Return to Revenue Growth
Q3 marked a return to revenue growth for Zedge, Inc., with total revenue up 1.3% year-over-year to $7.8 million.
Significant Increase in Adjusted EBITDA
Adjusted EBITDA increased by 46% year-over-year to $1.2 million.
Zedge Plus Subscriber Growth
Zedge Plus subscriber base grew to an all-time high of nearly 900,000, a 37% year-over-year increase.
Deferred Revenue Growth
Deferred revenue reached $5 million, up 83% year-over-year and 13% sequentially.
Zedge Premium Revenue Surge
Zedge Premium revenue more than doubled, driven by expanding the offering to web users and increased usage of new features.
Strong Cash Position
The company ended the quarter with $20.4 million in cash and no debt, even after repurchasing 219,000 shares.
New AI Initiatives
Launch of Dataseeds.ai, a B2B content marketplace, and the upcoming rollout of an AI audio generator as part of the Paint suite.