Digital Turbine (APPS) Financials

$4.04 +0.05 (+1.25%)

Closing price 05/8/2026 04:00 PM Eastern

Extended Trading

$3.99 -0.05 (-1.24%)

As of 05/8/2026 07:39 PM Eastern

Annual Income Statements for Digital Turbine

This table shows Digital Turbine's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-25	-28	-24	-53	-6.01	14	55	36	17	-420	-92
Consolidated Net Income / (Loss)	-25	-28	-24	-103	-6.01	14	55	36	17	-420	-92
Net Income / (Loss) Continuing Operations	-25	-24	-19	-20	-4.30	14	55	36	17	-420	-92
Total Pre-Tax Income	-24	-24	-19	-21	-3.83	3.91	42	44	22	-405	-88
Total Operating Income	-24	-23	-17	-5.81	3.45	13	59	92	46	-374	-54
Total Gross Profit	6.13	1.46	11	25	36	54	133	347	320	247	221
Total Revenue	28	22	40	75	104	139	314	748	666	544	491
Operating Revenue	28	22	40	75	104	139	314	748	666	544	491
Total Cost of Revenue	22	21	29	99	68	85	181	400	346	297	270
Operating Cost of Revenue	22	21	29	99	68	85	181	400	346	297	270
Total Operating Expenses	30	24	28	31	32	40	73	255	274	622	275
Selling, General & Admin Expense	19	16	15	15	13	17	34	139	154	170	174
Marketing Expense	2.93	2.91	4.18	6.09	8.21	11	19	63	63	61	62
Research & Development Expense	7.91	4.88	9.28	9.65	11	12	20	53	56	54	39
Impairment Charge	-	-	-	-	-	-	-	0.00	0.00	337	0.00
Total Other Income / (Expense), net	-0.16	-1.74	-2.31	-15	-7.28	-9.31	-17	-48	-24	-31	-34
Interest Expense	0.23	1.72	2.92	3.85	1.55	0.00	1.46	8.50	23	31	35
Other Income / (Expense), net	0.07	-0.03	0.61	-11	-5.73	-9.35	-16	-40	-0.80	0.15	0.99
Income Tax Expense	0.75	0.21	-0.14	-0.95	0.47	-10	-13	8.40	5.15	15	4.24
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	0.00	0.00	0.02	0.20	-0.22	0.00
Basic Earnings per Share	($0.63)	($0.46)	($0.36)	($0.75)	($0.08)	$0.17	$0.62	$0.37	$0.17	($4.16)	($0.89)
Weighted Average Basic Shares Outstanding	38.97M	61.76M	66.51M	70.26M	77.44M	84.59M	88.51M	95.20M	98.78M	100.98M	103.75M
Diluted Earnings per Share	($0.63)	($0.46)	($0.36)	($0.75)	($0.08)	$0.16	$0.57	$0.35	$0.16	($4.16)	($0.89)
Weighted Average Diluted Shares Outstanding	38.97M	61.76M	66.51M	70.26M	77.44M	89.56M	96.15M	102.64M	101.82M	100.98M	103.75M
Weighted Average Basic & Diluted Shares Outstanding	38.97M	61.76M	66.51M	70.26M	77.44M	87.33M	93.32M	98.39M	99.99M	102.51M	106.98M

