Digital Turbine Fiscal 2021 Third Quarter Results
February 3, 2021
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“Our strong third quarter results represented an acceleration of the breakout momentum achieved in the first half of the fiscal year,” said Bill Stone, CEO. “We once again set all-time quarterly records for revenue, profitability and free cash flow. Total revenue grew 146% year-over-year, as we saw strong demand for both our Application Media and Content Media service offerings. The amount of time and money spent by consumers within applications continues to rise, as consumers increasingly grow accustomed to consuming more content and spending greater share of their wallets using the applications on their mobile devices. Businesses everywhere have reacted accordingly by placing increased emphasis on the functionality and monetization potential of their application-based storefronts. These powerful secular tailwinds have been driving, and we believe will continue to drive, significantly greater demand for our unique platform offerings.”
“I was once again exceptionally pleased with the bottom-line profitability showcased by our platform business model during the quarter. Higher gross margins and expanding operating leverage enabled us to turn our 146% annual revenue growth into more than 300% annual growth in Non-GAAP adjusted EBITDA, 278% growth in Non-GAAP EPS, and more than 200% growth in Non-GAAP free cash flow, as we continue to benefit from network effects and economies of scale.”
Mr. Stone concluded, “We believe that we are still in the early stages of our growth story at Digital Turbine, as we continue to employ our core diversification strategy in an effort to more fully leverage our global distribution footprint with both existing and newly-developed products and services. Partners and advertisers across the platform are deriving clear monetary and strategic value from a wide range of our services that work cohesively to provide end consumers with highly-relevant information, entertainment and e-commerce options at their fingertips. We remain particularly excited about the potential to expand the reach of our Content Media services, and we are likewise optimistic about the potential growth in some of our other high-growth initiatives, such as Single-Tap. We look forward to providing updates on our progress related to these and other growth initiatives in the quarters to come.”
