Business
Digital Turbine Reports Fiscal 2022 Second Quarter Financial Results
Second Quarter Revenue Totaled $310.2 Million, Representing Year-over-Year Growth of 338% on an As-Reported Basis and Year-over-Year Growth of 63% on a Pro
About this update from Digital Turbine, Inc.
[{"type":"text","content":"Second Quarter Revenue Totaled $310.2 Million, Representing Year-over-Year Growth of 338% on an As-Reported Basis and Year-over-Year Growth of 63% on a Pro Forma Basis\n Strong Top-Line Growth and Operating Leverage Continue to Drive Significant Growth in Earnings and Cash Flow\n Synergies Starting to be Realized as the Company's End-to-End Platform Exploits a Vastly Larger Addressable Market Opportunity\n\n\nAUSTIN, Texas, Nov. 2, 2021 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal second quarter ended September 30, 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 second 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.\nRecent Financial Highlights:\nFiscal second quarter of 2022 revenue totaled $310.2 million, representing a 338% increase year-over-year on an as-reported basis and a 63% increase year-over-year as compared to the comparable pro forma figure for the fiscal second quarter of 2021. GAAP net loss for the fiscal second quarter of 2022, inclusive of a $22.1 million fair value adjustment to the contingent acquisition-related earn-outs, was $5.9 million, or ($0.06) per share, as compared to GAAP net income of $0.4 million, or $0.00 per share for the fiscal second quarter of 2021. Non-GAAP adjusted net income1 for the fiscal second quarter of 2022 was $45.3 million, or $0.44 per share, as compared to Non-GAAP adjusted net income of $14.5 million, or $0.15 per share, in the fiscal second quarter of 2021. Non-GAAP adjusted EBITDA2 for the fiscal second quarter of 2022 was $47.9 million, representing growth of 191% as compared to Non-GAAP adjusted EBITDA of $16.5 million in the fiscal second quarter of 2021.\"I am pleased that we delivered record financial results in the second quarter, but even more pleased with how we ha...