Digital Turbine, Inc.

Patent Owners & Lessors

APPSStrained5 of 10 basics passed

$10.45

-3.06%

Market cap $1.27B

$10.45

-3.06%

Market cap $1.27B

Digital Turbine Inc is an independent mobile growth platform that levels up the landscape for advertisers, publishers, carriers, and device original equipment manufacturers.

It is a $1.27B financial services company. Revenue grew 19.2% over the last year, and it currently loses money.

Website: digitalturbine.com
Location: Austin, TX
Employees: 620
Sector: Financial Services

Share price · 3 years

$5.86 → $10.45+78.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $600M
Loss: spends more than it earns; -$35.0M
Free cash flow: cash left after running the business; $44.2M
P/E: years of profit in the price; 30.6
Shares: up 26% since 2020 — dilution; 112.9M
Volatility: beta vs the market — under 1 swings less; 2.92

Revenue, last 10 years

52-week range

Low $2.82$10.45High $14.39

Today's price is 66% of the way from the year's low to its high.

Valuation vs own history

P/E

17.3×

99%

P/S

2.1×

37%

EV/EBITDA

25.5×

63%

P/B

6.6×

15%

FCF yield

1.7%

43%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Standing in Financial Services

Size$1.27Btop 100%
Revenue growth-5%top 96%
Net margin-6%top 92%
Return on equity-19%top 95%
P/E30.6×top 82%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong valuation; Growth, Profitability, Health and Moat lag behind.

Valuation77

P/E vs own history1th pct · 25/25
FCF yield3.5% · 12/25
P/S2.1x · 20/25
EV/EBITDA13.5x · 20/25

Growth25

Revenue CAGR-6.8% · 0/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growth103.9% · 25/25

Profitability12

ROICn/a · 0/25
ROE-19.3% · 0/25
Net margin-5.8% · 0/25
Operating margin8.7% · 12/25

Health18

Altman Z0.32 · 3/25
Current ratio1.20 · 12/25
Interest coverage0.4x · 3/25
Net cash / debtn/a · 0/25

Quality53

Piotroski F7/9 · 22/25
Beneish M-2.70 · 25/25
FCF conversionn/a · 0/25
Margin stabilityσ 15.7% · 6/25

Moat20

ROIC >12% years2/10 yrs · 0/25
Median gross margin43.0% · 20/25
FCF-positive years1/3 yrs · 0/25
Worst-year net marginworst -77.2% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2021Financial
Best year on record
$54.9M net income
FY2020Financial
Turned profitable
$13.9M net income after a loss year
FY2018Financial
Became debt-free
cash now exceeds total debt
FY2018Financial
Positive free cash flow every year since
9-year streak

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$1 681 today — price return only

$565.3M revenue in FY2026

Revenue up 19.2% year over year

Positive free cash flow 9 years in a row

620 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (49.1%)
Revenue growing 19.2% year over year
Piotroski F-Score 7/9 — fundamentally strong checklist

Watch-outs

Not profitable — 5.8% net margin
Altman Z-Score 0.32 — elevated financial-distress risk
Net debt would take ~14.8 years of free cash flow to repay
Thin interest coverage (0.4×)
Loss-making in 6 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

5 of 10 checks passed

Revenue growing — the company sells more than a year ago+19.2% YoY
Profitable — makes more than it spends-$35.0M TTM
Profit growing — earnings are higher than last year+59.0% YoY
Generates cash — cash left after running and investing$44.2M TTM
Debt under control — could handle its obligationscurrent ratio 1.20
Established company — not a micro-cap — lower blow-up risk$1.27B market cap
Not printing shares — share count not ballooning — you keep your slice+17.4% shares over ~5y
Proven track record — years of profitability behind it4/11 profitable years
Financially stable — balance sheet not near distressAltman Z 0.3 — distress
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsP/E 30.6

Peer comparisonDigital Turbine, Inc. vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
APPS this company	$1.3B	30.6	+19.2%	-5.8%	Strained
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: APPS vs BRK.A · APPS vs BRK.B · APPS vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 2Buy 6Hold 1

Appendix · Financial records

The full statements behind this CV, FY2016–FY2026. For readers who want to check the numbers.

Profit & lossRevenue $600M · net income -$35.0M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2026 revenue flows to profit

RevenueNet income

Revenue (TTM)

$600M

YoY 19.2%

Net income (TTM)

-$35.0M

Margin -5.8%

Gross margin

49.1%

Operating margin

8.7%

P/E ratio

30.6

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025	2026
Revenue	0.3	0.7	0.7	0.5	0.5	0.6
Gross profit	0.1	0.4	0.4	0.3	0.3	0.3
Operating income (EBIT)	0.1	0.1	0.0	-0.4	-0.1	0.0
Net income	0.1	0.0	0.0	-0.4	-0.1	-0.0
EPS (diluted)	0.57	0.35	0.16	-4.16	-0.89	-0.33

Cash flowFree cash flow $44.2M · operating cash flow $50.9M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$44.2M

Margin 7.4%

Operating cash flow (TTM)

$50.9M

FCF margin

3.5%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Operating cash flow	0.1	0.1	0.1	0.0	0.0	0.0
Capital expenditure	—	—	—	—	—	-0.0
Free cash flow	0.1	0.1	0.1	0.0	0.0	0.0
FCF margin	20.0%	11.3%	17.0%	5.3%	2.4%	2.0%

Balance sheetAssets — · debt n/a (FY2026)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

Altman Z-Score

0.32

Distress zone

Debt repayment

14.8 yrs

Years of free cash flow to clear net debt

Interest coverage

0.4x

EBIT ÷ interest expense

ROE

-19.3%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Cash & equivalents	0.0	0.1	0.1	0.0	0.0	—
Total assets	0.3	1.5	1.3	0.9	0.8	—
Total liabilities	0.1	0.9	0.7	0.7	0.7	—
Total debt	0.0	0.5	0.4	0.4	0.4	—
Equity	0.1	0.5	0.6	0.2	0.2	—
Net debt	-0.0	0.4	0.3	0.3	0.4	—

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Deeper analysis of APPS on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $10.45 · market cap $1.27B.