2014 Q3 Form 10-Q Financial Statement
#000156459015000689 Filed on February 13, 2015
Income Statement
| Concept | 2014 Q3 | 2014 Q2 | 2013 Q4 |
|---|---|---|---|
| Revenue | $5.462M | $5.554M | $7.033M |
| YoY Change | -19.19% | 16.12% | 243.24% |
| Cost Of Revenue | $3.661M | $4.140M | $4.979M |
| YoY Change | -16.32% | 32.82% | 437.11% |
| Gross Profit | $1.801M | $1.414M | $2.054M |
| YoY Change | -24.45% | -15.13% | 83.07% |
| Gross Profit Margin | 32.97% | 25.46% | 29.21% |
| Selling, General & Admin | $4.291M | $4.135M | $4.122M |
| YoY Change | 12.07% | -0.96% | -0.05% |
| % of Gross Profit | 238.26% | 292.43% | 200.68% |
| Research & Development | $2.155M | $1.959M | $2.120M |
| YoY Change | -10.47% | 23.36% | 267.42% |
| % of Gross Profit | 119.66% | 138.54% | 103.21% |
| Depreciation & Amortization | $370.0K | $370.0K | $33.00K |
| YoY Change | 1056.25% | 1093.55% | 22.22% |
| % of Gross Profit | 20.54% | 26.17% | 1.61% |
| Operating Expenses | $6.446M | $6.094M | $6.242M |
| YoY Change | 3.37% | 5.74% | 32.78% |
| Operating Profit | -$4.645M | -$4.680M | -$4.188M |
| YoY Change | 20.59% | 14.23% | 17.02% |
| Interest Expense | -$130.0K | $0.00 | $0.00 |
| YoY Change | -86.73% | -100.0% | -100.0% |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$129.0K | -$2.000K | $27.00K |
| YoY Change | -83.46% | -99.86% | -104.49% |
| Pretax Income | -$4.774M | -$4.682M | -$3.661M |
| YoY Change | 3.07% | -15.03% | -12.44% |
| Income Tax | $430.0K | -$70.00K | $19.00K |
| % Of Pretax Income | |||
| Net Earnings | -$5.201M | -$4.610M | -$4.176M |
| YoY Change | -16.41% | -18.92% | -0.9% |
| Net Earnings / Revenue | -95.22% | -83.0% | -59.38% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$135.5K | -$123.2K | -$133.4K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 37.48M shares | 37.44M shares | 31.27M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2014 Q3 | 2014 Q2 | 2013 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $16.70M | $18.70M | $4.700M |
| YoY Change | 114.1% | 1068.75% | 193.75% |
| Cash & Equivalents | $16.72M | $18.69M | $4.656M |
| Short-Term Investments | |||
| Other Short-Term Assets | $600.0K | $600.0K | $400.0K |
| YoY Change | 0.0% | -50.0% | -55.56% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $4.337M | $5.106M | $6.310M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $21.69M | $24.43M | $11.43M |
| YoY Change | 51.72% | 226.64% | 149.25% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $422.0K | $470.0K | $459.0K |
| YoY Change | -1.17% | 9.3% | 128.36% |
| Goodwill | $6.309M | $6.309M | $4.770M |
| YoY Change | 32.26% | 30.35% | 5.14% |
| Intangibles | $6.913M | $7.257M | $10.10M |
| YoY Change | -34.84% | -34.75% | 102.87% |
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $500.0K | $100.0K | $500.0K |
| YoY Change | 25.0% | -75.0% | |
| Total Long-Term Assets | $14.19M | $14.12M | $15.82M |
| YoY Change | -12.55% | -16.06% | 62.87% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $21.69M | $24.43M | $11.43M |
| Total Long-Term Assets | $14.19M | $14.12M | $15.82M |
| Total Assets | $35.87M | $38.55M | $27.25M |
| YoY Change | 17.56% | 58.63% | 90.57% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $3.817M | $3.504M | $4.916M |
| YoY Change | -31.79% | -38.77% | 29.54% |
| Accrued Expenses | $2.373M | $4.500M | $4.900M |
| YoY Change | -47.27% | 7.14% | 226.67% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $6.000K | ||
| YoY Change | -99.79% | ||
| Total Short-Term Liabilities | $10.04M | $9.084M | $10.75M |
| YoY Change | -8.99% | -47.61% | 22.43% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $200.0K |
| YoY Change | -100.0% | -100.0% | -88.57% |
| Other Long-Term Liabilities | |||
| YoY Change | |||
| Total Long-Term Liabilities | $0.00 | $0.00 | $200.0K |
| YoY Change | -100.0% | -100.0% | -88.57% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $10.04M | $9.084M | $10.75M |
| Total Long-Term Liabilities | $0.00 | $0.00 | $200.0K |
| Total Liabilities | $10.04M | $9.084M | $10.99M |
| YoY Change | -10.91% | -53.32% | -3.04% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$170.1M | -$164.9M | -$157.7M |
| YoY Change | 10.82% | 11.97% | 14.11% |
| Common Stock | $7.000K | $7.000K | $7.000K |
| YoY Change | 0.0% | 0.0% | 0.0% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $71.00K | $71.00K | $71.00K |
| YoY Change | 0.0% | 0.0% | 0.0% |
| Treasury Stock Shares | $754.6K | 754.6K shares | 754.6K shares |
| Shareholders Equity | $25.83M | $29.46M | $16.26M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $35.87M | $38.55M | $27.25M |
| YoY Change | 17.56% | 58.63% | 90.57% |
Cashflow Statement
| Concept | 2014 Q3 | 2014 Q2 | 2013 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$5.201M | -$4.610M | -$4.176M |
| YoY Change | -16.41% | -18.92% | -0.9% |
| Depreciation, Depletion And Amortization | $370.0K | $370.0K | $33.00K |
| YoY Change | 1056.25% | 1093.55% | 22.22% |
| Cash From Operating Activities | -$2.340M | -$3.135M | -$3.020M |
