Q4 2024 Digital Turbine Inc Earnings Call Transcript
Key Points
- Digital Turbine Inc (APPS) achieved $545 million in revenue for fiscal 2024, despite a challenging operating environment.
- The company has made significant progress on numerous investment activities, including a new version of Ignite and the launch of SDK Bidding.
- Digital Turbine Inc (APPS) is expanding its device footprint, anticipating an incremental 70 million-plus devices launching with various Ignite capabilities.
- The company has secured a global preferred partner status with GroupM, the largest media buying agency in the world, which is expected to unlock significant media dollars.
- Digital Turbine Inc (APPS) is seeing encouraging signs of growth in brand revenues, with a 15% year-over-year increase in the March quarter.
- Total revenue for the fiscal year 2024 was down 18% year-on-year.
- US device sales continue to be challenging, with postpaid upgrade rates implying an unsustainable eight-year upgrade cycle.
- The company faced a $20 million decrease in revenue from non-gaming Chinese companies due to distribution challenges in the US market.
- Adjusted EBITDA for fiscal 2024 was $92.4 million, down from the previous year.
- Digital Turbine Inc (APPS) reported a GAAP net loss of $2.32 per share in the fourth quarter, primarily due to a noncash goodwill impairment charge.
Good day and welcome to the Digital Turbine reports fourth quarter and fiscal 2024 financial results call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Brian Bartholomew, Senior Vice President of Capital Markets. Please go ahead.
Thanks, Nick. Good afternoon, and welcome to the Digital Turbine fourth quarter and fiscal 2024 earnings conference call. Joining me on the call today to discuss our results, our CEO Bill Stone and CFO Barrett Garrison.
Before we get started, I'd like to take this opportunity to remind you that our remarks today will include forward-looking statements. These forward-looking statements are based on our current assumptions, expectations and beliefs, including projected operating metrics, future products and services, anticipated market demand and other forward-looking topics. Although we believe that our assumptions are reasonable, they are not guarantees of future
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