Digital Turbine Inc ( APPS ) shares are moving lower Wednesday after the company reported financial results for the fourth quarter of fiscal-year 2024.

What Happened: Digital Turbine ( APPS ) reported fourth-quarter revenue of $112.22 million, which missed estimates of $117.69 million, per Benzinga Pro. The company reported earnings of 12 cents per share, which beat analyst estimates of 7 cents per share.

Total On Device Solutions revenue before intercompany eliminations was $78.5 million, while total App Growth Platform revenue before intercompany eliminations came in at $34.4 million.

The mobile growth platform company reported adjusted EBITDA of $12.3 million, down from $23.1 million in the fourth quarter of 2023. Digital Turbine ( APPS ) noted that new partnerships are set to add more than 70 million new devices globally.

"We are seeing encouraging real-time momentum in the marketplace that we believe validates our strategy and positions the Company for a return to growth in the new fiscal year," said Bill Stone, CEO of Digital Turbine ( APPS ). 

"We have recently secured additional global device supply that we believe will help to offset recent headwinds as a result of decade-low upgrade rates and selective app distribution limitations in the U.S."

Digital Turbine ( APPS ) expected fiscal-year 2025 revenue to be between $540 million and $560 million versus estimates of $553.18 million, according to Benzinga Pro. The company anticipates full-year adjusted EBITDA of $85 million to $95 million.

Following the company’s quarterly results, Roth MKM analyst Darren Aftahi maintained Digital Turbine ( APPS ) with a Neutral rating and lowered the price target from $3 to $2.50.

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APPS Price Action: Digital Turbine ( APPS ) shares were down 12.5% at $1.96 at the time of writing, according to Benzinga Pro.