| YoY Change | 1.74% | 96.68% | 17.51% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $20.00K | -$30.00K | -$30.00K |
| YoY Change | -300.0% | 50.0% | |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | $10.00K | $0.00 |
| YoY Change | -101.3% | ||
| Cash From Investing Activities | $30.00K | -$22.00K | -$30.00K |
| YoY Change | -250.0% | -97.22% | -400.0% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 380.0K | $0.00 | 0.000 |
| YoY Change | -95.57% | -100.0% | -100.0% |
| NET CHANGE | |||
| Cash From Operating Activities | -2.340M | -$3.135M | -3.020M |
| Cash From Investing Activities | 30.00K | -$22.00K | -30.00K |
| Cash From Financing Activities | 380.0K | $0.00 | 0.000 |
| Net Change In Cash | -1.930M | -$3.157M | -3.050M |
| YoY Change | -130.88% | -1105.41% | 95.51% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$2.340M | -$3.135M | -$3.020M |
| Capital Expenditures | $20.00K | -$30.00K | -$30.00K |
| Free Cash Flow | -$2.360M | -$3.105M | -$2.990M |
| YoY Change | 3.06% | 97.27% |
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|
<div> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:2.27%;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Organization </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Digital Turbine, Inc. (“we”, “us”, “our”, the “Company” or “Digital Turbine”), formerly Mandalay Digital Group, Inc. (“Mandalay Digital”), NeuMedia, Inc. (“NeuMedia”), Mandalay Media, Inc. (“Mandalay Media”) and Mediavest, Inc. (“Mediavest”), through its wholly-owned subsidiary, Digital Turbine USA, Inc. (“DT USA”), provides end to end mobile content solutions for wireless carriers and OEMs globally to enable them to better monetize their subscribers. The Company’s products include mobile application management through DT Ignite, user experience and discovery through DT IQ, application stores and content through DT Content and mobile payments through DT Pay. With global headquarters in Austin, Texas and offices throughout the U.S., Asia Pacific and EMEA, Digital Turbine’s solutions are available worldwide. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company was originally incorporated in the State of Delaware on November 6, 1998 under the name eB2B Commerce, Inc. On April 27, 2000, it merged into DynamicWeb Enterprises Inc., a New Jersey corporation. On April 13, 2005, the Company changed its name to Mediavest, Inc. Through January 26, 2005, the Company and its former subsidiaries were engaged in providing business-to-business transaction management services designed to simplify trading between buyers and suppliers. The Company was inactive from January 26, 2005 until its merger with Twistbox Entertainment, Inc. (“Twistbox”) on February 12, 2008. On September 14, 2007, Mediavest was re-incorporated in the State of Delaware. On November 7, 2007, the Company changed its name to Mandalay Media, Inc. On May 11, 2010, the Company merged with a wholly-owned, newly-formed subsidiary, changing its name to NeuMedia, Inc. On February 6, 2012, the Company merged with a wholly-owned, newly-formed subsidiary, changing its name to Mandalay Digital Group, Inc. On January 13, 2015, the Company filed an Amendment of Certificate of Incorporation to change its name to Digital Turbine, Inc. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October 23, 2008, the Company completed an acquisition of 100% of the issued and outstanding share capital of AMV Holding Limited, a United Kingdom private limited company (“AMV”), and 80% of the issued and outstanding share capital of Fierce Media Ltd (“Fierce”). On June 21, 2010, we sold all of the operating subsidiaries comprising AMV.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On December 28, 2011, the Company entered into a Share Purchase Agreement to acquire the assets of Digital Turbine LLC through its newly-formed wholly-owned subsidiary, Digital Turbine, Inc. The Company purchased the Digital Turbine LLC assets with 10,000 shares of common stock of the Company, with a fair value of $30,500 on the date of grant. On September 19, 2014, the Company changed the name of Digital Turbine, Inc. to Digital Turbine USA, Inc.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On July 27, 2012, the Company formed a wholly-owned Israeli acquisition/holding company, Digital Turbine (EMEA) Ltd. (“DT EMEA”) (formerly M.D.G. Logia Holdings LTD). </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On August 15, 2012, the Company amended its charter with the state of Delaware to increase the total number of shares of common stock of the Company to 200,000,000 and the total number of shares of preferred stock of the Company to 2,000,000. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On September 13, 2012, the Company completed an acquisition of 100% of the issued and outstanding share capital of three operating subsidiaries of Logia Group Ltd (“Sellers”) (Logia Content Development and Management Ltd. (“Logia Content”), Volas Entertainment Ltd. (“Volas”) and Mail Bit Logia (2008) Ltd. (“Mail Bit”), (collectively, the “Targets”)). In addition, the Company, by assignment to the acquisition entity, Digital Turbine (EMEA) Ltd (“DT EMEA”) acquired the assets of LogiaDeck Ltd (an affiliate of the Seller, “LogiaDeck”), comprised of the “LogiaDeck” software, which the Company has rebranded “DT Ignite”, and certain operator and other contracts related to the business of the Targets that were originally entered into by the Sellers. Pursuant to the Logia purchase agreement, the Company purchased 23% of the outstanding shares of the Targets and DT EMEA purchased 77% of such shares. On November 7, 2012, the Company contributed all of its shares of the Targets to DT EMEA pursuant to a Contribution Agreement among the Company, DT USA and DT EMEA. The acquired business of the Targets are collectively referred to as “DT EMEA” in this Quarterly Report on Form 10-Q. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 28, 2013 and April 9, 2013, the Company filed a Certificate of Amendment and Certificate of Correction of Certificate of Amendment of its Certificate of Incorporation (the “Certificate of Amendment”), with the Secretary of State of the State of Delaware, to effect a 1-for-5 reverse stock split of the Company’s common stock (the “Reverse Stock Split”). The Certificate of Amendment, as corrected, became effective as of April 12, 2013. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As a result of the Reverse Stock Split, every five (5) shares of our pre-Reverse Stock Split common stock were combined and reclassified into one (1) share of our common stock. Our post-Reverse Stock Split common stock began trading on April 15, 2013 with a new CUSIP number of 562562-207. The Reverse Stock Split did not change the authorized number of shares or the par value of our common stock. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On April 12, 2013, the Company, through its indirect, wholly-owned subsidiary organized under the laws of Australia, Digital Turbine Group Pty Ltd (“DT APAC”), acquired all of the issued and outstanding stock of Mirror Image International Holdings Pty Ltd (“MIAH”). MIAH owns direct or indirect subsidiaries Mirror Image Access (Australia) Pty Ltd (MIA), MIA Technology Australia Pty Ltd (MIATA) and MIA Technology IP Pty Ltd (together with the MIAH, the “MIA Group”). The acquired business of the MIA Group is referred to as “DT APAC” in this Quarterly Report on Form 10-Q. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On February 13, 2014, the Company sold 100% of the issued and outstanding share capital of Twistbox. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 17, 2014, the Company created a new entity in Singapore named Digital Turbine Singapore Pte. Ltd. (“DT Singapore”). </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October 8, 2014, the Company created a new entity in Luxembourg named Digital Turbine Luxembourg S.a r.l. (“DT Luxembourg”). On October 9, 2014, DT Luxembourg, acquired certain intellectual property assets of Xyologic Mobile Analysis, GmbH, registered with the district court for Berlin Charlottenberg, Germany ("XYO"), related to mobile application (“app”) recommendation, search and discovery. The aggregate purchase price was US $2,500,000, paid in cash, subject to a twelve (12) month holdback of US $375,000, which acts as partial security for potential future indemnification claims.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October 13, 2014, the Company created a new entity in Germany named Digital Turbine Germany GmbH. (“DT Germany”).</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On January 20, 2015, the Company changed its Nasdaq ticker symbol from “MNDL” to “APPS”, with a new CUSIP number of 25400W-102. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:8pt;"> </p></div> | ||
| us-gaap |
Revenue Recognition Software
RevenueRecognitionSoftware
|
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Revenue Recognition </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Advertising</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Advertising revenues are generated via direct Cost-Per-Install (CPI) arrangements with application developers, or indirect CPI arrangements through advertising aggregators (ad networks). Transactions are processed by the Company’s software services: mobile application management through DT Ignite, and user experience and discovery through DT IQ.