secwatch.observer — SEC 8-K summary
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Issuer:     Zedge, Inc. (ZDGE)
CIK:        0001667313
Form:       8-K
Filed at:   2023-03-15T23:59:59+00:00
Accession:  0001213900-23-020317
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1667313/000121390023020317/0001213900-23-020317-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1667313/000121390023020317/ea175253-8k_zedge.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-020317

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