Digital Turbine Inc Financials

APPS

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE March

Financial Health Signals

Financial Profile 9/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Digital Turbine Inc has an operating margin of -11.0%, meaning the company retains $-11 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -68.8% the prior year.

Growth

Digital Turbine Inc's revenue declined 9.9% year-over-year, from $544.5M to $490.5M. This contraction results in a growth score of 0/100.

Leverage

Digital Turbine Inc has elevated debt relative to equity (D/E of 2.65), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 13/100, reflecting increased financial risk.

Liquidity

Digital Turbine Inc's current ratio of 1.09 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 24/100, which could limit financial flexibility.

Piotroski F-Score Neutral

5/9

Digital Turbine Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-0.13x

For every $1 of reported earnings, Digital Turbine Inc generates $-0.13 in operating cash flow ($11.9M OCF vs -$92.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-1.6x

Digital Turbine Inc earns $-1.6 in operating income for every $1 of interest expense (-$54.1M vs $34.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Digital Turbine Inc (APPS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$490.5M

YoY-9.9%

5Y CAGR+28.7%

10Y CAGR+33.0%

Digital Turbine Inc generated $490.5M in revenue in fiscal year 2025. This represents a decrease of 9.9% from the prior year.

EBITDA

$28.8M

YoY+109.9%

5Y CAGR+13.1%

Digital Turbine Inc's EBITDA was $28.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 109.9% from the prior year.

Free Cash Flow

N/A

Net Income

-$92.1M

YoY+78.1%

Digital Turbine Inc reported -$92.1M in net income in fiscal year 2025. This represents an increase of 78.1% from the prior year.

EPS (Diluted)

$-0.89

YoY+78.6%

Digital Turbine Inc earned $-0.89 per diluted share (EPS) in fiscal year 2025. This represents an increase of 78.6% from the prior year.

Cash & Debt

$39.4M

YoY+19.7%

5Y CAGR+12.8%

10Y CAGR+18.7%

Digital Turbine Inc held $39.4M in cash against $408.7M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

106M

YoY+3.8%

5Y CAGR+4.0%

10Y CAGR+6.4%

Digital Turbine Inc had 106M shares outstanding in fiscal year 2025. This represents an increase of 3.8% from the prior year.

Gross Margin

52.0%

YoY+0.2pp

5Y CAGR+12.3pp

10Y CAGR+30.3pp

Digital Turbine Inc's gross margin was 52.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the prior year.

Operating Margin

-11.0%

YoY+57.8pp

5Y CAGR-20.5pp

10Y CAGR+73.0pp

Digital Turbine Inc's operating margin was -11.0% in fiscal year 2025, reflecting core business profitability. This is up 57.8 percentage points from the prior year.

Net Margin

-18.8%

YoY+58.4pp

5Y CAGR-28.8pp

10Y CAGR+68.5pp

Digital Turbine Inc's net profit margin was -18.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 58.4 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$39.5M

YoY-27.1%

5Y CAGR+26.8%

10Y CAGR+17.4%

Digital Turbine Inc invested $39.5M in research and development in fiscal year 2025. This represents a decrease of 27.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

APPS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$490.5M-9.9%	$544.5M-18.2%	$665.9M-10.9%	$747.6M+138.4%	$313.6M+126.1%	$138.7M
Cost of Revenue	$235.3M-10.3%	$262.2M-15.2%	$309.2M-16.6%	$370.6M+107.5%	$178.6M+113.7%	$83.6M
Gross Profit	$255.2M-9.6%	$282.3M-20.9%	$356.7M-5.4%	$376.9M+179.4%	$134.9M+144.8%	$55.1M
R&D Expenses	$39.5M-27.1%	$54.2M-4.1%	$56.5M+7.1%	$52.7M+162.1%	$20.1M+67.4%	$12.0M
SG&A Expenses	$173.6M+2.4%	$169.6M+9.9%	$154.3M+11.1%	$138.8M+309.1%	$33.9M+97.3%	$17.2M
Operating Income	-$54.1M+85.6%	-$374.4M-911.1%	$46.2M-50.0%	$92.2M+55.8%	$59.2M+348.1%	$13.2M
Interest Expense	$34.8M+12.8%	$30.8M+32.1%	$23.4M+174.9%	$8.5M+714.5%	$1.0M+874.8%	$107K
Income Tax	$4.2M-72.4%	$15.3M+197.6%	$5.1M-38.8%	$8.4M+164.5%	-$13.0M-25.6%	-$10.4M
Net Income	-$92.1M+78.1%	-$420.2M-2620.4%	$16.7M-53.1%	$35.5M-35.2%	$54.9M+294.8%	$13.9M
EPS (Diluted)	$-0.89+78.6%	$-4.16-2700.0%	$0.16-54.3%	$0.35-38.6%	$0.57+256.2%	$0.16

