Turbine
Company
Documents about Turbine
Digital Turbine Q1 Fiscal 2018 10-Q
Digital Turbine’s financial performance for the first quarter of fiscal 2018 reflects a strategic pivot toward high-margin advertising solutions, specifically the Ignite platform, which experienced a 120.6% revenue surge.
- Digital Turbine's core product, Ignite, is a mobile application management platform that monetizes device activations and life-cycle usage for mobile operators and OEMs through CPI, CPP, and CPA advertising arrangements.
- Total operating expenses decreased by 13.3% year-over-year for the quarter ended June 30, 2017, falling from $9.38 million to $8.14 million, primarily driven by a 25.1% reduction in general and administrative costs.
- As of June 30, 2017, the company reported $20.14 million in net accounts receivable, up from $16.55 million at the end of March 2017, with $8.96 million of that balance representing unbilled revenue.
Digital Turbine Annual Report: Fiscal Year 2017
Digital Turbine’s 2017 fiscal year report details a strategic transition toward a mobile media and communications business model, primarily focused on its proprietary Ignite platform.
- Digital Turbine reported a net loss of $24.26 million for the fiscal year ended March 31, 2017, an improvement from the $28.03 million loss recorded in fiscal 2016.
- Total operating expenses decreased slightly to $35.38 million in fiscal 2017 from $35.76 million in the prior year, driven by a reduction in general and administrative costs.
- The company carries $21 million in total debt, consisting of $5 million in secured indebtedness and $16 million in unsecured indebtedness, which limits financial flexibility and liquidity.
Digital Turbine Q3 FY2017 Form 10-Q
Digital Turbine’s financial performance for the nine months ending December 31, 2016, reflects a strategic transition toward mobile monetization and user acquisition services.
- Digital Turbine reported a net loss of $2.59 million for the quarter ended December 31, 2016, an improvement from the $5.76 million loss recorded in the same period of 2015.
- Total revenue for the nine months ended December 31, 2016, grew 8.9% to $69.16 million, though quarterly revenue for the three-month period ending December 31, 2016, declined 7.5% to $22.29 million.
- The quarterly revenue decline was driven by a 7.1% drop in advertising revenue and an 8.6% drop in content revenue, the latter impacted by policy changes at a major Australian partner.
Digital Turbine Form 10-Q: Q2 Fiscal Year 2017
Digital Turbine’s financial performance for the six-month period ending September 30, 2016, reflects a strategic transition characterized by revenue growth alongside persistent operational losses.
- Digital Turbine reported a net loss of $7.34 million for the six months ended September 30, 2016, with total net revenues of $46.87 million for the same period.
- Operating expenses for the six-month period totaled $18.84 million, driven by $9.92 million in general and administrative costs and $5.95 million in product development.
- The company raised $14.31 million in net cash proceeds through a warrant issuance in September 2016, with warrants exercisable at $1.364 per share until September 2020.
Digital Turbine Form 10-Q: Q1 FY2017
Digital Turbine demonstrated notable top-line growth during the first quarter of fiscal year 2017, ending June 30, 2016, with net revenues rising 28.6% to $24.0 million compared to $18.7 million in the prior-year period.
- Digital Turbine reported a net revenue of $24.04 million for the quarter ended June 30, 2016, representing a 28.6% increase compared to $18.69 million in the same period of 2015.
- The company reduced its net loss to $7.41 million for the quarter, an 8.7% improvement over the $8.12 million net loss recorded in the prior-year period.
- Content revenue grew significantly by 58.8% year-over-year to $11.23 million, while advertising revenue increased by 10.3% to $12.81 million.
Digital Turbine Annual Report: FY2016
Digital Turbine’s fiscal year 2016 performance was defined by a aggressive transition toward a mobile-centric advertising and content model, underscored by a 206.3% increase in net revenue to $86.5 million.
- Total operating expenses increased by 19.7% year-over-year, rising from $29.87 million in fiscal 2015 to $35.76 million in fiscal 2016, primarily due to a full year of operations from the acquired Appia (A&P) business.
- Product development expenses saw a significant 38.9% increase, growing from $7.91 million in fiscal 2015 to $10.98 million in fiscal 2016.
- As of March 31, 2016, the company held $16.34 million in total contractual cash obligations, with $12.98 million due in fiscal 2017, including $11 million in short-term debt principal payments.
