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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 10, 2024

 

 

 

Zedge, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   1-37782   26-3199071

(State or other jurisdiction

of incorporation)

   (Commission File Number)  

(IRS Employer

Identification No.)

 

1178 Broadway, Ste. 1450 (3rd Floor)

New York, NY

   10001
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (330) 577-3424

 

Not Applicable

(Former name or former address, if changed since last report.)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol  

Name of each exchange on which registered

Class B common stock, par value $0.01 per share   ZDGE   NYSE American

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 2.02. Results of Operations and Financial Condition

 

On June 10, 2024, Zedge, Inc. (the “Registrant”) issued a press release announcing its results of operations for its fiscal quarter ended April 30, 2024. A copy of the press release issued by the Registrant concerning the foregoing results is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

 

The Registrant is furnishing the information contained in this Report, including Exhibit 99.1, pursuant to Item 2.02 of Form 8-K promulgated by the Securities and Exchange Commission (the “SEC”). This information shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC unless otherwise expressly stated in such filing. In addition, this Report and the press release contain statements intended as “forward-looking statements” that are subject to the cautionary statements about forward-looking statements set forth in the press release.

 

Item 9.01 Financial Statements and Exhibits. 

 

(d) Exhibits.

 

Exhibit No.   Document
99.1   Earnings Release, dated June 10, 2024, reporting the results of operations for Zedge, Inc.’s fiscal quarter ended April 30, 2024.
     
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

1

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ZEDGE, INC.
     
  By: /s/ Jonathan Reich
  Name: Jonathan Reich
  Title: Chief Executive Officer

 

Dated: June 10, 2024

 

2

 

EXHIBIT INDEX

 

Exhibit No.   Document
99.1   Earnings Release, dated June 10, 2024, reporting the results of operations for Zedge, Inc.’s fiscal quarter ended April 30, 2024.
     
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

3

 

 

Exhibit 99.1

 

 

Zedge Announces Third Quarter Fiscal 2024 Results

 

14% total revenue growth and 35% subscription revenue growth

 

New York, NY – June 10, 2024: Zedge, Inc. (NYSE AMERICAN: ZDGE), a leader in building digital marketplaces and friendly competitive games around content that people use to express themselves, today announced results for its third quarter of fiscal 2024, ended April 30, 2024.

 

“Revenue growth accelerated from last quarter as advertising and subscription revenue showed strong growth across Zedge Marketplace’s Android and iOS offerings,” said Jonathan Reich, Zedge’s chief executive officer. “I’m especially encouraged that we followed up record quarterly revenue in Q2 with record Q3 revenue and that we did not see the customary post-holiday hangover. Our work to optimize our advertising stack continues to pay off, and iOS subscription revenue was up more than 11% sequentially. When combined with record Zedge Premium Gross Transaction Value1, which was up more than 44% from last year, we achieved record ARPMAU1 with 40% year-over-year growth.”

 

Third Quarter Highlights (fiscal 2024 versus fiscal 2023)

 

●Revenue increased 13.8% to $7.7 million;

 

●GAAP operating loss of ($0.1) million, compared to ($8.4) million;

 

oGAAP operating loss for the third quarter of 2023 included an $8.7 million non-cash write-down of goodwill;

 

●GAAP net income (loss) and earnings (loss) per share were $0.1 million and $0.01 compared to ($7.7) million and ($0.55), respectively, including the impact of the writedown in 2023:

 

●Non-GAAP net income2 and EPS2 were $0.5 million and $0.03 compared to $0.3 million and $0.02, respectively;

 

●Adjusted EBITDA2 of $0.9 million;

 

●Zedge Premium Gross Transaction Value1, or GTV, increased 44.4% to $0.59 million.

