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Digital Turbine, Inc. (NASDAQ: APPS) is a global leader in providing mobile growth solutions for a diverse range of stakeholders within the mobile application ecosystem, including mobile operators, original equipment manufacturers (OEMs), app advertisers, and mobile publishers. Headquartered in Austin, Texas, with significant global offices in Durham, Berlin, San Francisco, Singapore, Sydney, and Tel Aviv, Digital Turbine's innovative platform connects the mobile ecosystem by delivering apps and content to the right users at the right time.
Digital Turbine's core business is anchored in two primary segments: On Device Solutions and App Growth Platform. Through its On Device Solutions, the company provides white-label billing, content marketplaces, and monetization solutions via app recommendations. The App Growth Platform focuses on end-to-end solutions for app advertisers and publishers to enhance user acquisition, engagement, and monetization. As of recent, Digital Turbine has achieved over 150 million app installs for hundreds of advertisers and serves more than 31 million customers monthly through various global operators.
The company recently expanded its partnership with Xiaomi, aiming to enhance app recommendations for Xiaomi smartphone users worldwide. This collaboration signifies a notable global reach, now delivering innovative solutions to over 800 million devices. Additionally, Digital Turbine has forged a strategic alliance with ONE Store, a major player in Korea's app market, which promises to extend their technology and offerings into new global markets including Taiwan and beyond.
Financially, Digital Turbine has demonstrated robust revenue streams, although it faces certain challenges. For fiscal Q2 2024, the company reported revenues of $143.3 million but also faced a GAAP net loss of $161.5 million, attributed largely to a noncash goodwill impairment charge. Despite these setbacks, the company remains optimistic with strategic investments and a focus on enhancing their on-device presence and direct distribution models. The recent appointment of Michael Akkerman as the Chief Business Officer underscores Digital Turbine's commitment to driving sustained growth and innovation within the mobile growth landscape.
For additional information, please visit www.digitalturbine.com.
Digital Turbine has appointed Michael Akkerman as the new Chief Business Officer. Akkerman's extensive experience in technology growth, advertising, and strategic partnerships will drive the company's global business efforts. He previously led Uber's Mobility Advertising and was Chief Product & Strategy Officer at Cardlytics, enhancing financial institution growth. He also managed global partnerships at Pinterest. Digital Turbine's CEO, Bill Stone, is confident that Akkerman's leadership will align with the company's vision for global expansion and innovation in the mobile growth ecosystem.
Akkerman is excited to join and leverage Digital Turbine's extensive network of over 800 million devices to create unparalleled value in the advertising economy.
Digital Turbine (NASDAQ: APPS) reported its fiscal 2024 fourth quarter and annual financial results.
Fourth quarter revenue reached $112.2 million, a 20% YoY decline. The GAAP net loss was $236.5 million, or $2.32 per share, including a $189.5 million noncash goodwill impairment. Non-GAAP adjusted net income was $12.6 million, or $0.12 per share.
For the full fiscal 2024, revenue totaled $544.5 million. The GAAP net loss was $420.4 million, or $4.16 per share, including a $336.6 million noncash goodwill impairment. Non-GAAP adjusted net income was $60.3 million, or $0.58 per share. Non-GAAP adjusted EBITDA was $92.4 million.
The company anticipates fiscal 2025 revenue between $540 million and $560 million, and Non-GAAP adjusted EBITDA between $85 million and $95 million.
New partnerships are expected to add 70+ million devices globally, and new features and leadership are aimed at future growth.
Digital Turbine (Nasdaq: APPS), a global mobile platform company, announced it will host a conference call and webcast on May 28, 2024, at 4:30pm ET to discuss its fourth quarter and fiscal 2024 financial results and operating progress. The call will be hosted by CEO Bill Stone and CFO Barrett Garrison. Interested parties can access the call via a provided webcast link or by dialing specific phone numbers. A live and archived webcast will be available in the Investor Relations section of Digital Turbine's website for one year.
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