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Digital Turbine Inc. (APPS-11.69%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a decrease in net revenue to $134,637,000 from $142,634,000 in the same quarter the previous year. The decline is attributed to lower revenue from both On Device Solutions and App Growth Platform segments.
Revenue share costs decreased slightly to $69,947,000, representing 52% of total net revenue, compared to 49.3% in the same quarter of the previous year.
Product development expenses decreased to $10,203,000 from $13,036,000, while sales and marketing expenses increased to $15,494,000 from $14,432,000.
General and administrative expenses were reduced to $42,792,000 from $45,455,000 in the previous year. The company did not record any impairment of goodwill during the quarter.
Interest expense increased to $8,446,000 from $7,666,000 due to higher interest rates and average outstanding borrowings.
The company reported a net loss of $23,131,000 for the quarter, compared to a net loss of $14,061,000 in the previous year.
Cash provided by operating activities was $372,000, a significant decrease from $40,433,000 in the previous year.
Digital Turbine's total assets as of December 31, 2024, were $839,710,000, down from $865,540,000 as of March 31, 2024.
The filing outlines a transformation program initiated in October 2024 aimed at reducing operating expenses and optimizing business operations. The program includes workforce reductions and is expected to be completed by the first quarter of fiscal year 2026.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Digital Turbine Inc. quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.