Zedge, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended April 30, 2023
June 12, 2023 at 04:11 pm EDT
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Zedge, Inc. reported earnings results for the third quarter and nine months ended April 30, 2023. For the third quarter, the company reported sales was USD 6.73 million compared to USD 6.23 million a year ago. Net loss was USD 7.69 million compared to net income of USD 0.803 million a year ago. Basic loss per share from continuing operations was USD 0.55 compared to basic earnings per share from continuing operations of USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.55 compared to diluted earnings per share from continuing operations of USD 0.05 a year ago.
For the nine months, sales was USD 20.61 million compared to USD 19.17 million a year ago. Net loss was USD 6.26 million compared to net income of USD 5.18 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to basic earnings per share from continuing operations of USD 0.36 a year ago. Diluted loss per share from continuing operations was USD 0.44 compared to diluted earnings per share from continuing operations of USD 0.35 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. 
