10-K Filing

ZEDGE, INC. CIK: 1667313 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001213900-23-081544`
Period End Date	20230731
Filing Date	20231030
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	f10k2023_zedgeinc_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 75 Stockholders Equity 19

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.12M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.09M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$2.41M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$2.88M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, and outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseCurrent`	$396.00K	USD	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseCurrent`	$569.00K	USD	Point-in-time
Preferred stock, and outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.58M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.19M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.66M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$21.02M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$18.71M	USD	Point-in-time
Goodwill	`Goodwill`	$10.79M	USD	Point-in-time
Goodwill	`Goodwill`	$1.96M	USD	Point-in-time
Goodwill	`Goodwill`	$2.26M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$861.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	833,000.00	shares	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$1.84M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	74,000.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$556.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$400.00K	USD	Point-in-time
Total assets	`Assets`	$54.63M	USD	Point-in-time
Total assets	`Assets`	$46.83M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$669.00K	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$1.18M	USD	Point-in-time
Deferred acquisition payment payable	`AssetAcquisitionContingentConsiderationLiabilityCurrent`	-	USD	Point-in-time
Deferred acquisition payment payable	`AssetAcquisitionContingentConsiderationLiabilityCurrent`	$962.00K	USD	Point-in-time
Contingent consideration-current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$215.00K	USD	Point-in-time
Contingent consideration-current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	-	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.90M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.68M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$3.40M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$2.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.66M	USD	Point-in-time
Term loan, net of deferred financing costs	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Term loan, net of deferred financing costs	`LongTermDebtNoncurrent`	$1.99M	USD	Point-in-time
Contingent consideration-long term portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	-	USD	Point-in-time
Contingent consideration-long term portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$1.73M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$53.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$223.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$10.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.97M	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
Additional paid-in capital	`AdditionalPaidInCapital`	$46.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.61M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.54M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.39M	USD	Point-in-time
(Accumulated deficit) retained earnings	`RetainedEarningsAccumulatedDeficit`	$-3.94M	USD	Point-in-time
(Accumulated deficit) retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.16M	USD	Point-in-time
Treasury stock, 833 shares at July 31, 2023 and 74 shares at July 31, 2022, at cost	`TreasuryStockCommonValue`	$334.00K	USD	Point-in-time
Treasury stock, 833 shares at July 31, 2023 and 74 shares at July 31, 2022, at cost	`TreasuryStockCommonValue`	$1.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$38.86M	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 liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$46.83M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$54.63M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$26.55M	USD	Annual
Revenues	`Revenues`	$27.24M	USD	Annual
Direct cost of revenues (exclusive of amortization of capitalized software and technology development costs included below)	`OperatingCostsAndExpenses`	$2.24M	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`	$21.86M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$3.27M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.97M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	$8.73M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	-	USD	Annual
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-3.96M	USD	Annual
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-1.94M	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$-6.91M	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$11.84M	USD	Annual
Interest and other income, net	`InterestIncomeExpenseNet`	$311.00K	USD	Annual
Interest and other income, net	`InterestIncomeExpenseNet`	$49.00K	USD	Annual
Net income (loss) resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$36.00K	USD	Annual
Net income (loss) resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-281.00K	USD	Annual
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.56M	USD	Annual
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.61M	USD	Annual
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$1.89M	USD	Annual
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$-462.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$9.71M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-6.10M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$146.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$394.00K	USD	Annual
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-146.00K	USD	Annual
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-394.00K	USD	Annual
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-6.25M	USD	Annual
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$9.32M	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.69	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.43	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.65	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.43	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.10M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.18M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.10M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.86M	shares	Annual

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Escrow funds	`EscrowFund`	$4.78M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$9.71M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-6.10M	USD	Annual
Due to seller	`DueToSeller`	$1.92M	USD	Annual
Legal fees	`LegalFees`	$12.00K	USD	Annual
Depreciation	`Depreciation`	$60.00K	USD	Annual
Depreciation	`Depreciation`	$48.00K	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.32M	USD	Annual
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.01M	USD	Annual
Amortization of capitalized software and technology development costs	`OtherDepreciationAndAmortization`	$910.00K	USD	Annual
Amortization of capitalized software and technology development costs	`OtherDepreciationAndAmortization`	$893.00K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$3.00K	USD	Annual
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-3.96M	USD	Annual
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-1.94M	USD	Annual
Loss on goodwill impairment	`GoodwillImpairmentLoss`	$8.73M	USD	Annual
Loss on goodwill impairment	`GoodwillImpairmentLoss`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$2.52M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.94M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-981.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-384.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-371.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$472.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$173.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$161.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-14.00K	USD	Annual
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-711.00K	USD	Annual
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$436.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.58M	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-988.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.16M	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	`PaymentsToAcquireOtherProductiveAssets`	$917.00K	USD	Annual
Payments for asset acquisitions	`PaymentsToAcquireOtherProductiveAssets`	$962.00K	USD	Annual
Capitalized software and technology development costs	`PaymentsToDevelopSoftware`	$566.00K	USD	Annual
Capitalized software and technology development costs	`PaymentsToDevelopSoftware`	$1.41M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$45.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$54.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.42M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.95M	USD	Annual
Proceeds from term loan payable	`ProceedsFromIssuanceOfLongTermDebt`	$2.00M	USD	Annual
Proceeds from term loan payable	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	Annual
Payment of deferred financing costs	`PaymentsOfFinancingCosts`	$18.00K	USD	Annual
Payment of deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.00K	USD	Annual
Purchase of treasury stock in connection with share buyback program and stock awards vesting	`PaymentsForRepurchaseOfCommonStock`	$1.60M	USD	Annual
Purchase of treasury stock in connection with share buyback program and stock awards vesting	`PaymentsForRepurchaseOfCommonStock`	$232.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$387.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-223.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-87.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-142.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.04M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.82M	USD	Annual
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.12M	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`	$18.12M	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	`IncomeTaxesPaid`	$2.36M	USD	Annual
Cash payments made for income taxes	`IncomeTaxesPaid`	$795.00K	USD	Annual
Cash payments made for interest expenses	`InterestPaidNet`	$118.00K	USD	Annual
Cash payments made for interest expenses	`InterestPaidNet`	-	USD	Annual
Contingent consideration fair value on acquisition date	`ContingentConsiderationFairValueOnAcquisitionDate`	$5.90M	USD	Annual
Contingent consideration fair value on acquisition date	`ContingentConsiderationFairValueOnAcquisitionDate`	-	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, plus additional amounts due to seller of $1,923 and legal fees of $12	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	-	USD	Annual
Acquisition of Emojipedia through release of escrow funds of $4,776, plus additional amounts due to seller of $1,923 and legal fees 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

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$38.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.16M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.00K	USD	Annual
Exercise of stock options (in Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	2,000.00	shares	Annual
Exercise of stock options (in Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	5,000.00	shares	Annual
Restricted stock issuance in connection with GuruShots acquisition	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.52M	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.94M	USD	Annual
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$232.00K	USD	Annual
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$1.60M	USD	Annual
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-146.00K	USD	Annual
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-394.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$9.71M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-6.10M	USD	Annual
Balance	`StockholdersEquity`	$38.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.16M	USD	Point-in-time

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