Unity shares approach all-time low after falling 91% since November 2021

• Unity shares fell to $18.36 each at closing on February 17th, 2026.
• This marked a 59% decline since the start of the year.
• Shares took a hit after Google released Project Genie in the US.
• As they began to recover, shares took another hit upon the release of Unity's Q4 financial results.

Unity shares have plummeted close to a lifetime low of $18.36 per share at closing on February 17th.

Shares are at their lowest since the summer of 2024, when prices hit a record-low range of approximately $15 to $17 between June and August.

The current fall to $18.36 marks a 59% decline since the beginning of the year, down from $44.25 on January 2nd. It also marks a 16% decline year-over-year.

Shares have fallen even more dramatically when compared to their all-time high on November 18th, 2021. From that $201.12 peak, they have fallen by 91% in under five years.

Unity's overall decline can be attributed to myriad factors, such as the infamous Runtime Fee announcement, the subsequent company-wide restructure, and IronSource's acquisition in 2022. Unity expected that merger to make it a "highly profitable" company, but this has yet to materialise.

And, most recently, Unity has been hit by investor concern over Google's Project Genie.

Red results and new competition

Google rolled out its new world-building AI tech in the US on January 29th, 2026, giving Google AI Ultra subscribers the chance to test the prototype. Users began using text prompts to build virtual worlds, able to be explored in first-person or third-person for up to 60 seconds.

Though Unity CEO Matthew Bromberg called Google’s prototype "a powerful accelerator" rather than a risk, its launch triggered a decline in shares for other game-world creation tools like Roblox and, of course, Unity.

Shares went through eight consecutive days of decline before beginning to recover on February 6th. They reached $29.06 on February 10th before dropping immediately again - after Unity’s Q4 financial results went public.

On February 11th, Unity reported that its results "comfortably exceeded" high-end guidance with revenue up 10% Y/Y to $503 million for the quarter. Adjusted EBITDA was up to $125.

Unity once again made an $89m net loss in the latest quarter, though that was less than the $123m quarterly loss one year earlier.

Across the full year for 2025, Unity generated a total $1.8bn in revenue up 2% Y/Y. The full year saw a net loss of $401.5m, a 38% improvement over 2024.

In the company's latest investor call, Bromberg said the company will be unveiling the beta of its new upgraded Unity AI, which he said will "enable developers to prompt full casual games into existence with natural language only".

AI will be a key topic at Pocket Gamer Connects Summit San Francisco on March 9th. Join hundreds of industry experts to discuss the latest trends here.