Tearsheet

Digital Turbine (APPS)

Market Price (12/27/2025): $5.18 | Market Cap: $565.3 Mil
Sector: Information Technology | Industry: Application Software

Digital Turbine (APPS)

Market Price (12/27/2025): $5.18
Market Cap: $565.3 Mil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Megatrend and thematic drivers Megatrends include Social Media & Creator Economy, and Digital Advertising. Themes include Ad-Tech Platforms.	Weak multi-year price returns 2Y Excs Rtn is -70%, 3Y Excs Rtn is -146%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -23 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.3%
1			Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 64%
2			Stock price has recently run up significantly 12M Rtn12 month market price return is 160%
3			Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%
4			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18%
5			High stock price volatility Vol 12M is 148%
6			Key risks APPS key risks include [1] significant profitability challenges and a substantial debt load, Show more.

0	Megatrend and thematic drivers Megatrends include Social Media & Creator Economy, and Digital Advertising. Themes include Ad-Tech Platforms.
1	Weak multi-year price returns 2Y Excs Rtn is -70%, 3Y Excs Rtn is -146%
2	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -23 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.3%
3	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 64%
4	Stock price has recently run up significantly 12M Rtn12 month market price return is 160%
5	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18%
7	High stock price volatility Vol 12M is 148%
8	Key risks APPS key risks include [1] significant profitability challenges and a substantial debt load, Show more.

Valuation, Metrics & Events

	12/27/25	2024	2023	2022
Share Price CYE	$5.18	$1.69	$6.86	$15.24
Market Cap CYE ($ Mil)	565.3	176.0	695.4	1,510.4
Total Debt ($ Mil)	404.9	418.2	392.3	410.5
Total Cash ($ Mil)	39.3	40.1	33.6	75.6
Enterprise Value ($ Mil)	930.9	594.2	1,087.7	1,920.9
Valuation Ratios
P/S TTM	1.1	0.4	1.3	2.3
P/EBIT TTM	-15.4	-3.2	-18.3	32.6
P/E TTM	-7.3	-1.9	-1.6	90.3
P/FCF TTM	35.9	-11.2	157.5	16.8
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6
P/EBIT TTM (Sector)	3.0	2.3	-0.2	-0.7
P/E TTM (Sector)	-0.2	-0.3	-0.5	-0.8
P/FCF TTM (Sector)	12.3	13.7	12.2	6.9

	12/27/25	2024	2023
Share Price CYE	$5.18	$1.69	$6.86
Market Cap CYE ($ Mil)	565.3	176.0	695.4
Total Debt ($ Mil)	404.9	418.2	392.3
Total Cash ($ Mil)	39.3	40.1	33.6
Enterprise Value ($ Mil)	930.9	594.2	1,087.7
Valuation Ratios
P/S TTM	1.1	0.4	1.3
P/EBIT TTM	-15.4	-3.2	-18.3
P/E TTM	-7.3	-1.9	-1.6
P/FCF TTM	35.9	-11.2	157.5
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9
P/EBIT TTM (Sector)	3.0	2.3	-0.2
P/E TTM (Sector)	-0.2	-0.3	-0.5
P/FCF TTM (Sector)	12.3	13.7	12.2

	APPS	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	0.5
Rev Chg Q	18.2%	7.3%
Rev Chg LTM	6.8%	6.1%
Rev Chg 3Y Avg	-10.9%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	0.0
Net Inc LTM ($ Bil)	-0.1
Op Mgn LTM	-4.3%	18.8%
CFO/Rev LTM	8.6%	20.4%
Net Inc Mgn	-14.8%	13.1%
VALUATION	MODERATE
P/S	1.1	3.3
P/CFO	12.5	15.8
P/FCF	35.9	20.7
P/E	-7.3	23.5
STABILITY	POOR
Debt/Equity	0.72	0.21
Cash/Assets	0.05	0.07

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Metric	Value	Date	Source
Number of Android devices with Ignite platform integration	more than 1 billion	8042025	Link
Number of apps leveraging Digital Turbine's platform	over 82,000	8042025	Link
Ignite™ On-Device Footprint	800M+	11062025	Link
Operator/OEM Partners	40+	11062025	Link
Brand & Agency Relationships	500 fatigued	11062025	Link
Direct SDK Integrations	80K fatigued	11062025	Link

Upcoming
2/04/2026	Earnings Release	Rev: $145 Mil (E) EPS: $0.16 (E)

APPS Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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The Digital Turbine (APPS) stock experienced a 24.3% movement during the approximate period from August 31, 2025, to December 27, 2025, influenced by several key factors:

1. Strong Fiscal Q2 2026 Earnings Beat: Digital Turbine reported robust fiscal Q2 2026 earnings on November 4, 2025. The company announced an Earnings Per Share (EPS) of $0.10, significantly outperforming the consensus forecast of -$0.03, marking a 433.33% positive surprise.

2. Renewed Investor Confidence and Strategic Positioning in Mobile Advertising: In December 2025, Digital Turbine's shares saw notable pre-market surges, including a 7.25% jump on December 19, 2025, and a 6.03% rise on December 17, 2025. These movements were attributed to renewed investor confidence in the company's strategic approach to mobile advertising and its capacity to leverage evolving app distribution trends, driven by momentum strategies and algorithmic flows.

3. Positive Analyst Ratings and Price Targets: Throughout late 2025, Wall Street analysts maintained a generally optimistic outlook on Digital Turbine. The stock held a consensus rating of "Moderate Buy" or "Buy," with average price targets suggesting a notable potential upside. This consistent positive sentiment from the analyst community contributed to the stock's appreciation.

4. Growth in On Device Solutions (ODS) Segment: The company's fiscal fourth-quarter 2025 results (reported June 16, 2025), which provided insight into performance leading into the specified period, highlighted double-digit year-over-year topline growth in its On Device Solutions (ODS) business. This growth was primarily driven by an increase of over 40% year-over-year in Revenue Per Device (RPD) in the United States, indicating strong performance in a core segment.

5. Strategic Expansion of ONE Store Partnership: Digital Turbine's acquisition of ONE Store International in October 2024, and the ongoing strategic partnership, aimed to globalize an alternative app store and leverage Digital Turbine's SingleTap technology. This initiative positioned the company for future growth within the mobile ecosystem, particularly as it sought to capitalize on regulatory environments like the Digital Markets Act in the EU, contributing to investor optimism throughout 2025.

Stock Movement Drivers

Fundamental Drivers

The -3.3% change in APPS stock from 9/26/2025 to 12/26/2025 was primarily driven by a -5.1% change in the company's P/S Multiple.

	9262025	12262025	Change
Stock Price ($)	5.40	5.22	-3.33%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	503.44	525.09	4.30%
P/S Multiple	1.14	1.08	-5.14%
Shares Outstanding (Mil)	106.63	109.13	-2.35%
Cumulative Contribution			-3.39%

LTM = Last Twelve Months as of date shown

Market Drivers

9/26/2025 to 12/26/2025

	Return	Correlation
APPS	-3.3%
Market (SPY)	4.3%	42.1%
Sector (XLK)	5.1%	38.5%

Fundamental Drivers

The -8.9% change in APPS stock from 6/27/2025 to 12/26/2025 was primarily driven by a -11.9% change in the company's P/S Multiple.

	6272025	12262025	Change
Stock Price ($)	5.73	5.22	-8.90%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	490.51	525.09	7.05%
P/S Multiple	1.23	1.08	-11.88%
Shares Outstanding (Mil)	105.39	109.13	-3.55%
Cumulative Contribution			-9.02%

LTM = Last Twelve Months as of date shown

Market Drivers

6/27/2025 to 12/26/2025

	Return	Correlation
APPS	-8.9%
Market (SPY)	12.6%	39.2%
Sector (XLK)	17.0%	33.3%

Fundamental Drivers

The 159.7% change in APPS stock from 12/26/2024 to 12/26/2025 was primarily driven by a 157.5% change in the company's P/S Multiple.

	12262024	12262025	Change
Stock Price ($)	2.01	5.22	159.70%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	491.57	525.09	6.82%
P/S Multiple	0.42	1.08	157.49%
Shares Outstanding (Mil)	103.04	109.13	-5.91%
Cumulative Contribution			158.80%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2024 to 12/26/2025

	Return	Correlation
APPS	159.7%
Market (SPY)	15.8%	33.3%
Sector (XLK)	22.3%	31.9%

Fundamental Drivers

The -62.4% change in APPS stock from 12/27/2022 to 12/26/2025 was primarily driven by a -39.6% change in the company's P/S Multiple.

	12272022	12262025	Change
Stock Price ($)	13.89	5.22	-62.42%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	764.45	525.09	-31.31%
P/S Multiple	1.80	1.08	-39.62%
Shares Outstanding (Mil)	98.89	109.13	-10.36%
Cumulative Contribution			-62.82%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2023 to 12/26/2025

	Return	Correlation
APPS	-25.3%
Market (SPY)	48.0%	31.5%
Sector (XLK)	53.7%	28.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
APPS Return	693%	8%	-75%	-55%	-75%	218%	-25%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
APPS Win Rate	67%	50%	33%	42%	33%	58%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
APPS Max Drawdown	-48%	-15%	-82%	-71%	-82%	0%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	APPS	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-95.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	2033.8%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-51.2%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	104.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	77 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-52.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	110.9%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	143 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-95.2%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	1996.8%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	4,151 days	1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Digital Turbine's stock fell -95.3% during the 2022 Inflation Shock from a high on 3/1/2021. A -95.3% loss requires a 2033.8% gain to breakeven.

