Virtual Turbine Experiences Fiscal 2025 2nd Quarter Monetary Effects

2nd Quarter Income Totaled $118.7 Million

2nd Quarter GAAP Web Lack of $25.0 Million, or GAAP EPS of ($0.24); 2nd Quarter Non-GAAP Adjusted Web Source of revenue¹ of $5.0 Million and Non-GAAP Adjusted EPS¹ of $0.05

2nd Quarter Non-GAAP Adjusted EBITDA² Totaled $15.3 Million

AUSTIN, Texas, Nov. 6, 2024 /PRNewswire/ — Virtual Turbine, Inc. (Nasdaq: APPS) introduced monetary effects for the fiscal 2nd quarter ended September 30, 2024.

Contemporary Monetary Highlights:

• Fiscal 2nd quarter of 2025 income totaled $118.7 million, representing an build up of one% quarter-over-quarter as in comparison to the fiscal first quarter of 2025, and a lessen of 17% year-over-year as in comparison to the fiscal 2nd quarter of 2024.
• GAAP internet loss for the fiscal 2nd quarter of 2025 was once $25.0 million, or ($0.24) according to proportion, as in comparison to GAAP internet loss for the fiscal 2nd quarter of 2024 of $161.5 million, or ($1.61) according to proportion, which incorporated a noncash approval impairment rate of $147.2 million. Non-GAAP adjusted internet source of revenue¹ for the fiscal 2nd quarter of 2025 was once $5.0 million, or $0.05 according to proportion, as in comparison to Non-GAAP adjusted internet source of revenue¹ of $13.9 million, or $0.13 according to proportion, within the fiscal 2nd quarter of 2024.
• Non-GAAP adjusted EBITDA² for the fiscal 2nd quarter of 2025 was once $15.3 million, representing an build up of 6% quarter-over-quarter as in comparison to the fiscal first quarter of 2025, and a lessen of 45% year-over-year as in comparison to Non-GAAP adjusted EBITDA² of $27.7 million within the fiscal 2nd quarter of 2024.
• The Corporate has initiated a metamorphosis program designed to pressure higher potency and improve coins current age year accelerating innovation and while expansion. This system is underway and is concentrated to submit greater than $25 million in annual coins expense financial savings.
• The Corporate introduced the purchase of ONE Gather Global to develop a eminent complete and aggressive supplementary app ecosystem past the normal app bundle style, providing higher worth to app builders, customers and cellular operators.

“The September quarter results marked our second consecutive quarter of sequential growth,” stated Invoice Stone, CEO. “While we anticipate continued sequential growth in the current December quarter and a return to year-over-year growth in the March quarter, our outlook for the remainder of fiscal 2025 has been reduced as a result of more significant anticipated headwinds in some of our legacy businesses. In order to drive greater efficiencies with current operations and enhance cash flow generation while simultaneously accelerating innovation and maintaining our investment is several promising future growth initiatives, we have enacted a strategic transformation project. We expect this transformation project to yield more than $25 million in annual cost savings and position the Company for greater profit and cash flow leverage when top-line growth rates re-accelerate. We remain steadfastly confident in the future of Digital Turbine, but we also recognize that we must execute with greater expediency and efficiency while attacking the enormous market opportunity in front of us. We have a clear plan to achieve this core objective and maximally capitalize on our advantageous foothold position in the newly evolving mobile app marketplace.”  

Fiscal 2025 2nd Quarter Monetary Effects

General income for the second one quarter of fiscal 2025 was once $118.7 million. General On Tool Answers income ahead of intercompany eliminations was once $82.4 million. General App Expansion Platform income ahead of intercompany eliminations was once $37.3 million.

GAAP internet loss for the second one quarter of fiscal 2025 was once $25.0 million, or ($0.24) according to proportion, as in comparison to GAAP internet loss for the second one quarter of fiscal 2024 of $161.5 million, or ($1.61) according to proportion.

Non-GAAP adjusted internet source of revenue¹ for the second one quarter of fiscal 2025 was once $5.0 million, or $0.05 according to proportion, as in comparison to Non-GAAP adjusted internet source of revenue¹ of $13.9 million, or $0.13 according to proportion, in the second one quarter of fiscal 2024.

Non-GAAP adjusted EBITDA² for the second one quarter of fiscal 2025 was once $15.3 million, as in comparison to Non-GAAP adjusted EBITDA² for the second one quarter of fiscal 2024 of 27.7 million.

Industry Outlook

In keeping with knowledge to be had as of November 6, 2024, the Corporate recently expects please see for fiscal 12 months 2025:

• Income of between $475 million and $485 million
• Non-GAAP adjusted EBITDA² of between $65 million and $70 million

It isn’t rather practicable to grant a industry outlook for GAAP internet source of revenue since the Corporate can not rather estimate the adjustments in stock-based reimbursement expense, which is at once impacted through adjustments within the Corporate’s inventory worth, or alternative pieces which can be tough to expect with precision.

About Virtual Turbine, Inc.

Virtual Turbine empowers superb cellular shopper studies and effects for the sector’s eminent telcos, advertisers, and publishers. Its end-to-end platform uniquely simplifies its companions’ skills to supercharge consciousness, acquisition, and monetization – connecting them with extra customers, in additional techniques, throughout extra gadgets. Virtual Turbine is headquartered in North The united states, with places of work around the globe. For spare knowledge seek advice from www.digitalturbine.com.

Convention Name

Control will host a convention name and webcast nowadays at 6:00 p.m. ET to speak about its fiscal 2025 2nd quarter monetary effects and grant operational updates at the industry. The convention name will speak about ahead steerage and alternative subject material knowledge. The decision can also be accessed on-line by means of the webcast hyperlink: https:app.webinar.net/pvYVXg0ZeQo.  The decision can be accessed through dialing 888-317-6003 in the USA (or 412-317-6061 from world places) and coming into get admission to code 4716696.

A playback might be to be had thru November 13, 2024. The replay can also be accessed through dialing 877-344-7529 in the USA or 412-317-0088 from world places, passcode 9360917.  An internet webcast might be archived for a era of 1 12 months and is to be had by means of the Investor Members of the family category of Virtual Turbine’s web page.

Usefulness of Non-GAAP Monetary Measures

To complement the Corporate’s consolidated monetary statements introduced in keeping with GAAP, Virtual Turbine makes use of non-GAAP measures of sure elements of monetary functionality. Those non-GAAP measures come with non-GAAP adjusted internet source of revenue and income according to proportion (“EPS”), non-GAAP adjusted EBITDA, non-GAAP separate coins current and non-GAAP rude benefit. Reconciliations to the then GAAP measures of all non-GAAP measures incorporated on this press drop can also be discovered within the tables underneath.

Non-GAAP measures are equipped to improve buyers’ total working out of the Corporate’s fresh monetary functionality, potentialities for the while and as a method to judge period-to-period comparisons. The Corporate believes that those non-GAAP measures grant significant supplemental knowledge relating to monetary functionality through except sure bills and advantages that is probably not indicative of habitual core industry working effects. The Corporate believes the non-GAAP measures that exclude such pieces when seen along with GAAP effects and the accompanying reconciliations improve the comparison of effects in opposition to prior classes and make allowance for higher transparency of monetary effects. The Corporate believes non-GAAP measures facilitate control’s interior comparability of its monetary functionality to that of prior classes in addition to pattern research for budgeting and making plans functions. The presentation of non-GAAP measures isn’t supposed to be thought to be in isolation or as an alternative to, or superb to, the monetary knowledge ready and introduced in keeping with GAAP.

¹Non-GAAP adjusted internet source of revenue and EPS are outlined as GAAP internet source of revenue and EPS adjusted to exclude the impact of stock-based reimbursement expense, amortization of intangibles, industry transformation prices, transaction-related bills, severance prices, impairment of approval, adjustments in honest worth of contingent concerns, and tax changes. Readers are cautioned that non-GAAP adjusted internet source of revenue and EPS must now not be construed as an supplementary to similar GAAP internet source of revenue figures ambitious in keeping with U.S. GAAP as a trademark of profitability or functionality, which is essentially the most similar measure beneath GAAP.

