Its guidance led to some investor confusion, as the company had previously said it would be restating its fiscal 2022 quarters to reflect recognizing revenue on a net basis, for certain product lines of recently acquired businesses, rather than a previous gross basis. Our iOS share of revenues is now approximately 20% of total revenues, and less than 5% of that is tied to budgets explicitly linked to IDFA." Overall, "we can conclude that our business really saw little impact from the Apple changes. I think I kind of equate this time a little bit to when IDFA came out a year ago." The company was insulated more than peers, he says, "because everything that we do has to generate a return on ad spend, so those - we tend to get those dollars in those budgets because we can correlate that dollar directly back to what an advertiser spent with us." On the earnings call, CEO Bill Stone alluded to some weakness the company was seeing: "I think that we're seeing some ad spend softness, as many others have talked about in Europe. Revenue of $184.1 million was up 94% as reported, but up 19% on a pro forma basis (as though it had owned AdColony and Fyber for all of fiscal 20 the businesses were acquired on April 29, 2021, and May 25, 2021, respectively). Non-GAAP EPS of $0.39 a share was in line with expectations. It's expecting to file the 10-K within the 15-day grace period. That weakness is tied to the presentation of certain revenue net of license fees and revenue share expense and the classification of certain hosting costs. The company also delayed its annual report filing after identifying a material weakness in internal controls over financial reporting. Digital Turbine ( NASDAQ: APPS) has slid 19.4% in early Wednesday action after its fourth-quarter earnings report, where an accounting change added some confusion to comparisons.
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