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About Digital Turbine (APPS)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Digital Turbine, Inc., through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application advertisers, publishers, device original equipment manufacturers (OEMs), and other third parties. Its application media software platform that enables mobile operators and OEMs to control, manage, and monetize devices. The company also provides programmatic advertising and targeted media delivery services; and other products and professional services directly related to the core platform. It operates in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, China, Mexico, Central America, and South America. The company is headquartered in Austin, Texas.

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1. Think of them as the 'Google Play Store for pre-installed apps,' working directly with phone carriers and manufacturers.

2. A blend of Google Ads and the App Store, but specializing in getting apps directly onto new smartphones via carrier agreements.

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Here are the major products and services of Digital Turbine:

On-Device Media Solutions (Ignite Platform): Facilitates the discovery and direct installation of mobile applications on Android devices through partnerships with mobile carriers and original equipment manufacturers (OEMs).
Mobile App Monetization Platform: Provides app developers and publishers with tools and technologies to generate revenue from their mobile applications through in-app advertising.
Mobile App User Acquisition Platform: Offers solutions for app developers to acquire new, high-quality users for their applications through targeted advertising campaigns.

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Digital Turbine (APPS) sells primarily to other companies. Its major customers, identified by significant revenue concentration in recent fiscal years, include: * **Google** (part of Alphabet Inc., Symbol: GOOGL) * **Verizon** (Symbol: VZ)

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Amazon.com, Inc. (AMZN)

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Bill Stone, Chief Executive Officer

Bill Stone joined Digital Turbine in September 2012 and was elevated to CEO and Board Member in October 2014. He has over 30 years of experience in telco, mobile applications, content, technology, marketing, and distribution. Prior to Digital Turbine, he served as Senior Vice President of Qualcomm, Inc. and President of its subsidiary, FLO TV and MediaFLO Technologies Inc., from 2009 to 2011. From 2007 to 2009, he was CEO and President of Handango, a smartphone application storefront provider that was acquired by Appia Inc. Stone also served as President of Amp'd Mobile Inc. from 2006 to 2007, and held executive positions at mobile operators including Verizon, Vodafone, and AirTouch.

Stephen Lasher, Executive Vice President and Chief Financial Officer

Stephen Lasher brings more than 30 years of financial leadership experience to Digital Turbine, with a focus on financial strategy, business transformation, and operational excellence in the technology sector. He was appointed to his current role as CFO and Vice President as of 2025. Most recently, he served as Chief Financial Officer of Vonage. He also held various positions at International Business Machines (IBM), including Vice President of Finance for IBM Global Markets, Global Business Services, and Cloud divisions from 2015 to 2021.

Matt Tubergen, EVP - Global Partnerships and Strategy

Matt Tubergen is the Executive Vice President of Global Partnerships and Corporate Development at Digital Turbine, bringing over 20 years of experience in the mobile app and content industry. He co-founded Azomob, where he was instrumental in developing branded mobile content strategies. Before joining Digital Turbine, Tubergen was the Vice President of Business Development and Supply at Appia, which was subsequently acquired by Digital Turbine. His career also includes senior roles at Taptica, SlideMe, Antidote X, THQ Wireless, and American Greetings.

Senthil Kumaran, Chief Technology Officer

As Digital Turbine's Chief Technology Officer, Senthil Kumaran leads the company's product, technology, operations, security, and IT. He has over 20 years of experience in building and scaling complex cloud and mobile products. Prior to Digital Turbine, Kumaran co-founded Tranzfinity, a fintech company where he served as CTO. He also led the horizontal infrastructure, security, and privacy engineering organization for Reality Labs at Meta, and was SVP of Engineering at TiVo/Xperi. His background includes senior leadership positions at Verifone, Yahoo, and Motorola.

Michael Akkerman, Chief Business Officer

Michael Akkerman leads Digital Turbine's global go-to-market efforts, encompassing sales, partnerships, marketing, product, and business operations. He brings nearly 20 years of experience in the advertising industry, with expertise in building and scaling ad tech solutions. Most recently, Akkerman served as General Manager of Mobility Advertising at Uber, where he guided the vision and strategy for Uber's emerging advertising business across its global ride-hailing app. Prior to Uber, he was Chief Product & Strategy Officer at Cardlytics and the Global Head of Partnerships at Pinterest, where he managed and grew an ecosystem of over 130 strategic technology partners.

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The key risks to Digital Turbine's business include profitability and debt, dependence on key partners and platform policy changes, and weak mobile device demand.

