Digital Turbine Inc. (NASDAQ: APPS) stock declined by 1.63% at the last close whereas the APPS stock price gains by 2.57% at the last check in the pre-market trading. Digital Turbine makes content discovery easier and brings related content to consumer devices explicitly. The on-demand media platform from APPS enables frictionless app and content discovery, user acquisition and interaction, operational productivity, and revenue opportunities.
What is happening?
Today, APPS announced the completion of its acquisition of AdColony Holding AS (“AdColony”). Digital Turbine’s stated plan is to provide a broad media and advertising platform for their operator and OEM partners while enhancing the mobile experience to customers by providing highly valuable content. The acquisition of AdColony, a leading mobile advertising network serving advertisers and publishers with a network of more than 1.5 billion monthly users worldwide, is central to that strategy.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .
Ad Colony’s patented video platforms and rich media formats are widely regarded as best-in-class, providing industry-leading third-party validated viewability ratings for household names like Disney, Amazon, and BMW.
Preliminary Financial Results
Along with the recent acquisition news, Digital Turbine also announced its preliminary, unaudited financial results for its fourth quarter and fiscal year ended March 31, 2021:
- Revenue for the fourth quarter of fiscal 2021 is estimated to be about $95.1 million, up from $39.4 million in the fourth quarter of fiscal 2020, reflecting a 142 percent rise on an as-reported basis. Revenue for the entire fiscal year 2021 is estimated to be about $313.6 million, reflecting a 126 percent improvement on an as-reported basis over revenue of $138.7 million in the fiscal year 2020.
It is important to mention that Preliminary, unaudited historical financial results for Digital Turbine are centered on details available as of April 29, 2021, which do not include any influence from the now-completed AdColony acquisition.
APPS currently estimates the following for the first quarter of fiscal 2022, based on details available as of April 29, 2021, along with AdColony results starting on April 29, 2021 (the acquisition’s closing date):
- The expected value of revenue is between $135 million and $140 million whereas the Non-GAAP Adjusted EBITDA would range between $25 million and $27 million.