Zedge, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended January 31, 2024
March 15, 2024 at 06:32 am EDT
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Zedge, Inc. reported earnings results for the second quarter and six months ended January 31, 2024. For the second quarter, the company reported sales was USD 7.77 million compared to USD 6.98 million a year ago. Net loss was USD 9.23 million compared to net income of USD 1.61 million a year ago. Basic loss per share from continuing operations was USD 0.66 compared to basic earnings per share from continuing operations of USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 0.66 compared to diluted earnings per share from continuing operations of USD 0.11 a year ago.
For the six months, sales was USD 14.85 million compared to USD 13.88 million a year ago. Net loss was USD 9.25 million compared to net income of USD 1.44 million a year ago. Basic loss per share from continuing operations was USD 0.66 compared to basic earnings per share from continuing operations of USD 0.1 a year ago. Diluted loss per share from continuing operations was USD 0.66 compared to diluted earnings per share from continuing operations of USD 0.1 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.