Unity Software (U)

Unity Software (U) is the dominant real-time 3D game-engine and adtech platform, now in a post-crisis turnaround that is re-accelerating on the back of the Unity Vector AI advertising stack and record adoption of the Unity 6 engine, under chief executive Matt Bromberg. The company listed on the NYSE on 18 September 2020 at $52.00 a share, merged with ironSource on 7 November 2022, then suffered a self-inflicted crisis when the September 2023 Runtime Fee announcement triggered a developer revolt and the departure of chief executive John Riccitiello on 9 October 2023. Bromberg was appointed on 1 May 2024, the Runtime Fee was cancelled in September 2024, and Unity 6 launched on 17 October 2024. Revenue troughed at minus 25 per cent year on year in the fourth quarter of 2024, turned positive for the first time in the third quarter of 2025 (plus 5 per cent, with the stock up 18 per cent on the print), beat expectations again in the fourth quarter of 2025 (plus 10 per cent) but fell 26 per cent on a soft guide, and then delivered a standout second-quarter 2026 result: revenue of $546.5 million, up 23.9 per cent year on year and 11.8 per cent quarter on quarter, a clean beat against $514 million consensus, adjusted earnings per share of $0.28, and third-quarter strategic-sales guidance of $540 million to $550 million. The shares traded at roughly $35 on 6 August 2026, gapping 2.6 per cent higher on the print. The stock sits mid-cycle: well off the $52 all-time high but comfortably recovered from the $16.78 low and the roughly $21 trough seen in February.