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company recognizes as revenue the amount billed to the application developer or advertising aggregator. Revenue share payments to the carrier are recorded as a cost of revenues. The Company has evaluated its agreements with the developers and aggregators and the carriers in accordance with the guidance at FASB ASC 605-45 Revenue Recognition – Principal Agent Considerations and has concluded that it is the principal under these agreements. Key indicators that it evaluated to reach this determination include:</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has the contractual relationship with the application developers or advertising aggregators (collectively, the advertisers), and we have the performance obligation to these parties; </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Through our DT Ignite and DT IQ software, we provide application installation and management as well as detailed reporting to advertisers and carriers. We are responsible for billing the advertisers, and for reporting revenues and revenue share to the carriers;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As part of the application management process, we use our data, and post-install event data provided back to us by the advertisers, to match applications to end users. We currently target end users based on carrier, geography, demographics (including by handset type), among other attributes, by leveraging carrier data. We have discretion as to which applications are delivered to each end user;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pricing is established in our agreements with advertisers. We negotiate pricing with the advertisers, based on prevailing rates typical in the industry; and </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is responsible for billing and collecting the gross amount from the advertiser. Our carrier agreements do not include any specific provisions that allow us to mitigate our credit risk by reducing the revenue share payable to the carrier.</p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In certain instances the carrier may enter directly into a CPI arrangement with a developer, where the installation will be made using the Company’s DT Ignite and DT IQ software services. In these instances, the Company receives a share of the carrier’s revenue, which is recognized on a net basis. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In addition to revenues from application developers and advertising aggregators, the Company may receive fees from the carriers relating to the initial set-up of the arrangements with the carriers. Set-up activities typically include customization, testing and implementation of the DT Ignite software for specific handsets. When the Company determines that the set-up fees do not have standalone value, such fees are deferred and recognized over the estimated period the carrier benefits from the set-up fee, which is generally the estimated life of the related handsets.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has determined that certain set-up activities are within the scope of FASB ASC 985-605 Software Revenue Recognition and, accordingly, the Company applies the provisions of ASC 985-605 to the software components. As a result, the Company typically defers recognition of the set-up fee until all elements of the arrangement have been delivered. In those instances where the set-up fee covers ongoing support and maintenance, the fee is deferred and amortized over the term of the carrier agreement.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Content and Billing</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s Content and Billing revenues are derived primarily from transactions with the carriers’ customers (end users). The carriers bill the end users upon the sale of content, including music, images or games, and the Company shares the end user revenues with the carrier. The end user transactions are processed by the Company’s software services: white labeled mobile storefront and content management solutions through DT Content, and mobile payments with direct operator billing through DT Pay. </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company utilizes its reporting system to capture and recognize revenue due from carriers, based on monthly transactional reporting and other fees earned upon delivery of content to the end user. Determination of the appropriate amount of revenue recognized is based on the Company’s reporting system, but it is possible that actual results may differ from the Company’s estimates once the reports are reconciled with the carrier. When the Company receives the final carrier reports, to the extent not received within a reasonable time frame following the end of each month, the Company records any differences between estimated revenues and actual revenues in the reporting period when the Company determines the actual amounts. The Company has not experienced material adjustments to its estimates when the final amounts were reported by carriers. If the Company deems a carrier not to be creditworthy, the Company defers all revenues from the arrangement until the Company receives payment and all other revenue recognition criteria have been met.