Profitability and Debt: Digital Turbine has faced significant challenges with its profit margins, with recent quarters showing negative profit margins and return on equity. The company is reportedly struggling to convert revenue into profits and has a substantial debt load, which poses a significant financial risk.
Dependence on Key Partners and Platform Policy Changes: A core risk for Digital Turbine is its high dependence on a limited number of key partners, such as wireless carriers and mobile device manufacturers. The business is vulnerable to changes in platform policies by these partners, which could lengthen development periods for its offerings, increase costs, and delay product launches.
Weak Mobile Device Demand: Digital Turbine's business performance is significantly impacted by the demand for new mobile devices. Weak demand for new mobile devices and a decline in domestic revenue per device have been identified as serious risks, potentially leading to lower revenue growth in the coming years.

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The evolving landscape of mobile privacy regulations and platform policies, most notably Google's ongoing implementation of the Privacy Sandbox on Android. This initiative aims to restrict cross-app tracking and replace existing advertising identifiers with new, more privacy-preserving APIs and frameworks. While Digital Turbine has a unique on-device distribution advantage through its partnerships with mobile carriers and OEMs, a significant portion of its ad monetization and app install advertising business relies on broader ad-tech mechanisms for targeting, measurement, and attribution. A fundamental shift in how advertising works at the operating system level on Android could diminish the effectiveness and value of current ad-tech solutions, requiring substantial adaptation and potentially impacting revenue streams and competitive positioning across the mobile advertising ecosystem, including for Digital Turbine.

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Digital Turbine (APPS) operates within the mobile growth platform sector, offering solutions primarily through two segments: On Device Solutions and the App Growth Platform.

The company's main products and services focus on app discovery, user acquisition, and monetization services by integrating software directly onto smartphones through partnerships with mobile carriers and device manufacturers (OEMs). These include dynamic app preloads, setup wizards, content media hubs, programmatic advertising exchange, ad mediation, and video advertising for user acquisition campaigns.

The global addressable market for Digital Turbine's services within the mobile digital advertising market is estimated to be approximately $357 billion currently, with a projected growth to about $613 billion by 2027. Another estimate projects the cross-platform mobile advertising market to reach $733 billion by 2030.

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Digital Turbine (APPS): Key Drivers of Future Revenue Growth

Digital Turbine (APPS) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market expansions. The company's forward guidance and recent commentary highlight a focus on international market penetration, advancements in its core platforms, and leveraging new technologies and partnerships. Here are 3-5 expected drivers of Digital Turbine's future revenue growth:

1. Accelerated International Expansion

Digital Turbine is experiencing robust international growth, which is a significant driver for its On Device Solutions (ODS) segment. For the first time, international revenues exceeded 25% of total ODS revenues, with an 80% year-over-year increase in the fiscal second quarter of 2026. This expansion is supported by new global device supply and strategic partnerships with mobile carriers and device manufacturers in various regions, including TIM Brazil and Motorola across more than 20 countries. The company anticipates expanding its device footprint with an incremental 70 million-plus devices launching with various Ignite capabilities.

2. Growth in Application Growth Platform (AGP) and Brand Engagement

The Application Growth Platform (AGP) segment has returned to year-over-year growth, posting a 20% increase in revenue for the fiscal second quarter of 2026. This resurgence is attributed to increased advertising spend levels, particularly within brand campaigns, and improvements in effective cost per mille (eCPM) rates. Digital Turbine has observed strong brand engagement, with double-digit increases in its brand business, suggesting continued momentum in this area.

3. Advancement and Adoption of AI-driven Technology Platforms and First-Party Data

Strategic investments in AI-driven technology platforms and first-party data are expected to be major growth drivers. The company has made significant progress on investment activities, including a new version of Ignite and the launch of SDK Bidding. Initiatives like scaling the DT Ignite graph and DTiQ are top priorities and are seen as crucial for future business growth. These technological advancements aim to enhance brand discovery, advertising, user acquisition, and engagement within the mobile application ecosystem.

4. Strategic Partnerships for Alternative App Distribution

Digital Turbine is actively expanding its alternative app distribution network through strategic partnerships. The company secured a global preferred partner status with GroupM, the largest media buying agency, which is anticipated to unlock significant media investments. Collaborations with major tech companies like Epic and Microsoft are also strengthening Digital Turbine's market position and validating its alternative app strategy. These partnerships, alongside those with mobile carriers, support the company's efforts to diversify its reach and capture market share in a shifting regulatory landscape.

5. Increased Adoption of SingleTap Technology

The adoption of Digital Turbine's SingleTap technology is contributing to revenue growth. The company reported a nearly 50% increase in SingleTap installs quarter-after-quarter in a recent earnings call. This technology facilitates frictionless app installs, enhancing the user experience and driving user acquisition and engagement, particularly through device integrations with partners like Motorola.

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Share Repurchases

Digital Turbine made no purchases of equity securities during the fiscal year ended March 31, 2025.
The Board of Directors authorized an additional $12 million for a stock repurchase program on November 5, 2025.

Share Issuance

Approximately 3.86 million shares were issued between March 31, 2024, and March 31, 2025.
The company raised $13.573 million via an at-the-market offering as of November 4, 2025.
As of October 30, 2025, Digital Turbine had 112,148,899 common shares outstanding.

