APPS Stock Price Up 50% YTD After Post Strong Quarterly Results


Digital Turbine (APPS) has become of the most explosive stocks on the market.

APPS, which provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, has seen its stock run from a low of $12 to nearly $90 a share since July 2020.

From here, APPS could see $100 a share.

All after crushing earnings estimates. APPS just said revenue soared 146% to $88.6 million.  That was well above the $75.9 million analysts were looking for.  Net income came in at $20 million, or 21 cents a share, which was also above expectations for 18 cents.  Better, EBITDA tripled to $22.5 million.

Guidance also came in well ahead of expectations. Revenue is expected to be in the range of $298 million to $300 million, compared with the $280.4 million.  Adjusted EPS for the year could be $0.67, which would also be ahead of estimates for $0.63.

“Our strong third quarter results represented an acceleration of the breakout momentum achieved in the first half of the fiscal year,” said Bill Stone, CEO. 

“We once again set all-time quarterly records for revenue, profitability and free cash flow.  Total revenue grew 146% year-over-year, as we saw strong demand for both our Application Media and Content Media service offerings. The amount of time and money spent by consumers within applications continues to rise, as consumers increasingly grow accustomed to consuming more content and spending greater share of their wallets using the applications on their mobile devices. Businesses everywhere have reacted accordingly by placing increased emphasis on the functionality and monetization potential of their application-based storefronts.  These powerful secular tailwinds have been driving, and we believe will continue to drive, significantly greater demand for our unique platform offerings.”

In addition, last year, Digital Turbine also entered into a definitive purchase agreement to acquire Mobile Posse, Inc., a mobile content discovery and advertising platform company for an estimated total of $66.0 million. 

Ian Cooper’s Personal Position in APPS: None

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