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Digital Turbine posts $10.3M profit in fiscal Q2 2027

For fiscal 2027, Digital Turbine expects revenue of $670 million to $690 million and adjusted EBITDA of $145 million to $155 million.

Available on EDGAR Accepted by SEC EDGAR
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(High)
Filing Sentiment

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Form Type
8-K

Rhea-AI Filing Summary

Digital Turbine, Inc. reported fiscal 2027 second-quarter revenue of $178.7 million, up 27% year over year. On Device Solutions revenue before intercompany eliminations was $115.6 million, up 20%, while App Growth Platform revenue before eliminations was $63.5 million, up 42%. GAAP net income was $10.3 million, versus a $21.4 million loss a year earlier; non-GAAP adjusted net income was $23.4 million versus $16.5 million, and adjusted EBITDA was $39.8 million, up 46%. Non-GAAP free cash flow was $10.5 million.

For fiscal 2027, the company expects revenue of $670 million to $690 million and non-GAAP adjusted EBITDA of $145 million to $155 million. It revised prior-period financial statements for an immaterial $3.5 million understatement of revenue share expense for the three months ended June 30, 2026, with a corresponding understatement of accrued revenue share liabilities. The company said the adjustment did not affect previously reported operating cash flow or debt-covenant compliance and was not material to prior interim results; adjusted statements will be included in its Form 10-Q as of September 30, 2026.

3 points · 0 major

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 0 points

How the balance works

Positive

  • Moderate pointRevenue grew 27% to $178.7 million year over year.
  • Moderate pointAdjusted EBITDA rose 46% to $39.8 million year over year.
  • Moderate pointGAAP net income was $10.3 million, versus a $21.4 million loss.

Negative

  • None.

Filing Explained

As of September 30, 2026, Digital Turbine reported $51,620 thousand in cash, cash equivalents and restricted cash, alongside $9,375 thousand in current debt and $344,230 thousand in long-term debt, net.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Revenue $178.7 million Fiscal 2027 second quarter; up 27% year over year
GAAP net income $10.3 million Fiscal 2027 second quarter; compared with a $21.4 million net loss a year earlier
Non-GAAP adjusted net income $23.4 million Fiscal 2027 second quarter; compared with $16.5 million in fiscal 2026 second quarter
Non-GAAP adjusted EBITDA $39.8 million Fiscal 2027 second quarter; up 46% year over year
Non-GAAP free cash flow $10.5 million Fiscal 2027 second quarter
Fiscal 2027 revenue outlook $670 million to $690 million Company expectation based on information available as of November 9, 2026
Fiscal 2027 non-GAAP adjusted EBITDA outlook $145 million to $155 million Company expectation based on information available as of November 9, 2026
non-GAAP adjusted EBITDA financial
"Non-GAAP adjusted EBITDA is calculated as GAAP net income"
Non-GAAP adjusted EBITDA is a measure of a company's profitability that shows earnings before interest, taxes, depreciation, and amortization, with certain adjustments made to exclude irregular or non-recurring expenses and income. It provides a clearer picture of ongoing operational performance by filtering out items that might distort the core business results. Investors use it to better compare how well different companies are performing without the noise of one-time events.
non-GAAP free cash flow financial
"Non-GAAP free cash flow is defined as net cash provided by operating activities"
Non-GAAP free cash flow is a company’s reported cash generated from operations after paying for routine investments in property and equipment, adjusted by management to exclude or include certain items that aren’t part of standard accounting rules. Investors watch it as a practical measure of the cash a business has available for dividends, stock buybacks, debt repayment or reinvestment — like a household’s usable savings after adjusting for one-time or unusual expenses — but calculations vary between firms, so comparisons require caution.
revenue share expense financial
"understatement of revenue share expense in the amount of $3.5 million"
Revenue share expense is the portion of a company’s sales that it pays out to others — for example partners, platforms, distributors or content creators — as a commission or agreed cut. It matters to investors because these payments reduce the money the business keeps from each sale, directly lowering profit margins and affecting how scalable and profitable growth will be, much like paying a toll on every trip reduces your net earnings.
intercompany eliminations financial
"net revenue before intercompany eliminations"
Adjusting entries made when preparing consolidated financial statements to remove the effects of transactions and balances between entities in the same corporate group. These eliminations reverse intercompany sales and related cost of goods sold, receivables and payables, loans and interest, dividends and investment accounts, and any unrealized profit on internal transfers so the consolidated statements report only transactions with parties outside the group.
Revenue $178.7 million Up 27% year over year from $140.4 million
GAAP net income $10.3 million Compared with a net loss of $21.4 million in fiscal 2026 second quarter
Non-GAAP adjusted net income $23.4 million Compared with $16.5 million in fiscal 2026 second quarter
Non-GAAP adjusted EBITDA $39.8 million Up 46% year over year from $27.2 million
Guidance