²Non-GAAP adjusted EBITDA is calculated as GAAP internet source of revenue except please see coins and non-cash bills: stock-based reimbursement expense, depreciation and amortization, internet hobby source of revenue (expense), internet alternative source of revenue (expense), industry transformation prices, foreign currency transaction positive aspects (losses), source of revenue tax (receive advantages) provision, transaction-related bills, impairment of approval, adjustments in honest worth of contingent concerns, and severance prices. Non-GAAP adjusted EBITDA margin is calculated as non-GAAP adjusted EBITDA as a share of general income. Readers are cautioned that non-GAAP adjusted EBITDA must now not be construed as an supplementary to internet source of revenue ambitious in keeping with U.S. GAAP as a trademark of functionality, which is essentially the most similar measure beneath GAAP.

³Non-GAAP separate coins current, which is a non-GAAP monetary measure, is outlined as internet coins equipped through working actions (as mentioned in our Consolidated Statements of Money Flows), except transaction-related bills, severance prices and industry transformation prices, decreased through capital expenditures. Readers are cautioned that separate coins current must now not be construed as an supplementary to internet coins equipped through working actions ambitious in keeping with U.S. GAAP as a trademark of profitability, functionality or liquidity, which is essentially the most similar measure beneath GAAP.

⁴Non-GAAP rude benefit is outlined as GAAP source of revenue from operations adjusted to exclude the impact of product building prices, gross sales and advertising and marketing prices, basic and administrative prices, impairment of approval, and depreciation of instrument. Readers are cautioned that non-GAAP rude benefit must now not be construed as an supplementary to source of revenue from operations ambitious in keeping with U.S. GAAP as a trademark of profitability or functionality, which is essentially the most similar measure beneath GAAP.

Non-GAAP adjusted EBITDA, non-GAAP adjusted internet source of revenue and EPS, non-GAAP separate coins current and non-GAAP rude benefit are old through control as interior measures of profitability and function. They’ve been incorporated since the Corporate believes that the measures are old through sure buyers to evaluate the Corporate’s monetary functionality ahead of non-cash fees and sure prices that the Corporate does now not consider are reflective of its underlying industry.

Ahead-Taking a look Statements

This information drop comprises “forward-looking statements” throughout the which means of Division 27A of the Securities Business of 1933, as amended, and Division 21E of the Securities Change Business of 1934, as amended. Statements on this information drop that aren’t statements of historic reality and that fear while effects from operations, monetary place, financial situations, product releases and any alternative commentary that can be construed as a prediction of while functionality or occasions, together with monetary projections and expansion in diverse merchandise are forward-looking statements that talk most effective as of the while made and which contain identified and unknown dangers, uncertainties and alternative components which would possibly, must a number of of those dangers uncertainties or alternative components materialize, reason unedited effects to fluctuate materially from the ones expressed or implied through such statements. Those components and dangers come with:

Dangers Particular to our Industry

• We now have a historical past of internet losses
• We now have a restricted working historical past for our fresh portfolio of belongings.
• Expansion would possibly playground important calls for on our control and our infrastructure.
• Our operations are world in scope, and we are facing added industry, political, regulatory, prison, operational, monetary and financial dangers because of our world operations.
• Our monetary effects may range considerably from quarter-to-quarter and are tough to expect.
• A good portion of our income is derived from a restricted collection of wi-fi carriers and shoppers.
• The chance of impairment of our approval.
• The results of the fresh and any while basic downturns within the U.S. and the worldwide economic system, together with monetary marketplace disruptions.
• Our merchandise, services and products and programs depend on instrument this is extremely technical, and if it incorporates mistakes or viruses, our industry might be adversely affected.
• Our industry would possibly contain the virtue, transmission and storehouse of undercover knowledge and in my view identifiable knowledge, and the failure to correctly assure such knowledge may lead to important reputational hurt and fiscal damages.
• Our industry and recognition might be impacted through knowledge generation device screw ups and community disruptions
• Device safety dangers and cyber-attacks may disrupt our interior operations or knowledge generation services and products equipped to shoppers.
• Our industry and expansion would possibly undergo if we’re not able to rent and stock key skill.
• If we’re not able to conserve our company tradition, our industry might be harmed.
• If we create while acquisitions, this might require important control consideration and disrupt our industry.
• Antagonistic results of unfavorable trends affecting the monetary services and products business, together with occasions or issues involving liquidity, defaults, or non-performance through monetary establishments.
• Access into unutilized strains of industrial, and our providing of unutilized services, due to our investments would possibly lead to publicity to unutilized dangers.
• Litigation would possibly hurt out industry.

