Digital Turbine Inc (APPS) 2026 Q2 法說會逐字稿

Good afternoon, and welcome to the Digital Turbine fiscal 2026 second-quarter financial results conference call. (Operator Instructions) Please note this event is being recorded.

下午好，歡迎參加 Digital Turbine 2026 財年第二季財務業績電話會議。（操作說明）請注意，本次活動正在錄影。

I would now like to turn the conference over to Brian Bartholomew, Senior Vice President of Capital Markets. Please go ahead.

現在我將把會議交給資本市場高級副總裁布萊恩·巴塞洛繆。請繼續。

Thank you. Good afternoon, and welcome to the Digital Turbine fiscal 2026 second-quarter earnings conference call.

謝謝。下午好，歡迎參加 Digital Turbine 2026 財年第二季財報電話會議。

Joining me today on the call to discuss our results are CEO, Bill Stone; and CFO, Steve Lasher. Before we get started, I would like to take this opportunity to remind you that our remarks today will include forward-looking statements. These forward-looking statements are based on our current assumptions, expectations and beliefs, including projected operating metrics, future products and services, anticipated market demand and other forward-looking topics.

今天與我一起參加電話會議討論我們業績的有首席執行官比爾·斯通和首席財務官史蒂夫·拉舍爾。在正式開始之前，我想藉此機會提醒各位，我們今天的發言將包含一些前瞻性陳述。這些前瞻性聲明是基於我們目前的假設、預期和信念，包括預期的營運指標、未來產品和服務、預期的市場需求和其他前瞻性主題。

Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will inevitably prove to be incorrect. Except as required by law, we undertake no obligation to update any forward-looking statements. For a discussion of the risk factors that could cause our actual results to differ materially from those contemplated by our forward-looking statements, please refer to the documents we file with the Securities and Exchange Commission.

雖然我們認為我們的假設是合理的，但它們並不能保證未來的業績，而且有些假設必然會被證明是錯誤的。除法律要求外，我們不承擔更新任何前瞻性聲明的義務。有關可能導致我們的實際業績與前瞻性聲明中所設想的業績存在重大差異的風險因素的討論，請參閱我們向美國證券交易委員會提交的文件。

Also during this call, we will discuss certain non-GAAP measures of our performance. Non-GAAP measures are not substitutes for GAAP measures. Please refer to today's press release for important information about the limitations of using non-GAAP measures as well as reconciliations of these non-GAAP financial results to the most comparable GAAP measures.

此外，在本次電話會議中，我們還將討論我們績效的某些非GAAP指標。非GAAP指標不能取代GAAP指標。請參閱今天的新聞稿，以了解有關使用非GAAP指標的局限性以及這些非GAAP財務結果與最可比較GAAP指標的調節的重要資訊。

Now I'd like to turn the call over to our CEO, Mr. Bill Stone.

現在我想把電話交給我們的執行長比爾·斯通先生。

Thanks, Brian. Thanks, everyone, for joining our call tonight. Our September quarter showcased accelerating business momentum across both our On Device Solutions and App Growth Platform segments.

謝謝你，布萊恩。感謝各位今晚參加我們的電話會議。我們九月份的季度業績顯示，無論是在設備端解決方案還是應用成長平台領域，業務發展動能都顯著增強。

Strong demand for our platform, combined with disciplined operational execution, drove top and bottom line results that exceeded expectations. Revenue for the quarter came in at $140.4 million, representing 18% year-over-year growth. We also achieved 78% year-over-year growth in adjusted EBITDA, demonstrating significant operating leverage in our model as we scale.

市場對我們平台的強勁需求，加上嚴謹的營運執行，推動了營收和利潤的雙雙超乎預期。該季度營收為 1.404 億美元，年增 18%。調整後 EBITDA 也實現了 78% 的同比增長，這表明隨著我們規模的擴大，我們的模式具有顯著的營運槓桿效應。

We continue to execute against our strategy of connecting app developers, operators and OEMs in a mobile-first world. The combination of our installed base, monetization capabilities and growing partner network uniquely positions Digital Turbine to capture a meaningful share of the $1 trillion, $0.5 trillion market opportunity in front of us.

我們將繼續執行我們的策略，在行動優先的世界中連接應用程式開發者、營運商和原始設備製造商。憑藉我們龐大的用戶基礎、獲利能力和不斷增長的合作夥伴網絡，Digital Turbine 擁有獨特的優勢，能夠抓住擺在我們面前的 1 兆美元、0.5 兆美元市場機會中的重要份額。

Also in September, we successfully completed our debt refinancing through a new four-year term loan facility, providing additional flexibility and a stronger balance sheet to support growth initiatives.

同樣在 9 月份，我們透過一項新的四年期定期貸款安排成功完成了債務再融資，從而提供了更大的靈活性和更強勁的資產負債表，以支持成長計畫。

Breaking our results down by segment. Our On Device Solutions business generated $96 million in revenue, up approximately 17% from the September quarter last year. In particular, it was encouraging to see 10% growth in both Global Devices and revenue per device year over year, with the bright spot continues to be our international ODS business, which drove 80% year-over-year revenue growth.

按細分市場分析我們的結果。我們的設備端解決方案業務創造了 9,600 萬美元的收入，比去年 9 月季度成長了約 17%。尤其令人鼓舞的是，全球設備數量和每台設備的收入均同比增長了 10%，其中最亮眼的還是我們的國際 ODS 業務，該業務推動了收入同比增長 80%。

And we also achieved a nice milestone in the quarter as for the first time in our history, our international revenues exceeded 25% of our total ODS revenues. Our application growth platform business was another bright spot for the quarter and returned to year-over-year growth posted $45 million in revenue, which was up 20% year over year.

本季我們也取得了一個不錯的里程碑式成就，因為公司歷史上首次，國際收入超過了 ODS 總收入的 25%。我們的應用程式成長平台業務是本季的另一個亮點，恢復了年成長，營收達到 4,500 萬美元，較去年同期成長 20%。

In particular, I was pleased with the over 40% sequential improvement in our brand business and also a double-digit increase in our DTX or SSP business. The hard work we did over the past few years to stay the course and integrate the legacy tech stacks into a common platform is now paying dividends, and we expect the momentum to continue into the future.

尤其令我滿意的是，我們的品牌業務環比成長超過 40%，DTX 或 SSP 業務也實現了兩位數的成長。過去幾年，我們為堅持既定路線，將傳統技術堆疊整合到通用平台而付出了辛勤努力，現在這些努力正在獲得回報，我們預計這種勢頭將在未來繼續下去。

Three key drivers powered our improved performance this quarter. First was higher advertiser demand, which translated into improved pricing and fill rates, particularly for premium placements on our platform. This strong advertiser demand resulted in over 30% year-over-year growth in revenue per device in both the US and international markets for On Device business.

本季業績提升主要得益於三大關鍵因素。首先是廣告主需求增加，轉化為價格和填充率的提高，尤其是我們平台上的優質廣告位。廣告商的強勁需求使得美國和國際市場的設備內業務的單設備收入年增超過 30%。

The second driver was increased supply. Our global devices grew year over year driven by strong volumes from our international partners. In addition, our AGP supply volumes increased impressions by nearly 30% year over year driven by expansion of our distribution of our SDK footprint, strong performance in our APAC region and strong increases in non-gaming inventory.

第二個驅動因素是供應增加。由於國際合作夥伴的強勁需求，我們的全球設備銷售量逐年成長。此外，由於我們擴大了 SDK 的分銷範圍、在亞太地區的強勁表現以及非遊戲廣告庫存的大幅增長，我們的 AGP 供應量同比增長了近 30%。

And finally, we made meaningful progress on our first-party data and AI machine learning platform, which is setting the foundation for smarter targeting higher return on ad spend for advertisers and improved user experiences, all being direct benefits of us leveraging our data.

最後，我們在第一方數據和人工智慧機器學習平台方面取得了實質進展，這為廣告主更聰明地定位目標受眾、提高廣告支出回報率和改善用戶體驗奠定了基礎，所有這些都是我們利用自身數據帶來的直接好處。

Beyond just near-term execution, we're also making strategic progress positioning in Digital Turbine for the future. Our first-party data investments, coupled with real-time AI-driven decisioning are unlocking new levels of precision and scale. These capabilities are becoming even more valuable as advertisers seek alternatives to the closed wall garden ecosystems and look for transparent performance ways to engage mobile users.