The company expects fiscal 2027 revenue of $670 million to $690 million and non-GAAP adjusted EBITDA of $145 million to $155 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue did APPS report in fiscal 2027's second quarter?
APPS reported $178.7 million in revenue for the fiscal 2027 second quarter, up 27% year over year from $140.4 million.

What is APPS's fiscal 2027 revenue and adjusted EBITDA outlook?
Digital Turbine expects fiscal 2027 revenue of $670 million to $690 million and non-GAAP adjusted EBITDA of $145 million to $155 million.

What prior-period adjustment did APPS report?
The company revised prior-period statements for an immaterial $3.5 million understatement of revenue share expense for the three months ended June 30, 2026, and a corresponding understatement of accrued revenue share liabilities. It said the adjustment did not affect previously reported operating cash flow or debt-covenant compliance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false0000317788110 San Antonio Street,Austin,Suite 160,TX00003177882026-05-262026-05-26

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): November 9, 2026
logo.jpg
Digital Turbine, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware001-3595822-2267658
(State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification No.)
110 San Antonio Street, Suite 160, Austin, TX
78701
(Address of Principal Executive Offices)(Zip Code)
 
(512) 387-7717
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions. (see General Instruction A.2. below)
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common StockAPPSNASDAQ
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02     Results of Operations and Financial Condition
On November 9, 2026, Digital Turbine, Inc. ("the Company") issued a press release announcing financial results for the quarter ended September 30, 2026. The text of the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filings.
This Form 8-K and the attached press release contain statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates, and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors and risks discussed from time to time in our SEC filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
The attached press release includes non-GAAP financial measures relating to our operations and forecasted outlook. Certain of these non-GAAP terms will be used in our upcoming earnings conference call. In addition, the attached press release includes reconciliations of these GAAP to non-GAAP measures, as well as an explanation of how management uses these non-GAAP measures and the reasons why management views these measures as providing useful information for investors. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from our results should be carefully evaluated.
Item 9.01        Financial Statements and Exhibits
(d) Exhibits
Exhibit No.Description
99.1
Press release dated November 9, 2026, as issued by Digital Turbine, Inc., announcing financial results.
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
November 9, 2026
Digital Turbine, Inc.
By:/s/ Joshua Kinsell
Joshua Kinsell
Chief Financial Officer (Interim) and Chief Accounting Officer

logoa.jpg


Digital Turbine Reports Strong Fiscal 2027 Second Quarter Financial Results
Second Quarter Net Revenue Totaled $178.7 Million, Representing Year-over-Year Growth of 27%
Second Quarter GAAP Net Income of $10.3 Million and diluted GAAP EPS of $0.06; Second Quarter Non-GAAP Adjusted Net Income1 of $23.4 Million and Non-GAAP Adjusted EPS1 of $0.18
Second Quarter Non-GAAP Adjusted EBITDA2 Totaled $39.8 Million, Representing Year-over-Year Growth of 46%
Austin, TX – November 9, 2026 – Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal second quarter ended September 30, 2026.
Recent Financial Highlights:
•Fiscal second quarter of 2027 revenue totaled $178.7 million, representing an increase of 27% year-over-year as compared to the fiscal second quarter of 2026.
•GAAP net income for the fiscal second quarter of 2027 was $10.3 million, or $0.06 per diluted share. Non-GAAP adjusted net income1 for the fiscal second quarter of 2027 was $23.4 million, or $0.18 per share, as compared to non-GAAP adjusted net income1 of $16.5 million, or $0.15 per share, in the fiscal second quarter of 2026.
•Non-GAAP adjusted EBITDA2 for the fiscal second quarter of 2027 was $39.8 million, representing an increase of 46% year-over-year as compared to non-GAAP adjusted EBITDA2 of $27.2 million in the fiscal second quarter of 2026.
•Non-GAAP free cash flow3 totaled $10.5 million in the fiscal second quarter of 2027.
“Our strong second quarter results are further testament to the positive momentum underlying the business,” said Bill Stone, CE    O. “Our team’s focused execution continues to accelerate the flywheel effect, whereby data- and AI-driven improvements are self-sustaining greater overall platform performance across all aspects of the business, which in turn is attracting higher levels of partner adoption and advertiser investment across the platform. The resultant 20+% revenue growth in both our ODS segment and AGP segment during the second quarter, along with operating leverage efficiencies, enabled us to achieve 46% adjusted EBITDA growth in the quarter. The stronger-than-expected second quarter performance and continuing flywheel momentum provide us with greater conviction that Digital Turbine has the right team, platform, market position, and vision to fully exploit the wealth of opportunities directly in front of us.”
Fiscal 2027 Second Quarter Financial Results
Total revenue for the second quarter of fiscal 2027 was $178.7 million, representing year-over-

