Unity Software (U) Financials

$25.50 -0.07 (-0.29%)

Closing price 05/22/2026 03:59 PM Eastern

Extended Trading

$25.48 -0.01 (-0.05%)

As of 05/22/2026 07:59 PM Eastern

Annual Income Statements for Unity Software

This table shows Unity Software's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-132	-163	-282	-533	-921	-822	-664	-403
Consolidated Net Income / (Loss)	-132	-163	-282	-533	-919	-826	-664	-401
Net Income / (Loss) Continuing Operations	-132	-163	-282	-533	-919	-826	-664	-401
Total Pre-Tax Income	-133	-153	-280	-531	-882	-798	-667	-395
Total Operating Income	-130	-151	-275	-532	-882	-833	-755	-479
Total Gross Profit	299	423	600	857	949	1,454	1,332	1,372
Total Revenue	381	542	772	1,111	1,391	2,187	1,813	1,850
Operating Revenue	381	542	772	1,111	1,391	2,187	1,813	1,850
Total Cost of Revenue	81	119	172	254	443	734	481	478
Operating Cost of Revenue	81	119	172	254	443	734	481	478
Total Operating Expenses	430	574	875	1,389	1,831	2,286	2,088	1,851
Selling, General & Admin Expense	91	144	255	348	373	398	410	269
Marketing Expense	134	174	216	345	498	835	753	653
Research & Development Expense	204	256	404	696	959	1,054	925	930
Total Other Income / (Expense), net	-2.33	-2.57	-5.41	0.44	-0.21	35	88	84
Interest Expense	0.00	0.00	1.52	1.13	7.40	25	24	24
Other Income / (Expense), net	-2.33	-2.57	-3.89	1.57	7.19	60	112	108
Income Tax Expense	-1.03	9.95	2.09	1.38	37	28	-2.85	6.30
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	-1.30	-4.31	-0.17	1.27
Basic Earnings per Share	($1.24)	($2.39)	($1.66)	($1.89)	($2.96)	($2.16)	($1.68)	($0.96)
Weighted Average Basic Shares Outstanding	105.99M	114.44M	169.97M	282.20M	310.50M	380.46M	395.95M	420.91M
Diluted Earnings per Share	($1.24)	($2.39)	($1.66)	($1.89)	($2.96)	($2.16)	($1.68)	($0.96)
Weighted Average Diluted Shares Outstanding	105.99M	114.44M	169.97M	282.20M	310.50M	380.46M	395.95M	420.91M
Weighted Average Basic & Diluted Shares Outstanding	105.99M	114.44M	169.97M	294.10M	374.76M	385.94M	409.66M	432.99M

This table shows Unity Software's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-124	-253	-291	-126	-125	-123	-78	-109	-126	-90	-348
Consolidated Net Income / (Loss)	-125	-254	-291	-126	-125	-123	-78	-107	-127	-89	-347
Net Income / (Loss) Continuing Operations	-125	-254	-291	-126	-125	-123	-78	-107	-127	-89	-347
Total Pre-Tax Income	-118	-244	-304	-125	-118	-120	-76	-105	-117	-97	-354
Total Operating Income	-127	-259	-375	-129	-127	-124	-128	-119	-126	-107	-351
Total Gross Profit	393	348	316	340	334	342	321	327	350	374	157
Total Revenue	544	609	460	449	447	457	435	441	471	503	508
Operating Revenue	544	609	460	449	447	457	435	441	471	503	508
Total Cost of Revenue	151	262	144	109	112	116	114	114	120	129	352
Operating Cost of Revenue	151	262	144	109	112	116	114	114	120	129	352
Total Operating Expenses	520	607	691	470	462	465	449	445	476	480	508
Selling, General & Admin Expense	86	126	178	91	70	71	66	69	66	67	58
Marketing Expense	194	215	231	170	176	176	162	162	166	164	195
Research & Development Expense	240	265	283	209	215	218	221	215	244	250	254
Total Other Income / (Expense), net	9.86	15	71	4.63	9.51	3.27	52	14	8.41	9.42	-2.56
Interest Expense	6.15	6.16	6.04	5.83	5.84	5.84	5.89	6.03	6.04	6.04	6.02
Other Income / (Expense), net	16	21	77	10	15	9.11	58	20	14	15	3.46
Income Tax Expense	7.77	9.71	-13	0.95	6.91	2.14	2.19	2.42	9.38	-7.69	-7.04
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.24	-1.24	-0.40	-0.16	0.19	0.20	-0.27	1.43	-0.47	0.57	0.68
Basic Earnings per Share	($0.32)	($0.66)	($0.75)	($0.32)	($0.31)	($0.30)	($0.19)	($0.26)	($0.30)	($0.21)	($0.80)
Weighted Average Basic Shares Outstanding	383.67M	380.46M	387.15M	392.54M	398.81M	395.95M	411.85M	417.57M	424.30M	420.91M	434.26M
Diluted Earnings per Share	($0.32)	($0.66)	($0.75)	($0.32)	($0.31)	($0.30)	($0.19)	($0.26)	($0.30)	($0.21)	($0.80)
Weighted Average Diluted Shares Outstanding	383.67M	380.46M	387.15M	392.54M	398.81M	395.95M	411.85M	417.57M	424.30M	420.91M	434.26M
Weighted Average Basic & Diluted Shares Outstanding	380.02M	385.94M	390.86M	396.86M	402.84M	409.66M	415.69M	422.52M	427.91M	432.99M	436.53M

This table details how cash moves in and out of Unity Software's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	27	-126	1,147	-227	439	99	-76	536
Net Cash From Operating Activities	-81	-68	20	-111	-59	235	316	423
Net Cash From Continuing Operating Activities	-81	-68	20	-111	-59	235	316	423
Net Income / (Loss) Continuing Operations	-132	-163	-282	-533	-919	-826	-664	-401
Consolidated Net Income / (Loss)	-132	-163	-282	-533	-919	-826	-664	-401
Depreciation Expense	21	31	43	65	212	564	409	461
Non-Cash Adjustments To Reconcile Net Income	21	44	198	347	550	649	558	348
Changes in Operating Assets and Liabilities, net	9.11	20	61	9.43	98	-152	13	15
Net Cash From Investing Activities	-40	-220	-575	-1,837	723	44	-42	-24
Net Cash From Continuing Investing Activities	-40	-220	-575	-1,837	723	44	-42	-24
Purchase of Property, Plant & Equipment	-38	-27	-40	-42	-57	-56	-30	-19
Acquisitions	-2.02	-193	-53	-1,580	122	0.00	-13	-3.00
Purchase of Investments	0.00	0.00	-483	-524	-166	-2.71	0.00	-2.00
Sale and/or Maturity of Investments	0.00	0.00	1.64	309	825	103	0.00	0.00
Net Cash From Financing Activities	148	161	1,701	1,721	-227	-174	-338	110
Net Cash From Continuing Financing Activities	148	161	1,701	1,721	-227	-174	-338	110
Repayment of Debt	0.00	-0.37	-125	-23	-0.38	0.00	-415	-655
Repurchase of Common Equity	0.00	-286	-0.11	0.00	-1,500	-250	0.00	0.00
Issuance of Debt	0.00	0.00	125	1,725	1,000	0.00	0.00	690
Issuance of Common Equity	0.00	460	1,518	67	63	76	77	119
Other Financing Activities, net	3.30	12	34	-48	210	0.00	0.00	-44
Effect of Exchange Rate Changes	-	-0.17	0.67	0.46	1.93	-6.15	-11	27
Cash Interest Paid	0.00	0.00	1.39	0.11	0.00	20	20	20
Cash Income Taxes Paid	3.35	1.19	20	5.65	25	22	26	11

This table details how cash moves in and out of Unity Software's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-134	83	-410	87	134	112	24	150	208	155	82
Net Cash From Operating Activities	120	72	-7.37	88	122	112	13	133	155	121	71
Net Cash From Continuing Operating Activities	120	72	-7.37	88	122	112	13	133	155	121	71
Net Income / (Loss) Continuing Operations	-125	-254	-291	-126	-125	-123	-78	-107	-127	-89	-347
Consolidated Net Income / (Loss)	-125	-254	-291	-126	-125	-123	-78	-107	-127	-89	-347
Depreciation Expense	111	232	102	101	103	103	96	97	136	132	127
Non-Cash Adjustments To Reconcile Net Income	147	181	218	137	106	110	60	102	93	94	371
Changes in Operating Assets and Liabilities, net	-13	-87	-36	-25	39	21	-65	41	54	-15	-80
Net Cash From Investing Activities	-18	-11	-7.19	-9.13	-20	-6.44	-5.72	-8.45	-4.11	-5.75	-4.83
Net Cash From Continuing Investing Activities	-18	-11	-7.19	-9.13	-20	-6.44	-5.72	-8.45	-4.11	-5.75	-4.83
Purchase of Property, Plant & Equipment	-16	-11	-7.19	-8.77	-7.15	-6.44	-5.72	-6.45	-4.11	-2.75	-4.83
Net Cash From Financing Activities	-227	11	-389	11	20	19	12	9.78	54	34	12
Net Cash From Continuing Financing Activities	-227	11	-389	11	20	19	12	9.78	54	34	12
Repayment of Debt	-	-	-415	-	-	-	-655	-	-	-	0.00
Issuance of Debt	-	-	0.00	-	-	-	690	-	-	-	0.00
Issuance of Common Equity	23	11	26	11	20	19	22	9.78	54	34	12
Other Financing Activities, net	-	-	0.00	-	-	-	-44	-	-	-	0.00
Effect of Exchange Rate Changes	-8.87	12	-6.20	-3.26	11	-13	4.20	15	2.21	5.55	3.69
Cash Income Taxes Paid	10	6.60	11	5.27	3.03	7.02	-1.74	-1.34	9.95	3.72	6.31

This table presents Unity Software's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	763	2,671	4,841	7,834	7,243	6,737	6,838
Total Current Assets	367	2,081	2,151	2,365	2,325	2,225	2,812
Cash & Equivalents	130	1,273	1,056	1,485	1,590	1,518	2,056
Accounts Receivable	205	274	340	634	612	574	644
Prepaid Expenses	23	32	74	144	123	134	113
Plant, Property, & Equipment, net	79	96	106	122	141	99	68
Total Noncurrent Assets	316	495	2,584	5,347	4,778	4,413	3,957
Goodwill	218	286	1,620	3,201	3,166	3,166	3,166
Intangible Assets	62	57	814	1,922	1,407	1,066	651
Other Noncurrent Operating Assets	36	151	150	224	205	181	140
Total Liabilities & Shareholders' Equity	763	2,671	4,841	7,834	7,243	6,737	6,838
Total Liabilities	369	634	2,447	4,080	3,829	3,310	3,341
Total Current Liabilities	337	503	626	1,010	894	889	1,526
Short-Term Debt	-	-	-	-	-	0.00	556
Accounts Payable	11	11	14	20	15	14	14
Accrued Expenses	66	106	234	326	308	295	300
Current Deferred Revenue	86	114	141	218	187	186	224
Other Current Liabilities	138	208	238	446	385	394	431
Total Noncurrent Liabilities	32	131	1,821	3,070	2,935	2,421	1,816
Long-Term Debt	-	-	1,703	2,707	2,712	2,239	1,679
Noncurrent Deferred Revenue	11	21	16	103	6.02	17	14
Other Noncurrent Operating Liabilities	22	110	102	259	217	165	123
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	0.00	220	226	231	253
Total Equity & Noncontrolling Interests	394	2,037	2,394	3,535	3,189	3,197	3,244
Total Preferred & Common Equity	394	2,037	2,394	3,528	3,183	3,191	3,237
Total Common Equity	-293	2,037	2,394	3,528	3,183	3,191	3,237
Common Stock	226	2,838	3,730	5,780	6,259	6,936	7,378
Retained Earnings	-515	-797	-1,332	-2,250	-3,072	-3,736	-4,139
Accumulated Other Comprehensive Income / (Loss)	-3.63	-3.42	-3.86	-1.69	-5.01	-9.43	-2.16
Noncontrolling Interest	-	-	0.00	6.30	5.94	5.85	6.07

This table presents Unity Software's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	4,727	7,735	7,687	7,426	6,753	6,684	6,726	6,646	6,716	6,783	6,522
Total Current Assets	2,084	2,343	2,394	2,233	1,941	1,984	2,116	2,239	2,408	2,623	2,923
Cash & Equivalents	1,239	1,594	1,641	1,507	1,180	1,268	1,405	1,541	1,691	1,899	2,141
Accounts Receivable	316	613	632	605	621	573	576	553	597	600	654
Prepaid Expenses	82	137	121	121	140	143	135	145	120	124	128
Plant, Property, & Equipment, net	112	129	135	141	123	112	108	90	82	77	54
Total Noncurrent Assets	2,530	5,262	5,157	5,052	4,689	4,588	4,501	4,317	4,226	4,084	3,544
Goodwill	1,658	3,201	3,201	3,202	3,166	3,166	3,166	3,166	3,166	3,166	3,166
Intangible Assets	725	1,824	1,725	1,626	1,319	1,231	1,155	981	894	769	263
Other Noncurrent Operating Assets	148	237	231	224	204	191	180	170	166	149	115
Total Liabilities & Shareholders' Equity	4,727	7,735	7,687	7,426	6,753	6,684	6,726	6,646	6,716	6,783	6,522
Total Liabilities	2,524	4,043	4,019	3,960	3,339	3,267	3,299	3,219	3,282	3,329	3,281
Total Current Liabilities	612	980	975	950	902	842	877	818	883	942	1,501
Short-Term Debt	-	-	-	-	-	-	-	-	-	-	557
Accounts Payable	14	28	19	22	19	13	15	17	12	20	8.65
Accrued Expenses	222	321	296	305	302	264	289	273	279	299	313
Current Deferred Revenue	203	213	215	215	170	176	190	188	219	226	230
Other Current Liabilities	173	418	446	408	411	388	383	339	373	397	393
Total Noncurrent Liabilities	1,913	3,063	3,044	3,010	2,436	2,426	2,422	2,402	2,399	2,386	1,779
Long-Term Debt	1,706	2,708	2,709	2,711	2,236	2,237	2,238	2,232	2,233	2,234	1,680
Noncurrent Deferred Revenue	118	90	79	65	9.08	10	17	15	15	17	17
Other Noncurrent Operating Liabilities	88	264	256	234	191	178	167	155	150	135	83
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	225	216	217	225	226	237	235	241	245	259
Total Equity & Noncontrolling Interests	2,203	3,466	3,452	3,248	3,190	3,191	3,190	3,192	3,193	3,209	2,982
Total Preferred & Common Equity	2,203	3,460	3,446	3,242	3,184	3,185	3,184	3,186	3,187	3,203	2,976
Total Common Equity	2,203	3,460	3,446	3,242	3,184	3,185	3,184	3,186	3,187	3,203	2,976
Common Stock	4,180	5,962	6,150	6,071	6,555	6,682	6,800	7,008	7,116	7,258	7,462
Retained Earnings	-1,963	-2,503	-2,695	-2,819	-3,363	-3,488	-3,613	-3,814	-3,922	-4,049	-4,486
Accumulated Other Comprehensive Income / (Loss)	-14	0.49	-8.54	-9.65	-7.76	-8.90	-2.99	-8.50	-6.35	-5.28	0.26
Noncontrolling Interest	-	6.30	6.05	5.94	5.86	5.83	5.95	5.85	5.99	5.97	6.16