Outbound Investments

Digital Turbine completed three acquisitions in 2021, including AdColony, Appreciate, and Fyber, to enhance its monetization tools and mobile app marketing platforms.
In October 2024, the company acquired One Store, an online distribution platform offering multi-category mobile applications.
Digital Turbine acquired Mobile Posse in March 2020 to diversify its offerings.

Capital Expenditures

Digital Turbine is heavily investing in upgrading its cloud hosting platform and AI machine learning models, which are anticipated to drive long-term efficiency gains.

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AMZN (18.1%)

Amazon.com

TSLA (16.5%)

Tesla

BRK-B (9.8%)

Berkshire Hathaway

Higher FCF/Rev LTM (Value for APPS: 3.0%)

MA (52.5%)

Mastercard

META (23.7%)

Meta Platforms

GOOGL (19.1%)

Alphabet

TSLA (7.1%)

Tesla

BRK-B (4.8%)

Berkshire Hathaway

Higher Total Yield (Value for APPS: -13.6%)

BRK-B (6.3%)

Berkshire Hathaway

META (3.8%)

Meta Platforms

GOOGL (3.5%)

Alphabet

AMZN (2.9%)

Amazon.com

TSLA (0.3%)

Tesla

		Best Bets In Information Technology Sector
	APPS	VRSN	IDCC	NVDA	RMBS	GEN	ZM	DBX	YOU	MPWR	DAVE
What You Pay
P/E	-7.4	28.3	17.2	46.7	44.3	30.0	16.5	14.5	19.0	23.9	21.0
P/EBIT	-15.5	20.5	13.9	39.8	37.7	10.7	23.9	11.8	20.7	65.5	24.0
What You Get
Rev Chg Q	18.2%	7.3%	28.0%	62.5%	22.7%	25.3%	4.4%	-0.7%	15.5%	18.9%	63.0%
Rev Chg LTM	6.8%	5.5%	28.8%	65.2%	31.0%	16.2%	3.8%	-0.4%	17.8%	30.5%	53.8%
Rev Chg 3Y Avg	-10.9%	5.2%	27.1%	91.6%	17.3%	16.5%	3.4%	3.4%	31.0%	17.2%	38.6%
FCF/Rev 3Y Avg	1.7%	57.4%	54.2%	43.4%	39.3%	36.7%	36.1%	33.4%	32.5%	28.6%	26.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Digital Turbine Earnings Notes
2	Would You Still Hold Digital Turbine Stock If It Fell 30%?	Return
3	Digital Turbine Stock Jumps 17% In A Month, Time To Buy The Stock?	Buy or Fear
4	Why Digital Turbine Stock Moved: APPS Stock Has Gained 211% Since 2024 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
5	Digital Turbine (APPS) Valuation Ratios Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select ideas related to APPS. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	13.9%	13.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	12.0%	12.0%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	17.0%	17.0%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	11.9%	11.9%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	4.1%	4.1%	0.0%
APPS_3312023_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	03312023	APPS	Digital Turbine	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	-51.1%	-78.8%	-80.0%
APPS_9302022_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	09302022	APPS	Digital Turbine	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	-14.2%	-58.0%	-58.8%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Digital Turbine

Peers to compare with:

Financials

	APPS	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Digital .	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	5.22	23.26	24.49	305.09	78.16	273.40	51.32
Mkt Cap	0.6	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	525	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	-23	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	16	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	12	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	45	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	38	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	APPS	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Digital .	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	6.8%	3.2%	13.8%	4.5%	8.9%	6.0%	6.4%
Rev Chg 3Y Avg	-10.9%	-3.9%	6.5%	2.6%	3.7%	1.8%	2.2%
Rev Chg Q	18.2%	4.2%	14.4%	9.1%	7.5%	9.6%	9.4%
QoQ Delta Rev Chg LTM	4.3%	1.1%	3.7%	2.1%	1.8%	2.1%	2.1%
Op Mgn LTM	-4.3%	6.6%	4.8%	17.7%	22.5%	31.9%	12.1%
Op Mgn 3Y Avg	-5.9%	7.4%	7.2%	16.4%	24.2%	30.8%	11.9%
QoQ Delta Op Mgn LTM	4.2%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	8.6%	6.7%	8.5%	20.6%	23.8%	26.6%	14.6%
CFO/Rev 3Y Avg	6.6%	6.8%	12.7%	21.4%	26.1%	28.4%	17.1%
FCF/Rev LTM	3.0%	5.1%	1.8%	18.1%	22.1%	23.5%	11.6%
FCF/Rev 3Y Avg	1.7%	5.5%	4.6%	18.6%	24.6%	25.6%	12.1%

