Digital Turbine, Inc. (APPS) 10-Year Financial Performance & Capital Metrics

APPS •

TechnologyApplication SoftwareMarketing automation and ad technology

AboutDigital Turbine, Inc., through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through three segments: On Device Media, In App Media AdColony, and In App Media Fyber. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising, and sponsored and editorial content media. The company also provides an end-to-end platform for brands, agencies, publishers, and application developers to deliver advertising to consumers on mobile devices; and a platform that allows mobile application developers and digital publishers to monetize their content through display, native, and video advertising. It operates in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, China, Mexico, Central America, and South America. The company is headquartered in Austin, Texas.Show more

Revenue $491M -9.9%
EBITDA $29M +109.9%
Net Income -$92M +78.1%
EPS (Diluted) -0.89 +78.6%
Gross Margin 44.99% -1.0%
EBITDA Margin 5.88% +111.0%
Operating Margin -11.02% +84.0%
Net Margin -18.78% +75.7%
ROE -50.07% +51.1%
ROIC -7.36% +80.0%
Debt/Equity 2.72 +49.1%
Interest Coverage -1.55

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 28.7%

✗Weaknesses

✗High debt to equity ratio of 2.7x
✗Negative free cash flow
✗Weak momentum: RS Rating 20 (bottom 20%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y33.03%

5Y28.74%

3Y-13.11%

TTM5.22%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM56.51%

EPS CAGR

10Y-

5Y-

3Y-

TTM55.91%

ROCE

10Y Avg-0.02%

5Y Avg7.91%

3Y Avg-16.4%

Latest-8.87%

Peer Comparison

Marketing automation and ad technology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SEMRSemrush Holdings, Inc.	248.45M	11.82	213.74	22.47%	-1.05%	-1.51%	17.39%	0.05
IBTAIbotta, Inc.	807.89M	24.97	208.08	-6.77%	4.71%	5.6%	9.28%	0.09
SRADSportradar Group AG	3.97B	18.26	154.81	26.09%	7.72%	9.63%	3.72%	0.05
DSPViant Technology Inc.	463.5M	10.13	84.42	29.74%	1.85%	2.32%	10.63%	0.09
APPAppLovin Corporation	133.89B	434.77	44.59	16.38%	60.83%	156.17%	2.97%	1.66
DVDoubleVerify Holdings, Inc.	1.71B	10.54	35.13	13.92%	6.77%	4.48%	10.12%	0.09
TTDThe Trade Desk, Inc.	11.55B	23.82	26.18	18.47%	15.31%	17.84%	6.89%	0.18
GTMZoomInfo Technologies Inc.	1.91B	6.21	15.92	2.9%	9.94%	8.23%	20.37%	1.20

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	86.54M	91.55M	74.75M	103.57M	138.72M	747.6M	747.6M	665.92M	544.48M	490.51M
Revenue Growth %	206.32%	5.79%	-18.35%	38.55%	33.93%	438.94%	0%	-10.93%	-18.24%	-9.91%
Cost of Goods Sold+	76.72M	78.19M	49.7M	68M	85.04M	400.49M	400.49M	345.69M	297.02M	269.83M
COGS % of Revenue	88.65%	85.4%	66.48%	65.66%	61.31%	53.57%	53.57%	51.91%	54.55%	55.01%
Gross Profit+	9.82M	13.36M	25.05M	35.56M	53.67M	347.11M	347.11M	320.23M	247.46M	220.68M
Gross Margin %	11.35%	14.6%	33.52%	34.34%	38.69%	46.43%	46.43%	48.09%	45.45%	44.99%
Gross Profit Growth %	60.13%	36.09%	87.5%	41.95%	50.92%	546.71%	0%	-7.74%	-22.72%	-10.82%
Operating Expenses+	35.76M	35.38M	30.86M	32.12M	40.46M	254.87M	254.87M	274.06M	621.89M	274.75M
OpEx % of Revenue	41.32%	38.65%	41.29%	31.01%	29.17%	34.09%	34.09%	41.16%	114.22%	56.01%
Selling, General & Admin	24.77M	23.35M	21.21M	20.97M	28.44M	202.15M	202.15M	217.58M	231.1M	235.29M
SG&A % of Revenue	28.62%	25.5%	28.38%	20.25%	20.5%	27.04%	27.04%	32.67%	42.44%	47.97%
Research & Development	10.98M	12.04M	9.65M	11.15M	12.02M	52.72M	52.72M	56.49M	54.16M	39.46M
R&D % of Revenue	12.69%	13.15%	12.91%	10.76%	8.66%	7.05%	7.05%	8.48%	9.95%	8.05%
Other Operating Expenses	0	-1K	-72K	153K	0	0	0	0	336.64M	0
Operating Income+	-25.94M	-22.02M	-5.81M	3.44M	13.21M	92.24M	92.24M	46.16M	-374.44M	-54.08M
Operating Margin %	-29.97%	-24.05%	-7.77%	3.33%	9.52%	12.34%	12.34%	6.93%	-68.77%	-11.02%
Operating Income Growth %	-9.26%	15.1%	73.62%	159.3%	283.51%	598.16%	0%	-49.95%	-911.09%	85.56%
EBITDA+	-18.06M	-19.41M	-3.15M	6.21M	15.55M	149.69M	149.69M	127.24M	-290.58M	28.84M
EBITDA Margin %	-20.87%	-21.21%	-4.21%	6%	11.21%	20.02%	20.02%	19.11%	-53.37%	5.88%
EBITDA Growth %	16.49%	-7.48%	83.78%	297.24%	150.43%	862.41%	0%	-15%	-328.38%	109.92%
D&A (Non-Cash Add-back)	7.87M	2.61M	2.66M	2.77M	2.34M	57.45M	57.45M	81.07M	83.86M	82.91M
EBIT	-22.56M	-16.66M	-5.81M	3.44M	13.21M	92.24M	92.24M	46.16M	-37.8M	-54.08M
Net Interest Income+	-1.72M	-2.63M	-2.07M	-1.12M	41K	-1M	0	0	0	-34.78M
Interest Income	0	3K	0	0	41K	0	0	0	0	0
Interest Expense	1.72M	2.63M	2.07M	1.12M	0	1M	0	0	0	34.78M
Other Income/Expense	-1.88M	-2.31M	-14.84M	-7.28M	-9.31M	-48.27M	-48.27M	-24.15M	-30.69M	-33.79M
Pretax Income+	-27.82M	-24.41M	-20.65M	-3.83M	3.9M	43.97M	43.97M	22.02M	-405.13M	-87.86M
Pretax Margin %	-32.14%	-26.66%	-27.62%	-3.7%	2.82%	5.88%	5.88%	3.31%	-74.41%	-17.91%
Income Tax+	214K	-144K	-951K	469K	-10.38M	8.4M	8.4M	5.15M	15.32M	4.24M
Effective Tax Rate %	100.77%	99.41%	255.99%	156.8%	355.95%	80.84%	80.84%	75.73%	103.73%	104.82%
Net Income+	-28.03M	-24.26M	-52.86M	-6.01M	13.9M	35.55M	35.55M	16.67M	-420.23M	-92.1M
Net Margin %	-32.39%	-26.5%	-70.71%	-5.8%	10.02%	4.75%	4.75%	2.5%	-77.18%	-18.78%
Net Income Growth %	-13.73%	13.44%	-117.84%	88.63%	331.28%	155.73%	0%	-53.09%	-2620.41%	78.08%
Net Income (Continuing)	-24.49M	-19.14M	-19.7M	-4.3M	14.28M	35.57M	35.57M	16.87M	-420.45M	-92.1M
Discontinued Operations	0	0	0	0	-380K	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	1.64M	2.06M	0	0
EPS (Diluted)+	-0.45	-0.36	-0.75	-0.08	0.16	0.35	0.35	0.16	-4.16	-0.89
EPS Growth %	28.57%	20%	-108.33%	89.65%	306.19%	118.75%	0%	-54.29%	-2700%	78.61%
EPS (Basic)	-0.45	-0.36	-0.75	-0.08	0.17	0.37	0.37	0.17	-4.16	-0.89
Diluted Shares Outstanding	61.76M	66.51M	70.26M	77.44M	89.56M	102.64M	102.64M	101.82M	100.97M	103.75M
Basic Shares Outstanding	61.76M	66.51M	70.26M	77.44M	84.59M	95.2M	95.2M	98.78M	100.97M	103.75M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	29.55M	23.66M	39.76M	37.12M	58.45M	97.39M	410.87M	266.07M	242.34M	242.78M
Cash & Short-Term Investments	11.23M	6.48M	13.05M	11.06M	21.66M	31.12M	127.16M	75.56M	33.6M	40.08M
Cash Only	11.23M	6.48M	13.05M	11.06M	21.66M	31.12M	127.16M	75.56M	33.6M	40.08M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	17.52M	10.66M	17.05M	22.71M	33.13M	61.98M	263.14M	178.19M	191.01M	190.06M
Days Sales Outstanding	73.89	42.51	83.25	80.02	87.19	30.26	128.47	97.67	128.05	141.43
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	796K	6.52M	9.65M	3.36M	3.65M	4.28M	20.57M	12.32M	10.02M	5.71M
Total Non-Current Assets+	92.39M	83.92M	46.85M	45.74M	125.56M	162.98M	1.05B	1B	623.2M	570.08M
Property, Plant & Equipment	1.78M	2.01M	2.76M	3.43M	12.42M	16.55M	46.52M	49.4M	54.91M	56.89M
Fixed Asset Turnover	48.51x	45.64x	27.11x	30.20x	11.17x	45.19x	16.07x	13.48x	9.92x	8.62x
Goodwill	76.62M	42.27M	42.27M	42.27M	69.26M	80.18M	559.79M	561.58M	220.07M	221.74M
Intangible Assets	12.49M	2.65M	1.23M	0	43.88M	53.3M	440.59M	379.63M	313.5M	257.7M
Long-Term Investments	999K	0	0	0	0	0	0	0	17.64M	27.59M
Other Non-Current Assets	0	36.64M	0	0	0	0	732K	9.88M	17.08M	6.15M
Total Assets+	121.94M	107.58M	86.61M	82.86M	184.01M	260.37M	1.46B	1.27B	865.54M	812.85M
Asset Turnover	0.71x	0.85x	0.86x	1.25x	0.75x	2.87x	0.51x	0.53x	0.63x	0.60x
Asset Growth %	-0.51%	-11.78%	-19.5%	-4.33%	122.07%	41.5%	460.17%	-13.16%	-31.66%	-6.09%
Total Current Liabilities+	38.85M	30.77M	46.41M	38.31M	82.81M	111.15M	385.26M	220.92M	236.02M	222.53M
Accounts Payable	15.3M	11.79M	19.89M	14.91M	31.58M	34.95M	167.86M	119.34M	159.2M	139.94M
Days Payables Outstanding	72.79	55.02	146.12	80.04	135.54	31.86	152.98	126	195.63	189.3
Short-Term Debt	10.43M	0	1.45M	0	2.58M	16.05M	17.04M	3.96M	0	3.39M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	11.77M	18.47M	22.1M	20.95M	44.34M	50.33M	171.59M	86.64M	55.24M	56.67M
Current Ratio	0.76x	0.77x	0.86x	0.97x	0.71x	0.88x	1.07x	1.20x	1.03x	1.09x
Quick Ratio	0.76x	0.77x	0.86x	0.97x	0.71x	0.88x	1.07x	1.20x	1.03x	1.09x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	815K	14.76M	12.53M	8.2M	23.75M	4.11M	557.03M	438.38M	415.58M	436.37M
Long-Term Debt	0	12.9M	8.55M	0	18.5M	0	520.78M	410.52M	383.49M	408.69M
Capital Lease Obligations	0	0	0	0	0	0	0	6.6M	6.21M	6.11M
Deferred Tax Liabilities	0	0	0	0	0	0	19.98M	13.94M	20.42M	16.31M
Other Non-Current Liabilities	815K	1.86M	3.98M	8.2M	5.24M	4.11M	16.27M	7.32M	5.46M	5.26M
Total Liabilities	39.67M	45.53M	58.94M	46.5M	106.56M	115.26M	942.29M	659.3M	651.61M	658.9M
Total Debt+	10.43M	12.9M	9.99M	0	21.08M	16.05M	537.82M	421.08M	389.7M	418.19M
Net Debt	-799K	6.42M	-3.06M	-11.06M	-576K	-15.07M	410.66M	345.52M	356.1M	378.1M
Debt / Equity	0.13x	0.21x	0.36x	-	0.27x	0.11x	1.04x	0.69x	1.82x	2.72x
Debt / EBITDA	-	-	-	-	1.36x	0.11x	3.59x	3.31x	-	14.50x
Net Debt / EBITDA	-	-	-	-1.78x	-0.04x	-0.10x	2.74x	2.72x	-	13.11x
Interest Coverage	-15.11x	-8.38x	-2.81x	3.08x	-	91.97x	-	-	-	-1.55x
Total Equity+	82.27M	62.05M	27.67M	36.36M	77.45M	145.11M	516.22M	607.25M	213.93M	153.96M
Equity Growth %	-10.11%	-24.58%	-55.4%	31.39%	113.03%	87.35%	255.74%	17.64%	-64.77%	-28.03%
Book Value per Share	1.33	0.93	0.39	0.47	0.86	1.41	5.03	5.96	2.12	1.48
Total Shareholders' Equity	82.27M	62.05M	27.67M	36.36M	77.45M	145.11M	514.57M	605.2M	213.93M	153.96M
Common Stock	8K	8K	10K	10K	10K	10K	10K	10K	10K	10K
Retained Earnings	-212.99M	-237.25M	-290.11M	-296.12M	-282.22M	-227.33M	-191.79M	-175.12M	-595.34M	-687.44M
Treasury Stock	-71K	-71K	-71K	-71K	-71K	-71K	-71K	-71K	-71K	-71K
Accumulated OCI	-202K	-321K	-325K	-356K	-591K	-903K	-39.34M	-41.95M	-48.95M	-51.3M
Minority Interest	0	0	0	0	0	0	1.64M	2.06M	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-7.07M	-6.66M	6.97M	1.27M	31.38M	62.8M	113.38M	28.68M	11.88M	11.88M
Operating CF Margin %	-8.17%	-7.28%	9.32%	1.23%	22.62%	8.4%	15.17%	4.31%	2.18%	2.42%
Operating CF Growth %	51.25%	5.73%	204.53%	-81.78%	2372.58%	100.13%	80.55%	-74.71%	-58.57%	0%
Net Income	-24.49M	-19.14M	-19.7M	-4.3M	14.28M	54.88M	16.87M	-420.45M	-92.1M	-92.1M
Depreciation & Amortization	7.87M	2.61M	2.66M	2.77M	2.34M	7.11M	81.07M	83.86M	82.91M	82.91M
Stock-Based Compensation	5.96M	3.76M	2.98M	2.53M	3.35M	0	30.4M	33.76M	33.54M	33.54M
Deferred Taxes	0	0	0	0	40K	-12.95M	-6.04M	6.9M	-4.05M	-4.05M
Other Non-Cash Items	5.27M	6.28M	13.25M	3.41M	7.29M	7.65M	8.8M	342.5M	6.78M	6.78M
Working Capital Changes	-1.68M	-170K	7.78M	-3.14M	4.07M	6.1M	-17.73M	-17.9M	-15.2M	-15.2M
Change in Receivables	-5.1M	-3.88M	-7.07M	-6.04M	-2.43M	-25.38M	95.8M	-23.61M	2.25M	2.25M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	3.38M	4.43M	8.11M	-4.98M	16.17M	-1.9M	-48.83M	40.19M	-19.34M	-19.34M
Cash from Investing+	-674K	-596K	-2.13M	-2.31M	-46.72M	-37.81M	-35.06M	-43.85M	-27.48M	-27.48M
Capital Expenditures	-1.55M	-1.42M	-1.99M	-2.31M	-4.84M	-9.2M	-23.86M	-24.28M	-27.48M	-27.48M
CapEx % of Revenue	1.79%	1.55%	2.66%	2.23%	3.49%	1.23%	3.19%	3.65%	5.05%	5.6%
Acquisitions	0	0	0	0	-41.87M	-28.6M	-11.21M	-19.57M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-177K	-142K	0	0	0	0	0	0	0
Cash from Financing+	12.08M	2.63M	1.74M	-916K	26.18M	-15.22M	-128.29M	-29.3M	23.28M	23.28M
Debt Issued (Net)	-600K	5M	1.4M	-1.65M	20M	-5.47M	-123.5M	-27.13M	25M	25M
Equity Issued (Net)	1000K	0	0	0	0	1000K	0	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	51K	-2.37M	341K	734K	6.17M	-16.96M	-4.79M	-2.17M	-1.72M	-1.72M
Net Change in Cash	4.16M	-4.75M	6.57M	-1.99M	10.6M	9.46M	-51.6M	-41.95M	6.48M	6.48M
Free Cash Flow+	-8.62M	-8.08M	4.97M	-1.04M	26.53M	53.59M	89.52M	4.4M	-15.6M	-15.6M
FCF Margin %	-9.96%	-8.83%	6.65%	-1.01%	19.13%	7.17%	11.97%	0.66%	-2.86%	-3.18%
FCF Growth %	40.84%	6.22%	161.54%	-121.01%	2638.95%	101.99%	67.04%	-95.09%	-454.64%	0%
FCF per Share	-0.14	-0.12	0.07	-0.01	0.30	0.52	0.87	0.04	-0.15	-0.15
FCF Conversion (FCF/Net Income)	0.25x	0.27x	-0.13x	-0.21x	2.26x	1.77x	3.19x	1.72x	-0.03x	-0.13x
Interest Paid	1.1M	1.41M	1.07M	383K	101K	0	20.19M	30.72M	35.58M	35.58M
Taxes Paid	0	0	0	0	0	0	5.66M	1.53M	7.15M	7.15M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-32.26%	-33.63%	-117.83%	-18.77%	24.43%	31.94%	10.75%	2.97%	-102.35%	-50.07%
Return on Invested Capital (ROIC)	-22.05%	-22.03%	-9.36%	10.35%	19.4%	66.87%	13.09%	3.68%	-36.88%	-7.36%
Gross Margin	11.35%	14.6%	33.52%	34.34%	38.69%	46.43%	46.43%	48.09%	45.45%	44.99%
Net Margin	-32.39%	-26.5%	-70.71%	-5.8%	10.02%	4.75%	4.75%	2.5%	-77.18%	-18.78%
Debt / Equity	0.13x	0.21x	0.36x	-	0.27x	0.11x	1.04x	0.69x	1.82x	2.72x
Interest Coverage	-15.11x	-8.38x	-2.81x	3.08x	-	91.97x	-	-	-	-1.55x
FCF Conversion	0.25x	0.27x	-0.13x	-0.21x	2.26x	1.77x	3.19x	1.72x	-0.03x	-0.13x
Revenue Growth	206.32%	5.79%	-18.35%	38.55%	33.93%	438.94%	0%	-10.93%	-18.24%	-9.91%

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Digital Turbine, Inc. (APPS) 10-Year Financial Performance & Capital Metrics

APPS •

TechnologyApplication SoftwareMarketing automation and ad technology

Revenue $491M -9.9%
EBITDA $29M +109.9%
Net Income -$92M +78.1%
EPS (Diluted) -0.89 +78.6%
Gross Margin 44.99% -1.0%
EBITDA Margin 5.88% +111.0%
Operating Margin -11.02% +84.0%
Net Margin -18.78% +75.7%
ROE -50.07% +51.1%
ROIC -7.36% +80.0%
Debt/Equity 2.72 +49.1%
Interest Coverage -1.55

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 28.7%

✗Weaknesses

✗High debt to equity ratio of 2.7x
✗Negative free cash flow
✗Weak momentum: RS Rating 20 (bottom 20%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y33.03%

5Y28.74%

3Y-13.11%

TTM5.22%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM56.51%

EPS CAGR

10Y-

5Y-

3Y-

TTM55.91%

ROCE

10Y Avg-0.02%

5Y Avg7.91%

3Y Avg-16.4%

Latest-8.87%

Peer Comparison

Marketing automation and ad technology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SEMRSemrush Holdings, Inc.	248.45M	11.82	213.74	22.47%	-1.05%	-1.51%	17.39%	0.05
IBTAIbotta, Inc.	807.89M	24.97	208.08	-6.77%	4.71%	5.6%	9.28%	0.09
SRADSportradar Group AG	3.97B	18.26	154.81	26.09%	7.72%	9.63%	3.72%	0.05
DSPViant Technology Inc.	463.5M	10.13	84.42	29.74%	1.85%	2.32%	10.63%	0.09
APPAppLovin Corporation	133.89B	434.77	44.59	16.38%	60.83%	156.17%	2.97%	1.66
DVDoubleVerify Holdings, Inc.	1.71B	10.54	35.13	13.92%	6.77%	4.48%	10.12%	0.09
TTDThe Trade Desk, Inc.	11.55B	23.82	26.18	18.47%	15.31%	17.84%	6.89%	0.18
GTMZoomInfo Technologies Inc.	1.91B	6.21	15.92	2.9%	9.94%	8.23%	20.37%	1.20

