Zedge, Inc. Announces Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended October 31, 2017
December 12, 2017 at 09:30 pm
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Zedge, Inc. announced unaudited consolidated earnings and operating results for the first quarter ended October 31, 2017. For the quarter, the company reported revenue was $2,659,000 against $2,383,000 a year ago. Loss from operations was $842,000 against income of $113,000 a year ago. Loss before income taxes was $834,000 against income of $164,000 a year ago. Net loss was $820,000 against income of $163,000 a year ago. Diluted loss per share was $0.08 against income of $0.02 a year ago. Net cash provided by operating activities was $106,000 against $215,000 a year ago. Capitalized software and technology development costs and purchase of equipment was $488,000 against $349,000 a year ago. Excluding one-time costs and adjustments, loss from operations would have been $177,000 compared to an operating loss of $87,000 a year ago.
For the quarter, the company reported MAU (Monthly Active Users) for the last 30 days of the quarter increased 5.7% to 33.4 million from 31.6 million in the comparable period of 2017 with growth across all regions, globally. Total installs at October 31, 2017 increased 25.3% to 288.8 million from 230.5 million. Average revenue per MAU derived from apps (ARPMAU) increased 9.9% for the quarter to $0.0256 from $0.0233, the fourth consecutive quarter of improvement.
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.