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Digital Turbine, Inc. (APPS) SEC Filing 10-Q Quarterly Report for the period ending Friday, December 31, 2021

SEC Filings

Digital Turbine, Inc.

CIK: 317788 Ticker: APPS
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Digital Turbine Reports Fiscal 2022 Third Quarter Financial Results
Third Quarter Revenue Totaled $375.5 Million, Representing Year-over-Year Growth of 324% on an As-Reported Basis and Year-over-Year Growth of 38% on a Pro Forma Basis
Strong Top-Line Growth and Operating Leverage Continue to Drive Significant Profitability Growth and Free Cash Flow Generation
Integrated End-to-End Platform Positioned to Address Greatly Expanded Market Opportunity
Austin, TX – February 8, 2022 –
Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal third quarter ended December 31, 2021. The Company completed the acquisitions of AdColony Holdings AS and Fyber N.V. on April 29 and May 25, 2021, respectively. Specific references made to “pro forma” results in this release provide investors with quarterly results and comparisons as if all acquired businesses were owned for the entirety of the third quarter of fiscal 2021. The Company believes that pro forma results, where applicable, can provide investors with more relevant year-over-year comparisons. The reconciliations between the pro forma and GAAP financial results for the relevant periods are provided in the tables following the Unaudited Consolidated Statements of Cash Flows below.
Recent Financial Highlights:
Fiscal third quarter of 2022 revenue totaled $375.5 million, representing a 324% increase year-over-year on an as-reported basis and a 38% increase year-over-year as compared to the comparable pro forma figure for the fiscal third quarter of 2021.
GAAP net income for the fiscal third quarter of 2022, inclusive of a $18.2 million fair value adjustment to the contingent acquisition-related earn-outs, was $7.1 million, or $0.07 per share, as compared to GAAP net income of $14.5 million, or $0.15 per share for the fiscal third quarter of 2021. Non-GAAP adjusted net income1 for the fiscal third quarter of 2022 was $50.9 million, or $0.49 per share, as compared to Non-GAAP adjusted net income of $20.0 million, or $0.21 per share, in the fiscal third quarter of 2021.
Non-GAAP adjusted EBITDA2 for the fiscal third quarter of 2022 was $57.0 million, representing growth of 153% as compared to Non-GAAP adjusted EBITDA of $22.5 million in the fiscal third quarter of 2021.
“Very few companies can walk and chew gum at the same time,” said Bill Stone, CEO. “We made material progress on our integration strategy in the December quarter, while simultaneously delivering record financial results. Many companies experience difficulties in the present with their execution, because they are overly focused on building the future, or vice versa. I’m proud of our team’s hustle and ability to do both. Integration for the future and execution in the present are becoming core competencies of Digital Turbine.”
“Top-line growth of 324% and 38%, on an as-reported basis and pro forma basis, respectively, is certainly a great result, but I am even more encouraged by the continued operating leverage exhibited by the business model. Non-GAAP adjusted EBITDA of more than $57 million during the December quarter increased by 153% on a year-over-year basis, and Non-GAAP adjusted EPS of $0.49 during the December quarter increased by 133% on a year-over-year basis.”



The following information was filed by Digital Turbine, Inc. (APPS) on Tuesday, February 8, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Digital Turbine, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Operations And Comprehensive Income/(Loss) (Unaudited)
Condensed Consolidated Statements Of Operations And Comprehensive Income/(Loss) (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited) (Parenthetical)
Accounts Receivable
Accounts Receivable (Details)
Accounts Receivable (Tables)
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Detail)
Acquisitions - Pro Forma Financial Information (Detail)
Acquisitions - Summary Of Fair Values Of Assets Acquired And Liabilities Assumed (Detail)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Schedule Of Debt (Details)
Debt - Summary Of Borrowings (Details)
Debt - Summary Of Interest Expense (Details)
Description Of Business
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Components Of Intangible Assets (Details)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Future Amortization Expense (Details)
Goodwill And Intangible Assets - Schedule Of Goodwill (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Summary Of Operating Loss Carryforwards (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Schedule Of Maturities Of Lease Liabilities (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (Details)
Property And Equipment - Schedule Of Property And Equipment (Details)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Details)
Segment Information - Schedule Of Long-Lived Assets By Geographic Areas (Details)
Segment Information - Schedule Of Revenue By Geographic Areas (Details)
Segment Information - Schedule Of Segment Reporting Information (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Summary Of Rsu Activity (Details)
Stock-Based Compensation - Summary Of Stock Option Activity (Details)
Subsequent Events
Subsequent Events (Details)

Material Contracts, Statements, Certifications & more

Digital Turbine, Inc. provided additional information to their SEC Filing as exhibits

Ticker: APPS
CIK: 317788
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-22-002020
Submitted to the SEC: Tue Feb 08 2022 5:12:17 PM EST
Accepted by the SEC: Tue Feb 08 2022
Period: Friday, December 31, 2021
Industry: Patent Owners And Lessors

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