Digital Turbine, Inc.

Other than the risk described below, the Company is not aware of any material changes to the risk factors set forth under Part I, Item 1A, “Risk Factors,” in its Annual Report on Form 10-K for the fiscal year ended March 31, 2026, filed with the Securities and Exchange Commission on May 26, 2026.

Changes to the policies, technologies, practices of, or the laws and regulations that govern, third-party platforms and other ecosystem participants could materially limit our ability to deliver, measure and monetize advertising.

Our advertising and app distribution businesses depend on operating systems, app stores, devices, publishers or other supply-side partners, and advertising and measurement technologies controlled by third parties, including Google, Apple, OEMs and wireless carriers. These parties have broad discretion to adopt, change, interpret, and enforce their terms of service, policies, technical standards, application programming interfaces (“APIs”) and fees, often with little or no notice, and their decisions may favor their own products and services and may not align with our interests or those of our customers and partners.

Changes or other actions by these parties that could adversely affect our business and ability to monetize advertising or impact the value of our services include, among others: restrictions on device identifiers and tracking (such as Apple’s App Tracking Transparency framework and evolving Google restrictions on the Android Advertising ID, including the development of Google’s Privacy Sandbox for Android); publishers or supply-side platforms limiting the data we receive in response to privacy laws or other legal or industry developments; modifications to app store policies, preinstallation rules, or fee structures; updates to operating system permissions, defaults, or software development kits and API availability; policy changes by device manufacturers and operating systems pertaining to the enablement of app installs, driven by recent age verification laws; platform enforcement actions against us or our partners; and competitive conduct by platform operators that favor their own advertising products. Regulatory and legal developments, including antitrust proceedings and remedies involving Google and Apple, the European Union’s Digital Markets Act, and privacy laws, may also prompt platform changes that are difficult to predict.

Any of these changes could reduce the availability or quality of data used for targeting, attribution, and optimization, lower advertiser demand and the prices we can charge, restrict or eliminate our access to distribution channels or partners, cause carriers or OEMs to reduce or terminate their use of our products, or require us to make costly modifications to our products and business practices on short timelines. Losing access to data, ad bidding, or digital ad space could substantially reduce our revenue. We may not be able to anticipate or adapt to these changes in a timely or cost-effective manner, and our investments in alternative solutions, such as contextual targeting, first-party data and privacy-preserving measurement, may not be successful. Any of the foregoing could materially and adversely affect our business, financial condition, and results of operations.