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Description of Stock Plans (Tables) | 3 Months Ended
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Jun. 30, 2018
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, 2018 |  | 9,741,969 |  |  | $ | 2.08 |  |  | 7.82 |  | $ | 6,286 |
Granted |  | 1,198,425 |  |  | 1.68 |  |  |  |  |
Forfeited / Cancelled |  | (388,570 | ) |  | 9.59 |  |  |  |  |
Exercised |  | (150,001 | ) |  | 0.79 |  |  |  |  |
Options Outstanding, June 30, 2018 |  | 10,401,823 |  |  | 1.77 |  |  | 7.99 |  | 2,960 |
Vested and expected to vest (net of estimated forfeitures) at June 30, 2018 (a) |  | 8,549,126 |  |  | 1.88 |  |  | 7.77 |  | 2,268 |
Exercisable, June 30, 2018 |  | 4,642,180 |  |  | $ | 2.43 |  |  | 6.94 |  | $ | 743 |
(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 June 30, 2018 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 June 30, 2018. 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 June 30, 2018 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 |  | 6,618 |  |  | $ | 0.24 |  |  | 1.74 |  | 6,618 |  |  | $ | 0.24 |
$0.51 - 1.00 |  | 2,971,934 |  |  | $ | 0.73 |  |  | 8.36 |  | 555,511 |  |  | $ | 0.74 |
$1.01 - 1.50 |  | 2,737,634 |  |  | $ | 1.28 |  |  | 7.97 |  | 1,421,057 |  |  | $ | 1.29 |
$1.51 - 2.00 |  | 1,586,370 |  |  | $ | 1.65 |  |  | 9.52 |  | 197,055 |  |  | $ | 1.53 |
$2.01 - 2.50 |  | 709,267 |  |  | $ | 2.22 |  |  | 9.29 |  | 122,735 |  |  | $ | 2.33 |
$2.51 - 3.00 |  | 853,200 |  |  | $ | 2.61 |  |  | 6.09 |  | 809,696 |  |  | $ | 2.62 |
$3.51 - 4.00 |  | 765,300 |  |  | $ | 3.96 |  |  | 6.22 |  | 765,300 |  |  | $ | 3.96 |
$4.01 - 4.50 |  | 661,500 |  |  | $ | 4.15 |  |  | 6.16 |  | 657,333 |  |  | $ | 4.15 |
$4.51 - 5.00 |  | 60,000 |  |  | $ | 4.65 |  |  | 4.74 |  | 60,000 |  |  | $ | 4.65 |
$5.01 and over |  | 50,000 |  |  | $ | 5.89 |  |  | 6.20 |  | 46,875 |  |  | $ | 5.89 |
|  | 10,401,823 |  |  |  |  |  |  | 4,642,180 |  |  |
Schedule of Intrinsic Value of stock option | Other information pertaining to stock options for the Stock Plans for the three months ended June 30, 2018 and 2017, as stated in the table below, is as follows:
|  | June 30,
|  | 2018 |  | 2017
Total fair value of options vested |  | $ | 404 |  |  | $ | 597 |
Total intrinsic value of options exercised (a) |  | $ | 115 |  |  | $ | 4 |
(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 three months ended June 30, 2018 and 2017.
Fair Value Inputs, Liabilities, Quantitative Information | The market-based assumptions and estimates used in valuing the convertible note embedded derivative liability include amounts in the following amounts:
| June 30, 2018
Stock price volatility | 65 | %
Probability of change in control | 1.75 | %
Stock price (per share) | $1.51
Expected term | 2.25 years |
Risk-free rate (1) | 2.51 | %
Assumed early conversion/exercise price (per share) | $2.73
(1) The Monte Carlo simulation assumes the continuously compounded equivalent (CCE) interest rate of 1.0% based on the average of the 2-year and 3-year U.S. Treasury securities as of the valuation date. The market-based assumptions and estimates used in valuing the warrant liability include amounts in the following amounts:
| June 30, 2018
Stock price volatility | 65 | %
Probability of change in control | 1.75 | %
Stock price (per share) | $1.51
Expected term | 2.25 years |
Risk-free rate (1) | 2.51 | %
Assumed early conversion/exercise price (per share) | $2.73
(1) The Monte Carlo simulation assumes the continuously compounded equivalent (CCE) interest rate of 1.0% based on the average of the 2-year and 3-year U.S. Treasury securities as of the valuation date. The assumptions utilized in this model for options granted during the three months ended June 30, 2018 are presented below.
|  | June 30, 2018
Risk-free interest rate |  | 2.79% to 2.85%
Expected life of the options |  | 5.65 to 9.94 years
Expected volatility |  | 66%
Expected dividend yield |  | —%
Expected forfeitures |  | 29%

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