Zedge Announces Preliminary Fourth Quarter and Year-End Fiscal 2022 Results

Annual revenue of $26.5 million and fourth quarter revenue of $7.4 million

NEW YORK, NY/ACCESSWIRE/November 1, 2022/ Zedge, Inc. (NYSE AMERICAN: ZDGE), a leader in building marketplaces and games around digital content that enables self-expression, today announced preliminary results for its fourth quarter and full year 2022, ended July 31, 2022.

The Company is working to finalize its 10-K with Friedman LLP, which was acquired by Marcum LLP, during the fourth quarter. Accordingly, the company will proceed with its earnings release and host a conference call to discuss its full fiscal fourth quarter and full year 2022 results when the audit is complete and the 10-K is filed. In the meantime, the Company publishes the following preliminary information*:

Fiscal Fourth Quarter Highlights (Fiscal 2022 vs. Fiscal 2021)

  • Revenue increased 40.7% to $7.4 million from $5.2 million;

  • Gaming revenue of $1.4 million;

  • MAU1 fell 7.0%, with declines in both well-developed and emerging markets;

  • Zedge Premium Gross Transaction Value1 (GTV) of $0.34 million, an increase of 22.6%.

Fiscal 2022 Highlights (vs. Fiscal 2021)

  • Revenue increased 35.6% to $26.5 million from $19.6 million;

  • Gaming revenue of $1.7 million;

  • Zedge Premium GTV of $1.51 million, an increase of 59.7% over last year.

1We use the following trading metrics in this release because we believe they are useful in evaluating Zedge as an investment.

  • Monthly Active Users, or MAUs, captures the number of unique users who have used our Zedge app over the past 30 days of the relevant time period, is useful for assessing consumer engagement with our app which correlates with ad revenue, as more users generate more ad impressions. for sale. It also allows potential readers and advertisers to gauge the size of our user base.

  • Zedge Premium Gross Transaction Value, or GTV, is the total dollar amount of transactions made through the Zedge Premium Marketplace. As Zedge Premium is an internal growth focus, we believe this metric will help investors gauge the progress we are making in growing this part of our business.

*While the company believes these figures to be accurate, they are subject to audit and adjustment until the audit is complete and final figures are released.

About Zedge

Zedge creates marketplaces and games around the digital content people use to express themselves. We monetize our user base through advertising, subscriptions and a virtual token-based economy. Our main products are the photography game GuruShots and Zedge’s freemium digital content marketplace, which today offers mobile phone wallpapers, video wallpapers, ringtones and notification sounds. The synergy between the game and the market unlocks additional engagement and allows our community to earn money from their works. We also own Emojipedia, a website which is the main source of information about emojis. In May 2022, we served over 40 million users. For more information visit https://www.investor.zedge.net/

Forward-looking statements

All of the above statements which do not relate solely to historical facts, including but not limited to those in which we use the words “believe”, “anticipate”, “expect”, “plan” , “intend”, “estimate”, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although these forward-looking statements represent our current judgment of what may in the future, actual results may differ materially from the results expressed or implied by such statements due to many important factors. Our filings with the SEC provide detailed information about these statements and risks and should be reviewed with this release. To the extent permitted by applicable law, we undertake no obligation to update any forward-looking statements.

Contact:

Brian Siegel IRC, MBA
Chairman and CEO
R.I. Hayden
(346) 396-8696
[email protected]

THE SOURCE: Zedge, Inc.

See the source version on accesswire.com:
https://www.accesswire.com/723255/Zedge-Announces-Preliminary-Fiscal-2022-Fourth-Quarter-and-Year-end-Results

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