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 2
year growth of 27% as compared to total revenue of $140.4 million for the second quarter of fiscal 2026. Total On Device Solutions net revenue before intercompany eliminations was $115.6 million, representing year-over-year growth of 20%. Total App Growth Platform net revenue before intercompany eliminations was $63.5 million, representing year-over year growth of 42%.
GAAP net income for the second quarter of fiscal 2027 was $10.3 million, or $0.06 per diluted share, as compared to GAAP net loss for the second quarter of fiscal 2026 of $21.4 million, or $(0.20) per share.
Non-GAAP adjusted net income1 for the second quarter of fiscal 2027 was $23.4 million, or $0.18 per share, as compared to non-GAAP adjusted net income1 of $16.5 million, or $0.15 per share, in the second quarter of fiscal 2026.
Non-GAAP adjusted EBITDA2 for the second quarter of fiscal 2027 was $39.8 million, representing year-over-year growth of 46% as compared to non-GAAP adjusted EBITDA2 for the second quarter of fiscal 2026 of $27.2 million.
Business Outlook
Based on information available as of November 9, 2026, the Company currently expects the following for fiscal year 2027:
•Revenue of between $670 million and $690 million
•Non-GAAP adjusted EBITDA2 of between $145 million and $155 million
It is not reasonably practicable to provide a business outlook for GAAP net income because the Company cannot reasonably estimate the changes in stock-based compensation expense, which is directly impacted by changes in the Company’s stock price, or other items that are difficult to predict with precision.
About Digital Turbine, Inc.
Digital Turbine empowers superior mobile consumer experiences and results for the world’s leading telcos, advertisers, and publishers. Its end-to-end platform uniquely simplifies its partners’ abilities to supercharge awareness, acquisition, and monetization – connecting them with more consumers, in more ways, across more devices. Digital Turbine is headquartered in North America, with offices around the world. For additional information visit www.digitalturbine.com.




Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 3
Conference Call
Management will host a conference call and webcast today at 4:30pm ET/1:30p PT to discuss its fiscal 2027 second quarter results and provide operational updates on the business. The conference call will discuss forward guidance and other material information. The call can be accessed via webcast link: https://app.webinar.net/AQjXr7E0lMd. The call can also be accessed by dialing 888-317-6003 in the United States (or 412-317-6061 from international locations) and entering access code 0136244. A live and archived webcast of the call can be accessed via the Investor Relations section of Digital Turbine’s website. The webcast will be archived for a period of one year and is available via the Investor Relations section of Digital Turbine’s website.
For those unable to join the live call, a playback will be available through November 16th, 2026. The replay can be accessed by dialing 855-669-9658 in the United States or 412-317-0088 from international locations, passcode 1562528.
An online webcast will be archived for a period of one year and is available via the Investor Relations section of Digital Turbine’s website.
Use of Non-GAAP Financial Measures
To supplement the Company’s consolidated financial statements presented in accordance with GAAP, Digital Turbine uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP adjusted net income and earnings per share (“EPS”), non-GAAP adjusted EBITDA, non-GAAP free cash flow and non-GAAP gross profit. Reconciliations to the nearest GAAP measures of all non-GAAP measures included in this press release can be found in the tables below.
Non-GAAP measures are provided to enhance investors’ overall understanding of the Company’s current financial performance, prospects for the future and as a means to evaluate period-to-period comparisons. The Company believes that these non-GAAP measures provide meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results. The Company believes the non-GAAP measures that exclude such items when viewed in conjunction with GAAP results and the accompanying reconciliations enhance the comparability of results against prior periods and allow for greater transparency of financial results. The Company believes non-GAAP measures facilitate management’s internal comparison of its financial performance to that of prior periods as well as trend analysis for budgeting and planning purposes. The presentation of non-GAAP measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
1Non-GAAP adjusted net income (loss) and EPS are defined as GAAP net income (loss) and EPS adjusted to exclude the effect of the following, if any: stock-based compensation expense, amortization of intangibles, business transformation costs, transaction related expenses, severance costs, impairment of goodwill, contract settlement fees, tax adjustments, (gain)/loss on

