10-Q Filing

ZEDGE, INC. CIK: 1667313 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001213900-21-065189`
Period End Date	20211031
Filing Date	20211214
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	f10q1021_zedgeinc_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 34 Cash Flow Statement 53 Stockholders Equity 16

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`Cash`	$24.91M	USD	Point-in-time
Cash and cash equivalents	`Cash`	$27.25M	USD	Point-in-time
Trade accounts receivable, net of allowance of $0 at October 31, 2021 and July 31, 2021	`AccountsReceivableNetCurrent`	$2.82M	USD	Point-in-time
Trade accounts receivable, net of allowance of $0 at October 31, 2021 and July 31, 2021	`AccountsReceivableNetCurrent`	$2.54M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$111.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$322.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$49.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$105.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.61M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.49M	USD	Point-in-time
Net of allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Net of allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.98M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.89M	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.79M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Goodwill	`Goodwill`	$2.36M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Goodwill	`Goodwill`	$2.26M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$477.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$477.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$358.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.14M	USD	Point-in-time
Total assets	`Assets`	$37.48M	USD	Point-in-time
Total assets	`Assets`	$42.37M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$585.00K	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$407.00K	USD	Point-in-time
Due to seller of Emojipedia	`LoansPayable`	$2.09M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	74,000.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	58,000.00	shares	Point-in-time
Due to seller of Emojipedia	`LoansPayable`	-	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.77M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.50M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.80M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.82M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.80M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$126.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$145.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$6.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.32M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized shares2,400; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized shares2,400; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Class A common stock, $.01 par value; authorized shares2,600; 525 shares issued and outstanding at October 31, 2021 and July 31, 2021	`CommonStockValue`	$5.00K	USD	Point-in-time
Class A common stock, $.01 par value; authorized shares2,600; 525 shares issued and outstanding at October 31, 2021 and July 31, 2021	`CommonStockValue`	$5.00K	USD	Point-in-time
Class B common stock, $.01 par value; authorized shares40,000; 13,935 shares issued and 13,861 shares outstanding at October 31, 2021, and 13,923 shares issued and 13,865 ouststanding at July 31, 2021	`CommonStockValueOne`	$139.00K	USD	Point-in-time
Class B common stock, $.01 par value; authorized shares40,000; 13,935 shares issued and 13,861 shares outstanding at October 31, 2021, and 13,923 shares issued and 13,865 ouststanding at July 31, 2021	`CommonStockValueOne`	$139.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.66M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-997.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-855.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.55M	USD	Point-in-time
Treasury stock, 74 shares at October 31, 2021 and 58 shares at July 31, 2021, at cost	`TreasuryStockValue`	$102.00K	USD	Point-in-time
Treasury stock, 74 shares at October 31, 2021 and 58 shares at July 31, 2021, at cost	`TreasuryStockValue`	$334.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$33.16M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.88M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$35.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.98M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$37.48M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$42.37M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$6.03M	USD	1 Quarter
Revenues	`Revenues`	$3.76M	USD	1 Quarter
Direct cost of revenues (exclusive of amortization of capitalized software and technology development costs included below)	`OperatingCostsAndExpenses`	$310.00K	USD	1 Quarter
Direct cost of revenues (exclusive of amortization of capitalized software and technology development costs included below)	`OperatingCostsAndExpenses`	$304.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.01M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.73M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$359.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$398.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.59M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.09M	USD	1 Quarter
Interest and other income, net	`InterestIncomeExpenseNet`	$1.00K	USD	1 Quarter
Interest and other income, net	`InterestIncomeExpenseNet`	$13.00K	USD	1 Quarter
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-10.00K	USD	1 Quarter
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-41.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.05M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.59M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$536.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.06M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.04M	USD	1 Quarter
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$142.00K	USD	1 Quarter
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-159.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-159.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$142.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$886.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.20M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.28M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.19M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.50M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.03M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Escrow fund	`EscrowFund`	$4.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.04M	USD	1 Quarter
Due to seller	`DueToSeller`	$2.12M	USD	1 Quarter
Legal fee	`LegalFees`	$12.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$359.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$398.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$237.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$319.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$554.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$295.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$279.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-80.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-19.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$522.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$80.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-18.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$221.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.69M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.49M	USD	1 Quarter
Capitalized software and technology development costs and purchase of equipment	`PaymentsToDevelopSoftware`	$188.00K	USD	1 Quarter
Capitalized software and technology development costs and purchase of equipment	`PaymentsToDevelopSoftware`	$215.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-215.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-188.00K	USD	1 Quarter
Repayment of insurance premium loan payable	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Repayment of insurance premium loan payable	`RepaymentsOfShortTermDebt`	$40.00K	USD	1 Quarter
Purchase of treasury stock in connection with restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$232.00K	USD	1 Quarter
Purchase of treasury stock in connection with restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$26.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-232.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-66.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$67.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-65.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.34M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.14M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.25M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.25M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.91M	USD	Point-in-time
Cash payments made for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash payments made for income taxes	`IncomeTaxesPaidNet`	$1.00K	USD	1 Quarter
Cash payments made for interest expenses	`InterestPaidNet`	$3.00K	USD	1 Quarter
Cash payments made for interest expenses	`InterestPaidNet`	-	USD	1 Quarter
Acquistion of Emojipedia through release of escrow fund of $4,776, due to seller of $2,118 and legal fee of $12	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	-	USD	1 Quarter
Acquistion of Emojipedia through release of escrow fund of $4,776, due to seller of $2,118 and legal fee of $12	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	$6.91M	USD	1 Quarter
Accounts receivable from certain Emojipedia websites collected by Seller	`AccountsReceivableFromCertainEmojipediaWebsitesCollectedBySeller`	-	USD	1 Quarter
Accounts receivable from certain Emojipedia websites collected by Seller	`AccountsReceivableFromCertainEmojipediaWebsitesCollectedBySeller`	$24.00K	USD	1 Quarter
Note payable issued for insurance premium financing	`StockIssued1`	$181.00K	USD	1 Quarter
Note payable issued for insurance premium financing	`StockIssued1`	-	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$33.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.98M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$237.00K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$319.00K	USD	1 Quarter
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-26.00K	USD	1 Quarter
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-232.00K	USD	1 Quarter
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-159.00K	USD	1 Quarter
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$142.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.04M	USD	1 Quarter
Balance	`StockholdersEquity`	$33.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.98M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.