Digital Turbine, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Digital Turbine, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	40.2	74.8	104	139	314	748	666	544	491	565
Cost of revenue	28.9	49.7	68	85	179	371	309	262	235	244
Gross profit	11.3	25.1	35.6	55.1	135	377	357	282	255	322
Research and development	9.28	9.65	10.9	12	20.1	52.7	56.5	54.2	39.5	40.5
Selling and marketing	4.18	6.09	8.21	11.2	19.3	63.3	63.3	61.5	61.6	58
General and administrative	14.8	15.1	13	17.2	33.9	139	154	170	174	142
Operating expenses	28.2	30.9	32.1	40.5
Operating income	-17	-5.81	3.45	13.2	59.2	92.2	46.2	-374	-54.1	34
Interest expense		2.07	1.12	0.11	1.04	8.5	23.4	30.8	34.8	58.6
Other non-operating income	-2.31	-14.8	-7.28	-9.31	-17.4	-48.3	-24.1	-30.7	-33.8	-65.4
Pre-tax income	-19.3	-20.6	-3.83	3.91	41.9	44	22	-405	-87.9	-31.3
Income tax	-0.14	-0.95	0.47	-10.4	-13	8.4	5.15	15.3	4.24	6.39
Income from continuing operations	-19.1	-19.7	-4.3	14.3	54.9	35.5
Net income to minority interests				0	0	0.02	0.2	-0.22	0	0
Net income	-24.3	-52.9	-6.01	13.9	54.9	35.5	16.7	-420	-92.1	-37.7
EBITDA	-14.4	-3.15	6.21	15.6	66.3	150	127	-291	28.8	105
EPS, basic	-0.36	-0.75	-0.08	0.17	0.62	0.37	0.17	-4.16	-0.89	-0.33
EPS, diluted	-0.36	-0.75	-0.08	0.16	0.57	0.35	0.16	-4.16	-0.89	-0.33
Shares, basic (weighted)	66.5	70.3	77.4	84.6	88.5	95.2	98.8	101	104	113
Shares, diluted (weighted)	66.5	70.3	77.4	89.6	96.2	103	102	101	104	113

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	6.15	12.7	10.9	21.5	30.8	127	75.1	32.9	39.4	37.7
Receivables	10.7	17.1	22.7	33.1	62	263	178	191	182	251
Other current assets	0.45	0.9	1.33	3.65	4.28	20.6	3.73	5.29	5.71	12.1
Total current assets	23.7	39.8	37.1	58.4	97.4	411	266	242	243	312
Property, plant and equipment	2.01	2.76	3.43	8.18	13.1	31.1	39.3	45.8	47	49.1
Lease right-of-use assets				4.24	3.5	15.4	10.1	9.13	9.92	7.74
Goodwill	42.3	42.3	42.3	69.3	80.2	560	562	220	222	223
Intangible assets	2.65	1.23	0	43.9	53.3	441	380	314	258	217
Other non-current assets					0	0.73	9.88	34.7	33.7	32.4
Total assets	108	86.6	82.9	184	260	1,459	1,267	866	813	842
Accounts payable	11.8	19.9	14.9	31.6	35	168	119	159	140	133
Accrued liabilities	3.01	8.23	16.2	19.4	46.2	95.2	69.2	33.9	35.3	87.2
Short-term debt	0				14.6	12.5	0		0	7.03
Total current liabilities	30.8	46.4	38.3	82.8	111	385	221	236	223	265
Long-term debt	9.69	3.87	0	18.5	0	521	411	383	409	354
Lease liabilities							6.17	5.75	6.11	4.78
Other non-current liabilities	0.7	0	0.18	5.24	4.11	16.3	13.9	11.7	11.4	4.84
Total liabilities	45.5	58.9	46.5	107	115	942	659	652	659	641
Total debt	9.69	3.87	0	20	14.6	533	411	383	409	361
Paid-in capital	300	318	333	360	373	746	822	858	893	969
Retained earnings	-237	-290	-296	-282	-227	-192	-175	-595	-687	-717
Treasury stock	-0.07	-0.07	-0.07	-0.07	-0.07	-0.07	-0.07	-0.07	-0.07	-0.07
Other comprehensive income	-0.32	-0.33	-0.36	-0.59	-0.9	-39.3	-41.9	-49	-51.3	-51.8
Shareholders' equity	62	27.7	36.4	77.5	145	515	605	214	162	200
Minority interests					0	1.64	2.06	0
Total equity	62	27.7	36.4	77.5	145	516	607	214	154	192
Total liabilities and equity	108	86.6	82.9	184	260	1,459	1,267	866	813	842
Shares outstanding	66.6	76.1	81.6	87.3	89.9	97.2	99.5	102	106	120

