Digital Turbine Balance Sheet Health
Financial Health criteria checks 3/6
Digital Turbine has a total shareholder equity of $194.6M and total debt of $355.0M, which brings its debt-to-equity ratio to 182.4%. Its total assets and total liabilities are $858.2M and $663.6M respectively. Digital Turbine's EBIT is $13.3M making its interest coverage ratio 0.3. It has cash and short-term investments of $40.2M.
Key information
182.41%
Debt to equity ratio
US$354.97m
Debt
| Interest coverage ratio | 0.3x |
| Cash | US$40.18m |
| Equity | US$194.60m |
| Total liabilities | US$663.57m |
| Total assets | US$858.18m |
Recent financial health updates
Analysis Article • Jul 11
Is Digital Turbine (NASDAQ:APPS) A Risky Investment?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Dec 20
Health Check: How Prudently Does Digital Turbine (NASDAQ:APPS) Use Debt?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Aug 08
Is Digital Turbine (NASDAQ:APPS) Using Debt Sensibly?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Analysis Article • Mar 25
Digital Turbine (NASDAQ:APPS) Has Debt But No Earnings; Should You Worry?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Dec 05
Would Digital Turbine (NASDAQ:APPS) Be Better Off With Less Debt?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Recent updates
Narrative Update • May 01
APPS: Peer Repricing And 2026 Outlook Will Support Future Multiple Expansion
Analysts kept Digital Turbine's fair value estimate steady at $7.50, with only minor tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions as they reassessed the mobile advertising space in light of recent bullish and mixed research on peers like AppLovin. Analyst Commentary Street research on peers like AppLovin offers useful context for how investors might frame risk and reward for Digital Turbine, especially around execution on growth initiatives, margin durability, and valuation support.Narrative Update • Apr 17
APPS: Peer Repricing And 2026 Guidance Will Support Future Multiple Expansion
Analysts have maintained their fair value estimate for Digital Turbine at $7.50 and have made slight adjustments to assumptions around the discount rate, revenue growth, profit margins, and future P/E. These changes reflect updated views on app monetization peers following recent bullish and mixed research on AppLovin and related ad tech companies.
Narrative Update • Apr 02
APPS: Raised 2026 Guidance And Stable Fair Value Will Support Ad Tech Upside
Analysts are keeping the fair value estimate for Digital Turbine steady at $8.75 while updating assumptions such as a higher discount rate. This reflects sector wide reassessments seen in recent adtech and mobile gaming research rather than a company specific shift.
Narrative Update • Mar 19
APPS: Higher 2026 Guidance Will Support Richer Future Earnings Multiple
Analysts have lifted their fair value estimate for Digital Turbine from $8.00 to $10.00, citing higher assumed revenue growth and a willingness to apply a richer future P/E multiple, even as updated models factor in a slightly higher discount rate and more modest profit margin assumptions. Analyst Commentary Street research around adjacent mobile ad tech names points to a generally supportive backdrop for platforms that can pair strong execution with clear product catalysts.Narrative Update • Mar 05
APPS: Peer Repricing And 2026 Guidance Will Support Future Multiple Re Rating
Narrative Update on Digital Turbine Analysts kept their $7.50 fair value estimate for Digital Turbine steady, while modestly adjusting assumptions around discount rates, revenue growth, margins, and future P/E to reflect updated sector research and shifting expectations across mobile advertising peers such as AppLovin and Unity. Analyst Commentary Recent sector research around mobile advertising peers points to a mixed backdrop that feeds into how analysts look at Digital Turbine.Narrative Update • Feb 19
APPS: Higher P/E And 2026 Outlook Will Support Ad Tech Upside
Analysts are maintaining their fair value estimate for Digital Turbine at $8.75, with a slightly lower discount rate, moderately higher revenue growth assumptions, a softer profit margin outlook, and a higher future P/E input shaping the updated price target narrative. Analyst Commentary Recent sector research around mobile advertising and app monetization peers offers some context for how analysts are thinking about a company like Digital Turbine.Narrative Update • Feb 05
APPS: Peer Repricing And New Guidance Will Support Future Multiple Re Rating
Analysts have trimmed their price target on Digital Turbine to reflect slightly lower revenue growth and profit margin assumptions, while modestly lifting the implied future P/E multiple as they reassess the ad tech peer group after recent moves in names such as AppLovin and Unity. Analyst Commentary Recent sector research around larger ad tech and gaming peers has filtered into views on Digital Turbine, with analysts using moves in AppLovin and Unity as reference points for reassessing valuation frameworks and execution risk.Narrative Update • Jan 22
