Zedge (ZDGE)
Market Price (11/4/2026): $2.38 | Market Cap: $36.9 MilSector: Communication Services | Industry: Interactive Media & Services
Zedge (ZDGE)
Market Price (11/4/2026): $2.38Market Cap: $36.9 MilSector: Communication ServicesIndustry: Interactive Media & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -70% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -29% Attractive yieldDividend Yield is 2.5%, FCF Yield is 15% Megatrend and thematic driversMegatrends include Social Media & Creator Economy, Digital Advertising, and E-commerce & Digital Retail. Themes include Creator Economy Monetization, Show more. | Weak multi-year price returns2Y Excs Rtn is -55%, 3Y Excs Rtn is -66% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.3% Key risksZDGE key risks include [1] persistent profitability and operational efficiency issues, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -70% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -29% |
| Attractive yieldDividend Yield is 2.5%, FCF Yield is 15% |
| Megatrend and thematic driversMegatrends include Social Media & Creator Economy, Digital Advertising, and E-commerce & Digital Retail. Themes include Creator Economy Monetization, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -55%, 3Y Excs Rtn is -66% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.3% |
| Key risksZDGE key risks include [1] persistent profitability and operational efficiency issues, Show more. |
Qualitative Assessment
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Zedge (ZDGE) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Significant Decline in Monthly Active Users (MAU).
Zedge experienced a notable contraction in its user base during fiscal Q4 2026 (ended July 31, 2026), with Monthly Active Users (MAU) decreasing by 16.8% year-over-year to 19.3 million. This decline was evident across key regions, with developed-market MAUs falling by 22.2% and emerging-market users decreasing by 15.2%, signaling a reduction in the core platform's reach.
2. Weakness in Advertising and Digital Goods Revenue.
For fiscal Q4 2026, advertising revenue saw a 1.9% year-over-year decrease to $5.1 million, largely due to continued challenges with Emojipedia, which negatively impacted consolidated revenue growth by approximately 300 basis points. Additionally, revenue from digital goods and services declined by 10.2% annually and 2.2% quarter-over-quarter, indicating persistent difficulties in monetizing these segments.
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Zedge (ZDGE) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Significant Decline in Monthly Active Users (MAU).
Zedge experienced a notable contraction in its user base during fiscal Q4 2026 (ended July 31, 2026), with Monthly Active Users (MAU) decreasing by 16.8% year-over-year to 19.3 million. This decline was evident across key regions, with developed-market MAUs falling by 22.2% and emerging-market users decreasing by 15.2%, signaling a reduction in the core platform's reach.
2. Weakness in Advertising and Digital Goods Revenue.
For fiscal Q4 2026, advertising revenue saw a 1.9% year-over-year decrease to $5.1 million, largely due to continued challenges with Emojipedia, which negatively impacted consolidated revenue growth by approximately 300 basis points. Additionally, revenue from digital goods and services declined by 10.2% annually and 2.2% quarter-over-quarter, indicating persistent difficulties in monetizing these segments.
3. Management's Cautious Fiscal Year 2027 Outlook.
Despite reporting stronger fiscal year 2026 results and growth in subscription offerings, management, led by CEO Morris Berger, issued a cautionary outlook for fiscal year 2027 (which commenced August 1, 2026), highlighting expected revenue variability. This forward-looking statement likely introduced uncertainty among investors regarding the company's near-term financial performance.
4. Negative Analyst Sentiment Post-Earnings.
Following the release of Zedge's fiscal Q4 2026 earnings on October 26, 2026, at least one Wall Street analyst assigned a "Sell" rating to the stock. This negative analyst sentiment contributed to the downward pressure on ZDGE shares, overshadowing some positive aspects of the earnings report, such as beats on EPS and revenue, and robust subscription growth.