除了近期執行之外，我們還在數位渦輪機領域取得了策略性進展，為未來做好準備。我們第一方數據投資，加上即時人工智慧驅動的決策，正在解鎖更高水準的精準度和規模。隨著廣告主尋求封閉式生態系統以外的替代方案，並尋找透明的績效方式來吸引行動用戶，這些功能變得越來越有價值。

We ran these unique advantages as the DT Ignite graph, which yields our AI machine learning platform, and we also brand our AI machine learning platform as DTiQ. Scaling our Ignite graph and DTiQ are one of our top priorities in the business, and we see these capabilities as a major growth driver for our business into the future. We're also seeing increasing brand engagement directly on our platform.

我們將這些獨特的優勢作為 DT Ignite 圖運行，由此產生了我們的 AI 機器學習平台，我們也將我們的 AI 機器學習平台命名為 DTiQ。擴展我們的 Ignite 圖和 DTiQ 是我們業務中的首要任務之一，我們認為這些能力將是我們未來業務成長的主要驅動力。我們也看到品牌在我們平台上的直接互動量也不斷增加。

We continue to expand the number of brands leveraging our capabilities. Much of this growth comes through traditional media buying agencies, but we were especially excited is with brands that have brought their media buying in-house, and want a direct relationship with Digital Turbine, particularly in the retail and consumer packaged goods categories. In fact, direct brands accounted for 47% of our total brand revenue in the September quarter, which was up from 22% in the prior quarter.

我們將繼續擴大利用我們能力的品牌數量。這種成長很大程度上來自傳統的媒體購買代理商，但我們尤其感到興奮的是，一些品牌已經將媒體購買業務轉移到公司內部，並希望與 Digital Turbine 建立直接的合作關係，尤其是在零售和消費品包裝領域。事實上，9 月季度，自有品牌占我們品牌總營收的 47%，高於上一季的 22%。

This growth reflects the value we deliver through meaningful supply path optimization savings enabled by our extensive SDK footprint and a truly differentiated offering from omnichannel SSPs through our unique on-device scale. Moreover, the macro environment continues to shift in favor of direct distribution and alternative app distribution models.

這一成長反映了我們透過廣泛的 SDK 佈局實現的有意義的供應鏈路徑優化節省所創造的價值，以及我們透過獨特的設備端規模提供的與全通路 SSP 真正差異化的產品和服務。此外，宏觀環境持續轉向直接分銷和替代應用程式分銷模式。

With the combination of our tech enablers such as Ignite Graft DTiQ, SingleTap and dual downloads, which enabled the distribution of application and alternative app stores directly distributed to devices. As an example, our use of SingleTap technology grew 45% sequentially, which is a nice example of helping publishers create a simple user experience to distribute their applications.

結合我們的技術賦能工具，例如 Ignite Graft DTiQ、SingleTap 和雙重下載，可以直接將應用程式和替代應用程式商店分發到設備。例如，我們對 SingleTap 技術的使用量環比增長了 45%，這很好地說明瞭如何幫助發行商創建簡單的用戶體驗來分發他們的應用程式。

And adding our ad tech tools on top of these capabilities helps them acquire more users. Regulatory momentum is accelerating in all geographies around the world to offer customer and publisher choice. In other words, our alternative strategy is simply leveraging our existing technology, capabilities and strengths for Android and iOS into a new and growing channel of distribution.

在這些功能的基礎上添加我們的廣告科技工具，可以幫助他們獲得更多用戶。世界各地監管力度都在加快，旨在為消費者和出版商提供更多選擇。換句話說，我們的替代策略就是利用我們現有的 Android 和 iOS 技術、能力和優勢，拓展到一個新興且不斷成長的通路。

To wrap up, our growth accelerated in the second quarter. We showed solid year-over-year double-digit growth in both revenue and EBITDA, driven by a healthy mix of disciplined execution, innovation, and favorable industry dynamics. We're building the right foundation through operational discipline and strategic investment to drive sustained profitable growth.

總而言之，我們的成長在第二季加速。在嚴格的執行、創新和有利的行業動態的共同推動下，我們的收入和 EBITDA 均實現了兩位數的同比增長。我們正在透過嚴格的營運紀律和策略性投資，為實現持續獲利成長奠定正確的基礎。

We're excited by the traction we're seeing across the business and confident in our ability to continually deliver value to partners, advertisers, end users and shareholders.