This table displays calculated financial ratios and metrics derived from Unity Software's official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	42.29%	42.58%	43.77%	25.26%	57.25%	-17.10%	2.01%
EBITDA Growth	0.00%	-8.94%	-93.01%	-97.49%	-42.51%	68.45%	-12.07%	138.26%
EBIT Growth	0.00%	-15.54%	-81.87%	-90.21%	-65.07%	11.63%	16.77%	42.33%
NOPAT Growth	0.00%	-15.63%	-82.39%	-93.47%	-65.93%	5.60%	9.32%	36.56%
Net Income Growth	0.00%	-24.00%	-72.99%	-88.66%	-72.64%	10.13%	19.61%	39.56%
EPS Growth	0.00%	-92.74%	30.54%	-13.86%	-56.61%	27.03%	22.22%	42.86%
Operating Cash Flow Growth	0.00%	16.19%	129.31%	-659.68%	46.67%	494.91%	34.45%	34.04%
Free Cash Flow Firm Growth	0.00%	0.00%	42.19%	-1,045.89%	-27.96%	92.20%	42.19%	197.32%
Invested Capital Growth	0.00%	0.00%	8.03%	727.72%	106.52%	-6.95%	-8.54%	-11.40%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	9.41%	10.76%	7.80%	-7.74%	2.55%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-11.30%	-10.53%	45.79%	-2.41%	139.30%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-12.99%	-16.17%	3.56%	16.11%	5.95%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-13.68%	-17.12%	1.75%	15.20%	3.46%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-17.20%	-15.89%	3.93%	16.52%	7.62%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-18.13%	-10.04%	7.30%	17.65%	8.57%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	229.69%	-94.93%	-19.15%	106.72%	14.55%	2.23%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-51.76%	91.96%	33.98%	12.96%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	243.72%	119.28%	-2.85%	-2.61%	-3.03%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	78.66%	78.11%	77.69%	77.16%	68.19%	66.46%	73.48%	74.17%
EBITDA Margin	-29.44%	-22.54%	-30.52%	-41.92%	-47.69%	-9.57%	-12.94%	4.85%
Operating Margin	-34.22%	-27.81%	-35.58%	-47.88%	-63.42%	-38.07%	-41.65%	-25.90%
EBIT Margin	-34.83%	-28.29%	-36.08%	-47.73%	-62.90%	-35.35%	-35.49%	-20.07%
Profit (Net Income) Margin	-34.56%	-30.12%	-36.55%	-47.96%	-66.10%	-37.78%	-36.64%	-21.71%
Tax Burden Percent	99.23%	106.49%	100.75%	100.26%	104.20%	103.57%	99.57%	101.59%
Interest Burden Percent	100.00%	100.00%	100.55%	100.21%	100.85%	103.18%	103.66%	106.47%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-79.91%	-70.07%	-28.14%	-17.07%	-12.39%	-12.17%	-8.57%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	8.92%	-60.51%	-10.17%	-72.66%	-34.10%	-26.90%	-23.26%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-2.94%	46.84%	4.10%	-12.84%	-10.66%	-7.25%	-3.03%
Return on Equity (ROE)	0.00%	-82.86%	-23.23%	-24.04%	-29.91%	-23.05%	-19.42%	-11.60%
Cash Return on Invested Capital (CROIC)	0.00%	-279.91%	-77.79%	-185.02%	-86.57%	-5.19%	-3.25%	3.51%
Operating Return on Assets (OROA)	0.00%	-20.09%	-16.23%	-14.11%	-13.81%	-10.26%	-9.21%	-5.47%
Return on Assets (ROA)	0.00%	-21.39%	-16.44%	-14.18%	-14.51%	-10.96%	-9.50%	-5.92%
Return on Common Equity (ROCE)	0.00%	61.56%	-16.67%	-24.04%	-28.81%	-21.58%	-18.09%	-10.77%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-41.43%	-13.86%	-22.24%	-26.06%	-25.96%	-20.82%	0.00%
Net Operating Profit after Tax (NOPAT)	-91	-105	-192	-372	-618	-583	-529	-335
NOPAT Margin	-23.96%	-19.47%	-24.90%	-33.51%	-44.40%	-26.65%	-29.15%	-18.13%
Net Nonoperating Expense Percent (NNEP)	0.00%	-88.83%	-9.56%	-17.97%	55.59%	21.71%	14.73%	14.69%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-9.89%	-9.88%	-9.73%	-6.12%
Cost of Revenue to Revenue	21.34%	21.89%	22.31%	22.84%	31.81%	33.54%	26.52%	25.83%
SG&A Expenses to Revenue	23.97%	26.54%	33.01%	31.33%	26.84%	18.20%	22.62%	14.52%
R&D to Revenue	53.60%	47.24%	52.24%	62.65%	68.98%	48.17%	51.00%	50.25%
Operating Expenses to Revenue	112.88%	105.92%	113.27%	125.04%	131.61%	104.53%	115.13%	100.07%
Earnings before Interest and Taxes (EBIT)	-133	-153	-279	-530	-875	-773	-644	-371
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-112	-122	-236	-466	-663	-209	-235	90
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	20.40	17.08	2.44	4.88	2.84	5.84
Price to Tangible Book Value (P/TBV)	0.00	0.00	24.54	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.41	2.40	53.80	36.83	6.18	7.10	4.99	10.22
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	7.03	139.59	17.31	2.04	3.72	2.41	5.26
Enterprise Value to Revenue (EV/Rev)	0.00	3.43	51.53	36.80	7.15	7.72	5.52	10.46
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	215.47
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	1,998.90	0.00	0.00	71.97	31.72	45.72
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	140.74
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.71	0.72	0.79	0.65	0.64
Long-Term Debt to Equity	0.00	0.00	0.00	0.71	0.72	0.79	0.65	0.48
Financial Leverage	0.00	-0.33	-0.77	-0.40	0.18	0.31	0.27	0.13
Leverage Ratio	0.00	1.94	1.41	1.70	2.06	2.10	2.04	1.96
Compound Leverage Factor	0.00	1.94	1.42	1.70	2.08	2.17	2.12	2.09
Debt to Total Capital	0.00%	0.00%	0.00%	41.56%	41.90%	44.27%	39.51%	39.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.71%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	41.56%	41.90%	44.27%	39.51%	29.29%
Preferred Equity to Total Capital	0.00%	174.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	3.50%	3.78%	4.17%	4.51%
Common Equity to Total Capital	0.00%	-74.29%	100.00%	58.44%	54.61%	51.95%	56.31%	56.49%
Debt to EBITDA	0.00	0.00	0.00	-3.66	-4.08	-12.95	-9.54	24.91
Net Debt to EBITDA	0.00	0.00	0.00	0.07	-1.69	-5.36	-3.07	2.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	-3.66	-4.08	-12.95	-9.54	18.71
Debt to NOPAT	0.00	0.00	0.00	-4.58	-4.38	-4.65	-4.24	-6.67
Net Debt to NOPAT	0.00	0.00	0.00	0.09	-1.81	-1.92	-1.36	-0.54
Long-Term Debt to NOPAT	0.00	0.00	0.00	-4.58	-4.38	-4.65	-4.24	-5.01
Altman Z-Score	0.00	1.26	39.56	9.89	0.88	2.03	1.06	2.86
Noncontrolling Interest Sharing Ratio	0.00%	174.29%	28.24%	0.00%	3.67%	6.38%	6.84%	7.15%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.09	4.13	3.44	2.34	2.60	2.50	1.84
Quick Ratio	0.00	1.00	4.03	3.32	2.20	2.46	2.35	1.77
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-369	-214	-2,447	-3,132	-244	-141	137
Operating Cash Flow to CapEx	-213.21%	-251.29%	49.59%	-265.75%	-104.01%	419.70%	1,067.90%	2,223.27%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-140.51	-2,163.87	-422.98	-9.94	-6.00	5.72
Operating Cash Flow to Interest Expense	0.00	0.00	13.10	-98.54	-8.03	9.55	13.40	17.62
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-13.32	-135.62	-15.74	7.27	12.15	16.83
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.71	0.45	0.30	0.22	0.29	0.26	0.27
Accounts Receivable Turnover	0.00	2.64	3.22	3.61	2.86	3.51	3.06	3.04
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	6.86	8.85	11.01	12.20	16.65	15.13	22.14
Accounts Payable Turnover	0.00	11.08	15.66	20.04	25.85	42.24	33.79	34.21
Days Sales Outstanding (DSO)	0.00	138.04	113.21	101.03	127.82	103.92	119.33	120.13
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	32.95	23.31	18.21	14.12	8.64	10.80	10.67
Cash Conversion Cycle (CCC)	0.00	105.09	89.90	82.81	113.70	95.28	108.53	109.46
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	0.00	264	285	2,360	4,875	4,536	4,148	3,676
Invested Capital Turnover	0.00	4.11	2.81	0.84	0.38	0.46	0.42	0.47
Increase / (Decrease) in Invested Capital	0.00	264	21	2,075	2,514	-339	-387	-473
Enterprise Value (EV)	0.00	1,857	39,804	40,863	9,945	16,892	10,010	19,339
Market Capitalization	1,300	1,300	41,556	40,897	8,598	15,539	9,052	18,901
Book Value per Share	$0.00	($2.56)	$7.52	$8.37	$11.73	$8.38	$7.92	$7.57