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Stock Movement Drivers
Fundamental Drivers
The -24.7% change in ZDGE stock from 7/31/2026 to 11/2/2026 was primarily driven by a -25.5% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.95 | 2.22 | -24.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 31 | 32 | 1.0% |
| P/S Multiple | 1.2 | 0.9 | -25.5% |
| Shares Outstanding (Mil) | 13 | 13 | 0.0% |
| Cumulative Contribution | -24.7% |
Market Drivers
7/31/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| ZDGE | -24.7% | |
| Market (SPY) | 0.7% | 16.9% |
| Sector (XLC) | -7.4% | -1.3% |
Fundamental Drivers
The -32.9% change in ZDGE stock from 4/30/2026 to 11/2/2026 was primarily driven by a -33.8% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.31 | 2.22 | -32.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 31 | 32 | 1.7% |
| P/S Multiple | 1.4 | 0.9 | -33.8% |
| Shares Outstanding (Mil) | 13 | 13 | -0.4% |
| Cumulative Contribution | -32.9% |
Market Drivers
4/30/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| ZDGE | -32.9% | |
| Market (SPY) | 4.9% | -0.1% |
| Sector (XLC) | -13.7% | 0.9% |
Fundamental Drivers
The -10.2% change in ZDGE stock from 10/31/2025 to 11/2/2026 was primarily driven by a -19.3% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.47 | 2.22 | -10.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 29 | 32 | 7.6% |
| P/S Multiple | 1.1 | 0.9 | -19.3% |
| Shares Outstanding (Mil) | 13 | 13 | 3.4% |
| Cumulative Contribution | -10.2% |
Market Drivers
10/31/2025 to 11/2/2026| Return | Correlation | |
|---|---|---|
| ZDGE | -10.2% | |
| Market (SPY) | 11.2% | 13.7% |
| Sector (XLC) | -11.9% | 12.4% |
Fundamental Drivers
The 18.4% change in ZDGE stock from 10/31/2023 to 11/2/2026 was primarily driven by a 16.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.88 | 2.22 | 18.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 27 | 32 | 16.1% |
| P/S Multiple | 0.9 | 0.9 | -3.4% |
| Shares Outstanding (Mil) | 14 | 13 | 5.6% |
| Cumulative Contribution | 18.4% |
Market Drivers
10/31/2023 to 11/2/2026| Return | Correlation | |
|---|---|---|
| ZDGE | 18.4% | |
| Market (SPY) | 86.0% | 18.0% |
| Sector (XLC) | 59.8% | 15.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ZDGE Return | 41% | -79% | 34% | 14% | 23% | -31% | -62% |
| Peers Return | 35% | -47% | 79% | 21% | 6% | -13% | 44% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| ZDGE Win Rate | 50% | 25% | 50% | 58% | 42% | 36% | |
| Peers Win Rate | 60% | 31% | 67% | 50% | 48% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| ZDGE Max Drawdown | -56% | -82% | -49% | -59% | -52% | -46% | |
| Peers Max Drawdown | -32% | -55% | -31% | -32% | -38% | -44% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: Z, ZIP, PAAI, GOOGL, META.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/2/2026 (YTD)
How Low Can It Go
| Event | ZDGE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.1% | -18.8% |
| % Gain to Breakeven | 49.5% | 23.1% |
| Time to Breakeven | 63 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -12.5% | -7.8% |
| % Gain to Breakeven | 14.3% | 8.5% |
| Time to Breakeven | 4 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -23.6% | -9.5% |
| % Gain to Breakeven | 30.8% | 10.5% |
| Time to Breakeven | 23 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.1% | -6.7% |
| % Gain to Breakeven | 51.7% | 7.1% |
| Time to Breakeven | 304 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -47.3% | -33.7% |
| % Gain to Breakeven | 89.9% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -14.8% | -19.2% |
| % Gain to Breakeven | 17.4% | 23.8% |
| Time to Breakeven | 18 days | 105 days |
In The Past
Zedge's stock fell -33.1% during the 2025 US Tariff Shock. Such a loss loss requires a 49.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | ZDGE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.1% | -18.8% |
| % Gain to Breakeven | 49.5% | 23.1% |
| Time to Breakeven | 63 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -23.6% | -9.5% |
| % Gain to Breakeven | 30.8% | 10.5% |
| Time to Breakeven | 23 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.1% | -6.7% |
| % Gain to Breakeven | 51.7% | 7.1% |
| Time to Breakeven | 304 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -47.3% | -33.7% |
| % Gain to Breakeven | 89.9% | 50.9% |
| Time to Breakeven | 112 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -43.3% | -3.7% |
| % Gain to Breakeven | 76.4% | 3.9% |
| Time to Breakeven | 306 days | 6 days |
In The Past
Zedge's stock fell -33.1% during the 2025 US Tariff Shock. Such a loss loss requires a 49.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Zedge (ZDGE)
Zedge, Inc. (ZDGE) operates a global digital publishing and content platform designed to empower consumers to personalize their mobile devices. The company serves a broad international market of smartphone and tablet users who seek to customize their device's aesthetics and sounds beyond standard settings.