我們對公司業務的進展感到興奮，並有信心繼續為合作夥伴、廣告商、最終用戶和股東創造價值。

With that, I'll turn it over to Steve to take you through the financials in more detail.

接下來，我將把麥克風交給史蒂夫，讓他更詳細地為大家講解財務狀況。

Thank you, Bill, and good afternoon, everyone. The fiscal second quarter represented another meaningful step forward for digital turbine. We accelerated revenue growth expanded product margins and delivered top and bottom-line results that exceeded our expectations. We also advanced several key strategic initiatives and strengthened our balance sheet with a new longer-term credit facility.

謝謝你，比爾，大家下午好。第二財季標誌著數位渦輪機向前邁出了重要一步。我們加快了營收成長，擴大了產品利潤率，並取得了超乎預期的營收和利潤成長。我們也推進了幾項關鍵策略舉措，並透過新的長期信貸安排加強了我們的資產負債表。

As we look at the numbers, total revenue for the fiscal second quarter was $140.4 million, representing 18% growth year over year. At a segment level, our ODS business delivered $96.5 million in revenue, up 17% year over year. This growth was driven by higher device volumes and revenue per dice, particularly from our international partners.

從數據來看，第二財季總營收為 1.404 億美元，年增 18%。從業務部門來看，我們的 ODS 業務實現了 9,650 萬美元的收入，年增 17%。這一成長主要得益於設備銷售和單次收入的提高，尤其是來自我們國際合作夥伴的收入。

International ODS revenue reached a record high in surge more than 80% year over year. We are pleased to see our AGP segment returned to year-over-year growth, delivering $44.7 million in revenue, up 20% from the prior year. These results reflect the early benefits of our strategic efforts to better harness our proprietary first-party data and AI-driven capabilities. The combination of accelerated top line growth and ongoing operational efficiencies produced another strong profitability quarter.

國際ODS營收創歷史新高，年增超過80%。我們很高興看到我們的 AGP 業務部門恢復了同比增長，收入達到 4,470 萬美元，比前一年增長了 20%。這些結果反映了我們為更好地利用我們專有的第一方資料和人工智慧驅動能力而採取的策略性舉措的早期成效。營收加速成長和持續的營運效率提升相結合，又帶來了一個強勁的獲利季度。

Adjusted EBITDA for our fiscal second quarter was $27.2 million, up 78% year over year. EBIT margin of 94 -- EBITDA margin of 19.4% expanded for the sixth consecutive quarter. Free cash flow for our second quarter was $7 million, an improvement of nearly $23 million year over year.

我們第二財季的調整後 EBITDA 為 2,720 萬美元，較去年同期成長 78%。息稅前利潤率達 94%，息稅折舊攤提前利潤率達 19.4%，連續第六個季度成長。第二季自由現金流為 700 萬美元，較上年同期成長近 2,300 萬美元。

Our non-GAAP gross margin for the fiscal second quarter was 47%, representing an improvement of 200 basis points compared to the same period last year, driven largely by product and segment mix. Cash operating expenses were $38.9 million, flat year over year.

我們第二財季的非GAAP毛利率為47%，比去年同期提高了200個基點，主要得益於產品和細分市場的組合。現金營運支出為 3,890 萬美元，與上年持平。

We are very pleased with the progress we are making on cost control and operational discipline, which allowed us to achieve 18% of year-over-year revenue growth with flat operating expenses. We will continue to identify areas for additional efficiency while maintaining targeted disciplined investments to support future growth.

我們對在成本控制和營運紀律方面取得的進展感到非常滿意，這使我們能夠在營運費用保持不變的情況下實現 18% 的年收入成長。我們將繼續尋找提高效率的領域，同時保持有針對性的、有紀律的投資，以支持未來的成長。

Turning to the bottom line. We reported a GAAP net loss of $21.4 million or $0.20 per share in the fiscal second quarter. On a non-GAAP basis, we generated net income of $16.5 million or $0.15 per share based on 113 million shares outstanding.

