10-Q Filing

DIGITAL TURBINE, INC. CIK: 317788 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001628280-16-018821`
Period End Date	20160630
Filing Date	20160809
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	apps-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 44 Cash Flow Statement 58

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$464.00K	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$355.00K	USD	Point-in-time
Debt discount	`DebtInstrumentUnamortizedDiscount`	$568.00K	USD	Point-in-time
Debt discount	`DebtInstrumentUnamortizedDiscount`	$524.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.23M	USD	Point-in-time
Series A Convertible Preferred Stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	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`	$9.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.07M	USD	Point-in-time
Accounts receivable, net of allowances of $355 and $464, respectively	`AccountsReceivableNetCurrent`	$15.65M	USD	Point-in-time
Accounts receivable, net of allowances of $355 and $464, respectively	`AccountsReceivableNetCurrent`	$17.52M	USD	Point-in-time
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$213.00K	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	100,000.00	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$147.00K	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	100,000.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$494.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$583.00K	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
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
Total current assets	`AssetsCurrent`	$29.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.70M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.04M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.78M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cost method investment	`CostMethodInvestments`	$999.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cost method investment	`CostMethodInvestments`	$999.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	67.02M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$500.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$500.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	67.02M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$10.61M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	66.29M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$12.49M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	66.28M	shares	Point-in-time
Goodwill	`Goodwill`	$76.62M	USD	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`	$76.62M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$121.94M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$116.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.13M	USD	Point-in-time
Accrued license fees and revenue share	`AccruedLiabilitiesCurrent`	$10.04M	USD	Point-in-time
Accrued license fees and revenue share	`AccruedLiabilitiesCurrent`	$9.62M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.35M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.28M	USD	Point-in-time
Short-term debt, net of debt issuance costs and discounts of $524 and $568, respectively	`LongTermDebtCurrent`	$10.43M	USD	Point-in-time
Short-term debt, net of debt issuance costs and discounts of $524 and $568, respectively	`LongTermDebtCurrent`	$10.48M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.15M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$38.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.45M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$815.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$835.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$40.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$39.67M	USD	Point-in-time
Preferred stock	`PreferredStockValue`	$100.00K	USD	Point-in-time
Preferred stock	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$295.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$296.73M	USD	Point-in-time
Treasury stock (754,599 shares at June 30, 2016 and March 31, 2016)	`TreasuryStockValue`	$71.00K	USD	Point-in-time
Treasury stock (754,599 shares at June 30, 2016 and March 31, 2016)	`TreasuryStockValue`	$71.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-202.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-175.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-220.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-212.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$76.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$82.27M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$116.47M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$121.94M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	$24.04M	USD	1 Quarter
Net revenues	`Revenues`	$18.69M	USD	1 Quarter
License fees and revenue share	`LicenseCosts`	$14.22M	USD	1 Quarter
License fees and revenue share	`LicenseCosts`	$19.22M	USD	1 Quarter
Other direct cost of revenues	`CostOfGoodsAndServicesSoldAmortization`	$2.19M	USD	1 Quarter
Other direct cost of revenues	`CostOfGoodsAndServicesSoldAmortization`	$1.88M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$21.10M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$16.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.27M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$2.83M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$2.75M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.44M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.28M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.39M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.11M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.43M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.38M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.15M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.45M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-491.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-682.00K	USD	1 Quarter
Foreign exchange transaction gain / (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-3.00K	USD	1 Quarter
Foreign exchange transaction gain / (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainsLossesOnSalesOfAssets`	-	USD	1 Quarter
Loss on disposal of fixed assets	`GainsLossesOnSalesOfAssets`	$-23.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$18.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$17.00K	USD	1 Quarter
Total interest and other expense, net	`NonoperatingIncomeExpense`	$-496.00K	USD	1 Quarter
Total interest and other expense, net	`NonoperatingIncomeExpense`	$-667.00K	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.12M	USD	1 Quarter
Loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.65M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems`	$296.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems`	$472.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.12M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$27.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-49.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-7.38M	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`	$-0.11	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted (shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	66.29M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted (shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	57.39M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`IncomeLossFromContinuingOperations`	$-8.12M	USD	1 Quarter
Net loss	`IncomeLossFromContinuingOperations`	$-7.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.24M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.09M	USD	1 Quarter
Change in allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-131.00K	USD	1 Quarter
Change in allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-109.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$117.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$118.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$224.00K	USD	1 Quarter
Accrued interest	`InterestAccretionExpense`	$87.00K	USD	1 Quarter
Accrued interest	`InterestAccretionExpense`	$1.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-23.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.29M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.22M	USD	1 Quarter
Stock-based compensation related to restricted stock for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$80.00K	USD	1 Quarter
Stock-based compensation related to restricted stock for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$327.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$354.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.98M	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$-66.00K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$5.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-70.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-89.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-169.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.52M	USD	1 Quarter
Accrued license fees and revenue share	`IncreaseDecreaseInOtherAccruedLiabilities`	$963.00K	USD	1 Quarter
Accrued license fees and revenue share	`IncreaseDecreaseInOtherAccruedLiabilities`	$419.00K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-72.00K	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`	$372.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-336.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.10M	USD	1 Quarter
Capital expenditures	`PaymentsForProceedsFromProductiveAssets`	$472.00K	USD	1 Quarter
Capital expenditures	`PaymentsForProceedsFromProductiveAssets`	$341.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-472.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-341.00K	USD	1 Quarter
Repayment of debt obligations	`ProceedsFromRepaymentsOfDebt`	-	USD	1 Quarter
Repayment of debt obligations	`ProceedsFromRepaymentsOfDebt`	$-150.00K	USD	1 Quarter
Cash paid for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$280.00K	USD	1 Quarter
Cash paid for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Options exercised	`ProceedsFromStockOptionsExercised`	$10.00K	USD	1 Quarter
Options exercised	`ProceedsFromStockOptionsExercised`	$2.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-278.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-140.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-72.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$27.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-889.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.82M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.23M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.41M	USD	Point-in-time
Cash and cash equivalents, beginning 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`	$11.23M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.41M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.07M	USD	Point-in-time

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