Through its platform, Zedge offers a comprehensive suite of digital assets for personalization. These include a wide variety of ringtones, wallpapers (static and live), notification sounds, and home screen app icons. Additionally, the platform provides widgets, allowing users to further enhance and tailor their mobile user interface and experience.
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- Etsy for digital phone personalization.
- Pinterest for downloadable phone aesthetics.
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- Ringtones: Digital audio files available for users to set as call alerts on their mobile devices.
- Home screen app icons: Customizable graphical representations for applications displayed on a mobile device's home screen.
- Wallpapers: Digital images used as background displays for mobile device screens.
- Widgets: Small, interactive application components that can be added to a mobile device's home screen for quick information or functionality.
- Notification sounds: Short audio clips used to alert users to various notifications from applications on their mobile devices.
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Major Customers of Zedge (ZDGE)
Zedge, Inc. sells primarily to individuals (consumers) who wish to personalize their mobile devices. Based on the company's operations, its customer categories can be described as follows:
- Mobile Device Personalization Enthusiasts: These are individuals who actively seek to customize their smartphones and tablets. They frequently update their device's aesthetic and auditory elements, such as wallpapers, ringtones, app icons, and notification sounds, to reflect their personal style, mood, or current trends.
- Content Seekers for Specific Interests: This category includes users who look for specific types of content related to their hobbies, interests, or affiliations. Examples include fans searching for themed wallpapers (e.g., sports teams, movies, games), specific genres of music for ringtones, or unique notification sounds.
- Functional Customizers: Users who utilize Zedge to enhance the functionality or clarity of their mobile experience. This might involve setting distinct ringtones for specific contacts, unique notification sounds for particular applications, or wallpapers that improve screen usability. They value the variety Zedge offers to meet specific practical needs.
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- Apple Inc. (AAPL)
- Alphabet Inc. (GOOGL)
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Jonathan Reich, Chief Executive Officer & President
Jonathan Reich was appointed CEO of Zedge in August 2020, having previously served as President since 2011, CFO from 2016 to 2020, and COO from 2011 to 2020. Before joining Zedge, he was President of Fabrix Systems, Inc. from 2007 to 2014, a company that was later acquired by Ericsson for $100 million. From 1999 to 2007, he held various positions at Net2Phone, Inc., ultimately serving as CEO of Net2Phone Global Services, and was involved when Net2Phone went public in 1999. He began his career on Wall Street and later joined the telecommunications start-up IDT, which went public in 1996. He holds a B.S. and M.S. in Operations Research from Columbia University's School of Engineering and Applied Science.
Yi Tsai, Chief Financial Officer & Treasurer
Yi Tsai has served as Zedge's Chief Financial Officer and Treasurer since August 5, 2020, and was the company's Controller from August 2017 to August 2020. Prior to Zedge, he was the Chief Financial Officer of Peerless Systems Corporation, a NASDAQ-listed company, from November 2012 until its sale to a financial buyer in February 2015. He started his accounting career with Deloitte in Taiwan and has held positions with various financial institutions and multinational corporations in New York City. Mr. Tsai is a CPA and earned a B.S. in Accounting from National Taipei University and an MBA in Finance from Case Western Reserve University's Weatherhead School of Management.
Tim Quirk, SVP, Product
Tim Quirk joined Zedge in 2017 following the acquisition of his company, Freeform Development, a marketplace for musicians. Before Freeform, he was Google's Head of Global Content Programming for Google Play and led the music content and operations team for Rhapsody. He is also recognized as the singer and lyricist for the punk-pop band Too Much Joy.
Michael C. Jonas, Executive Chairman
Michael C. Jonas has served as Zedge's Executive Chairman since October 2017 and as Chairman of the Board since November 2016. He also held the role of Interim Chief Executive Officer from August 2019 to November 2019. He is the controlling stockholder of Zedge. His previous experience includes serving as Executive Vice President of Genie Energy and CEO of Genie Oil Development. He also held various positions at IDT Corporation from 2005 to 2011.
Howard S. Jonas, Vice-Chairman of the Board
Howard S. Jonas has been the Vice-Chairman of Zedge's Board of Directors since November 2016. He founded IDT Corporation in 1990 and has served as its Chairman of the Board since its inception, also holding the CEO position during several periods. He is also the founder and President of Jonas Media Group. The Jonas family has a history of successful exits in the technology, media, and telecommunications (TMT) space, including the sale of IDT Entertainment to Starz for $500 million and Straight Path Communications to Verizon for $3.2 billion. Zedge itself was spun off from IDT Corp in June 2016, with the Jonas family retaining significant holdings.
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Key Risks to Zedge (ZDGE)
- Platform Dependency and Potential Devaluation of Core Offerings: Zedge's business heavily relies on third-party mobile operating systems and app stores, primarily Apple's iOS and Google's Android. Changes in these platforms' policies, algorithms, or native functionalities that enhance device personalization could directly devalue Zedge's core offerings of wallpapers, ringtones, and app icons. This creates a significant vulnerability as Zedge's ability to reach and monetize its user base is largely dependent on these external platforms.
- Declining Monthly Active Users (MAU) and Advertising Revenue Vulnerability: While Zedge has demonstrated growth in average revenue per monthly active user (ARPMAU) and subscription revenue, the company has experienced a decline in its overall Monthly Active Users (MAU). This trend indicates challenges in user acquisition and retention, which could impact future growth. Furthermore, a substantial portion of Zedge's revenue still comes from advertising, making it susceptible to fluctuations in the digital advertising market, changes in search engine algorithms (as seen with Emojipedia traffic being affected by Google SERP changes), and potential customer concentration where one customer can represent a significant percentage of total revenue.
- Ongoing Profitability Challenges and Underperforming Segments: Despite recent efforts to improve profitability through restructuring and cost-cutting, Zedge has historically faced and continues to contend with profitability challenges. The company has reported GAAP net losses, partly due to non-cash impairment charges related to certain assets like Emojipedia. Additionally, the GuruShots game segment has consistently underperformed, continuing to incur operational losses and acting as a drag on overall financial performance. While new initiatives like DataSeeds.AI show promise, their revenue generation is currently described as "lumpy."
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The continuous integration and enhancement of mobile operating system personalization features by Apple (iOS) and Google (Android) directly threatens Zedge's core offerings. These OS updates increasingly provide native options for wallpapers, widgets, and app icon theming (e.g., Android's Material You dynamic theming and iOS's expanded Lock Screen customization), reducing the need for third-party applications like Zedge.
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Here are the expected drivers of future revenue growth for Zedge (ZDGE) over the next 2-3 years:
- Continued Growth in Subscription Revenue: Zedge has demonstrated strong performance in its subscription offerings, with Zedge Plus subscription revenue increasing significantly year-over-year. The active subscriber base has consistently grown, reaching approximately 1.2 million subscribers in Q2 fiscal year 2026, representing a 49% increase from the prior year. The company continues to optimize its subscription plans, contributing to this growth in recurring revenue.
- Product Innovation and AI Integration: Zedge is actively investing in product innovation, with plans to introduce at least six new "Alpha" products in fiscal year 2026. This includes the global rollout of "pAInt," its generative AI wallpaper maker, and new features aimed at enhancing user engagement, such as alarm functionalities to encourage daily usage. This focus on AI-driven content creation and new features is expected to attract and retain users, thereby driving revenue.
- Expansion and Scaling of New Platforms and B2B Offerings: The company is focused on expanding its "tapedeck" platform to Android, web, and international markets. Additionally, Zedge is scaling its B2B marketplace, DataSeeds.AI, and anticipates an increased contribution from this segment in fiscal year 2026, having already secured its first significant agreement. These expansions into new platforms and business models are projected to diversify and grow its revenue streams.
- Enhanced Monetization within the Core Zedge Marketplace: The Zedge Marketplace continues to be a key revenue contributor, showing mid-single-digit growth in Q4 fiscal year 2025 and strong growth in Q2 fiscal year 2026. This growth is coupled with an increase in advertising revenue, which was up 18.3% in Q2 fiscal year 2026. Improvements in Average Revenue Per Monthly Active User (ARPMAU) also indicate a shift towards higher-value users and improved monetization efficiency within its existing user base.
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Share Repurchases
- Zedge completed a $3.0 million share repurchase program on August 28, 2024, buying back 1.2 million shares of its Class B common stock.
- The company approved a new $5.0 million share repurchase program on September 16, 2024.
- As of January 31, 2026, Zedge had repurchased approximately $4 million of Class B shares as part of its $5 million authorization.
Share Issuance
- As of October 28, 2024, Zedge had 524,775 shares of Class A common stock and 13,618,761 shares of Class B common stock outstanding.
- The number of shares outstanding decreased by -4.60% in one year, primarily due to share repurchases.
Outbound Investments
- In April 2022, Zedge acquired GuruShots, a skill-based photo challenge game.
- In August 2021, Zedge acquired Emojipedia, a trusted source for emoji information.
Capital Expenditures
- In Q1 2026, Zedge invested $17K in capital expenditures.
- Over the last 12 months, capital expenditures amounted to -$89,000.
- The primary focus of capital expenditures is on capitalized software and technology development costs for internal-use software related to the Zedge Marketplace.
Peer Outperformance in Interactive Media & Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -17.7% | 14.2% | 45.5% | ECHO 292% · TMUS 45% |
| Publishing | 5 | 24.2% | 8.3% | 16.5% | NYT 32% · NWSA 32% |
| Integrated Telecommunication Services | 21 | -12.4% | -5.2% | -28.9% | GSAT 229% · AD 132% · TDS 114% |
| Movies & Entertainment | 23 | 10.6% | 42.4% | -31.3% | IMAX 153% · CNK 91% · BATRA 81% |
| Alternative Carriers | 4 | -33.6% | 11.2% | -68.0% | IRDM 13% · LUMN -57% |
| Interactive Home Entertainment | 8 | -43.6% | -34.4% | -69.0% | TTWO 4% · RBLX -46% · PINS -54% |
| Advertising | 18 | -28.6% | -8.0% | -70.3% | APP 132% · OMC 48% · STGW 24% |
| Interactive Media & Services ← | 32 | -38.2% | -32.6% | -71.6% | GOOGL 94% · META 87% · CARG -2% |
| Broadcasting | 14 | -5.7% | -27.3% | -71.9% | FOXA 61% · NXST 31% · SIRI -48% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Zedge Earnings Notes | 12/16/2025 | |
| Is Zedge Stock Built to Withstand a Pullback? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 17.66 |
| Mkt Cap | 7.1 |
| Rev LTM | 1,631 |
| Op Inc LTM | 30 |
| FCF LTM | 118 |
| FCF 3Y Avg | 111 |
| CFO LTM | 205 |
| CFO 3Y Avg | 217 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.6% |
| Rev Chg 3Y Avg | 9.7% |
| Rev Chg Q | 11.5% |
| QoQ Delta Rev Chg LTM | 2.8% |
| Op Inc Chg LTM | 121.9% |
| Op Inc Chg 3Y Avg | 33.4% |
| Op Mgn LTM | 8.5% |
| Op Mgn 3Y Avg | 2.1% |
| QoQ Delta Op Mgn LTM | 1.2% |
| CFO/Rev LTM | 14.1% |
