Zedge, Inc. (ZDGE): debt financing — Zedge reports preliminary FY2022 revenue of $26.5M (+35.6% YoY); Q4 revenue $7.4M; secures new $7M term loan

Zedge, Inc.

2023-Q1 EPS reported -$0.01 revenue$6,900,000

Full-year revenue $26.5M vs $19.6M in FY2021, a 35.6% increase; Q4 revenue $7.4M (+40.7% YoY).
Gaming revenue $1.7M for FY2022 and $1.4M in Q4; MAU declined 7% due to both developed and emerging markets.
Zedge Premium GTV $1.51M for FY2022 (+59.7% YoY) and $0.34M in Q4 (+22.6% YoY).
Entered new $7M term loan and $4M revolving credit facility with Western Alliance Bank at Prime + 0.5% (floor 4.00%).

item 1.01 item 1.02 item 2.02 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Zedge, Inc. incurred revolving credit of $4,000,000 revolving credit facility with Western Alliance Bank at Prime Rate plus 0.5% with a Prime floor rate of 4.00% maturing two-year term.

Instrument: revolving credit
Principal: $4,000,000 revolving credit facility
Counterparty: Western Alliance Bank
Rate: Prime Rate plus 0.5% with a Prime floor rate of 4.00%
Maturity: two-year term
Event: incurrence

Exact text from the filing

Pursuant to the Amended Loan Agreement, Western Alliance Bank agreed to provide the Company with a term loan facility in the maximum principal amount of $7,000,000 for a four-year term and a $4,000,000 revolving credit facility for a two-year term. Amounts outstanding under the term loan and credit facility of the Amended Loan Agreement bear interest at a per annum rate equal to the Prime Rate (as published in The Wall Street Journal) plus 0.5%, with a Prime “floor” rate of 4.00%.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Zedge, Inc. incurred term loan of maximum principal amount of $7,000,000 with Western Alliance Bank at Prime Rate plus 0.5% with a Prime floor rate of 4.00% maturing four-year term.

Instrument: term loan
Principal: maximum principal amount of $7,000,000
Counterparty: Western Alliance Bank
Rate: Prime Rate plus 0.5% with a Prime floor rate of 4.00%
Maturity: four-year term
Event: incurrence

Exact text from the filing

Pursuant to the Amended Loan Agreement, Western Alliance Bank agreed to provide the Company with a term loan facility in the maximum principal amount of $7,000,000 for a four-year term and a $4,000,000 revolving credit facility for a two-year term. Amounts outstanding under the term loan and credit facility of the Amended Loan Agreement bear interest at a per annum rate equal to the Prime Rate (as published in The Wall Street Journal) plus 0.5%, with a Prime “floor” rate of 4.00%.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Zedge, Inc. reported fiscal year ended July 31, 2022 results: revenue $26.5 million.

Period: fiscal year ended July 31, 2022
Revenue: $26.5 million
Result: preliminary results

Exact text from the filing

● Revenue increased 35.6% to $26.5 million versus $19.6 million;

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Zedge, Inc. reported fourth fiscal quarter ended July 31, 2022 results: revenue $7.4 million.

Period: fourth fiscal quarter ended July 31, 2022
Revenue: $7.4 million
Result: preliminary results

Exact text from the filing

● Revenue increased 40.7% to $7.4 million versus $5.2 million;

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Zedge, Inc. entered into Amended and Restated Loan and Security Agreement with Western Alliance Bank valued at Term loan facility of $7,000,000 for four-year term and $4,000,000 revolving credit facility for two (effective 2022-10-28).

Action: entry
Agreement: credit facility
Counterparty: Western Alliance Bank
Value: Term loan facility of $7,000,000 for four-year term and $4,000,000 revolving credit facility for two
Effective: 2022-10-28

Exact text from the filing

On October 28, 2022, Zedge, Inc. (the "Registrant" or "Company") entered into an Amended and Restated Loan and Security Agreement ("Amended Loan Agreement") with Western Alliance Bank.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Zedge, Inc. terminated Existing Loan and Security Agreement dated September 26, 2016 with Western Alliance Bank valued at Existing $2,000,000 revolving credit facility discontinued with no outstanding balance (effective 2022-10-28).

Action: termination
Agreement: credit facility
Counterparty: Western Alliance Bank
Value: Existing $2,000,000 revolving credit facility discontinued with no outstanding balance
Effective: 2022-10-28

Exact text from the filing

On October 28, 2022, the Company entered into the Amended Loan Agreement with Western Alliance Bank. Pursuant to the Amended Loan Agreement, the Company discontinued the existing $2,000,000 revolving credit facility under the existing Loan and Security Agreement, dated as of September 26, 2016, as amended, restated, supplemented and otherwise modified from time to time prior to the date of the Amended Loan Agreement.

View on SEC.gov

Browse all debt financings →

Zedge, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-22-068053

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.