10-K Filing

ZEDGE, INC. CIK: 1667313 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001213900-22-072153`
Period End Date	20220731
Filing Date	20221114
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	f10k2022_zedgeinc_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 35 Cash Flow Statement 73 Stockholders Equity 19

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`Cash`	$24.91M	USD	Point-in-time
Cash and cash equivalents	`Cash`	$17.09M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$2.54M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$2.41M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$396.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$160.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.61M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.66M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.98M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$21.02M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$2.26M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Goodwill	`Goodwill`	$10.79M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$477.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$861.00K	USD	Point-in-time
Preferred stock, and outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, and outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$400.00K	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`	$54.63M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$1.18M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$585.00K	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
Deferred acquisition payment payable	`LoansPayable`	$962.00K	USD	Point-in-time
Deferred acquisition payment payable	`LoansPayable`	-	USD	Point-in-time
Contingent consideration-current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$215.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.90M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.77M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$3.40M	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`	$8.66M	USD	Point-in-time
Contingent consideration-long term portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$1.73M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$145.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$53.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.32M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.44M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized shares2,400; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized shares2,400; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Class A common stock, $.01 par value; authorized shares2,600; 525 shares issued and outstanding at July 31, 2022 and 2021	`CommonStockValue`	$5.00K	USD	Point-in-time
Class A common stock, $.01 par value; authorized shares2,600; 525 shares issued and outstanding at July 31, 2022 and 2021	`CommonStockValue`	$5.00K	USD	Point-in-time
Class B common stock, $.01 par value; authorized shares40,000; 13,951 shares issued and 13,877 shares outstanding at July 31, 2022, and 13,923 shares issued and 13,865 outstanding at July 31, 2021	`CommonStockValueOne`	$139.00K	USD	Point-in-time
Class B common stock, $.01 par value; authorized shares40,000; 13,951 shares issued and 13,877 shares outstanding at July 31, 2022, and 13,923 shares issued and 13,865 outstanding at July 31, 2021	`CommonStockValueOne`	$139.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.66M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-997.00K	USD	Point-in-time
Retained Earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$2.16M	USD	Point-in-time
Retained Earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-7.55M	USD	Point-in-time
Treasury stock, 74 shares at July 31, 2022 and 58 shares at July 31, 2021, at cost	`TreasuryStockValue`	$102.00K	USD	Point-in-time
Treasury stock, 74 shares at July 31, 2022 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`	$44.19M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$54.63M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$37.48M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenues, net	`Revenues`	$26.55M	USD	Annual
Revenues, net	`Revenues`	$19.57M	USD	Annual
Direct cost of revenues (exclusive of amortization of capitalized software and technology development costs included below)	`OperatingCostsAndExpenses`	$1.19M	USD	Annual
Direct cost of revenues (exclusive of amortization of capitalized software and technology development costs included below)	`OperatingCostsAndExpenses`	$1.64M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$15.06M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.31M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.26M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.97M	USD	Annual
Change in fair value of contingent consideration	`GainLossOnDerivativeInstrumentsNetPretax`	$3.96M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$11.84M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$7.80M	USD	Annual
Interest and other income, net	`InterestIncomeExpenseNet`	$49.00K	USD	Annual
Interest and other income, net	`InterestIncomeExpenseNet`	$245.00K	USD	Annual
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-2.00K	USD	Annual
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-281.00K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.05M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.61M	USD	Annual
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-202.00K	USD	Annual
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$1.89M	USD	Annual
Net income	`NetIncomeLoss`	$9.71M	USD	Annual
Net income	`NetIncomeLoss`	$8.25M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-394.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$88.00K	USD	Annual
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTax`	$-394.00K	USD	Annual
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTax`	$88.00K	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.34M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.32M	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.63	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.69	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.65	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.59	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.18M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.16M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.04M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.86M	shares	Annual

