APPS earnings analysis
What we found in APPS's 10-K: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Digital Turbine (APPS) reported a robust growth in revenue of $565.3 million for the fiscal year ending March 31, 2026, representing a 15.2% year-over-year increase. The company achieved significant improvements in operational efficiency, leading to an operating profit of $34 million and a noted reduction in losses from $92.1 million in FY 2025 to $37.7 million in FY 2026. However, ongoing risks related to economic conditions and high interest expenses from refinanced debt warrant attention as management implements its transformation plan and focuses on growth strategies.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Annual Revenue Growth
- The company reported $565.3 million in revenue for FY 2026, a 15.2% increase from $490.5 million in FY 2025.
- Improved Operating Profit
- Operating income recovered to $34 million in FY 2026, compared to a loss of $54 million in FY 2025.
- Successful Implementation of Transformation Program
- Transformation Program costs significantly decreased from $5.8 million to only $626,000 year-over-year, indicating successful restructuring efforts.
- Expansion in Key Segments
- Both On Device Solutions and App Growth Platform segments saw increased revenues driven by strong performance in Asia Pacific and China.
- Increased Cash Flow from Operations
- Cash provided by operating activities jumped to $41.8 million in FY 2026 from $11.9 million in FY 2025.
- Debt Refinancing Positively Influenced Strategy
- Successfully refinanced existing debt, managing a principal balance of $391.2 million under a new financing agreement.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- High Interest Expense on Refinanced Debt
- Interest expense surged 68.4% to $58.6 million in FY 2026 due to higher margins on refinanced debt.
- Dependence on Economic Conditions
- Revenue growth faces risks from macroeconomic challenges, including the global chip shortage impacting customer budgets.
- Customer Concentration Risk
- As of March 31, 2026, one customer accounts for 20.6% of accounts receivable, posing a risk to revenue stability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.33
- Operating margin
- 6%
- Segment
- On Device Solutions
- Segment
- App Growth Platform
What they said about what is next.
Annual revenue outlook for FY 2027 is projected between $630 million and $650 million with expectations for continued growth.
The filing reads better than the one before it.
What came before.
- 10-Q · February 5, 2025
- Digital Turbine reported net revenue of $134,637 (amounts in the filing are presented in thousands) for the three months ended December 31, 2024, down from $142,634 in the prior-year quarter. Loss from operations…
- 10-Q · November 6, 2024
- Digital Turbine reported net revenue of $118,728,000 for the quarter (three months ended September 30, 2024), a 17.1% decline from $143,259,000 in the prior-year quarter, with a loss from operations of $13,542,000…
- 10-Q · August 7, 2024
- Digital Turbine reported net revenue of $117,989,000 for the quarter and posted a net loss of $25,156,000 (diluted loss per share $0.25). Both reportable segments (ODS and AGP) saw year-over-year revenue declines, while…
- 10-Q · February 7, 2024
- Digital Turbine reported Q3 net revenue of $142.634M, down from $162.310M in the prior-year quarter, and posted a net loss of $14.061M (diluted EPS $(0.14)) versus net income of $4.062M (EPS $0.04) a year earlier. Both…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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