Valuation

	APPS	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Digital .	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	0.6	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	1.1	0.4	1.0	4.4	5.4	10.0	2.7
P/EBIT	-15.5	6.8	19.9	25.1	22.5	31.3	21.2
P/E	-7.4	8.6	572.7	36.0	29.9	41.0	33.0
P/CFO	12.6	5.9	11.2	21.1	22.5	37.5	16.9
Total Yield	-13.6%	14.1%	2.3%	5.0%	5.4%	2.8%	3.9%
Dividend Yield	0.0%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	0.1%	10.6%	5.5%	6.4%	6.0%	3.1%	5.7%
D/E	0.7	0.5	0.7	0.2	0.1	0.0	0.4
Net D/E	0.6	0.3	0.6	0.2	0.0	0.0	0.3

Returns

	APPS	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Digital .	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	11.3%	-1.8%	14.4%	0.6%	2.7%	-1.5%	1.7%
3M Rtn	-3.3%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	-8.9%	-4.0%	34.5%	6.6%	15.2%	36.3%	10.9%
12M Rtn	159.7%	-27.3%	14.2%	39.2%	33.7%	6.0%	23.9%
3Y Rtn	-62.4%	-3.8%	67.7%	139.0%	79.5%	113.4%	73.6%
1M Excs Rtn	6.8%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-1.1%
3M Excs Rtn	-7.6%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	-21.2%	-16.3%	22.3%	-5.7%	3.0%	24.0%	-1.3%
12M Excs Rtn	163.1%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	9.6%
3Y Excs Rtn	-145.8%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

FDIC Bank Data

$ Mil \| FY: 3/31	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2025	3/31/2025	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020
Filing Date	11/4/2025	6/16/2025	5/28/2024	5/25/2023	6/6/2022	6/10/2021	6/2/2020
Key Financials
Total Revenue	525	491	544	666	748	314	139
EBITDA	44	29	46	127	150	66	16
Operating Income	-23	-54	-38	46	92	59	13
Net Income	-77	-92	-420	17	36	55	14
EPS	-0.73	-0.89	-4.16	0.17	0.37	0.62	0.17
Growth Rates
Total Revenue Growth	6.8%	-9.9%	-18.2%	-10.9%	138.4%	126.1%	33.9%
EBITDA Growth	-74.3%	-37.4%	-63.8%	-15.0%	125.7%	326.4%	150.4%
Operating Income Growth	60.6%	-43.1%	-181.9%	-50.0%	55.8%	348.1%	283.5%
Net Income Growth	74.2%	78.1%	-2620.4%	-53.1%	-35.2%	294.8%	331.3%
Margins
EBITDA Margin	8.4%	5.9%	8.5%	19.1%	20.0%	21.2%	11.2%
Operating Income Margin	-4.3%	-11.0%	-6.9%	6.9%	12.3%	18.9%	9.5%
Net Income Margin	-14.8%	-18.8%	-77.2%	2.5%	4.8%	17.5%	10.0%
Cash & Debt
Total Cash	39	40	34	76	127	31	22
Total Debt	405	418	392	411	533	15	20
Net Debt / (Cash)	366	378	359	335	407	-16	-2
Cash Flows
Net Cash from Operations	45	12	29	113	85	63	31
Free Cash from Operations	16	-16	4	90	61	54	27
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 3/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/4/2025	8/5/2025	6/16/2025	2/5/2025	11/6/2024	8/7/2024	5/28/2024	2/7/2024	11/8/2023	8/8/2023	5/25/2023	2/8/2023
Key Financials Quarterly
Total Revenue	140	131	119	135	119	118	112	143	143	146	140	162
Ebitda	9	16	12	7	5	5	150	11	15	18	12	30
Operating Income	7	-5	-12	-13	-14	-16	-18	-9	-5	-5	-9	10
Net Income	-21	-14	-19	-23	-25	-25	-237	-14	-161	-8	-14	4
EPS	-0.20	-0.13	-0.18	-0.22	-0.24	-0.25	-2.32	-0.14	-1.61	-0.08	-0.14	0.04
Key Financials TTM
Total Revenue TTM	525	503	491	484	492	516	544	572	592	624	666	710
Ebitda TTM	44	40	29	167	172	182	195	57	75	101	127	159
Operating Income TTM	-23	-43	-54	-61	-57	-49	-38	-29	-10	17	46	83
Net Income TTM	-77	-81	-92	-310	-301	-437	-420	-198	-180	-6	17	51
Growth Rates Quarterly
Total Revenue Growth	18.2%	11.0%	6.2%	-5.6%	-17.1%	-19.4%	-19.9%	-12.1%	-18.1%	-22.4%	-23.9%	-25.1%
EBITDA Growth	85.9%	203.2%	-91.8%	-40.7%	-67.5%	-71.5%	1175.0%	-61.7%	-63.0%	-58.4%	-73.2%	-33.6%
Operating Income Growth	148.2%	71.0%	36.4%	-37.6%	-149.1%	-241.2%	-100.9%	-194.6%	-125.8%	-119.3%	-133.4%	-66.4%
Net Income Growth	14.4%	43.9%	92.0%	-64.5%	84.5%	-207.6%	-1597.6%	-449.9%	-1484.4%	-154.8%	-169.3%	-42.7%
Margins Quarterly
EBITDA Margin	6.5%	12.2%	10.3%	5.0%	4.2%	4.5%	133.8%	8.0%	10.6%	12.6%	8.4%	18.4%
Operating Income Margin	4.7%	-3.6%	-9.8%	-9.5%	-11.4%	-13.6%	-16.4%	-6.5%	-3.8%	-3.2%	-6.5%	6.0%
Net Income Margin	-15.2%	-10.8%	-15.8%	-17.2%	-21.0%	-21.3%	-210.7%	-9.9%	-112.7%	-5.6%	-9.9%	2.5%
Cash & Debt
Total Cash	39	34	40	35	33	36	34	49	58	59	76	79
Total Debt	405	410	418	415	415	400	392	374	384	406	411	422
Net Debt / (Cash)	366	376	378	380	382	364	359	325	326	347	335	343
Cash Flows Quarterly
FCF from Operations	14	9	12	10	-9	-1	-12	12	27	1	16	33
Cash Flows TTM
FCF from Operations TTM	45	22	12	-11	-10	26	29	56	78	78	113	139
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	2.1%	-1.3%	-3.6%	-4.2%	-4.5%	-5.5%	-6.3%	-2.7%	-1.9%	-1.4%	-2.7%	3.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-1.8%	-3.5%	-4.4%	-5.0%	-4.7%	-4.2%	-3.2%	-2.4%	-0.8%	1.2%	3.2%	6.1%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
On Device Solutions (ODS)	370	420	503	314	139
App Growth Platform (AGP)	179	253	262
Eliminations	-4	-7	-17
Total	544	666	748	314	139

Price Behavior

Price Behavior

Market Price	$5.22
Market Cap ($ Bil)	0.6
First Trading Date	07/06/2006
Distance from 52W High	-30.8%
	50 Days	200 Days
DMA Price	$5.48	$4.80
DMA Trend	up	down
Distance from DMA	-4.8%	8.8%
	3M	1YR
Volatility	89.4%	148.8%
Downside Capture	340.31	251.14
Upside Capture	258.40	313.17
Correlation (SPY)	42.4%	33.2%

APPS Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	4.30	3.27	3.29	2.14	2.44	2.59
Up Beta	1.67	1.64	0.94	2.86	2.30	2.73
Down Beta	3.79	4.61	5.05	2.09	2.11	2.24
Up Capture	309%	175%	373%	195%	1394%	1837%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	8	18	32	57	122	348
Down Capture	524%	350%	276%	216%	149%	112%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	11	23	30	65	120	389

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of APPS With Other Asset Classes (Last 1Y)
	APPS	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	203.5%	25.0%	17.8%	72.1%	8.6%	4.4%	-8.3%
Annualized Volatility	148.7%	27.5%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	1.31	0.79	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		31.7%	33.0%	-0.5%	17.7%	22.7%	17.6%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of APPS With Other Asset Classes (Last 5Y)
	APPS	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-37.2%	18.8%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	109.8%	24.7%	17.1%	15.5%	18.7%	18.9%	48.7%
Sharpe Ratio	0.05	0.69	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		41.4%	43.7%	8.6%	10.0%	35.0%	26.6%

Based On 10-Year Data

		Comparison of APPS With Other Asset Classes (Last 10Y)
	APPS	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	13.5%	22.5%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	93.1%	24.2%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.55	0.85	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		39.4%	40.0%	5.8%	11.9%	31.6%	18.4%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	9,822,105
Short Interest: % Change Since 11302025	1.4%
Average Daily Volume	1,912,976
Days-to-Cover Short Interest	5.13
Basic Shares Quantity	109,128,000
Short % of Basic Shares	9.0%

Returns Analyses

	Title
0	Would You Still Hold Digital Turbine Stock If It Fell 30%?

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/4/2025	23.1%	2.0%	-15.4%
6/16/2025	56.8%	14.6%	11.6%
2/5/2025	96.5%	141.7%	15.7%
11/6/2024	-44.8%	-54.0%	-53.7%
8/7/2024	61.8%	82.0%	59.6%
5/28/2024	-17.0%	-28.1%	-33.5%
2/7/2024	-24.4%	-29.0%	-38.5%
11/8/2023	-5.4%	3.3%	20.8%
...
SUMMARY STATS
# Positive	8	12	8
# Negative	13	9	13
Median Positive	43.7%	26.1%	30.9%
Median Negative	-10.1%	-19.2%	-33.5%
Max Positive	96.5%	141.7%	59.6%
Max Negative	-44.8%	-54.0%	-53.7%

	Forward Returns
11/4/2025	23.1%	2.0%	-15.4%
6/16/2025	56.8%	14.6%	11.6%
2/5/2025	96.5%	141.7%	15.7%
11/6/2024	-44.8%	-54.0%	-53.7%
8/7/2024	61.8%	82.0%	59.6%
5/28/2024	-17.0%	-28.1%	-33.5%
2/7/2024	-24.4%	-29.0%	-38.5%
11/8/2023	-5.4%	3.3%	20.8%
8/8/2023	-8.3%	-11.1%	-21.9%
5/24/2023	-43.0%	-35.6%	-43.5%
2/8/2023	-24.0%	-17.7%	-39.5%
11/9/2022	60.9%	72.0%	52.4%
8/8/2022	-10.1%	3.3%	-26.0%
5/17/2022	-7.1%	-18.6%	-45.1%
2/8/2022	8.9%	20.9%	-16.8%
11/2/2021	-19.0%	-19.2%	-43.6%
5/4/2021	-2.9%	-16.0%	-9.1%
2/3/2021	19.8%	37.9%	14.8%
10/29/2020	-10.1%	31.3%	41.1%
8/5/2020	30.6%	48.3%	48.1%
2/10/2020	-8.7%	2.9%	-9.0%
SUMMARY STATS
# Positive	8	12	8
# Negative	13	9	13
Median Positive	43.7%	26.1%	30.9%
Median Negative	-10.1%	-19.2%	-33.5%
Max Positive	96.5%	141.7%	59.6%
Max Negative	-44.8%	-54.0%	-53.7%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11042025	10-Q 9/30/2025
6302025	8052025	10-Q 6/30/2025
3312025	6162025	10-K 3/31/2025
12312024	2052025	10-Q 12/31/2024
9302024	11062024	10-Q 9/30/2024
6302024	8072024	10-Q 6/30/2024
3312024	5282024	10-K 3/31/2024
12312023	2072024	10-Q 12/31/2023
9302023	11082023	10-Q 9/30/2023
6302023	8082023	10-Q 6/30/2023
3312023	5252023	10-K 3/31/2023
12312022	2082023	10-Q 12/31/2022
9302022	11092022	10-Q 9/30/2022
6302022	8082022	10-Q 6/30/2022
3312022	6062022	10-K 3/31/2022
12312021	2082022	10-Q 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Digital Turbine (APPS)

Market Price (12/27/2025): $5.18 | Market Cap: $565.3 MilSector: Information Technology | Industry: Application Software

Digital Turbine (APPS)

Market Price (12/27/2025): $5.18Market Cap: $565.3 MilSector: Information TechnologyIndustry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

APPS Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Digital Turbine (APPS)

Digital Turbine (APPS): Key Drivers of Future Revenue Growth

1. Accelerated International Expansion

2. Growth in Application Growth Platform (AGP) and Brand Engagement

3. Advancement and Adoption of AI-driven Technology Platforms and First-Party Data

4. Strategic Partnerships for Alternative App Distribution

5. Increased Adoption of SingleTap Technology

Interactive Breakdown

Better Bets than Digital Turbine (APPS)

INDUSTRY: Application Software

Higher Rev Chg 3Y Avg | Lower P/S (Values for APPS: -10.9% | 1.1x)

Higher Rev Chg LTM (Value for APPS: 6.8%)

Higher Rev Chg 3Y Avg (Value for APPS: -10.9%)

Higher Op Mgn LTM (Value for APPS: -4.3%)

Higher CFO/Rev LTM (Value for APPS: 8.6%)

Higher FCF/Rev LTM (Value for APPS: 3.0%)

Higher Total Yield (Value for APPS: -13.6%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for APPS: -10.9% | 1.1x)

Higher Rev Chg LTM (Value for APPS: 6.8%)

Higher Rev Chg 3Y Avg (Value for APPS: -10.9%)

Higher Op Mgn LTM (Value for APPS: -4.3%)

Higher CFO/Rev LTM (Value for APPS: 8.6%)

Higher FCF/Rev LTM (Value for APPS: 3.0%)

Higher Total Yield (Value for APPS: -13.6%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for APPS: -10.9% | 1.1x)

Higher Rev Chg LTM (Value for APPS: 6.8%)

Higher Rev Chg 3Y Avg (Value for APPS: -10.9%)

Higher Op Mgn LTM (Value for APPS: -4.3%)

Higher CFO/Rev LTM (Value for APPS: 8.6%)

Higher FCF/Rev LTM (Value for APPS: 3.0%)

Higher Total Yield (Value for APPS: -13.6%)

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Market Price (12/27/2025): $5.18 | Market Cap: $565.3 Mil
Sector: Information Technology | Industry: Application Software

Market Price (12/27/2025): $5.18
Market Cap: $565.3 Mil
Sector: Information Technology
Industry: Application Software