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 4
extinguishment of debt, amortization of debt discount, issuance costs and exit and duration fees, unrealized (gain)/loss on derivatives, non-cash fair value adjustments to non-marketable equity securities and (gain)/loss on the disposition of assets other than in the ordinary course of business. The Company added non-cash fair value adjustments to non-marketable securities and (gain)/loss on disposition of assets other than in the ordinary course of business as described in footnote 2 to the reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income below, as these items are one-time adjustments that are non-recurring in nature. Readers are cautioned that non-GAAP adjusted net income (loss) and EPS should not be construed as an alternative to comparable GAAP net income (loss) figures determined in accordance with U.S. GAAP as an indicator of profitability or performance, which is the most comparable measure under GAAP.
2Non-GAAP adjusted EBITDA is calculated as GAAP net income (loss) excluding the following cash and non-cash expenses, if any: stock-based compensation expense, depreciation and amortization, net interest income (expense), net other income (expense), business transformation costs, foreign exchange transaction gains (losses), income tax expense (benefit), transaction related expenses, impairment of goodwill, contract settlement fees, severance costs, (gain)/loss on extinguishment of debt, and unrealized (gain)/loss on derivatives. Non-GAAP adjusted EBITDA margin is calculated as non-GAAP adjusted EBITDA as a percentage of total revenue. Readers are cautioned that non-GAAP adjusted EBITDA should not be construed as an alternative to net income determined in accordance with U.S. GAAP as an indicator of performance, which is the most comparable measure under GAAP.
3Non-GAAP free cash flow, which is a non-GAAP financial measure, is defined as net cash provided by operating activities (as stated in our Consolidated Statements of Cash Flows), excluding the following, if any: transaction-related expenses, severance costs and business transformation costs, reduced by capital expenditures. Readers are cautioned that free cash flow should not be construed as an alternative to net cash provided by operating activities determined in accordance with U.S. GAAP as an indicator of profitability, performance or liquidity, which is the most comparable measure under GAAP.
4Non-GAAP gross profit is defined as GAAP income (loss) from operations adjusted to exclude the effect of the following, if any: product development costs, sales and marketing costs, general and administrative costs, impairment of goodwill, and depreciation of software included in other direct costs of revenue. Readers are cautioned that non-GAAP gross profit should not be construed as an alternative to income from operations determined in accordance with U.S. GAAP as an indicator of profitability or performance, which is the most comparable measure under GAAP.
Non-GAAP adjusted EBITDA, non-GAAP adjusted net income and EPS, non-GAAP free cash flow and non-GAAP gross profit are used by management as internal measures of profitability and performance. They have been included because the Company believes that the measures are used by certain investors to assess the Company’s financial performance before non-cash charges and certain costs that the Company does not believe are reflective of its underlying business.


Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 5
Revision of Prior Period Financial Statements
The Company has revised, during the current quarter, its previously issued financial statements as it identified immaterial adjustments resulting in incremental costs related to its contractual revenue share obligations that originated in prior periods. This resulted in an understatement of revenue share expense in the amount of $3.5 million for the three months ended June 30, 2026 and a corresponding understatement of its accrued revenue share liabilities. This adjustment did not impact the Company's previously reported net cash provided from operations or compliance with debt covenants and was not material to the previously reported interim results of operations. The adjusted financial statements for the impacted periods noted will be included in the Company’s Form 10-Q as of September 30, 2026.
Forward-Looking Statements
This news release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release that are not statements of historical fact and that concern future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events, including financial projections and growth in various products are forward-looking statements that speak only as of the date made and which involve known and unknown risks, uncertainties and other factors which may, should one or more of these risks uncertainties or other factors materialize, cause actual results to differ materially from those expressed or implied by such statements. These factors and risks include:
Risks Specific to our Business
•We may not achieve the expected benefits of our transformation program and similar measures we take in the future, and our efforts may adversely affect our business.
•We have a history of net losses.
•We have a limited operating history for our current portfolio of assets.
•Our operations are global in scope, and we face added business, political, regulatory, legal, operational, financial, and economic risks as a result of our international operations.
•Our financial results could vary significantly from quarter-to-quarter and are difficult to predict.
•A significant portion of our revenue is derived from a limited number of wireless carriers and customers.
•The development and use of artificial intelligence (“AI”) in our business, combined with an uncertain regulatory environment, may adversely affect our business, reputation, financial condition, and results of operations.
•System security risks, data protection breaches, cyber-attacks, and systems integration issues could disrupt our business.
•Our business may involve the use, transmission, and storage of confidential information and personally identifiable information, and the failure to properly safeguard such information could result in significant reputational harm and monetary damages.

