Published on 8 Feb 2024 on GuruFocus.com via Yahoo Finance
Digital Turbine Inc (APPS) Faces Revenue Decline and Net Loss in Fiscal Q3 2024
Revenue: Fiscal Q3 2024 revenue declined by 12% year-over-year to $142.6 million.Net Loss: GAAP net loss reported at $14.1 million, compared to a net income of $4.1 million in the same quarter last year.Adjusted EBITDA: Non-GAAP adjusted EBITDA decreased to $25.4 million from $40.0 million in fiscal Q3 2023.Adjusted Net Income: Non-GAAP adjusted net income was $15.6 million, down from $30.2 million year-over-year.Debt Reduction: Long-term debt balance reduced by $9.8 million to $374.0 million.Free Cash Flow: Non-GAAP free cash flow for the quarter stood at $14.3 million.
Warning! GuruFocus has detected 4 Warning Signs with APPS.
On February 7, 2024, Digital Turbine Inc (NASDAQ:APPS) released its 8-K filing, detailing the financial results for the fiscal third quarter ended December 31, 2023. The company, an independent mobile growth platform, reported a year-over-year revenue decline of 12% to $142.6 million, reflecting weaker U.S. device upgrade rates and temporary platform consolidation factors.