Unity SoftwareU

Unity SoftwareU

Revenue: is the business selling more than it used to?

$1.8B+2% YoYFY 2025

→Revenue reached $1.8B in 2025, compounding +10% a year since 2022 though the path has been bumpy. The trailing twelve months are already running at $2.0B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

Net income: how much of that revenue becomes profit?

$-403MFY 2025

→The company lost $403M in 2025, less than the $664M it lost the year before. The losses are narrowing, but it is still burning shareholder money.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

How fast is it growing, year by year?

+2.0%revenue growth, FY 2025

→Revenue grew +2% in 2025 against a five-year average of +22%.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

Revenue per share: is your slice growing as fast as the company?

$4.39revenue per share, FY 2025

→Revenue per share reached $4.39 in 2025, compounding -1% a year against +10% for U as a whole. Dilution absorbed about 10.6 points of that growth. Free cash flow per share stands at $0.96.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

Free cash flow: what is left in real cash after everything?

$404M+41% YoYFY 2025

→Free cash flow was $404M in 2025. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $538M.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

Where does each dollar of revenue actually go?

→Of $1.8B in 2025 sales, nothing survives to the bottom line - the journey ends $403M underwater.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

How much of every sales dollar ends up as free cash?

→22 cents of every sales dollar became free cash in 2025, up 30 points since 2022 - the best conversion in its filed history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is research and development, at 50% of revenue (stock compensation 21%, capital spending 1%). That share has fallen since 2022, so the cost of competing is easing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin widened 38 points to -26% since 2022. The bottom line is still negative: costs below the operating line eat what is left.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

What does it earn on the money it uses?

→ROE of -19% and ROCE of -9% sit close together, so the returns come from the business itself rather than from borrowing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

What has the market paid for U over time?

9.0xP/S today

→At 9.0x sales, the market is paying 30% less than U's own 6-year median of 12.9x. Pessimism is priced in - the question is whether it is deserved.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

What cash return does the business throw off per dollar of market value?

2.9%FCF yield today

→Every dollar of market value currently buys 2.9% of annual free cash flow, more than its 6-year median of 1.4% - the cash is cheaper than usual.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

Could it handle its debt if things went wrong?

→Debt isn't clearly tagged in U's filings, so treat the balance sheet with extra care rather than assuming zero.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

Is the company's own capital growing?

→The company's own capital shrank from $3.2B in 2023 to $3.0B (-5%). Buybacks or losses are drawing the buffer down - the distinction matters.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

How much goes back, and how much leaks out as stock comp?

→U returned no cash to shareholders in the latest filed year: everything is being retained or reinvested.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

How fast is your ownership being diluted - or concentrated?

→The share count grew 6.3% in 2025, averaging 11.0% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

Does U earn more on its capital than that capital costs?

→U's return on capital is negative at -9.0% in 2025. The capital in the business is not yet earning anything back.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

U has issued or retired shares - did shareholders end up better off?

→U issued +84% more shares from 2019 to 2025, but revenue per share still rose +86%. The dilution bought more growth than it cost existing holders.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Unity SoftwareU

Are the people running it buying or selling?

→Insiders sold $74M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 16 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30