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Digital Turbine, Inc. (NASDAQ:APPS), which has seen its stock surge over 145% year-to-date despite showing high price volatility according to InvestingPro data, reported the results of its 2025 annual meeting of stockholders held on August 26, 2025, according to a statement based on a recent SEC filing.
At the meeting, stockholders elected eight directors to serve until the 2026 annual meeting. The directors elected were Roy H. Chestnutt, Robert Deutschman, Holly Hess Groos, Mohan S. Gyani, Jeffrey Karish, Mollie V. Spilman, Michelle M. Sterling, and William G. Stone III. Each director received a majority of votes cast in favor, with votes for individual nominees ranging from approximately 46.3 million to 48.6 million, and votes withheld ranging from about 584,935 to 2.9 million.
A total of 74,821,475 shares, or 69.30% of shares entitled to vote, were present or represented by proxy, constituting a quorum for the meeting.
Stockholders also approved a non-binding advisory resolution on the compensation of the company’s named executive officers. The “say-on-pay” proposal received 46,457,840 votes in favor, 2,608,134 votes against, and 131,691 abstentions.
Additionally, the appointment of Grant Thornton LLP as Digital Turbine’s independent registered public accounting firm for the fiscal year ending March 31, 2026, was ratified. The vote for this proposal was 68,374,871 in favor, 6,254,178 against, and 192,426 abstentions.
As of the record date of July 2, 2025, there were 107,957,043 shares of common stock and 100,000 shares of Series A preferred stock outstanding and entitled to vote at the meeting. The preferred stock is convertible into 20,000 shares of common stock and votes together with common stock as a single class. With a current market capitalization of approximately $455 million and an overall weak financial health score according to InvestingPro, the company operates with a significant debt burden, carrying total debt of about $410 million as of the latest quarter.
This information is based on a press release statement filed with the Securities and Exchange Commission. Looking ahead, analysts maintain a consensus hold rating on the stock, with price targets ranging from $5.50 to $8.00. For deeper insights into Digital Turbine’s financial health, valuation metrics, and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Digital Turbine reported its financial results for the first quarter of fiscal year 2026. The company posted earnings per share (EPS) of $0.05, which was below the forecasted $0.07, representing a 28.57% negative surprise. However, revenue surpassed expectations, coming in at $130.9 million compared to the anticipated $121.64 million. In related developments, BofA Securities upgraded Digital Turbine’s stock rating from Underperform to Neutral. This upgrade was accompanied by an increase in the price target to $5.50 from $4.50, following the company’s return to growth. Digital Turbine achieved its second consecutive quarter of growth since the second quarter of 2023, with an 11% year-over-year revenue increase. This growth exceeded BofA’s initial projection of 5%. These recent developments highlight significant changes for Digital Turbine.
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