Digital Turbine, Inc.
APPS Technology Software Application
Digital Turbine, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $565.3 million, up 15.2% from fiscal 2025. In the quarter to June 2026, revenue grew 26.8%, EPS grew 27.8%, free cash flow grew 1,255.0% and total debt fell 11.9%, each against the same quarter a year earlier.
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Digital Turbine, Inc. (APPS) Altman Z-score
Digital Turbine, Inc.'s Altman Z-score for fiscal 2026 is −0.04, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | −0.04 | 0.47 |
| FY2025 | −0.51 | 1.00 |
| FY2024 | −1.51 | (3.12) |
| FY2023 | 1.61 | (1.61) |
| FY2022 | 3.21 | (34.48) |
| FY2021 | 37.70 | 36.96 |
| FY2020 | 0.74 | 0.87 |
| FY2019 | −0.14 | 2.57 |
| FY2018 | −2.70 | (0.21) |
| FY2017 | −2.49 | (0.64) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.05 | — | 0.06 | |
| Retained earnings / total assets | (0.86) | — | −1.21 | |
| EBIT / total assets | 0.04 | — | 0.13 | |
| Market value of equity / total liabilities | 0.50 | — | 0.30 | |
| Sales / total assets | 0.67 | — | 0.67 | |
| Altman Z-score | Distress zone | −0.04 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.89 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| RDVT Red Violet, Inc. compare | 45.1× |
| WRD WeRide Inc. compare | 9.9× |
| DFIN Donnelley Financial Solutions compare | 4.4× |
| RSKD Riskified Ltd. compare | 3.8× |
| IBTA Ibotta, Inc. compare | 2.4× |
| CXM Sprinklr, Inc. compare | 1.8× |
| PD PagerDuty compare | 1.1× |
| GTM ZoomInfo Technologies Inc. compare | 0.8× |
| APPS Digital Turbine, Inc. | 0.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets