Zedge, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended April 30, 2018
June 13, 2018 at 04:30 pm EDT
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Zedge, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended April 30, 2018. For the quarter, the company reported revenues of $2,551,000 against $2,530,000 for the same period a year ago. Loss from operations was $339,000 against $193,000 for the same period a year ago. Loss before income taxes was $306,000 against $239,000 for the same period a year ago. Net loss was $309,000 against $239,000 for the same period a year ago. Basic and diluted loss per share attributable to the company common stockholders was $0.03 against $0.02 for the same period a year ago.
For the nine months, the company reported revenues of $8,255,000 against $7,485,000 for the same period a year ago. Loss from operations was $1,303,000 against $419,000 for the same period a year ago. Loss before income taxes was $1,301,000 against $424,000 for the same period a year ago. Net loss was $1,302,000 against $403,000 for the same period a year ago. Basic and diluted loss per share attributable to the company common stockholders was $0.13 against $0.04 for the same period a year ago. Net cash provided by operating activities was $784,000 against $187,000 for the same period a year ago. Capitalized software and technology development costs and purchase of equipment was $1,295,000 compared to $1,240,000 a year ago.
Zedge, Inc. is engaged in building digital marketplaces and competitive games. The Company's products include Zedge Ringtones and Wallpapers, which is a freemium digital content marketplace offering mobile phone wallpapers, video wallpapers, ringtones and notification sounds; pAInt, a generative artificial intelligence (AI) wallpaper maker; GuruShots, a skill-based photo challenge game, and Emojipedia. It uses open-source software in connection with its services. The Zedge Ringtones and Wallpapers app is available both in Google Play and the App Store. Its GuruShots product offers a platform spanning iOS, Android, and the Web that provides an educational and structured way for amateur photographers to compete in a variety of contests. It has added non-fungible token (NFT) functionality to a limited number of Zedge Premium creators via NFTs Made Easy, and all NFT Made Easy transactions are made using Zedge Credits.