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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.
Digital Turbine (NASDAQ: APPS) announced a strategic investment in Aptoide, one of the largest independent Android app stores, during its Series-B funding round, amounting to $12M. This partnership aims to enhance app distribution solutions for app developers and operators, leveraging both companies' technologies. Digital Turbine's Ignite platform, installed on over 800 million devices, simplifies app discovery. The collaboration promises a more curated app experience, driving growth for developers and operators in the complex mobile ecosystem.
Digital Turbine (NASDAQ: APPS) and Apptopia have released the BRAG (Brand Relative App Growth) Index II, providing insights into mobile app performance trends. The index analyzes brand metrics, including Brand Power and Brand Velocity, to assess market positioning. Key findings reveal which financial brands are likely to evolve into super apps, which streaming services can thrive amidst content competition, and shopping brands gaining traction despite reduced discretionary spending. The report aims to enhance understanding of the interplay between brand strength and app successes in a user acquisition-focused landscape.
Digital Turbine reported a first quarter revenue of $188.6 million, highlighting a 19% year-over-year increase on an as-reported basis and 5% on a pro forma basis. The GAAP net income stood at $15.0 million with an EPS of $0.15. Non-GAAP EPS increased by 12% to $0.38, alongside a 30% year-over-year rise in Non-GAAP adjusted EBITDA to $51.9 million. The company projects second quarter revenue between $170 million and $180 million with EBITDA of $46 million to $50 million.
Digital Turbine (NASDAQ: APPS) has scheduled a conference call for August 8, 2022, at 4:30 PM ET to discuss its fiscal 2023 Q1 financial results and operational updates. CEO Bill Stone and CFO Barrett Garrison will lead the call, accessible via phone and webcast. A replay will be available until August 15, 2022. Digital Turbine enhances mobile advertising through a proprietary tech stack integrated into devices by wireless operators and OEMs, serving clients globally.
Federman & Sherwood is investigating Digital Turbine, Inc. (NASDAQ: APPS) regarding potential shareholder claims. Investors who purchased shares between February 26, 2021 and May 31, 2022 have until August 5, 2022 to file to serve as lead plaintiffs in a class action. Those interested can find more information about participation and deadlines at the firm's website.
Digital Turbine (NASDAQ: APPS) has introduced a unified corporate brand aimed at enhancing connectivity for clients and partners. This milestone follows the integration of acquisitions including Fyber, AdColony, and Appreciate, resulting in a comprehensive mobile growth platform. CEO Bill Stone emphasized that this rebranding reflects strategic innovation and profitable growth, simplifying access to their full range of products. The new brand identity will be implemented across various platforms, aiding clients like Accuweather in achieving growth through app distribution and monetization.
Federman & Sherwood is investigating Digital Turbine, Inc. (NASDAQ: APPS) regarding potential shareholder rights violations. Investors who purchased common stock between August 9, 2021 and May 17, 2022 should be aware that they have until August 5, 2022 to file as lead plaintiffs in a class action lawsuit. This action aims to secure their rights and compensation it may ensure. Interested investors can find more information on filing and participating in the action through the provided links.
Federman & Sherwood is investigating Digital Turbine, Inc (NASDAQ: APPS) concerning potential securities violations during the class period from August 9, 2021 to May 17, 2022. Investors who purchased shares during this timeframe have until August 5, 2022 to file a motion to be appointed as lead plaintiff in the class action lawsuit. For details on participation, interested parties can visit the firm's website.
Digital Turbine reported fiscal 2022 revenue of $747.6 million, marking a 138% increase year-over-year. The fourth quarter revenue reached $184.1 million, up 94% year-over-year. GAAP net income for the year was $35.6 million ($0.35 EPS), while non-GAAP EPS increased 124% to $1.66. The company also highlighted significant growth in adjusted EBITDA, which reached $195.2 million, a 158% increase. Looking ahead, the company anticipates Q1 2023 revenue between $183 million and $187 million.
Digital Turbine, Inc. (Nasdaq: APPS) will host a conference call on May 31, 2022, at 4:30 PM ET to discuss its fourth quarter and fiscal 2022 financial results. The call will feature CEO Bill Stone and CFO Barrett Garrison, accessible by dialing 855-238-2713 in the U.S. A live and archived webcast will be available on the company's Investor Relations website. Playback access will be offered until June 7, 2022. Digital Turbine is recognized for its innovative mobile growth platform, enhancing advertising for agencies, app developers, carriers, and OEMs.
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