| CFO/Rev 3Y Avg | 15.6% |
| FCF/Rev LTM | 6.0% |
| FCF/Rev 3Y Avg | 10.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Zedge Marketplace | 27 | 27 | 23 | 25 | |
| GuruShots | 2 | 3 | 5 | 2 | |
| Advertising revenue | 16 | ||||
| Other revenues | 0 | ||||
| Paid subscription revenue | 3 | ||||
| Zedge Premium revenue | 1 | ||||
| Total | 29 | 30 | 27 | 27 | 20 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Zedge Marketplace | 2 | 6 | 6 | 10 |
| GuruShots | -6 | -17 | -13 | 2 |
| Total | -3 | -12 | -7 | 12 |
Price Behavior
| Market Price | $2.22 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 05/26/2016 | |
| Distance from 52W High | -46.3% | |
| 50 Days | 200 Days | |
| DMA Price | $2.89 | $3.02 |
| DMA Trend | down | down |
| Distance from DMA | -23.2% | -26.5% |
| 3M | 1YR | |
| Volatility | 42.0% | 69.8% |
| Downside Capture | 158.24 | 132.91 |
| Upside Capture | -13.30 | 104.97 |
| Correlation (S&P 500) | 15.7% | 13.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.43 | 0.96 | 0.58 | -0.04 | 0.73 | 0.97 |
| Up Beta | -4.99 | 0.03 | 0.37 | -1.57 | 0.03 | 0.54 |
| Down Beta | 1.22 | 0.78 | 1.08 | 0.09 | -0.04 | 1.05 |
| Up Capture | 7% | 25% | -7% | -14% | 115% | 126% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 9 | 18 | 27 | 53 | 113 | 352 |
| Down Capture | 290% | 209% | 128% | 84% | 120% | 106% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 10 | 21 | 31 | 66 | 123 | 367 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZDGE | |
|---|---|---|---|---|
| ZDGE | -9.6% | 69.8% | 0.14 | - |
| Sector ETF (XLC) | -11.5% | 16.3% | -0.94 | 12.4% |
| Equity (SPY) | 11.6% | 12.8% | 0.57 | 13.7% |
| Gold (GLD) | -2.3% | 28.6% | -0.09 | -2.9% |
| Commodities (DBC) | 43.1% | 20.9% | 1.60 | -3.9% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.50 | 3.1% |
| Bitcoin (BTCUSD) | -28.8% | 43.6% | -0.66 | 5.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZDGE | |
|---|---|---|---|---|
| ZDGE | -30.1% | 77.9% | -0.12 | - |
| Sector ETF (XLC) | 5.5% | 21.0% | 0.18 | 24.3% |
| Equity (SPY) | 12.0% | 17.1% | 0.52 | 23.3% |
| Gold (GLD) | 16.5% | 19.0% | 0.69 | -1.8% |
| Commodities (DBC) | 8.4% | 19.6% | 0.31 | 1.9% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 18.2% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZDGE | |
|---|---|---|---|---|
| ZDGE | -3.4% | 87.2% | 0.35 | - |
| Sector ETF (XLC) | 8.1% | 22.1% | 0.40 | 24.3% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 23.0% |
| Gold (GLD) | 11.6% | 16.5% | 0.57 | 1.9% |
| Commodities (DBC) | 7.8% | 18.1% | 0.34 | 5.4% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 17.5% |
| Bitcoin (BTCUSD) | 61.7% | 66.3% | 1.01 | 10.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/26/2026 | -7.2% | -19.6% | |
| 6/11/2026 | 25.7% | -9.7% | -7.8% |
| 3/12/2026 | -14.5% | -8.0% | -3.5% |
| 12/12/2025 | 14.4% | 25.1% | 52.7% |
| 6/12/2025 | -0.7% | 42.5% | 55.4% |
| 3/12/2025 | -1.9% | 5.1% | -14.0% |
| 12/16/2024 | -15.7% | -13.6% | 1.8% |
| 10/29/2024 | -4.9% | -10.8% | -13.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 7 | 10 |
| # Negative | 14 | 15 | 11 |
| Median Positive | 7.0% | 25.1% | 15.7% |
