Revenue Growth - Total revenue increased by 13.8% to $7.7 million compared to $6.7 million in Q3 FY23[4] - Subscription revenue grew by 34.9% to $1.1 million, up from $0.8 million in Q3 FY23[4] - Advertising revenue rose by 19.4% to $5.5 million, compared to $4.6 million in Q3 FY23[4] - Total revenue for FY23 was $27.2 million, a 2.6% increase from FY22's $26.5 million[14] - Advertising revenue reached $20.3 million in FY22, but decreased to $18.3 million in FY23, reflecting a decline of 9.8%[14] - Revenues for the three months ended April 30, 2024, were $7.658 billion, a 13.9% increase from $6.726 billion in the same period of 2023[23] User Engagement - Monthly Active Users (MAU) decreased by 13.4% to 27.7 million from 32.0 million in Q3 FY23[7] - Average Revenue Per Monthly Active User (ARPMAU) grew by 39.7% to $0.074 from $0.053 in Q3 FY23[7] - Monthly Active Users (MAU) decreased to 30.9 million in Q423 from 32.0 million in Q323, a decline of 3.4%[14] - Active subscriptions (in thousands) were 647 in Q423, a slight increase from 631 in Q323[14] - The company plans to introduce new features and services for Emojipedia over the next 12 months to drive user engagement and monetization growth[9] - GuruShots is undergoing a transition with a new coin-based economy aimed at improving engagement and retention[10] Financial Performance - Non-GAAP net income was $0.5 million, a 59.7% increase from $0.3 million in Q3 FY23[5] - GAAP net income for Q423 was $0.1 million, compared to a loss of $7.7 million in Q223, indicating a significant recovery[14] - Non-GAAP diluted EPS for FY23 was $0.13, up from $0.11 in FY22, representing an 18.2% increase[14] - Cash flow from operations for FY23 was $3.2 million, a decrease from $5.2 million in FY22[14] - Adjusted EBITDA for the nine months ended April 30, 2024, was $3.9 million, down from $5.7 million in the same period of 2023[27] - Non-GAAP diluted earnings per share for the latest quarter was $0.59, compared to $0.13 in the previous quarter, reflecting a significant increase[28] - The company has shown a steady performance in earnings per share, maintaining values between $0.04 and $0.06 in recent quarters[28] Cash Flow and Assets - Cash flow from operations increased by 44.5% to $2.3 million compared to $1.6 million in Q3 FY23[5] - The total assets decreased to $38.139 million as of April 30, 2024, from $46.831 million as of July 31, 2023[20] - Operating activities generated net cash of $5.155 million for the nine months ended April 30, 2024, compared to $2.743 million in the same period of 2023, indicating an increase of 88.5%[25] - Cash and cash equivalents at the end of the period were $19.925 million, up from $18.067 million at the end of the same period in 2023[25] - The company reported a net increase in cash and cash equivalents of $1.800 million for the nine months ended April 30, 2024[25] Losses and Impairments - Net loss for the nine months ended April 30, 2024, was $9.132 billion, compared to a net loss of $6.257 billion for the same period in 2023, reflecting a 45.5% increase in losses[25] - The company reported an impairment charge of intangible assets amounting to $11.958 billion for the nine months ended April 30, 2024[25] - Total comprehensive loss for the nine months ended April 30, 2024, was $9.473 billion, compared to a loss of $6.578 billion in the same period of 2023[23] Gross Transaction Value - Zedge Premium Gross Transaction Value (GTV) increased by 44.4% to $0.59 million from $0.41 million in Q3 FY23[5] - The company reported a total of 1.51 million in Gross Transaction Value (GTV) for Zedge Premium in FY23, slightly up from 1.54 million in FY22[14]
Zedge(ZDGE) - 2024 Q3 - Quarterly Results