APPS

MKT CAP:$411M

Digital Turbine, Inc.

Market Cap

$411M

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$3.45-$1.33 (-27.82%)

Apr 23, 2026

Company Details

Digital Turbine, Inc., through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through three segments: On Device Media, In A...

CEO

William Gordon Stone

IPO Date

Jul 6, 2006

Website

www.digitalturbine.com

Key Metrics TTM

Revenue

$503M

-28.7% YoY

Net Income

-$81M

EPS (Diluted)

-$0.77

Free Cash Flow

-$7M

Revenue / Share

$4.72

Gross Margin

45.3%

Operating Margin

-8.5%

Net Margin

-16.1%

FCF Margin

-1.4%

P/S

0.8x

P/E

—

Earnings Reports

Q1 2026

Aug 5, 2025

$131MEPS -$0.13

FY 2025

Jun 16, 2025

$491MEPS -$0.89

Q4 2025

Jun 16, 2025

$119MEPS -$0.18

Q3 2025

Feb 5, 2025

$135MEPS -$0.22

Q2 2025

Nov 6, 2024

$119MEPS -$0.24

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 17	$24M	$3M	-$6M
Q2 17	$23M	$3M	-$6M
Q3 17	$22M	$3M	-$5M
Q4 17	$22M	$4M	-$4M
Q1 21	$59M	$26M	$11M
Q2 21	$71M	$30M	$12M
Q3 21	$89M	$38M	$21M
Q4 21	$95M	$39M	$16M
Q1 22	$158M	$70M	$19M
Q4 22	$184M	$89M	$27M
Q1 23	$189M	$92M	$24M
Q2 23	$175M	$89M	$21M
Q2 25	$119M	$54M	-$14M
Q3 25	$135M	$56M	-$13M
Q4 25	$119M	$57M	-$12M
Q1 26	$131M	$62M	-$5M

Valuation

Quarter	P/S	P/E
Q1 17	—	—
Q2 17	—	—
Q3 17	4.5x	—
Q4 17	4.5x	—
Q1 21	3.2x	—
Q2 21	2.4x	512.5x
Q3 21	1.7x	23.0x
Q4 21	1.3x	7.5x
Q1 22	1.0x	6.9x
Q4 22	0.8x	5.2x
Q1 23	0.7x	5.2x
Q2 23	0.6x	6.7x
Q2 25	0.6x	18.9x
Q3 25	0.7x	—
Q4 25	0.8x	—
Q1 26	0.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 17	-$1M	-$2M
Q2 17	-$2M	-$3M
Q3 17	-$4M	-$4M
Q4 17	$793.0K	$579.0K
Q1 21	$6M	$4M
Q2 21	$24M	$21M
Q3 21	$19M	$17M
Q4 21	$14M	$12M
Q1 22	-$29M	-$33M
Q4 22	$41M	$34M
Q1 23	$37M	$30M
Q2 23	$28M	$21M
Q2 25	-$9M	-$16M
Q3 25	$10M	$3M
Q4 25	$12M	$5M
Q1 26	$9M	$1M

Capital Expenditures

Quarter	CapEx
Q1 17	$472.0K
Q2 17	$643.0K
Q3 17	$266.0K
Q4 17	$214.0K
Q1 21	$2M
Q2 21	$2M
Q3 21	$2M
Q4 21	$3M
Q1 22	$4M
Q4 22	$8M
Q1 23	$6M
Q2 23	$7M
Q2 25	$7M
Q3 25	$7M
Q4 25	$7M
Q1 26	$8M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 17	-2.8%	-7.6%
Q1 21	+145.5%	+58.7%
Q2 21	+210.5%	+101.7%
Q3 21	+297.5%	+145.8%
Q4 21	+324.5%	+201.4%
Q1 22	+167.9%	+187.1%
Q4 22	+159.7%	+166.6%
Q1 23	+112.9%	+141.2%
Q2 23	+83.9%	+94.3%
Q2 25	-24.9%	-4.8%
Q3 25	-26.9%	-5.9%
Q4 25	-36.8%	-20.3%
Q1 26	-25.1%	-11.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 17	$1M	5.4%
Q2 17	$1M	5.1%
Q3 17	$1M	5.1%
Q4 17	$535.0K	2.4%
Q1 21	$2M	2.7%
Q2 21	$3M	3.5%
Q3 21	$160.0K	0.2%
Q4 21	$2M	1.7%
Q1 22	$4M	2.3%
Q4 22	$4M	2.1%
Q1 23	$6M	3.3%
Q2 23	$6M	3.3%
Q2 25	$9M	7.6%
Q3 25	$8M	6.1%
Q4 25	$8M	6.8%
Q1 26	$6M	4.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 17	$3M	$5M	$1M
Q2 17	$3M	$5M	$2M
Q3 17	$3M	$4M	$2M
Q4 17	$3M	$3M	$2M
Q1 21	$4M	$7M	$4M
Q2 21	$4M	$9M	$5M
Q3 21	$5M	$7M	$5M
Q4 21	$6M	$12M	$5M
Q1 22	$13M	$24M	$14M
Q4 22	$12M	$34M	$16M
Q1 23	$14M	$38M	$16M
Q2 23	$15M	$37M	$15M
Q2 25	$9M	$42M	$16M
Q3 25	$10M	$43M	$15M
Q4 25	$9M	$45M	$14M
Q1 26	$10M	$43M	$14M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 17	—	-18.1%	—
Q2 17	—	-22.1%	—
Q3 17	—	2.5%	—
Q4 17	-2.8%	-21.4%	-24.1
Q1 21	145.5%	20.6%	166.1
Q2 21	210.5%	19.5%	230.0
Q3 21	297.5%	25.2%	322.8
Q4 21	324.5%	18.9%	343.5
Q1 22	167.9%	17.6%	185.5
Q4 22	159.7%	23.9%	183.6
Q1 23	112.9%	23.5%	136.4
Q2 23	83.9%	23.5%	107.4
Q2 25	-24.9%	4.9%	-20.0
Q3 25	-26.9%	5.0%	-21.8
Q4 25	-36.8%	10.3%	-26.5
Q1 26	-25.1%	12.2%	-13.0

