Business
Digital Turbine Reports Fiscal 2025 First Quarter Financial Results
First Quarter Revenue Totaled $118.0 Million First Quarter GAAP Net Loss of $25.2 Million, or GAAP EPS of ($0.25); First Quarter Non-GAAP Adjusted Net Income1
About this update from Digital Turbine, Inc.
[{"type":"text","content":"First Quarter Revenue Totaled $118.0 Million\nFirst Quarter GAAP Net Loss of $25.2 Million, or GAAP EPS of ($0.25); First Quarter Non-GAAP Adjusted Net Income1 of $7.3 Million and Non-GAAP Adjusted EPS1 of $0.07\nFirst Quarter Non-GAAP Adjusted EBITDA2 Totaled $14.5 Million\nAUSTIN, Texas, Aug. 7, 2024 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal first quarter ended June 30, 2024.\nRecent Financial Highlights:\nFiscal first quarter of 2025 revenue totaled $118.0 million, representing an increase of 5% quarter-over-quarter as compared to the fiscal fourth quarter of 2024, and a decline of 19% year-over-year as compared to the fiscal first quarter of 2024.GAAP net loss for the fiscal first quarter of 2025 was $25.2 million, or ($0.25) per share, as compared to GAAP net loss for the fiscal first quarter of 2024 of $8.4 million, or ($0.08) per share. Non-GAAP adjusted net income1 for the fiscal first quarter of 2025 was $7.3 million, or $0.07 per share, as compared to Non-GAAP adjusted net income1 of $18.2 million, or $0.18 per share, in the fiscal first quarter of 2024.Non-GAAP adjusted EBITDA2 for the fiscal first quarter of 2025 was $14.5 million, representing an increase of 18% quarter-over-quarter as compared to the fiscal fourth quarter of 2024, and a decline of 46% year-over-year as compared to Non-GAAP adjusted EBITDA2 of $27.0 million in the fiscal first quarter of 2024.\"The first quarter marked an encouraging start to the new fiscal year, returning the Company to quarterly sequential growth in revenue and EBITDA,\" said CEO Bill Stone. \"Despite continuing sluggish handset upgrade rates in the U.S., we grew our On Device Solutions revenue 3% sequentially largely on the strength of newly added international devices and higher average revenue-per-device. Our App Growth Platform revenue increased 11% sequentially, attributable to stronger demand for our higher-performance Brand and Exchange offerings. Top-line growth and continued expense discipline drove expansion in our profit margins, as evidenced by a 135-basis point sequential increase in our EBITDA margin during the quarter. We expect this top-line growth and margin expansion to continue in the second half of the calendar year, as we continue to see growing interest in, and real demand for, our uniquely-designed platfo...