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William Gordon Stone III, the Chief Executive Officer of Digital Turbine, Inc. (NASDAQ:APPS), recently made a significant purchase of the company’s stock. According to a recent SEC filing, Stone acquired 100,000 shares of Digital Turbine’s common stock at a price of $2.59 per share, totaling approximately $259,000. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with the company’s market capitalization standing at $277 million.
This transaction increases Stone’s total holdings to 1,762,503 shares, reflecting his continued confidence in the company’s prospects. Investors often view such insider purchases as a positive signal, indicating that executives have faith in the company’s future performance. Despite recent volatility, the stock has shown remarkable strength with a 74% gain year-to-date, though InvestingPro data reveals analysts anticipate a sales decline in the current year.
Digital Turbine, headquartered in Austin, Texas, is a key player in the mobile technology sector, providing solutions that simplify content delivery to mobile devices. The company continues to expand its offerings and market presence, with its stock trading under the ticker symbol APPS on the NASDAQ exchange. For deeper insights into Digital Turbine’s financial health and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.
In other recent news, Digital Turbine has announced an increase in its full-year revenue guidance following a strong third quarter performance. The company reported earnings per share (EPS) of $0.13, significantly beating the analyst estimate of $0.01. Revenue for the quarter reached $134.6 million, slightly above the consensus estimate of $134.46 million, marking a 13% increase from the previous quarter. Despite these positive figures, Digital Turbine reported a GAAP net loss of $23.1 million, although non-GAAP adjusted net income was $13.7 million. The company projects fiscal year 2025 revenue between $485 million and $490 million, surpassing the consensus estimate of $477 million, and anticipates non-GAAP adjusted EBITDA to be between $69 million and $71 million. Strategic partnerships with major tech companies like Epic and Microsoft (NASDAQ:MSFT) are enhancing Digital Turbine’s market position, and the company is targeting over $25 million in annual operating expense savings. Analysts have noted the company’s improved execution and strategic initiatives, which have contributed to its optimistic outlook.
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