| Median Negative | -7.5% | -10.8% | -13.4% |
| Max Positive | 25.7% | 42.5% | 55.4% |
| Max Negative | -21.5% | -28.8% | -45.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/26/2026 | -7.2% | -19.6% | |
| 6/11/2026 | 25.7% | -9.7% | -7.8% |
| 3/12/2026 | -14.5% | -8.0% | -3.5% |
| 12/12/2025 | 14.4% | 25.1% | 52.7% |
| 6/12/2025 | -0.7% | 42.5% | 55.4% |
| 3/12/2025 | -1.9% | 5.1% | -14.0% |
| 12/16/2024 | -15.7% | -13.6% | 1.8% |
| 10/29/2024 | -4.9% | -10.8% | -13.4% |
| 6/10/2024 | 12.6% | -11.0% | 21.6% |
| 3/15/2024 | -18.8% | -20.5% | -29.9% |
| 12/13/2023 | 3.2% | 1.4% | 3.7% |
| 10/26/2023 | -7.7% | -1.5% | -6.2% |
| 6/12/2023 | -4.9% | -4.9% | 2.2% |
| 3/15/2023 | -14.2% | -28.8% | -21.2% |
| 12/13/2022 | -6.9% | -19.9% | 2.6% |
| 6/13/2022 | -21.5% | -26.7% | -45.8% |
| 3/15/2022 | 1.5% | -1.0% | -4.2% |
| 12/13/2021 | 3.3% | 2.0% | -1.2% |
| 10/27/2021 | -9.1% | -9.3% | -27.1% |
| 6/10/2021 | -0.8% | 26.5% | 20.1% |
| 3/15/2021 | 10.7% | 38.2% | 26.1% |
| 12/10/2020 | 1.1% | -0.4% | 11.3% |
| SUMMARY STATS | |||
| # Positive | 8 | 7 | 10 |
| # Negative | 14 | 15 | 11 |
| Median Positive | 7.0% | 25.1% | 15.7% |
| Median Negative | -7.5% | -10.8% | -13.4% |
| Max Positive | 25.7% | 42.5% | 55.4% |
| Max Negative | -21.5% | -28.8% | -45.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 07/31/2026 | 10/28/2026 | 10-K |
| 04/30/2026 | 06/12/2026 | 10-Q |
| 01/31/2026 | 03/16/2026 | 10-Q |
| 10/31/2025 | 12/12/2025 | 10-Q |
| 07/31/2025 | 10/28/2025 | 10-K |
| 04/30/2025 | 06/13/2025 | 10-Q |
| 01/31/2025 | 03/14/2025 | 10-Q |
| 10/31/2024 | 12/16/2024 | 10-Q |
| 07/31/2024 | 10/29/2024 | 10-K |
| 04/30/2024 | 06/11/2024 | 10-Q |
| 01/31/2024 | 03/15/2024 | 10-Q |
| 10/31/2023 | 12/14/2023 | 10-Q |
| 07/31/2023 | 10/30/2023 | 10-K |
| 04/30/2023 | 06/14/2023 | 10-Q |
| 01/31/2023 | 03/17/2023 | 10-Q |
| 10/31/2022 | 12/15/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 07/31/2026 | 10/28/2026 | 10-K |
| 04/30/2026 | 06/12/2026 | 10-Q |
| 01/31/2026 | 03/16/2026 | 10-Q |
| 10/31/2025 | 12/12/2025 | 10-Q |
| 07/31/2025 | 10/28/2025 | 10-K |
| 04/30/2025 | 06/13/2025 | 10-Q |
| 01/31/2025 | 03/14/2025 | 10-Q |
| 10/31/2024 | 12/16/2024 | 10-Q |
| 07/31/2024 | 10/29/2024 | 10-K |
| 04/30/2024 | 06/11/2024 | 10-Q |
| 01/31/2024 | 03/15/2024 | 10-Q |
| 10/31/2023 | 12/14/2023 | 10-Q |
| 07/31/2023 | 10/30/2023 | 10-K |
| 04/30/2023 | 06/14/2023 | 10-Q |
| 01/31/2023 | 03/17/2023 | 10-Q |
| 10/31/2022 | 12/15/2022 | 10-Q |
| 07/31/2022 | 11/14/2022 | 10-K |
| 04/30/2022 | 06/14/2022 | 10-Q |
| 01/31/2022 | 03/16/2022 | 10-Q |
| 10/31/2021 | 12/14/2021 | 10-Q |
| 07/31/2021 | 11/09/2021 | 10-K |
| 04/30/2021 | 06/14/2021 | 10-Q |
| 01/31/2021 | 03/16/2021 | 10-Q |
| 10/31/2020 | 12/14/2020 | 10-Q |
| 07/31/2020 | 10/28/2020 | 10-K |
| 04/30/2020 | 06/12/2020 | 10-Q |
| 01/31/2020 | 03/13/2020 | 10-Q |
| 10/31/2019 | 12/13/2019 | 10-Q |
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Interactive Media & Services Resources |
| Social Media Today |
| Search Engine Land |
| Nieman Journalism Lab |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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