Business
Digital Turbine Reports Fiscal 2023 Second Quarter Financial Results
Second Quarter Revenue Totaled $174.9 Million Second Quarter GAAP Net Income of $11.7 Million and GAAP EPS of $0.11; Second Quarter Non-GAAP Adjusted Net
About this update from Digital Turbine, Inc.
[{"type":"text","content":"Second Quarter Revenue Totaled $174.9 Million\nSecond Quarter GAAP Net Income of $11.7 Million and GAAP EPS of $0.11; Second Quarter Non-GAAP Adjusted Net Income1 of $35.0 Million and Non GAAP EPS of $0.34\nSecond Quarter Non-GAAP Adjusted EBITDA2 of $48.2 Million Increased 1% Year-Over-Year\nAUSTIN, Texas, Nov. 9, 2022 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal second quarter ended September 30, 2022.\nRecent Financial Highlights:\nFiscal second quarter of 2023 revenue totaled $174.9 million representing a 7% decline year-over-year as compared to the fiscal second quarter of 2022.GAAP net income for the fiscal second quarter of 2023 was $11.7 million, or $0.11 per share, as compared to a GAAP net loss for the fiscal second quarter of 2022 of $5.9 million, or ($0.06) per share. Non-GAAP adjusted net income1 for the fiscal second quarter of 2023 was $35.0 million, or $0.34 per share, as compared to Non-GAAP adjusted net income1 of $45.3 million, or $0.44 per share, in the fiscal second quarter of 2022.Non-GAAP adjusted EBITDA2 for the fiscal second quarter of 2023 was $48.2 million, representing an increase of 1% as compared to Non-GAAP adjusted EBITDA2 of $47.9 million in the fiscal second quarter of 2022. Non-GAAP adjusted EBITDA margin2 increased to 28% in the fiscal second quarter of 2023, representing an all-time high for the Company.\"In these challenging macroeconomic times, I was pleased that we continue to showcase our profitable business model and ability to expand margins in an inflationary environment,\" said Bill Stone, CEO. \"We managed to achieve financial results that exceeded the midpoints of our profitability guidance for the second quarter. Our fiscal second quarter adjusted EBITDA margin reached an all-time high of 28% during the second quarter, which is a testament to the relative efficiencies and inherent cash flow generation of our platform business model. We have now delivered more than three times the adjusted EBITDA in the past six quarters than we did in the previous six years combined.\"\nMr. Stone concluded, \"Beyond the stated financial performance, I want to also acknowledge the significant progress that we are continuing to make with respect to a number of key strategic initiatives, such as OneDT Integration, SingleTap and AppHub, that we expect ...