# Digital Turbine, Inc. (APPS)

> Source: Nexqual · https://nexqual.com/APPS · data as of 2026-10-29 17:41 UTC · cite as "Nexqual, Digital Turbine, Inc. (APPS), nexqual.com/APPS" · informational, not investment advice.

**Price:** USD 10.6 (+6.96% today) · US market open, as of October 29, 2026 at 17:41 UTC; quotes may be delayed. Prev close 9.91 · day 9.9–10.67 · 52w 2.74–15.34 · market cap $1.29B · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $600M, net income -$35.0M (-5.8% margin) (SEC filings).
- Analysts: Buy (mean 1.75 on a 1–5 scale) (4 analysts), mean target USD 17 (range 15–19).
- Total return with dividends: 1Y +69.3% vs S&P 500 +12.9%; 5Y -87.7% vs S&P 500 +78.8%.
- Next earnings: 2026-11-02, EPS estimate USD 0.17, revenue estimate $167M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $748M | $666M | $544M | $491M | $565M | $600M |
| Gross profit | $377M | $357M | $282M | $255M | $322M | — |
| Operating income | $92.2M | $46.2M | -$374M | -$54.1M | $34.0M | $61.8M |
| Net income | $35.5M | $16.7M | -$420M | -$92.1M | -$37.7M | -$35.0M |
| EPS (diluted) | $0.35 | $0.16 | -$4.16 | -$0.89 | -$0.33 | — |
| Free cash flow | — | — | $4.4M | -$15.6M | $11.2M | — |
| Gross margin | 50.4% | 53.6% | 51.8% | 52.0% | 56.9% | — |
| Operating margin | 12.3% | 6.9% | -68.8% | -11.0% | 6.0% | 10.3% |
| Net margin | 4.8% | 2.5% | -77.2% | -18.8% | -6.7% | -5.8% |
| Revenue growth | +138.4% | -10.9% | -18.2% | -9.9% | +15.2% | — |
| Cash + short-term investments | $127M | $75.1M | $32.9M | $39.4M | $37.7M | — |
| Total debt | $533M | $411M | $383M | $409M | $361M | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 2.1x · EV/EBITDA 14.9x · EV/Sales 2.7x · P/B 6.8x · Earnings yield -2.71% · Net debt $310M · EV $1.60B

## Analysts
Consensus Buy (mean 1.75 on a 1–5 scale), 4 analysts; mean target USD 17 (low 15, high 19).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-01 | RBC Capital | Initiated | Outperform | $15 |
| 2026-08-05 | Benchmark | Target raised | Buy | $15 → $16 |
| 2026-07-22 | Benchmark | Initiated | Buy | $15 |
| 2026-07-21 | Roth Capital | Initiated | Buy | $11.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +69.3% | -87.7% |
| S&P 500 (SPY) | +12.9% | +78.8% |
| Per year | +69.4% | -34.1% |
| Volatility (annualized) | 93.2% | 105.8% |
| Max drawdown | -61.3% (Nov 2025→Apr 2026) | -98.5% (Oct 2021→Nov 2024) |

## Peers (Software - Application)
RNG (Ringcentral, Inc.) USD 83.87 -2.71% · APPF (AppFolio, Inc.) USD 204.78 -0.11% · TTAN (ServiceTitan, Inc.) USD 80.1 -0.95% · DSGX (The Descartes Systems Group Inc) USD 91.37 -1.07% · IDCC (InterDigital, Inc.) USD 335.06 +4.52% · YMM (Full Truck Alliance Co. Ltd.) USD 8.04 -0.56%

