# Digital Turbine, Inc. (APPS) — Stock CV

Digital Turbine, Inc. is a $1.27B financial services company. Revenue grew 19.2% over the last year, and it currently loses money.

> Digital Turbine Inc is an independent mobile growth platform that levels up the landscape for advertisers, publishers, carriers, and device original equipment manufacturers.

## Identity

- **Ticker**: APPS
- **Sector**: Financial Services
- **Industry**: Patent Owners & Lessors
- **Headquarters**: AUSTIN, TX
- **Employees**: 620
- **Website**: https://www.digitalturbine.com
- **Market cap**: $1.27B
- **Last price**: $10.45
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $600M
- **Net income**: -$35.0M
- **Free cash flow**: $44.2M
- **P/E**: 30.6
- **Revenue growth (YoY)**: 19.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 77 |
| Growth | 25 |
| Profitability | 12 |
| Health | 18 |
| Quality | 53 |
| Moat | 20 |

## Qualifications (beginner checklist) — 5 of 10 passed

- [x] Revenue growing — +19.2% YoY
- [ ] Profitable — -$35.0M TTM
- [x] Profit growing — +59.0% YoY
- [x] Generates cash — $44.2M TTM
- [x] Debt under control — current ratio 1.20
- [ ] Established company — $1.27B market cap
- [ ] Not printing shares — +17.4% shares over ~5y
- [ ] Proven track record — 4/11 profitable years
- [ ] Financially stable — Altman Z 0.3 — distress
- [x] Valuation not extreme — P/E 30.6

## Experience (career milestones)

- **FY2021** — Best year on record: $54.9M net income
- **FY2020** — Turned profitable: $13.9M net income after a loss year
- **FY2018** — Became debt-free: cash now exceeds total debt
- **FY2018** — Positive free cash flow every year since: 9-year streak

## Strengths

- High gross margin (49.1%)
- Revenue growing 19.2% year over year
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Not profitable — 5.8% net margin
- Altman Z-Score 0.32 — elevated financial-distress risk
- Net debt would take ~14.8 years of free cash flow to repay
- Thin interest coverage (0.4×)
- Loss-making in 6 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $748M | $35.5M | $84.7M |
| FY2023 | $666M | $16.7M | $113M |
| FY2024 | $544M | -$420M | $28.7M |
| FY2025 | $491M | -$92.1M | $11.9M |
| FY2026 | $565M | -$37.7M | $11.2M |

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Source: https://stockcv.com/APPS — derived from company filings; may be delayed or incomplete. Information, not investment advice.