Business
Digital Turbine Reports Fiscal 2024 First Quarter Financial Results
First Quarter Revenue Totaled $146.4 Million First Quarter GAAP Net Loss of $8.4 Million and GAAP EPS of ($0.08); First Quarter Non-GAAP Adjusted Net Income1
About this update from Digital Turbine, Inc.
[{"type":"text","content":"First Quarter Revenue Totaled $146.4 Million\nFirst Quarter GAAP Net Loss of $8.4 Million and GAAP EPS of ($0.08); First Quarter Non-GAAP Adjusted Net Income1 of $18.2 Million and Non-GAAP Adjusted EPS of $0.18\nFirst Quarter Non-GAAP Adjusted EBITDA2 Totaled $27.0 Million\nAUSTIN, Texas, Aug. 8, 2023 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal first quarter ended June 30, 2023.\nRecent Financial Highlights:\nFiscal first quarter of 2024 revenue totaled $146.4 million, representing a 4% sequential increase as compared to the fiscal fourth quarter of 2023 and a 22% decline year-over-year as compared to the fiscal first quarter of 2023.GAAP net loss for the fiscal first quarter of 2024 was $8.4 million, or ($0.08) per share, as compared to GAAP net income for the fiscal first quarter of 2023 of $15.0 million, or $0.15 per share. Non-GAAP adjusted net income1 for the fiscal first quarter of 2024 was $18.2 million, or $0.18 per share, as compared to Non-GAAP adjusted net income1 of $38.7 million, or $0.38 per share, in the fiscal first quarter of 2023.Non-GAAP adjusted EBITDA2 for the fiscal first quarter of 2024 was $27.0 million, representing a 17% sequential increase as compared to the fiscal fourth quarter of 2023 and a 48% decline year-over-year as compared to the fiscal first quarter of 2023.\"Our first-quarter results represented an encouraging start to the new fiscal year,\" said Bill, Stone, CEO. \"Both revenue and EBITDA grew quarter-over-quarter, on the strength of improved performance across the business. Operationally, we are sharpening our execution with upgrades of our core ad-tech and on-device capabilities that are enhancing overall platform performance. We are also continuing to invest in our future and are making noteworthy progress with respect to market adoption of several key growth initiatives, such as SingleTap and DT Hub, that we believe are ideally positioned to capitalize on future emergent market opportunities that are expected to begin to contribute more significantly to our future growth.\"\nFiscal 2024 First Quarter Financial Results\nTotal revenue for the first quarter of fiscal 2024 was $146.4 million. Total On Device Solutions revenue before intercompany eliminations was $98.3 million. Total App Growth Platform revenue before intercompany eliminati...