Welcome to our dedicated page for Digital Turbine news (Ticker: APPS), a resource for investors and traders seeking the latest updates and insights on Digital Turbine stock.
Digital Turbine, Inc. (NASDAQ: APPS) is a global leader in providing mobile growth solutions for a diverse range of stakeholders within the mobile application ecosystem, including mobile operators, original equipment manufacturers (OEMs), app advertisers, and mobile publishers. Headquartered in Austin, Texas, with significant global offices in Durham, Berlin, San Francisco, Singapore, Sydney, and Tel Aviv, Digital Turbine's innovative platform connects the mobile ecosystem by delivering apps and content to the right users at the right time.
Digital Turbine's core business is anchored in two primary segments: On Device Solutions and App Growth Platform. Through its On Device Solutions, the company provides white-label billing, content marketplaces, and monetization solutions via app recommendations. The App Growth Platform focuses on end-to-end solutions for app advertisers and publishers to enhance user acquisition, engagement, and monetization. As of recent, Digital Turbine has achieved over 150 million app installs for hundreds of advertisers and serves more than 31 million customers monthly through various global operators.
The company recently expanded its partnership with Xiaomi, aiming to enhance app recommendations for Xiaomi smartphone users worldwide. This collaboration signifies a notable global reach, now delivering innovative solutions to over 800 million devices. Additionally, Digital Turbine has forged a strategic alliance with ONE Store, a major player in Korea's app market, which promises to extend their technology and offerings into new global markets including Taiwan and beyond.
Financially, Digital Turbine has demonstrated robust revenue streams, although it faces certain challenges. For fiscal Q2 2024, the company reported revenues of $143.3 million but also faced a GAAP net loss of $161.5 million, attributed largely to a noncash goodwill impairment charge. Despite these setbacks, the company remains optimistic with strategic investments and a focus on enhancing their on-device presence and direct distribution models. The recent appointment of Michael Akkerman as the Chief Business Officer underscores Digital Turbine's commitment to driving sustained growth and innovation within the mobile growth landscape.
For additional information, please visit www.digitalturbine.com.
MobileX has appointed Mohammed Malique, co-founder and former General Counsel at Lycamobile, as Group Lead for the UK and EU, signaling its expansion into international markets. His role will center on developing strategic initiatives to enhance MobileX's offerings while reducing customer costs, particularly by eliminating international roaming fees. With over 20 years of experience in the mobile sector and a background in telecommunications law, Malique is expected to drive revenue growth and navigate regulatory challenges. Founded by Peter Adderton, MobileX aims to provide customizable mobile services that leverage AI to optimize data usage and reduce costs for consumers. The company's unique, app-based approach is designed for significant cost savings while ensuring reliable service.
FAQ
What is the current stock price of Digital Turbine (APPS)?
What is the market cap of Digital Turbine (APPS)?
What does Digital Turbine, Inc. specialize in?
Where is Digital Turbine headquartered?
What are the main business segments of Digital Turbine?
What recent partnership has Digital Turbine expanded?
How has Digital Turbine performed financially in recent quarters?
What is Digital Turbine's recent strategic investment?
Who is the new Chief Business Officer at Digital Turbine?
What are some of the global offices of Digital Turbine?
How many app installs has Digital Turbine achieved?
What is the significance of Digital Turbine’s partnership with ONE Store?
