Digital Turbine Inc
For the period ended Dec 31, 2023. Filed Feb 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 7, 2024
APPS$7.25-35.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Nine months ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities | ||
| Net (loss) income | $(183,942) | $30,723 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation and amortization | 62,934 | 60,147 |
| Non-cash interest expense | 633 | 619 |
| Allowance for credit losses | 2,575 | 3,009 |
| Stock-based compensation expense | 27,020 | 19,643 |
| Foreign exchange transaction (gain) loss | (155) | 581 |
| Change in fair value of contingent consideration | (372) | — |
| Right-of-use asset | 545 | 4,868 |
| Deferred income taxes | (9,009) | (2,494) |
| Impairment of goodwill | 147,181 | — |
| (Increase) decrease in assets: | ||
| Accounts receivable, gross | (44,427) | 32,816 |
| Prepaid expenses and other current assets | (8,299) | (11,397) |
| Other non-current assets | (5,004) | 100 |
| Increase (decrease) in liabilities: | ||
| Accounts payable | 40,082 | (14,113) |
| Accrued revenue share | (2,836) | (20,324) |
| Accrued compensation | (3,441) | (13,131) |
| Other current liabilities | 16,963 | 11,784 |
| Other non-current liabilities | (15) | (5,317) |
| Net cash provided by operating activities | 40,433 | 97,514 |
| Cash flows from investing activities | ||
| Equity investments | (9,678) | (4,000) |
| Purchase price adjustment related to business acquisition | 65 | (2,708) |
| Capital expenditures | (17,384) | (18,598) |
| Net cash used in investing activities | (26,997) | (25,306) |
| Cash flows from financing activities | ||
| Proceeds from borrowings | 25,000 | 18,000 |
| Payment of debt issuance costs | — | (94) |
| Repayment of debt obligations | (62,134) | (129,500) |
| Acquisition of non-controlling interest in consolidated subsidiaries | (3,751) | — |
| Payment of withholding taxes for net share settlement of equity awards | (1,176) | (6,202) |
| Options exercised | 2,786 | 1,095 |
| Net cash used in financing activities | (39,275) | (116,701) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (254) | (2,808) |
| Net change in cash, cash equivalents, and restricted cash | (26,093) | (47,301) |
| Cash, cash equivalents, and restricted cash, beginning of period | 75,558 | 127,162 |
| Cash, cash equivalents, and restricted cash, end of period | $49,465 | $79,861 |
| Supplemental disclosure of cash flow information | ||
| Interest paid | $22,876 | $12,912 |
| Income taxes paid | $536 | $3,917 |
| Supplemental disclosure of non-cash activities | ||
| Common stock issued for the acquisition of Fyber | $— | $50,000 |
| Unpaid cash consideration for the acquisition of Fyber Minority Interest | $— | $2,578 |
| Fair value of unpaid contingent consideration in connection with business acquisitions | $2,366 | $2,738 |
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