2021, A Year of Increased Penetration for Digital Turbine (APPS) Says Greenhaven Road Capital
February 2, 2021
Greenhaven Road Capital, an investment management firm, published its fourth-quarter 2020 Investor Letter – a copy of which can be downloaded here. A spectacular net return of 105% was recorded by the fund for the year-end 2020, outperforming its Russell 2000 benchmark that returned 9.4%. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Greenhaven Road Capital, in their Q4 2020 Investor Letter said that Digital Turbine, Inc. (NASDAQ: APPS) is part of their top 5 holdings. Digital Turbine, Inc. is a media and mobile communication products and solutions provider company that currently has a $5 billion market cap. For the past 3 months, APPS delivered a huge 90.14% return and settled at $57.21 per share at the closing of January 29th.
Here is what Greenhaven Road Capital has to say about Digital Turbine, Inc. in their investor letter: "2021 will be a year of increased penetration for Digital Turbine, which provides “a platform for simplified app and content discovery.” Digital Turbine software is installed on over 500M phones, and this total is increasing by 20M phones per month. Beyond getting paid for installing apps upon phone activation, the company is increasingly building additional revenue streams, such as providing content for carriers like Sprint. Signing on Verizon or AT&T for content or Sprint/T-Mobile for app installation would bring a substantial growth. In November, Digital Turbine noted, “[t]he Company currently has more than 10 million monetizable daily active users (DAUs) for its Content Media products and is actively in the process of extending the reach to additional carrier partners.” The growth in the content business, addition of new carriers, and further penetration into existing hardware manufacturers such as Samsung bode well for Digital Turbine." Link to article here.
Greenhaven Road Capital, in their Q4 2020 Investor Letter said that Digital Turbine, Inc. (NASDAQ: APPS) is part of their top 5 holdings. Digital Turbine, Inc. is a media and mobile communication products and solutions provider company that currently has a $5 billion market cap. For the past 3 months, APPS delivered a huge 90.14% return and settled at $57.21 per share at the closing of January 29th.
Here is what Greenhaven Road Capital has to say about Digital Turbine, Inc. in their investor letter: "2021 will be a year of increased penetration for Digital Turbine, which provides “a platform for simplified app and content discovery.” Digital Turbine software is installed on over 500M phones, and this total is increasing by 20M phones per month. Beyond getting paid for installing apps upon phone activation, the company is increasingly building additional revenue streams, such as providing content for carriers like Sprint. Signing on Verizon or AT&T for content or Sprint/T-Mobile for app installation would bring a substantial growth. In November, Digital Turbine noted, “[t]he Company currently has more than 10 million monetizable daily active users (DAUs) for its Content Media products and is actively in the process of extending the reach to additional carrier partners.” The growth in the content business, addition of new carriers, and further penetration into existing hardware manufacturers such as Samsung bode well for Digital Turbine." Link to article here.