Estados financieros detallados de Digital Turbine, Inc. (APPS): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Digital Turbine, Inc. registró ingresos de $565.3M en el último ejercicio fiscal, con un CAGR de 5 años del -5.4%.
Márgenes de los últimos 12 meses: margen bruto 49.1%, margen operativo 10.3%, margen neto -4.5%. El flujo de caja libre creció a un CAGR del -26.9% en 5 años.
Al precio actual de $10.84, APPS presenta beneficios negativos (P/E no significativo) y un ROE del -14.77%. La capitalización bursátil es de $1.3B.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $91.6M | $74.8M | $103.6M | $138.7M | $747.6M | $747.6M | $665.9M | $544.5M | $490.5M | $565.3M |
| Coste de Ventas | $78.2M | $49.7M | $68.0M | $85.0M | $400.5M | $400.5M | $345.7M | $297.0M | $269.8M | $290.6M |
| Beneficio Bruto | $13.4M | $25.1M | $35.6M | $53.7M | $347.1M | $347.1M | $320.2M | $247.5M | $220.7M | $274.6M |
| I+D | $12.0M | $9.7M | $11.1M | $12.0M | $52.7M | $52.7M | $56.5M | $54.2M | $39.5M | $40.5M |
| Generales y Administrativos | $23.3M | $21.2M | $21.0M | $28.4M | $202.1M | $202.1M | $217.6M | $231.1M | $235.3M | $200.1M |
| Gastos Operativos | $35.4M | $30.9M | $32.1M | $40.5M | $254.9M | $254.9M | $274.1M | $621.9M | $274.8M | $240.6M |
| Beneficio Operativo | -$22.0M | -$5.8M | $3.4M | $13.2M | $92.2M | $92.2M | $46.2M | -$374.4M | -$54.1M | $34.0M |
| EBITDA | -$14.1M | -$3.1M | $6.2M | $15.6M | $149.7M | $101.4M | $103.1M | $46.1M | $29.8M | $40.1M |
| Gastos por Intereses | $2.6M | $2.1M | $1.1M | 0 | $1.0M | $8.5M | $23.4M | 0 | $34.8M | $58.6M |
| Beneficio Antes de Impuestos | -$24.4M | -$20.6M | -$3.8M | $3.9M | $44.0M | $44.0M | $22.0M | -$405.1M | -$87.9M | -$31.3M |
| Impuestos | -$144000 | -$951000 | $469000 | -$10.4M | $8.4M | $8.4M | $5.1M | $15.3M | $4.2M | $6.4M |
| Beneficio Neto | -$24.3M | -$52.9M | -$6.0M | $13.9M | $35.5M | $35.5M | $16.7M | -$420.2M | -$92.1M | -$37.7M |
| BPA | $-0.36 | $-0.75 | $-0.08 | $0.17 | $0.37 | $0.37 | $0.17 | $-4.16 | $-0.89 | $-0.33 |
| BPA Diluido | $-0.36 | $-0.75 | $-0.08 | $0.16 | $0.35 | $0.35 | $0.16 | $-4.16 | $-0.89 | $-0.33 |
| Acciones en Circulación (Diluidas) | $66.5M | $70.3M | $77.4M | $89.6M | $102.6M | $102.6M | $101.8M | $101.0M | $103.7M | $112.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $130.9M | $151.4M | $152.0M | $166.0M |
| Beneficio Bruto | $62.0M | $139.2M | $11.5M | $82.0M |
| Beneficio Operativo | -$4.7M | $21.7M | $21.7M | $23.1M |
| EBITDA | $15.9M | $42.5M | -$21.5M | $50.9M |
| Beneficio Neto | -$14.1M | $5.1M | -$14.6M | -$3.2M |
| BPA | $-0.13 | $0.04 | $-0.11 | $-0.03 |
| BPA Diluido | $-0.13 | $0.04 | $-0.11 | $-0.03 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $6.5M | $13.1M | $11.1M | $21.7M | $31.1M | $127.2M | $75.6M | $33.6M | $40.1M | $38.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $10.7M | $17.1M | $22.7M | $33.1M | $62.0M | $263.1M | $178.2M | $191.0M | $190.1M | $251.2M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $23.7M | $39.8M | $37.1M | $58.4M | $97.4M | $410.9M | $266.1M | $242.3M | $242.8M | $311.9M |
