Digital Turbine Inc

For the period ended Mar 31, 2025. Filed Jun 16, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Jun 16, 2025

APPS$7.25-35.8%Stored close · as of Nov 10, 2026

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Contents

Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS

Consolidated Statements of Cash Flows

(in thousands)

	Year ended March 31,
	2025	2024	2023
Cash flows from operating activities
Net (loss) income	$(92,099)	$(420,448)	$16,870
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	82,910	83,858	81,073
Non-cash interest expense	1,835	102	836
Allowance for credit losses	2,767	3,202	3,328
Stock-based compensation expense	33,543	33,763	30,401
Foreign exchange transaction gain	(1,297)	(101)	(1,026)
Change in fair value of contingent consideration	300	(372)	—
Noncash lease expense	3,179	3,029	5,661
Impairment of goodwill	—	336,640	—
(Increase) decrease in assets:
Accounts receivable, gross	5,823	(19,251)	83,893
Prepaid expenses	777	688	49
Value-added tax receivable	(3,570)	(4,356)	11,911
Other current assets	613	(1,931)	(3,953)
Right-of-use asset	(3,928)	(2,123)	—
Other non-current assets	939	(5,194)	(636)
Increase (decrease) in liabilities:
Accounts payable	(19,345)	40,190	(48,831)
Accrued revenue share	1,418	(34,955)	(26,002)
Accrued compensation	298	(3,552)	(18,228)
Other current liabilities	2,410	14,335	(10,044)
Deferred income taxes	(4,054)	6,900	(6,039)
Other non-current liabilities	(639)	(1,747)	(5,887)
Net cash provided by operating activities	11,880	28,677	113,376
Cash flows from investing activities
Equity investments	—	(19,634)	(8,499)
Business acquisition, net of cash acquired	—	65	(2,708)
Capital expenditures	(27,477)	(24,279)	(23,858)
Net cash used in investing activities	(27,477)	(43,848)	(35,065)
Cash flows from financing activities
Proceeds from borrowings	38,000	50,000	25,500
Payment of debt issuance costs	(1,627)	—	(99)
Repayment of debt obligations	(13,000)	(77,134)	(149,000)
Acquisition of non-controlling interest in consolidated subsidiaries	—	(3,751)	—
Payment of withholding taxes for net share settlement of equity awards	(465)	(1,286)	(6,709)
Options exercised	373	2,871	2,020
Net cash provided by (used in) financing activities	23,281	(29,300)	(128,288)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(1,205)	2,518	(1,627)
Net change in cash, cash equivalents, and restricted cash	6,479	(41,953)	(51,604)
Cash, cash equivalents, and restricted cash, beginning of period	33,605	75,558	127,162
Cash, cash equivalents, and restricted cash, end of period	$40,084	$33,605	$75,558

Consolidated Statements of Cash Flows

(in thousands)

	Year ended March 31,
	2025	2024	2023
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents	$39,393	$32,916	$75,058
Restricted cash	691	689	500
Total cash, cash equivalents and restricted cash	$40,084	$33,605	$75,558
Supplemental disclosure of cash flow information
Interest paid	$35,583	$30,716	$20,187
Income taxes paid	$7,150	$1,529	$5,658
Supplemental disclosure of non-cash activities
Assets acquired not yet paid	$519	$546	$445
Right-of-use assets acquired under operating leases	$4,096	$2,683	$—
Common stock issued for the acquisition of Fyber	$—	$—	$50,000
Fair value of unpaid contingent consideration in connection with business acquisitions	$1,664	$2,366	$2,738

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