Zedge, Inc. Reports Impairment of Intangible Assets for the Second Quarter Ended January 31, 2024
March 15, 2024 at 06:30 am EDT
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Zedge, Inc. reported impairment of intangible assets for the second quarter ended January 31, 2024. For the quarter, the company's impairment of intangible assets were $11,958,000.
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. 