Tangible Book Value per Share	$0.00	($5.01)	$6.25	($0.14)	($5.30)	($3.66)	($2.59)	($1.35)
Total Capital	0.00	394	2,037	4,097	6,461	6,126	5,666	5,731
Total Debt	0.00	0.00	0.00	1,703	2,707	2,712	2,239	2,235
Total Long-Term Debt	0.00	0.00	0.00	1,703	2,707	2,712	2,239	1,679
Net Debt	0.00	-130	-1,752	-34	1,120	1,121	721	180
Capital Expenditures (CapEx)	38	27	40	42	57	56	30	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-99	-175	-212	-232	-160	-182	-213
Debt-free Net Working Capital (DFNWC)	0.00	31	1,577	1,525	1,354	1,431	1,336	1,843
Net Working Capital (NWC)	0.00	31	1,577	1,525	1,354	1,431	1,336	1,287
Net Nonoperating Expense (NNE)	40	58	90	160	302	243	136	66
Net Nonoperating Obligations (NNO)	0.00	-130	-1,752	-34	1,120	1,121	721	180
Total Depreciation and Amortization (D&A)	21	31	43	65	212	564	409	461
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-18.29%	-22.60%	-19.10%	-16.71%	-7.29%	-10.03%	-11.50%
Debt-free Net Working Capital to Revenue	0.00%	5.70%	204.21%	137.32%	97.36%	65.41%	73.67%	99.64%
Net Working Capital to Revenue	0.00%	5.70%	204.21%	137.32%	97.36%	65.41%	73.67%	69.56%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($1.66)	($1.89)	($2.96)	($2.16)	($1.68)	($0.96)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	277.90M	282.20M	310.50M	380.46M	395.95M	420.91M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($1.66)	($1.89)	($2.96)	($2.16)	($1.68)	($0.96)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	277.90M	282.20M	310.50M	380.46M	395.95M	420.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($1.66)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	169.97M	294.10M	374.76M	385.94M	409.66M	432.99M
Normalized Net Operating Profit after Tax (NOPAT)	-91	-105	-192	-372	-618	-583	-529	-335
Normalized NOPAT Margin	-23.96%	-19.47%	-24.90%	-33.51%	-44.40%	-26.65%	-29.15%	-18.13%
Pre Tax Income Margin	-34.83%	-28.29%	-36.28%	-47.84%	-63.44%	-36.48%	-36.79%	-21.37%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-183.35	-468.70	-118.18	-31.46	-27.34	-15.46
NOPAT to Interest Expense	0.00	0.00	-126.56	-329.06	-83.41	-23.72	-22.45	-13.97
EBIT Less CapEx to Interest Expense	0.00	0.00	-209.77	-505.78	-125.90	-33.73	-28.59	-16.25
NOPAT Less CapEx to Interest Expense	0.00	0.00	-152.98	-366.14	-91.12	-25.99	-23.71	-14.76
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-175.49%	-0.04%	0.00%	-163.13%	-30.25%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Unity Software's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	432,987,611.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	432,987,611.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.80
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	68.55%	35.10%	-7.99%	-15.79%	-17.95%	-24.98%	-5.51%	-1.85%	5.40%	10.06%	16.84%
EBITDA Growth	99.81%	96.79%	-49.06%	75.38%	-2,440.33%	-94.08%	113.43%	88.68%	366.26%	458.91%	-936.18%
EBIT Growth	53.08%	10.70%	-23.58%	34.78%	-0.37%	51.90%	76.59%	16.85%	0.35%	20.52%	-398.32%
NOPAT Growth	46.83%	5.41%	-47.04%	32.40%	0.20%	52.25%	65.88%	8.24%	1.01%	13.86%	-174.68%
Net Income Growth	49.88%	11.74%	-14.89%	34.96%	0.61%	51.76%	73.27%	14.61%	-1.83%	27.04%	-345.31%
EPS Growth	61.90%	20.48%	-11.94%	37.25%	3.13%	54.55%	74.67%	18.75%	3.23%	30.00%	-321.05%
Operating Cash Flow Growth	274.50%	246.97%	-44.60%	85.50%	1.92%	55.60%	276.67%	50.60%	27.00%	8.24%	447.26%
Free Cash Flow Firm Growth	-48.77%	105.82%	102.66%	109.86%	112.64%	91.10%	264.66%	25.59%	18.87%	32.36%	102.64%
Invested Capital Growth	110.02%	-6.95%	-6.97%	-7.40%	-8.77%	-8.54%	-7.91%	-9.34%	-11.01%	-11.40%	-18.97%
Revenue Q/Q Growth	2.01%	11.95%	-24.44%	-2.42%	-0.61%	2.37%	-4.83%	1.37%	6.73%	6.90%	1.02%
EBITDA Q/Q Growth	99.49%	-1,520.44%	-3,249.40%	91.07%	47.61%	-23.80%	331.82%	-107.53%	1,332.26%	66.89%	-640.10%
EBIT Q/Q Growth	38.93%	-113.78%	-25.27%	60.12%	6.02%	-2.46%	39.04%	-41.66%	-12.63%	18.28%	-282.18%
NOPAT Q/Q Growth	33.46%	-103.27%	-44.78%	65.48%	1.76%	2.75%	-3.46%	7.18%	-5.98%	15.37%	-229.93%
Net Income Q/Q Growth	35.18%	-102.69%	-14.76%	56.86%	0.95%	1.63%	36.41%	-37.81%	-18.13%	29.52%	-288.09%
EPS Q/Q Growth	37.25%	-106.25%	-13.64%	57.33%	3.13%	3.23%	36.67%	-36.84%	-15.38%	30.00%	-280.95%
Operating Cash Flow Q/Q Growth	151.98%	-39.94%	-110.23%	1,298.64%	38.45%	-8.31%	-88.39%	921.77%	16.76%	-21.86%	-41.30%
Free Cash Flow Firm Q/Q Growth	3.87%	106.21%	-54.01%	259.03%	23.28%	-6.11%	-12.24%	23.65%	16.68%	4.54%	34.35%
Invested Capital Q/Q Growth	-1.43%	-2.85%	-1.42%	-1.91%	-2.88%	-2.61%	-0.74%	-3.43%	-4.68%	-3.03%	-9.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.19%	57.07%	68.64%	75.77%	74.90%	74.72%	73.80%	74.10%	74.43%	74.31%	30.81%
EBITDA Margin	-0.07%	-0.96%	-42.68%	-3.91%	-2.06%	-2.49%	6.07%	-0.45%	5.20%	8.12%	-43.42%
Operating Margin	-23.41%	-42.50%	-81.44%	-28.81%	-28.48%	-27.05%	-29.41%	-26.93%	-26.74%	-21.17%	-69.14%
EBIT Margin	-20.47%	-39.08%	-64.79%	-26.48%	-25.04%	-25.06%	-16.05%	-22.43%	-23.67%	-18.10%	-68.46%
Profit (Net Income) Margin	-23.03%	-41.69%	-63.31%	-27.99%	-27.89%	-26.80%	-17.91%	-24.35%	-26.95%	-17.77%	-68.26%
Tax Burden Percent	106.61%	103.98%	95.78%	100.76%	105.88%	101.78%	102.90%	102.31%	107.98%	92.08%	98.01%
Interest Burden Percent	105.53%	102.58%	102.02%	104.90%	105.22%	105.10%	108.44%	106.10%	105.42%	106.64%	101.73%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-9.65%	-13.83%	-26.39%	-9.12%	-8.78%	-7.91%	-8.57%	-8.02%	-8.39%	-7.01%	-24.97%
ROIC Less NNEP Spread (ROIC-NNEP)	-15.55%	-20.32%	-29.06%	-12.57%	-12.27%	-11.81%	-7.24%	-11.23%	-15.02%	-10.30%	-50.64%
Return on Net Nonoperating Assets (RNNOA)	-3.36%	-6.35%	-8.88%	-3.62%	-3.62%	-3.18%	-1.85%	-2.48%	-2.55%	-1.34%	-5.97%
Return on Equity (ROE)	-13.01%	-20.19%	-35.27%	-12.74%	-12.40%	-11.09%	-10.42%	-10.50%	-10.94%	-8.35%	-30.94%
Cash Return on Invested Capital (CROIC)	-88.20%	-5.19%	-7.16%	-5.98%	-4.79%	-3.25%	-0.05%	1.47%	3.02%	3.51%	7.76%
Operating Return on Assets (OROA)	-6.83%	-11.34%	-19.21%	-7.60%	-6.95%	-6.50%	-4.28%	-5.96%	-6.32%	-4.93%	-20.00%
Return on Assets (ROA)	-7.69%	-12.10%	-18.77%	-8.04%	-7.75%	-6.95%	-4.78%	-6.47%	-7.20%	-4.84%	-19.94%
Return on Common Equity (ROCE)	-12.50%	-18.90%	-32.97%	-11.92%	-11.56%	-10.33%	-9.70%	-9.77%	-10.15%	-7.75%	-28.60%
Return on Equity Simple (ROE_SIMPLE)	-26.53%	0.00%	-27.14%	-25.01%	-24.99%	0.00%	-14.15%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-89	-181	-262	-91	-89	-87	-90	-83	-88	-75	-246
NOPAT Margin	-16.39%	-29.75%	-57.01%	-20.17%	-19.93%	-18.94%	-20.59%	-18.85%	-18.72%	-14.82%	-48.40%
Net Nonoperating Expense Percent (NNEP)	5.91%	6.49%	2.67%	3.45%	3.49%	3.90%	-1.33%	3.21%	6.63%	3.29%	25.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.07%	-	-	-	-1.59%	-1.65%	-1.53%	-1.62%	-1.36%	-4.71%
Cost of Revenue to Revenue	27.81%	42.93%	31.36%	24.23%	25.10%	25.28%	26.20%	25.90%	25.57%	25.69%	69.19%
SG&A Expenses to Revenue	15.85%	20.70%	38.57%	20.26%	15.67%	15.64%	15.25%	15.69%	14.01%	13.34%	11.45%
R&D to Revenue	44.10%	43.52%	61.41%	46.51%	48.19%	47.69%	50.72%	48.72%	51.92%	49.64%	50.06%
Operating Expenses to Revenue	95.60%	99.57%	150.08%	104.57%	103.38%	101.78%	103.21%	101.03%	101.17%	95.48%	99.96%
Earnings before Interest and Taxes (EBIT)	-111	-238	-298	-119	-112	-115	-70	-99	-111	-91	-348
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.36	-5.87	-196	-18	-9.20	-11	26	-1.99	24	41	-221
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.71	4.88	3.24	2.00	2.82	2.84	2.52	3.16	5.28	5.84	3.19
