apps-20260630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 001-35958

DIGITAL TURBINE, INC.

(Exact Name of Registrant as Specified in Its Charter)


Delaware						22-2267658
(State or Other Jurisdiction of Incorporation or Organization)						(I.R.S. Employer Identification No.)
110 San Antonio Street, Suite 160, Austin, TX						78701
(Address of Principal Executive Offices)						(Zip Code)

(512) 387-7717

(Registrant’s Telephone Number, Including Area Code)

Securities Registered Pursuant to Section 12(b) of the Act:


Common Stock, Par Value $0.0001 Per Share	APPS	The Nasdaq Stock Market LLC
		(NASDAQ Capital Market)
(Title of Class)	(Trading Symbol)	(Name of Each Exchange on Which Registered)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large Accelerated Filer	☐	Accelerated Filer	☒
Non-Accelerated Filer	☐	Smaller Reporting Company	☐
Emerging Growth Company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of July 31, 2026, the Company had 121,016,250 shares of its common stock, $0.0001 par value per share, outstanding.

DIGITAL TURBINE, INC.

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTER ENDED June 30, 2026

TABLE OF CONTENTS






























PART I	FINANCIAL INFORMATION	3
ITEM 1.	CONSOLIDATED FINANCIAL STATEMENTS	3
	CONDENSED CONSOLIDATED BALANCE SHEETS	3
	CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)	4
	CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	5
	CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY	7
	NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	8
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	2 3
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	3 2
ITEM 4.	CONTROLS AND PROCEDURES	32
PART II	OTHER INFORMATION	3 3
ITEM 1.	LEGAL PROCEEDINGS	33
ITEM 1A.	RISK FACTORS	33
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	33
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	33
ITEM 4.	MINE SAFETY DISCLOSURES	33
ITEM 5.	OTHER INFORMATION	33
ITEM 6.	EXHIBITS	3 4
	SIGNATURES	3 4

Table of Contents

PART I - FINANCIAL INFORMATION

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS

Digital Turbine, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(in thousands, except par value and share amounts)

(Unaudited)



	June 30, 2026		March 31, 2026

ASSETS
Current assets
Cash, cash equivalents, and restricted cash	$	43,206	$	37,960

Accounts receivable, net	263,063		251,240
Prepaid expenses	6,734		6,060
Value-added tax receivable	3,192		4,461
Other current assets	17,077		12,149
Total current assets	333,272		311,870
Property and equipment, net	48,173		49,111
Right-of-use assets	8,145		7,739
Intangible assets, net	208,485		217,448
Goodwill	222,909		223,053

Other non-current assets	22,509		32,433
TOTAL ASSETS	$	843,493	$	841,654

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable	$	150,866	$	132,807
Accrued revenue share	85,755		87,215
Accrued compensation	12,310		22,408
Acquisition purchase price liabilities	436		436
Current portion of long-term debt	9,375		7,031
Other current liabilities	17,852		14,671
Total current liabilities	276,594		264,568
Long-term debt, net	343,488		353,932
Derivative liabilities	12,963		2,164
Deferred tax liabilities, net	14,531		15,818
Other non-current liabilities	5,325		4,838
Total liabilities	652,901		641,320
Commitments and contingencies (Note 13)
Stockholders’ equity

Series A convertible preferred stock, $0.0001 par value; 2,000,000 shares authorized, 100,000 issued and outstanding (liquidation preference of $1)	100		100

Common stock, $0.0001 par value: 200,000,000 shares authorized; 121,694,163 issued and 120,936,038 outstanding at June 30, 2026; 121,073,328 issued and 120,315,203 outstanding at March 31, 2026	10		10
Additional paid-in capital	971,823		969,062
Treasury stock, (758,125 shares at June 30, 2026, and March 31, 2026)	(71)		(71)
Accumulated other comprehensive loss	(52,940)		(51,766)
Accumulated deficit	(728,330)		(717,001)
Total stockholders’ equity	190,592		200,334

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	843,493	$	841,654

The accompanying notes are an integral part of these condensed consolidated financial statements.

Table of Contents

Digital Turbine, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

(in thousands, except per share amounts)

(Unaudited)


	Three Months Ended June 30,
	2026		2025
Net revenue	$	165,983	$	130,926
Costs of revenue and operating expenses
Revenue share	71,048		58,138
Other direct costs of revenue	12,964		10,804
Product development	10,590		10,147
Sales and marketing	15,333		13,589
General and administrative	32,987		42,909

Total costs of revenue and operating expenses	142,922		135,587
Income (loss) from operations	23,061		(4,661)
Interest and other expense, net

Interest expense, net	(12,890)		(9,954)

Unrealized loss on derivatives	(10,799)		—
Foreign exchange transaction gain (loss)	681		(914)

Other expense, net	(9,094)		(668)
Total interest and other expense, net	(32,102)		(11,536)
Loss before taxes	(9,041)		(16,197)
Income tax expense (benefit)	2,288		(2,093)
Net loss	(11,329)		(14,104)


Other comprehensive income (loss)
Foreign currency translation gain (loss)	(1,174)		4,200
Comprehensive loss	$	(12,503)	$	(9,904)


Net loss per share
Basic	$	(0.09)	$	(0.13)
Diluted	$	(0.09)	$	(0.13)
Weighted average common shares outstanding
Basic	120,672		106,627
Diluted	120,672		106,627

The accompanying notes are an integral part of these condensed consolidated financial statements.

Table of Contents

Digital Turbine, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)


	Three Months Ended June 30,
	2026		2025

Cash flows from operating activities
Net loss	$	(11,329)	$	(14,104)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	16,805		23,337
Amortization of debt discount, issuance costs, and exit and duration fees	1,600		1,154

Provision for credit losses on accounts receivable	277		788
Unrealized loss on derivatives	10,799		—
Stock-based compensation expense	2,448		6,267

Fair value adjustment to non-marketable equity securities	9,281		—
Foreign exchange transaction loss (gain)	(681)		914

Non-cash lease expense	869		790
Change in deferred income taxes	(1,259)		797

Changes in operating assets and liabilities:
Accounts receivable	(12,228)		(22,917)