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 6
•The effects of the current and any future general downturns in the United States (“U.S”). and the global economy, including financial market disruptions.
•Our products, services, and systems rely on software that is highly technical, and if it contains errors or viruses, our business could be adversely affected.
•Our business and reputation could be impacted by information technology system failures and network disruptions
•Our business may suffer if we are unable to hire and retain key talent.
•Our corporate culture has contributed to our success, and if we cannot maintain this culture, we could lose the innovation, creativity, passion, and teamwork that we believe contribute to our success and our business may be harmed.
•If we make future acquisitions, this could require significant management attention and disrupt our business.
•Adverse developments affecting the financial services industry, including events involving liquidity, defaults or non-performance, could adversely affect our business, financial condition, and results of operations.
•Entry into new lines of business, and our offering of new products and services, resulting from our investments may result in exposure to new risks.
•Litigation may harm our business.
Risks Related to the Mobile Advertising Industry
•The mobile advertising business is an intensely competitive industry, and we may not be able to compete successfully.
•The markets for our products and services are rapidly evolving and may decline or experience limited growth.
•Our business is dependent on the continued growth in usage of smartphones and other mobile connected devices.
•Wireless technologies are changing rapidly, and we may not be successful in working with these new technologies.
•The complexity of and incompatibilities among mobile devices may require us to use additional resources for the development of our products and services.
•If wireless subscribers do not continue to use their mobile devices to access mobile content and other applications, our business growth and future revenue may be adversely affected.
•A shift of technology platform by wireless carriers and mobile device manufacturers could lengthen the development period for our offerings, increase our costs, and cause our offerings to be published later than anticipated.
•Actual or perceived security vulnerabilities in devices or wireless networks could adversely affect our revenue.
•We may be subject to legal liability associated with providing mobile and online services.
•Risks of public health issues, such as a major epidemic or pandemic.
•Risk related to geopolitical conditions and the global economy, including conflicts, financial markets, inflation, global supply chain, and tariffs.
•Risk related to the geopolitical relationship between the U.S. and China or changes in China’s economic and regulatory landscape, including recent tariff increases and trade tensions.

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 7
•Changes to the policies, technologies, practices of, or the laws and regulations that govern, third-party platforms and other ecosystem participants could materially limit our ability to deliver, measure and monetize advertising.
Risks Related to Laws and Regulations
•We are subject to rapidly changing and increasingly stringent laws, regulations and contractual requirements related to privacy, data security, and protection of children.
•We are subject to anti-bribery, anti-corruption, and similar laws, and non-compliance with such laws can subject us to criminal penalties or significant fines and harm our business and reputation.
•We are subject to governmental economic sanction requirements and export and import controls that could impair our ability to compete in international markets.
•Our ability to use our net operating losses, credits, and certain other tax attributes to offset future taxable income or taxes may be subject to certain limitations.
•Regulatory requirements pertaining to the marketing, advertising, and promotion of our products and services.
•Government regulation of our marketing methods could restrict or prevent our ability to adequately advertise and promote our content, products, and services available in certain jurisdictions.
Risks Related to Our Intellectual Property and Potential Liability
•Third parties may obtain and improperly use our intellectual property; and if so, our competitive position may be adversely affected, particularly if we do not, or are unable to, adequately protect our intellectual property rights.
•Third parties may sue us for intellectual property infringement, which may prevent or limit our use of the intellectual property and disrupt our business and could require us to pay significant damage awards.
•Our platform contains open source software.
•Indemnity provisions in various agreements potentially expose us to substantial liability for intellectual property infringement, damages caused by malicious software, and other losses.
Risks Relating to Our Common Stock and Capital Structure
•We have significant indebtedness, which could limit our financial flexibility.
•To service our debt and fund our other obligations and capital requirements, we will require a significant amount of cash, and our ability to generate cash will depend on many factors beyond our control.
•The market price of our common stock is likely to be highly volatile and subject to wide fluctuations, and you may be unable to resell your shares at or above the current price or the price at which you purchased your shares.
•Risk of not being able to raise capital to grow our business.
•Risk to trading volume of lack of securities or industry analysts research coverage.
•If our goodwill becomes impaired, we may be required to record significant charges to earnings.