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23	Q2'23
Revenue	$151.4M+7.9%	$140.4M+7.2%	$130.9M-2.8%	$134.6M+13.4%	$118.7M+0.6%	$118.0M-17.3%	$142.6M-0.4%	$143.3M
Cost of Revenue	$64.4M+2.1%	$63.1M+8.5%	$58.1M-16.9%	$69.9M+24.2%	$56.3M+0.9%	$55.8M-20.7%	$70.4M+2.4%	$68.7M
Gross Profit	$87.0M+12.5%	$77.3M+6.2%	$72.8M+12.5%	$64.7M+3.7%	$62.4M+0.3%	$62.2M-14.0%	$72.3M-3.0%	$74.5M
R&D Expenses	$9.9M-9.9%	$11.0M+8.2%	$10.1M-0.5%	$10.2M+8.2%	$9.4M-12.0%	$10.7M-17.8%	$13.0M-7.1%	$14.0M
SG&A Expenses	$28.9M-15.2%	$34.1M-20.6%	$42.9M+0.3%	$42.8M+1.5%	$42.2M-3.1%	$43.5M-4.3%	$45.5M+9.8%	$41.4M
Operating Income	$21.7M+231.4%	$6.5M+240.2%	-$4.7M+63.5%	-$12.8M+5.8%	-$13.5M+15.8%	-$16.1M-73.6%	-$9.3M+93.9%	-$152.6M
Interest Expense	$13.6M+17.9%	$11.5M+15.5%	$10.0M+25.8%	$7.9M-9.8%	$8.8M+6.4%	$8.3M+7.6%	$7.7M-2.3%	$7.8M
Income Tax	$3.2M+122.9%	$1.5M+169.4%	-$2.1M-186.8%	$2.4M+72.3%	$1.4M-20.0%	$1.8M+161.5%	-$2.8M-299.0%	-$713K
Net Income	$5.1M+123.9%	-$21.4M-51.7%	-$14.1M+39.0%	-$23.1M+7.4%	-$25.0M+0.7%	-$25.2M-78.9%	-$14.1M+91.3%	-$161.5M
EPS (Diluted)	$0.03+115.0%	$-0.20-53.8%	$-0.13+40.9%	$-0.22+8.3%	$-0.24+4.0%	$-0.25-78.6%	$-0.14+91.3%	$-1.61