 

Third Quarter Select Financial Metrics: FY24 versus FY23*

 

(in $M except for EPS)  Q3 ’24   Q3 ’23   Change   FY24
YTD		   FY23
YTD		   Change 
Total Revenue  $7.7   $6.7    13.8%  $22.5   $20.6    9.2%
Advertising Revenue  $5.5   $4.6    19.4%  $15.9   $13.7    16.0%
Digital goods and services  $0.9   $1.1    -20.3%  $2.7   $3.7    -25.5%
Subscription Revenue  $1.1   $0.8    34.9%  $3.2   $2.6    22.6%
Other Revenue  $0.2   $0.2    -11.2%  $0.7   $0.7    9.0%
GAAP Operating Loss  $(0.1)  $(8.4)   nm   $(11.7)  $(7.2)   nm 
Operating Margin   -1.7%   -125.1%        -52.2%   -34.7%     
GAAP Net Income (Loss)  $0.1   $(7.7)   nm   $(9.1)  $(6.3)   nm 
GAAP Diluted Earnings (Loss) Per Share  $0.01   $(0.55)   nm   $(0.65)  $(0.45)   nm 
Non-GAAP Net Income  $0.5   $0.3    59.7%  $1.5   $1.3    13.3%
Non- GAAP Diluted EPS  $0.03   $0.02    54.0%  $0.11   $0.09    14.9%
Adjusted EBITDA  $0.9   $1.7    -50.0%  $3.9   $4.1    -3.8%
Cash Flow from Operations  $2.3   $1.6    44.5%  $5.2   $2.7    87.9%

 

nm = not measurable/meaningful

 

*numbers may not add due to rounding

 

 

 

 

Select Zedge Marketplace Metrics: FY24 versus FY23*

 

(in MM except for ARPMAU and where noted)  Q3 ’24   Q3 ’23   Change 
Total Installs - Cumulative   660.9    609.0    8.5%
MAU   27.7    32.0    -13.4%
Well-developed Markets   6.0    7.2    -16.7%
Emerging Markets   21.7    24.8    -12.5%
Active Subscriptions (in 000s)   654    631    3.6%
ARPMAU  $0.074   $0.053    39.7%
Zedge Premium - Gross Transaction Value (GTV)  $0.59   $0.41    44.4%

 

*numbers may not add due to rounding

 

Fiscal 2024 Commentary

 

Reich continued, “We believe we are still in the early stages of benefiting from the organizational and product changes we made in recent quarters in order to drive sustainable, profitable, long-term revenue growth. As we move forward, we expect to continue to test and optimize our paid and organic user acquisition strategies, in conjunction with introducing new features and content for existing products while innovating to bring new products to market.

 

“For the Zedge Marketplace, we are continuing to optimize our paid user acquisition investments for accelerating growth in both advertising and subscriptions. iOS remains a key focus here, and despite the hockey stick growth we are seeing, we remain diligent in finding ways to tap the significant potential of this market. For Emojipedia, we have a roadmap of new features and services that we plan to roll out over the next 12 months, including emoji mashups, emoji-based mini-games and other user enhancements that we believe will drive new users, increase engagement and enable monetization growth.

 

“GuruShots remains in transition, but I’m feeling optimistic about our initial progress and current roadmap for returning the game to growth. We recently began beta testing a fully redesigned onboarding flow in the Android app with the goal of both improving engagement and retention, as well as expanding our target market to attract a wider set of potential players. Additionally, we are introducing a new, coin-based economy in June. By transitioning to a coin-based economy with multiple virtual currencies, we can better reward all players in a controlled, bespoke manner to encourage higher engagement and in-app purchases. We believe the cumulative impact of these changes will play a key role in returning GuruShots to growth in the quarters to come.

 

“Overall, I’m optimistic that we are headed in the right direction across our product portfolio and believe that we will finish 2024 with strong momentum heading into fiscal 2025.”

 

1We use the following business metrics in this release because we believe they are useful in evaluating Zedge’s operational performance.

 

●Monthly active users, or MAU, captures the number of unique users that used our Zedge App during the previous 30 days of the relevant period, is useful for evaluating consumer engagement with our App, which correlates to advertising revenue as more users drive more ad impressions for sale. It also allows readers and potential advertisers to evaluate the size of our user base.

 

●Zedge Premium Gross Transaction Value, or GTV, is the total dollar amount of transactions conducted through Zedge Premium. As Zedge Premium is an internal focus for growth, we believe this metric will help investors evaluate our progress in growing this part of our business.

 

●Average Revenue Per Monthly Active User for our Zedge App, or ARPMAU, is useful in evaluating how well we monetize our user base.

 

●An Active Subscription is a subscription that has commenced and not been canceled, including paused subscriptions and subscriptions in free trials, grace periods, or account hold. This is important because it is a source of recurring revenue.

 

●Total Installs – Cumulative measures the number of times the Zedge App has been downloaded since inception.

 

2Throughout this release, Non-GAAP Net Income, Non-GAAP EPS and Adjusted EBITDA are non-GAAP financial measures intended to provide useful information that supplement Zedge’s results in accordance with GAAP. Please refer to the Reconciliation of Non-GAAP Financial measures at the end of this release for an explanation of Zedge’s formulations of Non-GAAP Net Income, Non-GAAP EPS and Adjusted EBITDA and reconciliations to the most directly comparable GAAP measures.

 

2

 

 

Trended Financial Information*

 

(in $M except for EPS, ARPMAU, Paid Subscriptions)  Q123   Q223   Q323   Q423   Q124   Q224   Q324   FY22   FY23   YTD FY24 
Total Revenue  $6.9   $7.0   $6.7   $6.6   $7.1   $7.8   $7.7   $26.5   $27.2   $22.5 
Advertising Revenue  $4.5   $4.6   $4.6   $4.6   $4.9   $5.5   $5.5   $20.3   $18.3   $15.9 
Digital goods and services  $1.3   $1.2   $1.1   $1.0   $0.9   $0.9   $0.9   $1.7   $4.6   $2.7 
Subscription Revenue  $0.9   $0.9   $0.8   $0.9   $1.0   $1.1   $1.1   $3.7   $3.5   $3.2 
Other Revenue  $0.2   $0.2   $0.2   $0.2   $0.2   $0.3   $0.2   $0.8   $0.8   $0.7 
GAAP Operating Income (Loss)  $(0.2)  $1.5   $(8.4)  $0.2   $0.3   $(11.9)  $(0.1)  $11.8   $(6.9)  $(11.7)
GAAP Net Income (Loss)  $(0.2)  $1.6   $(7.7)  $0.2   $(0.0)  $(9.2)  $0.1   $9.7   $(6.1)  $(9.1)
GAAP Diluted Earnings (Loss) Per Share  $(0.01)  $0.11   $(0.55)  $0.01   $0.00   $(0.66)  $0.01   $0.65   $(0.44)  $(0.65)
Non GAAP Net Income  $0.2   $0.8   $0.3   $0.6   $0.5   $0.5   $0.5   $8.8   $1.9   $1.5 
Non-GAAP Diluted EPS  $0.01   $0.06   $0.02   $0.04   $0.04   $0.04   $0.03   $0.59   $0.13   $0.11 
Adjusted EBITDA  $1.0   $1.4   $1.7   $1.6   $1.5   $1.5   $0.9   $12.4   $5.7   $3.9 
Adjusted EBITDA Margin   13.8%   20.5%   25.4%   24.2%   21.7%   19.9%   11.1%   46.6%   20.9%   17.5%
Cash Flow from Operations  $1.1   $0.0   $1.6   $0.4   $1.3   $1.6   $2.3   $11.5   $3.2   $5.2 
MAU   31.9    32.2    32.0    30.9    28.5    28.7    27.7    nm    nm    nm 
Well-developed Markets   7.1    7.4    7.2    6.8    6.2    6.2    6.0    nm    nm    nm 
Emerging Markets   24.8    24.8    24.8    24.1    22.3    22.5    21.7    nm    nm    nm 
Active Subscriptions (in 000s)   674    654    631    647    648    648    654    nm    nm    nm 
ARPMAU  $0.054   $0.052   $0.053   $0.055   $0.063   $0.072   $0.074    nm    nm    nm 
Zedge Premium – GTV  $0.31   $0.44   $0.41   $0.38   $0.42   $0.54   $0.59   $1.51   $1.54   $1.55 

 

nm = not measurable/meaningful

 

*numbers may not add due to rounding

 

3

 

 

Earnings Announcement and Supplemental Information

 

Management will host an earnings conference call beginning at 4:30 p.m. Eastern to discuss its results, outlook, and strategy, followed by a Q&A with investors.

