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Description of Stock Plans (Tables) | 6 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Summary of RSU Activity |
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value
Unvested restricted units outstanding as of March 31, 2020 |  | 293,525 |  |  | $ | 2.48 |
Granted |  | 109,034 |  |  | 6.42 |
Vested |  | (61,553) |  |  | 2.48 |
Cancelled |  | — |  |  | — |
Unvested restricted units outstanding as of September 30, 2020 |  | 341,006 |  |  | $ | 3.74 |
Summary of Stock Option Activity | The following table summarizes stock option activity for Digital Turbine's Incentive 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, 2020 |  | 8,984,430 |  |  | $ | 2.75 |  |  | 7.17 |  | $ | 16,517 |
Granted |  | 1,902,804 |  |  | 6.04 |  |  |  |  |
Forfeited / Cancelled |  | (139,630) |  |  | 5.19 |  |  |  |  |
Exercised |  | (1,283,656) |  |  | 2.74 |  |  |  |  |
Options Outstanding, September 30, 2020 |  | 9,463,948 |  |  | 3.38 |  |  | 7.30 |  | 277,897 |
Vested and expected to vest (net of estimated forfeitures) at September 30, 2020 (a) |  | 8,299,954 |  |  | 3.09 |  |  | 7.05 |  | 246,099 |
Exercisable, September 30, 2020 |  | 5,106,976 |  |  | $ | 2.40 |  |  | 6.13 |  | $ | 154,943 |
(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, 2020 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, 2020. The intrinsic value changes based on changes in the price of the Company's common stock.
Summary of Exercise Price | Information about options outstanding and exercisable at September 30, 2020 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
$0.51 - 1.00 |  | 1,431,764 |  |  | $ | 0.73 |  |  | 6.19 |  | 744,478 |  |  | $ | 0.74 |
$1.01 - 1.50 |  | 1,467,287 |  |  | $ | 1.29 |  |  | 5.85 |  | 1,433,161 |  |  | $ | 1.29 |
$1.51 - 2.00 |  | 820,727 |  |  | $ | 1.67 |  |  | 7.56 |  | 577,320 |  |  | $ | 1.66 |
$2.01 - 2.50 |  | 463,994 |  |  | $ | 2.25 |  |  | 7.52 |  | 297,857 |  |  | $ | 2.23 |
$2.51 - 3.00 |  | 468,500 |  |  | $ | 2.58 |  |  | 3.52 |  | 468,500 |  |  | $ | 2.58 |
$3.51 - 4.00 |  | 1,500,665 |  |  | $ | 3.88 |  |  | 7.59 |  | 791,063 |  |  | $ | 3.89 |
$4.01 - 4.50 |  | 402,000 |  |  | $ | 4.13 |  |  | 4.05 |  | 402,000 |  |  | $ | 4.13 |
$4.51 - 5.00 |  | — |  |  | $ | — |  |  | 0.00 |  | — |  |  | $ | — |
$5.01 and over |  | 2,909,011 |  |  | $ | 6.16 |  |  | 9.39 |  | 392,597 |  |  | $ | 5.82 |
|  | 9,463,948 |  |  | 3.38 |  |  | 7.30 |  | 5,106,976 |  |  | 2.40 |
Schedule of Options Vested and Intrinsic Value of Options Exercised | Other information pertaining to stock options for Digital Turbine's Incentive Plans for the six months ended September 30, 2020 and 2019, as stated in the table below, is as follows:
|  | September 30,
|  | 2020 |  | 2019
Total fair value of options vested |  | $ | 3,260 |  |  | $ | 953 |
Total intrinsic value of options exercised (a) |  | $ | 25,776 |  |  | $ | 6,881 |
(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, 2020 and 2019.
Schedule of Market-based Assumptions | The assumptions utilized in this model for options granted during the six months ended September 30, 2020 are presented below.
|  | September 30, 2020
Risk-free interest rate |  | 0.21% to 0.68%
Expected life of the options |  | 5.02 to 9.85 years
Expected volatility |  | 64% to 69%
Expected dividend yield |  | —%
Expected forfeitures |  | 28% to 29%

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