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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Digital Turbine Inc | NASDAQ:APPS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.09 | 4.71% | 2.00 | 1.95 | 2.00 | 2.01 | 1.89 | 1.91 | 923,353 | 23:59:02 |
ý
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
22-2267658
|
(State or Other Jurisdiction of
Incorporation or Organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
110 San Antonio Street, Suite 160, Austin, TX
|
|
78701
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Title of Each Class
|
Trading Symbol(s)
|
Name of Each Exchange on Which Registered
|
Common Stock, Par Value $0.0001 Per Share
|
APPS
|
The Nasdaq Stock Market LLC
|
|
|
(NASDAQ Capital Market)
|
Large Accelerated Filer
|
¨
|
Accelerated Filer
|
ý
|
|
|
|
|
Non-accelerated Filer
|
¨
|
Smaller Reporting Company
|
¨
|
|
|
|
|
Emerging Growth Company
|
¨
|
|
|
|
|
|
|
|
|
Item 1.
|
|
|
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
Item 2.
|
||
|
|
|
Item 3.
|
||
|
|
|
Item 4.
|
||
|
|
|
|
|
|
|
|
|
Item 1.
|
||
|
|
|
Item 1A.
|
||
|
|
|
Item 2.
|
||
|
|
|
Item 3.
|
||
|
|
|
Item 4.
|
||
|
|
|
Item 5.
|
||
|
|
|
Item 6.
|
||
|
|
|
|
|
|
December 31, 2019
|
|
March 31, 2019
|
||||
|
|
(Unaudited)
|
|
|
||||
ASSETS
|
|
|
|
|
||||
Current assets
|
|
|
|
|
||||
Cash
|
|
$
|
33,714
|
|
|
$
|
10,894
|
|
Restricted cash
|
|
165
|
|
|
165
|
|
||
Accounts receivable, net of allowances of $1,101 and $895, respectively
|
|
26,694
|
|
|
22,707
|
|
||
Prepaid expenses and other current assets
|
|
2,141
|
|
|
1,331
|
|
||
Current assets held for disposal
|
|
1,527
|
|
|
2,026
|
|
||
Total current assets
|
|
64,241
|
|
|
37,123
|
|
||
Property and equipment, net
|
|
5,116
|
|
|
3,430
|
|
||
Right-of-use assets
|
|
2,029
|
|
|
—
|
|
||
Deferred tax assets
|
|
—
|
|
|
40
|
|
||
Goodwill
|
|
42,268
|
|
|
42,268
|
|
||
TOTAL ASSETS
|
|
$
|
113,654
|
|
|
$
|
82,861
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
||||
Current liabilities
|
|
|
|
|
||||
Accounts payable
|
|
$
|
20,820
|
|
|
$
|
14,912
|
|
Accrued license fees and revenue share
|
|
16,264
|
|
|
16,205
|
|
||
Accrued compensation
|
|
3,296
|
|
|
2,441
|
|
||
Warrant liability
|
|
6,300
|
|
|
—
|
|
||
Other current liabilities
|
|
4,285
|
|
|
826
|
|
||
Current liabilities held for disposal
|
|
3,431
|
|
|
3,924
|
|
||
Total current liabilities
|
|
54,396
|
|
|
38,308
|
|
||
Warrant liability
|
|
—
|
|
|
8,013
|
|
||
Other non-current liabilities
|
|
2,007
|
|
|
182
|
|
||
Total liabilities
|
|
56,403
|
|
|
46,503
|
|
||
Stockholders' equity
|
|
|
|
|
||||
Preferred stock
|
|
|
|
|
||||
Series A convertible preferred stock at $0.0001 par value; 2,000,000 shares authorized, 100,000 issued and outstanding (liquidation preference of $1,000)
|
|
100
|
|
|
100
|
|
||
Common stock
|
|
|
|
|
||||
$0.0001 par value: 200,000,000 shares authorized; 87,057,421 issued and 86,322,965 outstanding at December 31, 2019; 82,354,940 issued and 81,620,485 outstanding at March 31, 2019
|
|
10
|
|
|
10
|
|
||
Additional paid-in capital
|
|
353,968
|
|
|
332,793
|
|
||
Treasury stock (754,599 shares at December 31, 2019 and March 31, 2019)
|
|
(71
|
)
|
|
(71
|
)
|
||
Accumulated other comprehensive loss
|
|
(720
|
)
|
|
(356
|
)
|
||
Accumulated deficit
|
|
(296,036
|
)
|
|
(296,118
|
)
|
||
Total stockholders' equity
|
|
57,251
|
|
|
36,358
|
|
||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
$
|
113,654
|
|
|
$
|
82,861
|
|
|
|
Three months ended December 31,
|
|
Nine months ended December 31,
|
||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Net revenues
|
|
$
|
36,016
|
|
|
$
|
30,411
|
|
|
$
|
99,364
|
|
|
$
|
76,377
|
|
Cost of revenues
|
|
|
|
|
|
|
|
|
||||||||
License fees and revenue share
|
|
21,576
|
|
|
19,195
|
|
|
59,997
|
|
|
50,213
|
|
||||
Other direct costs of revenues
|
|
400
|
|
|
538
|
|
|
1,022
|
|
|
1,553
|
|
||||
Total cost of revenues
|
|
21,976
|
|
|
19,733
|
|
|
61,019
|
|
|
51,766
|
|
||||
Gross profit
|
|
14,040
|
|
|
10,678
|
|
|
38,345
|
|
|
24,611
|
|
||||
Operating expenses
|
|
|
|
|
|
|
|
|
||||||||
Product development
|
|
2,783
|
|
|
2,428
|
|
|
8,312
|
|
|
8,174
|
|
||||
Sales and marketing
|
|
2,815
|
|
|
1,962
|
|
|
7,534
|
|
|
5,711
|
|
||||
General and administrative
|
|
4,310
|
|
|
3,832
|
|
|
12,212
|
|
|
9,215
|
|
||||
Total operating expenses
|
|
9,908
|
|
|
8,222
|
|
|
28,058
|
|
|
23,100
|
|
||||
Income from operations
|
|
4,132
|
|
|
2,456
|
|
|
10,287
|
|
|
1,511
|
|
||||
Interest and other income / (expense), net
|
|
|
|
|
|
|
|
|
||||||||
Interest income / (expense), net
|
|
59
|
|
|
(194
|
)
|
|
118
|
|
|
(648
|
)
|
||||
Foreign exchange transaction gain / (loss)
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
7
|
|
||||
Change in fair value of convertible note embedded derivative liability
|
|
—
|
|
|
(1,476
|
)
|
|
—
|
|
|
1,096
|
|
||||
Change in fair value of warrant liability
|
|
(870
|
)
|
|
(1,651
|
)
|
|
(10,601
|
)
|
|
845
|
|
||||
Loss on extinguishment of debt
|
|
—
|
|
|
(10
|
)
|
|
—
|
|
|
(25
|
)
|
||||
Other income / (expense)
|
|
(19
|
)
|
|
(43
|
)
|
|
455
|
|
|
(169
|
)
|
||||
Total interest and other income / (expense), net
|
|
(830
|
)
|
|
(3,376
|
)
|
|
(10,028
|
)
|
|
1,106
|
|
||||
Income / (loss) from continuing operations before income taxes
|
|
3,302
|
|
|
(920
|
)
|
|
259
|
|
|
2,617
|
|
||||
Income tax provision
|
|
41
|
|
|
216
|
|
|
6
|
|
|
157
|
|
||||
Income / (loss) from continuing operations, net of taxes
|
|
3,261
|
|
|
(1,136
|
)
|
|
253
|
|
|
2,460
|
|
||||
Income / (loss) from discontinued operations
|
|
65
|
|
|
(212
|
)
|
|
(171
|
)
|
|
(1,612
|
)
|
||||
Net income / (loss) from discontinued operations, net of taxes
|
|
65
|
|
|
(212
|
)
|
|
(171
|
)
|
|
(1,612
|
)
|
||||
Net income / (loss)
|
|
$
|
3,326
|
|
|
$
|
(1,348
|
)
|
|
$
|
82
|
|
|
$
|
848
|
|
Other comprehensive loss
|
|
|
|
|
|
|
|
|
||||||||
Foreign currency translation adjustment
|
|
(44
|
)
|
|
(5
|
)
|
|
(364
|
)
|
|
(5
|
)
|
||||
Comprehensive income / (loss)
|
|
$
|
3,282
|
|
|
$
|
(1,353
|
)
|
|
$
|
(282
|
)
|
|
$
|
843
|
|
Basic and diluted net income / (loss) per common share
|
|
|
|
|
|
|
|
|
||||||||
Continuing operations
|
|
$
|
0.04
|
|
|
$
|
(0.01
|
)
|
|
$
|
—
|
|
|
$
|
0.03
|
|
Discontinued operations
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.02
|
)
|
||||
Net income / (loss)
|
|
$
|
0.04
|
|
|
$
|
(0.01
|
)
|
|
$
|
—
|
|
|
$
|
0.01
|
|
Weighted-average common shares outstanding, basic
|
|
85,876
|
|
|
77,645
|
|
|
83,869
|
|
|
76,977
|
|
||||
Weighted-average common shares outstanding, diluted
|
|
92,472
|
|
|
77,645
|
|
|
89,759
|
|
|
79,371
|
|
|
|
Nine months ended December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Cash flows from operating activities
|
|
|
|
|
|
|
||
Net income from continuing operations, net of taxes
|
|
$
|
253
|
|
|
$
|
2,460
|
|
Adjustments to reconcile net income from continuing operations to net cash provided by / (used in) operating activities:
|
|
|
|
|
||||
Depreciation and amortization
|
|
1,484
|
|
|
2,145
|
|
||
Loss on disposal of fixed assets
|
|
4
|
|
|
—
|
|
||
Change in allowance for doubtful accounts
|
|
206
|
|
|
425
|
|
||
Amortization of debt discount and debt issuance costs
|
|
—
|
|
|
251
|
|
||
Stock-based compensation
|
|
2,044
|
|
|
1,416
|
|
||
Stock-based compensation for services rendered
|
|
470
|
|
|
365
|
|
||
Change in fair value of convertible note embedded derivative liability
|
|
—
|
|
|
(1,096
|
)
|
||
Change in fair value of warrant liability
|
|
10,601
|
|
|
(845
|
)
|
||
Loss on extinguishment of debt
|
|
—
|
|
|
25
|
|
||
(Increase) / decrease in assets:
|
|
|
|
|
||||
Accounts receivable
|
|
(4,193
|
)
|
|
(7,626
|
)
|
||
Deferred tax assets
|
|
40
|
|
|
157
|
|
||
Prepaid expenses and other current assets
|
|
(829
|
)
|
|
(561
|
)
|
||
Right-of-use assets
|
|
(2,029
|
)
|
|
—
|
|
||
Increase / (decrease) in liabilities:
|
|
|
|
|
||||
Accounts payable
|
|
5,908
|
|
|
2,657
|
|
||
Accrued license fees and revenue share
|
|
59
|
|
|
3,258
|
|
||
Accrued compensation
|
|
855
|
|
|
(1,345
|
)
|
||
Other current liabilities
|
|
3,459
|
|
|
788
|
|
||
Other non-current liabilities
|
|
1,823
|
|
|
55
|
|
||
Net cash provided by operating activities - continuing operations
|
|
20,155
|
|
|
2,529
|
|
||
Net cash used in operating activities - discontinued operations
|
|
(145
|
)
|
|
(3,436
|
)
|
||
Net cash provided by / (used in) operating activities
|
|
20,010
|
|
|
(907
|
)
|
||
|
|
|
|
|
||||
Cash flows from investing activities
|
|
|
|
|
|
|
||
Capital expenditures
|
|
(3,179
|
)
|
|
(1,781
|
)
|
||
Net cash used in investing activities
|
|
(3,179
|
)
|
|
(1,781
|
)
|
||
|
|
|
|
|
||||
Cash flows from financing activities
|
|
|
|
|
|
|
||
Options and warrants exercised
|
|
6,353
|
|
|
223
|
|
||
Repayment of debt obligations
|
|
—
|
|
|
(50
|
)
|
||
Net cash provided by financing activities
|
|
6,353
|
|
|
173
|
|
||
|
|
|
|
|
||||
Effect of exchange rate changes on cash
|
|
(364
|
)
|
|
(5
|
)
|
||
|
|
|
|
|
||||
Net change in cash
|
|
22,820
|
|
|
(2,520
|
)
|
||
|
|
|
|
|
||||
Cash and restricted cash, beginning of period
|
|
11,059
|
|
|
13,051
|
|
||
|
|
|
|
|
||||
Cash and restricted cash, end of period
|
|
$
|
33,879
|
|
|
$
|
10,531
|
|
|
|
|
|
|
||||
Supplemental disclosure of cash flow information
|
|
|
|
|
|
|
||
Interest paid
|
|
$
|
—
|
|
|
$
|
290
|
|
Supplemental disclosure of non-cash financing activities
|
|
|
|
|
||||
Common stock of the Company issued for extinguishment of debt
|
|
$
|
—
|
|
|
$
|
1,190
|
|
Cashless exercise of warrants to purchase common stock of the Company
|
|
$
|
791
|
|
|
$
|
—
|
|
|
|
Common Stock
Shares |
|
Amount
|
|
Preferred Stock
Shares |
|
Amount
|
|
Treasury Stock
Shares |
|
Amount
|
|
Additional
Paid-In Capital |
|
Accumulated
Other Comprehensive Income / (Loss) |
|
Accumulated
Deficit |
|
Total
|
|||||||||||||||||
Balance at March 31, 2019
|
|
81,620,485
|
|
|
$
|
10
|
|
|
100,000
|
|
|
$
|
100
|
|
|
754,599
|
|
|
$
|
(71
|
)
|
|
$
|
332,793
|
|
|
$
|
(356
|
)
|
|
$
|
(296,118
|
)
|
|
$
|
36,358
|
|
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,819
|
)
|
|
(1,819
|
)
|
|||||||
Foreign currency translation
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
98
|
|
|
—
|
|
|
98
|
|
|||||||
Settlement of warrant derivative liability
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
715
|
|
|
—
|
|
|
—
|
|
|
715
|
|
|||||||
Stock-based compensation
|
|
38,759
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
560
|
|
|
—
|
|
|
—
|
|
|
560
|
|
|||||||
Stock-based compensation for services rendered
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
122
|
|
|
—
|
|
|
—
|
|
|
122
|
|
|||||||
Options exercised
|
|
616,208
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
910
|
|
|
—
|
|
|
—
|
|
|
910
|
|
|||||||
Warrants exercised
|
|
212,250
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
289
|
|
|
—
|
|
|
—
|
|
|
289
|
|
|||||||
Balance at June 30, 2019
|
|
82,487,702
|
|
|
10
|
|
|
100,000
|
|
|
100
|
|
|
754,599
|
|
|
(71
|
)
|
|
335,389
|
|
|
(258
|
)
|
|
(297,937
|
)
|
|
37,233
|
|
|||||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,425
|
)
|
|
(1,425
|
)
|
|||||||
Foreign currency translation
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(418
|
)
|
|
—
|
|
|
(418
|
)
|
|||||||
Settlement of warrant derivative liability
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8,648
|
|
|
—
|
|
|
—
|
|
|
8,648
|
|
|||||||
Stock-based compensation
|
|
9,690
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
740
|
|
|
—
|
|
|
—
|
|
|
740
|
|
|||||||
Stock-based compensation for services rendered
|
|
75,494
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
175
|
|
|
—
|
|
|
—
|
|
|
175
|
|
|||||||
Options exercised
|
|
1,006,792
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,891
|
|
|
—
|
|
|
—
|
|
|
1,891
|
|
|||||||
Warrants exercised
|
|
1,667,293
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,723
|
|
|
—
|
|
|
—
|
|
|
1,723
|
|
|||||||
Balance at September 30, 2019
|
|
85,246,971
|
|
|
10
|
|
|
100,000
|
|
|
100
|
|
|
754,599
|
|
|
(71
|
)
|
|
348,566
|
|
|
(676
|
)
|
|
(299,362
|
)
|
|
48,567
|
|
|||||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,326
|
|
|
3,326
|
|
|||||||
Foreign currency translation
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(44
|
)
|
|
—
|
|
|
(44
|
)
|
|||||||
Settlement of warrant derivative liability
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,945
|
|
|
—
|
|
|
—
|
|
|
2,945
|
|
|||||||
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
744
|
|
|
—
|
|
|
—
|
|
|
744
|
|
|||||||
Stock-based compensation for services rendered
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
173
|
|
|
—
|
|
|
—
|
|
|
173
|
|
|||||||
Options exercised
|
|
546,876
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
927
|
|
|
—
|
|
|
—
|
|
|
927
|
|
|||||||
Warrants exercised
|
|
529,118
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
613
|
|
|
—
|
|
|
—
|
|
|
613
|
|
|||||||
Balance at December 31, 2019
|
|
86,322,965
|
|
|
$
|
10
|
|
|
100,000
|
|
|
$
|
100
|
|
|
754,599
|
|
|
$
|
(71
|
)
|
|
$
|
353,968
|
|
|
$
|
(720
|
)
|
|
$
|
(296,036
|
)
|
|
$
|
57,251
|
|
|
|
Common Stock
Shares |
|
Amount
|
|
Preferred Stock
Shares |
|
Amount
|
|
Treasury Stock
Shares |
|
Amount
|
|
Additional
Paid-In Capital |
|
Accumulated
Other Comprehensive Income / (Loss) |
|
Accumulated
Deficit |
|
Total
|
|||||||||||||||||
Balance at March 31, 2018
|
|
76,108,823
|
|
|
$
|
10
|
|
|
100,000
|
|
|
$
|
100
|
|
|
754,599
|
|
|
$
|
(71
|
)
|
|
$
|
318,066
|
|
|
$
|
(325
|
)
|
|
$
|
(290,108
|
)
|
|
$
|
27,672
|
|
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
484
|
|
|
484
|
|
|||||||
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
500
|
|
|
—
|
|
|
—
|
|
|
500
|
|
|||||||
Stock-based compensation for services rendered
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
85
|
|
|
—
|
|
|
—
|
|
|
85
|
|
|||||||
Options exercised
|
|
50,000
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
39
|
|
|
—
|
|
|
—
|
|
|
39
|
|
|||||||
Balance at June 30, 2018
|
|
76,158,823
|
|
|
10
|
|
|
100,000
|
|
|
100
|
|
|
754,599
|
|
|
(71
|
)
|
|
318,690
|
|
|
(325
|
)
|
|
(289,624
|
)
|
|
28,780
|
|
|||||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,712
|
|
|
1,712
|
|
|||||||
Foreign currency translation
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
2
|
|
|||||||
Conversion of convertible notes to equity
|
|
670,878
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
948
|
|
|
—
|
|
|
—
|
|
|
948
|
|
|||||||
Stock-based compensation
|
|
306,656
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
602
|
|
|
—
|
|
|
—
|
|
|
602
|
|
|||||||
Options exercised
|
|
111,200
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
121
|
|
|
—
|
|
|
—
|
|
|
121
|
|
|||||||
Balance at September 30, 2018
|
|
77,247,557
|
|
|
10
|
|
|
100,000
|
|
|
100
|
|
|
754,599
|
|
|
(71
|
)
|
|
320,361
|
|
|
(323
|
)
|
|
(287,912
|
)
|
|
32,165
|
|
|||||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,348
|
)
|
|
(1,348
|
)
|
|||||||
Conversion of convertible notes to equity
|
|
168,773
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
241
|
|
|
—
|
|
|
—
|
|
|
241
|
|
|||||||
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
632
|
|
|
—
|
|
|
—
|
|
|
632
|
|
|||||||
Options exercised
|
|
55,583
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
63
|
|
|
—
|
|
|
—
|
|
|
63
|
|
|||||||
Balance at December 31, 2018
|
|
77,471,913
|
|
|
$
|
10
|
|
|
100,000
|
|
|
$
|
100
|
|
|
754,599
|
|
|
$
|
(71
|
)
|
|
$
|
321,297
|
|
|
$
|
(323
|
)
|
|
$
|
(289,260
|
)
|
|
$
|
31,753
|
|
•
|
Ignite™ ("Ignite"), a software platform with targeted media delivery and management capabilities, and
|
•
|
Other recurring and life-cycle products, features, and professional services delivered on the Ignite platform.
|
•
|
Ignite, a mobile application management software that enables mobile operators and OEMs to control, manage, and monetize applications installed at the time of activation and over the life of a mobile device. Ignite allows mobile operators and OEMs to personalize the application activation experience for customers and monetize their home screens via Cost-Per-Install or CPI arrangements, Cost-Per-Placement or CPP arrangements, and/or Cost-Per-Action or CPA arrangements with third party advertisers. There are several different delivery methods available to operators and OEMs on first boot of the device: Wizard, Dynamic Installs, or Software Development Kit ("SDK"). Optional notification features are available throughout the life-cycle of the device, providing operators and OEMs additional opportunity for advertising revenue streams.
|
•
|
Other products and professional services directly related to the Ignite platform.
|
|
|
Three months ended December 31,
|
|
Nine months ended December 31,
|
||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Net revenues
|
|
$
|
—
|
|
|
$
|
3
|
|
|
$
|
—
|
|
|
$
|
3,880
|
|
Total cost of revenues
|
|
(102
|
)
|
|
—
|
|
|
(102
|
)
|
|
3,070
|
|
||||
Gross profit
|
|
102
|
|
|
3
|
|
|
102
|
|
|
810
|
|
||||
Product development
|
|
—
|
|
|
37
|
|
|
62
|
|
|
703
|
|
||||
Sales and marketing
|
|
—
|
|
|
7
|
|
|
—
|
|
|
350
|
|
||||
General and administrative
|
|
37
|
|
|
160
|
|
|
122
|
|
|
1,212
|
|
||||
Income / (loss) from operations
|
|
65
|
|
|
(201
|
)
|
|
(82
|
)
|
|
(1,455
|
)
|
||||
Interest and other income / (expense), net
|
|
—
|
|
|
(11
|
)
|
|
(89
|
)
|
|
(157
|
)
|
||||
Income / (loss) from discontinued operations before income taxes
|
|
65
|
|
|
(212
|
)
|
|
(171
|
)
|
|
(1,612
|
)
|
||||
Income / (loss) from discontinued operations, net of taxes
|
|
65
|
|
|
(212
|
)
|
|
(171
|
)
|
|
(1,612
|
)
|
||||
Comprehensive income / (loss)
|
|
$
|
65
|
|
|
$
|
(212
|
)
|
|
$
|
(171
|
)
|
|
$
|
(1,612
|
)
|
Basic and diluted net income / (loss) per common share
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(0.02
|
)
|
Weighted-average common shares outstanding, basic
|
|
85,876
|
|
|
77,645
|
|
|
83,869
|
|
|
76,977
|
|
||||
Weighted-average common shares outstanding, diluted
|
|
92,472
|
|
|
77,645
|
|
|
89,759
|
|
|
79,371
|
|
|
|
Nine months ended December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
|
|
(Unaudited)
|
|
(Unaudited)
|
||||
Cash flows from operating activities
|
|
|
|
|
||||
Net loss from discontinued operations, net of taxes
|
|
$
|
(171
|
)
|
|
$
|
(1,612
|
)
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
|
|
|
|
||||
Depreciation and amortization
|
|
19
|
|
|
247
|
|
||
Impairment of goodwill
|
|
—
|
|
|
309
|
|
||
Change in allowance for doubtful accounts
|
|
(47
|
)
|
|
(380
|
)
|
||
Loss on disposal of fixed assets
|
|
104
|
|
|
—
|
|
||
Stock-based compensation
|
|
—
|
|
|
37
|
|
||
(Increase) / decrease in assets:
|
|
|
|
|
||||
Accounts receivable
|
|
405
|
|
|
5,164
|
|
||
Prepaid expenses and other current assets
|
|
—
|
|
|
95
|
|
||
Increase / (decrease) in liabilities:
|
|
|
|
|
||||
Accounts payable
|
|
(232
|
)
|
|
(4,675
|
)
|
||
Accrued license fees and revenue share
|
|
(202
|
)
|
|
(1,991
|
)
|
||
Accrued compensation
|
|
(56
|
)
|
|
(302
|
)
|
||
Other current liabilities
|
|
35
|
|
|
(328
|
)
|
||
Cash used in operating activities
|
|
(145
|
)
|
|
(3,436
|
)
|
||
|
|
|
|
|
||||
Cash used in discontinued operations
|
|
$
|
(145
|
)
|
|
$
|
(3,436
|
)
|
|
|
December 31, 2019
|
|
March 31, 2019
|
||||
|
|
(Unaudited)
|
|
|
||||
Billed
|
|
$
|
13,314
|
|
|
$
|
11,833
|
|
Unbilled
|
|
14,481
|
|
|
11,769
|
|
||
Allowance for doubtful accounts
|
|
(1,101
|
)
|
|
(895
|
)
|
||
Accounts receivable, net
|
|
$
|
26,694
|
|
|
$
|
22,707
|
|
|
|
December 31, 2019
|
|
March 31, 2019
|
||||
|
|
(Unaudited)
|
|
|
||||
Computer-related equipment
|
|
$
|
9,691
|
|
|
$
|
7,077
|
|
Furniture and fixtures
|
|
414
|
|
|
223
|
|
||
Leasehold improvements
|
|
623
|
|
|
558
|
|
||
Property and equipment, gross
|
|
10,728
|
|
|
7,858
|
|
||
Accumulated depreciation
|
|
(5,612
|
)
|
|
(4,428
|
)
|
||
Property and equipment, net
|
|
$
|
5,116
|
|
|
$
|
3,430
|
|
|
|
December 31, 2019
|
||
|
|
(Unaudited)
|
||
Remainder of fiscal year 2020
|
|
$
|
169
|
|
Fiscal year 2021
|
|
688
|
|
|
Fiscal year 2022
|
|
705
|
|
|
Fiscal year 2023
|
|
723
|
|
|
Fiscal year 2024
|
|
520
|
|
|
Thereafter
|
|
203
|
|
|
Total undiscounted cash flows
|
|
3,008
|
|
|
(Less imputed interest)
|
|
(368
|
)
|
|
Present value of lease liabilities
|
|
$
|
2,640
|
|
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Balance as of December 31, 2019
|
||||||||
|
|
|
|
|
|
|
|
(Unaudited)
|
||||||||
Financial Liabilities
|
|
|
|
|
|
|
|
|
||||||||
Warrant liability
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
6,300
|
|
|
$
|
6,300
|
|
Total
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
6,300
|
|
|
$
|
6,300
|
|
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Balance as of March 31, 2019
|
||||||||
Financial Liabilities
|
|
|
|
|
|
|
|
|
||||||||
Warrant liability
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,013
|
|
|
$
|
8,013
|
|
Total
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,013
|
|
|
$
|
8,013
|
|
|
|
Level 3
|
||
Balance at March 31, 2019
|
|
$
|
8,013
|
|
Change in fair value of warrant liability
|
|
10,601
|
|
|
De-recognition on exercises
|
|
(12,314
|
)
|
|
Balance at December 31, 2019
|
|
$
|
6,300
|
|
|
|
Number of
Shares |
|
Weighted Average
Exercise Price (per share) |
|
Weighted Average
Remaining Contractual Life (in years) |
|
Aggregate Intrinsic
Value (in thousands) |
|||||
Options Outstanding, March 31, 2019
|
|
9,128,885
|
|
|
$
|
1.80
|
|
|
7.31
|
|
$
|
16,347
|
|
Granted
|
|
1,738,750
|
|
|
4.34
|
|
|
|
|
|
|||
Forfeited / Cancelled
|
|
(397,321
|
)
|
|
1.78
|
|
|
|
|
|
|||
Exercised
|
|
(2,169,876
|
)
|
|
1.72
|
|
|
|
|
|
|||
Options Outstanding, December 31, 2019
|
|
8,300,438
|
|
|
