secwatch.observer — SEC 8-K summary
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Issuer:     Zedge, Inc. (ZDGE)
CIK:        0001667313
Form:       8-K
Filed at:   2021-11-05T23:59:59+00:00
Accession:  0001213900-21-057020
Event type: other
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zedge revises Q3 FY2021 results upward $0.5M on tax benefit; files 10-Q/A
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- Net income increased by $0.5M; diluted EPS revised from $0.13 to $0.17 for Q3 ended April 30, 2021.
- Revision relates to release of a valuation allowance on deferred tax assets; no impact on full-year FY2021 results.
- Company identified a material weakness in disclosure controls over evaluation of deferred tax asset valuation allowance.
- Material weakness outsourced to outside accounting firm since fiscal 2018; remediation underway.
- Select Q4 FY2021 revenue grew 93% to $5.2M; full-year revenue up 106.6% to $19.6M (previously reported on Oct 27).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1667313/000121390021057020/0001213900-21-057020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1667313/000121390021057020/ea150056-8k_zedge.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-057020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer