APPSDigital Turbine, Inc.
Patent Owners & Lessors
- Revenue
- $565M
- 15% YoY
- Operating margin
- 6.0%
- 155% YoY
- EBITDA
- $105M
- 266% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 2.9×
- $310M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear3% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear26% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $748M | $666M | $544M | $491M | $565M | 15% |
| Operating income | $92M | $46M | −$374M | −$54M | $34M | 163% |
| Net income | $36M | $17M | −$420M | −$92M | −$38M | 59% |
| Operating cash flow | $85M | $113M | $29M | $12M | $42M | 252% |
| Capex | — | — | $24M | $27M | $31M | 11% |
| Stock-based comp | $19M | $30M | $34M | $34M | $16M | 51% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $5M | $3M | 4 | 27 |
| FY2025 | $2M | $3M | 3 | 39 |
| FY2024 | $8M | −$2M | 3 | 47 |
| FY2023 | $8M | −$4M | 15 | 47 |
| FY2022 | $8M | −$6M | 55 | 60 |