 

Live Call-in Info:

 

Toll Free: 888-506-0062

International: 973-528-0011

Participant Access Code: 608154

Webcast URL: https://www.webcaster4.com/Webcast/Page/2205/50721

 

Replay:

 

Toll Free: 877-481-4010

International: 919-882-2331

Replay Passcode: 50721

 

About Zedge

 

Zedge builds digital marketplaces and friendly competitive games around content people use to express themselves. Our leading products include Zedge Ringtones and Wallpapers, a freemium digital content marketplace offering mobile phone wallpapers, video wallpapers, ringtones, notification sounds, and pAInt, a generative AI wallpaper maker; GuruShots, a skill-based photo challenge game; and Emojipedia, the #1 trusted source for ‘all things emoji’. Our vision is to enable and connect creators who enjoy friendly competitions with a community of prospective consumers in order to drive commerce. We serve 10’s of millions of active users across our offerings every month. For more information, visit: investor.zedge.net

 

Forward-Looking Statements

 

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.

 

Contact:

 

Brian Siegel, IRC, MBA

Senior Managing Director

Hayden IR

(346) 396-8696

ir@zedge.net

 

4

 

 

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par value data)

 

   April 30,
2024		   July 31,
2023		 
   (Unaudited)     
Assets        
Current assets:        
Cash and cash equivalents  $19,925   $18,125 
Trade accounts receivable   3,325    2,883 
Prepaid expenses and other receivables   374    569 
Total current assets   23,624    21,577 
Property and equipment, net   2,357    2,186 
Intangible assets, net   5,481    18,709 
Goodwill   1,802    1,961 
Deferred tax assets, net   4,492    1,842 
Other assets   383    556 
Total assets  $38,139   $46,831 
Liabilities and stockholders’ equity          
Current liabilities:          
Trade accounts payable  $1,155   $669 
Accrued expenses and other current liabilities   3,272    2,676 
Deferred revenues   1,998    2,414 
Total current liabilities   6,425    5,759 
Term loan, net of deferred financing costs   -    1,985 
Deferred revenues--non-current   677    - 
Other liabilities   135    223 
Total liabilities   7,237    7,967 
Commitments and contingencies (Note 9)          
Stockholders’ equity:          
Preferred stock, $.01 par value; authorized shares—2,400; no shares issued and outstanding   -    - 
Class A common stock, $.01 par value; authorized shares—2,600; 525 shares issued and outstanding at April 30, 2024 and July 31, 2023   5    5 
Class B common stock, $.01 par value; authorized shares—40,000; 14,866 shares issued and 13,967 shares outstanding at April 30, 2024, and 14,634 shares issued and 13,801 outstanding at July 31, 2023   149    146 
Additional paid-in capital   47,795    46,122 
Accumulated other comprehensive loss   (1,878)   (1,537)
Accumulated deficit   (13,074)   (3,942)
Treasury stock, 899 shares at April 30, 2024 and  833 shares at July 31, 2023, at cost   (2,095)   (1,930)
Total stockholders’ equity   30,902    38,864 
Total liabilities and stockholders’ equity  $38,139   $46,831 

 

 

5

 

 

ZEDGE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME

(in thousands, except per share data)

(Unaudited)

 