2.36
|
|
|
7.15
|
|
39,656
|
|
||
Vested and expected to vest (net of estimated forfeitures) at December 31, 2019 (a)
|
|
7,413,546
|
|
|
2.29
|
|
|
6.97
|
|
35,900
|
|
||
Exercisable, December 31, 2019
|
|
5,119,274
|
|
|
$
|
2.15
|
|
|
6.28
|
|
$
|
25,517
|
|
|
|
Options Outstanding
|
|
Options Exercisable
|
||||||||||||
Exercise Price
|
|
Number of Shares
|
|
Weighted-Average Exercise Price
|
|
Weighted-Average Remaining Life (Years)
|
|
Number of Shares
|
|
Weighted-Average Exercise Price
|
||||||
$0.51 - 1.00
|
|
1,591,790
|
|
|
$
|
0.73
|
|
|
6.84
|
|
828,032
|
|
|
$
|
0.73
|
|
$1.01 - 1.50
|
|
1,863,050
|
|
|
$
|
1.29
|
|
|
6.60
|
|
1,718,255
|
|
|
$
|
1.30
|
|
$1.51 - 2.00
|
|
1,024,212
|
|
|
$
|
1.67
|
|
|
8.31
|
|
492,253
|
|
|
$
|
1.66
|
|
$2.01 - 2.50
|
|
560,778
|
|
|
$
|
2.23
|
|
|
8.30
|
|
250,156
|
|
|
$
|
2.21
|
|
$2.51 - 3.00
|
|
535,958
|
|
|
$
|
2.59
|
|
|
4.34
|
|
535,958
|
|
|
$
|
2.59
|
|
$3.51 - 4.00
|
|
1,812,650
|
|
|
$
|
3.89
|
|
|
8.15
|
|
680,783
|
|
|
$
|
3.93
|
|
$4.01 - 4.50
|
|
475,000
|
|
|
$
|
4.13
|
|
|
4.78
|
|
475,000
|
|
|
$
|
4.13
|
|
$4.51 - 5.00
|
|
60,000
|
|
|
$
|
4.65
|
|
|
3.24
|
|
60,000
|
|
|
$
|
4.65
|
|
$5.01 and over
|
|
377,000
|
|
|
$
|
6.32
|
|
|
9.03
|
|
78,837
|
|
|
$
|
5.96
|
|
|
|
8,300,438
|
|
|
2.36
|
|
|
7.15
|
|
5,119,274
|
|
|
2.15
|
|
|
|
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Total fair value of options vested
|
|
$
|
2,028
|
|
|
$
|
1,202
|
|
Total intrinsic value of options exercised (a)
|
|
$
|
10,364
|
|
|
$
|
192
|
|
|
|
December 31, 2019
|
Risk-free interest rate
|
|
1.67% to 2.25%
|
Expected life of the options
|
|
5.35 to 9.83 years
|
Expected volatility
|
|
65% to 66%
|
Expected dividend yield
|
|
—%
|
Expected forfeitures
|
|
27% to 29%
|
|
|
Number of Warrants Outstanding
|
|
Weighted-Average Exercise Price
|
|||
Outstanding as of March 31, 2019
|
|
3,639,100
|
|
|
$
|
1.37
|
|
Exercised
|
|
(2,524,500
|
)
|
|
1.36
|
|
|
Outstanding as of December 31, 2019
|
|
1,114,600
|
|
|
$
|
1.38
|
|
|
|
Number of Shares
|
|
Weighted-Average Grant Date Fair Value
|
|||
Unvested restricted stock outstanding as of March 31, 2019
|
|
153,328
|
|
|
$
|
1.39
|
|
Granted
|
|
75,494
|
|
|
5.58
|
|
|
Vested
|
|
(172,202
|
)
|
|
1.85
|
|
|
Unvested restricted stock outstanding as of December 31, 2019
|
|
56,620
|
|
|
$
|
5.58
|
|
|
|
Three months ended December 31,
|
|
Nine months ended December 31,
|
||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Income / (loss) from continuing operations, net of taxes
|
|
$
|
3,261
|
|
|
$
|
(1,136
|
)
|
|
$
|
253
|
|
|
$
|
2,460
|
|
Weighted-average common shares outstanding, basic
|
|
85,876
|
|
|
77,645
|
|
|
83,869
|
|
|
76,977
|
|
||||
Weighted-average common shares outstanding, diluted
|
|
92,472
|
|
|
77,645
|
|
|
89,759
|
|
|
79,371
|
|
||||
Basic and diluted net income / (loss) per common share
|
|
$
|
0.04
|
|
|
$
|
(0.01
|
)
|
|
$
|
—
|
|
|
$
|
0.03
|
|
Common stock equivalents included in net income per diluted share
|
|
6,596
|
|
|
—
|
|
|
5,890
|
|
|
2,394
|
|
||||
Common stock equivalents excluded from net loss per diluted share because their effect would have been anti-dilutive
|
|
—
|
|
|
2,485
|
|
|
—
|
|
|
—
|
|
|
|
Three months ended December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
|
|
(Unaudited)
|
||||||
Net revenues
|
|
|
|
|
||||
United States and Canada
|
|
$
|
22,486
|
|
|
$
|
20,952
|
|
Europe, Middle East, and Africa
|
|
9,205
|
|
|
6,160
|
|
||
Asia Pacific and China
|
|
3,731
|
|
|
2,312
|
|
||
Mexico, Central America, and South America
|
|
594
|
|
|
987
|
|
||
Consolidated net revenues
|
|
$
|
36,016
|
|
|
$
|
30,411
|
|
|
|
|
|
|
||||
|
|
Nine months ended December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
|
|
(Unaudited)
|
||||||
Net revenues
|
|
|
|
|
||||
United States and Canada
|
|
$
|
66,057
|
|
|
$
|
53,871
|
|
Europe, Middle East, and Africa
|
|
24,129
|
|
|
13,244
|
|
||
Asia Pacific and China
|
|
8,137
|
|
|
6,709
|
|
||
Mexico, Central America, and South America
|
|
1,041
|
|
|
2,553
|
|
||
Consolidated net revenues
|
|
$
|
99,364
|
|
|
$
|
76,377
|
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
•
|
Ignite™ ("Ignite"), a software platform with targeted media delivery and management capabilities, and
|
•
|
Other recurring and life-cycle products, features, and professional services delivered on the Ignite platform.
