10-Q Filing

DIGITAL TURBINE, INC. CIK: 317788 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001628280-15-006417`
Period End Date	20150630
Filing Date	20150810
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	apps-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 46 Cash Flow Statement 58 Stockholders Equity 12

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$698.00K	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$567.00K	USD	Point-in-time
Long term debt, discounts	`DebtInstrumentUnamortizedDiscountNoncurrent`	$910.00K	USD	Point-in-time
Long term debt, discounts	`DebtInstrumentUnamortizedDiscountNoncurrent`	$793.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.69M	USD	Point-in-time
Series A Convertible Preferred Stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.80M	USD	Point-in-time
Series A Convertible Preferred Stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$200.00K	USD	Point-in-time
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$200.00K	USD	Point-in-time
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of allowances of $567 and $698, respectively	`AccountsReceivableNetCurrent`	$12.17M	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	100,000.00	shares	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	100,000.00	shares	Point-in-time
Accounts receivable, net of allowances of $567 and $698, respectively	`AccountsReceivableNetCurrent`	$12.66M	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	100,000.00	shares	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	100,000.00	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$109.00K	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$114.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$640.00K	USD	Point-in-time
Series A convertible preferred stock, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$1.00M	USD	Point-in-time
Series A convertible preferred stock, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$1.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$570.00K	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.19M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$878.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$614.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$82.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.90M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$82.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.92M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$22.77M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	57.17M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$24.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	57.16M	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	754,599.00	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	754,599.00	shares	Point-in-time
Goodwill	`Goodwill`	$76.80M	USD	Point-in-time
Goodwill	`Goodwill`	$76.75M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$122.57M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$120.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.69M	USD	Point-in-time
Accrued license fees and revenue share	`AccruedLiabilitiesCurrent`	$6.83M	USD	Point-in-time
Accrued license fees and revenue share	`AccruedLiabilitiesCurrent`	$7.80M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$2.26M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$2.18M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$3.45M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$3.60M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesCurrent`	$719.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesCurrent`	$217.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.06M	USD	Point-in-time
Long term debt, net of discounts of $793 and $910, respectively	`LongTermDebtNoncurrent`	$7.21M	USD	Point-in-time
Long term debt, net of discounts of $793 and $910, respectively	`LongTermDebtNoncurrent`	$7.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$31.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.26M	USD	Point-in-time
Series A convertible preferred stock at $0.0001 par value; 2,000,000 shares authorized, 100,000 issued and outstanding (liquidation preference of $1,000)	`PreferredStockValue`	$100.00K	USD	Point-in-time
Series A convertible preferred stock at $0.0001 par value; 2,000,000 shares authorized, 100,000 issued and outstanding (liquidation preference of $1,000)	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.0001 par value: 200,000,000 shares authorized; 57,899,899 issued and 57,165,443 outstanding at June 30, 2015; 57,917,565 issued and 57,162,967 outstanding at March 31, 2015;	`CommonStockValue`	$7.00K	USD	Point-in-time
Common stock, $0.0001 par value: 200,000,000 shares authorized; 57,899,899 issued and 57,165,443 outstanding at June 30, 2015; 57,917,565 issued and 57,162,967 outstanding at March 31, 2015;	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$278.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$276.50M	USD	Point-in-time
Treasury stock (754,599 shares at June 30, 2015 and March 31, 2015)	`TreasuryStockValue`	$71.00K	USD	Point-in-time
Treasury stock (754,599 shares at June 30, 2015 and March 31, 2015)	`TreasuryStockValue`	$71.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-52.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-101.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-193.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-184.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$84.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$91.53M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$122.57M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$120.26M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	$5.55M	USD	1 Quarter
Net revenues	`Revenues`	$18.69M	USD	1 Quarter
License fees and revenue share	`LicenseCosts`	$3.80M	USD	1 Quarter
License fees and revenue share	`LicenseCosts`	$14.22M	USD	1 Quarter
Other direct cost of revenues	`CostOfGoodsAndServicesSoldAmortization`	$2.19M	USD	1 Quarter
Other direct cost of revenues	`CostOfGoodsAndServicesSoldAmortization`	$344.00K	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$16.41M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$4.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.27M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.41M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$2.75M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$1.96M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.28M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$761.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.37M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.39M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.43M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.09M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.68M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.15M	USD	1 Quarter