APPS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$812.9M-6.1%	$865.5M-31.7%	$1.3B-13.2%	$1.5B+460.2%	$260.4M+41.5%	$184.0M
Current Assets	$242.8M+0.2%	$242.3M-8.9%	$266.1M-35.2%	$410.9M+321.9%	$97.4M+66.6%	$58.4M
Cash & Equivalents	$39.4M+19.7%	$32.9M-56.1%	$75.1M-40.8%	$126.8M+311.9%	$30.8M+42.9%	$21.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$181.8M-4.8%	$191.0M+7.2%	$178.2M-32.3%	$263.1M+324.5%	$62.0M+87.1%	$33.1M
Goodwill	$221.7M+0.8%	$220.1M-60.8%	$561.6M+0.3%	$559.8M+598.2%	$80.2M+15.8%	$69.3M
Total Liabilities	$658.9M+1.1%	$651.6M-1.2%	$659.3M-30.0%	$942.3M+717.6%	$115.3M+8.2%	$106.6M
Current Liabilities	$222.5M-5.7%	$236.0M+6.8%	$220.9M-42.7%	$385.3M+246.6%	$111.1M+34.2%	$82.8M
Long-Term Debt	$408.7M+6.6%	$383.5M-6.6%	$410.5M-21.2%	$520.8M	$0-100.0%	$18.5M
Total Equity	$154.0M-28.0%	$213.9M-64.7%	$605.2M+17.6%	$514.6M+254.6%	$145.1M+87.4%	$77.5M
Retained Earnings	-$687.4M-15.5%	-$595.3M-240.0%	-$175.1M+8.7%	-$191.8M+15.6%	-$227.3M+19.4%	-$282.2M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23	Q2'23
Total Assets	$858.2M+4.8%	$818.7M0.0%	$818.4M-2.5%	$839.7M-0.6%	$844.5M-1.8%	$860.2M-22.3%	$1.1B+1.4%	$1.1B
Current Assets	$318.1M+18.3%	$269.0M+3.4%	$260.2M+2.4%	$254.1M+4.2%	$243.9M-3.5%	$252.7M-12.0%	$287.3M+6.5%	$269.8M
Cash & Equivalents	$40.2M+3.4%	$38.8M+16.2%	$33.4M-3.4%	$34.6M+7.9%	$32.1M-8.4%	$35.0M-28.4%	$49.0M-15.8%	$58.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$245.3M+19.1%	$205.9M+1.0%	$203.9M+2.2%	$199.5M+4.1%	$191.6M-3.2%	$198.0M-8.8%	$217.2M+11.1%	$195.5M
Goodwill	$223.8M0.0%	$223.8M-0.1%	$223.9M+1.3%	$221.1M0.0%	$221.1M+0.5%	$219.9M-46.5%	$411.1M+0.5%	$409.0M
Total Liabilities	$663.6M-1.0%	$670.5M+0.7%	$666.1M-1.5%	$676.1M+2.1%	$662.1M-0.3%	$664.2M+0.5%	$660.9M+2.7%	$643.3M
Current Liabilities	$288.1M+17.8%	$244.5M+2.9%	$237.7M-1.1%	$240.2M+7.4%	$223.6M-7.0%	$240.4M-10.5%	$268.7M+9.7%	$244.8M
Long-Term Debt	$350.3M-11.0%	$393.8M-1.7%	$400.5M-1.9%	$408.2M+0.1%	$407.6M+3.5%	$393.8M+5.3%	$374.0M-2.5%	$383.8M
Total Equity	$194.6M+31.4%	$148.1M-2.7%	$152.3M-6.9%	$163.6M-10.3%	$182.4M-6.9%	$196.0M-56.0%	$445.7M-0.5%	$447.9M
Retained Earnings	-$717.8M+0.7%	-$722.9M-3.0%	-$701.5M-4.9%	-$668.6M-3.6%	-$645.5M-4.0%	-$620.5M-72.9%	-$358.8M-4.1%	-$344.8M

APPS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$11.9M-58.6%	$28.7M-74.7%	$113.4M+33.8%	$84.7M+34.9%	$62.8M+100.1%	$31.4M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$27.5M+37.3%	-$43.8M-25.0%	-$35.1M+79.6%	-$172.0M-354.9%	-$37.8M+19.1%	-$46.7M
Financing Cash Flow	$23.3M+179.5%	-$29.3M+77.2%	-$128.3M-169.3%	$185.2M+1317.4%	-$15.2M-158.1%	$26.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23	Q2'23
Operating Cash Flow	$14.2M-2.0%	$14.5M+64.5%	$8.8M-15.8%	$10.4M+219.8%	-$8.7M-544.9%	-$1.4M-111.6%	$11.7M-57.5%	$27.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$7.8M-0.2%	-$7.8M-2.0%	-$7.6M-6.9%	-$7.1M+4.7%	-$7.5M-26.1%	-$5.9M+53.4%	-$12.7M-81.7%	-$7.0M
Financing Cash Flow	-$2.1M-1037.5%	$224K+102.6%	-$8.5M-6558.3%	-$127K-100.9%	$13.4M+34.5%	$10.0M+198.9%	-$10.1M+50.2%	-$20.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

APPS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	52.0%+0.2pp	51.8%-1.7pp	53.6%+3.1pp	50.4%+7.4pp	43.0%+3.3pp	39.7%
Operating Margin	-11.0%+57.8pp	-68.8%-75.7pp	6.9%-5.4pp	12.3%-6.5pp	18.9%+9.4pp	9.5%
Net Margin	-18.8%+58.4pp	-77.2%-79.7pp	2.5%-2.3pp	4.8%-12.8pp	17.5%+7.5pp	10.0%
Return on Equity	N/A	N/A	2.8%-4.2pp	6.9%-30.9pp	37.8%+19.9pp	17.9%
Return on Assets	-11.3%+37.2pp	-48.5%-49.9pp	1.3%-1.1pp	2.4%-18.6pp	21.1%+13.5pp	7.5%
Current Ratio	1.09+0.1	1.03-0.2	1.20+0.1	1.07+0.2	0.88+0.2	0.71
Debt-to-Equity	2.65+0.9	1.79+1.1	0.68-0.3	1.01+1.0	0.00-0.2	0.24
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23	Q2'23
Gross Margin	57.5%+2.4pp	55.0%-0.5pp	55.6%+7.5pp	48.0%-4.5pp	52.5%-0.2pp	52.7%+2.0pp	50.7%-1.4pp	52.0%
Operating Margin	14.3%+9.6pp	4.7%+8.2pp	-3.6%+5.9pp	-9.5%+1.9pp	-11.4%+2.2pp	-13.6%-7.1pp	-6.5%+100.0pp	-106.5%
Net Margin	3.4%+18.6pp	-15.2%-4.5pp	-10.8%+6.4pp	-17.2%+3.9pp	-21.0%+0.3pp	-21.3%-11.5pp	-9.9%+102.9pp	-112.7%
Return on Equity	2.6%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	0.6%+3.2pp	-2.6%-0.9pp	-1.7%+1.0pp	-2.8%+0.2pp	-3.0%-0.0pp	-2.9%-1.7pp	-1.3%+13.5pp	-14.8%
Current Ratio	1.100.0	1.100.0	1.09+0.0	1.06-0.0	1.09+0.0	1.05-0.0	1.07-0.0	1.10
Debt-to-Equity	1.80-0.9	2.66+0.0	2.63+0.1	2.50+0.3	2.24+0.2	2.01+1.2	0.84-0.0	0.86
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Digital Turbine Inc's annual revenue?

Digital Turbine Inc (APPS) reported $490.5M in total revenue for fiscal year 2025. This represents a -9.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Digital Turbine Inc's revenue growing?

Digital Turbine Inc (APPS) revenue declined by 9.9% year-over-year, from $544.5M to $490.5M in fiscal year 2025.

Is Digital Turbine Inc profitable?

No, Digital Turbine Inc (APPS) reported a net income of -$92.1M in fiscal year 2025, with a net profit margin of -18.8%.

What is Digital Turbine Inc's earnings per share (EPS)?

Digital Turbine Inc (APPS) reported diluted earnings per share of $-0.89 for fiscal year 2025. This represents a 78.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Digital Turbine Inc's EBITDA?

Digital Turbine Inc (APPS) had EBITDA of $28.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Digital Turbine Inc have?

As of fiscal year 2025, Digital Turbine Inc (APPS) had $39.4M in cash and equivalents against $408.7M in long-term debt.

What is Digital Turbine Inc's gross margin?

Digital Turbine Inc (APPS) had a gross margin of 52.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Digital Turbine Inc's operating margin?

Digital Turbine Inc (APPS) had an operating margin of -11.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Digital Turbine Inc's net profit margin?

Digital Turbine Inc (APPS) had a net profit margin of -18.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Digital Turbine Inc's operating cash flow?

Digital Turbine Inc (APPS) generated $11.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Digital Turbine Inc's total assets?

Digital Turbine Inc (APPS) had $812.9M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Digital Turbine Inc spend on research and development?

Digital Turbine Inc (APPS) invested $39.5M in research and development during fiscal year 2025.

How many shares does Digital Turbine Inc have outstanding?

Digital Turbine Inc (APPS) had 106M shares outstanding as of fiscal year 2025.

What is Digital Turbine Inc's current ratio?

Digital Turbine Inc (APPS) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.

What is Digital Turbine Inc's debt-to-equity ratio?

Digital Turbine Inc (APPS) had a debt-to-equity ratio of 2.65 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Digital Turbine Inc's return on assets (ROA)?

Digital Turbine Inc (APPS) had a return on assets of -11.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Digital Turbine Inc's Piotroski F-Score?

Digital Turbine Inc (APPS) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Digital Turbine Inc's earnings high quality?

Digital Turbine Inc (APPS) has an earnings quality ratio of -0.13x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Digital Turbine Inc cover its interest payments?

Digital Turbine Inc (APPS) has an interest coverage ratio of -1.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Digital Turbine Inc?

Digital Turbine Inc (APPS) scores 9 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.