This table shows Digital Turbine's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	6/30/2022	9/30/2022	12/31/2022	6/30/2023	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	15	12	4.02	-8.18	-161	-14	-25	-25	-23
Consolidated Net Income / (Loss)	15	12	4.06	-8.40	-161	-14	-25	-25	-23
Net Income / (Loss) Continuing Operations	15	12	4.06	-8.40	-161	-14	-25	-25	-23
Total Pre-Tax Income	20	16	2.91	-9.94	-162	-17	-23	-24	-21
Total Operating Income	24	21	9.80	-4.72	-153	-9.27	-16	-14	-13
Total Gross Profit	92	89	80	67	66	64	54	54	56
Total Revenue	189	175	162	146	143	143	118	119	135
Operating Revenue	189	175	162	146	143	143	118	119	135
Total Cost of Revenue	96	86	83	79	78	79	64	65	79
Operating Cost of Revenue	96	86	83	79	78	79	64	65	79
Total Operating Expenses	68	68	70	72	218	73	70	67	68
Selling, General & Admin Expense	38	37	39	40	41	45	44	42	43
Marketing Expense	16	15	16	16	16	14	16	16	15
Research & Development Expense	14	15	14	16	14	13	11	9.43	10
Impairment Charge	-	0.00	0.00	-	147	0.00	-	0.00	0.00
Total Other Income / (Expense), net	-4.34	-5.20	-6.89	-5.22	-9.58	-7.64	-7.32	-10	-7.97
Interest Expense	4.08	5.23	6.91	7.39	7.84	7.67	8.25	9.23	8.45
Other Income / (Expense), net	-0.26	0.03	0.03	2.17	-1.73	0.03	0.93	-0.81	0.48
Income Tax Expense	5.14	4.18	-1.15	-1.54	-0.71	-2.85	1.75	1.40	2.41
Net Income / (Loss) Attributable to Noncontrolling Interest	0.04	0.04	0.04	-0.22	0.00	0.00	0.00	0.00	0.00
Basic Earnings per Share	$0.15	$0.12	$0.04	($0.08)	($1.61)	($0.14)	($0.25)	($0.24)	($0.22)
Weighted Average Basic Shares Outstanding	97.82M	98.89M	99.11M	99.88M	100.60M	101.38M	102.40M	103.04M	104.15M
Diluted Earnings per Share	$0.15	$0.11	$0.04	($0.08)	($1.61)	($0.14)	($0.25)	($0.24)	($0.22)
Weighted Average Diluted Shares Outstanding	102.69M	102.90M	103.35M	99.88M	100.60M	101.38M	102.40M	103.04M	104.15M
Weighted Average Basic & Diluted Shares Outstanding	98.84M	99.02M	99.20M	100.52M	101.31M	102.02M	102.78M	103.73M	105.01M

This table details how cash moves in and out of Digital Turbine's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Change in Cash & Equivalents	-15	4.16	-4.75	6.57	-1.99	11	9.46	96	-50	-44	7.68
Net Cash From Operating Activities	-15	-7.07	-6.66	6.97	1.27	31	63	85	113	29	12
Net Cash From Continuing Operating Activities	-15	-12	-11	7.29	4.97	34	63	85	113	29	12
Net Income / (Loss) Continuing Operations	-25	-24	-19	-20	-4.30	14	55	36	17	-420	-92
Consolidated Net Income / (Loss)	-25	-24	-	-	-	14	55	36	17	-420	-92
Depreciation Expense	2.11	7.87	2.61	2.66	2.77	2.34	7.11	57	81	84	83
Non-Cash Adjustments To Reconcile Net Income	7.12	5.95	4.86	5.06	3.35	4.37	-7.36	25	39	375	36
Changes in Operating Assets and Liabilities, net	0.89	-1.37	-0.84	18	2.36	13	8.16	-33	-24	-9.25	-15
Net Cash From Investing Activities	-0.88	-0.67	-0.60	-2.13	-2.31	-47	-38	-172	-35	-44	-27
Net Cash From Continuing Investing Activities	-0.88	-0.67	-0.42	-1.99	-2.31	-47	-38	-172	-35	-44	-27
Purchase of Property, Plant & Equipment	-2.19	-1.55	-1.42	-1.99	-2.31	-4.85	-9.20	-23	-24	-24	-27
Acquisitions	-	-	-	-	0.00	-42	-29	-149	-2.71	0.07	0.00
Sale and/or Maturity of Investments	-	0.88	-	-	-	-	-	-	-8.50	-20	0.00
Net Cash From Financing Activities	0.51	12	2.63	1.74	-0.92	26	-15	185	-128	-29	23
Net Cash From Continuing Financing Activities	0.51	12	2.63	1.74	-0.92	26	-15	185	-128	-29	23
Repayment of Debt	0.00	-0.60	-13	-1.44	-1.65	-0.31	-20	-57	-149	-77	-15
Payment of Dividends	-	-	-	-	-	-	-	0.00	0.00	-3.75	0.00
Issuance of Debt	0.00	0.00	16	2.50	0.00	20	15	549	26	50	38
Other Financing Activities, net	0.51	0.05	0.01	0.69	0.73	6.49	-9.75	-307	-4.69	1.59	-0.09
Cash Interest Paid	0.00	1.10	1.41	1.07	0.38	0.10	0.92	5.99	20	31	36
Cash Income Taxes Paid	-	-	-	-	0.00	0.00	0.93	1.72	5.66	1.53	7.15

