Unity Software Inc.
U · Services-Prepackaged Software · 436.5M shares · +35%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$399M (gross $250M, SBC $649M)
Reference price $27.37 · est. market cap ~$11.9B — last insider sale, 2026-05-28 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Game-engine and advertising platform (Unity) — GAAP losses but strong free cash flow.
Strengths
- Strong free cash flow — FCF $404M (72nd), FCF margin 22%
- High gross margin — 74%
Risks
- GAAP losses — operating margin -26%, net margin -22%
- Flat revenue, ad-platform reset — +2%
- Competition/execution risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -21.8%)
- Customer concentration~100% of revenue from one customer/distributor — The following table sets forth the components of our consolidated statements of operations data as a percentage of revenue for the periods indicated: Year Ended December 31, 2025 2024 2023 Reve
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, ARK Investment Management LLC
- Chronic dilutionShare count +35%/yr over 4y (dilution, book value/share -59%)
- Strong balance sheetStrong balance sheet — $2.1B cash & investments
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
- Insider sellingInsider selling — 11 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$6M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): CITADEL ADVISORS LLC, STATE STREET CORP, FMR LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
74.2%
Operating margin
-25.9%
Net margin
-21.8%
Return on equity
-12.4%
Return on assets
-5.9%
Revenue growth (QoQ)
1.0%
Current ratio
1.8×
Free cash flow
$404M
EBITDA
-$18M
Tangible book value
-$579M
Cash & investments
$2.1B
Stock comp / revenue
20.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-28 | Blum Alexander | Sell | 2.1K | $27.37 |
| 2026-05-26 | Barrysmith Mark | Sell | 13K | $27.18 |
| 2026-05-26 | Bromberg Matthew S | Sell | 139K | $27.18 |
| 2026-05-26 | Yahes Jarrod | Sell | 24K | $27.18 |
| 2026-05-26 | Blum Alexander | Sell | 19K | $27.18 |
| 2026-05-26 | Boyden Rebecca Berenice | Sell | 952 | $27.20 |
| 2026-05-13 | SLTA IV (GP), L.L.C. | Grant | 16K | — |
| 2026-05-13 | BOTHA ROELOF | Grant | 13K | — |
| 2026-05-13 | Whitehurst James M | Grant | 8.2K | — |
| 2026-05-13 | Smith Keisha | Grant | 10K | — |
| 2026-05-13 | Kim Bernard Jin | Grant | 8.0K | — |
| 2026-05-13 | Schuler Barry | Grant | 13K | — |
| 2026-05-13 | Sisco Daly Robynne | Grant | 8.0K | — |
| 2026-05-13 | Dovrat Shlomo | Grant | 12K | — |
| 2026-05-01 | Kim Bernard Jin | Grant | 15K | — |
| 2026-03-05 | Yahes Jarrod | Sell | 6.2K | $21.03 |
| 2026-03-02 | Boyden Rebecca Berenice | Grant | 45K | — |
| 2026-03-02 | Bromberg Matthew S | Grant | 504K | — |
| 2026-03-02 | Yahes Jarrod | Grant | 201K | — |
| 2026-03-02 | Blum Alexander | Grant | 201K | — |
| 2026-02-27 | Blum Alexander | Sell | 2.5K | $18.76 |
| 2026-02-25 | Barrysmith Mark | Sell | 11K | $18.07 |
| 2026-02-25 | Yahes Jarrod | Sell | 12K | $18.07 |
| 2026-02-25 | Blum Alexander | Sell | 10K | $18.07 |
| 2025-12-12 | Bar-Zeev Tomer | Sell | 50K | $47.00 |
| 2025-12-11 | Bar-Zeev Tomer | Sell | 1.4K | $52.08 |
| 2025-12-11 | Bar-Zeev Tomer | Sell | 37K | $51.42 |
| 2025-12-11 | Bar-Zeev Tomer | Sell | 86K | $50.58 |
| 2025-12-11 | Helgason David | Sell | 93K | $51.16 |
| 2025-12-11 | Helgason David | Sell | 300K | $49.16 |
| 2025-12-11 | Helgason David | Sell | 8.3K | $49.16 |
| 2025-12-10 | Barrysmith Mark | Sell | 14K | $50.01 |
| 2025-12-10 | Helgason David | Sell | 307K | $50.16 |
| 2025-12-01 | Bar-Zeev Tomer | Sell | 63K | $42.32 |
| 2025-12-01 | Bar-Zeev Tomer | Sell | 187K | $41.80 |
| 2025-11-28 | Blum Alexander | Sell | 2.0K | $42.47 |
| 2025-11-26 | Yahes Jarrod | Sell | 28K | $42.79 |
| 2025-11-25 | Barrysmith Mark | Sell | 600 | $42.47 |
| 2025-11-25 | Blum Alexander | Sell | 25K | $40.89 |
| 2025-11-25 | Blum Alexander | Sell | 13K | $42.11 |
| 2025-11-25 | Blum Alexander | Sell | 2.2K | $42.46 |
| 2025-11-25 | Barrysmith Mark | Sell | 13K | $41.33 |
| 2025-11-25 | Yahes Jarrod | Sell | 21K | $40.89 |
| 2025-11-25 | Yahes Jarrod | Sell | 9.7K | $42.05 |
| 2025-11-25 | Yahes Jarrod | Sell | 3.8K | $42.42 |
| 2025-11-25 | Bromberg Matthew S | Sell | 25K | $40.89 |
| 2025-11-25 | Bromberg Matthew S | Sell | 11K | $42.04 |
| 2025-11-25 | Bromberg Matthew S | Sell | 4.6K | $42.43 |
| 2025-11-24 | Barrysmith Mark | Sell | 30K | $41.41 |
| 2025-11-17 | Barrysmith Mark | Sell | 817 | $36.60 |
| 2025-11-11 | Dovrat Shlomo | Sell | 30K | $42.87 |
| 2025-11-10 | Yahes Jarrod | Sell | 15K | $42.75 |
| 2025-11-06 | Yahes Jarrod | Sell | 12K | $41.01 |
| 2025-11-06 | Yahes Jarrod | Sell | 2.9K | $41.74 |
| 2025-11-03 | Bar-Zeev Tomer | Sell | 235K | $37.94 |
| 2025-11-03 | Bar-Zeev Tomer | Sell | 15K | $38.55 |
| 2025-10-16 | Barrysmith Mark | Sell | 802 | $36.22 |
| 2025-10-15 | Gupta Anirma | Sell | 2.7K | $37.85 |
| 2025-10-01 | Bar-Zeev Tomer | Sell | 207K | $39.72 |
| 2025-10-01 | Bar-Zeev Tomer | Sell | 43K | $40.36 |
| 2025-09-16 | Barrysmith Mark | Sell | 645 | $46.52 |
| 2025-09-15 | Bar-Zeev Tomer | Sell | 116K | $45.50 |
| 2025-09-15 | Bar-Zeev Tomer | Sell | 34K | $46.14 |
| 2025-09-15 | Gupta Anirma | Sell | 2.3K | $43.99 |
| 2025-09-08 | Helgason David | Sell | 468K | $44.70 |
| 2025-09-08 | Helgason David | Sell | 285K | $45.44 |
| 2025-09-08 | Helgason David | Sell | 597K | $43.73 |
| 2025-09-02 | Bar-Zeev Tomer | Sell | 150K | $37.75 |
| 2025-08-27 | Blum Alexander | Sell | 64K | $39.41 |
| 2025-08-26 | Bromberg Matthew S | Sell | 120K | $40.03 |
| 2025-08-26 | Bromberg Matthew S | Option exercise | 120K | $22.38 |
| 2025-08-25 | Gupta Anirma | Sell | 5.6K | $39.60 |
| 2025-08-25 | Yahes Jarrod | Sell | 16K | $39.60 |
| 2025-08-25 | Blum Alexander | Sell | 22K | $38.99 |
| 2025-08-25 | Blum Alexander | Sell | 27K | $39.60 |
| 2025-08-25 | Barrysmith Mark | Sell | 4.4K | $39.01 |
| 2025-08-25 | Barrysmith Mark | Sell | 4.7K | $39.61 |
| 2025-08-25 | Gupta Anirma | Sell | 5.2K | $39.01 |
