Business
Digital Turbine Reports Fiscal 2022 First Quarter Financial Results
First Quarter Revenue Totaled $212.6 Million, Inclusive of Partial Acquisition Contributions; Pro Forma Revenue of $292.0 Million Represented 104%
About this update from Digital Turbine, Inc.
[{"type":"text","content":"First Quarter Revenue Totaled $212.6 Million, Inclusive of Partial Acquisition Contributions; Pro Forma Revenue of $292.0 Million Represented 104% Year-over-Year Growth\n Greater-than-Expected Profit Driven by Accelerating Organic Revenue Growth and Scaling Operating Leverage\n Completion of AdColony and Fyber Transactions During the Quarter Empower Differentiated Full-Stack, End-to-End Platform Capabilities and Strategically Position the Company for Significantly Larger Addressable Market Opportunity\n\n\nAUSTIN, Texas, Aug. 9, 2021 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal first quarter ended June 30, 2021. 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. The Company completed the acquisitions of AdColony Holdings AS and Fyber N.V. on April 29 and May 25, 2021, respectively. Therefore, the actual reported results discussed below, except as otherwise specifically noted, reflect only the partial contributions of those acquired businesses beginning on the dates the acquisitions closed. 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 first quarters of fiscal 2021 and fiscal 2022. 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.\nRecent Financial Highlights:\nFiscal first quarter of 2022 revenue totaled $212.6 million. On a pro forma basis, as if both Fyber and AdColony were owned for the full quarter, total consolidated pro forma revenue for the fiscal first quarter of 2022 was $292.0 million, representing a 104% increase year-over-year as compared to the comparable pro forma figure for the fiscal first quarter of 2021. GAAP net income for the fiscal first quarter of 2022 was $14.3 million, or $0.14 per share, as compared to GAAP net income of $9.9 million, or $0.11 per share for the fiscal firs...