回到正題。我們公佈的第二財季GAAP淨虧損為2,140萬美元，即每股虧損0.20美元。以非GAAP準則計算，我們實現了1650萬美元的淨收入，即每股0.15美元，基於1.13億股流通股。

Looking at the balance sheet. We ended the quarter with a cash balance of $39 million, up approximately $5 million from the end of the June quarter. Our total debt, net of debt issuance costs stood at $396 million. In early September, we completed a successful debt refinancing with a new 4-year term loan facility. This financing meaningfully extends our maturity time line and ensures ample liquidity to execute our growth strategy in the years ahead.

查看資產負債表。本季末，我們的現金餘額為 3,900 萬美元，比 6 月底的季度末增加了約 500 萬美元。扣除債務發行成本後，我們的總債務為 3.96 億美元。9月初，我們成功完成了債務再融資，並獲得了一筆新的4年期貸款。此次融資顯著延長了我們的到期期限，並確保了充足的流動性，以在未來幾年執行我們的成長策略。

Let me turn to our updated outlook for fiscal 2026. Following a stronger-than-expected quarter and with improved visibility into the remainder of the fiscal year, we are raising our full year revenue and adjusted EBITDA guidance. We now expect revenue to be in the range of $540 million to $550 million, and adjusted EBITDA in the range of $100 million to $105 million for fiscal year 2026.

接下來，我將介紹我們更新後的 2026 財年展望。鑑於本季業績強於預期，且對本財年剩餘時間的前景更加明朗，我們上調了全年營收和調整後 EBITDA 預期。我們現在預計 2026 財年的營收將在 5.4 億美元至 5.5 億美元之間，調整後的 EBITDA 將在 1 億美元至 1.05 億美元之間。

At the midpoint, this represents an increase of $12.5 million in revenue guidance and $9 million in EBITDA guidance compared to our prior outlook. In closing, we have positioned the company for sustainable growth in fiscal 2026 and beyond. Momentum across our core businesses remain strong, and we are confident in our ability to build on this performance moving forward.

中位數顯示，與我們先前的預期相比，收入預期增加了 1,250 萬美元，EBITDA 預期增加了 900 萬美元。最後，我們已為公司在 2026 財年及以後的可持續成長做好了準備。我們核心業務的發展動能依然強勁，我們有信心在此基礎上繼續取得更好的業績。

With that, let me hand it back to the operator to open the line for questions. Operator?

那麼，我把電話交還給接線員，讓他開通提問線。操作員？

(Operator Instructions) Anthony Stoss, Craig-Hallum.

（操作說明）Anthony Stoss，Craig-Hallum。

Congrats on the continued nice execution. Bill, maybe to dig a little bit deeper on the brand business is accelerating. You're lighting new customers. Maybe can you talk about what they're seeing on the ROI? Are these kind of get the similar ROI elsewhere or just the fact that you've tied in all the different platforms, you have something so unique?

恭喜你們繼續保持如此出色的執行力。比爾，或許應該更深入探討品牌業務正在加速發展的問題。你正在吸引新客戶。您能否談談他們看到的投資報酬率情況？這些產品在其他地方也能獲得類似的投資報酬率嗎？還是說，僅僅因為你整合了所有不同的平台，所以才擁有如此獨特的產品？

And then also, maybe if you can update us if you have any thoughts on whether or not you'll land -- or not land but go live with additional SingleTap people by the end of the year?

另外，您能否告知我們您對最終能否成功上線（或最終未能成功但將在年底前與更多 SingleTap 用戶一起上線）有何想法？

Yes. Thanks, Tony. First, on your brand question, let me lift it up and talk about just AGP in general. We did the acquisitions a few years back. And we could have easily just focused on revenue, but we made the tough decisions to integrate the platforms.

是的。謝謝你，托尼。首先，關於您提出的品牌問題，我想先拋磚引玉，談談AGP的整體情況。這些收購是幾年前完成的。我們本來可以只專注於收入，但我們做出了艱難的決定，整合了各個平台。

And that was a lot of hard work. And we're really happy to see that starting to bear fruit, and you're seeing that show up in the results with nice double-digit increases because it's really a flywheel in terms of how the demand and supply work for each other.

那可是相當辛苦的工作。我們很高興看到這開始取得成果，從結果中也可以看出，出現了兩位數的顯著增長，因為需求和供應之間確實形成了一個良性循環。

And then we're starting to see that. And that's super important as we think about where we're going to grow that business in the future. One of the inputs into that flywheel, the brand business. And as I mentioned in my prepared remarks, we're great to see our direct brand relationships account for almost half of our total brand revenue in the September quarter.

