Digital Turbine revenue up 83%

Digital Turbine, Inc. (Nasdaq: APPS) said revenue for the fiscal 2016 first quarter increased 83 percent to USD18.7 million, compared with USD10.2 million for the fiscal 2015 fourth quarter.

The impact of foreign exchange was USD0.1 million as a result of the stabilization of the USDAUD in the quarter. On a pro forma basis, as if Appia, Inc. had been owned for the entire fourth quarter of fiscal 2015, revenue for the fiscal 2016 first quarter increased 16 percent compared to fourth quarter fiscal 2015 revenue of USD16.1 million.

Non-GAAP adjusted gross profit and non-GAAP adjusted gross margin, which excludes the amortization of intangibles, were USD4.5 million and approximately 24 percent, respectively, for the first quarter of fiscal 2016, increasing 143 percent in dollars and approximately 600 basis points compared with USD1.8 million and approximately 18 percent, respectively, on an as reported basis, for the fourth quarter of fiscal 2015.

This sequential comparison was primarily driven by the increasing contribution from higher-margin Advertising revenue. First quarter fiscal 2016 non-GAAP adjusted gross profit and non-GAAP adjusted gross margin increased 45 percent and approximately 500 basis points, respectively, from USD3.1 million and approximately 19 percent, respectively, on a pro forma basis for the fourth quarter fiscal 2015.

Net loss from continuing operations for the first quarter of fiscal 2016 was USD8.1 million, or (USD0.14) per share, based on 57.4 million weighted average shares outstanding. Net loss from continuing operations for the fourth quarter of fiscal 2015 was USD9.4 million, or (USD0.22) per share, based on 43.2 million weighted average shares outstanding.

Digital Turbine works at the convergence of media and mobile communications, delivering end-to-end products and solutions for mobile operators, app advertisers, device OEMs and other third parties to enable them to effectively monetize mobile content and acquire higher value user acquisition.