Zedge Q3 revenue up 8% to $6.7M but net loss $7.7M on $8.7M goodwill impairment

Zedge, Inc.

2023-Q3 EPS reported -$0.44 revenue$20,609,000

GAAP net loss $7.7M ($0.55 EPS) includes $8.7M non-cash goodwill impairment; Adjusted EBITDA $1.7M, -40.5% YoY.
Revenue $6.7M, +8% YoY; advertising revenue $4.6M (-5.6%), digital goods and services $1.1M (+270%).
Zedge MAU flat at 32M; ARPMAU $0.053 flat YoY; Active subscriptions 631K, -11.5%.
GuruShots impacted by Apple ATT; new AI art game in soft launch; Emojipedia revenue growth 93% YoY.
Cash flow from operations $1.6M, down 71.2% from $5.6M a year ago.

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 0.9

Zedge, Inc. reported its third quarter fiscal year 2023, ended April 30, 2023 results: revenue $6.7 million, net income ($7.7) million, EPS ($0.55).

Period: its third quarter fiscal year 2023, ended April 30, 2023
Revenue: $6.7 million
Net income: ($7.7) million
EPS: ($0.55)
Result: reported results

Exact text from the filing

continue delivering the high-margin growth we expected when acquiring it. Third Quarter Highlights Financial (fiscal 2023 compared to fiscal 2022) ● Revenue increased 8.0% to $6.7 million; ● GAAP net loss and loss per share of ($7.7) million and ($0.55), respectively; o GAAP net loss included an ($8.7) million goodwill impairment charge related to acquisitions;

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Source: SEC EDGAR

accession 0001213900-23-048152

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