Digital Turbine, Inc.APPS

Digital Turbine, Inc. Leases Disclosure

10-KFiled Jun 16, 20252 min read
Leases
The Company has entered into or assumed through acquisitions, various non-cancellable operating lease agreements primarily for office space. These lease agreements expire between fiscal years 2026 and 2030 and, in certain cases, include one or more options to renew. The Company recognizes a right-of-use (“ROU”) asset and lease liability at the lease commencement date based on the estimated present value of lease payments over the lease term. Variable lease payments consisting of non-lease component and services are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation is incurred.
Leases are classified on the balance sheet as follows:
March 31, 2025March 31, 2024
Operating lease right-of-use assets
$9,924$9,127
Current operating lease liabilities
3,3903,038
Non-current operating lease liabilities
6,1115,746
Weighted-average remaining terms3.38 years3.58 years
Weighted-average discount rate5.40 %3.55 %
The current portion of the Company’s lease liabilities, payable within the next twelve months, is included in other current liabilities, and the long-term portion of the Company’s lease liabilities is included in other non-current
liabilities on the consolidated balance sheet.
Schedule, by fiscal year, of maturities of lease liabilities as of:
March 31, 2025
Fiscal year 2026$3,588 
Fiscal year 20272,897 
Fiscal year 20281,931 
Fiscal year 20291,668 
Fiscal year 2030314 
Thereafter— 
Total undiscounted cash flows10,398 
(Less imputed interest)(895)
Present value of lease liabilities$9,503 
During the years ended March 31, 2025, 2024, and 2023, expenses related to operating leases were $5,544, $4,953, and $6,854, respectively, and were included in operating expenses.
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About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

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