Business
Digital Turbine Reports Fiscal 2023 Fourth Quarter and Fiscal Year 2023 Financial Results
Fourth Quarter Revenue Totaled $140.1 Million and Fiscal 2023 Revenue Totaled $665.9 Million Fiscal 2023 GAAP Net Income of $16.9 Million and GAAP EPS of
About this update from Digital Turbine, Inc.
[{"type":"text","content":"Fourth Quarter Revenue Totaled $140.1 Million and Fiscal 2023 Revenue Totaled $665.9 Million\nFiscal 2023 GAAP Net Income of $16.9 Million and GAAP EPS of $0.16; Fiscal 2023 Non-GAAP Adjusted Net Income1 of $117.4 Million and Non GAAP EPS of $1.15\nFiscal 2023 Non-GAAP Adjusted EBITDA2 of $163.2 Million\nAUSTIN, Texas, May 24, 2023 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal fourth quarter ended March 31, 2023.\nRecent Financial Highlights:\nFiscal fourth quarter of 2023 revenue totaled $140.1 million representing a 24% decline year-over-year as compared to the fiscal fourth quarter of 2022.GAAP net loss for the fiscal fourth quarter of 2023 was $13.9 million, or ($0.14) per share, as compared to GAAP net income for the fiscal fourth quarter of 2022 of $20.1 million, or $0.19 per share. Non-GAAP adjusted net income1 for the fiscal fourth quarter of 2023 was $13.6 million, or $0.14 per share, as compared to Non-GAAP adjusted net income1 of $41.0 million, or $0.39 per share, in the fiscal fourth quarter of 2022.GAAP net income for fiscal year 2023 was $16.9 million, or $0.16 per share, as compared to GAAP net income for fiscal year 2022 of $35.6 million, or $0.35 per share. Non-GAAP adjusted net income1 for fiscal year 2023 was $117.4 million, or $1.15 per share, as compared to Non-GAAP adjusted net income1 for fiscal year 2022 of $170.6 million, or $1.66 per share.Non-GAAP adjusted EBITDA2 for the fiscal fourth quarter of 2023 was $23.1 million, as compared to Non-GAAP adjusted EBITDA2 for the fiscal fourth quarter of 2022 of $50.4 million. Non-GAAP adjusted EBITDA2 for fiscal year 2023 was $163.2 million, as compared to Non-GAAP adjusted EBITDA2 for fiscal year 2022 of $195.2 million.\"We begin fiscal 2024 feeling increasingly excited about the future of our business,\" said Bill Stone, CEO. \"Macro headwinds have adversely impacted overall ad spending in recent quarters, but we are starting to see stabilization and renewed confidence among advertisers, which helped us to sign several notable strategic demand partnerships in the March quarter. Meanwhile, we have made significant progress with respect to several of our key growth initiatives at Digital Turbine. We believe that we have the innovative new solutions, such as the DT Hub and SingleTap, for which there is growing dema...