Zedge, Inc. (ZDGE): restructuring charge — Zedge targets $3.9-$4.1M annual cost savings; closes Norway ops, 22% workforce cut

Zedge, Inc.

Annualized savings of $3.9-$4.1M vs Q1 FY25 run rate; includes $2.6M pre-tax compensation savings.
Closure of Norwegian subsidiary; consolidation of activities in Lithuania and Israel.
Workforce reduced by 22%; approximately $2.6M in annualized compensation savings.
Additional $1.2M annual savings from planned April 2025 end of GuruShots retention bonuses.
Restructuring charges expected in Q2 and Q3 fiscal 2025 (periods ending Jan 31 and Apr 30, 2025).

item 2.05 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Zedge, Inc. announced a restructuring affecting Norwegian operations and GuruShots team (22% workforce reduction).

Type: restructuring
Affected area: Norwegian operations and GuruShots team
Headcount: 22% workforce reduction

Exact text from the filing

On February 5, 2025, the Company announced additional restructuring initiatives, notably the closure of its Norwegian operations.

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15 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Zedge, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-012957

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