Zedge Announces Third Quarter Fiscal 2018 Results

Zedge (NYSEA:ZDGE) announced results for the third quarter of its fiscal year 2018 ending April 30 with the company reporting an 0.8 percent increase in the quarterly revenue US$2.55 million as compared to US$2.53 million in the prior year.

Zedge is a content platform and a global leader in smartphone personalization with more than 320 million app installs and over 34 million monthly active users.

As quoted in the press release:

 Third Quarter FY 2018 Operational and Financial Highlights:

• MAU (Monthly Active Users) for the last 30 days of the quarter increased 7.9% to 34.2 million from 31.7 million in the comparable period of 2017 driven primarily by strong growth in the emerging markets but down 3.7% from January 2018 with the majority of the decline attributable to the well-developed markets;
• Total installs at April 30, 2018 increased 23.5% to 321.5 million from 260.4 million;
• Loss from operations during the quarter was $339 thousand, compared to a loss of $193 thousand, after accounting for depreciation and amortization of $317 thousand and $166 thousand, respectively;
• For the nine months ended April 30, 2018, cash flow from operating activities was a positive $784 thousand an improvement of $597 thousand compared to the same period last year;
• Net loss per share of $0.03 compared to net loss per share of $0.02;

“Q3 2018 was a mixed bag for us. On the upside, Zedge Premium, our marketplace for digital content, shows early promising potential. Even without aggressive promotion or deep product integration, usage and conversion rates are outpacing our expectations,” said Tom Arnoy, CEO. “We are heavily focused on scaling Zedge Premium, initially by building a robust self-serve platform which will enable far broader artist participation, expanding the number of content verticals that we support, and increasing the number of ways in which artists can market and monetize their content. Separately, we are happy to announce that Nicki Minaj, a multi-platinum artist, is now using Zedge Premium to promote her new music and upcoming world tour.”

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