10-Q Filing

ZEDGE, INC. CIK: 1667313 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001213900-23-095720`
Period End Date	20231031
Filing Date	20231214
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	f10q1023_zedgeinc_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 36 Cash Flow Statement 62 Stockholders Equity 17

Balance Sheet 63 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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.75M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$3.18M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$2.88M	USD	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseCurrent`	$635.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseCurrent`	$569.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.58M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.42M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.19M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$18.13M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$18.71M	USD	Point-in-time
Goodwill	`Goodwill`	$1.96M	USD	Point-in-time
Goodwill	`Goodwill`	$1.78M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	839,000.00	shares	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
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$1.84M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$439.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$556.00K	USD	Point-in-time
Total assets	`Assets`	$47.18M	USD	Point-in-time
Total assets	`Assets`	$46.83M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$815.00K	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$669.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.68M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.91M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$2.41M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$2.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.97M	USD	Point-in-time
Term loan, net of deferred financing costs	`LongTermDebtNoncurrent`	$1.99M	USD	Point-in-time
Term loan, net of deferred financing costs	`LongTermDebtNoncurrent`	$1.99M	USD	Point-in-time
Deferred revenues-non-current	`DeferredRevenueNoncurrent`	$74.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$171.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$223.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.20M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`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`	$46.63M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$46.12M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.54M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.94M	USD	Point-in-time
Treasury stock, 839 shares at October 31, 2023 and 833 shares at July 31, 2023, at cost	`TreasuryStockCommonValue`	$1.94M	USD	Point-in-time
Treasury stock, 839 shares at October 31, 2023 and 833 shares at July 31, 2023, at cost	`TreasuryStockCommonValue`	$1.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$38.86M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$38.98M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.19M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$46.83M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$47.18M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$7.08M	USD	1 Quarter
Revenues	`Revenues`	$6.90M	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`	$486.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.83M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$793.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$775.00K	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
Income (loss) from operations	`OperatingIncomeLoss`	$-201.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$321.00K	USD	1 Quarter
Interest and other income, net	`InterestIncomeExpenseNet`	$35.00K	USD	1 Quarter
Interest and other income, net	`InterestIncomeExpenseNet`	$81.00K	USD	1 Quarter
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-76.00K	USD	1 Quarter
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-219.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-242.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$183.00K	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$198.00K	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-73.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-169.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.00K	USD	1 Quarter
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$367.00K	USD	1 Quarter
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$259.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-259.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-367.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-428.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-382.00K	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.97M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.33M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.33M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.97M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-169.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.00K	USD	1 Quarter
Depreciation	`Depreciation`	$14.00K	USD	1 Quarter
Depreciation	`Depreciation`	$14.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$579.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$579.00K	USD	1 Quarter
Amortization of capitalized software and technology development costs	`OtherDepreciationAndAmortization`	$182.00K	USD	1 Quarter
Amortization of capitalized software and technology development costs	`OtherDepreciationAndAmortization`	$200.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$1.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Impairment of investment in privately-held company	`ImpairmentOfInvestmentInPrivatelyHeldCompany`	$50.00K	USD	1 Quarter
Impairment of investment in privately-held company	`ImpairmentOfInvestmentInPrivatelyHeldCompany`	-	USD	1 Quarter
Change in fair value of contingent consideration	`ChangeInFairValueOfContingentConsideration`	-	USD	1 Quarter
Change in fair value of contingent consideration	`ChangeInFairValueOfContingentConsideration`	$-150.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$507.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$589.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$300.00K	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`	$66.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-14.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-14.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$598.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$384.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-318.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-90.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.26M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.08M	USD	1 Quarter
Final payments for asset acquisitions	`PaymentsToAcquireOtherProductiveAssets`	-	USD	1 Quarter
Final payments for asset acquisitions	`PaymentsToAcquireOtherProductiveAssets`	$962.00K	USD	1 Quarter
Capitalized software and technology development costs	`PaymentsToDevelopSoftware`	$423.00K	USD	1 Quarter
Capitalized software and technology development costs	`PaymentsToDevelopSoftware`	$310.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$39.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.31M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-445.00K	USD	1 Quarter
Proceeds from term loan payable	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from term loan payable	`ProceedsFromIssuanceOfLongTermDebt`	$2.00M	USD	1 Quarter
Payment of deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Payment of deferred financing costs	`PaymentsOfFinancingCosts`	$18.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.00K	USD	1 Quarter
Purchase of treasury stock in connection with share buyback program and stock awards vesting	`PaymentsForRepurchaseOfCommonStock`	$13.00K	USD	1 Quarter
Purchase of treasury stock in connection with share buyback program and stock awards vesting	`PaymentsForRepurchaseOfCommonStock`	$310.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.00K	USD	1 Quarter
Net cash (used in) provided by 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`	$-185.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$620.00K	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`	$18.75M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.12M	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`	$17.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.75M	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`	$18.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.09M	USD	Point-in-time
Cash payments made for income taxes	`IncomeTaxesPaid`	$36.00K	USD	1 Quarter
Cash payments made for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash payments made for interest	`InterestPaidNet`	$46.00K	USD	1 Quarter
Cash payments made for interest	`InterestPaidNet`	-	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$44.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.19M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.00K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$590.00K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$507.00K	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$13.00K	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$310.00K	USD	1 Quarter
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-367.00K	USD	1 Quarter
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-259.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-169.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$44.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.19M	USD	Point-in-time

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