Digital Turbine, Inc (APPS) saw its loss widen to $6.92 million, or $0.10 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $5.83 million, or $0.09 a share.

Revenue during the quarter went down marginally by 2.76 percent to $22.40 million from $23.03 million in the previous year period. Gross margin for the quarter expanded 159 basis points over the previous year period to 17.44 percent. Operating margin for the quarter stood at negative 17.21 percent as compared to a negative 23.34 percent for the previous year period.

Operating loss for the quarter was $3.85 million, compared with an operating loss of $5.38 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at negative $0.72 million.

"Fiscal 2017 ended on a positive note for Digital Turbine, and fiscal 2018 is off to a promising start," said Bill Stone, chief executive officer. "The March quarter was perhaps most noteworthy for the meaningful improvement in gross margin and Adjusted EBITDA realized in the quarter. On the top-line, we managed modest sequential growth versus the seasonally strong December quarter, largely driven by a significant rebound in our DT Pay business, which more than offset a decline in our legacy A&P revenue. Total revenue within our O&O business was essentially flat quarter-over-quarter; however, an evolving mix shift toward higher-margin partners on the platform and new Ignite-related initiatives led to significantly improved gross margins in the quarter. The gross margin expansion, along with diligent expense management, yielded a significant improvement in Adjusted EBITDA during the quarter and moved the Company closer toward realizing its stated profitability objectives. In late April, we successfully deployed Ignite on the widely-heralded Samsung Galaxy S8 and S8+ with our key partners, including Verizon, AT&T/Cricket, America Movil and U.S. Cellular. Improved launch execution internally and strong advertiser demand for these new phones positions us well for the current quarter and beyond."

Digital Turbine, Inc has spent $7 million cash to meet operating activities during the year as against cash outgo of $7.07 million in the last year.

The company has spent $0.60 million cash to meet investing activities during the year as against cash outgo of $0.67 million in the last year.

Cash flow from financing activities was $2.63 million for the year, down 78.24 percent or $9.45 million, when compared with the last year.

Cash and cash equivalents stood at $6.15 million as on Mar. 31, 2017, down 45.25 percent or $5.08 million from $11.23 million on Mar. 31, 2016.

Debt comes down

Digital Turbine, Inc has recorded a decline in total debt over the last one year. It stood at $9.68 million as on Mar. 31, 2017, down 7.16 percent or $0.75 million from $10.43 million on Mar. 31, 2016. Long-term debt stood at $9.68 million as on Mar. 31, 2017.