Categories Earnings, Technology

Digital Turbine gains on upbeat Q4 earnings

Digital Turbine Inc. (APPS) reported a wider loss in the fourth quarter of 2019 hurt by a larger change in fair value of warrant liability and convertible note embedded derivative liability. However, the results exceeded analysts’ expectations. The company guided first-quarter revenue in-line with the consensus estimates. Following this, the stock inched up over 7% in the after-market session.

Net loss from continuing operations was $6.8 million or $0.09 per share, wider than a loss of $4.2 million or $0.06 per share in the previous year quarter. Adjusted earnings were $0.03 per share compared to a loss of $0.01 per share a year ago.

Revenue jumped by 30% to $27.2 million, primarily driven by higher revenue-per-device with its large U.S.-based carrier partners, reflecting strong baseline advertiser demand for platform products. Revenue growth was also supplemented by 129% year-over-year growth in revenue derived from international partners and Open Market devices.

Looking ahead into the first quarter of fiscal 2020, the company expects revenue in the range of $28 million to $28.5 million and adjusted EBITDA in the range of $2.2 million to $2.6 million.

Also read: Understanding of AMD stock 

The company has surpassed 260 million total devices with Ignite installed to date, including more than 29 million devices installed during the fourth quarter. US revenue-per-device increased by 27% year-over-year highlighting continuing strong demand among advertisers for the Digital Turbine platform.

The company expects at the beginning of fiscal 2019 to firmly establish itself as a scalable, high-growth, sustainably-profitable platform business. The strong demand for an enhanced Digital Turbine platform from the carrier, OEM and advertiser partners enabled Digital Turbine to achieve this goal.

Digital Turbine generated nearly $9 million in total adjusted EBITDA during fiscal 2019 while developing several promising new products and adding valuable new partners such as Samsung that provide strategic catalysts for meaningful future growth. As embarking on fiscal 2020 and page forward to the next stage of growth, the company’s primary objective is to efficiently scale the platform.

The company ended fiscal 2019 with a cash balance of $10.9 million and zero total debt, following the conversion of all remaining convertible notes previously outstanding and full repayment of short-term debt.

Shares of Digital Turbine ended Monday’s regular session down 2.39% at $3.68 on the Nasdaq. The stock has risen over 103% in the past year and over 12% in the past three months.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Most Popular

ExxonMobil (XOM) Earnings: Q2 numbers top expectations

Energy giant ExxonMobil Corporation (NYSE: XOM) reported a profit for the second quarter of 2021, compared to a loss last year, even as operating conditions continued to improve. The results

Caterpillar reports a 29% rise in revenue in Q1

Caterpillar Inc (NYSE: CAT) reported second-quarter 2021 financial results before the regular market hours on Friday. The manufacturer of construction machinery and equipment reported Q2 revenue of $12.9 billion, up

Key highlights from Chevron (CVX) Q2 2021 earnings results

Chevron Corporation (NYSE: CVX) reported second-quarter 2021 earnings results today. Total revenues amounted to $37.5 billion compared to $13.4 billion in the year-ago period. The reported net income was $3.1

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top