Zedge, Inc. Reports Earnings Results for the Third Quarter Ended April 30, 2020
June 12, 2020 at 01:42 am IST
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Zedge, Inc. announced earnings results for the third quarter ended April 30, 2020. For the third quarter, the company announced sales was USD 2.079 million compared to USD 1.912 million a year ago. Operating loss was USD 127,000 compared to USD 1.121 million a year ago. Net loss was USD 325,000 compared to USD 1.195 million a year ago. For the nine months, sales was USD 6.756 million compared to USD 6.866 million a year ago. Operating loss was USD 793,000 compared to USD 1.948 million a year ago. Net loss was USD 1.026 million compared to USD 2.142 million a year ago.
Zedge, Inc. is engaged in building digital marketplaces and competitive games. The Company's products include Zedge Ringtones and Wallpapers, which is a freemium digital content marketplace offering mobile phone wallpapers, video wallpapers, ringtones and notification sounds; pAInt, a generative artificial intelligence (AI) wallpaper maker; GuruShots, a skill-based photo challenge game, and Emojipedia. It uses open-source software in connection with its services. The Zedge Ringtones and Wallpapers app is available both in Google Play and the App Store. Its GuruShots product offers a platform spanning iOS, Android, and the Web that provides an educational and structured way for amateur photographers to compete in a variety of contests. It has added non-fungible token (NFT) functionality to a limited number of Zedge Premium creators via NFTs Made Easy, and all NFT Made Easy transactions are made using Zedge Credits.