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DT Media

dtmedia.co.uk

Founded Year

1999

Stage

Other Investors | Alive

About DT Media

DT Media Ltd Maximising the preparedness and safety of armed forces in-the-field DT Media are specialists in training tools to maximise the preparedness & safety of armed forces in-the-field.

Headquarters Location

Dart Marine Park Steamer Quay Road

TQ9 5AL,

United Kingdom

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Latest DT Media News

Digital Turbine Reports Fiscal Second Quarter 2016 Financial Results

Nov 9, 2015

AUSTIN, Texas, Nov. 9, 2015 /satPRnews.com/ -- Digital Turbine, Inc. (Nasdaq: APPS ), the Company empowering operators and Original Equipment Manufacturers (OEMs) around the globe with end-to-end mobile solutions, announced financial results for the fiscal 2016 second quarter ended September 30, 2015. Recent Highlights: Second Quarter 2016 Financial Results As a result of the increase in the Company's Advertising business and the March 6, 2015 acquisition of Appia, Inc., management believes that sequential comparisons are better indicators of the performance of its business given substantial operational differences between the Company today and at this time last year. As such, all comparisons are made to the prior sequential quarter, unless specifically noted. Revenue for the fiscal 2016 second quarter increased 11% to $20.7 million, or $21.2 million in constant currency versus the prior quarter $AUD exchange rate, compared with $18.7 million for the fiscal 2016 first quarter. The Company reported constant dollar sequential revenue growth in all reporting segments: within Advertising, DT Media and Appia Core revenue increased 27% and 14%, respectively; within DT Marketplace, DT Content™ and DT Pay™ revenue increased 6% on a constant currency basis and was flat on an as reported basis due to the foreign exchange impact of the Australia n Dollar of approximately $0.5 million. "Our performance in the second fiscal quarter demonstrates further adoption and growth in our DT Media business despite a seasonally low quarter for advertising spend, new device sell-through and few high-profile device launches," stated Bill Stone, CEO. "Revenues for the quarter were driven by a 27% sequential increase in DT Media revenue as we increased device penetration at a major Tier 1 U.S. carrier and a 14% sequential increase in Appia Core revenue as advertisers positioned their advertising spend ahead of the holiday season. " Mr. Stone continued, "The seasonally important December quarter is off to a strong start, with October revenues reaching a record high as we continue to execute on our three levers of growth: optimizing revenue per device, expanding our product distribution, and increasing our distribution footprint. The expansion of DT Ignite™ app slots across all U.S. carrier-partners, together with improving targeting, is already positively impacting revenue per device, which we expect to at least achieve our $2 target this year. Combined with our expectation of higher volumes of Holiday-driven device sell-through, we expect our DT Media business to continue to increase in the current quarter and have seen considerable pre-sales for inventory across our network for the period of Thanksgiving through Christmas. "   Non-GAAP adjusted gross profit and non-GAAP adjusted gross margin, which excludes the amortization of intangibles, were $4.6 million and 22%, respectively, for the second quarter of fiscal 2016, compared to $4.5 million and approximately 24%, respectively, for the first quarter of fiscal 2016. Please see Use of Non-GAAP measures at the end of this press release for the definition of Non-GAAP adjusted gross profit/margin. This sequential comparison was primarily driven by the increasing contribution from higher-margin DT Media revenue, and Appia Core revenue contribution at approximately 20% margins, offset by lower professional services revenue in the quarter, which carries higher margins. Additionally, Non-GAAP adjusted gross margin was adversely impacted by the reduction in DT EMEA Content revenues from the termination of our Cellcom agreement in June as well as the continued shift in mix to DT Pay from DT Marketplace. GAAP gross profit was $77,000 (0.4% GAAP gross margin) for the second quarter of fiscal 2016, versus $2.3 million (12% GAAP gross margin) for the fiscal 2016 first quarter. This sequential difference was primarily due to a $2.4 million non-cash write-off of intangibles associated with amounts attributable to customer relationships from the September 2012 acquisition of Logia Mobile Ltd. Total operating expenses for the second quarter of fiscal 2016 decreased 13% to $8.2 million compared with $9.4 million for the first quarter of fiscal 2016. The reduction in total operating expenses was a result of tighter costs controls across general and administrative items, specifically lower professional fees, as well as relatively flat headcount quarter over quarter. The fiscal second quarter was also positively impacted by a reversal of an accrual related to performance-based bonuses for this fiscal year of approximately $0.5 million. Net loss from continuing operations for the second quarter of fiscal 2016 was $8.3 million, or ($0.14) per share, based on 57.3 million weighted average shares outstanding. Net loss from continuing operations for the first quarter of fiscal 2016 was $8.1 million, or ($0.14) per share, based on 57.4 million weighted average shares outstanding. Net loss from continuing operations, net of income taxes, excluding the one-time write-off of $2.4 million of intangibles related to the Logia acquisition, referred to as Non-GAAP EPS, was $5.9 million, or a loss of ($0.10) per share. Non-GAAP adjusted EBITDA loss for the second quarter of fiscal 2016 was $2.1 million, a 35% decrease from $3.3 million for the first quarter of fiscal 2016. Please see Use of Non-GAAP measures at the end of this press release for the definition of adjusted EBITDA. The Company re-evaluated its definition of adjusted EBITDA at the end of the fiscal year ended March 31, 2015 and redefined this non-GAAP measure to exclude any bonus adjustments. Financial Outlook Management will address its full year Fiscal 2016 outlook on today's conference call and webcast. Mr. Stone concluded, "This quarter reflects our strengthening fundamentals across our businesses. We are confident that this strength will be reflected in results of operations in the near-medium and long term. The addition of AT&T, among other recently announced partnerships, has dramatically expanded our distribution reach globally. Existing carrier-partners have acknowledged our ability to monetize the home screens of their devices and have moved to deploy DT Ignite across additional app slots even as new carrier-partners come online in subsequent quarters. Advertisers have acknowledged our access to their target customers and are increasing their spend with us. Given this continued combined validation and incremental commitment, we expect the power of our business model to grow in the coming quarters. " About Digital Turbine, Inc. Digital Turbine innovates at the convergence of media and mobile communications, delivering end-to-end products and solutions for mobile operators, app advertisers, device OEMs and other third parties to enable them to effectively monetize mobile content and acquire higher value users. The Company's products include DT Ignite™, a mobile device management solution with targeted app distribution capabilities, DT IQ™, a customized user experience and app discovery tool, DT Marketplace™, an application and content store, and DT Pay™, a content management and mobile payment solution. Offerings also include DT Media, an advertiser solution for unique and exclusive carrier inventory, and Appia, a leading worldwide mobile user acquisition network. Digital Turbine has delivered more than 100 million app installs for hundreds of advertisers. In addition, more than 31 million customers use Digital Turbine's solutions each month across more than 20 global operators. The Company is headquartered in Austin, Texas with global offices in Durham, Berlin, San Francisco, Singapore , Sydney and Tel Aviv. For additional information visit www.digitalturbine.com  or connect with Digital Turbine on Twitter at @DigitalTurbine .

DT Media Frequently Asked Questions (FAQ)

  • When was DT Media founded?

    DT Media was founded in 1999.

  • What is DT Media's latest funding round?

    DT Media's latest funding round is Other Investors.

  • Who are the investors of DT Media?

    Investors of DT Media include YFM Equity Partners, Finance South West and Chemring Group.

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