Digital Turbine, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

Earnings per Share

9 Months Ended

Dec. 31, 2022

Basic net income per common share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding during the period.

Diluted net income per common share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding during the period and including the dilutive effects of employee stock-based awards outstanding during the period.

Stock options totaling 1,477,381 and 1,462,517 for the three and nine months ended December 31, 2022, respectively, and 296,254 and 448,121 for the three and nine months ended December 31, 2021, respectively, were outstanding but not included in the calculation of diluted earnings per share because inclusion of the options in the calculation would be antidilutive due to their exercise prices exceeding the average market price of the common shares during the periods.

The following table sets forth the computation of basic and diluted net income / (loss) per share of common stock (in thousands, except per share amounts):


	Three months ended December 31,				Nine months ended December 31,
	2022		2021		2022		2021
Net income	4,062		7,062		30,723		15,428
Less: net income / (loss) attributable to non-controlling interest	43		48		118		(18)
Net income attributable to Digital Turbine, Inc.	$	4,019	$	7,014	$	30,605	$	15,446
Weighted-average common shares outstanding, basic	99,108		96,548		98,623		94,620
Basic net income per common share attributable to Digital Turbine, Inc.	$	0.04	$	0.07	$	0.31	$	0.16
Weighted-average common shares outstanding, diluted	103,348		103,287		103,674		101,346
Diluted net income per common share attributable to Digital Turbine, Inc.	$	0.04	$	0.07	$	0.30	$	0.15