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Press Release: Unity Announces Fourth Quarter and -5-

· 02/04/2021 16:05
stock -- (100,000) -- (148,714) Purchase and retirement of treasury stock -- (4,208) (110) (286,375) Proceeds from exercise of stock options 9,945 931 25,404 11,813 Proceeds from exercise of stock options in connection with nonrecourse promissory note -- -- 8,856 -- --------- -------- --------- -------- Net cash provided by financing activities 7,382 671 1,701,455 161,472 --------- -------- --------- -------- Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash 492 155 673 (172) --------- -------- --------- -------- Increase (decrease) in cash, cash equivalents, and restricted cash (487,877) (47,350) 1,146,851 (126,177) Cash and restricted cash, beginning of period 1,781,824 194,446 147,096 273,273 --------- -------- --------- -------- Cash, cash equivalents, and restricted cash, end of period $1,293,947 $ 147,096 $1,293,947 $ 147,096 ========= ======== ========= ======== UNITY SOFTWARE INC. RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL MEASURES (In thousands, except percentages and per share data) (Unaudited) Three Months Ended Year Ended --------------------------- ----------------------------- December 31, December 31, --------------------------- ----------------------------- 2020 2019 2020 2019 ------------- ------------ -------------- ------------- Gross profit reconciliation GAAP gross profit $ 167,829 $128,076 $ 600,098 $ 423,182 Add: Stock-based compensation expense 4,307 645 10,626 3,198 Employer tax related to employee stock transactions 477 2 1,117 193 -------- ------- --------- -------- Non-GAAP gross profit $ 172,613 $128,723 $ 611,841 $ 426,573 ======== ======= ========= ======== GAAP gross margin 76% 81% 78% 78% Non-GAAP gross margin 78% 81% 79% 79% Operating expenses reconciliation Research and development GAAP research and development expense $ 120,008 $ 73,096 $ 403,515 $ 255,928 Add: Stock-based compensation expense (23,925) (4,171) (66,038) (13,521) Employer tax related to employee stock transactions (2,936) (321) (5,134) (1,643) Amortization of intangible assets expense (3,106) (2,756) (12,142) (8,495) -------- ------- --------- -------- Non-GAAP research and development expense $ 90,041 $ 65,848 $ 320,201 $ 232,269 ======== ======= ========= ======== GAAP research and development expense as a percentage of revenue 54% 46% 52% 47% Non-GAAP research and development expense as a percentage of revenue 41% 42% 41% 43% Sales and marketing GAAP sales and marketing expense $ 68,677 $ 48,813 $ 216,416 $ 174,135 Add: Stock-based compensation expense (8,923) (1,858) (23,769) (6,124) Employer tax related to employee stock transactions (555) (8) (888) (490) Amortization of intangible assets expense (1,604) (1,024) (5,613) (3,075) -------- ------- --------- -------- Non-GAAP sales and marketing expense $ 57,595 $ 45,923 $ 186,146 $ 164,446 ======== ======= ========= ======== GAAP sales and marketing expense as a percentage of revenue 31% 31% 28% 32% Non-GAAP sales and marketing expense as a percentage of revenue 26% 29% 24% 30% General and administrative GAAP general and administrative expense $ 59,991 $ 54,747 $ 254,979 $ 143,788 Add: Stock-based compensation expense (14,014) (13,929) (34,196) (21,637) Employer tax related to employee stock transactions (908) (5) (1,037) (482) Charitable contribution to donor-advised fund -- -- (63,615) -- -------- ------- --------- -------- Non-GAAP general and administrative expense $ 45,069 $ 40,813 $ 156,131 $ 121,669 ======== ======= ========= ======== GAAP general and administrative expense as a percentage of revenue 27% 35% 33% 27% Non-GAAP general and administrative expense as a percentage of revenue 20% 26% 20% 22% Loss from operations reconciliation GAAP loss from operations $ (80,847) $(48,580) $ (274,812) $(150,669) Add: Stock-based compensation expense 51,169 20,603 134,629 44,480 Employer tax related to employee stock transactions 4,876 336 8,176 2,808 Amortization of intangible assets expense 4,710 3,780 17,755 11,570 Charitable contribution to donor-advised fund -- -- 63,615 -- -------- ------- --------- -------- Non-GAAP loss from operations $ (20,092) $(23,861) $ (50,637) $ (91,811) ======== ======= ========= ======== GAAP operating margin (37)% (31)% (36)% (28)% Non-GAAP operating margin (9)% (15)% (7)% (17)% Net loss and net loss per share reconciliation GAAP net loss $ (83,502) $(50,579) $ (282,308) $(163,190) Add: Stock-based compensation expense 51,169 20,603 134,629 44,480 Employer tax related to employee stock transactions 4,876 336 8,176 2,808 Amortization of intangible assets expense 4,710 3,780 17,755 11,570 Charitable contribution to donor-advised fund -- -- 63,615 -- Income tax effect of non-GAAP adjustments (4,474) (2,803) (7,437) (8,671) -------- ------- --------- -------- Non-GAAP net loss $ (27,221) $(28,663) $ (65,570) $(113,003) ======== ======= ========= ======== GAAP net loss per share attributable to our common stockholders, basic and diluted $ (0.31) $ (0.97) $ (1.66) $ (2.39) Total impact on net loss per share, basic and diluted, from non-GAAP adjustments 0.21 0.18 1.27 0.44 -------- ------- --------- -------- Non-GAAP net loss per share attributable to our common stockholders, basic and diluted $ (0.10) $ (0.79) $ (0.39) $ (1.95) ======== ======= ========= ======== Weighted-average common shares used in GAAP net loss per share computation, basic and diluted 272,134 122,363 169,973 114,442 ======== ======= ========= ======== Weighted-average common shares used in non-GAAP net loss per share computation, basic and diluted 272,134 122,363 169,973 114,442 ======== ======= ========= ======== Free cash flow reconciliation Net cash provided by (used in) operating activities $ 14,765 $ 892 $ 19,913 $ (67,936) Less: Purchase of property and equipment (11,200) (10,593) (40,156) (27,035) -------- ------- --------- -------- Free cash flow $ 3,565 $ (9,701) $ (20,243) $ (94,971) ======== ======= ========= ======== Net cash used in investing activities $(510,516) $(49,068) $ (575,190) $(219,541) Net cash provided by financing

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February 04, 2021 16:05 ET (21:05 GMT)