Zedge, Inc. - ZDGE STOCK NEWS

Zedge, Inc. (NYSE AMERICAN:ZDGE) has released new data showing a strong consumer preference for AI-generated content in its marketplace. Contrary to recent findings, Zedge's users are increasingly drawn to AI-created art over human-made images. Since August 2022, the Zedge Marketplace has seen a 673% increase in image uploads, highlighting growing interest in AI-generated content.

Experiments conducted by Zedge revealed that AI-generated collections consistently outperformed human-made counterparts in clicks and downloads. In the initial experiment, AI-generated art saw 73% more clicks and 338% more downloads compared to human-made collections. These results challenge the notion that consumers are skeptical of AI-generated content and suggest a promising future for AI in mobile phone personalization.

Zedge and Emojipedia have launched the 'Emoji Playground' to celebrate World Emoji Day. This new feature offers over 10 million monthly users the ability to create emoji mashups and participate in emoji quiz experiences. The playground includes the Emoji Mashup Bot generator, originally created by Louan Bengmah in 2019, and quiz-like games exploring emoji culture.

Additionally, Zedge announced a partnership with Semrush Academy to create the world's first Emoji Marketing Mini-Course. This course aims to help marketers effectively use emojis in their campaigns, bridging cultural and generational gaps. Zedge plans to introduce more features to the Emoji Playground in the coming months, leveraging generative AI technology to enhance user creativity.

Zedge (NYSE American: ZDGE) announced its third-quarter fiscal 2024 results with a 14% total revenue growth and a 35% increase in subscription revenue compared to the previous year. The company reported a revenue of $7.7 million, a GAAP net income of $0.1 million, and a non-GAAP net income of $0.5 million. Key metrics included a 44.4% increase in Zedge Premium Gross Transaction Value (GTV) to $0.59 million and a 39.7% rise in average revenue per monthly active user (ARPMAU). The quarter also saw a GAAP operating loss of $0.1 million, an improved figure compared to a loss of $8.4 million in the same period last year. However, the company faced challenges with a 20.3% decline in digital goods and services revenue and a 13.4% drop in monthly active users (MAU).

CEO Jonathan Reich highlighted ongoing efforts to optimize advertising and subscription revenue, especially on iOS platforms, and emphasized future plans for user acquisition and product innovation. Despite some setbacks, the company remains optimistic about its growth trajectory heading into fiscal 2025.

Zedge (NYSE American: ZDGE) will announce its third fiscal quarter 2024 results on June 10, 2024, after market close. The period ended on April 30, 2024. The earnings release will be available on Form 8-K and on Zedge's investor relations website at around 4:10 p.m. Eastern. An earnings call hosted by management will commence at 4:30 p.m. Eastern to discuss the results, outlook, and strategy, followed by a Q&A session. Zedge operates digital marketplaces and competitive games, including Zedge Ringtones and Wallpapers, GuruShots, and Emojipedia, serving tens of millions of active users monthly.

Zedge (NYSE AMERICAN: ZDGE), a company specializing in digital marketplaces and competitive games, announced its selection to the Russell Microcap Index, effective July 1, 2024. This announcement follows the 2024 Russell U.S. Indexes annual reconstitution. According to CEO Jonathan Reich, Zedge has recently returned to revenue growth, maintains positive cash flow, has $18.1 million in cash with no debt, and is actively repurchasing shares. The addition to the index is expected to increase investor awareness of Zedge's growth potential in generative AI and gaming. The Russell U.S. Indexes represent $10.5 trillion in assets, with the annual reconstitution ensuring accurate market representation.