ACCESS Newswire
23 Oct 2020, 01:43 GMT+10
Company Delivers Record Cash Flow from Operations during Fiscal 2020;
NEW YORK, NY / ACCESSWIRE / October 22, 2020 / Zedge, Inc. (NYSE American:ZDGE), a worldwide mobile publishing and content platform provider, today announced results for the fiscal fourth quarter and full fiscal-year 2020 ended July 31, 2020.
'Zedge had a strong fourth quarter and finished the year on a high note with encouraging momentum heading into our new fiscal year,' said Jonathan Reich, chief executive officer. 'The investments we've made in product development, combined with improved ad optimization, strong paid subscription growth and the cost reductions we implemented this past year helped us generate positive earnings per share in the fourth quarter. Additionally, at the outset of fiscal 2020, we announced that one of our key goals was being cash flow positive in the fiscal fourth quarter, and we surpassed this by generating positive cash flow every quarter during the year.'
'Our fourth quarter paid subscriber count continued to grow at an impressive pace and contributed to a 50% year-over-year increase in average revenue per monthly active user, or ARPMAU. We were also encouraged to see the gross transaction value, or GTV, for our Zedge Premium marketplace return to double-digit growth after a temporary pandemic-related slowdown last quarter.'
4th Fiscal Quarter Highlights
Select Financial Metrics: Fiscal 4th Quarter and Fulll Year 2020 Comparisons
Full-year 2020 Highlights
Fiscal 2021 Commentary
'Our momentum has continued into the first quarter, and we are excited by the opportunity of further diversifying our existing revenue streams in the future,' continued Reich, 'We expect to introduce new features, products and monetization models to drive continued growth beyond the strength we are seeing in our flagship Zedge app, as well as our Zedge Premium marketplace. As we look to the full-year, we are targeting revenue growth of greater than 20%, continued positive cash flow and profitability on a quarterly and full-year basis.'
Earnings Announcement and Supplemental Information
Zedge's earnings release will be filed on Form 8-K and posted on the Zedge investor relations website (https://investor.zedge.net) at approximately 4:10PM Eastern on October 22, 2020.
Zedge's management will host an earnings conference call beginning at 4:30PM Eastern. Management's presentation of the results, outlook and strategy will be followed by Q&A with investors.
To participate in the call, please dial Toll Free: 844-602-0380 or International: 862-298-0970 at least five minutes before the 4:30PM Eastern start and ask for the Zedge earnings conference call.
The call will also be webcast through the following link and will be live through Tuesday, December 22, 2020: https://www.webcaster4.com/Webcast/Page/2205/37697
Following the call and continuing through Thursday, November 05, 2020 a call replay will be available by dialing Toll Free: 877-481-4010 or International: 919-882-2331 and entering the replay access code: 37697
About Zedge
Zedge offers a state-of-the-art digital publishing platform that powers our consumer-facing app availing users with a host of digital content - wallpapers, video wallpapers, ringtones, and stickers. We are evolving by developing new apps run on top of our publishing platform and generally focus on the entertainment vertical. Our creators are amateur and professional artists as well as new and major brands who can easily launch a virtual storefront in Zedge where they can market and sell their content to our user base. Our app has been downloaded 450 million times, has approximately 32 million monthly active users and has consistently been ranked as one of the most popular free apps in Google Play in the US. For more information, visit https://www.zedge.net.
Forward Looking Statements
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words 'believe,' 'anticipate,' 'expect,' 'plan,' 'intend,' 'estimate,' 'target' and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.
Contact:
Hayden IR
Brian Siegel
[email protected]
ZEDGE, INC.
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SOURCE: Zedge, Inc.
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