| Inmovilizado Material | $2.0M | $2.8M | $3.4M | $12.4M | $16.5M | $46.5M | $49.4M | $54.9M | $56.9M | $49.1M |
| Fondo de Comercio | $42.3M | $42.3M | $42.3M | $69.3M | $80.2M | $559.8M | $561.6M | $220.1M | $221.7M | $223.1M |
| Activos Intangibles | $2.6M | $1.2M | 0 | $43.9M | $53.3M | $440.6M | $379.6M | $313.5M | $257.7M | $217.4M |
| Activos Totales | $107.6M | $86.6M | $82.9M | $184.0M | $260.4M | $1.46B | $1.27B | $865.5M | $812.9M | $841.7M |
| Cuentas por Pagar | $11.8M | $19.9M | $14.9M | $31.6M | $35.0M | $167.9M | $119.3M | $159.2M | $139.9M | $132.8M |
| Deuda a Corto | 0 | $1.4M | 0 | $2.6M | $16.1M | $17.0M | $4.0M | 0 | $3.4M | $7.0M |
| Pasivos Corrientes | $30.8M | $46.4M | $38.3M | $82.8M | $111.1M | $385.3M | $220.9M | $236.0M | $222.5M | $268.3M |
| Deuda a Largo | $12.9M | $8.5M | 0 | $18.5M | 0 | $520.8M | $410.5M | $383.5M | $408.7M | $353.9M |
| Pasivos Totales | $45.5M | $58.9M | $46.5M | $106.6M | $115.3M | $942.3M | $659.3M | $651.6M | $658.9M | $649.5M |
| Reservas | -$237.3M | -$290.1M | -$296.1M | -$282.2M | -$227.3M | -$191.8M | -$175.1M | -$595.3M | -$687.4M | -$725.2M |
| Patrimonio Neto | $62.0M | $27.7M | $36.4M | $77.5M | $145.1M | $514.6M | $605.2M | $213.9M | $154.0M | $192.2M |
| Deuda Total | $12.9M | $10.0M | 0 | $21.1M | $16.1M | $537.8M | $421.1M | $389.7M | $418.2M | $368.9M |
| Deuda Neta | $6.4M | -$3.1M | -$11.1M | -$576000 | -$15.1M | $410.7M | $345.5M | $356.1M | $378.1M | $330.9M |
| Capital Circulante | -$7.1M | -$6.7M | -$1.2M | -$24.4M | -$13.8M | $25.6M | $45.1M | $6.3M | $20.3M | $43.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $39.3M | $40.4M | $38.0M | $43.2M |
| Activos Totales | $818.7M | $858.2M | $841.7M | $843.5M |
| Pasivos Totales | $670.5M | $663.6M | $649.5M | $652.9M |
| Patrimonio Neto | $148.1M | $194.6M | $192.2M | $190.6M |
| Deuda Total | $404.9M | $367.1M | $368.9M | $352.9M |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | -$19.1M | -$19.7M | -$4.3M | $14.3M | $54.9M | $16.9M | -$420.4M | -$92.1M | -$92.1M | -$37.7M |
| Amortizaciones | $2.6M | $2.7M | $2.8M | $2.3M | $7.1M | $81.1M | $83.9M | $82.9M | $82.9M | $71.5M |
| Compensación en Acciones | $3.8M | $3.0M | $2.5M | $3.4M | 0 | $30.4M | $33.8M | $33.5M | $33.5M | $16.4M |
| Cambio en Capital Circulante | -$170000 | $7.8M | -$3.1M | $4.1M | $6.1M | -$17.7M | -$17.9M | -$15.2M | -$15.2M | -$38.4M |
| Flujo de Caja Operativo | -$6.7M | $7.0M | $1.3M | $31.4M | $62.8M | $113.4M | $28.7M | $11.9M | $11.9M | $41.8M |
| Inversiones (CapEx) | -$1.4M | -$2.0M | -$2.3M | -$4.8M | -$9.2M | -$23.9M | -$24.3M | -$27.5M | -$27.5M | -$30.6M |