|
|
|
Three months ended December 31,
|
|
|
|
Nine months ended December 31,
|
|
|
||||||||||||||
|
|
2019
|
|
2018
|
|
% of Change
|
|
2019
|
|
2018
|
|
% of Change
|
||||||||||
|
|
(in thousands, except per share amounts)
|
|
|
|
(in thousands, except per share amounts)
|
|
|
||||||||||||||
Net revenues
|
|
$
|
36,016
|
|
|
$
|
30,411
|
|
|
18.4
|
%
|
|
$
|
99,364
|
|
|
$
|
76,377
|
|
|
30.1
|
%
|
License fees and revenue share
|
|
21,576
|
|
|
19,195
|
|
|
12.4
|
%
|
|
59,997
|
|
|
50,213
|
|
|
19.5
|
%
|
||||
Other direct costs of revenues
|
|
400
|
|
|
538
|
|
|
(25.7
|
)%
|
|
1,022
|
|
|
1,553
|
|
|
(34.2
|
)%
|
||||
Gross profit
|
|
14,040
|
|
|
10,678
|
|
|
31.5
|
%
|
|
38,345
|
|
|
24,611
|
|
|
55.8
|
%
|
||||
Total operating expenses
|
|
9,908
|
|
|
8,222
|
|
|
20.5
|
%
|
|
28,058
|
|
|
23,100
|
|
|
21.5
|
%
|
||||
Income from operations
|
|
4,132
|
|
|
2,456
|
|
|
68.2
|
%
|
|
10,287
|
|
|
1,511
|
|
|
580.8
|
%
|
||||
Interest income / (expense), net
|
|
59
|
|
|
(194
|
)
|
|
(130.4
|
)%
|
|
118
|
|
|
(648
|
)
|
|
(118.2
|
)%
|
||||
Foreign exchange transaction gain / (loss)
|
|
—
|
|
|
(2
|
)
|
|
(100.0
|
)%
|
|
—
|
|
|
7
|
|
|
(100.0
|
)%
|
||||
Change in fair value of convertible note embedded derivative liability
|
|
—
|
|
|
(1,476
|
)
|
|
(100.0
|
)%
|
|
—
|
|
|
1,096
|
|
|
(100.0
|
)%
|
||||
Change in fair value of warrant liability
|
|
(870
|
)
|
|
(1,651
|
)
|
|
(47.3
|
)%
|
|
(10,601
|
)
|
|
845
|
|
|
(1,354.6
|
)%
|
||||
Loss on extinguishment of debt
|
|
—
|
|
|
(10
|
)
|
|
(100.0
|
)%
|
|
—
|
|
|
(25
|
)
|
|
(100.0
|
)%
|
||||
Other income / (expense)
|
|
(19
|
)
|
|
(43
|
)
|
|
(55.8
|
)%
|
|
455
|
|
|
(169
|
)
|
|
(369.2
|
)%
|
||||
Income / (loss) from continuing operations before income taxes
|
|
3,302
|
|
|
(920
|
)
|
|
(458.9
|
)%
|
|
259
|
|
|
2,617
|
|
|
(90.1
|
)%
|
||||
Income tax provision
|
|
41
|
|
|
216
|
|
|
(81.0
|
)%
|
|
6
|
|
|
157
|
|
|
(96.2
|
)%
|
||||
Income / (loss) from continuing operations, net of taxes
|
|
3,261
|
|
|
(1,136
|
)
|
|
(387.1
|
)%
|
|
253
|
|
|
2,460
|
|
|
(89.7
|
)%
|
||||
Net income / (loss)
|
|
$
|
3,326
|
|
|
$
|
(1,348
|
)
|
|
(346.7
|
)%
|
|
$
|
82
|
|
|
$
|
848
|
|
|
(90.3
|
)%
|
Basic and diluted net income / (loss) per common share
|
|
$
|
0.04
|
|
|
$
|
(0.01
|
)
|
|
(500.0
|
)%
|
|
$
|
—
|
|
|
$
|
0.01
|
|
|
(100.0
|
)%
|
Weighted-average common shares outstanding, basic
|
|
85,876
|
|
|
77,645
|
|
|
10.6
|
%
|
|
83,869
|
|
|
76,977
|
|
|
9.0
|
%
|
||||
Weighted-average common shares outstanding, diluted
|
|
92,472
|
|
|
77,645
|
|
|
19.1
|
%
|
|
89,759
|
|
|
79,371
|
|
|
13.1
|
%
|
|
|
Three months ended December 31,
|
|
|
|
Nine months ended December 31,
|
|
|
||||||||||||||
|
|
2019
|
|
2018
|
|
% of Change
|
|
2019
|
|
2018
|
|
% of Change
|
||||||||||
|
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
Gross margin $
|
|
$
|
14,040
|
|
|
$
|
10,678
|
|
|
31.5
|
%
|
|
$
|
38,345
|
|
|
$
|
24,611
|
|
|
55.8
|
%
|
Gross margin %
|
|
39.0
|
%
|
|
35.1
|
%
|
|
11.1
|
%
|
|
38.6
|
%
|
|
32.2
|
%
|
|
19.9
|
%
|
|
|
Three months ended December 31,
|
|
|
|
Nine months ended December 31,
|
|
|
||||||||||||||
|
|
2019
|
|
2018
|
|
% of Change
|
|
2019
|
|
2018
|
|
% of Change
|
||||||||||
|
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
Product development
|
|
$
|
2,783
|
|
|
$
|
2,428
|
|
|
14.6
|
%
|
|
$
|
8,312
|
|
|
$
|
8,174
|
|
|
1.7
|
%
|
Sales and marketing
|
|
2,815
|
|
|
1,962
|
|
|
43.5
|
%
|
|
7,534
|
|
|
5,711
|
|
|
31.9
|
%
|
||||
General and administrative
|
|
4,310
|
|
|
3,832
|
|
|
12.5
|
%
|
|
12,212
|
|
|
9,215
|
|
|
32.5
|
%
|
||||
Total operating expenses
|
|
$
|
9,908
|
|
|
$
|
8,222
|
|
|
20.5
|
%
|
|
$
|
28,058
|
|
|
$
|
23,100
|
|
|
21.5
|
%
|
|
|
Three months ended December 31,
|
|
|
|
Nine months ended December 31,
|
|
|
||||||||||||||
|
|
2019
|
|
2018
|
|
% of Change
|
|
2019
|
|
2018
|
|
% of Change
|
||||||||||
|
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
Interest income / (expense), net
|
|
$
|
59
|
|
|
$
|
(194
|
)
|
|
(130.4
|
)%
|
|
$
|
118
|
|
|
$
|
(648
|
)
|
|
(118.2
|
)%
|
Foreign exchange transaction gain / (loss)
|
|
—
|
|
|
(2
|
)
|
|
(100.0
|
)%
|
|
—
|
|
|
7
|
|
|
(100.0
|
)%
|
||||
Change in fair value of convertible note embedded derivative liability
|
|
—
|
|
|
(1,476
|
)
|
|
(100.0
|
)%
|
|
—
|
|
|
1,096
|
|
|
(100.0
|
)%
|
||||
Change in fair value of warrant liability
|
|
(870
|
)
|
|
(1,651
|
)
|
|
(47.3
|
)%
|
|
(10,601
|
)
|
|
845
|
|
|
(1,354.6
|
)%
|
||||
Loss on extinguishment of debt
|
|
—
|
|
|
(10
|
)
|
|
(100.0
|
)%
|
|
—
|
|
|
(25
|
)
|
|
(100.0
|
)%
|
||||
Other income / (expense)
|
|
(19
|
)
|
|
(43
|
)
|
|
(55.8
|
)%
|
|
455
|
|
|
(169
|
)
|
|
(369.2
|
)%
|
||||
Total interest and other income / (expense), net
|
|
$
|
(830
|
)
|
|
$
|
(3,376
|
)
|
|
(75.4
|
)%
|
|
$
|
(10,028
|
)
|
|
$
|
1,106
|
|
|
(1,006.7
|
)%
|
|
|
Nine months ended December 31,
|
|
|
|||||||
|
|
2019
|
|
2018
|
|
% of Change
|
|||||
|
|
(in thousands)
|
|
|
|||||||
Consolidated statements of cash flows data:
|
|
|
|
|
|
|
|||||
Net cash provided by operating activities - continuing operations
|
|
$
|
20,155
|
|
|
$
|
2,529
|
|
|
697.0
|
%
|
Capital expenditures
|
|
(3,179
|
)
|
|
(1,781
|
)
|
|
(78.5
|
)%
|
||
Options and warrants exercised
|
|
6,353
|
|
|
223
|
|
|
2,748.9
|
%
|
||
Repayment of debt obligations
|
|
—
|
|
|
(50
|
)
|
|
100.0
|
%
|
||
Effect of exchange rate changes on cash
|
|
(364
|
)
|
|
(5
|
)
|
|
(7,180.0
|
)%
|
|
|
Payments Due by Period
|
||||||||||||||||||
|
|
Total
|
|
Within the Next 12 Months
|
|
2 to 3 Years
|
|
4 to 5 Years
|
|
More Than 5 Years
|
||||||||||
Contractual cash obligations
|
|
(in thousands)
|
||||||||||||||||||
Operating leases (a)
|
|
$
|
4,011
|
|
|
$
|
948
|
|
|
$
|
1,816
|
|
|
$
|
1,247
|
|
|
$
|
—
|
|
Interest and bank fees
|
|
41
|
|
|
41
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Uncertain tax positions (b)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Total contractual cash obligations
|
|
$
|
4,052
|
|
|
$
|
989
|
|
|
$
|
1,816
|
|
|
$
|
1,247
|
|
|
$
|
—
|
|
•
|
failure to successfully expand relationships with carriers, OEMs, and other partners and customers;
|
•
|
failure to successfully take advantage of revenue growth opportunities;
|
•
|
failure to effectively coordinate sales and marketing efforts to communicate the capabilities of the complementary offerings;
|
•
|
potential difficulties integrating and harmonizing operations and other key functions;
|
•
|
the loss of key employees; and
|
•
|
failure to combine product offerings quickly and effectively.
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
101
|
|
INS XBRL Instance Document.*
|
|
|
|
101
|
|
SCH XBRL Schema Document.*
|
|
|
|
101
|
|
CAL XBRL Taxonomy Extension Calculation Linkbase Document.*
|
|
|
|
101
|
|
DEF XBRL Taxonomy Extension Definition Linkbase Document.*
|
|
|
|
101
|
|
LAB XBRL Taxonomy Extension Label Linkbase Document.*
|
|
|
|
101
|
|
PRE XBRL Taxonomy Extension Presentation Linkbase Document.*
|
*
|
Filed herewith.
|
+
|
In accordance with SEC Release No. 33-8212, these exhibits are being furnished, and are not being filed, as part of the Report on Form 10-Q or as a separate disclosure document, and are not being incorporated by reference into any Securities Act registration statement.
|
|
|
Digital Turbine, Inc.
|
||
Dated: February 10, 2020
|
|
|
||
|
|
By:
|
|
/s/ William Stone
|
|
|
|
|
William Stone
|
|
|
|
|
Chief Executive Officer
|
|
|
|
|
(Principal Executive Officer)
|
|
|
Digital Turbine, Inc.
|
||
Dated: February 10, 2020
|
|
|
||
|
|
By:
|
|
/s/ Barrett Garrison
|
|
|
|
|
Barrett Garrison
|
|
|
|
|
Chief Financial Officer
|
|
|
|
|
(Principal Financial Officer)
|
1 Year Digital Turbine Chart |
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