Joshua Kinsell
Digital TurbineAbout Joshua Kinsell
Joshua Kinsell, age 40, is Chief Accounting Officer (CAO) at Digital Turbine (APPS) since April 8, 2024. He is a CPA with a BBA and Master of Accountancy from Baylor University, and previously held senior accounting leadership roles at HighRadius (CAO), Boomi (CAO), SailPoint (Controller), and Deloitte (senior audit manager) . Company performance during FY2025 (year ended March 31, 2025) was challenging: net revenue $490.5 million and adjusted EBITDA $72.3 million; total shareholder return (TSR) on a $100 initial investment measured by the proxy’s methodology was $62.99, reflecting multi-year pressure on equity-linked pay outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| HighRadius Corp. | Chief Accounting Officer | Feb 2023 – Apr 2024 | Led accounting operations and controllership for cloud fintech; scaled finance controls and reporting |
| Boomi, LP | Chief Accounting Officer | Dec 2021 – Feb 2023 | Established controllership in private equity-backed software setting; upgraded close and compliance processes |
| SailPoint Technologies, Inc. | Controller | Mar 2020 – Dec 2021 | Drove identity security firm’s accounting function and SOX rigor during growth phase |
| Deloitte LLP | Senior Audit Manager | Prior to industry roles | Led audit engagements; built technical accounting, internal controls, and PCAOB/SEC readiness expertise |
External Roles
- No public company board or external directorships disclosed for Kinsell .
Fixed Compensation
| Component | FY2025 Detail |
|---|---|
| Base Salary | $300,000; increased to $315,000 in July 2025 for retention |
| Target Bonus % | 40% of base salary (company-wide CAO framework); discretionary based on Company and individual performance |
| Actual Bonus Paid (FY2025) | $0 (company did not meet threshold revenue and adjusted EBITDA goals; plan not funded) |
| Retention Cash Bonus | $100,000 approved July 2025; paid $50,000 at 6 months and $50,000 at 12 months if employed on payment dates |
| All Other Compensation | $28,160 (benefits and 401(k) match) |
Performance context and implications:
- APPS missed FY2025 revenue and adjusted EBITDA thresholds that fund annual bonuses; as a result, no bonus was paid to the CAO for FY2025 .
- For FY2026, the company-wide bonus plan moved to semiannual payouts and uses adjusted EBITDA as the sole performance measure, with clawback of H1 payouts based on full-year results .
Performance Compensation
| Metric | Weighting | Target | Actual (FY2025) | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual Cash Incentive (CAO) | Discretionary, anchored to Company revenue and adjusted EBITDA | 40% of base salary | Company did not meet thresholds | $0 | Annual; FY2025 plan not funded |
| PSUs | Not applicable for CAO | — | — | — | — (CAO awards were time-based RSUs) |
Company performance reference:
- Net Revenue: $490,506,000 (FY2025)
- Adjusted EBITDA: $72,308,000 (FY2025)
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 300,866 shares; less than 1% of common shares outstanding (table includes vested and unvested RSUs for executives as noted) |
| Vested vs Unvested (as of 3/31/2025) | Vested: 69,767 shares (value realized on vesting $154,186 in FY2025) ; Unvested: 229,572 RSUs (209,302 new-hire RSUs; 20,270 retention RSUs) |
| Option Holdings | None disclosed for CAO |
| RSU Grants (new-hire) | 279,069 RSUs granted Apr 8, 2024; vest in equal quarterly installments over 36 months |
| RSU Grants (retention) | 20,270 RSUs granted Oct 29, 2024; 50% vest on first anniversary; remainder vests quarterly to second anniversary |
| Ownership Guidelines | Company guidelines disclosed for CEO (5x salary) and COO (2x); no explicit CAO guideline disclosed . Director guideline is 3x cash retainer . |
| Pledging/Hedging | Short sales and hedging prohibited; pledging only permitted (non-margin) if financial capacity to repay without resort to pledged securities is clearly demonstrated . No pledging by Kinsell disclosed . |
Insider selling pressure signals:
- Quarterly RSU vesting cadence (new-hire award) and a 50% cliff on Oct 29, 2025 for the retention RSU can create predictable vesting-related supply when trading windows open (subject to blackout periods and the insider trading policy) .
Employment Terms
| Provision | Detail |
|---|---|
| Start Date & Tenure | Appointed CAO on April 8, 2024 |
| Employment Agreement | No individual employment agreement for CAO disclosed in proxy; executives are generally at-will unless specified otherwise |
| Severance | No CAO-specific severance provisions disclosed; all employees receive accrued compensation upon termination per proxy |
| Change-of-Control | Under Equity Incentive Plans, all unvested equity awards become fully vested upon a change of control; would apply to CAO RSUs |
| Clawback | Compensation Recoupment Policy requires clawback of excess incentive-based compensation after accounting restatements (covers officers designated under Rule 16a-1(f)) |
| Non-Compete/Non-Solicit | Not disclosed for CAO |
| Insider Trading Policy | Quarterly blackout periods; prohibits shorting/derivatives; limited pledging conditions |
Investment Implications
- Pay-for-performance alignment: The CAO’s FY2025 cash incentive paid $0 due to missed company revenue and adjusted EBITDA thresholds; equity grants are time-based rather than performance-contingent, which moderates alignment sensitivity to operating outcomes versus PSUs used for other roles .
- Retention risk: Base pay was increased to $315,000 in July 2025, and a $100,000 cash retention bonus was added—signals proactive retention in finance leadership amid operational turnaround and cost discipline .
- Trading signals: Quarterly RSU vesting and a sizable cliff vest in late 2025 could add vesting-related supply when windows open; policy-imposed blackout periods and hedging/short-sale prohibitions temper opportunistic trading behavior .
- Change-of-control leverage: Full acceleration of unvested RSUs on change-of-control increases realized compensation and could incentivize continuity through a transaction; absence of disclosed CAO severance suggests equity is the primary transaction-linked value lever .
- Governance and clawbacks: A formal recoupment policy and strict insider trading rules reduce misalignment risks and support investor confidence in financial reporting under the CAO’s oversight .
Reference performance context: FY2025 net revenue $490.5M and adjusted EBITDA $72.3M; TSR value was $62.99, indicating constrained equity value creation over the period, aligning with zero FY2025 cash bonus outcomes across executives tied to Company thresholds .
Citations:
- Appointment, background, education:
- FY2025 performance (Revenue, Adjusted EBITDA, TSR):
- Base salary, increase, bonus framework and outcome:
- Retention cash bonus:
- RSU grants and vesting schedules:
- Beneficial ownership and percent:
- Vested/unvested breakdown and value realized on vesting:
- Ownership guidelines (CEO/COO; directors):
- Insider trading policy and pledging constraints:
- Employment agreements coverage (not including CAO) and general termination provisions:
- Change-of-control equity acceleration: