Business
Digital Turbine Reports Fiscal 2020 First Quarter Results
AUSTIN, Texas, Aug. 5, 2019 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal first quarter ended June 30, 2019.
About this update from Digital Turbine, Inc.
[{"type":"text","content":"AUSTIN, Texas, Aug. 5, 2019 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal first quarter ended June 30, 2019. All operating results discussed below, except as otherwise specifically noted, refer only to the continuing operations of the Company, and all comparisons to prior periods have been adjusted to reflect only continuing operations. \nRecent Highlights:\nFiscal first quarter revenue was $30.6 million, representing 38% growth when compared to the fiscal first quarter of 2019. GAAP net loss for the fiscal first quarter was $1.7 million, or ($0.02) per share, as compared to GAAP net income of $1.5 million, or $0.02 per share for the fiscal first quarter of 2019. Non-GAAP adjusted net income1 for the fiscal first quarter was $4.2 million, or $0.05 per share, as compared to a Non-GAAP adjusted net loss of $0.6 million, or ($0.01) per share, in the fiscal first quarter of 2019. Non-GAAP adjusted EBITDA2 for the fiscal first quarter was $4.2 million, as compared to Non-GAAP adjusted EBITDA of $0.2 million in the fiscal first quarter of 2019. GAAP cash provided by operating activities totaled $5.0 million in the fiscal first quarter. Non-GAAP free cash flow3 totaled $4.3 million in the fiscal fourth quarter. GAAP gross margin was 39% for the fiscal first quarter of 2020, as compared to a 29% GAAP gross margin in the fiscal first quarter of 2019. Non-GAAP adjusted gross margin4 was 40% for the fiscal first quarter of 2020, as compared to 31% in the fiscal first quarter of 2019. The Company has surpassed 290 million total devices with Ignite installed to date, including more than 30 million devices installed during the June quarter. U.S. revenue-per-device (\"RPD\") increased by more than 30% when compared to the fiscal first quarter of 2019, highlighting strengthening demand from advertisers for the Digital Turbine platform. The Company's cash balance was $16.2 million as of June 30, 2019, as compared to the March 31, 2019 balance of $10.9 million. The Company had zero total debt as of June 30, 2019. \"We are out of the gates strong as we begin our fiscal 2020,\" said Bill Stone, CEO. \"We have a lot of momentum, as not only did our results for the fiscal first quarter comfortably exceed our internal expectations driven largely by stronger revenue-per-device (\"RPD\") metrics during t...