Digital Turbine Reports Fiscal 2021 Third Quarter Results
Accelerating Platform Momentum Drove Third Quarter Revenue of $88.6 Million, Representing 146% Annual Growth
Revenue Diversification Strategy and Scalable Operating Model Are Continuing to Spur Significant Growth in Overall Profitability and Cash Flow
New Credit Facility to Provide Additional Support for Comprehensive Growth Strategy
News provided by
Share this article
AUSTIN, Texas, Feb. 3, 2021 /PRNewswire/
Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal third quarter ended December 31, 2020. All operating results and historical comparisons discussed below, except as otherwise specifically noted, refer only to the continuing operations of the Company.
Recent Financial Highlights:
.
Venture activity is a critical component to a thriving tech ecosystem, providing capital and strategic investment opportunities for startups and high growth ventures to continue to grow and expand.
Although 2020 was anything but ordinary for the business community, it saw some solid venture activity among Arlington-based businesses. According to data collected from Pitchbook.com and independent media sources, Arlington-headquartered companies were involved in over 40 deals totaling more than $14.8 billion from venture capital raises, mergers and acquisitions, strategic corporate investments, and other activity. The top industries represented in the deals included information technology, government contracting, health care, business and consumer products, and financial services. Additionally, Q1 2020 was a record quarter for Arlington-based companies, which logged 16 deals totaling at least $674.8 million in activity.
Is Digital Turbine (APPS) a Smart Long-term Buy?
Choice Equities Capital Management recently released its Q3 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 35% (net) for the quarter, outperforming its benchmark, the S&P 500 Index which returned 8.9% in the same quarter. You should check out Choice Equities Capital Management’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q3 2020 Investor Letter, Choice Equities Capital Management highlighted a few stocks and Digital Turbine Inc. (NASDAQ:APPS) is one of them. Digital Turbine Inc. (NASDAQ:APPS) is a software company. Year-to-date, Digital Turbine Inc. (NASDAQ:APPS) stock gained 558.2% and on December 14th it had a closing price of $46.93. Here is what Choice Equities Capital Management said: