v3.25.2
Subsequent Events
12 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
The Company evaluated subsequent events through the issuance date of the accompanying condensed consolidated financial statements, which was June 16, 2025. There were no events or transactions during the subsequent event reporting period that required disclosure in the condensed consolidated financial statements, other than:

The Company entered into a Fifth Amendment to the Amended and Restated Credit Agreement on June
13, 2025 to extend the maturity date of the Amended and Restated Credit Agreement from April 29, 2026 to August
29, 2026, revise certain covenants and address certain other matters. The Fifth Amendment removed the
incremental term loan facility, reduced the amount of the Revolver from $425,000 to $411,000, increased the SOFR
and letter of credit fee to 5.5%, and the base rate to 4.5% through August 29, 2025 with increases to 7.5% and
6.5%, respectively, after August 29, 2025, removed the consolidated interest coverage ratio, put in place a
decreasing consolidated secured net leverage ratio starting at 5.25 and decreasing to 4.00 on and after June 30,
2026 and an increasing fix charge coverage ratio starting at 1.10 increasing to 1.30 on and after June 30, 2026,
requires mandatory prepayments of net cash proceeds from equity issuances and certain other extraordinary
receipts, and added certain covenants, including additional monthly reporting obligations, quarterly projections,
biweekly 13-week cash flow forecast reporting, and access rights. The Company granted the lenders a security
interest in additional assets, including the issued and outstanding equity of certain foreign subsidiaries, including
Digital Turbine (EMEA) LTD., Fyber B.V. and Digital Turbine (IL) Ltd. The Company is required to pay an
amendment fee equal to $8,220 at closing, $10,275 on September 2, 2025 and $1,027 due and payable at the end
of each fiscal quarter (beginning on the fiscal quarter ending on September 30, 2025) until the earlier of maturity and the date the facility is repaid in full. In addition, the Company is required to pay an additional administrative collateral monitoring fee of $2,000 if certain closing deliveries with respect to the additional collateral are not satisfied within the timeframe set forth in the Fifth Amendment.