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company recognizes as revenues the amount billed to the carrier upon the sale of content, which is net of sales taxes, the carrier’s fees and other deductions. The Company has evaluated its agreements with carriers in accordance with the guidance at FASB ASC 605-45 Revenue Recognition – Principal Agent Considerations and has concluded that it is not the principal under these agreements. Key indicators that it evaluated to reach this determination include:</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">End users directly contract with the carriers, which have most of the service interaction and are generally viewed as the primary obligor by the subscribers;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Carriers generally have significant control over the types of content that they offer to their subscribers; the Company has the content provider relationships and has discretion, within the parameters set by the carriers, regarding the actual offerings;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Carriers are directly responsible for billing and collecting fees from their subscribers, including the resolution of billing disputes;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Carriers generally pay the Company a fixed percentage of their revenues or a fixed fee for each content sale;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Carriers generally must approve the price of the Company’s content in advance of their sale to subscribers, and the Company’s more significant carriers generally have the ability to set the ultimate price charged to their subscribers; and</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:96.67%;margin-left:3.33%;"> <tr> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;;font-family:'Times New Roman';font-size:10pt;">•</p></td> <td valign="top" style="width:96.67%;"> <p style="margin-bottom:0pt;margin-top:6pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has limited risks, including no inventory risk and limited credit risk.</p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has also evaluated its agreements with content providers, and has concluded that it is the principal under these agreements. Accordingly, payments to content providers are reported as cost of revenues. </p></div> | ||
| us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div> <p style="margin-bottom:0pt;margin-top:18pt;line-height:11pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentrations of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;line-height:11pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments which potentially subject us to concentration of credit risk consist principally of cash and cash equivalents, and accounts receivable. We have placed cash and cash equivalents at high credit-quality institutions. In our content business most of our sales are made directly to large national mobile phone carriers. In our advertising business most of our sales are made either directly to advertisers or through advertising aggregators. We have a significant level of business and resulting significant accounts receivable balance with one operator and therefore have a high concentration of credit risk with that operator. We perform ongoing credit evaluations of our customers and maintain an allowance for potential credit losses. As of December 31, 2014, three major customers represented approximately 38.2%, 11.1% and 9.7% of our gross accounts receivable outstanding, and 49.1%, 2.7% and 13.4% of our gross accounts receivable outstanding as of March 31, 2014, respectively. These three customers and one other customer accounted for 53.1%, 7.0%, 13.5% and 6.7% of our gross revenues during the nine month period ended December 31, 2014 and 40.6%, 8.8%, 23.2% and 10.8% of our gross revenues during the nine month period ended December 31, 2013. </p></div> | ||
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Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent asset and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. The most significant estimates relate to revenues for periods not yet reported by carriers, accounts receivable allowances, and stock-based compensation expense. </p></div> | ||
| CY2014Q4 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
409000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1906000 | ||
| CY2012Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
| CY2012Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | |
| us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
On March 28, 2013 and April 9, 2013, the Company filed a Certificate of Amendment and Certificate of Correction of Certificate of Amendment of its Certificate of Incorporation (the “Certificate of Amendment”), with the Secretary of State of the State of Delaware, to effect a 1-for-5 reverse stock split of the Company’s common stock (the “Reverse Stock Split”). The Certificate of Amendment, as corrected, became effective as of April 12, 2013. | ||
| us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.2 | ||
| CY2014 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
33300000 | |
| CY2014Q4 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
922388 | |
| CY2013Q4 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
1717450 | |
| us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
1156597 | ||
| us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
1847304 | ||
| CY2014 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | |
| CY2014 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
154000 | |
| CY2014Q4 | us-gaap |
Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
|
0 | |
| us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
0 | ||
| us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
0 | ||
| CY2014Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
3655548 | |
| CY2014Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
|
1030609 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3345000 | ||
| CY2013Q1 | us-gaap |
Goodwill
Goodwill
|
3588000 | |
| CY2014 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
1182000 | |
| CY2014 | us-gaap |
Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
|
142000 | |
| CY2014 | us-gaap |
Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
|
209000 | |
| CY2014Q2 | us-gaap |
Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
|
1472000 | |
| CY2014Q2 | us-gaap |
Goodwill
Goodwill
|
6309000 | |
| us-gaap |
Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
|
1500000 | ||
| CY2014Q4 | us-gaap |
Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
|
11127000 | |
| CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
3123000 | |
| CY2014Q1 | us-gaap |
Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
|
11098000 | |
| CY2014Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
2024000 | |
| CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
1677000 | |
| CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
1673000 | |
| CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
1622000 | |
| CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
976000 | |
| CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
692000 | |
| CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
1364000 | |
| CY2013Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
4757000 | |
| CY2014 | us-gaap |
Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
|
6826000 | |
| CY2014 | us-gaap |
Indefinite Lived Intangible Assets Written Off Related To Sale Of Business Unit
IndefiniteLivedIntangibleAssetsWrittenOffRelatedToSaleOfBusinessUnit
|
586000 | |
| CY2014Q4 | us-gaap |
Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
|
1500000 | |
| CY2014Q2 | us-gaap |
Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
|
60000 | |
| CY2014Q2 | us-gaap |
Business Acquisition Share Price
BusinessAcquisitionSharePrice
|
4.00 | |
| CY2014 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1769000 | |
| CY2014Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
345000 | |
| CY2014Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
7257000 | |
| CY2014Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
344000 | |
| CY2014Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
6913000 | |
| CY2014 | us-gaap |
Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
|
1000000 | |
| CY2014Q4 | apps |
Escrow Deposit Of Common Stock
EscrowDepositOfCommonStock
|
50000 | |
| CY2014Q4 | us-gaap |
Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
|
10 | |
| us-gaap |
Preferred Stock Contract Terms
PreferredStockContractTerms
|
The Series A holders are entitled to: (1) vote on an equal per share basis as common stock, (2) dividends paid to the common stock holders on an as if-converted basis and (3) a liquidation preference equal to the greater of $10 per share of Series A (subject to adjustment) or such amount that would have been paid to the common stock holders on an as if-converted basis. | ||
| CY2014Q3 | apps |
Stock Issued During Period Shares Common Stock Warrants Exercised
StockIssuedDuringPeriodSharesCommonStockWarrantsExercised
|
300000 | |
| CY2014Q3 | apps |
Warrants Exercised
WarrantsExercised
|
300000 | |
| CY2014 | apps |
Compensation Expense Related Restricted Shares
CompensationExpenseRelatedRestrictedShares
|
5784000 | |
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
| CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
379000 | |
| CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
282000 | |
| CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
270000 | |
| CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
300000 | |
| CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
300000 | |
| CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
900000 | |
| CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
2431000 | |
| us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
456000 | ||
| us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
380000 | ||
| CY2014Q4 | us-gaap |
Other Commitment Due In Next Twelve Months
OtherCommitmentDueInNextTwelveMonths
|
890000 | |
| CY2014Q4 | us-gaap |
Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
|
550000 | |
| CY2014Q4 | us-gaap |
Other Commitment
OtherCommitment
|
1440000 | |
| CY2013Q2 | us-gaap |
Bankruptcy Claims Amount Of Claims Filed
BankruptcyClaimsAmountOfClaimsFiled
|
19200000 | |
| CY2013Q2 | us-gaap |
Bankruptcy Claims Amount Of Claims Filed
BankruptcyClaimsAmountOfClaimsFiled
|
5300000 |