   Three Months Ended
April 30,		   Nine Months Ended
April 30,		 
   2024   2023   2024   2023 
Revenues  $7,658   $6,726   $22,510   $20,609 
Costs and expenses:                    
Direct cost of revenues (excluding amortization of capitalized software and technology development costs which is included below)   455    498    1,399    1,762 
Selling, general and administrative   6,752    5,016    18,773    16,713 
Depreciation and amortization   583    897    2,120    2,505 
Impairment of intangible assets   -    -    11,958    - 
Impairment of goodwill   -    8,727    -    8,727 
Change in fair value of contingent consideration   -    -    -    (1,943)
Loss from operations   (132)   (8,412)   (11,740)   (7,155)
Interest and other income, net   188    84    434    196 
Net loss resulting from foreign exchange transactions   (80)   (84)   (223)   - 
Loss before income taxes   (24)   (8,412)   (11,529)   (6,959)
Income tax benefit   (137)   (718)   (2,397)   (702)
Net income (loss)  $113   $(7,694)  $(9,132)  $(6,257)
Other comprehensive loss:                    
Changes in foreign currency translation adjustment   (224)   (214)   (341)   (321)
Total other comprehensive loss   (224)   (214)   (341)   (321)
Total comprehensive loss  $(111)  $(7,908)  $(9,473)  $(6,578)
Income (loss) per share attributable to Zedge, Inc. common stockholders:                    
Basic  $0.01   $(0.55)  $(0.65)  $(0.44)
Diluted  $0.01   $(0.55)  $(0.65)  $(0.44)
Weighted-average number of shares used in calculation of income (loss) per share:                    
Basic   14,191    14,017    14,077    14,221 
Diluted   14,542    14,017    14,077    14,221 

 

6

 

 

ZEDGE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(Unaudited)

 

   Nine Months Ended
April 30,		 
   2024   2023 
         
Operating activities        
Net loss  $(9,132)  $(6,257)
Adjustments to reconcile net loss to net cash provided by operating activities:          
Depreciation   42    44 
Amortization of intangible assets   1,270    1,738 
Amortization of capitalized software and technology development costs   808    723 
Amortization of deferred financing costs   15    2 
Stock-based compensation   1,673    1,957 
Impairment charge of intangible assets   11,958    - 
Impairment of investment in privately-held company   50    - 
Write-off from impairment of goodwill   -    8,727 
Change in fair value of contingent consideration   -    (1,943)
Deferred income taxes   (2,650)   (955)
           
Change in assets and liabilities:          
Trade accounts receivable   (442)   (645)
Prepaid expenses and other current assets   195    (501)
Other assets   34    50 
Trade accounts payable and accrued expenses   1,073    653 
Deferred revenue   261    (850)
Net cash provided by operating activities   5,155    2,743 
Investing activities          
Final payment for asset acquisitions   -    (962)
Capitalized software and technology development costs   (993)   (1,110)
Purchase of property and equipment   (35)   (57)
Net cash used in investing activities   (1,028)   (2,129)
Financing activities          
Prepayment of term loan   (2,000)   - 
Proceeds from term loan payable   -    2,000 
Payment of deferred financing costs   -    (18)
Proceeds from exercise of stock options   3    - 
Purchase of treasury stock in connection with share buyback program and stock awards vesting   (165)   (1,454)
Net cash (used in) provided by financing activities   (2,162)   528 
Effect of exchange rate changes on cash and cash equivalents   (165)   (160)
Net increase in cash and cash equivalents   1,800    982 
Cash and cash equivalents at beginning of period   18,125    17,085 
Cash and cash equivalents at end of period  $19,925   $18,067 
           
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION          
Cash payments made for income taxes  $80   $711 
Cash payments made for interest expenses  $66   $72 

7

 

 

Use of Non-GAAP Measures

 

Adjusted EBITDA, defined as earnings (loss) before interest, taxes, depreciation and amortization, stock compensation expense, transaction-related expenses and other non-recurring expenses, Adjusted EBITDA Margin, and non-GAAP net income and EPS (which adjust out stock compensation expense, transaction-related expenses and other non-recurring expenses from GAAP net income and EPS), represent measures that we believe are customarily used by investors and analysts to evaluate the financial performance of companies in addition to the GAAP measures we present. Our management also believes these measures are useful in evaluating our core operating results. However, these are not measures of financial performance under GAAP and should not be considered an alternative to net income or operating income/margin as an indicator of our operating performance or to net cash provided by operating activities as a measure of our liquidity.

 

Reconciliation of Adjusted EBITDA to Net (Loss) Income  Q123   Q223   Q323   Q423   Q124   Q224   Q324   FY22   FY23   YTD
FY24		 
Net (Loss) Income  $(0.2)  $1.6   $(7.7)  $0.2   $(0.0)  $(9.2)  $0.1   $9.7   $(6.1)  $(9.1)
Excluding:                                                  
Interest and other income (expense), net  $(0.0)  $(0.1)  $(0.1)  $(0.1)  $(0.1)  $(0.2)  $(0.2)  $(0.0)  $(0.3)  $(0.4)
Provision for (benefit from) income taxes  $(0.1)  $0.1   $(0.7)  $0.2   $0.2   $(2.5)  $(0.1)  $1.9   $(0.5)  $(2.4)
Depreciation and amortization  $0.8   $0.8   $0.9   $0.8   $0.8   $0.8   $0.6   $2.0   $3.3   $2.1 
EBITDA  $0.5   $2.4   $(7.6)  $1.0   $0.9   $(11.1)  $0.4   $13.5   $(3.6)  $(9.8)
Adjustments:                                                  
GuruShots acquisition related write-offs  $(0.2)  $(1.8)  $8.7   $0.0   $0.0   $12.0   $0.0   $(4.0)  $6.8   $12.0 
Stock-based compensation  $0.6   $0.8   $0.6   $0.6   $0.5   $0.7   $0.5   $1.9   $2.5   $1.7 
Transaction costs related to business combination  $0.0   $0.0   $0.0   $0.0   $0.2   $0.0   $0.0   $0.9   $0.0   $0.2 
Adjusted EBITDA  $1.0   $1.4   $1.7   $1.6   $1.5   $1.5   $0.9   $12.4   $5.7   $3.9 

 

*numbers may not add due to rounding

 

Reconciliation of GAAP Net (Loss) Income to Non-GAAP Net Income  Q123   Q223   Q323   Q423   Q124   Q224   Q324   FY22   FY23   YTD
FY24		 
GAAP Net (Loss) Income  $(0.2)  $1.6   $(7.7)  $0.2   $(0.0)  $(9.2)  $0.1   $9.7   $(6.1)  $(9.1)
Adjustments:                                                  
GuruShots acquisition related write-offs  $(0.2)  $(1.8)  $8.7   $0.0   $0.0   $12.0   $0.0   $(4.0)  $6.8   $12.0 
Stock-based compensation  $0.6   $0.8   $0.6   $0.6   $0.5   $0.7   $0.5   $1.9   $2.5   $1.7 
Transaction costs related to business combination  $0.0   $0.0   $0.0   $0.0   $0.2   $0.0   $0.0   $0.9   $0.0   $0.2 
Income tax effect on non-GAAP items  $(0.1)  $0.2   $(1.3)  $(0.1)  $(0.2)  $(2.9)  $(0.1)  $0.3   $(1.3)  $(3.2)
Non-GAAP Net Income  $0.2   $0.8   $0.3   $0.6   $0.5   $0.5   $0.5   $8.8   $1.9   $1.5 
Non-GAAP basic earnings per share  $0.01   $0.06   $0.02   $0.04   $0.04   $0.04   $0.03   $0.62   $0.13   $0.11 
Non-GAAP diluted earnings per share  $0.01   $0.06   $0.02   $0.04   $0.04   $0.04   $0.03   $0.59   $0.13   $0.11 
Weighted average shares used to compute Non-GAAP basic earnings per share   14.3    14.1    14.0    13.9    14.0    14.1    14.2    14.2    14.1    14.0 
Weighted average shares used to compute Non-GAAP diluted earnings per share   14.3    14.3    14.0    13.9    14.0    14.1    14.5    14.9    14.1    14.0 

 

*numbers may not add due to rounding

8

 

v3.24.1.1.u2
Cover
Jun. 10, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Jun. 10, 2024
Entity File Number 1-37782
Entity Registrant Name Zedge, Inc.
Entity Central Index Key 0001667313
Entity Tax Identification Number 26-3199071
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 1178 Broadway
Entity Address, Address Line Two Ste. 1450 (3rd Floor)
Entity Address, City or Town New York
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10001
City Area Code 330
Local Phone Number 577-3424
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Class B common stock, par value $0.01 per share
Trading Symbol ZDGE
Security Exchange Name NYSEAMER
Entity Emerging Growth Company false
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