U
Unity Software Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Unity Software Inc..
Coverage
Unity's Rule of 40 Doubled to 61. A Third of the Revenue It Didn't Grow, It Sold.
Unity's Q2: revenue $546M up 24% and free cash flow of $202M at a 36.96% margin. The score doubled to 60.9, and the headline growth understates the business.
Our Own Explainer Says the Rule of 40 Captures Stock Compensation 'Not Perfectly'. Here Is How Imperfectly.
The four companies our Rule of 40 explainer praises pay 14.5-21.5% of revenue in stock compensation. Subtract it and two fall below 40. How big the gap is.
Unity's Best Rule of 40 in Years Came Out of the Quarter Its Gross Margin Fell to 31%
Unity enters Q2 2026 earnings with its best Rule of 40 in years — built in a quarter of 31% gross margin and a $0.80 loss per share. What the score leaves out.
Unity Beat Earnings and Crashed 34%. Here's Why.
Unity posted its best quarter in years — record Vector growth, Create stabilizing, stock comp slashed. Then the stock dropped 34% on soft Q1 guidance. Value trap or gift?
Unity Q4 2025: Revenue $503M, losses narrow
Revenue up 10% YoY, EPS -$0.21 (improving). Strong FCF of $119M. Turnaround showing progress.
Unity Q3 2025 beats expectations
Revenue $471M, FCF $151M. Gaming recovery and cost discipline driving improvement.
Where the revenue goes next
Latest: $546M (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $500M |
| 2023Q2 | $533M |
| 2023Q3 | $544M |
| 2023Q4 | $609M |
| 2024Q1 | $460M |
| 2024Q2 | $449M |
| 2024Q3 | $447M |
| 2024Q4 | $457M |
| 2025Q1 | $435M |
| 2025Q2 | $441M |
| 2025Q3 | $471M |
| 2025Q4 | $503M |
| 2026Q1 | $508M |
| 2026Q2 | $546M |
Latest: -$0.05 (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | -$0.67 |
| 2023Q2 | -$0.51 |
| 2023Q3 | -$0.32 |
| 2023Q4 | -$0.66 |
| 2024Q1 | -$0.75 |
| 2024Q2 | -$0.32 |
| 2024Q3 | -$0.31 |
| 2024Q4 | -$0.30 |
| 2025Q1 | -$0.19 |
| 2025Q2 | -$0.26 |
| 2025Q3 | -$0.30 |
| 2025Q4 | -$0.21 |
| 2026Q1 | -$0.80 |
| 2026Q2 | -$0.05 |
Latest: $202M (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | -$19M |
| 2023Q2 | $34M |
| 2023Q3 | $104M |
| 2023Q4 | $61M |
| 2024Q1 | -$15M |
| 2024Q2 | $80M |
| 2024Q3 | $115M |
| 2024Q4 | $106M |
| 2025Q1 | $7M |
| 2025Q2 | $127M |
| 2025Q3 | $151M |
| 2025Q4 | $119M |
| 2026Q1 | $66M |
| 2026Q2 | $202M |
Latest: 440M (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | 376M |
| 2023Q2 | 380M |
| 2023Q3 | 384M |
| 2023Q4 | 380M |
| 2024Q1 | 387M |
| 2024Q2 | 393M |
| 2024Q3 | 399M |
| 2024Q4 | 403M |
| 2025Q1 | 412M |
| 2025Q2 | 418M |
| 2025Q3 | 424M |
| 2025Q4 | 428M |
| 2026Q1 | 434M |
| 2026Q2 | 440M |
Latest: $1.14B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | -$19M |
| 2023Q2 | $15M |
| 2023Q3 | $119M |
| 2023Q4 | $180M |
| 2024Q1 | $165M |
| 2024Q2 | $245M |
| 2024Q3 | $360M |
| 2024Q4 | $466M |
| 2025Q1 | $473M |
| 2025Q2 | $600M |
| 2025Q3 | $751M |
| 2025Q4 | $870M |
| 2026Q1 | $936M |
| 2026Q2 | $1.14B |
Latest earnings
Company History
Founded in Copenhagen by David Helgason, Nicholas Francis, and Joachim Ante to democratize game development.
Goes public on NYSE at $52/share, $13.7B valuation. One of the largest gaming tech IPOs ever.
Merges with ironSource in $4.4B deal to strengthen mobile game monetization. Creates Unity Grow division.
Controversial per-install fee announcement triggers developer revolt. CEO John Riccitiello resigns. Stock drops 50%+.
Matthew Bromberg becomes CEO. Company refocuses on core gaming business, cutting non-core initiatives.
Under new leadership, losses narrow significantly. FCF turns consistently positive. Developer relations improve.
Key Players
The CEO view — 4 podcasts, interviews & articles →
Similar stocks in Enterprise SaaS
Funds we follow holding U
By latest reported 13F position value. Market value at quarter-end, not cost basis.