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-24.3	-52.9	-6.01	13.9	54.9	35.6	16.9	-420	-92.1	-37.7
Depreciation and amortization	2.61	2.66	2.77	2.34	7.11	57.5	81.1	83.9	82.9	71.5
Stock-based compensation	3.36	2.66	2.01	3.35	5.88	19.3	30.4	33.8	33.5	16.4
Deferred income tax	-0.14	-0.84	0.53	-10.5	-13.3	0.03	-5.77	7.06	-4.01	-0.35
Change in receivables	-3.88	-7.07	-6.04	-2.43	-25.4	-73.7	83.9	-19.3	5.82	-70.2
Change in payables	4.43	8.11	-4.98	16.2	-1.9	31.8	-48.8	40.2	-19.3	-7.18
Cash from operations	-6.66	6.97	1.27	31.4	62.8	84.7	113	28.7	11.9	41.8
Capital expenditures	0							-24.3	-27.5	-30.6
Acquisitions		0	0	-41.9	-28.6	-149	-2.71	0.07	0	0
Purchases of investments					0	0	-8.5	-19.6
Sales and maturities of investments	0	0
Cash from investing	-0.6	-2.13	-2.31	-46.7	-37.8	-172	-35.1	-43.8	-27.5	-30.6
Debt issued	16	0	0	20	15	549	25.5	50	38	419
Debt repaid	-11	-1.1	-1.65	0	-20	-52.8	-149	-77.1	-13	-466
Stock issued	0	0	0.73	6.49	7.21	4.3	2.02	0	0	56.8
Cash from financing	2.63	1.74	-0.92	26.2	-15.2	185	-128	-29.3	23.3	-10.9
Exchange rate effect	-0.12	-0	-0.03	-0.24	-0.31	-1.94	-1.63	2.52	-1.21	-2.45
Net change in cash	-4.75	6.57	-1.99	10.6	9.46	96	-51.6	-42	6.48	-2.12
Free cash flow	-6.66							4.4	-15.6	11.2
Interest paid	1.41	1.07	0.38	0.1	0.92	5.99	20.2	30.7	35.6	47.1
Income taxes paid			0	0	0.93	1.72	5.66	1.53	7.15	26.3

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $11.11 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	57.3%	Gross profit / revenue.
Operating margin	10.3%	Operating income / revenue.
EBITDA margin	17.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-4.0%	Pre-tax income / revenue.
Net margin	-5.8%	Net income / revenue.
Operating cash flow margin	8.5%	Cash from operations / revenue.
Return on equity (ROE)	-18.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-4.1%	Net income / average total assets.
Return on invested capital (ROIC)	9.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	6.8%	Research and development expense / revenue.
Stock-based pay / revenue	2.1%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	7.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	15.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	26.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-3.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	19.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income CAGR, 3y	-9.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-10.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	265.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-6.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	9.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	251.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-28.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-7.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	23.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-30.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-12.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	26.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	8.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	3.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.20x	Current assets / current liabilities.
Quick ratio	1.11x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.16x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.85x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	41.8%	Total debt / total assets.
Liabilities / assets	77.4%	Total liabilities / total assets.
Net debt	$309.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.89x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	0.99x	Operating income / interest expense.
Working capital	$56.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	51.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$240.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.71x	Revenue / average total assets.
Fixed asset turnover	12.5x	Revenue / average property, plant and equipment.
Receivables turnover	2.28x	Revenue / average receivables.
Days sales outstanding	160 days	365 x average receivables / revenue.
Days payables	215 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.29	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$4.97	Revenue / diluted weighted shares.
Operating cash flow per share	$0.42	Cash from operations / diluted weighted shares.
Book value per share	$1.58	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$1.99	Tangible book value / shares outstanding.
Cash per share	$0.35	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.34B	Share price x shares outstanding.
Enterprise value	$1.65B	Market cap + total debt - cash - short-term investments.
P/S	2.24x	Market cap / revenue.
P/B	7.05x	Market cap / shareholders' equity. Only when equity is positive.
P/OCF	26.4x	Market cap / cash from operations, when positive.
EV/Sales	2.76x	Enterprise value / revenue.
EV/EBIT	26.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.4x	Enterprise value / EBITDA, when both are positive.
Earnings yield	-2.6%	Net income / market cap (the inverse of P/E).

What was Digital Turbine, Inc.'s revenue in fiscal 2026?

Digital Turbine, Inc. reported revenue of $565.3M for fiscal 2026, 15.2% higher than the year before.

Was Digital Turbine, Inc. profitable in fiscal 2026?

No. It reported a net loss of $37.7M.

How much free cash flow did Digital Turbine, Inc. generate in fiscal 2026?

Cash from operations of $41.8M minus capital expenditures of $30.6M left free cash flow of $11.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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