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	86.54M	91.55M	74.75M	103.57M	138.72M	747.6M	747.6M	665.92M	544.48M	490.51M
Revenue Growth %	206.32%	5.79%	-18.35%	38.55%	33.93%	438.94%	0%	-10.93%	-18.24%	-9.91%
Cost of Goods Sold+	76.72M	78.19M	49.7M	68M	85.04M	400.49M	400.49M	345.69M	297.02M	269.83M
COGS % of Revenue	88.65%	85.4%	66.48%	65.66%	61.31%	53.57%	53.57%	51.91%	54.55%	55.01%
Gross Profit+	9.82M	13.36M	25.05M	35.56M	53.67M	347.11M	347.11M	320.23M	247.46M	220.68M
Gross Margin %	11.35%	14.6%	33.52%	34.34%	38.69%	46.43%	46.43%	48.09%	45.45%	44.99%
Gross Profit Growth %	60.13%	36.09%	87.5%	41.95%	50.92%	546.71%	0%	-7.74%	-22.72%	-10.82%
Operating Expenses+	35.76M	35.38M	30.86M	32.12M	40.46M	254.87M	254.87M	274.06M	621.89M	274.75M
OpEx % of Revenue	41.32%	38.65%	41.29%	31.01%	29.17%	34.09%	34.09%	41.16%	114.22%	56.01%
Selling, General & Admin	24.77M	23.35M	21.21M	20.97M	28.44M	202.15M	202.15M	217.58M	231.1M	235.29M
SG&A % of Revenue	28.62%	25.5%	28.38%	20.25%	20.5%	27.04%	27.04%	32.67%	42.44%	47.97%
Research & Development	10.98M	12.04M	9.65M	11.15M	12.02M	52.72M	52.72M	56.49M	54.16M	39.46M
R&D % of Revenue	12.69%	13.15%	12.91%	10.76%	8.66%	7.05%	7.05%	8.48%	9.95%	8.05%
Other Operating Expenses	0	-1K	-72K	153K	0	0	0	0	336.64M	0
Operating Income+	-25.94M	-22.02M	-5.81M	3.44M	13.21M	92.24M	92.24M	46.16M	-374.44M	-54.08M
Operating Margin %	-29.97%	-24.05%	-7.77%	3.33%	9.52%	12.34%	12.34%	6.93%	-68.77%	-11.02%
Operating Income Growth %	-9.26%	15.1%	73.62%	159.3%	283.51%	598.16%	0%	-49.95%	-911.09%	85.56%
EBITDA+	-18.06M	-19.41M	-3.15M	6.21M	15.55M	149.69M	149.69M	127.24M	-290.58M	28.84M
EBITDA Margin %	-20.87%	-21.21%	-4.21%	6%	11.21%	20.02%	20.02%	19.11%	-53.37%	5.88%
EBITDA Growth %	16.49%	-7.48%	83.78%	297.24%	150.43%	862.41%	0%	-15%	-328.38%	109.92%
D&A (Non-Cash Add-back)	7.87M	2.61M	2.66M	2.77M	2.34M	57.45M	57.45M	81.07M	83.86M	82.91M
EBIT	-22.56M	-16.66M	-5.81M	3.44M	13.21M	92.24M	92.24M	46.16M	-37.8M	-54.08M
Net Interest Income+	-1.72M	-2.63M	-2.07M	-1.12M	41K	-1M	0	0	0	-34.78M
Interest Income	0	3K	0	0	41K	0	0	0	0	0
Interest Expense	1.72M	2.63M	2.07M	1.12M	0	1M	0	0	0	34.78M
Other Income/Expense	-1.88M	-2.31M	-14.84M	-7.28M	-9.31M	-48.27M	-48.27M	-24.15M	-30.69M	-33.79M
Pretax Income+	-27.82M	-24.41M	-20.65M	-3.83M	3.9M	43.97M	43.97M	22.02M	-405.13M	-87.86M
Pretax Margin %	-32.14%	-26.66%	-27.62%	-3.7%	2.82%	5.88%	5.88%	3.31%	-74.41%	-17.91%
Income Tax+	214K	-144K	-951K	469K	-10.38M	8.4M	8.4M	5.15M	15.32M	4.24M
Effective Tax Rate %	100.77%	99.41%	255.99%	156.8%	355.95%	80.84%	80.84%	75.73%	103.73%	104.82%
Net Income+	-28.03M	-24.26M	-52.86M	-6.01M	13.9M	35.55M	35.55M	16.67M	-420.23M	-92.1M
Net Margin %	-32.39%	-26.5%	-70.71%	-5.8%	10.02%	4.75%	4.75%	2.5%	-77.18%	-18.78%
Net Income Growth %	-13.73%	13.44%	-117.84%	88.63%	331.28%	155.73%	0%	-53.09%	-2620.41%	78.08%
Net Income (Continuing)	-24.49M	-19.14M	-19.7M	-4.3M	14.28M	35.57M	35.57M	16.87M	-420.45M	-92.1M
Discontinued Operations	0	0	0	0	-380K	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	1.64M	2.06M	0	0
EPS (Diluted)+	-0.45	-0.36	-0.75	-0.08	0.16	0.35	0.35	0.16	-4.16	-0.89
EPS Growth %	28.57%	20%	-108.33%	89.65%	306.19%	118.75%	0%	-54.29%	-2700%	78.61%
EPS (Basic)	-0.45	-0.36	-0.75	-0.08	0.17	0.37	0.37	0.17	-4.16	-0.89
Diluted Shares Outstanding	61.76M	66.51M	70.26M	77.44M	89.56M	102.64M	102.64M	101.82M	100.97M	103.75M
Basic Shares Outstanding	61.76M	66.51M	70.26M	77.44M	84.59M	95.2M	95.2M	98.78M	100.97M	103.75M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	29.55M	23.66M	39.76M	37.12M	58.45M	97.39M	410.87M	266.07M	242.34M	242.78M
Cash & Short-Term Investments	11.23M	6.48M	13.05M	11.06M	21.66M	31.12M	127.16M	75.56M	33.6M	40.08M
Cash Only	11.23M	6.48M	13.05M	11.06M	21.66M	31.12M	127.16M	75.56M	33.6M	40.08M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	17.52M	10.66M	17.05M	22.71M	33.13M	61.98M	263.14M	178.19M	191.01M	190.06M
Days Sales Outstanding	73.89	42.51	83.25	80.02	87.19	30.26	128.47	97.67	128.05	141.43
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	796K	6.52M	9.65M	3.36M	3.65M	4.28M	20.57M	12.32M	10.02M	5.71M
Total Non-Current Assets+	92.39M	83.92M	46.85M	45.74M	125.56M	162.98M	1.05B	1B	623.2M	570.08M
Property, Plant & Equipment	1.78M	2.01M	2.76M	3.43M	12.42M	16.55M	46.52M	49.4M	54.91M	56.89M
Fixed Asset Turnover	48.51x	45.64x	27.11x	30.20x	11.17x	45.19x	16.07x	13.48x	9.92x	8.62x
Goodwill	76.62M	42.27M	42.27M	42.27M	69.26M	80.18M	559.79M	561.58M	220.07M	221.74M
Intangible Assets	12.49M	2.65M	1.23M	0	43.88M	53.3M	440.59M	379.63M	313.5M	257.7M
Long-Term Investments	999K	0	0	0	0	0	0	0	17.64M	27.59M
Other Non-Current Assets	0	36.64M	0	0	0	0	732K	9.88M	17.08M	6.15M
Total Assets+	121.94M	107.58M	86.61M	82.86M	184.01M	260.37M	1.46B	1.27B	865.54M	812.85M
Asset Turnover	0.71x	0.85x	0.86x	1.25x	0.75x	2.87x	0.51x	0.53x	0.63x	0.60x
Asset Growth %	-0.51%	-11.78%	-19.5%	-4.33%	122.07%	41.5%	460.17%	-13.16%	-31.66%	-6.09%
Total Current Liabilities+	38.85M	30.77M	46.41M	38.31M	82.81M	111.15M	385.26M	220.92M	236.02M	222.53M
Accounts Payable	15.3M	11.79M	19.89M	14.91M	31.58M	34.95M	167.86M	119.34M	159.2M	139.94M
Days Payables Outstanding	72.79	55.02	146.12	80.04	135.54	31.86	152.98	126	195.63	189.3
Short-Term Debt	10.43M	0	1.45M	0	2.58M	16.05M	17.04M	3.96M	0	3.39M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	11.77M	18.47M	22.1M	20.95M	44.34M	50.33M	171.59M	86.64M	55.24M	56.67M
Current Ratio	0.76x	0.77x	0.86x	0.97x	0.71x	0.88x	1.07x	1.20x	1.03x	1.09x
Quick Ratio	0.76x	0.77x	0.86x	0.97x	0.71x	0.88x	1.07x	1.20x	1.03x	1.09x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	815K	14.76M	12.53M	8.2M	23.75M	4.11M	557.03M	438.38M	415.58M	436.37M
Long-Term Debt	0	12.9M	8.55M	0	18.5M	0	520.78M	410.52M	383.49M	408.69M
Capital Lease Obligations	0	0	0	0	0	0	0	6.6M	6.21M	6.11M
Deferred Tax Liabilities	0	0	0	0	0	0	19.98M	13.94M	20.42M	16.31M
Other Non-Current Liabilities	815K	1.86M	3.98M	8.2M	5.24M	4.11M	16.27M	7.32M	5.46M	5.26M
Total Liabilities	39.67M	45.53M	58.94M	46.5M	106.56M	115.26M	942.29M	659.3M	651.61M	658.9M
Total Debt+	10.43M	12.9M	9.99M	0	21.08M	16.05M	537.82M	421.08M	389.7M	418.19M
Net Debt	-799K	6.42M	-3.06M	-11.06M	-576K	-15.07M	410.66M	345.52M	356.1M	378.1M
Debt / Equity	0.13x	0.21x	0.36x	-	0.27x	0.11x	1.04x	0.69x	1.82x	2.72x
Debt / EBITDA	-	-	-	-	1.36x	0.11x	3.59x	3.31x	-	14.50x
Net Debt / EBITDA	-	-	-	-1.78x	-0.04x	-0.10x	2.74x	2.72x	-	13.11x
Interest Coverage	-15.11x	-8.38x	-2.81x	3.08x	-	91.97x	-	-	-	-1.55x
Total Equity+	82.27M	62.05M	27.67M	36.36M	77.45M	145.11M	516.22M	607.25M	213.93M	153.96M
Equity Growth %	-10.11%	-24.58%	-55.4%	31.39%	113.03%	87.35%	255.74%	17.64%	-64.77%	-28.03%
Book Value per Share	1.33	0.93	0.39	0.47	0.86	1.41	5.03	5.96	2.12	1.48
Total Shareholders' Equity	82.27M	62.05M	27.67M	36.36M	77.45M	145.11M	514.57M	605.2M	213.93M	153.96M
Common Stock	8K	8K	10K	10K	10K	10K	10K	10K	10K	10K
Retained Earnings	-212.99M	-237.25M	-290.11M	-296.12M	-282.22M	-227.33M	-191.79M	-175.12M	-595.34M	-687.44M
Treasury Stock	-71K	-71K	-71K	-71K	-71K	-71K	-71K	-71K	-71K	-71K
Accumulated OCI	-202K	-321K	-325K	-356K	-591K	-903K	-39.34M	-41.95M	-48.95M	-51.3M
Minority Interest	0	0	0	0	0	0	1.64M	2.06M	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-7.07M	-6.66M	6.97M	1.27M	31.38M	62.8M	113.38M	28.68M	11.88M	11.88M
Operating CF Margin %	-8.17%	-7.28%	9.32%	1.23%	22.62%	8.4%	15.17%	4.31%	2.18%	2.42%
Operating CF Growth %	51.25%	5.73%	204.53%	-81.78%	2372.58%	100.13%	80.55%	-74.71%	-58.57%	0%
Net Income	-24.49M	-19.14M	-19.7M	-4.3M	14.28M	54.88M	16.87M	-420.45M	-92.1M	-92.1M
Depreciation & Amortization	7.87M	2.61M	2.66M	2.77M	2.34M	7.11M	81.07M	83.86M	82.91M	82.91M
Stock-Based Compensation	5.96M	3.76M	2.98M	2.53M	3.35M	0	30.4M	33.76M	33.54M	33.54M
Deferred Taxes	0	0	0	0	40K	-12.95M	-6.04M	6.9M	-4.05M	-4.05M
Other Non-Cash Items	5.27M	6.28M	13.25M	3.41M	7.29M	7.65M	8.8M	342.5M	6.78M	6.78M
Working Capital Changes	-1.68M	-170K	7.78M	-3.14M	4.07M	6.1M	-17.73M	-17.9M	-15.2M	-15.2M
Change in Receivables	-5.1M	-3.88M	-7.07M	-6.04M	-2.43M	-25.38M	95.8M	-23.61M	2.25M	2.25M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	3.38M	4.43M	8.11M	-4.98M	16.17M	-1.9M	-48.83M	40.19M	-19.34M	-19.34M
Cash from Investing+	-674K	-596K	-2.13M	-2.31M	-46.72M	-37.81M	-35.06M	-43.85M	-27.48M	-27.48M
Capital Expenditures	-1.55M	-1.42M	-1.99M	-2.31M	-4.84M	-9.2M	-23.86M	-24.28M	-27.48M	-27.48M
CapEx % of Revenue	1.79%	1.55%	2.66%	2.23%	3.49%	1.23%	3.19%	3.65%	5.05%	5.6%
Acquisitions	0	0	0	0	-41.87M	-28.6M	-11.21M	-19.57M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-177K	-142K	0	0	0	0	0	0	0
Cash from Financing+	12.08M	2.63M	1.74M	-916K	26.18M	-15.22M	-128.29M	-29.3M	23.28M	23.28M
Debt Issued (Net)	-600K	5M	1.4M	-1.65M	20M	-5.47M	-123.5M	-27.13M	25M	25M
Equity Issued (Net)	1000K	0	0	0	0	1000K	0	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	51K	-2.37M	341K	734K	6.17M	-16.96M	-4.79M	-2.17M	-1.72M	-1.72M
Net Change in Cash	4.16M	-4.75M	6.57M	-1.99M	10.6M	9.46M	-51.6M	-41.95M	6.48M	6.48M
Free Cash Flow+	-8.62M	-8.08M	4.97M	-1.04M	26.53M	53.59M	89.52M	4.4M	-15.6M	-15.6M
FCF Margin %	-9.96%	-8.83%	6.65%	-1.01%	19.13%	7.17%	11.97%	0.66%	-2.86%	-3.18%
FCF Growth %	40.84%	6.22%	161.54%	-121.01%	2638.95%	101.99%	67.04%	-95.09%	-454.64%	0%
FCF per Share	-0.14	-0.12	0.07	-0.01	0.30	0.52	0.87	0.04	-0.15	-0.15
FCF Conversion (FCF/Net Income)	0.25x	0.27x	-0.13x	-0.21x	2.26x	1.77x	3.19x	1.72x	-0.03x	-0.13x
Interest Paid	1.1M	1.41M	1.07M	383K	101K	0	20.19M	30.72M	35.58M	35.58M
Taxes Paid	0	0	0	0	0	0	5.66M	1.53M	7.15M	7.15M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-32.26%	-33.63%	-117.83%	-18.77%	24.43%	31.94%	10.75%	2.97%	-102.35%	-50.07%
Return on Invested Capital (ROIC)	-22.05%	-22.03%	-9.36%	10.35%	19.4%	66.87%	13.09%	3.68%	-36.88%	-7.36%
Gross Margin	11.35%	14.6%	33.52%	34.34%	38.69%	46.43%	46.43%	48.09%	45.45%	44.99%
Net Margin	-32.39%	-26.5%	-70.71%	-5.8%	10.02%	4.75%	4.75%	2.5%	-77.18%	-18.78%
Debt / Equity	0.13x	0.21x	0.36x	-	0.27x	0.11x	1.04x	0.69x	1.82x	2.72x
Interest Coverage	-15.11x	-8.38x	-2.81x	3.08x	-	91.97x	-	-	-	-1.55x
FCF Conversion	0.25x	0.27x	-0.13x	-0.21x	2.26x	1.77x	3.19x	1.72x	-0.03x	-0.13x
Revenue Growth	206.32%	5.79%	-18.35%	38.55%	33.93%	438.94%	0%	-10.93%	-18.24%	-9.91%

Digital Turbine, Inc. (APPS) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare APPS vs Peers

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Profit & Loss

Balance Sheet

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Deep Dive Analysis

Valuation Overview

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Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

Digital Turbine, Inc. (APPS) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare APPS vs Peers

vs APP

vs TTD

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios