Zedge, Inc. Reports Earnings Results for the Third Quarter Ended April 30, 2019
June 12, 2019 at 04:16 pm EDT
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Zedge, Inc. announced earnings results for the third quarter ended April 30, 2019. For the third quarter, the company announced sales was USD 1.912 million compared to USD 2.551 million a year ago. Operating loss was USD 1.121 million compared to USD 339,000 a year ago. Net loss was USD 1.195 million compared to USD 309,000 a year ago. Basic loss per share was USD 0.12 compared to USD 0.03 a year ago. For the nine months, sales was USD 6.866 million compared to USD 8.255 million a year ago. Operating loss was USD 1.948 million compared to USD 1.303 million a year ago. Net loss was USD 2.142 million compared to USD 1.302 million a year ago. Basic loss per share was USD 0.21 compared to USD 0.13 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. The Company serves over 40 million active users across its offerings.