This table details how cash moves in and out of Digital Turbine's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-6.63	-0.54	-5.48	-16	-0.42	-9.18	-16	2.12	-2.96	2.55	5.98
Net Cash From Operating Activities	28	33	16	1.32	27	12	-12	-1.35	-8.72	10	12
Net Cash From Continuing Operating Activities	28	33	16	1.32	27	12	-12	-1.35	-8.72	10	12
Net Income / (Loss) Continuing Operations	12	4.06	-14	-8.40	-161	-14	-237	-25	-25	-23	-19
Consolidated Net Income / (Loss)	12	4.06	-14	-8.40	-161	-14	-237	-25	-25	-23	-19
Depreciation Expense	20	20	21	21	21	21	21	21	19	20	23
Non-Cash Adjustments To Reconcile Net Income	10	8.35	10	10	160	7.93	197	8.29	9.21	8.83	9.77
Changes in Operating Assets and Liabilities, net	-14	0.66	-1.69	-22	8.46	-3.22	7.11	-5.30	-12	5.13	-2.56
Net Cash From Investing Activities	-6.52	-12	-9.76	-7.28	-7.00	-13	-17	-5.93	-7.48	-7.13	-6.94
Net Cash From Continuing Investing Activities	-6.52	-12	-9.76	-7.28	-7.00	-13	-17	-5.93	-7.48	-7.13	-6.94
Purchase of Property, Plant & Equipment	-6.52	-5.67	-5.26	-7.28	-7.00	-3.11	-6.90	-5.93	-7.48	-7.13	-6.94
Net Cash From Financing Activities	-27	-25	-12	-8.95	-20	-10	9.98	9.97	13	-0.13	0.04
Net Cash From Continuing Financing Activities	-27	-25	-12	-8.95	-20	-10	9.98	9.97	13	-0.13	0.04
Other Financing Activities, net	-0.93	-0.12	0.42	-0.20	1.89	-0.08	-0.03	-0.03	-0.03	-0.06	0.04
Cash Interest Paid	4.07	5.50	7.28	6.81	8.77	7.29	7.84	8.10	10	9.02	7.99
Cash Income Taxes Paid	0.63	2.84	1.74	0.44	-	0.09	0.99	0.70	-	0.86	5.59

This table presents Digital Turbine's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Total Assets	123	122	108	87	83	184	260	1,459	1,267	866	813
Total Current Assets	20	30	24	40	37	58	97	411	266	242	243
Cash & Equivalents	7.07	11	6.15	13	11	22	31	127	76	34	40
Accounts Receivable	12	18	11	17	23	33	62	263	178	191	182
Prepaid Expenses	0.64	0.58	0.45	0.90	1.33	3.65	4.28	21	8.59	7.70	6.92
Current Deferred & Refundable Income Taxes	0.08	-	-	-	-	-	-	-	-	4.73	8.29
Other Current Assets	0.11	0.21	0.12	-	-	-	-	-	3.73	5.29	5.71
Plant, Property, & Equipment, net	0.61	1.78	2.01	2.76	3.43	8.18	13	31	39	46	47
Total Noncurrent Assets	102	91	82	44	42	117	150	1,017	961	577	523
Goodwill	77	77	42	42	42	69	80	560	562	220	222
Intangible Assets	25	12	2.65	1.23	0.00	44	53	441	380	314	258
Other Noncurrent Operating Assets	-	-	-	-	0.00	4.24	3.50	16	20	44	44
Total Liabilities & Shareholders' Equity	123	122	108	87	83	184	260	1,459	1,267	866	813
Total Liabilities	31	40	46	59	47	107	115	942	659	652	659
Total Current Liabilities	24	39	31	46	38	83	111	385	221	236	223
Accounts Payable	8.12	15	12	20	15	32	35	168	119	159	140
Accrued Expenses	6.83	9.62	3.01	8.23	16	19	46	95	69	34	35
Current Employee Benefit Liabilities	2.18	1.35	0.52	2.97	2.44	4.31	9.82	29	11	7.21	7.50
Other Current Liabilities	3.00	2.15	1.04	1.14	0.83	2.57	5.63	81	21	36	40
Total Noncurrent Liabilities	7.09	0.82	15	13	8.20	24	4.11	557	438	416	436
Long-Term Debt	7.09	0.00	9.69	3.87	0.00	19	0.00	521	411	383	409
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	0.00	20	14	20	16
Other Noncurrent Operating Liabilities	0.00	0.82	4.99	8.66	8.20	5.24	4.11	16	14	12	11
Commitments & Contingencies	-	-	-	-	-	-	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	92	82	62	28	36	77	145	516	607	214	154
Total Preferred & Common Equity	92	82	62	28	36	77	145	515	605	214	154
Preferred Stock	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10
Total Common Equity	91	82	62	28	36	77	145	514	605	214	154
Common Stock	277	295	300	318	333	360	373	746	822	858	893
Retained Earnings	-185	-213	-237	-290	-296	-282	-227	-192	-175	-595	-687
Accumulated Other Comprehensive Income / (Loss)	-0.05	-0.20	-0.32	-0.33	-0.36	-0.59	-0.90	-39	-42	-49	-51
Other Equity Adjustments	-	-	-	-	-	-	-	-	-0.07	-0.07	-0.07

