secwatch.observer — SEC 8-K summary
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Issuer:     Zedge, Inc. (ZDGE)
CIK:        0001667313
Form:       8-K/A
Filed at:   2025-02-12T23:59:59+00:00
Accession:  0001213900-25-012957
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 2.05, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zedge targets $3.9-$4.1M annual cost savings; closes Norway ops, 22% workforce cut
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1667313/000121390025012957/0001213900-25-012957-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1667313/000121390025012957/ea0230899-8ka1_zedge.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-012957

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