APPS: Peer Repricing And Compliance Focus Will Support Future Multiple Re Rating
Analysts have modestly trimmed their price targets on Digital Turbine, citing slightly lower future P/E assumptions for smaller ad platforms. Updated models reflect steady fair value, a marginally lower discount rate and refreshed expectations for revenue growth and profit margin.Narrative Update • Jan 07
APPS: Privacy Compliance And Peer Repricing Will Support Future Re Rating Potential
Analysts have maintained their fair value estimate for Digital Turbine at US$7.50, with only small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions that reflect updated views on mobile advertising peers after recent Street research. Analyst Commentary Recent Street research on mobile advertising peers has centered on AppLovin, with several firms updating their views following Q3 results and subsequent outlook commentary.Narrative Update • Dec 20
APPS: Improved Privacy Compliance Will Drive Re-Rating Potential Ahead
Analysts have raised their fair value estimate for Digital Turbine to $7.50 from $5.50. This reflects increased confidence in faster top line growth, a lower risk profile, and higher long term earnings power supported by improving ad tech fundamentals across the broader digital advertising space.Analysis Article • Dec 06
Why Investors Shouldn't Be Surprised By Digital Turbine, Inc.'s (NASDAQ:APPS) 31% Share Price Plunge
The Digital Turbine, Inc. ( NASDAQ:APPS ) share price has softened a substantial 31% over the previous 30 days, handing...Narrative Update • Dec 06
APPS: Expanding Ad Tech And E-Commerce Reach Will Drive Upside Potential
Analysts have modestly reduced their price target for Digital Turbine to $8.75 per share, citing slightly lower risk premiums and incrementally stronger long term margin assumptions that align the valuation more closely with updated sector multiples in high growth ad tech peers. Analyst Commentary Bullish analysts point to the aggressive upward repricing across high growth ad tech peers as a supportive backdrop for Digital Turbine, arguing that investors are willing to pay premium multiples for platforms that can demonstrate durable growth, expanding margins, and a credible path to scale outside their original core verticals.Narrative Update • Nov 22
APPS: Expanding Ad Technology and International Reach Will Drive New Opportunities
Analysts have maintained Digital Turbine’s fair value estimate at $8.75 per share. They cite a balanced outlook with recent revisions to revenue growth and discount rates, reflecting evolving sector dynamics.Narrative Update • Nov 07
APPS: Expanding Self-Serve Ad Tools Will Unlock New Market Opportunities
Digital Turbine's fair value estimate has been increased from $6.75 to $8.75 per share. Analysts cite higher price targets for digital advertising peers and improving sector growth forecasts as key drivers for the upward adjustment.Analysis Article • Oct 04
Improved Revenues Required Before Digital Turbine, Inc. (NASDAQ:APPS) Stock's 51% Jump Looks Justified
Digital Turbine, Inc. ( NASDAQ:APPS ) shareholders would be excited to see that the share price has had a great month...Analysis Article • Aug 20
Digital Turbine, Inc. (NASDAQ:APPS) Not Doing Enough For Some Investors As Its Shares Slump 26%
Digital Turbine, Inc. ( NASDAQ:APPS ) shareholders won't be pleased to see that the share price has had a very rough...Narrative Update • Aug 07
Accelerating Mobile Trends Will Broaden Open App Markets
Analysts have substantially raised their price target for Digital Turbine, driven by sharply improved forecasts for both future earnings multiples and revenue growth, resulting in a consensus fair value increase from $2.72 to $6.75. What's in the News Raised fiscal year 2026 revenue guidance to $525–$535 million.Analysis Article • Jul 11
Is Digital Turbine (NASDAQ:APPS) A Risky Investment?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Seeking Alpha • Jul 09
Digital Turbine: The Turnaround Is Real, But The Price Isn't Right
Summary Digital Turbine's return to revenue growth and improved balance sheet are positive, but recent gains are already reflected in the stock price. Management's raised guidance and strong Revenue Per Device growth are encouraging, yet sustainability remains uncertain. Valuation appears stretched, with the stock trading above 2x EV/Revenue despite muted growth, poor profitability, and recent underperformance. Given these factors, I recommend a 'Hold' rating for long-term investors, as current risks and uncertainties are not fully resolved. Read the full article on Seeking AlphaAnalysis Article • Jun 11
Digital Turbine, Inc. (NASDAQ:APPS) Held Back By Insufficient Growth Even After Shares Climb 26%
Digital Turbine, Inc. ( NASDAQ:APPS ) shares have continued their recent momentum with a 26% gain in the last month...Analysis Article • Apr 09
The Market Doesn't Like What It Sees From Digital Turbine, Inc.'s (NASDAQ:APPS) Revenues Yet As Shares Tumble 25%
The Digital Turbine, Inc. ( NASDAQ:APPS ) share price has softened a substantial 25% over the previous 30 days, handing...
New Narrative • Apr 02
Steve Lasher And SDK Bidding Will Streamline Operations
New CFO Steve Lasher's experience is expected to enhance operational efficiency and financial planning, potentially improving net margins.Seeking Alpha • Mar 30
Digital Turbine: DTX's Gross Margins Support The Bull Thesis
Summary APPS's bull thesis hinges on stabilizing ODS and growing the advertisement segment, leveraging high gross margins in DTX despite lower R&D investments. APPS's shift from waterfall to SDK bidding is enhancing ad performance, but net debt and asset-heavy operations pose substantial risks. Valuation models suggest APPS is fairly valued, with potential upside if advertising segment succeeds, but I rate it a hold, because it doesn't fit my investment style. Read the full article on Seeking AlphaAnalysis Article • Feb 06
Digital Turbine, Inc. (NASDAQ:APPS) Held Back By Insufficient Growth Even After Shares Climb 25%
Digital Turbine, Inc. ( NASDAQ:APPS ) shares have continued their recent momentum with a 25% gain in the last month...Seeking Alpha • Feb 06
Digital Turbine Q3 Earnings: Why I'm Still Not Fully Convinced
Summary Digital Turbine's stock surged 30% after a solid earnings beat and raised guidance, but its balance sheet remains precarious, necessitating potential shareholder dilution. Despite improved brand relationships and a positive revenue outlook, the company’s net debt and low cash reserves are concerning. The stock is cheap, trading at less than 1x forward sales, but poor EBITDA to free cash flow conversion limits its attractiveness. I'm neutral on Digital Turbine; short-term momentum is promising, but long-term sustainability remains uncertain due to financial instability. Read the full article on Seeking AlphaAnalysis Article • Dec 20
Health Check: How Prudently Does Digital Turbine (NASDAQ:APPS) Use Debt?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Dec 20
Digital Turbine, Inc. (NASDAQ:APPS) Stock Catapults 45% Though Its Price And Business Still Lag The Industry
Digital Turbine, Inc. ( NASDAQ:APPS ) shareholders are no doubt pleased to see that the share price has bounced 45% in...Analysis Article • Oct 12
Digital Turbine, Inc.'s (NASDAQ:APPS) Shares Bounce 26% But Its Business Still Trails The Industry
Digital Turbine, Inc. ( NASDAQ:APPS ) shares have continued their recent momentum with a 26% gain in the last month...Analysis Article • Aug 21
Should Shareholders Reconsider Digital Turbine, Inc.'s (NASDAQ:APPS) CEO Compensation Package?
