Zedge, Inc. Reports Earnings Results for the Second Quarter Ended January 31, 2020
March 11, 2020 at 04:13 pm EDT
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Zedge, Inc. announced earnings results for the second quarter ended January 31, 2020. For the second quarter, the company announced sales was USD 2.644 million compared to USD 2.573 million a year ago. Operating income was USD 80,000 compared to operating loss of USD 245,000 a year ago. Net income was USD 100,000 compared to net loss of USD 240,000 a year ago. For the half year, sales was USD 4.677 million compared to USD 4.954 million a year ago. Operating loss was USD 666,000 compared to USD 826,000 a year ago. Net loss was USD 701,000 compared to USD 946,000 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.
ZEDGE, INC. 