This table presents Digital Turbine's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	6/30/2022	9/30/2022	12/31/2022	6/30/2023	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024
Total Assets	1,402	1,374	1,353	1,261	1,091	1,107	860	844	840
Total Current Assets	373	365	343	278	270	287	253	244	254
Cash & Equivalents	89	83	79	59	58	49	36	33	35
Accounts Receivable	258	256	231	204	196	217	198	192	200
Prepaid Expenses	25	26	32	15	16	21	6.88	7.09	6.88
Other Current Assets	-	-	-	-	-	-	12	12	12
Plant, Property, & Equipment, net	34	37	39	42	45	44	46	48	50
Total Noncurrent Assets	995	972	971	942	776	776	561	552	536
Goodwill	555	548	560	559	409	411	220	221	221
Intangible Assets	427	408	395	363	345	331	298	286	270
Other Noncurrent Operating Assets	13	16	16	21	22	34	43	46	45
Total Liabilities & Shareholders' Equity	1,402	1,374	1,353	1,261	1,091	1,107	860	844	840
Total Liabilities	824	788	745	663	643	661	664	662	676
Total Current Liabilities	316	313	289	228	245	269	240	224	240
Accounts Payable	174	172	154	138	140	160	171	148	148
Accrued Expenses	86	79	75	50	55	66	26	30	34
Current Employee Benefit Liabilities	17	15	16	10	8.63	7.52	6.90	7.41	8.48
Other Current Liabilities	39	47	43	30	41	35	36	39	50
Total Noncurrent Liabilities	508	476	456	434	398	392	424	438	436
Long-Term Debt	473	447	422	406	384	374	394	408	408
Noncurrent Deferred & Payable Income Tax Liabilities	22	17	19	16	2.82	4.66	18	17	15
Other Noncurrent Operating Liabilities	13	12	15	13	12	14	12	13	13
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	578	586	608	599	448	446	196	182	164
Total Preferred & Common Equity	576	584	606	599	448	446	196	182	164
Preferred Stock	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10
Total Common Equity	576	584	606	599	448	446	196	182	163
Common Stock	798	803	811	831	843	851	867	876	884
Retained Earnings	-177	-165	-161	-183	-345	-359	-620	-645	-669
Treasury Stock	-0.07	-0.07	-0.07	-0.07	-0.07	-0.07	-	-	-0.07
Accumulated Other Comprehensive Income / (Loss)	-45	-54	-44	-49	-50	-46	-50	-48	-52

This table displays calculated financial ratios and metrics derived from Digital Turbine's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021
Period end date	3/31/2014	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	15.77%	-21.24%	80.70%	85.92%	38.55%	33.93%	126.06%
EBITDA Growth	-45.90%	-58.41%	33.91%	12.08%	-4.93%	109.77%	384.56%	713.26%
EBIT Growth	-37.36%	-51.40%	4.63%	27.47%	-2.64%	86.41%	269.33%	1,020.91%
NOPAT Growth	-40.76%	-52.91%	5.07%	24.69%	65.77%	159.30%	1,903.50%	60.69%
Net Income Growth	0.00%	-31.77%	-13.73%	13.44%	-322.66%	94.14%	331.28%	294.85%
EPS Growth	0.00%	7.35%	26.98%	21.74%	-108.33%	89.33%	300.00%	256.25%
Operating Cash Flow Growth	0.00%	-85.73%	51.25%	5.73%	204.53%	-81.78%	2,372.58%	100.13%
Free Cash Flow Firm Growth	-39.38%	-485.14%	98.71%	2,524.30%	-70.81%	-109.52%	-2,614.56%	303.73%
Invested Capital Growth	137.08%	767.44%	-15.25%	-53.83%	-35.64%	13.74%	264.83%	29.56%
Revenue Q/Q Growth	0.00%	408.68%	-69.82%	44.12%	200.92%	6.40%	9.61%	21.61%
EBITDA Q/Q Growth	-542.55%	-563.22%	51.89%	26.98%	10.48%	1,682.72%	214.70%	60.34%
EBIT Q/Q Growth	0.00%	-404.95%	23.66%	4.43%	-14.63%	-2,717.28%	171.34%	37.46%
NOPAT Q/Q Growth	0.00%	-407.20%	23.82%	15.73%	-77.37%	1,902.91%	464.77%	32.28%
Net Income Q/Q Growth	0.00%	-434.64%	11.17%	-4.74%	-380.18%	93.11%	305.14%	42.02%
EPS Q/Q Growth	0.00%	-425.00%	4.17%	-2.86%	-134.38%	84.31%	260.00%	35.71%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.70%
Free Cash Flow Firm Q/Q Growth	-48.07%	-5,666.18%	98.61%	1,002.88%	2,894.03%	-102.11%	-309.53%	456.86%
Invested Capital Q/Q Growth	-5.74%	841.78%	-2.52%	-48.35%	-65.51%	-3.00%	292.56%	31.84%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	32.15%	21.70%	6.56%	28.00%	33.52%	34.34%	38.69%	42.28%
EBITDA Margin	-55.65%	-76.15%	-63.90%	-31.09%	-17.55%	1.24%	4.48%	16.11%
Operating Margin	-63.61%	-84.02%	-101.27%	-42.21%	-7.77%	3.33%	9.52%	18.88%
EBIT Margin	-64.03%	-83.74%	-101.40%	-40.70%	-22.47%	-2.20%	2.79%	13.81%
Profit (Net Income) Margin	-76.64%	-87.24%	-125.98%	-60.35%	-137.19%	-5.80%	10.02%	17.50%
Tax Burden Percent	107.04%	103.13%	115.46%	125.84%	496.67%	156.80%	355.95%	131.12%
Interest Burden Percent	111.83%	101.03%	107.61%	117.83%	122.93%	167.97%	101.06%	96.64%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-265.69%	-31.12%
Return on Invested Capital (ROIC)	-139.65%	-31.38%	-17.98%	-20.20%	-13.32%	9.44%	76.43%	68.17%
ROIC Less NNEP Spread (ROIC-NNEP)	-53.17%	55.05%	-1,528.54%	72.61%	674.20%	139.79%	-469.48%	-805.58%
Return on Net Nonoperating Assets (RNNOA)	28.61%	-8.22%	-14.27%	-13.43%	-215.30%	-28.21%	-52.01%	-18.85%
Return on Equity (ROE)	-111.04%	-39.60%	-32.26%	-33.63%	-228.61%	-18.77%	24.43%	49.32%
Cash Return on Invested Capital (CROIC)	-220.98%	-190.04%	-1.48%	53.45%	30.05%	-3.42%	-37.51%	42.42%
Operating Return on Assets (OROA)	-54.27%	-28.22%	-18.45%	-14.26%	-17.30%	-2.69%	2.90%	19.49%
Return on Assets (ROA)	-64.97%	-29.40%	-22.93%	-21.14%	-105.62%	-7.09%	10.42%	24.70%
Return on Common Equity (ROCE)	-110.38%	-39.54%	-32.22%	-33.58%	-228.10%	-18.71%	24.38%	49.28%
Return on Equity Simple (ROE_SIMPLE)	-56.76%	-26.93%	-34.07%	-39.11%	-370.60%	-16.53%	17.95%	37.82%
Net Operating Profit after Tax (NOPAT)	-11	-17	-16	-12	-4.07	2.41	48	78
NOPAT Margin	-44.53%	-58.81%	-70.89%	-29.55%	-5.44%	2.33%	34.83%	24.76%
