Digital Turbine (APPS, Financial) shares jumped 27.17% in premarket trading at 5:51 a.m. ET on Thursday after the company reported better-than-expected fiscal third-quarter results and raised its full-year outlook.
The mobile software company posted adjusted net income of $13.7 million, or $0.13 per share, on revenue of $134.6 million, down 6% year-over-year but up 13% sequentially. Adjusted EBITDA came in at $22 million, marking a 44% quarter-over-quarter increase despite a 13% annual decline.
CEO Bill Stone credited "improved execution and profit-optimization measures" for the company's strong quarterly performance and cash flow. Looking ahead, Digital Turbine raised its fiscal 2025 outlook, now expecting revenue between $485 million and $490 million (above the $477.05 million consensus) and adjusted EBITDA of $69 million to $71 million. The company anticipates year-over-year revenue growth in the March quarter, with even stronger EBITDA gains.
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