Digital Turbine, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Earnings (Loss) Per Share

Earnings (Loss) Per Share

6 Months Ended

Sep. 30, 2026

The following table sets forth the computation of basic and diluted net income (loss) per share of common stock:


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
	(in thousands, except per share amounts)
Basic income (loss) per share:
Numerator:
Net income (loss)	$	10,283	$	(21,395)	$	(2,981)	$	(35,499)


Denominator:
Weighted average common shares outstanding, basic	121,286		109,128		120,979		107,885

Basic net income (loss) per common share	$	0.08	$	(0.20)	$	(0.02)	$	(0.33)

Diluted income (loss) per share:
Numerator:
Net income (loss), basic	$	10,283	$	(21,395)	$	(2,981)	$	(35,499)
Unrealized (gain) loss on derivatives	(2,193)		—		—		—
Net income (loss), diluted	8,090		(21,395)		(2,981)		(35,499)
Denominator:
Weighted average common shares outstanding, basic	121,286		109,128		120,979		107,885
Dilutive effect of potential common shares relating to unvested share awards	7,263		—		—		—
Dilutive effect of potential common shares from the 2025 Warrants	676		—		—		—
Weighted average common shares outstanding, diluted	129,225		109,128		120,979		107,885

Diluted net income (loss) per common share	$	0.06	$	(0.20)	$	(0.02)	$	(0.33)

When calculating diluted net income (loss) per share, the Company is required under ASC Topic 260 Earnings Per Share (“ASC 260”) to adjust net income (loss) for the effect of items relating to dilutive potential common shares. The Company has identified its unvested restricted stock units, performance stock units, and stock options, in addition to the 2025 Warrants (as described further in Note 9—Debt), as potentially dilutive securities.

For the three months ended September 30, 2026, the Company adjusted its reported net income by the effect of unrealized gain on derivatives in the amount of $2.2 million, as the 2025 Warrants were in the money and considered dilutive shares in the earnings per share calculation. For the three months ended September 30, 2025 and six months ended September 30, 2026 and 2025, the Company excluded the impact of the unrealized loss on derivatives for its 2025 Warrants, notwithstanding the warrants being in the money, because the Company remained in a net loss position and the warrant holders do not share in the Company’s net loss under the two-class method.

Anti-dilutive outstanding securities were excluded from the computation of diluted net income (loss) per share, as follows:


	Three Months Ended September 30,		Six Months Ended September 30,
	2026	2025	2026	2025
Anti-dilutive outstanding securities	1,195,347	4,784,947	8,477,222	4,770,940