Interest income / (expense)	`InterestIncomeExpenseNet`	$-491.00K	USD	1 Quarter
Interest income / (expense)	`InterestIncomeExpenseNet`	$3.00K	USD	1 Quarter
Foreign exchange transaction gain / (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.00K	USD	1 Quarter
Foreign exchange transaction gain / (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-6.00K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-10.00K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain / (loss) on disposal of fixed assets	`GainsLossesOnSalesOfAssets`	$-23.00K	USD	1 Quarter
Gain / (loss) on disposal of fixed assets	`GainsLossesOnSalesOfAssets`	$2.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$17.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
Total interest and other income / (expense), net	`NonoperatingIncomeExpense`	$-2.00K	USD	1 Quarter
Total interest and other income / (expense), net	`NonoperatingIncomeExpense`	$-496.00K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.68M	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.65M	USD	1 Quarter
Income tax provision / (benefit)	`IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems`	$-72.00K	USD	1 Quarter
Income tax provision / (benefit)	`IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems`	$472.00K	USD	1 Quarter
Net loss, net of taxes	`NetIncomeLoss`	$-4.61M	USD	1 Quarter
Net loss, net of taxes	`NetIncomeLoss`	$-8.12M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$38.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-49.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.57M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.17M	USD	1 Quarter
Basic and diluted net loss per common share (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-0.14	USD	1 Quarter
Basic and diluted net loss per common share (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted (shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	57.39M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted (shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.42M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.24M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$369.00K	USD	1 Quarter
Change in allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Change in allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-131.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$117.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Accrued Interest	`InterestAccretionExpense`	-	USD	1 Quarter
Accrued Interest	`InterestAccretionExpense`	$87.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.29M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$818.00K	USD	1 Quarter
Stock-based compensation for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$76.00K	USD	1 Quarter
Stock-based compensation for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$327.00K	USD	1 Quarter
Adjustment to goodwill for purchase price adjustment	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	-	USD	1 Quarter
Adjustment to goodwill for purchase price adjustment	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$54.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$354.00K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$5.00K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$20.00K	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	1 Quarter
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$-3.16M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-70.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$39.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.58M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$561.00K	USD	1 Quarter
Accrued license fees and revenue share	`IncreaseDecreaseInOtherAccruedLiabilities`	$963.00K	USD	1 Quarter
Accrued license fees and revenue share	`IncreaseDecreaseInOtherAccruedLiabilities`	$-757.00K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$201.00K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$76.00K	USD	1 Quarter
Other liabilities and other items	`IncreaseDecreaseInOtherOperatingLiabilities`	$554.00K	USD	1 Quarter
Other liabilities and other items	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.89M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-359.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.13M	USD	1 Quarter
Purchase and disposal of property and equipment, net	`PaymentsForProceedsFromProductiveAssets`	$32.00K	USD	1 Quarter
Purchase and disposal of property and equipment, net	`PaymentsForProceedsFromProductiveAssets`	$318.00K	USD	1 Quarter
Settlement of contingent liability	`PaymentOfContingentLiability`	-	USD	1 Quarter
Settlement of contingent liability	`PaymentOfContingentLiability`	$-10.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-318.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.00K	USD	1 Quarter
Repayment of debt obligations	`ProceedsFromRepaymentsOfDebt`	$-150.00K	USD	1 Quarter
Repayment of debt obligations	`ProceedsFromRepaymentsOfDebt`	-	USD	1 Quarter
Options exercised	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Options exercised	`ProceedsFromStockOptionsExercised`	$10.00K	USD	1 Quarter
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-140.00K	USD	1 Quarter
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$39.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-72.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-889.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.12M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.69M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.69M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.80M	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance at March 31, 2015	`StockholdersEquity`	$84.99M	USD	Point-in-time
Balance at March 31, 2015	`StockholdersEquity`	$91.53M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-4.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.12M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$38.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-49.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.29M	USD	1 Quarter
Stock-based compensation related to vesting of restricted stock for services	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$327.00K	USD	1 Quarter
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$10.00K	USD	1 Quarter
Warrant exercised (in shares)	`StockIssuedDuringPeriodSharesCommonStockWarrantsExercised`	452,974.00	shares	Point-in-time
Balance at June 30, 2015	`StockholdersEquity`	$84.99M	USD	Point-in-time
Balance at June 30, 2015	`StockholdersEquity`	$91.53M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.