Zedge, Inc. ZDGE
builds digital marketplaces and friendly competitive games around content that people use to express themselves. Our leading products
include Zedge Ringtones and Wallpapers, which we refer to as our "Zedge App," a freemium digital content marketplace offering
mobile phone wallpapers, video wallpapers, ringtones, and notification sounds as well as pAInt, a generative AI wallpaper and ringtone
maker, GuruShots, a skill-based photo challenge game, and Emojipedia, the #1 trusted source for ‘all things emoji'. Our vision
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.4M | $30.1M | $27.2M | $26.5M | $19.6M | $9.5M | $8.8M | $10.8M | $10.0M | $11.1M |
| Cost of revenue | $147.0M | $28.0M | — | — | — | — | $1.4M | $1.5M | $1.6M | $1.3M |
| Gross profit | -$117.6M | $2.1M | — | — | — | — | $7.4M | $9.3M | $8.5M | $9.8M |
| SG&A | $27.2M | $25.6M | $21.9M | $15.1M | $9.3M | $7.1M | $8.9M | $9.6M | $8.5M | $7.8M |
| Total operating expenses | — | — | — | — | — | $538.0K | $512.0K | — | — | — |
| Operating income | -$3.2M | -$11.8M | -$6.9M | $11.8M | $7.8M | -$403.0K | -$2.9M | -$1.3M | -$683.0K | $1.2M |
| Interest expense | $666.0K | $626.0K | $311.0K | $49.0K | $245.0K | $11.0K | $199.0K | $29.0K | $19.0K | $2.0K |
| Pre-tax income | -$2.7M | -$11.4M | -$6.6M | $11.6M | $8.0M | -$544.0K | -$3.3M | -$1.3M | -$627.0K | $1.1M |
| Income tax | $325.0K | $2.2M | $462.0K | $1.9M | $202.0K | $15.0K | $16.0K | $230.0K | $16.0K | $143.0K |
| Net income | -$2.4M | -$9.2M | -$6.1M | $9.7M | $8.2M | -$559.0K | -$3.3M | -$1.6M | -$611.0K | $983.0K |
| EPS, basic | -0.17 | -0.65 | -0.43 | 0.69 | 0.63 | -0.05 | — | — | -0.06 | 0.12 |
| EPS, diluted | -0.17 | -0.65 | -0.43 | 0.65 | 0.59 | -0.05 | -0.33 | -0.16 | -0.06 | 0.11 |
| Shares, diluted (wtd. avg.) | $13.7M | $14.1M | $14.1M | $14.9M | $14.0M | $11.1M | $10.1M | $9.8M | $9.5M | $9.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $18.6M | $20.0M | $18.1M | $17.1M | $24.9M | $5.1M | $1.6M | $3.4M | $4.6M | $6.0M |
| Receivables | $3.2M | $3.4M | $2.9M | $2.4M | $2.5M | $1.4M | $1.1M | $1.8M | $1.7M | $1.7M |
| Total current assets | $22.4M | $24.0M | $21.6M | $19.9M | $27.6M | $6.8M | $3.2M | $5.8M | $7.0M | $8.0M |
| Property, plant and equipment | $1.3M | $2.3M | $2.2M | $1.7M | $2.0M | $2.6M | $3.4M | $3.3M | $2.7M | $1.8M |
| Goodwill | $1.9M | $1.8M | $2.0M | $10.8M | $2.3M | $2.2M | $2.3M | $2.4M | $2.5M | $2.4M |
| Other intangibles | $4.9M | $5.4M | $18.7M | $21.0M | — | — | — | — | — | — |
| Total assets | $35.7M | $38.2M | $46.8M | $54.6M | $37.5M | $12.0M | $9.0M | $11.7M | $12.5M | $12.4M |
| Accounts payable | — | $3.0M | $2.7M | $1.2M | $585.0K | $290.0K | $217.0K | $280.0K | $33.0K | $36.0K |
| Total current liabilities | $7.8M | $6.2M | $5.8M | $8.7M | $4.2M | $2.8M | $2.0M | $1.7M | $1.9M | $1.8M |
| Long-term debt | — | — | $2.0M | — | — | — | — | — | — | — |
| Total liabilities | $9.8M | $7.3M | $8.0M | $10.4M | $4.3M | $3.1M | $2.0M | $1.7M | $1.9M | $1.8M |
| Retained earnings | -$15.5M | -$13.1M | -$3.9M | $2.2M | -$7.6M | -$15.8M | -$15.2M | -$11.9M | -$10.3M | -$9.7M |
| Total equity | $25.9M | $30.9M | $38.9M | $44.2M | $33.2M | $8.9M | $7.0M | $10.0M | $10.6M | $10.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.4M | $5.8M | $3.2M | $11.5M | $10.1M | $2.1M | $76.0K | $332.0K | -$97.0K | $1.8M |
| Depreciation and amortisation | $700.0K | $1.1M | $958.0K | $958.0K | — | — | — | — | — | — |
| Stock-based compensation | $1.4M | $2.1M | $2.5M | $1.9M | $652.0K | $492.0K | $619.0K | $595.0K | $275.0K | $166.0K |
| Capital expenditure | $83.0K | $47.0K | $54.0K | $45.0K | — | — | — | — | — | — |
| Investing cash flow | -$549.0K | -$1.2M | -$2.4M | -$18.9M | -$5.5M | -$759.0K | -$1.7M | -$1.7M | -$1.5M | -$1.0M |
| Financing cash flow | -$4.4M | -$2.6M | $387.0K | -$223.0K | $15.1M | $2.2M | -$42.0K | $232.0K | $166.0K | $3.0M |
| Buybacks | $4.4M | $646.0K | $1.6M | $232.0K | $26.0K | $29.0K | $47.0K | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-25-103098.
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