Zedge Q2 revenue flat at $7M; net income falls 31% to $1.6M, announces cost cuts

Zedge, Inc.

2023-Q2 EPS reported $0.10 revenue$13,883,000

Revenue $7.0M, up 1% YoY; net income $1.6M ($0.11 diluted EPS) vs $2.3M ($0.16) a year ago.
Adjusted EBITDA $1.4M, down 63% from $3.9M; advertising revenue fell 19% to $4.6M.
Digital goods/services revenue $1.2M (from $0) driven by gaming; subscription revenue down 8.3%.
MAU declined 11.3% to 32.2M; active subscriptions fell 14.2% to 654,000.
Announced $2.5-$3.0M annualized cost savings plan; management cites macro headwinds and Apple ATT impact.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Zedge, Inc. reported second quarter fiscal year 2023, ended January 31, 2023 results: revenue $7.0 million, net income $1.6 million, EPS $0.11.

Period: second quarter fiscal year 2023, ended January 31, 2023
Revenue: $7.0 million
Net income: $1.6 million
EPS: $0.11
Result: reported results

Exact text from the filing

positioning the business for profitable growth as conditions improve.” Second Quarter Highlights Financial (fiscal 2023 compared to fiscal 2022) ● Revenue increased 1.0% to $7.0 million; ● Net income and earnings per share of $1.6 million and $0.11, respectively; ● Adjusted EBITDA of $1.4 million; ● Zedge Premium Gross Transaction Value (GTV) 2 increased 1.0% to

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Source: SEC EDGAR

accession 0001213900-23-020317

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