Turbine
Company
Documents about Turbine
Digital Turbine Quarterly Report: Q1 FY2023
Digital Turbine achieved significant financial growth in the first quarter of fiscal year 2023, reporting net revenue of $188.6 million, a 19.3% increase over the same period in the previous year.
- Digital Turbine reorganized its reporting structure effective April 1, 2022, consolidating its In-App Media segments (AdColony and Fyber) into a single segment and renaming On Device Media to On Device Solutions.
- Total costs of revenue and operating expenses rose by $25.27 million (18.2%) for the quarter ended June 30, 2022, primarily driven by the full-quarter impact of the AdColony and Fyber acquisitions.
- The company is facing class action lawsuits filed in June and July 2022 in the Western District of Texas alleging violations of federal securities laws, which management intends to defend vigorously.
Digital Turbine Annual Report: Fiscal Year 2022
Digital Turbine’s fiscal year 2022 was defined by a strategic transformation into a comprehensive, end-to-end mobile growth platform.
- Digital Turbine executed a strategy to become an end-to-end mobile advertising and monetization provider through the acquisitions of Appreciate, AdColony, and Fyber.
- The Appreciate acquisition closed on March 2, 2021, for a total cash consideration of $20,003,000, plus up to $6,000,000 in retention and performance bonuses.
- As part of the Fyber acquisition, Digital Turbine assumed $25,789,000 in debt, of which $13,289,000 was settled during the fiscal year ending March 31, 2022, leaving $12,500,000 in short-term debt.
Digital Turbine Quarterly Report: Q3 FY2022
Digital Turbine experienced a period of transformative expansion during the third quarter of fiscal year 2022, characterized by a 323.8% year-over-year increase in net revenue to $375.5 million.
- Digital Turbine completed two major acquisitions in 2021, AdColony and Fyber, which significantly expanded its In-App Media (IAM) segments and contributed to a consolidated net revenue of $898.3 million for the nine months ended December 31, 2021.
- As of December 31, 2021, the company held $554.9 million in goodwill, with $199.0 million attributed to the AdColony acquisition and $275.7 million to the Fyber acquisition.
- The company amended its credit agreement in December 2021 to increase its revolving line of credit by $125 million, bringing the total capacity to $525 million, with $345.1 million drawn as of year-end.
Digital Turbine Quarterly Report: Q2 FY2022
Digital Turbine underwent a period of aggressive transformation during the second quarter of fiscal year 2022, shifting from a singular focus on on-device media to a diversified mobile advertising powerhouse.
- Digital Turbine underwent a major structural shift by acquiring AdColony and Fyber, resulting in the creation of three distinct operating segments: On Device Media (ODM), In App Media - AdColony (IAM-A), and In App Media - Fyber (IAM-F).
- Consolidated net revenues for the six months ended September 30, 2021, reached $522.8 million, a significant increase from $129.9 million in the same period of the previous year, driven by the new acquisitions.
- The company recognized a $31 million charge in Q2 FY2022 after determining it is now likely that Fyber will achieve its earn-out net revenue targets, triggering a contingent consideration liability.
Digital Turbine Quarterly Report: Q1 FY2022
Digital Turbine’s fiscal performance for the first quarter of 2022 reflects a period of aggressive transformation, characterized by a shift toward a full-stack, independent mobile advertising model.
- Digital Turbine completed the acquisition of a 95.1% majority stake in mobile advertising platform Fyber N.V. on May 25, 2021.
- The company secured a $400 million revolving credit facility with Bank of America and a syndicate of lenders on April 29, 2021, maturing in April 2026.
- As of June 30, 2021, the company held $237.1 million in outstanding secured indebtedness under its new credit agreement, with an additional $30 million drawn shortly thereafter.
Digital Turbine Annual Report: Fiscal Year 2021
Digital Turbine’s fiscal year 2021 performance reflects a strategic pivot toward becoming a comprehensive end-to-end mobile advertising and monetization platform.
- Digital Turbine operates as a single reportable segment, Media Distribution, which provides mobile application discovery and delivery services through partnerships with over 35 mobile operators and OEMs.
- The company's platform has demonstrated significant scale, delivering more than 5.3 billion application preloads for tens of thousands of advertising campaigns through March 31, 2021.
- Revenue recognition for carrier and OEM contracts is primarily based on a revenue share model or a per-device SaaS license fee, treated as a single performance obligation delivered over the contract term.
Digital Turbine Q3 FY2021 10-Q
Digital Turbine experienced substantial financial expansion during the third quarter of fiscal year 2021, driven by a strategic focus on its core Media Distribution segment.
- Digital Turbine reported a significant increase in net cash provided by operating activities, rising to $48.6 million for the nine months ended December 31, 2020, compared to $20.0 million in the same period of the previous year.
- The company's cash and restricted cash position grew to $43.7 million as of December 31, 2020, up from $33.9 million at the end of the previous fiscal year.
- The acquisition of Mobile Posse was integrated to expand the company's Media Distribution segment, providing new platforms for monetizing user actions through media-rich content delivery for OEM and carrier partners.
Speed Panel: Using Preloads as the Ultimate Playable Ad
Mobile user acquisition faces significant hurdles as traditional advertising methods increasingly struggle with consumer ad fatigue, misleading creative, and the widespread adoption of ad blockers.
- Approximately 26% of gamers identify pre-loaded games as a more effective discovery method than traditional television or online advertising.
- Preloading bypasses traditional ad funnels and reduces friction by installing games directly onto devices, which results in superior user retention rates compared to standard digital marketing.
- Platforms like Digital Turbine’s Ignite enable fraud-free, high-intent installations by integrating directly into the device lifecycle rather than relying on conventional ad placements.
Digital Turbine Quarterly Report: Q2 FY2021
Digital Turbine achieved substantial financial expansion during the second quarter of fiscal year 2021, characterized by a strategic pivot toward a unified media distribution model.
- Digital Turbine reported significant year-over-year revenue growth, with consolidated net revenues rising to $70.89 million for the quarter ended September 30, 2020, compared to $32.80 million in the same period of 2019.
- The company's primary revenue driver is its application delivery and management software, which enables mobile operators and OEMs to monetize device activations and ongoing app installations.
- Geographic revenue expansion was broad-based, with the United States and Canada remaining the largest market at $47.12 million in quarterly revenue, while the EMEA region grew to $17.53 million.
Digital Turbine Quarterly Report: Q1 FY2021
Digital Turbine achieved substantial financial growth during the first quarter of fiscal year 2021, characterized by a 93.1 percent year-over-year increase in net revenues to $59.0 million.
- Digital Turbine reported net income of $9.94 million for the quarter ended June 30, 2020, with total cash and restricted cash ending the period at $18.72 million.
- The company's revenue streams for the quarter consisted of $44.23 million from application media and $14.78 million from content media, driven by increased demand for core application delivery and management services.
- As of June 30, 2020, the company held $43.21 million in net intangible assets, primarily consisting of $41.23 million in customer relationships.
Digital Turbine Annual Report: Form 10-K FY2020
Digital Turbine’s fiscal year 2020 report details a pivotal transformation into a streamlined, single-segment business model centered on media distribution.
- Digital Turbine's fiscal year 2020 performance was heavily influenced by the acquisition of Mobile Posse, with future success contingent on integrating operations, expanding carrier/OEM relationships, and realizing anticipated revenue growth.
- The company's stock price increased from $3.50 on March 31, 2019, to $4.18 on March 31, 2020, resulting in a $9,580 loss from the change in fair value of warrant liability.
- As of March 31, 2020, Digital Turbine faced significant customer concentration, with Oath Inc. (a Verizon subsidiary) and Outbrain Inc. representing 11.6% and 11.5% of net accounts receivable, respectively.
Digital Turbine Q3 FY2020 Form 10-Q
Digital Turbine demonstrated significant financial momentum during the third quarter of fiscal year 2020, characterized by robust revenue growth and improved operational efficiency.
- Digital Turbine reported significant gross margin growth, with the three-month period ending December 31, 2019, reaching $14.04 million (39.0% margin) compared to $10.68 million (35.1% margin) in the prior-year period.
- For the nine months ended December 31, 2019, the company achieved a 55.8% increase in gross margin, rising to $38.35 million from $24.61 million in the same period of 2018.
- The company has scaled its Ignite platform to deliver over 3 billion application pre-loads across 369 million devices through 35 active Operator and OEM (O&O) partnerships.