Digital Turbine Quarterly Report: Q3 FY2016
Digital Turbine experienced a period of aggressive expansion during the third quarter of fiscal year 2016, characterized by a substantial increase in consolidated net revenue.
- Digital Turbine reported significant revenue growth for the nine months ended December 31, 2015, reaching $63.5 million compared to $18.0 million in the same period of 2014, a 252.4% increase.
- The Advertising segment drove the majority of revenue growth, surging to $42.7 million for the nine-month period compared to $2.5 million in 2014, bolstered by the acquisition of Appia Core and organic growth in DT Ignite.
- The Content business grew 34.3% year-over-year for the nine-month period, reaching $20.7 million, primarily due to increased demand for DT Pay and expansion into Australian and Southeast Asian markets.
Digital Turbine Quarterly Report: Q2 FY2016
Digital Turbine experienced a period of aggressive expansion during the first half of fiscal year 2016, characterized by a 257.8 percent surge in net revenue to $39.4 million.
- Digital Turbine reported a net loss of $8.3 million for the quarter ended September 30, 2015, compared to a $5.2 million loss in the same period of 2014, bringing the six-month net loss to $16.4 million.
- Consolidated net revenues grew significantly to $39.4 million for the six months ended September 30, 2015, up from $11.0 million in the prior year period.
- Advertising revenue saw massive growth, reaching $25.3 million for the six months ended September 30, 2015, compared to $1.1 million in the same period of 2014.
Digital Turbine Form 10-Q: Q1 FY2016
Digital Turbine experienced a period of aggressive expansion during the quarter ending June 30, 2015, characterized by a 236 percent surge in net revenue to $18.7 million.
- Digital Turbine reported a net loss of $8.1 million for the quarter ended June 30, 2015, compared to a $4.6 million loss in the same period of 2014.
- Consolidated net revenue grew significantly to $18.7 million for the quarter ended June 30, 2015, up from $5.6 million in the prior-year period.
- North America emerged as the largest revenue contributor at $11.5 million, while APAC revenue grew to $6.9 million and EMEA revenue declined to $0.3 million.
Digital Turbine Annual Report: Fiscal Year 2015
Digital Turbine’s 2015 annual report details a strategic pivot toward mobile media and monetization, characterized by a transition into two primary business segments: Advertising and Content.
- As of March 31, 2015, Digital Turbine reported material weaknesses in internal control over financial reporting, citing a lack of formal accounting policies, manual processes, and an absence of an integrated consolidation module.
- The company’s core products, DT Ignite and DT IQ, are currently compatible only with the Android operating system, creating a dependency on mobile industry developments and carrier relationships that the company cannot control.
- Digital Turbine’s revenue model relies on white-labeled mobile storefronts (DT Marketplace) and direct operator billing (DT Pay), with revenue recognition based on monthly transactional reporting from wireless carriers.
Digital Turbine Quarterly Report: Q3 FY2015
Digital Turbine is undergoing a significant strategic transformation, transitioning from a mobile content billing provider to a focused advertising technology firm.
- As of December 31, 2014, Digital Turbine held $11.38 million in cash and cash equivalents, a decrease from the $21.81 million held at the start of the nine-month period.
- The company reported net cash used in operating activities of $8.71 million for the nine months ended December 31, 2014, compared to $6.91 million for the same period in 2013.
- Digital Turbine expanded its asset base through the $1.5 million acquisition of XYO during the period ended December 31, 2014, and finalized the purchase price allocation for the DT APAC acquisition, resulting in a $1.47 million adjustment to goodwill.
Digital Turbine Form 10-Q: Q2 FY2015
Digital Turbine, formerly known as Mandalay Digital Group, operates as a provider of end-to-end mobile content and monetization solutions, including application management, user discovery, and direct operator billing.
- Digital Turbine is pursuing a merger with Appia, involving the issuance of approximately 19 million shares and the assumption of roughly $10 million in debt, expected to close in the first quarter of calendar 2015.
- On October 9, 2014, the company acquired mobile app recommendation and search assets from Xyologic Mobile Analysis (XYO) for $2.5 million in cash, with $375,000 held back for potential indemnities.
- As of September 30, 2014, the company held $16.7 million in cash and cash equivalents, down from $21.8 million at the beginning of the period.