Net Nonoperating Expense Percent (NNEP)	-86.48%	-86.43%	1,510.56%	-92.81%	-687.52%	-130.35%	545.91%	873.75%
Cost of Revenue to Revenue	67.85%	78.30%	93.44%	72.00%	132.96%	65.66%	61.31%	57.72%
SG&A Expenses to Revenue	55.67%	67.36%	72.82%	36.72%	20.23%	12.58%	12.40%	10.82%
R&D to Revenue	32.24%	27.98%	21.95%	23.09%	12.91%	10.50%	8.66%	6.42%
Operating Expenses to Revenue	95.76%	105.72%	107.83%	70.21%	41.29%	31.01%	29.17%	23.40%
Earnings before Interest and Taxes (EBIT)	-16	-24	-23	-16	-17	-2.28	3.86	43
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-14	-22	-14	-13	-13	1.28	6.21	51
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.30	1.39	0.89	1.01	5.12	7.48	4.99	53.28
Price to Tangible Book Value (P/TBV)	5.73	0.00	0.00	3.67	0.00	0.00	0.00	669.79
Price to Revenue (P/Rev)	4.45	4.50	3.30	1.56	1.89	2.62	2.78	24.64
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	27.77	140.78
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.60%	0.71%
Enterprise Value to Invested Capital (EV/IC)	7.91	1.38	0.89	1.77	5.59	9.56	4.11	59.98
Enterprise Value to Revenue (EV/Rev)	3.55	4.62	3.23	1.64	1.79	2.51	2.94	24.59
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	202.87	65.66	152.62
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	105.55	178.02
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	107.85	8.44	99.31
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	19.18	204.95	13.00	122.78
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	2.09	14.56	0.00	0.00	159.60
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.12	0.13	0.16	0.19	0.00	0.56	0.10
Long-Term Debt to Equity	0.00	0.08	0.00	0.16	0.14	0.00	0.24	0.00
Financial Leverage	-0.54	-0.15	0.01	-0.18	-0.32	-0.20	0.11	0.02
Leverage Ratio	1.71	1.35	1.41	1.59	2.16	2.65	2.34	2.00
Compound Leverage Factor	1.91	1.36	1.51	1.87	2.66	4.45	2.37	1.93
Debt to Total Capital	0.00%	10.46%	11.25%	13.50%	16.12%	0.00%	35.93%	9.12%
Short-Term Debt to Total Capital	0.00%	3.52%	11.25%	0.00%	4.38%	0.00%	20.62%	9.12%
Long-Term Debt to Total Capital	0.00%	6.94%	0.00%	13.50%	11.74%	0.00%	15.31%	0.00%
Preferred Equity to Total Capital	0.30%	0.10%	0.11%	0.14%	0.30%	0.28%	0.08%	0.06%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.70%	89.44%	88.64%	86.36%	83.58%	99.73%	63.99%	90.82%
Debt to EBITDA	0.00	-0.50	-0.73	-0.77	-0.41	0.00	6.99	0.29
Net Debt to EBITDA	0.00	-0.16	0.13	-0.26	0.59	0.00	3.50	-0.33
Long-Term Debt to EBITDA	0.00	-0.33	0.00	-0.77	-0.30	0.00	2.98	0.00
Debt to NOPAT	0.00	-0.64	-0.66	-0.82	-1.31	0.00	0.90	0.19
Net Debt to NOPAT	0.00	-0.21	0.11	-0.27	1.90	0.00	0.45	-0.21
Long-Term Debt to NOPAT	0.00	-0.43	0.00	-0.82	-0.95	0.00	0.38	0.00
Altman Z-Score	0.20	-0.10	-1.85	-2.47	-3.12	-0.36	0.69	40.69
Noncontrolling Interest Sharing Ratio	0.59%	0.16%	0.12%	0.14%	0.22%	0.31%	0.18%	0.09%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	2.31	0.85	0.76	0.77	0.86	0.97	0.71	0.88
Quick Ratio	2.26	0.80	0.74	0.55	0.64	0.88	0.66	0.83
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-17	-101	-1.30	31	9.18	-0.87	-24	48
Operating Cash Flow to CapEx	-3,771.50%	-661.50%	-456.36%	-469.96%	349.70%	54.84%	647.62%	682.26%
Free Cash Flow to Firm to Interest Expense	-9.30	-430.00	-0.76	10.77	2.38	-0.56	0.00	33.20
Operating Cash Flow to Interest Expense	-4.22	-61.97	-4.12	-2.28	1.81	0.82	0.00	43.16
Operating Cash Flow Less CapEx to Interest Expense	-4.33	-71.33	-5.02	-2.77	1.29	-0.67	0.00	36.83
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.85	0.34	0.18	0.35	0.77	1.22	1.04	1.41
Accounts Receivable Turnover	6.88	3.27	1.50	2.85	5.39	5.21	4.97	6.59
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	79.62	52.37	18.56	21.22	31.39	33.48	23.89	29.54
Accounts Payable Turnover	4.92	4.00	1.78	2.14	6.27	3.91	3.66	5.44
Days Sales Outstanding (DSO)	53.07	111.60	243.54	127.92	67.66	70.06	73.47	55.36
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	74.13	91.26	205.56	170.76	58.17	93.41	99.77	67.08
Cash Conversion Cycle (CCC)	-21.06	20.34	37.98	-42.84	9.49	-23.35	-26.30	-11.72
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	11	95	80	37	24	27	99	129
Invested Capital Turnover	3.14	0.53	0.25	0.68	2.45	4.05	2.19	2.75
Increase / (Decrease) in Invested Capital	6.33	84	-14	-43	-13	3.29	72	29
Enterprise Value (EV)	87	131	72	66	134	260	408	7,710
Market Capitalization	109	127	73	63	141	271	386	7,727
Book Value per Share	$1.00	$2.35	$1.24	$0.93	$0.37	$0.46	$0.89	$1.62
Tangible Book Value per Share	$0.58	($0.26)	($0.11)	$0.26	($0.21)	($0.08)	($0.41)	$0.13
Total Capital	33	102	93	72	33	36	121	160
Total Debt	0.00	11	10	9.69	5.32	0.00	43	15
Total Long-Term Debt	0.00	7.09	0.00	9.69	3.87	0.00	19	0.00
Net Debt	-22	3.42	-1.80	3.21	-7.73	-11	22	-17
Capital Expenditures (CapEx)	0.21	2.19	1.55	1.42	1.99	2.31	4.85	9.20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-6.43	-7.35	-10	-14	-18	-12	-21	-30
Debt-free Net Working Capital (DFNWC)	16	-0.08	1.12	-7.11	-5.21	-1.19	0.56	0.79
Net Working Capital (NWC)	16	-3.68	-9.31	-7.11	-6.65	-1.19	-24	-14
Net Nonoperating Expense (NNE)	7.84	8.03	12	12	98	8.42	34	23
Net Nonoperating Obligations (NNO)	-22	3.42	-1.80	-25	-3.76	-9.16	22	-17
Total Depreciation and Amortization (D&A)	2.04	2.14	8.34	3.86	3.68	3.56	2.35	7.21
Debt-free, Cash-free Net Working Capital to Revenue	-26.35%	-26.01%	-45.42%	-33.80%	-24.42%	-11.82%	-15.21%	-9.67%
Debt-free Net Working Capital to Revenue	63.82%	-0.28%	5.05%	-17.68%	-6.96%	-1.14%	0.40%	0.25%
Net Working Capital to Revenue	63.82%	-13.02%	-41.83%	-17.68%	-8.90%	-1.14%	-17.56%	-4.39%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.68)	($0.63)	($0.46)	($0.36)	($0.75)	($0.08)	$0.17	$0.62
Adjusted Weighted Average Basic Shares Outstanding	27.48M	38.97M	61.76M	66.51M	70.26M	77.44M	84.59M	88.51M
Adjusted Diluted Earnings per Share	($0.68)	($0.63)	($0.46)	($0.36)	($0.75)	($0.08)	$0.16	$0.57
Adjusted Weighted Average Diluted Shares Outstanding	27.48M	38.97M	61.76M	66.51M	70.26M	77.44M	89.56M	96.15M
Adjusted Basic & Diluted Earnings per Share	($0.68)	($0.63)	($0.46)	($0.36)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	27.48M	38.97M	61.76M	66.51M	70.26M	77.44M	87.33M	93.32M
Normalized Net Operating Profit after Tax (NOPAT)	-11	-17	-16	-12	-4.07	2.41	9.25	41
Normalized NOPAT Margin	-44.53%	-58.81%	-70.89%	-29.55%	-5.44%	2.33%	6.67%	13.22%
Pre Tax Income Margin	-71.60%	-84.60%	-109.11%	-47.96%	-27.62%	-3.70%	2.82%	13.35%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-8.45	-101.10	-13.15	-5.61	-4.36	-1.47	0.00	29.77
NOPAT to Interest Expense	-5.88	-71.01	-9.19	-4.07	-1.06	1.55	0.00	53.36
EBIT Less CapEx to Interest Expense	-8.56	-110.47	-14.05	-6.09	-4.88	-2.96	0.00	23.44
NOPAT Less CapEx to Interest Expense	-5.99	-80.38	-10.09	-4.56	-1.57	0.06	0.00	47.03
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

