UNYSEServices-Prepackaged SoftwareUS GAAP · USD

Unity Software Inc.

Unity Software Inc. provides software tools for creating, deploying, and operating real-time 3D interactive content across mobile, PC, console, and extended reality platforms. Its platform is organized around Create Solutions for development workflows and Grow Solutions for monetization, user acquisition, and app publishing.

Revenue1,850m USD
+2.0 %y/y
Operating profit (EBIT)-479m USD
+36.6 %y/y
EBIT margin-25.9%
+15.7 ppy/y
Net income-403m USD
+39.4 %y/y
Free cash flow404m USD
+41.2 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-1,00001,0002,0003,000m USD2020: 772 m USD2020: EBIT -275 m USD20202021: 1,111 m USD2021: EBIT -532 m USD20212022: 1,391 m USD2022: EBIT -882 m USD20222023: 2,187 m USD2023: EBIT -833 m USD20232024: 1,813 m USD2024: EBIT -755 m USD20242025: 1,850 m USD2025: EBIT -479 m USD20251,850-479
RevenueOperating profit (EBIT)

Business

Share of revenue
Create Solutions55 %

Development tools, subscriptions, support, and services used to build RT3D content and games.

Grow Solutions45 %

Advertising, mediation, publishing, and discovery tools used to monetize and scale apps and games.

Products

Reported · share of revenue
66.4%33.6%FY2025100 %
  • Grow Solutions66.4 %
  • Create Solutions33.6 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Unity sells to game studios, app developers, and other creators that build interactive 2D, 3D, and RT3D experiences. Its customer base also includes larger enterprises, mid-market companies, government and nonprofit institutions, and independent developers that use the platform to develop, distribute, or monetize content.

Game developers and studios

Buy Create Solutions to build, test, and deploy games across major platforms; they also use Grow tools to monetize player traffic.

Mobile app developers

Use mediation, ad network, offerwall, and Aura tools to acquire users and monetize apps.

Independent and small studios

Use Supersonic publishing and support services to launch games and improve commercial reach.

Enterprises and institutions

Use RT3D tools for interactive visualization, simulation, training, and other non-gaming applications.

Strategy

Unity’s strategy centers on its core Unity Engine and monetization platform, with emphasis on cross-platform deployment and a large creator ecosystem. The company is also investing in AI-enabled product capabilities and partnerships that expand reach, improve developer workflows, and strengthen monetization.

Concentrate on core Create and Grow offeringsMedium term

A narrower product focus can improve product coherence and strengthen the platform's core developer and monetization use cases.

Integrate AI into products and workflowsShort term

AI features can improve creator productivity, ad performance, and product differentiation in a fast-changing software market.

Expand ecosystem partnershipsMedium term

Third-party integrations help creators deploy content more seamlessly and increase the platform's reach and stickiness.

Geography

Q1/2026

Unity is a global software business with creators and customers across North America, Europe, and other international markets. The company notes that non-strategic portfolio revenue was generated mainly in North America and Europe, while its creator community and customer base are globally diverse.

Europe, Middle East and Africa55 %
United States45 %

Share of the revenue the company reports by geography.

Risks

Unity faces competition from game engines, ad-tech platforms, and large technology companies with greater scale and resources. Its results also depend on the health of the gaming and mobile app markets, rapid product innovation, and the ability to adapt to privacy, AI, and platform changes that can affect monetization and developer adoption.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Competition from game engines and ad-tech platforms1Privacy and data regulation2Dependence on gaming customer success3AI product and reputation risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Competition from game engines and ad-tech platformsImpact: HighLikelihood: High

    Customers can switch to in-house engines, free tools, or larger platforms with broader ecosystems.

    Exposure: Create Solutions and Grow Solutions

  2. Privacy and data regulationImpact: HighLikelihood: High

    Changes in data access and targeting rules can reduce advertiser effectiveness and monetization rates.

    Exposure: Grow Solutions

  3. Dependence on gaming customer successImpact: HighLikelihood: Medium

    If customers' games underperform, demand for development and monetization tools can weaken.

    Exposure: Gaming end market

  4. AI product and reputation riskImpact: MediumLikelihood: Medium

    AI features can create product, legal, or trust issues if not implemented effectively.

    Exposure: Platform and monetization products

Accounting

Judgemental items
Revenue recognition

Subscriptions, professional services, consumption services, and ad products may be recognized on different timing bases.

Impact: Affects revenue timing and comparability across quarters

Deferred tax assets and valuation allowance

The company has accumulated losses and tax attributes that require judgment on realizability.

Impact: Can materially change tax expense and net loss

Stock-based compensation

Employee equity awards are a recurring non-cash expense in a software business.

Impact: Affects operating expenses and GAAP profitability

Intangible assets and amortization

Acquired technology and other intangibles create ongoing amortization and potential impairment risk.

Impact: Affects operating income and asset values

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026