Dangers Homogeneous to the Cellular Promoting Trade

• The cellular promoting industry is an intensely aggressive business, and we would possibly not be capable to compete effectively.
• The markets for our services are swiftly evolving and would possibly lessen or revel in restricted expansion.
• Our industry depends at the persevered expansion in utilization of smartphones and alternative cellular hooked up gadgets.
• Wi-fi applied sciences are converting swiftly, and we is probably not a hit in running with those unutilized applied sciences.
• The complexity of and incompatibilities amongst cellular gadgets would possibly require us to virtue spare assets for the advance of our services.
• If wi-fi subscribers don’t proceed to virtue their cellular gadgets to get admission to cellular content material and alternative packages, our industry expansion and while income is also adversely affected.
• A shift of generation platform through wi-fi carriers and cellular tool producers may extend the advance era for our choices, build up our prices, and reason our choices to be revealed nearest than expected.
• Fresh or perceived safety vulnerabilities in gadgets or wi-fi networks may adversely have an effect on our income.
• We is also topic to prison legal responsibility related to offering cellular and on-line services and products.
• Dangers of population fitness problems, akin to a big epidemic or pandemic.
• Chance linked to geopolitical situations and the worldwide economic system, together with conflicts, monetary markets, and inflation.
• Chance linked to the geopolitical dating between the U.S. and China or adjustments in China’s financial and regulatory terrain.

Trade Regulatory Dangers

• We’re topic to swiftly converting and increasingly more stringent regulations, rules and contractual necessities linked to privateness, information safety, and coverage of youngsters.
• We’re topic to anti-corruption, import/export, govt sanction, and related regulations, particularly linked to our world operations.
• Govt law of our advertising and marketing modes may prohibit or prohibit our skill to adequately market it and advertise our content material, services to be had in sure jurisdictions.
• Regulatory necessities concerning the promoting, promoting, and promotion of our services.
• Governmental law of our advertising and marketing modes.

Dangers Homogeneous to Our Highbrow Feature and Doable Legal responsibility

• 3rd events would possibly download and improperly virtue our highbrow feature; and if that is so, our aggressive place is also adversely affected, in particular if we don’t, or are not able to, adequately give protection to our highbrow feature rights
• 3rd events would possibly sue us for highbrow feature infringement, which would possibly prohibit or restrict our virtue of the highbrow feature and disrupt our industry and may require us to pay important injury awards.
• Our platform incorporates noticeable supply instrument.
• Indemnity provisions in diverse guarantees probably divulge us to considerable legal responsibility for highbrow feature infringement, damages brought about through evil instrument, and alternative losses.

Dangers In terms of Our Ordinary Secure and Capital Construction

• We now have connect and unsecured indebtedness, which might restrict our monetary flexibility.
• To provider our debt and treasure our alternative responsibilities and capital necessities, we can require a vital sum of money, and our skill to generate coins depends upon many components past our keep an eye on.
• The marketplace worth of our regular inventory could be extremely unstable and topic to large fluctuations, and you’ll be not able to resell your stocks at or above the fresh worth or the cost at which you bought your stocks.
• Chance of now not with the ability to lift capital to develop our industry.
• Chance to buying and selling quantity of dearth of securities or business analysts analysis protection.
• A subject material defect in our interior keep an eye on over monetary reporting and disclosure controls and procedures may, if now not remediated, lead to subject material misstatements in our monetary statements.
• Keeping up and improvising monetary controls and being a population corporate would possibly pressure assets.
• Anti-takeover provisions in our constitution paperwork may create an acquisition of our corporate tougher.
• Our bylaws designate Delaware because the unique discussion board for sure disputes.
• Alternative dangers described within the chance components in Merchandise 1A of our unedited Annual File on Mode 10-Okay beneath the heading “Risk Factors” and next Quarterly Experiences on Mode 10-Q filed with the Securities and Change Fee.

You must now not playground undue reliance on those forward-looking statements. The Corporate does now not adopt to replace forward-looking statements, whether or not because of unutilized knowledge, while occasions or in a different way, apart from as required through regulation.

Investor Members of the family Touch:
Brian Bartholomew
Virtual Turbine, Inc.
[email protected]

SOURCE Virtual Turbine, Inc.

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