No quarterly metrics and ratios for Digital Turbine are available.

Financials Breakdown Chart

Key Financial Trends

Digital Turbine, Inc. (APPS) shows a mix of ongoing losses with improving cash flow characteristics in late 2024 through 2025. The latest quarters indicate stronger cash generation from operations and improving top-line momentum, but the balance sheet continues to carry a large negative retained earnings base and sizable debt. Below are the key trends distilled from the last four years of quarterly statements, focused on the most relevant items for retail investors.

Net cash from continuing operating activities turned positive in Q3 2025 and remained positive in Q4 2025 (Q3 2025: $10.443 million; Q4 2025: $11.508 million), despite ongoing net losses. This suggests improving cash-generation ability from core operations.
Q3 2025 revenue rose to $134.637 million from Q2 2025’s $118.728 million, showing sequential top-line growth that could support future cash flow expansion.
Non-cash addbacks were sizable in Q4 2025, with depreciation expense at $23.126 million and other non-cash adjustments totaling $9.772 million, which help reconcile net income with cash flow.
In Q4 2025, free cash flow (approximate) was positive, with cash from operations of about $11.5 million minus roughly $6.9 million in capital expenditures, yielding roughly $4.6 million of free cash flow for the quarter.
Net income declined less in Q3 2025 than in Q2 2025 (continuing operations: -$23.131 million vs. -$24.986 million), indicating a narrowing loss trend even as revenue remains below break-even profitability.
Debt issuance provided incremental liquidity in prior periods (e.g., Q2 2025 Issuance of Debt around $21.0 million; Q3 2025 Issuance of Debt around $8.0 million), which can support ongoing working capital needs during growth-phase investments.

Long-term debt remains substantial and largely flat quarter-to-quarter (Q3 2025 Long-Term Debt about $408.15 million vs. Q2 2025 about $407.62 million), indicating a heavy leverage base that may constrain future upside if cash flow does not improve further.
Retained earnings remain deeply negative (Q3 2025: -$620.50 million; Q2 2025: -$645.49 million), reflecting ongoing equity erosion from cumulative losses.

Net income continuing operations is negative across the recent quarters (Q3 2025: -$23.13 million; Q2 2025: -$24.99 million; Q1 2025: -$25.16 million), highlighting persistent profitability challenges.
Net cash from operating activities was negative in Q2 2025 (-$8.72 million) and Q1 2025 (-$1.35 million), signaling inconsistent quarterly cash-flow generation even as revenue trends improve.

05/09/26 04:19 PM ETAI Generated. May Contain Errors.

Digital Turbine Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Digital Turbine's fiscal year ends in March. Their fiscal year 2025 ended on March 31, 2025.

Digital Turbine's net income appears to be on an upward trend, with a most recent value of -$92.10 million in 2025, rising from -$24.65 million in 2015. The previous period was -$420.45 million in 2024. See where experts think Digital Turbine is headed by visiting Digital Turbine's forecast page.

Digital Turbine's total operating income in 2025 was -$54.08 million, based on the following breakdown:

Total Gross Profit: $220.68 million
Total Operating Expenses: $274.75 million

Over the last 10 years, Digital Turbine's total revenue changed from $28.25 million in 2015 to $490.51 million in 2025, a change of 1,636.2%.

Digital Turbine's total liabilities were at $658.90 million at the end of 2025, a 1.1% increase from 2024, and a 2,022.6% increase since 2015.

In the past 10 years, Digital Turbine's cash and equivalents has ranged from $6.15 million in 2017 to $126.77 million in 2022, and is currently $40.08 million as of their latest financial filing in 2025.

Over the last 7 years, Digital Turbine's book value per share changed from 1.00 in 2014 to 1.62 in 2021, a change of 62.4%.

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Financial statements for NASDAQ:APPS last updated on 6/17/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Digital Turbine (APPS) Financials

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Digital Turbine (APPS) Financials

Annual Income Statements for Digital Turbine

Quarterly Income Statements for Digital Turbine

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Quarterly Cash Flow Statements for Digital Turbine

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Quarterly Balance Sheets for Digital Turbine

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Quarterly Metrics And Ratios for Digital Turbine

Financials Breakdown Chart

Key Financial Trends

Digital Turbine Financials - Frequently Asked Questions

When does Digital Turbine's financial year end?

How has Digital Turbine's net income changed over the last 10 years?

What is Digital Turbine's operating income?

How has Digital Turbine's revenue changed over the last 10 years?

How much debt does Digital Turbine have?

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How has Digital Turbine's book value per share changed over the last 7 years?

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