## More
Full page: https://nexqual.com/APPS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.17 | $0.17 | +2.0% | $166.9M | 3 |
| Next quarter (ends 2026-12-31) | $0.20 | $0.21 | -6.3% | $173.4M | 3 |
| Current fiscal year (ends 2027-03-31) | $0.71 | $0.73 | -3.2% | $665.2M | 3 |
| Next fiscal year (ends 2028-03-31) | $0.94 | $0.98 | -4.2% | $743.5M | 3 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.19 | $0.14 | Beat +35.7% | — |
| — | Quarter ended Mar 31, 2026 | $0.16 | $0.09 | Beat +77.8% | — |
| — | Quarter ended Dec 31, 2025 | $0.18 | $0.12 | Beat +50.0% | — |
| — | Quarter ended Sep 30, 2025 | $0.15 | $0.05 | Beat +200.0% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-01 | 8-K | Other material event — “On October 1, 2026, Digital Turbine, Inc. (the "Company") filed a universal shelf registration statement on Form S-3ASR (File No. 333-299236) (the "Registration Statement") and a Rule 424(b)(7) resale shelf prospectus supplement to the Registration Statement (the "Prospectus Supplement") with the Securities and Exchange Commission under the Securities Act of 1933, as amended. The Prospectus Supplement covers 1,222,418 shares of the Company's common stock, par value $0.0001 per share, that may be sold from time to…” | https://www.sec.gov/Archives/edgar/data/317788/000162828026064273/0001628280-26-064273-index.htm |
| 2026-09-24 | 8-K | Director or executive officer change, or pay arrangement — “(b) On September 23, 2026, Michael Akkerman, Chief Business Officer of Digital Turbine, Inc. (the "Company"), resigned his position with the Company to accept a Chief Executive Officer opportunity with another company. His resignation is effective October 30, 2026.” | https://www.sec.gov/Archives/edgar/data/317788/000162828026063322/0001628280-26-063322-index.htm |
| 2026-09-08 | 8-K | Director or executive officer change, or pay arrangement — “On September 1, 2026, the Board of Directors of Digital Turbine, Inc. (the "Company") and the Compensation and Human Capital Management Committee of the Company (the "Compensation Committee") approved the grant of fiscal year 2027 long-term incentive awards (the "FY2027 LTI Awards") to the Company's named executive officers under the Company's 2020 Equity Incentive Plan, as amended. The FY2027 LTI Awards have a grant date of September 2, 2026 and consist of performance-based restricted stock units ("PSUs") and…” | https://www.sec.gov/Archives/edgar/data/317788/000162828026060913/0001628280-26-060913-index.htm |
| 2026-08-25 | 8-K | Director or executive officer change, or pay arrangement; Shareholder vote results — “(e) On August 25, 2026, at the annual stockholders meeting of Digital Turbine, Inc. (the "Company"), the Company's stockholders approved a fourth amendment (the "Fourth Amendment") to the Company's 2020 Equity Incentive Plan to increase the number of shares of common stock authorized for issuance thereunder by 10,630,000 shares, from 20,560,000 shares to 31,190,000 shares and to make certain other changes.” | https://www.sec.gov/Archives/edgar/data/317788/000162828026058877/0001628280-26-058877-index.htm |
| 2026-08-11 | Schedule 13G/A | Granahan Investment Management LLC: 2.9% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/317788/000139834426014065/0001398344-26-014065-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/317788/000162828026053446/0001628280-26-053446-index.htm |
| 2026-08-05 | 8-K/A | Quarterly results | https://www.sec.gov/Archives/edgar/data/317788/000162828026053445/0001628280-26-053445-index.htm |
| 2026-08-04 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/317788/000162828026052539/0001628280-26-052539-index.htm |
| 2026-07-27 | Schedule 13G | Orin Hirschman, AIGH Capital Management LLC: 5.4% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/317788/000149315226034784/0001493152-26-034784-index.htm |
| 2026-07-13 | DEFA14A | Additional proxy material | https://www.sec.gov/Archives/edgar/data/317788/000162828026048038/0001628280-26-048038-index.htm |
| 2026-07-13 | DEF 14A | Proxy statement (pay, board, votes) · period ended Mar 31, 2026 | https://www.sec.gov/Archives/edgar/data/317788/000162828026048037/0001628280-26-048037-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.