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 8
•A material weakness in our internal control over financial reporting and disclosure controls and procedures could, if not remediated, result in material misstatements in our financial statements.
•Maintaining and improving financial controls and being a public company may strain resources.
•Anti-takeover provisions in our charter documents could make an acquisition of our company more difficult.
•Our bylaws designate Delaware as the exclusive forum for certain disputes.
For further information over our risks, see the risk factors in Item 1A of Annual Report, filed May 26, 2026, under the heading “Risk Factors.”
You should not place undue reliance on these forward-looking statements. The Company does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations Contact:
Brian Bartholomew
Digital Turbine, Inc.
brian.bartholomew@digitalturbine.com
SOURCE Digital Turbine, Inc.

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 9
Digital Turbine, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
(in thousands, except share and per share amounts)
(Unaudited)
Three Months Ended
September 30,		Six Months Ended
September 30,
2026202520262025
Net revenue$178,683 $140,377 $344,666 $271,303 
Costs of revenue and operating expenses
Revenue share87,719 63,093 160,702 121,231 
Other direct costs of revenue13,565 11,242 26,529 22,046 
Product development9,949 10,979 20,539 21,126 
Sales and marketing14,449 14,446 29,782 28,035 
General and administrative32,694 34,083 65,681 76,992 
Total costs of revenue and operating expenses158,376 133,843 303,233 269,430 
Income from operations20,307 6,534 41,433 1,873 
Interest and other (income) expense, net
Interest expense, net(1)
14,214 14,276 27,104 24,230 
Unrealized (gain) loss on derivatives(2,193)2,335 8,606 2,335 
Foreign exchange transaction (gain) loss88 (1,136)(593)(222)
Loss on extinguishment of debt— 9,795 — 9,795 
Other (income) expense, net(4,755)1,207 4,339 1,875 
Total interest and other expense, net7,354 26,477 39,456 38,013 
Income (loss) before taxes12,953 (19,943)1,977 (36,140)
Income tax expense (benefit)2,670 1,452 4,958 (641)
Net income (loss)10,283 (21,395)(2,981)(35,499)
Other comprehensive income (loss)
Foreign currency translation (gain) loss666 2,204 1,840 (1,996)
Comprehensive income (loss)$9,617 $(23,599)$(4,821)$(33,503)
Net income (loss) per share
Basic$0.08 $(0.20)$(0.02)$(0.33)
Diluted$0.06 $(0.20)$(0.02)$(0.33)
Weighted average common shares outstanding
Basic121,286 109,128 120,979 107,885 
Diluted129,225 109,128 120,979 107,885 
____________
(1) The Company changed its presentation of its amortization of debt discount and issuance costs in its condensed consolidated statements of operations and comprehensive income (loss). Amortization of debt discount and issuance costs was previously presented as a separate line item and is now presented in interest expense, net. Accordingly, prior period amounts have been reclassified to conform to the current period presentation. This reclassification had no effect on net income (loss).

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 10
Digital Turbine, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands, except par value and share amounts)
(Unaudited)
September 30, 2026March 31,
2026
ASSETS
Current assets
Cash, cash equivalents, and restricted cash$51,620 $37,960 
Accounts receivable, net266,404 251,240 
Prepaid expenses4,868 6,060 
Value-added tax receivable3,361 4,461 
Other current assets17,233 12,149 
Total current assets343,486 311,870 
Property and equipment, net49,363 49,111 
Right-of-use assets7,222 7,739 
Intangible assets, net199,447 217,448 
Goodwill222,725 223,053 
Other non-current assets22,541 32,433 
TOTAL ASSETS$844,784 $841,654 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable$127,952 $129,491 
Accrued revenue share107,252 95,116 
Accrued compensation12,989 22,408 
Acquisition purchase price liabilities436 436 
Current portion of long-term debt9,375 7,031 
Other current liabilities16,596 14,671 
Total current liabilities274,600 269,153 
Long-term debt, net344,230 353,932 
Derivative liabilities10,770 2,164 
Deferred tax liabilities, net13,465 15,818 
Other non-current liabilities4,833 4,838 
Total liabilities647,898 645,905 
Commitments and contingencies
Stockholders’ equity
Series A convertible preferred stock at $0.0001 par value; 2,000,000 shares authorized, 100,000 issued and outstanding (liquidation preference of $1)
100 100 
Common stock, $0.0001 par value: 200,000,000 shares authorized; 122,479,980 issued and 121,721,855 outstanding at September 30, 2026; 121,073,328 issued and 120,315,203 outstanding at March 31, 2026
10 10 
Additional paid-in capital975,020 969,062 
Treasury stock (758,125 shares at September 30, 2026 and March 31, 2026)
(71)(71)
Accumulated other comprehensive loss(53,606)(51,766)
Accumulated deficit(724,567)(721,586)
Total stockholders’ equity196,886 195,749 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$844,784 $841,654 

