Net income (Q2, 2018)(6.5 M)

EBIT (Q2, 2018)(1.2 M)

Cash, 30-Sep-20175.9 M

USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|

## Revenue | 24.4 m | 28.3 m | 86.5 m | 91.6 m |

| 16% | 206% | 6% | |

## Cost of goods sold | 16.6 m | 22.1 m | 76.7 m | 78.2 m |

## Gross profit | 7.8 m | 6.1 m | 9.8 m | 13.4 m |

| 32% | 22% | 11% | 15% |

## Sales and marketing expense | 1.9 m | 2.9 m | 6.1 m | 6.5 m |

## R&D expense | 12 m | |||

## General and administrative expense | 13.6 m | 19 m | 18.7 m | 16.8 m |

## Operating expense total | 15.5 m | 22 m | 24.8 m | 35.4 m |

## EBIT | (15.5 m) | (23.7 m) | (25.9 m) | (22 m) |

| (64%) | (84%) | (30%) | (24%) |

## Interest expense | 1.4 m | 234 k | 1.8 m | 2.6 m |

## Pre tax profit | 17.5 m | 23.9 m | 27.8 m | |

## Income tax expense | (214 k) | 747 k | (272 k) | (144 k) |

## Net Income | (18.7 m) | (24.6 m) | (28 m) | (24.3 m) |

- Source: SEC Filings

USD | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 7 m | 7 m | 5.6 m | 5.5 m | 7 m | 18.7 m | 20.7 m | 24.1 m | 24 m | 22.8 m | 22.3 m | 26.1 m | |

## Cost of goods sold | 4.5 m | 5 m | 4.1 m | 3.7 m | 5 m | 16.4 m | 20.7 m | 20.3 m | 21.1 m | 19.7 m | 18.9 m | 19.5 m | |

## Gross profit | 2.5 m | 2.1 m | 1.4 m | 1.8 m | 2 m | 2.3 m | 77 k | 3.8 m | 2.9 m | 3.2 m | 3.4 m | 6.6 m | |

| 36% | 29% | 25% | 33% | 28% | 12% | 0% | 16% | 12% | 14% | 15% | 25% | |

## Sales and marketing expense | 581 k | 555 k | 761 k | 743 k | 485 k | 1.3 m | 1.5 m | 1.7 m | 1.4 m | 1.5 m | 1.7 m | 1.6 m | |

## R&D expense | 2.5 m | 2.1 m | 2 m | 2.2 m | 1.7 m | 2.8 m | 2.4 m | 2.7 m | 2.8 m | 3.1 m | 3.1 m | 2.8 m | |

## General and administrative expense | 3.3 m | 3.6 m | 3.4 m | 3.5 m | 5.2 m | 5.4 m | 4.3 m | 4.7 m | 5.1 m | 4.8 m | 4 m | 3.8 m | |

## Operating expense total | 6.4 m | 6.2 m | 6.1 m | 6.4 m | 7.4 m | 9.4 m | 8.2 m | 9.1 m | 9.4 m | 9.5 m | 8.8 m | 8.1 m | 8.6 m |

## EBIT | (3.9 m) | (4.2 m) | (4.7 m) | (4.6 m) | (5.4 m) | (7.2 m) | (8.1 m) | (5.3 m) | (6.4 m) | (6.3 m) | (5.4 m) | (1.5 m) | (1.3 m) |

| (56%) | (60%) | (84%) | (85%) | (77%) | (38%) | (39%) | (22%) | (27%) | (28%) | (24%) | (6%) | |

## Interest expense | 4 k | 682 k | 622 k | 725 k | 707 k | ||||||||

## Income tax expense | (90 k) | (19 k) | (72 k) | 114 k | 3 k | 296 k | 31 k | ||||||

## Net Income | (6.2 m) | (4.2 m) | (4.6 m) | (9.8 m) | (150 ) | (8.1 m) | (16.4 m) | (22.2 m) | (7.4 m) | (7.3 m) | (2.6 m) | (6.5 m) |

- Source: SEC Filings

USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|

## Cash | 21.8 m | 7.1 m | 11.2 m | 6.1 m |

## Accounts Receivable | 6.6 m | |||

## Current Assets | 27.5 m | 20.2 m | 29.7 m | 23.7 m |

## PP&E | 465 k | 614 k | 1.8 m | 2.4 m |

## Goodwill | 4.8 m | 76.7 m | 76.6 m | 76.6 m |

## Total Assets | 45.1 m | 122.6 m | 122.1 m | 107.6 m |

## Accounts Payable | 2.9 m | 8.1 m | 15.3 m | 19.9 m |

## Short-term debt | 10.6 m | 3.6 m | ||

## Current Liabilities | 11.9 m | 24 m | 39 m | 30.8 m |

## Long-term debt | ||||

## Total Debt | 10.6 m | 3.6 m | ||

## Total Liabilities | 12.1 m | 31 m | 39.8 m | 45.5 m |

## Common Stock | 8 k | |||

## Preferred Stock | 100 k | |||

## Additional Paid-in Capital | 193.4 m | 276.5 m | 295.4 m | 299.6 m |

## Retained Earnings | (160.3 m) | (185 m) | (213 m) | (237.3 m) |

## Total Equity | 33 m | 91.5 m | 82.3 m | 62 m |

## Debt to Equity Ratio | 0.1 x | 0 x | ||

## Debt to Assets Ratio | 0.1 x | 0 x | ||

## Financial Leverage | 1.4 x | 1.3 x | 1.5 x | 1.7 x |

USD | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 7.8 m | 4.7 m | 18.7 m | 16.7 m | 11.4 m | 6.2 m | 4.6 m | 13.7 m | 9.4 m | 9.4 m | 5.7 m | 6.3 m | 5.9 m |

## Accounts Receivable | (7.5 m) | ||||||||||||

## Inventories | 444 k | ||||||||||||

## Current Assets | 14.3 m | 11.4 m | 24.4 m | 21.7 m | 17.6 m | 19.7 m | 19.8 m | 31.4 m | 25.7 m | 27.9 m | 26 m | 27.5 m | 30.5 m |

## PP&E | 427 k | 459 k | 470 k | 422 k | 414 k | 878 k | 1.2 m | 1.5 m | 2 m | 2.5 m | 2.5 m | 2.5 m | |

## Goodwill | 4.8 m | 4.8 m | 6.3 m | 6.3 m | 7.3 m | 76.8 m | 76.6 m | 76.6 m | 76.6 m | 76.6 m | 76.6 m | 76.6 m | 76.6 m |

## Total Assets | 30.5 m | 27.2 m | 38.5 m | 35.9 m | 33.3 m | 120.3 m | 115.8 m | 125.1 m | 116.5 m | 117.1 m | 112.2 m | 110.9 m | 113.8 m |

## Accounts Payable | 5.6 m | 4.9 m | 3.5 m | 3.8 m | 3.8 m | 10.7 m | 13.2 m | 13.7 m | 15.1 m | 20.1 m | 19.8 m | 20.3 m | 23.3 m |

## Short-term debt | 3.3 m | 3.2 m | |||||||||||

## Current Liabilities | 11 m | 10.7 m | 9.1 m | 10 m | 11.7 m | 28.1 m | 29.8 m | 30.9 m | 39.4 m | 31.4 m | 31.5 m | 35.2 m | 39 m |

## Total Debt | 3.3 m | 3.2 m | |||||||||||

## Total Liabilities | 11.3 m | 11 m | 9.1 m | 10 m | 11.7 m | 35.3 m | 37.2 m | 38.3 m | 40.3 m | 47.1 m | 43.7 m | 52.1 m | 53.6 m |

## Common Stock | 8 k | 8 k | 8 k | 8 k | 10 k | ||||||||

## Preferred Stock | 100 k | 100 k | 100 k | 100 k | 100 k | ||||||||

## Additional Paid-in Capital | 172.5 m | 173.8 m | 194.5 m | 196 m | 197.3 m | 278.1 m | 280 m | 294 m | 296.7 m | 297.9 m | 299 m | 300.5 m | 308.4 m |

## Retained Earnings | (153.5 m) | (157.7 m) | (164.9 m) | (170.1 m) | (175.6 m) | (193.1 m) | (201.4 m) | (207.2 m) | (220.4 m) | (227.7 m) | (230.3 m) | (241.4 m) | (247.9 m) |

## Total Equity | 19.2 m | 16.3 m | 29.5 m | 25.8 m | 21.7 m | 85 m | 78.6 m | 86.8 m | 76.2 m | 70 m | 68.5 m | 58.7 m | 60.2 m |

## Financial Leverage | 1.6 x | 1.7 x | 1.3 x | 1.4 x | 1.5 x | 1.4 x | 1.5 x | 1.4 x | 1.5 x | 1.7 x | 1.6 x | 1.9 x | 1.9 x |

USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|

## Net Income | (18.7 m) | (24.6 m) | (28 m) | (24.3 m) |

## Depreciation and Amortization | 1.9 m | 2.1 m | 11 m | 8.2 m |

## Accounts Receivable | (734 k) | (406 k) | (5.1 m) | 833 k |

## Inventories | (2.6 m) | (142 k) | 57 k | |

## Accounts Payable | (893 k) | (379 k) | 7.3 m | 4.6 m |

## Cash From Operating Activities | (7.8 m) | (14.5 m) | (7.1 m) | (7 m) |

## Cash From Investing Activities | (981 k) | (878 k) | (674 k) | (596 k) |

## Cash From Financing Activities | 29.6 m | 511 k | 12.1 m | |

## Interest Paid | 1.4 m | |||

## Income Taxes Paid | 74 k | 2 k | ||

## Free Cash Flow | (8.6 m) |

USD | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | (4.6 m) | (9.8 m) | (15.3 m) | (8.1 m) | (16.4 m) | (22.2 m) | (7.4 m) | (14.8 m) | (17.3 m) | (4.2 m) | (6.5 m) | ||

## Depreciation and Amortization | 1 m | 1.6 m | 369 k | 737 k | 1.2 m | 2.2 m | 6.9 m | 8.6 m | 2.1 m | 4.2 m | 6.3 m | 888 k | |

## Accounts Receivable | (1 m) | (1.5 m) | (4 k) | 764 k | (443 k) | (354 k) | (2.3 m) | (4.6 m) | 2 m | 35 k | (1.9 m) | (3.7 m) | (7.5 m) |

## Inventories | 444 k | ||||||||||||

## Accounts Payable | 418 k | (443 k) | 561 k | 875 k | 438 k | 2.6 m | 5.1 m | 5.6 m | (169 k) | 4.8 m | 4.5 m | 395 k | 23.3 m |

## Cash From Operating Activities | (3.9 m) | (6.9 m) | (3.1 m) | (5.5 m) | (8.7 m) | (359 k) | (1.7 m) | (5.5 m) | (1.1 m) | (3.6 m) | (7.8 m) | (1.4 m) | (1.4 m) |

## Purchases of PP&E | (32 k) | (61 k) | (32 k) | (6 k) | |||||||||

## Cash From Investing Activities | 805 k | (835 k) | (22 k) | 5 k | (2.1 m) | (318 k) | (587 k) | (101 k) | (472 k) | (1.1 m) | (382 k) | (374 k) | (823 k) |

## Cash From Financing Activities | 11.3 m | 11.3 m | 375 k | 375 k | (140 k) | (251 k) | 12.2 m | (278 k) | 1.9 m | 1.9 m | |||

## Income Taxes Paid | 19 k | 2 k | |||||||||||

## Free Cash Flow | (1.6 m) | (4.7 m) | (9.2 m) | (1.8 m) | (2.2 m) |

USD | Y, 2017 |
---|---|

## Financial Leverage | 1.9 x |

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Digital Turbine's Monthly Active Users was reported to be 31 m in May, 2017.

May, 2017 | |
---|---|

## Installations | 150 m |

## Monthly Active Users | 31 m |

- Source: Digital Turbine

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