Key Insights Digital Turbine's Annual General Meeting to take place on 27th of August Total pay for CEO Bill Stone...Analysis Article • Aug 20
Digital Turbine, Inc.'s (NASDAQ:APPS) Price Is Right But Growth Is Lacking After Shares Rocket 93%
The Digital Turbine, Inc. ( NASDAQ:APPS ) share price has done very well over the last month, posting an excellent gain...Analysis Article • Aug 08
Is Digital Turbine (NASDAQ:APPS) Using Debt Sensibly?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Seeking Alpha • Jul 15
Digital Turbine: Decline In All Areas, Stay Away
Summary I don't see any signs of a turnaround. Digital Turbine stock looks cheap, but the estimates have always been too optimistic. The company continues to decline in revenue, the margins are getting worse, interest payments are increasing. Read the full article on Seeking AlphaAnalysis Article • Jun 14
Lacklustre Performance Is Driving Digital Turbine, Inc.'s (NASDAQ:APPS) 35% Price Drop
To the annoyance of some shareholders, Digital Turbine, Inc. ( NASDAQ:APPS ) shares are down a considerable 35% in the...Seeking Alpha • Jun 11
Digital Turbine: Call Of The Void
Summary Digital Turbine's financial results continue to disappoint, pressuring the stock, despite a low valuation. Poor results have been attributed to soft device sales and a tech stack migration, but after several years of weakness it is difficult to continue blaming macro conditions. While SingleTap has potential, this part of the business doesn't appear to have any momentum. Until Digital Turbine focuses on efficiency, it is hard to be optimistic about the company's prospects. Read the full article on Seeking AlphaSeeking Alpha • May 29
Digital Turbine Earnings: A Stock You Should Not Buy, Debt Is A Problem
Summary Digital Turbine stock is downgraded from hold to sell due to unappealing prospects and a heavy debt burden. The company faces challenges in monetizing through new device activations and transitioning its revenue base to align with new regulatory environments. Digital Turbine's financials reveal stagnant revenue growth, consistent misses on analysts' estimates, and a poor free cash flow conversion ratio. Read the full article on Seeking AlphaAnalysis Article • Apr 25
Digital Turbine, Inc. (NASDAQ:APPS) Looks Inexpensive After Falling 25% But Perhaps Not Attractive Enough
To the annoyance of some shareholders, Digital Turbine, Inc. ( NASDAQ:APPS ) shares are down a considerable 25% in the...Analysis Article • Mar 25
Digital Turbine (NASDAQ:APPS) Has Debt But No Earnings; Should You Worry?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Seeking Alpha • Mar 18
Digital Turbine: Why I Will Stay Clear For Now
Summary Digital Turbine's stock has dropped 82% since my last coverage in 2021. On-Device Solution Revenue declined by 9.8% YoY, primarily due to lower mobile device sales and the loss of a major partner, T-Mobile. The App-Growth Platform revenue declined by 30% YoY due to weaker demand and the integration of legacy platforms. SingleTap's revenue generation remains below expectations. While the pursuit of alternative app stores holds potential, revenue generation from this segment remains nascent and requires careful monitoring for future growth. Read the full article on Seeking AlphaAnalysis Article • Mar 04
Lacklustre Performance Is Driving Digital Turbine, Inc.'s (NASDAQ:APPS) 40% Price Drop
The Digital Turbine, Inc. ( NASDAQ:APPS ) share price has fared very poorly over the last month, falling by a...Seeking Alpha • Feb 09
Digital Turbine Stock: Upgrading To Buy Following The Bloodbath
Summary Digital Turbine faced challenges in Q3, including disappointing device sales, migration issues with its cloud hosting platform, and changes to AI models affecting ad revenue. The outlook for Digital Turbine is expected to improve with the projected recovery of the smartphone market and increased ad spending in 2024. Projections from IDC and Canalys point to approximately 4% growth in smartphone unit shipments this year, which would mark a return to growth after two years. At a forward earnings yield of around 12%, Digital Turbine seems attractively valued. However, it's difficult to see APPS stock turning a corner in the short term due to the absence of a catalyst. Read the full article on Seeking AlphaAnalysis Article • Jan 04
Digital Turbine, Inc. (NASDAQ:APPS) Looks Inexpensive But Perhaps Not Attractive Enough
Digital Turbine, Inc.'s ( NASDAQ:APPS ) price-to-sales (or "P/S") ratio of 1.1x might make it look like a strong buy...Analysis Article • Dec 05
Would Digital Turbine (NASDAQ:APPS) Be Better Off With Less Debt?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Oct 06
Investors Will Want Digital Turbine's (NASDAQ:APPS) Growth In ROCE To Persist
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Financial Position Analysis
Short Term Liabilities: APPS's short term assets ($318.1M) exceed its short term liabilities ($288.1M).
Long Term Liabilities: APPS's short term assets ($318.1M) do not cover its long term liabilities ($375.4M).
Debt to Equity History and Analysis
Debt Level: APPS's net debt to equity ratio (161.8%) is considered high.
Reducing Debt: APPS's debt to equity ratio has increased from 16.9% to 182.4% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable APPS has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: APPS is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 19.3% per year.
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 23:08 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Digital Turbine, Inc. is covered by 6 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Omar Dessouky | BofA Global Research |
| Zachary Silver | B. Riley Securities, Inc. |
| Austin Moldow | Canaccord Genuity |