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 11
Digital Turbine, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
Three Months Ended
September 30,
Six Months Ended
 September 30,
2026202520262025
Cash flows from operating activities:
Net income (loss)$10,283 $(21,395)$(2,981)$(35,499)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization17,015 14,866 33,820 38,203 
Amortization of debt discount, issuance costs, and exit and duration fees3,086 2,778 4,686 3,932 
Provision for credit losses on accounts receivable289 54 566 842 
Unrealized (gain) loss on derivatives(2,193)2,335 8,606 2,335 
Foreign exchange transaction (gain) loss88 (1,136)(593)(222)
Stock-based compensation expense1,981 5,451 4,429 11,718 
Fair value adjustment to non-marketable equity securities— — 9,281 — 
Loss on extinguishment of debt— 9,795 — 9,795 
Non-cash lease expense908 957 1,777 1,747 
Change in deferred income taxes
(1,052)(756)(2,311)41 
Changes in operating assets and liabilities:
Accounts receivable(3,652)(2,284)(15,880)(25,201)
Prepaid expenses1,862 298 1,181 893 
Value-added tax receivable(204)(475)1,075 (843)
Other current assets(155)(1,422)(4,767)(2,149)
Right-of-use asset— 203 — 62 
Other non-current assets(8)384 270 675 
Accounts payable(18,328)(1,269)(1,708)(28,208)
Accrued revenue share10,231 552 12,143 45,045 
Accrued compensation688 3,345 (9,369)5,457 
Other current liabilities(1,214)2,936 (2,811)(3,340)
Other non-current liabilities(782)(757)(712)(2,035)
Net cash provided by operating activities18,843 14,460 36,702 23,248 
Cash flows from investing activities
Proceeds from sale of assets— — 4,700 — 
Capital expenditures(8,889)(7,770)(15,568)(15,386)
Net cash used in investing activities(8,889)(7,770)(10,868)(15,386)
Cash flows from financing activities
Proceeds from borrowings, net of original issue discount— 418,700 — 418,700 
Payment of original debt discount— — (5,000)— 
Payment of debt issuance costs— (10,617)— (19,915)
Payment of deferred business acquisition consideration— (308)— (842)
Repayment of debt obligations(2,344)(421,052)(7,044)(421,092)
Proceeds from issuance of common stock in connection with at-the-market offering, net of issuance costs of $420— 13,573 — 13,573 
Payment of withholding taxes for net share settlement of equity awards(99)(157)(370)(301)
Proceeds from options exercised1,032 85 1,313 1,645 
Net cash provided by (used in) financing activities(1,411)224 (11,101)(8,232)

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 12
Three Months Ended
September 30,
Six Months Ended
 September 30,
2026
2025
2026
2025
Effect of exchange rate changes on cash and cash equivalents and restricted cash(129)(1,762)(1,073)(430)
Net change in cash and cash equivalents and restricted cash8,414 5,152 13,660 (800)
Cash and cash equivalents and restricted cash, beginning of period43,206 34,132 37,960 40,084 
Cash and cash equivalents and restricted cash, end of period$51,620 $39,284 $51,620 $39,284 
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents$51,353 $38,846 $51,353 $38,846 
Restricted cash267 438 $267 $438 
Total cash, cash equivalents, and restricted cash$51,620 $39,284 $51,620 $39,284 
Supplemental disclosure of cash flow information
Interest paid(1)
$11,251 $13,623 $22,836 $22,288 
Income taxes paid$2,186 $1,548 $9,692 $4,614 
Supplemental disclosure of non-cash investing and financing activities
Assets acquired not yet paid$151 $277 $151 $277 
Right-of-use assets obtained in exchange for operating lease liabilities$— $— $1,158 $— 
Stock-based compensation included in capitalized software development costs$283 $479 $586 $1,036 
____________
(1) The Company previously reported interest paid as $13,623 for the six months ended September 30, 2025 in error.
Net Revenue By Segment
(in thousands)
(Unaudited)
Three Months Ended September 30,
Six Months Ended September 30,
20262025% Change20262025% Change
On Device Solutions$115,604 $96,464 20 %$225,600 $191,912 18 %
App Growth Platform63,457 44,685 42 120,053 80,977 48 
Elimination(378)(772)(51)(987)(1,586)(38)
Total net revenue$178,683 $140,377 27 %$344,666 $271,303 27 %






Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 13
GAAP Income (Loss) From Operations to Non-GAAP Gross Profit
(in thousands)
(Unaudited)
Three Months Ended
September 30,
Six Months Ended
September 30,
2026202520262025
Income from operations$20,307 $6,534 $41,433 $1,873 
Add-back items:
Product development$9,949 10,979 20,539 21,126 
Sales and marketing14,449 14,446 29,782 28,035 
General and administrative32,694 34,083 65,681 76,992 
Non-GAAP gross profit$77,399 $66,042 $157,435 $128,026 
Non-GAAP gross profit percentage43 %47 %46 %47 %
GAAP Net Income (Loss) to Non-GAAP Adjusted Net Income
(in thousands)
(Unaudited)
Three Months Ended
September 30,
Six Months Ended
September 30,
2026202520262025
Net income (loss)$10,283 $(21,395)$(2,981)$(35,499)
Add-back items:
Stock-based compensation expense1,981 5,451 4,429 11,718 
Amortization of intangibles8,854 10,410 17,720 23,861 
Tax adjustment(1)
5,580 6,802 7,868 6,802 
Business transformation costs— — — 31 
Severance costs503 341 659 505 
Amortization of debt discount, issuance costs, and exit and duration fees3,086 2,778 4,686 3,932 
Loss on extinguishment of debt— 9,795 — 9,795 
Non-cash fair value adjustment of non-marketable securities— — 9,281 — 
Gain on the disposition of assets other than in the ordinary course of business(2)
(4,700)— (4,700)— 
Unrealized (gain) loss on derivatives(2,193)2,335 8,606 2,335 
Non-GAAP adjusted net income$23,394 $16,517 $45,568 $23,480 
Non-GAAP adjusted net income per common share$0.18 $0.15 $0.36 $0.21 
Weighted average common shares outstanding, diluted129,225 113,009 127,918 111,545 
________
(1) Valuation allowance
(2) The Company recognized a gain of $4.7 million in the three months ended September 30, 2026 relating to the sale of its dormant exchange, originally acquired in connection with the AdColony acquisition in 2021.

Digital Turbine Reports Fiscal 2027 Second Quarter Financial Results
November 9, 2026
Page 14
GAAP Net Income (Loss) to Non-GAAP Adjusted EBITDA
(in thousands)
(Unaudited)
Three Months Ended
September 30,
Six Months Ended
September 30,
2026202520262025
Net income (loss)$10,283 $(21,395)$(2,981)$(35,499)
Add-back items:
Stock-based compensation expense1,981 5,451 4,429 11,718 
Depreciation and amortization17,015 14,866 33,820 38,203 
Interest expense, net14,214 14,276 27,104 24,230 
Other (income) expense, net(4,755)1,207 4,339 1,875 
Business transformation costs— — — 31 
Loss on extinguishment of debt— 9,795 — 9,795 
Foreign exchange transaction gain88 (1,136)(593)(222)
Income tax expense (benefit)2,670 1,452 4,958 (641)
Severance costs503 341 659 505 
Unrealized loss on derivatives(2,193)2,335 8,606 2,335 
Non-GAAP adjusted EBITDA$39,806 $27,192 $80,341 $52,330 
GAAP Cash Flow From Operating Activities to Non-GAAP Free Cash Flow
(in thousands)
(Unaudited)
Three Months Ended
September 30,
Six Months Ended
September 30,
2026202520262025
Net cash provided by operating activities$18,843 $14,460 $36,702 $23,248 
Capital expenditures(8,889)(7,770)(15,568)(15,386)
Severance costs503 341 659 505 
Business transformation costs— — — 31 
Non-GAAP free cash flow provided by operations$10,457 $7,031 $21,793 $8,398 

Source: View Original Filing on SEC EDGAR

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