10-Q Filing

ZEDGE, INC. CIK: 1667313 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001213900-22-080103`
Period End Date	20221031
Filing Date	20221215
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	f10q1022_zedgeinc_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 36 Cash Flow Statement 53 Stockholders Equity 16

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`Cash`	$18.42M	USD	Point-in-time
Cash and cash equivalents	`Cash`	$17.09M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$2.41M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$2.48M	USD	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseCurrent`	$601.00K	USD	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseCurrent`	$396.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.79M	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$21.02M	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$20.45M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Goodwill	`Goodwill`	$10.65M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Goodwill	`Goodwill`	$10.79M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$861.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$861.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	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`	$353.00K	USD	Point-in-time
Total assets	`Assets`	$55.60M	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`	$1.38M	USD	Point-in-time
Deferred acquisition payment payable	`LoansPayable`	$962.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	74,000.00	shares	Point-in-time
Contingent consideration-current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$215.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	204,000.00	shares	Point-in-time
Contingent consideration-current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$17.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.30M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.90M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$3.08M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$3.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.78M	USD	Point-in-time
Term Loan, net of deferred financing costs	`LongTermDebtNoncurrent`	$1.98M	USD	Point-in-time
Contingent consideration-long term portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$1.78M	USD	Point-in-time
Contingent consideration-long term portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$1.73M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$20.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$53.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$11.56M	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 October 31, 2022 and July 31, 2022	`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, 2022 and July 31, 2022	`CommonStockValue`	$5.00K	USD	Point-in-time
Class B common stock, $.01 par value; authorized shares40,000; 13,981 shares issued and 13,777 shares outstanding at October 31, 2022, and 13,951 shares issued and 13,877 outstanding at July 31, 2022	`CommonStockValueOne`	$139.00K	USD	Point-in-time
Class B common stock, $.01 par value; authorized shares40,000; 13,981 shares issued and 13,777 shares outstanding at October 31, 2022, and 13,951 shares issued and 13,877 outstanding at July 31, 2022	`CommonStockValueOne`	$140.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$44.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.61M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.99M	USD	Point-in-time
Treasury stock, 204 shares at October 31, 2022 and 74 shares at July 31, 2022, at cost	`TreasuryStockValue`	$644.00K	USD	Point-in-time
Treasury stock, 204 shares at October 31, 2022 and 74 shares at July 31, 2022, at cost	`TreasuryStockValue`	$334.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$33.16M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$35.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.04M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$55.60M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$54.63M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues, net	`Revenues`	$6.90M	USD	1 Quarter
Revenues, net	`Revenues`	$6.03M	USD	1 Quarter
Direct cost of revenues (excluding amortization of capitalized software and technology development costs which is included below)	`OperatingCostsAndExpenses`	$632.00K	USD	1 Quarter
Direct cost of revenues (excluding amortization of capitalized software and technology development costs which is included below)	`OperatingCostsAndExpenses`	$310.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.73M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.83M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$398.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$793.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-150.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-201.00K	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$2.59M	USD	1 Quarter
Interest and other income, net	`InterestIncomeExpenseNet`	$35.00K	USD	1 Quarter
Interest and other income, net	`InterestIncomeExpenseNet`	$13.00K	USD	1 Quarter
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-76.00K	USD	1 Quarter
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-10.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-242.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.59M	USD	1 Quarter
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$536.00K	USD	1 Quarter
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$-73.00K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$-169.00K	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$2.06M	USD	1 Quarter
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-259.00K	USD	1 Quarter
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$142.00K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTax`	$142.00K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTax`	$-259.00K	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-428.00K	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$2.20M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14,330.00	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14,281.00	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15,031.00	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14,330.00	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Escrow funds	`EscrowFund`	$4.78M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-169.00K	USD	1 Quarter
Due to seller	`DueToSeller`	$1.92M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.06M	USD	1 Quarter
Legal fee	`LegalFees`	$12.00K	USD	1 Quarter
Depreciation	`Depreciation`	$14.00K	USD	1 Quarter
Depreciation	`Depreciation`	$12.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$579.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$115.00K	USD	1 Quarter
Amortization of capitalized software and technology development costs	`DepreciationAndAmortization`	$271.00K	USD	1 Quarter
Amortization of capitalized software and technology development costs	`DepreciationAndAmortization`	$200.00K	USD	1 Quarter
Change in fair value of contingent consideration	`LoanForgiveness`	$-150.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$319.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$589.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$295.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$70.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$205.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$279.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-14.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$522.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$598.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-18.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-318.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.69M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.08M	USD	1 Quarter
Final payments for asset acquisitions	`InvestmentInPrivateCompany`	$962.00K	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`	$349.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.31M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-188.00K	USD	1 Quarter
Proceed from term loan payable	`ProceedsFromStockOptionsExercised`	$2.00M	USD	1 Quarter
Payment of deferred financing costs	`PaymentsOfDebtIssuanceCosts`	$18.00K	USD	1 Quarter
Purchase of treasury stock in connection with share buyback program and restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$232.00K	USD	1 Quarter
Purchase of treasury stock in connection with share buyback program and restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$310.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-232.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.67M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-109.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$67.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.34M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.33M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.25M	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`	$18.42M	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`	$27.25M	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`	$18.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.91M	USD	Point-in-time
Acquisition of Emojipedia through release of escrow funds of $4,776, plus additional amounts due to seller of $1,923 and legal fee of $12	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	-	USD	1 Quarter
Acquisition of Emojipedia through release of escrow funds of $4,776, plus additional amounts due to seller of $1,923 and legal fee of $12	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	$6.71M	USD	1 Quarter
Accounts receivable from certain Emojipedia websites collected by Seller	`StockIssued1`	$24.00K	USD	1 Quarter
Accounts receivable from certain Emojipedia websites collected by Seller	`StockIssued1`	-	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$44.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.04M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$319.00K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$590.00K	USD	1 Quarter
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-232.00K	USD	1 Quarter
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-310.00K	USD	1 Quarter
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$142.00K	USD	1 Quarter
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-259.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-169.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.06M	USD	1 Quarter
Balance	`StockholdersEquity`	$44.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.04M	USD	Point-in-time

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