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.93	7.10	4.80	3.08	4.57	4.99	4.49	5.65	9.38	10.22	4.94
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.88	3.72	2.59	1.72	2.36	2.41	2.18	2.73	4.62	5.26	2.96
Enterprise Value to Revenue (EV/Rev)	6.64	7.72	5.40	3.66	5.11	5.52	5.01	6.10	9.71	10.46	5.13
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2,836.26	466.71	215.47	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	118.58	71.97	49.87	27.66	36.49	31.72	26.66	28.50	42.31	45.72	20.49
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	176.87	143.89	140.74	34.10
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.78	0.79	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.64	0.69
Long-Term Debt to Equity	0.78	0.79	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.48	0.52
Financial Leverage	0.22	0.31	0.31	0.29	0.30	0.27	0.26	0.22	0.17	0.13	0.12
Leverage Ratio	2.14	2.10	2.04	2.03	2.05	2.04	1.96	1.96	1.96	1.96	1.97
Compound Leverage Factor	2.26	2.16	2.08	2.13	2.16	2.15	2.12	2.08	2.07	2.09	2.01
Debt to Total Capital	43.89%	44.27%	39.57%	39.57%	39.51%	39.51%	39.45%	39.41%	39.27%	39.00%	40.83%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.71%	10.17%
Long-Term Debt to Total Capital	43.89%	44.27%	39.57%	39.57%	39.51%	39.51%	39.45%	39.41%	39.27%	29.29%	30.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.61%	3.78%	4.08%	4.10%	4.29%	4.17%	4.25%	4.35%	4.41%	4.51%	4.84%
Common Equity to Total Capital	52.50%	51.95%	56.34%	56.33%	56.20%	56.31%	56.30%	56.24%	56.31%	56.49%	54.33%
Debt to EBITDA	-7.02	-12.95	-8.16	-10.16	-9.77	-9.54	-190.10	583.86	59.57	24.91	-14.21
Net Debt to EBITDA	-3.12	-5.36	-3.86	-4.40	-3.64	-3.07	-58.85	141.75	8.95	2.00	-0.61
Long-Term Debt to EBITDA	-7.02	-12.95	-8.16	-10.16	-9.77	-9.54	-190.10	583.86	59.57	18.71	-10.68
Debt to NOPAT	-4.57	-4.65	-3.35	-3.59	-3.59	-4.24	-6.28	-6.41	-6.43	-6.67	-4.55
Net Debt to NOPAT	-2.03	-1.92	-1.58	-1.55	-1.34	-1.36	-1.94	-1.56	-0.97	-0.54	-0.19
Long-Term Debt to NOPAT	-4.57	-4.65	-3.35	-3.59	-3.59	-4.24	-6.28	-6.41	-6.43	-5.01	-3.42
Altman Z-Score	1.72	2.27	1.51	0.89	1.34	1.32	1.18	1.51	2.72	3.00	1.15
Noncontrolling Interest Sharing Ratio	3.93%	6.38%	6.51%	6.40%	6.76%	6.84%	6.89%	6.99%	7.18%	7.15%	7.59%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.35	2.60	2.15	2.36	2.41	2.50	2.74	2.73	2.78	1.84	1.95
Quick Ratio	2.22	2.46	2.00	2.19	2.26	2.35	2.56	2.59	2.65	1.77	1.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,535	157	72	260	320	301	264	326	381	398	535
Operating Cash Flow to CapEx	746.04%	634.65%	-102.55%	1,008.17%	1,711.06%	1,741.57%	227.81%	2,064.78%	3,783.74%	4,411.01%	1,476.21%
Free Cash Flow to Firm to Interest Expense	-411.93	25.58	12.00	44.59	54.88	51.52	44.82	54.14	63.03	65.89	88.87
Operating Cash Flow to Interest Expense	19.51	11.71	-1.22	15.16	20.96	19.21	2.21	22.07	25.72	20.10	11.84
Operating Cash Flow Less CapEx to Interest Expense	16.89	9.87	-2.41	13.66	19.73	18.11	1.24	21.00	25.04	19.64	11.04
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.33	0.29	0.30	0.29	0.28	0.26	0.27	0.27	0.27	0.27	0.29
Accounts Receivable Turnover	4.41	3.51	3.48	3.42	3.33	3.06	3.05	3.04	3.07	3.04	3.19
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	16.02	16.65	17.05	16.67	15.79	15.13	16.81	18.30	19.53	22.14	26.65
Accounts Payable Turnover	33.68	42.24	30.42	42.61	33.56	33.79	25.45	36.55	26.37	34.21	56.81
Days Sales Outstanding (DSO)	82.85	103.92	104.87	106.61	109.68	119.33	119.85	119.97	119.05	120.13	114.55
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	10.84	8.64	12.00	8.57	10.88	10.80	14.34	9.99	13.84	10.67	6.42
Cash Conversion Cycle (CCC)	72.01	95.28	92.87	98.05	98.80	108.53	105.51	109.98	105.20	109.46	108.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,669	4,536	4,471	4,386	4,259	4,148	4,118	3,976	3,790	3,676	3,337
Invested Capital Turnover	0.59	0.46	0.46	0.45	0.44	0.42	0.42	0.43	0.45	0.47	0.52
Increase / (Decrease) in Invested Capital	2,446	-339	-335	-351	-409	-387	-354	-410	-469	-473	-781
Enterprise Value (EV)	13,463	16,892	11,592	7,557	10,053	10,010	8,957	10,849	17,504	19,339	9,861
Market Capitalization	12,037	15,539	10,305	6,355	8,977	9,052	8,025	10,060	16,918	18,901	9,500
Book Value per Share	$8.46	$8.38	$8.25	$8.15	$8.02	$7.92	$7.78	$7.67	$7.58	$7.57	$6.87
Tangible Book Value per Share	($4.14)	($3.66)	($3.37)	($3.10)	($2.87)	($2.59)	($2.35)	($2.10)	($1.73)	($1.35)	($1.05)
Total Capital	6,176	6,126	5,651	5,654	5,665	5,666	5,659	5,667	5,689	5,731	5,477
Total Debt	2,711	2,712	2,236	2,237	2,238	2,239	2,232	2,233	2,234	2,235	2,236
Total Long-Term Debt	2,711	2,712	2,236	2,237	2,238	2,239	2,232	2,233	2,234	1,679	1,680
Net Debt	1,203	1,121	1,056	969	833	721	691	542	336	180	96
Capital Expenditures (CapEx)	16	11	7.19	8.77	7.15	6.44	5.72	6.45	4.11	2.75	4.83
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-225	-160	-141	-125	-166	-182	-120	-167	-218	-213	-162
Debt-free Net Working Capital (DFNWC)	1,282	1,431	1,039	1,143	1,239	1,336	1,421	1,525	1,680	1,843	1,979
Net Working Capital (NWC)	1,282	1,431	1,039	1,143	1,239	1,336	1,421	1,525	1,680	1,287	1,422
Net Nonoperating Expense (NNE)	36	73	29	35	36	36	-12	24	39	15	101
Net Nonoperating Obligations (NNO)	1,203	1,121	1,056	969	833	721	691	542	336	180	96
Total Depreciation and Amortization (D&A)	111	232	102	101	103	103	96	97	136	132	127
Debt-free, Cash-free Net Working Capital to Revenue	-11.08%	-7.29%	-6.56%	-6.08%	-8.44%	-10.03%	-6.72%	-9.36%	-12.10%	-11.50%	-8.42%
Debt-free Net Working Capital to Revenue	63.20%	65.41%	48.39%	55.38%	63.06%	73.67%	79.48%	85.67%	93.16%	99.64%	102.92%
Net Working Capital to Revenue	63.20%	65.41%	48.39%	55.38%	63.06%	73.67%	79.48%	85.67%	93.16%	69.56%	73.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.32)	($0.66)	($0.75)	($0.32)	($0.31)	($0.30)	($0.19)	($0.26)	($0.30)	($0.21)	($0.80)
Adjusted Weighted Average Basic Shares Outstanding	383.67M	380.46M	387.15M	392.54M	398.81M	395.95M	411.85M	417.57M	424.30M	420.91M	434.26M
Adjusted Diluted Earnings per Share	($0.32)	($0.66)	($0.75)	($0.32)	($0.31)	($0.30)	($0.19)	($0.26)	($0.30)	($0.21)	($0.80)
Adjusted Weighted Average Diluted Shares Outstanding	383.67M	380.46M	387.15M	392.54M	398.81M	395.95M	411.85M	417.57M	424.30M	420.91M	434.26M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	380.02M	385.94M	390.86M	396.86M	402.84M	409.66M	415.69M	422.52M	427.91M	432.99M	436.53M
Normalized Net Operating Profit after Tax (NOPAT)	-89	-181	-262	-91	-89	-87	-90	-83	-88	-75	-246
Normalized NOPAT Margin	-16.39%	-29.75%	-57.01%	-20.17%	-19.93%	-18.94%	-20.59%	-18.85%	-18.72%	-14.82%	-48.40%
Pre Tax Income Margin	-21.60%	-40.09%	-66.10%	-27.78%	-26.35%	-26.34%	-17.41%	-23.80%	-24.96%	-19.30%	-69.65%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-18.10	-38.69	-49.43	-20.41	-19.15	-19.62	-11.85	-16.40	-18.44	-15.07	-57.80
NOPAT to Interest Expense	-14.49	-29.45	-43.49	-15.54	-15.24	-14.82	-15.20	-13.79	-14.58	-12.34	-40.86
EBIT Less CapEx to Interest Expense	-20.71	-40.53	-50.62	-21.91	-20.37	-20.72	-12.82	-17.47	-19.12	-15.52	-58.60
NOPAT Less CapEx to Interest Expense	-17.11	-31.30	-44.68	-17.05	-16.47	-15.93	-16.17	-14.85	-15.26	-12.79	-41.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-203.47%	-30.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Unity Software Inc. (NYSE: U) — four-year trend snapshot based on quarterly statements up to Q4 2025. The company shows topline growth and improving operating cash flow, but remains margin-negative with sizeable R&D and operating expenses, while carrying a meaningful debt load.

Revenue growth to close 2025: Q4 2025 revenue was $503.1M, up about 10% from Q4 2024's $457.1M.
Operating cash flow positive in 2025: Net cash from continuing operating activities was $121.4M in Q4 2025, $155.4M in Q3 2025, $133.1M in Q2 2025, and $13.0M in Q1 2025.
Strong liquidity: Cash & equivalents hovered around $1.7B–$1.9B in 2025 (e.g., $1.899B in Q3 2025 and $1.691B in Q2 2025).
Gross margin remains high: Gross margin sits in the mid-70% range (Q4 2025: $373.85M gross profit on $503.09M revenue; Q3 2025: $350.28M on $470.62M).
Solid balance sheet base: Total equity around $3.18B–$3.21B and total assets around $6.6B–$6.8B as of mid-2025 (e.g., Q3 2025: Total Assets $6.783B; Total Equity ~$3.204B).
Persistent net losses: Net income remains negative in recent quarters (e.g., Q4 2025 net income -$89.4M; Q3 2025 -$126.8M; Q4 2024 -$122.7M).
R&D and operating spend high: Research & Development remains a large expense (Q4 2025 RD $249.7M; Q3 2025 RD $244.4M; Q4 2024 RD $218.0M), contributing to ongoing losses.
Negative pre-tax results: Pre-tax income is negative in most quarters (e.g., Q4 2025 pre-tax -$97.1M; Q3 2025 -$117.5M).
Operating losses vs. gross profit: Total operating expenses exceed gross profit in several quarters (Q4 2025: operating expenses $480.36M vs gross profit $373.85M; Q3 2025: $476.14M vs $350.28M).
Debt burden and leverage considerations: Long-term debt around $2.23B and total liabilities about $3.32B as of late 2025, indicating meaningful leverage amid ongoing losses.

Bottom line: Unity demonstrates top-line growth and improving cash generation from operations in 2025, paired with a strong balance sheet and ample liquidity. However, the company continues to incur losses with a high level of R&D and operating expenses, and carries a notable debt load that investors should weigh against its growth investments.

05/25/26 07:30 AM ETAI Generated. May Contain Errors.

Unity Software Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Unity Software's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Unity Software's net income appears to be on an upward trend, with a most recent value of -$401.49 million in 2025, rising from -$131.60 million in 2018. The previous period was -$664.29 million in 2024. See Unity Software's forecast for analyst expectations on what's next for the company.

Unity Software's total operating income in 2025 was -$479.05 million, based on the following breakdown:

Total Gross Profit: $1.37 billion
Total Operating Expenses: $1.85 billion

Over the last 7 years, Unity Software's total revenue changed from $380.76 million in 2018 to $1.85 billion in 2025, a change of 385.8%.

Unity Software's total liabilities were at $3.34 billion at the end of 2025, a 0.9% increase from 2024, and a 805.7% increase since 2019.

In the past 6 years, Unity Software's cash and equivalents has ranged from $129.96 million in 2019 to $2.06 billion in 2025, and is currently $2.06 billion as of their latest financial filing in 2025.

Over the last 7 years, Unity Software's book value per share changed from 0.00 in 2018 to 7.57 in 2025, a change of 756.6%.

Related Companies

Financial statements for NYSE:U last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Unity Software (U) Financials

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Unity Software (U) Financials

Annual Income Statements for Unity Software

Quarterly Income Statements for Unity Software

Annual Cash Flow Statements for Unity Software

Quarterly Cash Flow Statements for Unity Software

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Quarterly Balance Sheets for Unity Software

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Quarterly Metrics And Ratios for Unity Software

Financials Breakdown Chart

Key Financial Trends

Unity Software Financials - Frequently Asked Questions

When does Unity Software's fiscal year end?

How has Unity Software's net income changed over the last 7 years?

What is Unity Software's operating income?

How has Unity Software's revenue changed over the last 7 years?

How much debt does Unity Software have?

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How has Unity Software's book value per share changed over the last 7 years?

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