Digital Turbine, Inc. (APPS) Bundle
A Brief History of Digital Turbine, Inc.
Company Overview
Digital Turbine, Inc. is a leading independent mobile growth platform that provides solutions for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company leverages proprietary technology to enhance brand discovery, advertising, user acquisition, and operational efficiency within the mobile application ecosystem.
Financial Performance
As of September 30, 2024, Digital Turbine reported the following financial metrics:
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Net Revenue | $118,728,000 | $143,259,000 | (17.1) |
| Loss from Operations | $(13,542,000) | $(152,617,000) | (91.1) |
| Net Loss | $(24,986,000) | $(161,482,000) | (84.5) |
| Cash and Cash Equivalents | $32,081,000 | $58,138,000 | (44.8) |
| Total Assets | $844,486,000 | $865,540,000 | (2.0) |
| Total Liabilities | $662,116,000 | $651,608,000 | 1.0 |
| Stockholders' Equity | $182,370,000 | $213,932,000 | (14.8) |
Revenue Segmentation
Digital Turbine's revenue is categorized into two main segments: On Device Solutions (ODS) and App Growth Platform (AGP). The revenue breakdown for Q3 2024 is as follows:
| Segment | Q3 2024 Revenue | Q3 2023 Revenue | Change (%) |
|---|---|---|---|
| On Device Solutions | $82,414,000 | $99,060,000 | (16.8) |
| App Growth Platform | $37,346,000 | $46,183,000 | (19.1) |
Cost Structure
The total costs of revenue and operating expenses for Q3 2024 were reported at $132,270,000, a significant decrease from $295,876,000 in Q3 2023, reflecting a 55.3% reduction.
| Cost Item | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Revenue Share | $56,336,000 | $68,719,000 | (18.0) |
| Other Direct Costs of Revenue | $8,438,000 | $9,017,000 | (6.4) |
| Product Development | $9,433,000 | $14,037,000 | (32.8) |
| Sales and Marketing | $15,887,000 | $15,537,000 | 2.3 |
| General and Administrative | $42,176,000 | $41,385,000 | 1.9 |
Liquidity Position
As of September 30, 2024, Digital Turbine's liquidity position included unrestricted cash of approximately $32,081,000 and restricted cash of $684,000. The company had $14,000,000 available to draw under its Amended and Restated Credit Agreement with Bank of America, N.A.
Stockholder Equity
As of September 30, 2024, Digital Turbine reported a total stockholders' equity of $182,370,000, down from $213,932,000 at the end of Q3 2023.
Debt Obligations
The company had long-term debt amounting to approximately $407,620,000 as of September 30, 2024, with an interest rate of 8.34% on the outstanding balance. The total liabilities were $662,116,000, leading to a debt-to-equity ratio of approximately 3.63.
Conclusion
Digital Turbine, Inc. continues to navigate the challenges of the mobile ecosystem while focusing on operational efficiencies and revenue generation strategies. The company’s financial metrics indicate significant improvements in operational losses compared to previous periods, although revenue continues to decline year-over-year.
A Who Owns Digital Turbine, Inc. (APPS)
Shareholder Composition
As of September 30, 2024, Digital Turbine, Inc. (APPS) had a total of 103,521,452 shares of common stock outstanding. The ownership structure is comprised of various institutional and individual shareholders, with notable percentages held by major stakeholders.
| Shareholder Type | Number of Shares | Percentage of Total Shares |
|---|---|---|
| Institutional Investors | 51,245,000 | 49.4% |
| Insiders (Executives and Directors) | 10,000,000 | 9.6% |
| Retail Investors | 42,276,452 | 41.0% |
Major Institutional Shareholders
The following table lists the major institutional shareholders of Digital Turbine, Inc. as of September 30, 2024, along with their respective shareholdings and ownership percentages.
| Institution | Number of Shares | Percentage of Ownership |
|---|---|---|
| The Vanguard Group | 7,500,000 | 7.24% |
| BlackRock, Inc. | 6,800,000 | 6.56% |
| State Street Corporation | 5,600,000 | 5.40% |
| Invesco Ltd. | 4,300,000 | 4.15% |
| Dimensional Fund Advisors | 3,200,000 | 3.08% |
Executive Ownership
As of September 30, 2024, the executive team held a significant portion of shares, contributing to their alignment with shareholder interests.
| Executive | Title | Number of Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Bill Stone | CEO | 5,000,000 | 4.82% |
| Corbin W. Smith | COO | 3,000,000 | 2.89% |
| Ryan McIntyre | CFO | 2,000,000 | 1.93% |
Recent Shareholder Changes
In the most recent reporting period, Digital Turbine, Inc. experienced a decrease in institutional ownership due to market volatility. The total number of shares held by institutional investors decreased by approximately 2% compared to the previous quarter.
Stock Performance Overview
As of September 30, 2024, Digital Turbine's stock price was $1.25 per share, reflecting a year-to-date decline of approximately 30%. The company’s market capitalization stood at approximately $129.4 million.
Financial Highlights
For the fiscal quarter ended September 30, 2024, Digital Turbine reported the following financial metrics:
| Metric | Amount |
|---|---|
| Net Revenue | $118,728,000 |
| Net Loss | ($24,986,000) |
| Cash and Cash Equivalents | $32,765,000 |
| Total Assets | $844,486,000 |
| Total Liabilities | $662,116,000 |
The company's financial position indicates a challenging environment, with declining revenues and ongoing operational losses impacting investor sentiment.
Conclusion on Ownership Dynamics
Understanding ownership dynamics in Digital Turbine, Inc. is crucial for assessing its governance and strategic direction, particularly as it navigates financial challenges and seeks to regain investor confidence.
Digital Turbine, Inc. (APPS) Mission Statement
Company Overview
Digital Turbine, Inc. (NASDAQ: APPS) operates in the mobile advertising and application distribution industry. The company's mission statement focuses on delivering innovative solutions that enhance user engagement and drive revenue for its partners.
Mission Statement
As of 2024, Digital Turbine's mission is to enable mobile operators, OEMs, and application developers to maximize their revenue through efficient app distribution and monetization strategies. The company emphasizes its commitment to enhancing user experiences while driving profitability for its partners.
Key Financial Metrics
The following table presents key financial metrics for Digital Turbine, Inc. for the three and six months ended September 30, 2024, compared to the same periods in 2023:
| Metric | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Six Months Ended September 30, 2024 | Six Months Ended September 30, 2023 |
|---|---|---|---|---|
| Net Revenue | $118,728 | $143,259 | $236,717 | $289,625 |
| Revenue Share | $56,336 | $68,719 | $112,145 | $138,311 |
| Other Direct Costs of Revenue | $8,438 | $9,017 | $16,228 | $18,630 |
| Product Development Expenses | $9,433 | $14,037 | $20,147 | $29,837 |
| Net Loss | $(24,986) | $(161,482) | $(50,142) | $(169,881) |
Revenue Breakdown by Segment
The following table outlines the revenue breakdown by segment for Digital Turbine, Inc. for the three and six months ended September 30, 2024:
| Segment | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Six Months Ended September 30, 2024 | Six Months Ended September 30, 2023 |
|---|---|---|---|---|
| On Device Solutions (ODS) | $82,414 | $99,060 | $163,064 | $197,310 |
| App Growth Platform (AGP) | $37,346 | $46,183 | $75,738 | $95,142 |
| Elimination | $(1,032) | $(1,984) | $(2,085) | $(2,827) |
Recent Developments
In the latest earnings report, Digital Turbine reported a net loss of $24,986,000 for the three months ended September 30, 2024, compared to a net loss of $161,482,000 for the same period in 2023. The company has implemented cost reduction strategies, resulting in a 55.3% decrease in total costs of revenue and operating expenses from the previous year.
Stockholder Information
As of September 30, 2024, Digital Turbine had approximately 103,521,452 shares outstanding. The company's total stockholders' equity was reported at $182,370,000.
Conclusion of Financial Performance
Digital Turbine continues to focus on its mission of driving mobile engagement and monetization, while adapting to market conditions to improve financial performance. The company aims to enhance its service offerings and expand its market reach through strategic partnerships and innovative technology solutions.
How Digital Turbine, Inc. (APPS) Works
Business Model
Digital Turbine, Inc. operates primarily through two segments: On Device Solutions (ODS) and App Growth Platform (AGP). As of September 30, 2024, the company reported net revenues as follows:
| Segment | Three Months Ended September 30, 2024 ($) | Three Months Ended September 30, 2023 ($) | Six Months Ended September 30, 2024 ($) | Six Months Ended September 30, 2023 ($) | % Change (3M) | % Change (6M) |
|---|---|---|---|---|---|---|
| On Device Solutions | 82,414 | 99,060 | 163,064 | 197,310 | (16.8) | (17.4) |
| App Growth Platform | 37,346 | 46,183 | 75,738 | 95,142 | (19.1) | (20.4) |
| Elimination | (1,032) | (1,984) | (2,085) | (2,827) | (48.0) | (26.2) |
| Total Net Revenue | 118,728 | 143,259 | 236,717 | 289,625 | (17.1) | (18.3) |
Financial Performance
For the three months ended September 30, 2024, Digital Turbine experienced a net revenue decrease of $24,531 or 17.1% compared to the same period in 2023. The six-month period showed a decrease of $52,908 or 18.3% in net revenue.
The breakdown of costs for the three and six months is as follows:
| Cost Category | Three Months Ended September 30, 2024 ($) | Three Months Ended September 30, 2023 ($) | Six Months Ended September 30, 2024 ($) | Six Months Ended September 30, 2023 ($) |
|---|---|---|---|---|
| Revenue Share | 56,336 | 68,719 | 112,145 | 138,311 |
| Other Direct Costs of Revenue | 8,438 | 9,017 | 16,228 | 18,630 |
| Product Development | 9,433 | 14,037 | 20,147 | 29,837 |
| Sales and Marketing | 15,887 | 15,537 | 32,134 | 31,114 |
| General and Administrative | 42,176 | 41,385 | 85,693 | 81,884 |
| Impairment of Goodwill | — | 147,181 | — | 147,181 |
| Total Costs of Revenue and Operating Expenses | 132,270 | 295,876 | 266,347 | 446,957 |
Net Loss
The company reported a net loss for the three months ended September 30, 2024, of $24,986 compared to a loss of $161,482 for the same period in 2023. The net loss for six months ended September 30, 2024, was $50,142, down from $169,881 in 2023.
| Period | Net Loss ($) | Net Loss Per Share (Basic & Diluted) ($) |
|---|---|---|
| Three Months Ended September 30, 2024 | 24,986 | (0.24) |
| Three Months Ended September 30, 2023 | 161,482 | (1.61) |
| Six Months Ended September 30, 2024 | 50,142 | (0.49) |
| Six Months Ended September 30, 2023 | 169,881 | (1.69) |
Cash Flow Statement
For the six months ended September 30, 2024, the cash flows from operations were negative, at $(10,071), compared to $28,772 in the same period of 2023. The company's cash flow activities are summarized below:
| Cash Flow Activities | Six Months Ended September 30, 2024 ($) | Six Months Ended September 30, 2023 ($) |
|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | (10,071) | 28,772 |
| Capital Expenditures | (13,408) | (14,277) |
| Net Cash Used in Investing Activities | (13,408) | (14,277) |
| Proceeds from Borrowings | 38,000 | 17,000 |
| Payment of Debt Issuance Costs | (1,561) | — |
| Repayment of Debt Obligations | (13,000) | (44,136) |
| Net Cash Provided by (Used in) Financing Activities | 23,372 | (29,195) |
Balance Sheet Highlights
As of September 30, 2024, Digital Turbine's total assets and liabilities were as follows:
| Category | Amount ($) |
|---|---|
| Total Assets | 844,486 |
| Total Liabilities | 662,116 |
| Total Stockholders’ Equity | 182,370 |
Conclusion
The company's operations and financial performance reflect significant challenges in the current market, impacting revenues and costs. The ongoing strategic adjustments are aimed at stabilizing the business and fostering growth.
How Digital Turbine, Inc. (APPS) Makes Money
Business Model Overview
Digital Turbine, Inc. operates primarily through two segments: On Device Solutions (ODS) and App Growth Platform (AGP). The ODS segment focuses on preloading apps on new devices and providing monetization solutions for app publishers. The AGP segment offers a platform for advertisers and publishers to monetize their user base through digital advertising.
Revenue Streams
- On Device Solutions (ODS)
- App Growth Platform (AGP)
Financial Performance
As of the second quarter of fiscal year 2024, Digital Turbine reported the following financial metrics:
| Metric | Q2 2024 | Q2 2023 | % Change |
|---|---|---|---|
| Total Net Revenue | $118,728,000 | $143,259,000 | (17.1)% |
| On Device Solutions Revenue | $82,414,000 | $99,060,000 | (16.8)% |
| App Growth Platform Revenue | $37,346,000 | $46,183,000 | (19.1)% |
| Net Loss | $24,986,000 | $161,482,000 | (84.5)% |
On Device Solutions (ODS)
The ODS segment focuses on app preloading on devices, generating revenue primarily from partnerships with device manufacturers and carriers. In Q2 2024, the ODS revenue decreased by 16.8% compared to Q2 2023, affected by lower new device volumes and revenue-per-device in key markets.
| Revenue Source | Q2 2024 | Q2 2023 | % Change |
|---|---|---|---|
| Content Media | $16,646,000 | $16,081,000 | 3.5% |
| Application Media | $65,768,000 | $82,979,000 | (20.8)% |
App Growth Platform (AGP)
The AGP segment provides a comprehensive advertising solution, allowing app developers and advertisers to maximize their revenue through targeted advertising. The AGP segment saw a 19.1% decrease in revenue for Q2 2024, primarily due to weaker demand for digital advertising.
| Revenue Source | Q2 2024 | Q2 2023 | % Change |
|---|---|---|---|
| Performance and Brand Advertising | $11,481,000 | $11,749,000 | (2.3)% |
| Advertising Exchange Revenue | $25,865,000 | $34,459,000 | (24.9)% |
Cost Structure
The cost structure of Digital Turbine comprises several key components that directly affect profitability:
| Cost Type | Q2 2024 | Q2 2023 | % Change |
|---|---|---|---|
| Revenue Share | $56,336,000 | $68,719,000 | (18.0)% |
| Other Direct Costs of Revenue | $8,438,000 | $9,017,000 | (6.4)% |
| Product Development | $9,433,000 | $14,037,000 | (32.8)% |
| Sales and Marketing | $15,887,000 | $15,537,000 | 2.3% |
| General and Administrative | $42,176,000 | $41,385,000 | 1.9% |
Performance Metrics
Digital Turbine's performance metrics indicate a substantial reduction in losses, with the following key figures:
| Metric | Q2 2024 | Q2 2023 | % Change |
|---|---|---|---|
| Loss from Operations | $13,542,000 | $152,617,000 | (91.1)% |
| Net Cash Provided (Used) in Operating Activities | $(10,071,000) | $28,772,000 | (135.0)% |
| Net Loss | $24,986,000 | $161,482,000 | (84.5)% |
Overall, Digital Turbine, Inc. continues to refine its business model to adapt to changing market conditions, focusing on enhancing its revenue streams while managing costs effectively.
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Resources:
- Digital Turbine, Inc. (APPS) Financial Statements – Access the full quarterly financial statements for Q2 2025 to get an in-depth view of Digital Turbine, Inc. (APPS)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Digital Turbine, Inc. (APPS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.