Digital Turbine(APPS) - 2024 Q4 - Annual Results

Revenue Performance - Q4 2024 revenue totaled $112.2 million, a 20% YoY decline compared to Q4 2023[2] - FY 2024 revenue totaled $544.5 million, with On Device Solutions revenue at $370.1 million and App Growth Platform revenue at $178.8 million[6] - Net revenue for Q4 2024 was $112.2 million, a decrease of 19.9% compared to $140.1 million in Q4 2023[28] - Revenue for Q1 2024 decreased by 20% to $112.2 million compared to $140.1 million in Q1 2023[36] - On Device Solutions revenue declined 19% to $78.5 million in Q1 2024 compared to $96.9 million in Q1 2023[36] - App Growth Platform revenue decreased 23% to $34.4 million in Q1 2024 compared to $45.0 million in Q1 2023[36] Net Loss and Impairment Charges - Q4 2024 GAAP net loss was $236.5 million, including a noncash goodwill impairment charge of $189.5 million[2] - FY 2024 GAAP net loss was $420.4 million, including a noncash goodwill impairment charge of $336.6 million[6] - Net loss for Q4 2024 was $236.5 million, compared to a net loss of $13.9 million in Q4 2023[28] - Goodwill impairment of $189.5 million was recorded in Q4 2024, contributing to the significant net loss[28] - Net loss for Q1 2024 was $236.5 million, compared to a net loss of $13.9 million in Q1 2023[34] - Goodwill impairment charge of $189.5 million was recorded in Q1 2024[34] Non-GAAP Financial Metrics - Q4 2024 Non-GAAP adjusted net income was $12.6 million, or $0.12 per share[2] - Q4 2024 Non-GAAP adjusted EBITDA was $12.3 million, compared to $23.1 million in Q4 2023[2] - FY 2024 Non-GAAP adjusted net income was $60.3 million, or $0.58 per share[6] - FY 2024 Non-GAAP adjusted EBITDA was $92.4 million, compared to $163.2 million in FY 2023[7] - Non-GAAP gross profit margin improved to 46% in Q1 2024 from 44% in Q1 2023[37] - Non-GAAP adjusted EBITDA was $12.3 million in Q1 2024, down from $23.1 million in Q1 2023[40] Cash Flow and Financial Position - Cash and cash equivalents decreased to $33.6 million in Q4 2024 from $75.6 million in Q4 2023[31] - Cash and cash equivalents decreased to $33.6 million at the end of Q1 2024 from $49.5 million at the beginning of the quarter[34] - Capital expenditures were $6.9 million in Q1 2024, up from $5.3 million in Q1 2023[42] - Non-GAAP free cash flow was negative $15.6 million in Q1 2024 compared to positive $12.5 million in Q1 2023[42] Balance Sheet Changes - Total assets decreased to $865.5 million in Q4 2024 from $1.27 billion in Q4 2023[31] - Accounts receivable increased to $191.0 million in Q4 2024 from $178.2 million in Q4 2023[31] - Long-term debt decreased to $383.5 million in Q4 2024 from $410.5 million in Q4 2023[31] Operating Expenses and Costs - Total costs of revenue and operating expenses increased to $320.1 million in Q4 2024 from $149.3 million in Q4 2023[28] Comprehensive Loss - Comprehensive loss attributable to Digital Turbine, Inc. was $239.0 million in Q4 2024, compared to $11.7 million in Q4 2023[28] Earnings Per Share - Basic and diluted net loss per share was $2.32 in Q4 2024, compared to $0.14 in Q4 2023[28] Future Guidance - FY 2025 revenue guidance is between $540 million and $560 million, with Non-GAAP adjusted EBITDA between $85 million and $95 million[8] Partnerships and Growth - New partnerships are expected to add over 70 million new devices globally[2]