Prepared Highlights
- Total revenue: $151.4M, +12% YoY (prepared).
- On-Device Solutions (ODS) revenue: ~$100M (exact $99.6M), +9% YoY; international ODS grew >60% YoY, with >20% increase in both devices and revenue per device (CEO), (CFO).
- App Growth Platform (AGP) revenue: $52.6M, +19% YoY; Brand business strong, DTX/SSP business grew >30% (CEO), (CFO).
- Adjusted EBITDA: $38.8M, +76% YoY; EBITDA margin 26% (seventh consecutive quarter of expansion, +900 bps YoY) (CFO). Includes ~$3.5M one-time benefits (sublease settlement, working capital) (CFO).
- Non-GAAP gross margin: 49%, vs 44% prior year (CFO).
- Cash operating expenses: $36M, -4% YoY (CFO).
- Free cash flow: $6.4M (CFO).
- GAAP net income: $5.1M, $0.03 per share; non-GAAP net income $21.7M, $0.18 per share on 120M shares (CFO).
- Balance sheet: Cash $40M (+$1M vs Sep); total debt net $355M (down >$41M in quarter); debt leverage ratio ~3x (down from >5x a year ago) (CEO), (CFO).
- ATM program: Sold 6.8M shares at avg $6.54, gross proceeds $44.6M; program terminated (CFO).
- Devices: Overall devices +20% YoY driven by international; AGP supply impressions +20% YoY (CEO).
- Retail vertical: 5x growth vs last holiday season (CEO).
- Alternative app distribution: Three largest global mobile game developers signed in December using single-tap capabilities (CEO).
Official guidance (FY2026 full-year, raised):
- Revenue: $553M–$558M (midpoint +$10M vs prior outlook) (CFO).
- Adjusted EBITDA: $114M–$117M (midpoint +$13M vs prior outlook) (CFO).
Mgmt quotes:
- “Our December quarter showcased accelerating business momentum across both our on-device solutions and app growth platform segments.” (CEO)
- “Revenue for the quarter came in at $151.4 million, representing 12% year-over-year growth. We also achieved $39 million in quarterly EBITDA, that was 76% year-over-year growth with EBITDA margins of 26%.” (CEO)
- “Our debt leverage ratio now stands at roughly three turns down from more than five turns just a year ago.” (CEO)
- “We are pleased with the progress we have made to our balance sheet in recent months. To that end, we made the decision to terminate our existing at-the-market equity program.” (CFO)
- “Following the stronger-than-expected December performance, and with improved visibility into the current March, we are once again raising our full-year revenue and adjusted EBITDA guide.” (CFO)
Prepared Metrics
| Metric | Value | Speaker/Context |
|---|
| Total Revenue | $151.4M, +12% YoY | (prepared) |
| ODS Revenue | $99.6M, +9% YoY | (CFO) |
| AGP Revenue | $52.6M, +19% YoY | (CFO) |
| Adjusted EBITDA | $38.8M, +76% YoY | (CFO) |
| EBITDA Margin | 26% | (CFO) |
| Non-GAAP Gross Margin | 49% | (CFO) |
| Cash Operating Expenses | $36M, -4% YoY | (CFO) |
| Free Cash Flow | $6.4M | (CFO) |
| GAAP Net Income | $5.1M, $0.03 per share | (CFO) |
| Non-GAAP Net Income | $21.7M, $0.18 per share | (CFO) |
| Cash Balance | $40M | (CFO) |
| Total Debt (net) | $355M | (CFO) |
| Debt Leverage Ratio | ~3x | (CEO) |
| ATM Shares Sold | 6.8M shares at avg $6.54 | (CFO) |
| FY2026 Revenue Guidance | $553M–$558M | (CFO) |
| FY2026 Adjusted EBITDA Guidance | $114M–$117M | (CFO) |
Q&A Batch (1–2 of 2)
Q1 — Anthony Joseph Stoss
- Topic: App-install flywheel, Google Gemini impact, Single Tap rollout
- Key points:
- 公司拥有超过80,000个应用的SDK，能整合广告主预算到用户获取（自有DSP+设备业务），形成收入与利润率增长的飞轮。
- 针对Google Gemini：公司已从纯游戏库存多样化到非游戏，Gemini将带来更多游戏，需要分发服务，公司视其为净正面。
- 三大全球游戏公司已于12月签约Single Tap，目前已上线并产生收入；功能包括替代应用分发的自有计费以及“双下载”（应用+配套商店）。
- Mgmt stance: 强烈乐观（对飞轮引擎、AI驱动的营收增长和后台效率、Single Tap落地均积极评价）
Q2 — Arthur Chu
- Topic: Meta重返iOS非IDFA流量竞价、竞争格局
- Key points:
- 12月整体市场增长中高个位数（mid-to-high single digits），而公司AGP业务增长20%，增速为市场2倍。
- 公司更专注于Android（基于独特on-device优势），未对Meta具体行为做出评论。
- Mgmt stance: 中性（未评论Meta，强调自身夺取市场份额并在Android优势中胜出）