然後我們開始看到這種情況了。這一點非常重要，因為我們正在考慮未來業務的發展方向。品牌業務是推動這飛輪效應的要素之一。正如我在準備好的演講稿中提到的，我們很高興地看到，在九月的季度裡，我們的直接品牌合作關係幾乎佔了我們品牌總收入的一半。

So we've worked really hard to get approved and certified by the large advertising agencies and that's something -- it's really bearing fruit for us. But we're seeing this trend towards a lot of brands bringing media buying in-house, and they can spend more time understanding the audiences. And so especially with consumer packaged, goods brands and retail brands in particular, you're starting to see some really nice growth and momentum there.

因此，我們付出了巨大的努力，獲得了大型廣告公司的批准和認證，這真的為我們帶來了成果。但我們看到，許多品牌正在將媒體購買業務轉移到公司內部，這樣他們就可以花更多時間了解受眾。因此，尤其是在消費品包裝品牌和零售品牌方面，你開始看到一些非常好的成長和勢頭。

So it's something we're excited about, specially we get into the holiday season. And as far as your question on SingleTap, as I mentioned in my prepared remarks, we saw almost 50% increase in SingleTap installs quarter after quarter. I think that would be the metric that I'd point you to in terms of our progress here versus any single one brand name or a partner that we're working with is we're working with a lot that are names that you are familiar with.

所以，我們對此感到很興奮，尤其是在假期來臨之際。至於你提出的 SingleTap 問題，正如我在準備好的演講稿中提到的，我們看到 SingleTap 的安裝量每季都成長了近 50%。我認為，衡量我們在這裡取得的進展，與任何單一品牌或合作夥伴相比，應該關注的指標是：我們合作的許多品牌都是你們熟悉的。

But we're excited to see that platform continue to be a benefit to end users and advertisers. We're just simplifying the experience of getting apps to device. So that growth that we saw in the quarter is something that we're encouraged by.

但我們很高興看到該平台繼續為終端用戶和廣告商帶來益處。我們只是簡化了將應用程式下載到設備的體驗。因此，我們對該季度看到的成長感到鼓舞。

Just kind of a follow-up here on the international side. It was really strong yet again. If you could step back, how much or -- how penetrated do you think that international market is? And you highlighted that the RPD revenue was strong? Can you give us any more detail on what it was up to be quarter to quarter or year over year?

這裡是國際方面的一個後續報導。表現依然非常強勁。您能否回顧一下，您認為國際市場的滲透率如何？您還特別提到RPD的營收表現強勁？您能否提供更多關於季度環比或年度同比數據的詳細資訊？

Yes. So in terms of international RPDs, we saw a really nice solid double-digit growth year over year in that. And obviously, solid growth in devices that drove the 80% increase that we have year over year. And so I mentioned that for the first time in the history and obviously, you've been around the company for a long time, we've talked about international for many, many quarters. And so forth now exceed 25% of our revenues for ODS is something that I was really happy to see.

是的。因此，就國際零售價格而言，我們看到了非常好的、穩健的兩位數年成長。顯然，設備業務的穩健成長推動了我們年增 80%。所以我提到，這是公司歷史上第一次，而且顯然，您在公司工作了很長時間，我們已經討論國際化很多很多個季度了。看到 ODS 的收入佔比超過 25%，我真的很高興。

And it's a combination of more devices, better demand, better execution. And so really proud of the team on this one, generator strong results.

這是更多設備、更好需求、更好執行力共同作用的結果。我真的為團隊感到驕傲，他們取得了非常出色的成果。

Mitch Pindus, Wells Fargo.

米奇·平杜斯，富國銀行。

I echo previous sentiments. A nice quarter. Well done. I have a question related to AI. And I wanted to find out a little bit more about if it's playing a role with Digital Turbine as it relates to either operations or advertising?

我贊同之前的觀點。不錯的四分之一。做得好。我有一個關於人工智慧的問題。我想進一步了解一下，它在 Digital Turbine 的營運或廣告方面是否發揮作用？

Yes. Yes. Sure, Mitch. Yes, AI is a really critical part of our strategy going forward. And it's been a part looking back as well and being able to use AI to simplify and automate our business and our business processes to make our business more efficient, is something that we've been doing and continue to make investments in.

是的。是的。當然可以，米奇。是的，人工智慧是我們未來策略中至關重要的一部分。回顧過去，我們也一直在努力利用人工智慧來簡化和自動化我們的業務和業務流程，從而提高業務效率，並且我們將繼續在這方面進行投資。

And those investments will drive future operating expense and operating leverage for the business. And then on the customer side, we've made some material investments in AI specifically, which we're branding as DTiQ, that is our AI machine learning platform that can deliver better models, better outcomes, better predictions for our advertisers to drive better return on ad spend. And so big material investments for us. We're starting to see some fruits of that show up in the current quarter.

這些投資將推高企業未來的營運支出和營運槓桿。在客戶方面，我們專門對人工智慧進行了一些實質投資，我們將其命名為 DTiQ，這是我們的人工智慧機器學習平台，可以為我們的廣告商提供更好的模型、更好的結果和更好的預測，從而提高廣告支出回報率。因此，我們需要進行大量的物質投資。本季我們已經開始看到一些成果顯現。

But as we think about our growth drivers into 2026 and beyond, this will be a major driver for us, and this is one of our major focus areas of the company.

但展望 2026 年及以後的發展動力，這將是我們的主要動力，也是我們公司的主要關注領域之一。

One more question. After the recent Supreme Court ruling, which was reversed to Google Play, are you seeing any effect to DT as an alternative app storefront alternative? And if so, can you speak to the progress and your thoughts for potential of that business?

最後一個問題。在最高法院最近推翻了 Google Play 的裁決之後，您認為 DT 作為替代應用程式商店會受到什麼影響？如果屬實，您能否談談該業務的進展以及您對該業務發展潛力的看法？

Yes, Mitch. It's something we're really excited about is, we see more democratization of app distribution and the rulings obviously support that. And so what we see going forward is a lot of app publishers that you want to have direct access with their billing to their subscribers or look at other third parties to do that, and we enable both of those.

是的，米奇。我們感到非常興奮的是，我們看到應用程式分發更加民主化，而這些裁決顯然也支持這一點。因此，我們看到，未來許多應用程式發行商都希望能夠直接向訂閱用戶收取費用，或尋求其他第三方來實現這一目標，而我們能夠滿足這兩種需求。

So how I would think about it is, that business is going to happen regardless of whatever Digital Turbine does. But in terms of facilitating that in terms of distributing those alternative apps, or being able to help those app postures acquire more users, that's where we come in. And I think we can really help provide a lot of value to those app publishers that want to do that.

所以我認為，無論 Digital Turbine 做什麼，這項業務都會繼續進行。但是，在促進這些替代應用程式的分發，或幫助這些應用程式獲得更多用戶方面，那就是我們發揮作用的地方了。我認為我們真的可以幫助那些想要這樣做的應用程式發行商創造很多價值。

So another major focus area for our business going forward is something we anticipate to see a lot of growth and momentum for -- in 2026 and beyond.

因此，我們業務未來另一個主要關注領域是我們預計在 2026 年及以後將迎來大量成長和發展勢頭的領域。

Arthur Chu, Bank of America.

Arthur Chu，美國銀行。

This is Arthur for Omar. Bill, maybe just a follow-up on Ignite Graph and DTiQ. What types of data that the AI/ML platform is using that is -- that are sort of unique to Digital Turbine that could perhaps help advertise survey some conversion signals that are different from what some of the other ad platforms are doing?

這是亞瑟送給奧馬爾的。Bill，或許可以跟進 Ignite Graph 和 DTiQ。這個 AI/ML 平台正在使用哪些類型的數據——這些數據是 Digital Turbine 獨有的，或許可以幫助廣告商調查一些與其他廣告平台不同的轉換訊號？

Yes. Sure, Arthur. So we've got over 1,000 different signals that come in from all over our network. And that network could be more than the $0.5 billion devices that we have Ignite on or the -- between 2 billion and 3 billion devices that we have our SDK footprint in terms of leveraging the signals that come from all of those places. .

