Zedge Q2 FY2024 revenue up 11.3% to $7.8M; GAAP loss of $9.2M on $11.9M intangible write-down

Zedge, Inc.

2024-Q2 EPS reported -$0.66 revenue$14,852,000

GAAP net loss of $9.2M ($0.66 loss per share) vs year-ago net income of $1.6M; includes $11.9M non-cash intangible write-down.
Non-GAAP net income was $0.5M ($0.04 EPS), down from $0.8M; Adjusted EBITDA up 8.4% to $1.5M.
Advertising revenue grew 18.4% to $5.5M; subscription revenue up 24.4% to $1.1M.
Record ARPMAU of $0.072, up 36.7% YoY, despite MAU decline of 10.7% to 28.8M.
Zedge Premium GTV rose 22.5% to $0.54M; CEO cites 'positive momentum' across most businesses.

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 fiscal quarter ended January 31, 2024 results: revenue $7.8 million, net income ($9.2) million, EPS ($0.66).

Period: fiscal quarter ended January 31, 2024
Revenue: $7.8 million
Net income: ($9.2) million
EPS: ($0.66)
Result: reported results

Exact text from the filing

· Revenue increased 11.3% to $7.8 million; · GAAP operating loss of $11.9 million, compared to operating income of $1.5 million; o 2024 GAAP operating income included a $11.9 million non-cash accounting write-down of intangible assets, while the 2023 quarter included a $1.8 million non-cash accounting benefit, both related to the GuruShots acquisition; · GAAP net loss and loss per share were ($9.2) million and ($0.66) compared to net income and EPS of $1.6 million and $0.11, respectively

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Source: SEC EDGAR

accession 0001213900-24-022809

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