| Adquisiciones | 0 | 0 | 0 | -$41.9M | -$28.6M | -$11.2M | -$19.6M | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$873000 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$8.1M | $5.0M | -$1.0M | $26.5M | $53.6M | $89.5M | $4.4M | -$15.6M | -$15.6M | $11.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $11.5M | $14.2M | $7.3M | $17.9M |
| Inversiones (CapEx) | -$6.9M | -$7.8M | -$8.3M | -$6.7M |
| Flujo de Caja Libre | $4.6M | $6.4M | -$940000 | $11.2M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $8.1M | -$2.2M | $4.1M | $2.4M |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | -18.4% | +38.6% | +33.9% | +438.9% | +0.0% | -10.9% | -18.2% | -9.9% | +15.2% |
| Crecimiento Beneficio Neto (anual) | | -117.8% | +88.6% | +331.3% | +155.7% | +0.0% | -53.1% | -2620.4% | +78.1% | +59.0% |
| Crecimiento BPA (anual) | | -108.3% | +89.7% | +319.1% | +117.6% | +0.0% | -54.1% | -2547.1% | +78.6% | +62.9% |
| Cambio en Acciones (anual) | | +5.6% | +10.2% | +15.6% | +14.6% | +0.0% | -0.8% | -0.8% | +2.7% | +8.8% |
| Crecimiento FCF (anual) | | +161.5% | -121.0% | +2638.9% | +102.0% | +67.0% | -95.1% | -454.6% | +0.0% | +171.7% |
| Margen Bruto | 14.6% | 33.5% | 34.3% | 38.7% | 46.4% | 46.4% | 48.1% | 45.4% | 45.0% | 48.6% |
| Margen Operativo | -24.1% | -7.8% | 3.3% | 9.5% | 12.3% | 12.3% | 6.9% | -68.8% | -11.0% | 6.0% |
| Margen EBITDA | -15.3% | -4.2% | 6.0% | 11.2% | 20.0% | 13.6% | 15.5% | 8.5% | 6.1% | 7.1% |
| Margen Neto | -26.5% | -70.7% | -5.8% | 10.0% | 4.8% | 4.8% | 2.5% | -77.2% | -18.8% | -6.7% |
| Margen FCF | -8.8% | 6.7% | -1.0% | 19.1% | 7.2% | 12.0% | 0.7% | -2.9% | -3.2% | 2.0% |
| Tasa Impositiva Efectiva | 0.6% | 4.6% | -12.2% | -265.7% | 19.1% | 19.1% | 23.4% | -3.8% | -4.8% | -20.4% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $-0.12 | $0.07 | $-0.01 | $0.30 | $0.52 | $0.87 | $0.04 | $-0.15 | $-0.15 | $0.10 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $66.5M | $70.3M | $77.4M | $84.6M | $95.2M | $95.2M | $98.8M | $101.0M | $103.7M | $112.9M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -14.77% |
| Rentabilidad sobre capital invertido | 10.72% |
| Rentabilidad sobre activos | -3.18% |
| Margen bruto | 49.08% |
| Margen operativo | 10.29% |
| Margen neto | -4.46% |
Salud financiera
| Deuda / Patrimonio | 1.85 |
| Ratio corriente | 1.20 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | -2.61 | -2.68 | -45.88 | 25.35 | 217.19 | 118.41 | 72.71 | -0.58 | -3.06 | -8.73 |
| P/VC | 1.01 | 5.10 | 7.58 | 4.71 | 52.72 | 8.11 | 2.02 | 1.14 | 1.83 | 1.69 |
| P/V | 0.68 | 1.89 | 2.66 | 2.63 | 10.23 | 5.58 | 1.83 | 0.45 | 0.58 | 0.58 |
| Margen Bruto | 14.6% | 33.5% | 34.3% | 38.7% | 46.4% | 46.4% | 48.1% | 45.4% | 45.0% | 48.6% |
| Margen Operativo | -24.1% | -7.8% | 3.3% | 9.5% | 12.3% | 12.3% | 6.9% | -68.8% | -11.0% | 6.0% |
| Margen Neto | -26.5% | -70.7% | -5.8% | 10.0% | 4.8% | 4.8% | 2.5% | -77.2% | -18.8% | -6.7% |