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Digital Turbine, Inc.

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Digital Turbine, Inc. • NASDAQ
$4.79 ▲ 2.13% (+0.10)
Market Cap $509.35 M
52w High $8.28
52w Low $1.40
Dividend Yield 0%
P/E -6.56
Volume 1.02M
Outstanding Shares 106.34M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $130.926M $66.645M $-14.104M -10.772% $-0.13 $15.928M
Q1-2026 $130.926M ▲ $66.645M ▼ $-14.104M ▲ -10.772% ▲ $-0.13 ▲ $15.928M ▲
Q4-2025 $119.152M ▼ $68.29M ▼ $-18.826M ▲ -15.8% ▲ $-0.18 ▲ $12.3M ▲
Q3-2025 $134.637M ▲ $68.489M ▲ $-23.131M ▲ -17.18% ▲ $-0.22 ▲ $6.794M ▲
Q2-2025 $118.728M $67.496M $-24.986M -21.045% $-0.24 $5.81M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $39.284M ▲ $818.665M ▲ $670.539M ▲ $148.126M ▼
Q1-2026 $34.132M ▼ $818.356M ▲ $666.062M ▲ $152.294M ▼
Q4-2025 $40.084M ▲ $812.854M ▼ $658.896M ▼ $153.958M ▼
Q3-2025 $35.314M ▲ $839.71M ▼ $676.147M ▲ $163.563M ▼
Q2-2025 $32.765M $844.486M $662.116M $182.37M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-18.826M ▼ $11.508M ▲ $-6.944M ▲ $36K ▲ $4.77M ▲ $4.564M ▲
Q1-2026 $-14.104M ▲ $8.788M ▼ $-7.616M ▼ $-8.456M ▼ $-5.952M ▼ $1.172M ▼
Q4-2025 $-18.826M ▲ $11.508M ▲ $-6.944M ▲ $36K ▲ $4.77M ▲ $4.564M ▲
Q3-2025 $-23.131M ▲ $10.443M ▲ $-7.125M ▲ $-127K ▼ $2.549M ▲ $3.318M ▲
Q2-2025 $-24.986M $-8.719M $-7.477M $13.406M $-2.964M $-16.196M

Revenue by Products

Product Q1-2022Q2-2022Q3-2022Q4-2022
On Device Media
On Device Media
 $120.00M ▲$130.00M ▲$130.00M ▲$120.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Digital Turbine’s income statement shows a business that grew quickly earlier in the decade but is now working through a tougher phase. Revenue jumped sharply a few years ago, then has drifted down, suggesting the easy growth phase is over and demand has cooled or become more competitive. Profitability has clearly weakened. Gross profits are still healthy in absolute terms, but operating income has swung from solidly positive to modestly negative, which means overhead, sales costs, or platform investments are eating up more of the margin. Net income has moved from small, steady profits to meaningful losses, including one very weak year recently and a still-negative, though somewhat improved, result in the latest period. Overall, the income statement tells the story of a company transitioning from high-growth, modestly profitable, to slower growth with pressure on margins and earnings as it invests, adjusts to market changes, or digests past expansion.

Balance Sheet

Balance Sheet The balance sheet reflects a business that carries notable financial risk and less cushion than before. Total assets swelled during the growth period and then stepped down, which often points to write-downs, divestments, or tighter spending. Cash on hand is quite limited relative to the size of the business and especially relative to its debt. Debt remains sizable and has not fallen in line with the weaker earnings picture, so leverage is elevated. Shareholders’ equity has shrunk substantially from its peak, meaning the company has burned through a meaningful portion of its accounting net worth through losses or impairments. The net effect is a capital structure that looks more stretched than a few years ago. There is less balance sheet flexibility and a greater dependence on maintaining at least modest profitability and cash generation to comfortably service debt and fund operations.

Cash Flow

Cash Flow Cash flow is more resilient than the income statement but still not strong. The business has consistently generated positive cash from operations, which is encouraging and suggests the core model still converts revenue into cash. That said, operating cash flow has trended down from earlier, stronger years and now sits at a modest level. Capital spending needs are relatively low, so the company runs an asset-light model. Even so, free cash flow is only around break-even in recent periods, occasionally dipping slightly negative. That means there is not a large surplus of cash being generated after basic investment needs. In practice, the cash flow profile offers some support but not a large safety margin. There is enough cash generation to keep the business running and invest selectively, but less room to comfortably reduce debt, weather major shocks, or fund large new initiatives without outside capital or significant internal improvements.

Competitive Edge

Competitive Edge Digital Turbine occupies a distinct niche in the mobile ecosystem: on-device app discovery and distribution, rather than traditional app store search and advertising. Its main edge comes from deep, long-term integrations with mobile carriers and device manufacturers. Getting software embedded at the firmware level and winning multi-year contracts with major operators and OEMs is time-consuming and technically complex, which creates a meaningful barrier for new competitors. Its flagship capabilities—on-device preloads and curated app recommendations—give app developers and advertisers a direct path to users that bypasses some of the noise and friction of app stores. Patented technology like SingleTap, which reduces installation to a single click from an ad, strengthens the value proposition for marketers by improving conversion. However, the company operates in a highly competitive ad-tech and mobile distribution space, up against giant platforms and many smaller performance marketing firms. It is also exposed to platform policy changes by Google, Apple, and regulators. The moat is real but narrow: it relies heavily on maintaining and expanding carrier and OEM relationships and proving that its distribution consistently delivers better results than alternative channels.

Innovation and R&D

Innovation and R&D Innovation is a central part of Digital Turbine’s strategy. The DT Ignite platform and SingleTap are clear examples of applied R&D that directly improve user experience and advertiser performance by making app delivery smoother and more integrated with the device. More recently, the company is leaning into a strategic bet on alternative app distribution. Its partnership and investment in ONE Store show a push to build or enable more open app marketplaces outside the dominant app stores. This includes ambitions to extend these capabilities into major regions like North America and Europe, and even to address the iOS ecosystem if regulation and technology allow. These efforts are aligned with global regulatory trends that are pressuring the largest app stores to open up. If Digital Turbine can translate its on-device presence and technical know-how into a broader role in alternative app stores, it could unlock new revenue streams. But this is still an evolving area, with significant execution risk and uncertainty around user adoption, developer interest, and the exact shape of future regulations.

Summary

Digital Turbine is a specialized technology company with proven, differentiated products but a more fragile financial profile than in its earlier growth phase. On the positive side, it has unique on-device distribution technology, strong relationships with carriers and device makers, and patented solutions like SingleTap that solve real problems for advertisers and app developers. Its push into alternative app distribution and new app store models could benefit from global regulatory tailwinds that favor more open ecosystems. On the risk side, revenue momentum has cooled, margins have compressed, and the company has swung from steady profits to losses. The balance sheet shows higher leverage, thinner equity, and limited cash, which lowers financial flexibility. Cash flows remain positive but modest, leaving less room for missteps. Going forward, the story centers on whether Digital Turbine can stabilize and then re-accelerate growth, rebuild profitability, and carefully manage its debt load while executing on its innovation roadmap in a fast-changing and competitive mobile landscape.

NEWS

November 13, 2025 · 5:51 PM UTC

Digital Turbine to Participate in Upcoming Investor Conferences

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November 4, 2025 · 4:05 PM UTC

Digital Turbine Reports Fiscal 2026 Second Quarter Financial Results

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October 21, 2025 · 5:32 PM UTC

Digital Turbine to Host Fiscal 2026 Second Quarter Financial Results Conference Call on November 4, 2025, at 4:30p ET

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September 2, 2025 · 6:00 AM UTC

Digital Turbine Announces Successful Completion of Debt Refinancing and Updates Annual Guidance

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