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Description of Stock Plans (Tables) | 6 Months Ended
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Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of Options Granted | The following table summarizes stock option activity for the Stock Plans for the periods or as of the dates indicated:
|  | Number of Shares |  | Weighted Average Exercise Price (per share) |  | Weighted Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value (in thousands)
Options Outstanding, March 31, 2016 |  | 7,824,395 |  |  | $ | 3.61 |  |  | 8.24 |  | $ | 110 |
Granted |  | 1,037,000 |  |  | 1.13 |  |  |  |  |
Forfeited / Cancelled |  | (860,954 | ) |  | 0.64 |  |  |  |  |
Exercised |  | (18,038 | ) |  | 2.96 |  |  |  |  |
Options Outstanding, September 30, 2016 |  | 7,982,403 |  |  | 3.37 |  |  | 7.94 |  | 65 |
Vested and expected to vest (net of estimated forfeitures) at September 30, 2016 (a) |  | 6,413,005 |  |  | 3.69 |  |  | 7.67 |  | 64 |
Exercisable, September 30, 2016 |  | 3,498,410 |  |  | $ | 5.04 |  |  | 6.50 |  | $ | 61 |
(a) For options vested and expected to vest, options exercisable, and options outstanding, the aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between Digital Turbine's closing stock price on September 30, 2016 and the exercise price multiplied by the number of in-the-money options) that would have been received by the option holders, had the holders exercised their options on September 30, 2016. The intrinsic value changes based on changes in the price of the Company's common stock.
Exercise Price for Options Outstanding and Options Exercisable | Information about options outstanding and exercisable at September 30, 2016 is as follows:
|  | Options Outstanding |  | Options Exercisable
Exercise Price |  | Number of Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Life (Years) |  | Number of Shares |  | Weighted-Average Exercise Price
$0.00 - 0.50 |  | 8,065 |  |  | $ | 0.24 |  |  | 3.48 |  | 8,065 |  |  | $ | 0.24 |
$0.51 - 1.00 |  | 159,923 |  |  | $ | 0.70 |  |  | 6.50 |  | 136,136 |  |  | $ | 0.65 |
$1.01 - 1.50 |  | 2,852,559 |  |  | $ | 1.29 |  |  | 2.96 |  | 165,056 |  |  | $ | 1.26 |
$1.51 - 2.00 |  | 316,055 |  |  | $ | 1.51 |  |  | 9.10 |  | 74,250 |  |  | $ | 1.51 |
$2.01 - 2.50 |  | 253,776 |  |  | $ | 2.43 |  |  | 4.33 |  | 187,109 |  |  | $ | 2.41 |
$2.51 - 3.00 |  | 1,162,456 |  |  | $ | 2.62 |  |  | 8.01 |  | 657,341 |  |  | $ | 2.61 |
$3.51 - 4.00 |  | 1,332,314 |  |  | $ | 3.95 |  |  | 8.18 |  | 780,976 |  |  | $ | 3.95 |
$4.01 - 4.50 |  | 1,367,255 |  |  | $ | 4.20 |  |  | 7.08 |  | 984,477 |  |  | $ | 4.22 |
$4.51 - 5.00 |  | 60,000 |  |  | $ | 4.65 |  |  | 6.49 |  | 60,000 |  |  | $ | 4.65 |
$5.01 and over |  | 470,000 |  |  | $ | 16.32 |  |  | 2.26 |  | 445,000 |  |  | $ | 16.90 |
|  | 7,982,403 |  |  |  |  |  |  | 3,498,410 |  |  |
Schedule of Intrinsic Value of stock option | Other information pertaining to stock options for the Stock Plans for the six months ended, as stated in the table below, is as follows:
|  | September 30,
|  | 2016 |  | 2015
Total fair value of options vested |  | 2,452 |  |  | 2,847 |
Total intrinsic value of options exercised (a) |  | 8 |  |  | 110 |
(a) The total intrinsic value of options exercised represents the total pre-tax intrinsic value (the difference between the stock price at exercise and the exercise price multiplied by the number of options exercised) that was received by the option holders who exercised their options during the six months ended September 30, 2016 and 2015.
Fair Value of Options Granted Using the Black-Scholes Option-Pricing Model | The assumptions utilized in this model during three and six months ended September 30, 2016 are presented below.
|  | September 30, 2016
Risk-free interest rate |  | 1.06% to 1.69%
Expected life of the options |  | 5.69 to 9.93 years
Expected volatility |  | 86% to 130%
Expected dividend yield |  | —%
Expected forfeitures |  | 10% to 35%

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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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