Business
Digital Turbine Reports Fiscal 2021 First Quarter Results
Accelerated and Diversified Momentum Drove First Quarter Revenue of $59.0 Million, GAAP Net Income of $9.9 Million and Non-GAAP Adjusted EBITDA of $14.1
About this update from Digital Turbine, Inc.
[{"type":"text","content":"Accelerated and Diversified Momentum Drove First Quarter Revenue of $59.0 Million, GAAP Net Income of $9.9 Million and Non-GAAP Adjusted EBITDA of $14.1 Million\n Strong Revenue Growth and Operating Leverage Result in Record Earnings - First Quarter GAAP EPS of $0.11 and Non-GAAP Adjusted EPS of $0.13\n\n\nAUSTIN, Texas, Aug. 5, 2020 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal first quarter ended June 30, 2020. All operating results and historical comparisons discussed below, except as otherwise specifically noted, refer only to the continuing operations of the Company.\nRecent Financial Highlights:\nFiscal first quarter revenue was $59.0 million, representing 93% growth when compared to the fiscal first quarter of 2020. GAAP net income for the fiscal first quarter was $9.9 million, or $0.11 per share, as compared to a GAAP net loss of $1.7 million, or ($0.02) per share for the fiscal first quarter of 2020. Non-GAAP adjusted net income1 for the fiscal first quarter was $12.5 million, or $0.13 per share, as compared to Non-GAAP adjusted net income of $4.2 million, or $0.05 per share, in the fiscal first quarter of 2020. Non-GAAP adjusted EBITDA2 for the fiscal first quarter was $14.1 million, representing growth of 235% as compared to Non-GAAP adjusted EBITDA of $4.2 million in the fiscal first quarter of 2020. GAAP gross margin was 44% for the fiscal first quarter of 2021, as compared to 39% in the fiscal first quarter of 2020. Non-GAAP adjusted gross margin4 was 45% for the fiscal first quarter of 2021, as compared to 40% in the fiscal first quarter of 2020. The Company's Application Media software was installed on more than 43 million devices during the fiscal first quarter, and now been installed on more than 450 million devices to date.\"Our fiscal first quarter was a breakout quarter for Digital Turbine\", said Bill Stone, CEO. \"Positive momentum trends throughout the business drove better-than-expected results and have the Company well-positioned for continued strong performance going forward. Advertisers are actively allocating spend toward platforms that offer directly measurable results, and our business is a clear beneficiary of this trend, particularly given the higher conversion rates generated by our platform as businesses and consumers everywhere are increasingly...