Business
Digital Turbine Reports Fourth Quarter and Fiscal Full Year 2019 Results
AUSTIN, Texas, June 3, 2019 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal full year and quarter ended March
About this update from Digital Turbine, Inc.
[{"type":"text","content":"AUSTIN, Texas, June 3, 2019 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal full year and quarter ended March 31, 2019. All operating results discussed below, except as otherwise specifically noted, refer only to the continuing operations of the Company, and all comparisons to prior periods have been adjusted to reflect only continuing operations. \nRecent Highlights:\nFiscal fourth quarter revenue was $27.2 million, representing 30% growth when compared to the fiscal fourth quarter of 2018. Fiscal year 2019 revenue totaled $103.6 million, up 39% as compared to fiscal year 2018 revenue. GAAP net loss for the fiscal fourth quarter was $6.8 million, or ($0.09) per share, as compared to a GAAP net loss of $4.2 million, or ($0.06) per share for the fiscal fourth quarter of 2018. Non-GAAP adjusted net income1 for the fiscal fourth quarter was $2.4 million, or $0.03 per share, as compared to a Non-GAAP adjusted net loss of $0.6 million, or ($0.01) per share in the fourth quarter of fiscal 2018. Non-GAAP adjusted EBITDA2 for the fiscal fourth quarter was $3.3 million, as compared to Non-GAAP adjusted EBITDA of approximately zero in the fourth quarter of fiscal 2018. Non-GAAP adjusted EBITDA for full fiscal year 2019 totaled $8.9 million. GAAP cash provided by operating activities totaled $2.4 million in the fiscal fourth quarter. Non-GAAP free cash flow3 totaled $1.9 million in the fiscal fourth quarter. GAAP gross margin was 40% for the fourth quarter of fiscal 2019, as compared to a 33% GAAP gross margin in the fourth quarter of fiscal 2018. Non-GAAP adjusted gross margin4 was 42% for the fourth quarter of fiscal 2019, as compared to 36% in the fourth quarter of fiscal 2018 and 37% in the third quarter of fiscal 2019. The Company has surpassed 260 million total devices with Ignite installed to date, including more than 29 million devices installed during the March quarter. U.S. revenue-per-device (\"RPD\") increased by 27%, respectively, when compared to the fiscal fourth quarter of 2018, highlighting continuing strong demand among advertisers for the Digital Turbine platform. The Company ended fiscal 2019 with a cash balance of $10.9 million and zero total debt, following the conversion of all remaining convertible notes previously outstanding and full repayment of short-term debt. \"F...