APPS — -23% premarket as margin squeeze offsets beat-and-raise

Digital Turbine is down about 23% premarket despite a headline beat-and-raise: non-GAAP EPS of $0.18 beat by 29% and revenue of $178.7M beat by 7%, and management raised fiscal 2027 revenue guidance to $670M-$690M. The problem is margins — adjusted EBITDA guidance was held flat at $145M-$155M while gross margin fell to 43% from 49% last quarter, so the extra revenue is arriving at thinner profit.