| 2025-08-25 | Yahes Jarrod | Sell | 14K | $39.00 |
| 2025-08-18 | Barrysmith Mark | Sell | 790 | $37.89 |
| 2025-08-15 | Gupta Anirma | Sell | 3.4K | $38.37 |
| 2025-08-11 | Blum Alexander | Sell | 2.6K | $32.99 |
| 2025-08-06 | Bar-Zeev Tomer | Sell | 50K | $38.32 |
| 2025-08-06 | Bar-Zeev Tomer | Sell | 491 | $38.86 |
| 2025-08-04 | Bar-Zeev Tomer | Sell | 39K | $33.06 |
| 2025-08-04 | Bar-Zeev Tomer | Sell | 11K | $33.60 |
| 2025-08-01 | Bar-Zeev Tomer | Sell | 50K | $31.55 |
| 2025-07-17 | Bar-Zeev Tomer | Sell | 50K | $37.67 |
| 2025-07-16 | Barrysmith Mark | Sell | 1.0K | $32.30 |
| 2025-07-16 | Bar-Zeev Tomer | Sell | 50K | $32.97 |
| 2025-07-09 | Dovrat Shlomo | Sell | 50K | $30.01 |
| 2025-07-03 | Bar-Zeev Tomer | Sell | 50K | $25.06 |
| 2025-06-16 | Barrysmith Mark | Sell | 1.3K | $24.09 |
| 2025-06-12 | Dovrat Shlomo | Sell | 16K | $25.01 |
| 2025-06-11 | Bar-Zeev Tomer | Grant | 12K | — |
| 2025-06-11 | Schmidt Campbell Mary | Grant | 7.6K | — |
| 2025-06-11 | Schuler Barry | Grant | 13K | — |
| 2025-06-11 | Sisco Daly Robynne | Grant | 7.6K | — |
| 2025-06-11 | Smith Keisha | Grant | 11K | — |
| 2025-06-11 | Dovrat Shlomo | Sell | 34K | $25.02 |
| 2025-06-11 | Dovrat Shlomo | Grant | 12K | — |
| 2025-06-11 | BOTHA ROELOF | Grant | 13K | — |
| 2025-06-11 | Whitehurst James M | Grant | 14K | — |
| 2025-06-11 | SLTA IV (GP), L.L.C. | Grant | 22K | — |
| 2025-06-11 | Helgason David | Grant | 7.6K | — |
| 2025-06-09 | Bar-Zeev Tomer | Sell | 9.6K | $25.51 |
| 2025-06-06 | Helgason David | Sell | 261K | $25.70 |
| 2025-06-05 | Helgason David | Sell | 2.1K | $26.11 |
| 2025-06-02 | Bar-Zeev Tomer | Sell | 238K | $26.38 |
| 2025-06-02 | Bar-Zeev Tomer | Sell | 12K | $26.68 |
| 2025-05-28 | Bar-Zeev Tomer | Sell | 167K | $25.15 |
| 2025-05-27 | Barrysmith Mark | Sell | 14K | $21.23 |
| 2025-05-27 | Barrysmith Mark | Sell | 100 | $21.70 |
| 2025-05-27 | Blum Alexander | Sell | 1.1K | $21.24 |
| 2025-05-27 | Bromberg Matthew S | Sell | 130K | $21.23 |
| 2025-05-27 | Bromberg Matthew S | Sell | 119K | $21.21 |
| 2025-05-27 | Bromberg Matthew S | Sell | 3.0K | $21.66 |
| 2025-05-27 | Whitehurst James M | Sell | 72K | $21.24 |
| 2025-05-27 | Whitehurst James M | Sell | 612 | $21.69 |
| 2025-05-27 | Gupta Anirma | Sell | 47K | $21.24 |
| 2025-05-27 | Gupta Anirma | Sell | 266 | $21.68 |
| 2025-05-27 | Bromberg Matthew S | Sell | 3.8K | $21.66 |
| 2025-05-16 | Barrysmith Mark | Sell | 1.4K | $21.42 |
| 2025-05-01 | Bar-Zeev Tomer | Sell | 167K | $21.59 |
| 2025-04-16 | Barrysmith Mark | Sell | 1.6K | $18.43 |
| 2025-04-15 | Gupta Anirma | Sell | 551 | $18.17 |
| 2025-04-01 | Bar-Zeev Tomer | Sell | 165K | $20.04 |
| 2025-04-01 | Bar-Zeev Tomer | Sell | 1.8K | $20.40 |
| 2025-03-17 | Barrysmith Mark | Sell | 1.4K | $20.61 |
| 2025-03-17 | Gupta Anirma | Sell | 482 | $20.61 |
| 2025-03-05 | Bar-Zeev Tomer | Sell | 14K | $25.02 |
| 2025-03-04 | Barrysmith Mark | Grant | 45K | — |
| 2025-03-04 | The Felix | Grant | 150K | — |
| 2025-03-04 | Gupta Anirma | Grant | 150K | — |