Rule of 40

Revenue Segments

Quarter	Advertising	Content
Q1 17	$13M	$11M
Q2 17	$15M	$8M
Q3 17	$16M	$6M
Q4 17	$15M	$7M

Revenue by Geography

Quarter	Asia Pacific	Emea	Latin America	North America
Q1 17	$13M	$4M	$216.0K	$7M
Q2 17	$10M	$4M	$416.0K	$9M
Q3 17	$10M	$4M	$767.0K	$8M
Q4 17	$11M	$2M	$964.0K	$7M
Q1 21	$5M	$15M	$206.0K	$38M
Q2 21	$6M	$18M	$346.0K	$47M
Q3 21	$7M	$21M	$1M	$59M
Q4 21	$17M	$26M	$4M	$49M
Q1 23	$20M	$60M	$2M	$109M
Q2 23	$19M	$65M	$2M	$91M
Q2 25	$23M	$39M	$1M	$57M
Q3 25	$28M	$43M	$1M	$64M
Q4 25	$28M	$39M	$1M	$52M
Q1 26	$39M	$37M	$1M	$54M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$127M	$0	$127M
Q1 23	$90M	$0	$90M
Q2 23	$83M	$0	$83M
Q3 23	$80M	$0	$80M
Q4 23	$76M	$0	$76M
Q1 24	$59M	$0	$59M
Q2 24	$59M	$0	$59M
Q3 24	$49M	$0	$49M
Q4 24	$34M	$0	$34M
Q1 25	$36M	$0	$36M
Q2 25	$33M	$0	$33M
Q3 25	$35M	$0	$35M
Q4 25	$40M	$0	$40M
Q1 26	$34M	$0	$34M
Q2 26	$39M	$0	$39M
Q3 26	$40M	$0	$40M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 17	66M	+0.0%	—
Q2 17	66M	+0.3%	—
Q3 17	67M	+0.3%	—
Q4 17	67M	-0.1%	+0.5%
Q1 21	93M	+39.8%	+40.5%
Q2 21	96M	+3.2%	+44.5%
Q3 21	97M	+1.0%	+45.5%
Q4 21	98M	+0.6%	+46.5%
Q1 22	99M	+1.3%	+6.1%
Q4 22	103M	+3.9%	+6.9%
Q1 23	103M	+0.0%	+5.9%
Q2 23	103M	+0.2%	+5.4%
Q2 25	103M	+0.1%	+4.3%
Q3 25	104M	+1.1%	+1.5%
Q4 25	105M	+1.2%	+2.7%
Q1 26	107M	+1.1%	+3.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 17	$149.3K	161
Q2 17	$141.8K	161
Q3 17	$138.4K	161
Q4 17	$153.4K	146
Q1 21	$285.1K	207
Q2 21	$342.5K	207
Q3 21	$428.0K	207
Q4 21	$339.6K	280
Q1 22	$564.6K	280
Q4 22	$218.2K	844
Q1 23	$223.5K	844
Q2 23	$207.2K	844
Q2 25	$157.5K	754
Q3 25	$178.6K	754
Q4 25	$184.2K	647
Q1 26	$202.4K	647

Revenue / Employee