Digital Turbine, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Earnings per Share

Earnings per Share

12 Months Ended

Mar. 31, 2023

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 1,390,650, 559,190, and 62,507 for the years ended March 31, 2023, 2022, and 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 per share of common stock (in thousands, except per share amounts):


	Year ended March 31,
		2023		2022		2021
Net income		16,870		35,569		54,884
Less: net income attributable to non-controlling interest		197		23		—
Net income attributable to Digital Turbine, Inc.		$	16,673	$	35,546	$	54,884
Weighted-average common shares outstanding, basic		98,783		95,198		88,514
Basic net income per common share attributable to Digital Turbine, Inc.		$	0.17	$	0.37	$	0.62
Weighted-average common shares outstanding, diluted		101,816		102,640		96,151
Diluted net income per common share attributable to Digital Turbine, Inc.		$	0.16	$	0.35	$	0.57