是的。當然，亞瑟。因此，我們有超過 1000 個不同的訊號從我們的網路各處傳入。而且，這個網路可能比我們 Ignite 所覆蓋的價值 5 億美元的設備還要多，或者比我們 SDK 所覆蓋的價值 20 億到 30 億台設備還要多，因為我們可以利用來自所有這些地方的信號。。

And specifically, we think part of our unique secret sauce is really on the Ignite side of the business in terms of not in terms of having the access to the data in terms of what applications are on the device in terms of how they're used and install, not install, user engagement and the rest of that.

具體來說，我們認為我們獨特的秘訣之一在於 Ignite 業務方面，這體現在我們能夠存取設備上的應用程式數據，以及這些應用程式的使用和安裝情況（包括未安裝情況）、用戶參與度等等。

And so I think with those unique signals for us can help drive better outcomes for advertisers in a more efficient way, which obviously leverages our set of capabilities. So all of that really produces a DT Ignite Graph that we can use then to build models and prediction on and what we're calling that AI machine learning platforms is DTiQ.

因此，我認為這些獨特的訊號可以幫助我們以更有效率的方式為廣告商帶來更好的結果，這顯然充分利用了我們的一系列能力。因此，所有這些實際上都產生了一個 DT Ignite 圖，我們可以用它來建立模型和進行預測，而我們稱之為 AI 機器學習平台的就是 DTiQ。

And so we're excited about the early returns that we're seeing on that. But as we go forward, that's going to be a major investment and focus area for us.

因此，我們對目前看到的初步結果感到興奮。但展望未來，這將是我們重點投資和關注的領域。

Got it. That's super helpful. Maybe if I can just ask another follow-up question. This one is on the competitive landscape. What are you seeing -- let's say, if you just look back into the past 6 to 12 months, what are you seeing -- are you seeing any changes in the competitive landscape with -- perhaps some of the other players like putting out in the market.

知道了。這太有幫助了。或許我可以再問一個後續問題。這是關於競爭格局的。比如說，如果你回顧過去 6 到 12 個月，你看到了什麼？你是否看到了競爭格局的任何改變？或許其他一些參與者在市場上推出了什麼新產品？

Just wondering like if there are any changes that you're seeing there?

想問你那邊有沒有什麼變化？

Yes. I think on the competitive landscape, on the On Device side of the business, we've we're actually seeing a little bit less competition as one of the major players exited that business over the past 6 months or so. So that's something I think that is good news for us, although it continues to remain robust, competitive with other players, other large mega players.

是的。我認為在競爭格局方面，在設備端業務方面，我們實際上看到的競爭有所減少，因為在過去 6 個月左右的時間裡，一家主要參與者退出了該業務。所以我認為這對我們來說是個好消息，儘管它仍然保持強勁勢頭，與其他玩家，其他大型巨頭玩家相比，仍然具有競爭力。

On the AGP side of the business. We're really focused on just building out our flywheel in terms of how we can better connect our demand to our supply more so than competition, and a lot of the name in the industry may be competition on one part of the business, SSP or exchange side, but they're customers for ours on the DSP side.

在AGP業務方面。我們真正關注的是建造我們的飛輪，也就是如何更好地將需求與供應聯繫起來，而不是競爭。業內許多知名企業可能在業務的某個方面（例如 SSP 或交易平台）是我們的競爭對手，但在 DSP 方面，他們卻是我們的客戶。

So it's a little bit nuanced in terms of getting into the details on this call. But I would say we haven't seen anything material happen in the competitive landscape on the AGP side over the past six months or so.

所以，要深入探討這通通話的細節，還有一些微妙之處。但我認為，在過去六個月左右的時間裡，AGP 方面的競爭格局並沒有任何實質的變化。

This concludes the question-and-answer session. I would now like to hand the conference back over to Bill Stone for any closing remarks.

問答環節到此結束。現在我謹將會議交還給比爾·斯通，請他作總結發言。

Yes. Thanks, everyone, for joining our call today. We'll talk to you again on our fiscal '26 third quarter call in a few months. Thanks, and have a great night. .

是的。感謝各位今天參加我們的電話會議。我們將在幾個月後的 2026 財年第三季電話會議上再次與您見面。謝謝，祝你晚安。。

This concludes today's conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.

今天的電話會議到此結束。您可以斷開線路。感謝您的參與，祝您有個愉快的一天。