| 2025-03-04 | Yahes Jarrod | Grant | 130K | — |
| 2025-03-04 | Blum Alexander | Grant | 225K | — |
| 2025-03-04 | Bromberg Matthew S | Grant | 320K | — |
| 2025-03-04 | Bar-Zeev Tomer | Sell | 167K | $23.40 |
| 2025-03-04 | Bar-Zeev Tomer | Sell | 70K | $25.15 |
| 2025-02-28 | Helgason David | Sell | 23K | $25.54 |
| 2025-02-28 | Helgason David | Sell | 16K | $26.30 |
| 2025-02-27 | Helgason David | Sell | 22K | $25.88 |
| 2025-02-27 | Helgason David | Sell | 17K | $26.32 |
| 2025-02-26 | Helgason David | Sell | 19K | $26.58 |
| 2025-02-26 | Helgason David | Sell | 20K | $27.24 |
| 2025-02-25 | Blum Alexander | Sell | 1.2K | $25.08 |
| 2025-02-25 | Gupta Anirma | Sell | 19K | $24.82 |
| 2025-02-25 | Gupta Anirma | Sell | 8.6K | $25.47 |
| 2025-02-25 | Gupta Anirma | Sell | 4.2K | $26.56 |
| 2025-02-25 | Blum Alexander | Sell | 166 | $25.82 |
| 2025-02-25 | Blum Alexander | Sell | 84 | $26.71 |
| 2025-02-25 | Barrysmith Mark | Sell | 8.7K | $25.06 |
| 2025-02-25 | Barrysmith Mark | Sell | 2.4K | $26.25 |
| 2025-02-25 | Barrysmith Mark | Sell | 900 | $26.74 |
| 2025-02-25 | The Felix | Sell | 19K | $25.04 |
| 2025-02-25 | The Felix | Sell | 4.8K | $26.10 |
| 2025-02-25 | The Felix | Sell | 3.2K | $26.71 |
| 2025-02-21 | Sisco Daly Robynne | Sell | 15K | $30.00 |
| 2025-02-21 | Helgason David | Sell | 150K | $30.08 |
| 2025-02-20 | Bar-Zeev Tomer | Sell | 83K | $25.44 |
| 2025-02-18 | Barrysmith Mark | Sell | 1.4K | $21.68 |
| 2025-02-18 | Gupta Anirma | Sell | 465 | $21.68 |
| 2025-02-03 | Bar-Zeev Tomer | Sell | 167K | $20.99 |
| 2025-01-16 | Barrysmith Mark | Sell | 1.4K | $21.91 |
| 2025-01-15 | Gupta Anirma | Sell | 456 | $22.96 |
| 2025-01-02 | Bar-Zeev Tomer | Sell | 219K | $24.95 |
| 2025-01-02 | Bar-Zeev Tomer | Sell | 31K | $25.50 |
| 2025-01-01 | Yahes Jarrod | Grant | 538K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-14 | Shareholder vote | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-03-26 | Reg FDExhibits | filing ↗ |
| 2026-02-11 | ResultsExhibits | filing ↗ |
| 2026-02-10 | Exec/director change | filing ↗ |
| 2026-02-10 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-11-12 | Exec/director changeExhibits | filing ↗ |
| 2025-11-05 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-14 | 2026-05-13 | 0001628280-26-034957 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001810806-26-000030 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001810806-26-000032 ↗ |
| 8-K | 2026-03-26 | 2026-03-26 | 0001810806-26-000016 ↗ |
| 10-K | 2026-02-11 | 2025-12-31 | 0001810806-26-000011 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001810806-26-000010 ↗ |
| 8-K | 2026-02-10 | 2026-02-04 | 0001810806-26-000004 ↗ |
| 8-K | 2026-02-10 | 2026-02-09 | 0001810806-26-000006 ↗ |
| 8-K | 2025-11-12 | 2025-11-06 | 0001193125-25-277998 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001810806-25-000167 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001810806-25-000169 ↗ |
| 10-Q | 2025-08-06 | 2025-06-30 | 0001810806-25-000151 ↗ |