Segment Information

9 Months Ended

Dec. 31, 2025

Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”) in making decisions regarding resource allocation and assessing performance. The Company has determined that its Chief Executive Officer is the CODM. The Company reports its results of operations through the following two segments, each of which represents an operating and reportable segment, as follows:

•On Device Solutions (“ODS”) - This segment generates revenue from the delivery of mobile application media or content to end users with solutions for all participants in the mobile application ecosystem that want to connect with end users and consumers who hold the device. This includes mobile carriers and device OEMs that participate in the app economy, app publishers and developers, and brands and advertising agencies. This segment's product offerings are enabled through relationships with mobile device carriers and OEMs.

•App Growth Platform (“AGP”) - AGP customers are primarily advertisers and publishers, and the segment provides platforms that allow mobile app publishers and developers to monetize their monthly active users via display, native, and video advertising. The AGP platforms allow demand side platforms, advertisers, agencies, and publishers to buy and sell digital ad impressions, primarily through programmatic, real-time bidding auctions and, in some cases, through direct-bought/sold advertiser budgets. The segment also provides brand and performance advertising products to advertisers and agencies.

The Company’s CODM evaluates the performance of the segments and makes resource allocation decisions based on segment net revenue and segment profit. The Company’s CODM regularly reviews the revenue share by segment and treats it as a significant segment expense.

Segment net revenue and revenue share are exclusive of certain activities and expenses that are not allocated to specific segments and are reported on a consolidated basis. In addition, operating expenses are evaluated on a consolidated basis and are not disaggregated or analyzed by segment within the Company’s internal reporting, as shown in the reconciling table below.

A summary of segment information follows:


	Three months ended December 31, 2025
	ODS		AGP		Eliminations		Consolidated
Net revenue	$	99,556	$	52,616	$	(773)	$	151,399
Revenue share	53,523		11,675		(773)		64,425
Segment profit	$	46,033	$	40,941	$	—	$	86,974


	Three months ended December 31, 2024
	ODS		AGP		Eliminations		Consolidated
Net revenue	$	91,736	$	44,241	$	(1,340)	$	134,637
Revenue share	61,112		10,175		(1,340)		69,947
Segment profit	$	30,624	$	34,066	$	—	$	64,690


	Nine months ended December 31, 2025
	ODS		AGP		Eliminations		Consolidated
Net revenue	$	291,468	$	133,593	$	(2,359)	$	422,702
Revenue share	161,779		26,236		(2,359)		185,656
Segment profit	$	129,689	$	107,357	$	—	$	237,046


	Nine months ended December 31, 2024
	ODS		AGP		Eliminations		Consolidated
Net revenue	$	254,800	$	119,979	$	(3,425)	$	371,354
Revenue share	159,206		26,311		(3,425)		182,092
Segment profit	$	95,594	$	93,668	$	—	$	189,262


	Three months ended December 31,				Nine months ended December 31,
	2025		2024		2025		2024
Segment profit	$	86,974	$	64,690	$	237,046	$	189,262
Other direct costs of revenue	12,205		8,954		34,251		25,182
Product development	9,892		10,203		31,018		30,350
Sales and marketing	14,326		15,494		42,361		47,628
General and administrative	28,897		42,792		105,889		128,485

Income (loss) from operations	$	21,654	$	(12,753)	$	23,527	$	(42,383)

The reporting package provided to the Company’s CODM does not include the measure of assets by segment, as that information is not reviewed by the CODM when assessing segment performance or allocating resources.

Geographic Area Information

Long-lived assets, excluding deferred tax assets, by region follow:


	December 31, 2025		March 31, 2025
United States and Canada	$	45,585	$	40,149
Europe, Middle East, and Africa	3,349		6,751
Asia Pacific and China	50		66

Consolidated property and equipment, net	$	48,984	$	46,966


	December 31, 2025		March 31, 2025
United States and Canada	$	1,438	$	2,030
Europe, Middle East, and Africa	6,139		7,877
Asia Pacific and China	—		17

Consolidated right-of-use assets	$	7,577	$	9,924


	December 31, 2025		March 31, 2025
United States and Canada	$	94,121	$	108,580
Europe, Middle East, and Africa	129,120		145,253
Asia Pacific and China	3,720		3,864

Consolidated intangible assets, net	$	226,961	$	257,697

Net revenue by geography is based on the billing addresses of the Company’s customers and a reconciliation of disaggregated revenue by segment follows:


	Three months ended December 31, 2025
	ODS		AGP		Total
United States and Canada	$	34,114	$	28,685	$	62,799
Europe, Middle East, and Africa	31,256		12,495		43,751
Asia Pacific and China	33,342		11,436		44,778
Mexico, Central America, and South America	844		—		844
Elimination	—		—		(773)
Consolidated net revenue	$	99,556	$	52,616	$	151,399


	Three months ended December 31, 2024
	ODS		AGP		Total
United States and Canada	$	36,089	$	27,819	$	63,908
Europe, Middle East, and Africa	32,272		10,870		43,142
Asia Pacific and China	22,081		5,548		27,629
Mexico, Central America, and South America	1,294		4		1,298
Elimination	—		—		(1,340)
Consolidated net revenue	$	91,736	$	44,241	$	134,637


	Nine months ended December 31, 2025
	ODS		AGP		Total
United States and Canada	$	105,517	$	68,176	$	173,693
Europe, Middle East, and Africa	86,921		35,494		122,415
Asia Pacific and China	95,976		29,757		125,733
Mexico, Central America, and South America	3,054		166		3,220
Elimination	—		—		(2,359)
Consolidated net revenue	$	291,468	$	133,593	$	422,702


	Nine months ended December 31, 2024
	ODS		AGP		Total
United States and Canada	$	103,638	$	75,965	$	179,603
Europe, Middle East, and Africa	92,822		31,418		124,240
Asia Pacific and China	55,341		12,577		67,918
Mexico, Central America, and South America	2,999		19		3,018
Elimination	—		—		(3,425)
Consolidated net revenue	$	254,800	$	119,979	$	371,354

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Digital Turbine, Inc. 10-Q