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Escrow funds	`EscrowFund`	$4.78M	USD	Annual
Due to seller	`DueToSeller`	$1.92M	USD	Annual
Net income	`NetIncomeLoss`	$9.71M	USD	Annual
Net income	`NetIncomeLoss`	$8.25M	USD	Annual
Legal fee	`LegalFees`	$12.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.26M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.97M	USD	Annual
Change in fair value of contingent consideration	`UnrealizedGainLossOnDerivatives`	-	USD	Annual
Change in fair value of contingent consideration	`UnrealizedGainLossOnDerivatives`	$3.96M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$652.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.94M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-477.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-384.00K	USD	Annual
PPP Loan forgiveness	`LoanForgiveness`	-	USD	Annual
PPP Loan forgiveness	`LoanForgiveness`	$-218.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-371.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.14M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$161.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-257.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-232.00K	USD	Annual
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$436.00K	USD	Annual
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$830.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.58M	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$483.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.13M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.49M	USD	Annual
Payments for business combination, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Payments for business combination, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$17.42M	USD	Annual
Payments for asset acquisitions	`PaymentsToAcquireIntangibleAssets`	$4.78M	USD	Annual
Payments for asset acquisitions	`PaymentsToAcquireIntangibleAssets`	$917.00K	USD	Annual
Capitalized software and technology development costs and purchase of equipment	`PaymentsToDevelopSoftware`	$653.00K	USD	Annual
Capitalized software and technology development costs and purchase of equipment	`PaymentsToDevelopSoftware`	$611.00K	USD	Annual
Investment in private company	`InvestmentInPrivateCompany`	-	USD	Annual
Investment in private company	`InvestmentInPrivateCompany`	$50.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.48M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.95M	USD	Annual
Proceeds from sales of Class B Common Stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from sales of Class B Common Stock	`ProceedsFromIssuanceOfCommonStock`	$15.00M	USD	Annual
Payment of issuance costs	`PaymentsOfDebtIssuanceCosts`	$565.00K	USD	Annual
Payment of issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Repayment of insurance premium loan payable	`RepaymentsOfShortTermDebt`	$181.00K	USD	Annual
Repayment of insurance premium loan payable	`RepaymentsOfShortTermDebt`	-	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$873.00K	USD	Annual
Purchase of treasury stock in connection with restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$232.00K	USD	Annual
Purchase of treasury stock in connection with restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$26.00K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.10M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-223.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-142.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$45.00K	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$19.80M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.82M	USD	Annual
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.09M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.91M	USD	Point-in-time
Cash payments made for income taxes	`IncomeTaxesPaidNet`	$2.36M	USD	Annual
Cash payments made for income taxes	`IncomeTaxesPaidNet`	$1.00K	USD	Annual
Cash payments made for interest expenses	`InterestPaidNet`	$3.00K	USD	Annual
Cash payments made for interest expenses	`InterestPaidNet`	-	USD	Annual
Contingent consideration fair value on acquisition date	`ContingentConsiderationRelatedToBusinessAcquisition`	$5.90M	USD	Annual
Contingent consideration fair value on acquisition date	`ContingentConsiderationRelatedToBusinessAcquisition`	-	USD	Annual
Right-of-use assets acquired under operating leases	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	Annual
Right-of-use assets acquired under operating leases	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$86.00K	USD	Annual
Acquisition of Emojipedia through release of escrow funds of $4,776, due to seller of $1,923 and legal fee of $12	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	-	USD	Annual
Acquisition of Emojipedia through release of escrow funds of $4,776, due to seller of $1,923 and legal fee of $12	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	$6.71M	USD	Annual
Accounts receivable from certain Emojipedia websites collected by Seller	`AccountsReceivableFromCertainEmojipediaWebsitesCollectedBySeller`	$45.00K	USD	Annual
Accounts receivable from certain Emojipedia websites collected by Seller	`AccountsReceivableFromCertainEmojipediaWebsitesCollectedBySeller`	-	USD	Annual
Note payable issued for insurance premium financing	`StockIssued1`	$181.00K	USD	Annual
Note payable issued for insurance premium financing	`StockIssued1`	-	USD	Annual

Stockholders Equity 19 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`	$44.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.19M	USD	Point-in-time
Net proceeds from sales of Class B Common Stock	`StockIssuedDuringPeriodValueNewIssues`	$14.44M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$873.00K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$613.00K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.89M	USD	Annual
Stock issued for matching contributions to the 401(k) Plan	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$39.00K	USD	Annual
Stock issued for matching contributions to the 401(k) Plan	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$43.00K	USD	Annual
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-26.00K	USD	Annual
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-232.00K	USD	Annual
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$88.00K	USD	Annual
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-394.00K	USD	Annual
Net income	`ProfitLoss`	$8.25M	USD	Annual
Net income	`ProfitLoss`	$9.71M	USD	Annual

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