Sophon Microcap Atlas

Digital Turbine (APPS) — From Integration to Inflection

Continuing Coverage | October 2025

Sophon Capital Research's avatar
Sophon Capital Research
Oct 04, 2025
∙ Paid
3
Share

Digital Turbine’s stock has quietly begun to rebuild credibility after a multiyear collapse that saw shares fall nearly 90% from peak to trough. Our initiating coverage framed the company as a fundamentally scalable, margin-rich business trapped in a cyclical storm — with temporary headwinds in digital ad spend, sluggish smartphone upgrades, and postpaid fatigue masking a structurally advantaged model. After talking to a major shareholder (single digit % of float) of the name, we decided to re-visit it and pen this continuing coverage note, as well as build a position in the name within our model portfolio.

Keep reading with a 7-day free trial

Subscribe to Sophon Microcap Atlas to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Sophon Capital Research
Privacy ∙ Terms ∙ Collection notice
Start your SubstackGet the app
Substack is the home for great culture