software Inc.
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• Create Solutions:
−Removed: We primarily compete against proprietary game engines built in-house by large game studios, as well as Cocos2d-x (Chukong Technologies) and Unreal Engine (Epic Games), which offer game development tools primarily serving the PC games and mobile games sectors, and, in the case of Unreal Engine (Epic Games), industries beyond gaming.
+Added: We primarily compete against proprietary game engines built in-house by large game studios, as well as Cocos2d-x (Chukong Technologies), Godot, and Unreal Engine (Epic Games), which offer game development tools primarily serving the PC games and mobile games sectors, and, in the case of Unreal Engine (Epic Games), industries beyond gaming.
Outside of gaming, we also compete with other development platforms that offer 2D and 3D design products.
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Risk Factors" for a discussion of risks related to competition.
−Removed: Unity Software Inc.
Privacy and Data Security
Creative assets, performance and user data are critical to our customers’ businesses.
−Removed: We devote considerable resources to our security program, regularly testing the security of user assets utilized by our services, and developing easy-to-use features that content creators can leverage to enhance the security of their creative products.
+Added: We devote considerable resources to our security program, regularly testing the security of user assets utilized by our services, and developing easy-to-use features that content creators can leverage to enhance the
+Added: Unity Software Inc.
+Added: security of their creative products.
Our team of security practitioners, working in partnership with peers across our company, works to identify and mitigate risks, assess our security measures against industry standards and best practices, and continue to evaluate ways to improve.
−Removed: The privacy of developers and application users and the protection of the data in our ecosystem are important to our continued growth and success.
−Removed: We conduct privacy impact assessments and data protection impact assessments, conduct product and feature reviews, maintain records of data processing, and provide support for privacy and data security-related requests.
−Removed: We maintain a dedicated privacy team that leads a group of employees, federated throughout the organization, who serve in roles responsible for data governance and management within product groups and functional areas.
−Removed: Our privacy team reports progress on the program and its functions quarterly to a team of executives charged with data governance oversight, and conducts regular privacy-related training.
−Removed: Additionally, our Data Protection Officer periodically updates the audit committee of our board of directors on changes in laws and Unity’s compliance activities.
−Removed: We are committed to complying, and helping our customers comply, with privacy and data security laws globally.
−Removed: We monitor guidance from industry and regulatory bodies, meet with regulators and update our product features and contractual commitments when necessary to meet new or evolving privacy legal requirements.
−Removed: We maintain a privacy policy that describes how Unity collects, uses, and discloses information, and what choices organizations and users have.
−Removed: Because our business involves the collection, use, storage, and transmission of personal information, we are subject to numerous federal, state, local, and foreign laws, regulations, and other obligations relating to privacy and data security.
−Removed: Countries around the world have adopted or are proposing similar laws and regulations relating to privacy and data security, and we may become subject to them as we expand our operations into new geographic markets.
−Removed: Refer to "Item 1A.
−Removed: Risk Factors" for a discussion of risks related to privacy and data security.
Intellectual Property
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jurisdictions, and 90 utility patent applications (including 6 provisional applications and 16 active PCT applications) pending in the United States and globally.
−Removed: As of such date, we also had 29 registered design patents in non-U.S.
−Removed: jurisdictions and 13 active design patent applications, four of which are in the United States.
+Added: As of such date, we also had 1 registered design patent in the United States, 36 registered design patents in non-U.S.
+Added: jurisdictions and 4 pending design patent applications, 1 of which is in the United States.
While we believe our patents and patent applications in the aggregate are important to our competitive position, no single patent or patent application is material to us as a whole.
−Removed: We also have trademark rights in our name and other brand indicia and have trademark registrations for select marks in the United States and other jurisdictions around the world, and registered domain names for websites that we use in our business.
+Added: We also have trademark rights in our name and other brand indicia and have trademark registrations for select marks in the United States and other jurisdictions around the world.
+Added: We also have registered domain names for websites that we use in our business, such as www.unity.com and similar variations.
We control access to and use of our proprietary technology and other confidential information through the use of internal and external controls, including contractual protections with employees, contractors, customers, and partners.
+Added: It is our practice to enter into confidentiality agreements with our third parties in order to limit access to, disclosure, and use of, our confidential information and proprietary information.
+Added: We further control the use of our proprietary technology and intellectual property through provisions in our terms of service.
We intend to pursue additional intellectual property protection to the extent we believe it would be beneficial and cost effective.
−Removed: Unity Software Inc.
Human Capital Management
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In addition, our geographic diversification enhances our ability to retain and attract talent, and as of December 31, 2023, approximately 75% of our full-time employees were located outside of the United States.
−Removed: We believe that the strength of our culture is fueled by our commitment to our values, inclusion, and social impact, making Unity an attractive place for top talent to work and grow.
−Removed: Our Values and Commitment to Inclusion
−Removed: The Unity values capture what we represent and form the foundation of our company culture.
−Removed: They have a material impact on how we do our jobs and how we treat each other every day.
−Removed: They also guide us in making the right decisions for our customers, partners and creators.
−Removed: Our values are:
−Removed: Users First, Best Ideas Win, In It Together, and Go Bold.
−Removed: We live out these values through our global framework for Inclusion, which centers on three principles:
−Removed: Empathy, Respect, and Opportunity.
−Removed: Empathy fuels connection, respect builds trust, and opportunity empowers employees.
−Removed: These principles cascade throughout our company and encourage us all to meet each other where we are and celebrate our differences.
+Added: In the fourth quarter of 2023, we initiated a number of steps to reduce our cost structure.
+Added: For example, we announced and substantially completed plans to scale back our office footprint by approximately 14 locations, and in the first quarter of 2024, we announced plans to reduce approximately 1,800 employee roles, or approximately 25% of our then-current workforce.
+Added: While we believe these steps were necessary to position Unity for long-term and profitable growth, we still believe that having a strong culture is essential for driving that long-term success.
+Added: Our culture is fueled by our commitment to our values, inclusion, and social impact, making Unity an attractive place for top talent to work and grow.
We invest in our culture in many ways, including a Unity Leadership Program run by senior leaders, frequent Town Hall meetings, executive roundtables, manager and employee development opportunities, and a global Workplace Experience team dedicated to curating local cultural events.
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Compliance with these laws, rules, and regulations has not had, and is not expected to have, a material effect upon our capital expenditures, results of operations, or competitive position, and we do not currently anticipate material capital expenditures for environmental control facilities.
−Removed: Nevertheless, compliance with existing or future governmental regulations, including, but not limited to, those pertaining to global trade, business acquisitions, consumer and data protection, and taxes, could have a material impact on our business in subsequent periods.
+Added: Nevertheless, compliance with existing or future governmental regulations, including, but
+Added: Unity Software Inc.
+Added: not limited to, those pertaining to global trade, business acquisitions, consumer and data protection, and taxes, could have a material impact on our business in subsequent periods.
Refer to "Item 1A.
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Copies of our reports on Forms 10-K, Forms 10-Q, and Forms 8-K, may be obtained, free of charge, electronically on this website as soon as reasonably practicable after we file such material with, or furnish such material to, the SEC.
−Removed: Unity Software Inc.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.