Business
Digital Turbine Reports Fourth Quarter and Fiscal Full Year 2020 Results
Fourth Quarter Revenue of $39.4 Million Represented 45% Annual Growth Revenue Growth and Operating Leverage Drove Significant Growth in GAAP Net Income and
About this update from Digital Turbine, Inc.
[{"type":"text","content":"Fourth Quarter Revenue of $39.4 Million Represented 45% Annual Growth\n Revenue Growth and Operating Leverage Drove Significant Growth in GAAP Net Income and Non-GAAP Adjusted EBITDA in Fiscal 2020\n\n\nAUSTIN, Texas, June 2, 2020 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal full year and quarter ended March 31, 2020. 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. The Company completed its acquisition of Mobile Posse, Inc., on February 28, 2020. All operating results discussed below include the contribution of Mobile Posse's operations for the period from February 28, 2020 through March 31, 2020.\nRecent Financial Highlights:\nFiscal fourth quarter revenue was $39.4 million, representing 45% growth when compared to the fiscal fourth quarter of 2019. Fiscal year 2020 revenue totaled $138.7 million, up 34% as compared to fiscal year 2019 revenue. GAAP net income for the fiscal fourth quarter was $14.0 million, or $0.16 per share, as compared to a GAAP net loss of $6.8 million, or ($0.09) per share for the fiscal fourth quarter of 2019. Non-GAAP adjusted net income1 for the fiscal fourth quarter was $4.2 million, or $0.05 per share, as compared to Non-GAAP adjusted net income of $2.4 million, or $0.03 per share, in the fiscal fourth quarter of 2019. Non-GAAP adjusted EBITDA2 for the fiscal fourth quarter was $5.3 million, as compared to Non-GAAP adjusted EBITDA of $3.3 million in the fiscal fourth quarter of 2019. Non-GAAP Adjusted EBITDA for full year fiscal 2020 totaled $19.6 million, representing 120% growth when compared to Non-GAAP Adjusted EBITDA of $8.9 million in fiscal year 2019. GAAP cash provided by operating activities totaled $13.5 million in the fiscal fourth quarter. Non-GAAP free cash flow3 totaled $11.8 million in the fiscal fourth quarter. The Company had total cash and cash equivalents of $21.5 million as of March 31, 2020. GAAP gross margin was 39% for the fiscal fourth quarter of 2020, as compared to 40% in the fiscal fourth quarter of 2019. Non-GAAP adjusted gross margin4 was 40% for the fiscal fourth quarter of 2020, as compared to 42% in the fiscal fourth quarter of 2019. The Co...