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Digital Turbine Inc (NASDAQ:APPS) shares are trading lower in Tuesday’s after-hours session on the heels of the company’s fiscal fourth-quarter financial results. Here’s a rundown of the print.
Digital Turbine said total On Device Solutions revenue before intercompany eliminations was $78.5 million, while total App Growth Platform revenue before intercompany eliminations came in at $34.4 million.
The mobile growth platform company reported adjusted EBITDA of $12.3 million, down from $23.1 million in the fourth quarter of 2023. Digital Turbine noted that new partnerships are set to add more than 70 million new devices globally.
“We are seeing encouraging real-time momentum in the marketplace that we believe validates our strategy and positions the Company for a return to growth in the new fiscal year,” said Bill Stone, CEO of Digital Turbine.
“We have recently secured additional global device supply that we believe will help to offset recent headwinds as a result of decade-low upgrade rates and selective app distribution limitations in the U.S.”
FY25 Outlook: Digital Turbine expected fiscal-year 2025 revenue to be between $540 million and $560 million versus estimates of $553.18 million, according to Benzinga Pro. The company anticipates full-year adjusted EBITDA of $85 million to $95 million.
Management is currently discussing its financial results on a conference call that kicked off at 4:30 p.m. ET.
APPS Price Action: Digital Turbine shares were down 8.48% at $2.05 in after-hours trading Tuesday at the time of publication, according to Benzinga Pro.
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Photo: Gerd Altmann from Pixabay.
Posted In: APPS
