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Despite a 63% rise in revenue, Digital Tribune Inc. (APPS) stock fell during after-hours trading.

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Digital Tribune Inc. (NASDAQ: (APPS) stock plunged by 1.64% at last close while the APPS stock declines by 7.01% in the after-hours trading session. Digital Turbine is the most widely used independent mobile development platform that allows marketers, publishers, carriers, and OEMs to compete on an equal footing.

APPS stock’ Financial Highlights

Digital Turbine has released its financial outcomes for the second quarter of the fiscal year 2022, which ended on September 30, 2021. Pro forma results, where available, the Company thinks, can offer investors with more appropriate year-over-year comparisons.

  • Revenue for the fiscal second quarter of 2022 was $310.2 million, a 338 percent year-over-year rise on an as-reported basis and a 63 percent year-over-year increase when opposed to the similar pro forma figure for the fiscal second quarter of 2021.
  • GAAP net loss for the fiscal second quarter of 2022 was $5.9 million, or ($0.06) per share, compared to $0.4 million, or $0.00 per share, in the fiscal second quarter of 2021, which included a $22.1 million fair value adjustment to contingent acquisition-related earn-outs.
  • In the fiscal second quarter of 2022, the company has calculated its non-GAAP adjusted net income as $45.3 million, or $0.44 per share whereas for the previous year’s same quarter the non-GAAP adjusted net income was $14.5 million, or $0.15 per share.
  • Non-GAAP adjusted EBITDA was $47.9 million in the fiscal second quarter of 2022, up 191 percent from $16.5 million from the previous year’s same quarter

Future Expectations

The company anticipates the following results for its third quarter of 2021. The outlook is based on the information available as of November 2, 2021.

  • APPS expects its revenue to be around $350 million to $355 million.
  • The Non-GAAP adjusted EBTIDA is expected to be around $53 million to $56 million.
  • Depending on roughly 105 million diluted shares outstanding and an effective tax rate of between 15% and 20% on non-GAAP net income, non-GAAP adjusted EPS of $0.41 to $0.44.

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