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

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Tags

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