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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) has appointed Holly Hess Groos to its Board of Directors, effective May 4, 2021. Groos brings extensive experience in telecommunications and digital media, having held senior strategic roles at Verizon and served as CFO for Verizon Wireless. Her expertise includes financial operations and audit functions. Chairman Rob Deutschman noted that Groos's leadership and operational experience will aid in the company's growth strategy. Digital Turbine focuses on simplifying content discovery and has partnered with over 40 mobile operators globally.
Digital Turbine, Inc. (Nasdaq: APPS) has successfully acquired AdColony, a key mobile advertising platform with over 1.5 billion global users. This acquisition aims to enhance Digital Turbine's media solutions for its partners and improve user experiences through targeted content delivery. AdColony's estimated revenue for Q1 2021 stands at $58.3 million, marking a 37% increase year-over-year. Following this, Digital Turbine anticipates a revenue of $135 to $140 million for Q1 fiscal 2022. Additionally, the company secured a $400 million credit facility to support its growth initiatives.
Digital Turbine has announced a definitive purchase agreement to acquire approximately 95% of Fyber N.V. for $600 million. This acquisition is part of Digital Turbine's strategy to enhance its mobile advertising solutions. The deal includes $150 million in cash at closing, $400 million in newly issued shares, and an additional $50 million earn-out based on Fyber's future revenues. The acquisition aims to create a comprehensive mobile advertising ecosystem, leveraging Fyber's expertise and extensive network to enhance profitability for app developers.
On March 9, 2021, Digital Turbine (Nasdaq: APPS) announced that CEO Bill Stone will engage in a live virtual fireside chat at the 33rd Annual ROTH Conference on March 15, 2021, starting at 10:30 AM ET. Investors can access the webcast via the provided link. Following the chat, Mr. Stone will conduct virtual one-on-one and small group meetings with investors throughout the day. Digital Turbine specializes in content discovery on mobile devices, partnering with over 40 operators and OEMs globally, delivering over three billion app preloads for various advertising campaigns.
Digital Turbine (Nasdaq: APPS) has acquired Triapodi Ltd. (d/b/a Appreciate), a programmatic mobile advertising DSP company, for $22.5 million in cash, plus $6.0 million in performance bonuses. Appreciate's platform conducts approximately 60 billion daily auctions and enhances Digital Turbine's media and advertising solutions, enriching user experiences. The acquisition aligns with Digital Turbine's strategy to provide comprehensive solutions for its partners while leveraging synergies with AdColony, thereby enhancing its ad-tech capabilities.
Digital Turbine (Nasdaq: APPS) announced a definitive agreement to acquire AdColony from Otello Corporation for an estimated $350 million to $375 million. This acquisition expands Digital Turbine's position in the mobile advertising space, leveraging AdColony's reach to over 1.5 billion users and its advanced video technologies. The deal includes $100 million at closing, another $100 million after six months, and an earn-out of up to $175 million based on future performance. The acquisition is expected to close in the fiscal fourth quarter, pending shareholder approval.
Digital Turbine, Inc. (Nasdaq: APPS) reported strong financial results for the fiscal third quarter of 2021, with total revenue at $88.6 million, a 146% increase from the previous year. Application Media revenue rose 58% to $56.9 million, while Content Media revenue reached $31.7 million. GAAP net income was $14.5 million ($0.15/share), up from $3.3 million in Q3 2020. Non-GAAP adjusted net income surged 278% to $20.0 million ($0.21/share). The company also entered a new $100 million credit facility to enhance growth. Full-year revenue guidance is set between $298 million and $300 million.
Digital Turbine, Inc. (Nasdaq: APPS) will host a conference call on February 3, 2021, at 4:30 PM ET to discuss its fiscal 2021 third quarter financial results. The call will feature CEO Bill Stone and CFO Barrett Garrison. Interested parties can join by dialing 855-238-2713 in the U.S. or 412-542-4111 internationally. A live webcast will also be available on their website.
Digital Turbine, Inc. (Nasdaq: APPS) reported a strong fiscal second quarter for 2021, with revenue of $70.9 million, marking a 116% increase year-over-year. Application Media revenue rose 50% to $49.1 million, while Content Media revenue reached $21.8 million. The company achieved GAAP net income of $0.4 million or $0.00 per share, recovering from a loss of $1.3 million last year. Non-GAAP adjusted net income was $14.5 million, 265% higher than the previous year. Looking ahead, revenue guidance for Q3 is projected between $72 million and $75 million.
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