The following is a summary of the Zedge, Inc. (ZDGE) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Zedge reported an 11% increase in Q2 revenue, now standing at $7.8 million.

• The company noted significant rises in ad revenue (18%) and Zedge Plus subscription revenue (24%).

• The ARPMAU saw a record boost of 37% to $0.072. The Zedge marketplace's revenue on iOS increased by 46% sequentially.

• Zedge's Q2 earnings were impacted by a one-time noncash write-off of GuruShots' intangible assets worth $11.9 million.

• GuruShots revenue decreased by 26% from last year to $0.9 million, and active users for the Zedge marketplace fell by 10.7%.

• Despite the decrease, the company reported a 23% rise in Zedge Premium Gross Transaction value and a strong liquidity position with over $18.1 million in cash and cash equivalents.

Business Progress:

• Zedge is focusing on full-stack marketing and product development, aiming to drive innovation and streamline resources for better outcomes.

• Zedge Plus is looking to become more attractive with additional value-added services.

• The company is keeping a keen focus on potential product marketing, incentive plans, and user-acquisition investments as part of its growth strategies.

• Plans are in place for greater feature integration, migrating to a coin-based economy, and improving the onboarding system to enhance the user experience.

• The company is investing in AI integration, expecting a critical role in sustainable and long-term growth.

• Despite underperformance from GuruShots, the company remains hopeful for its growth and the realization of strategic goals.

• The company is focusing on building subscription value, improving iOS monetization, and introducing new features and content for Emojipedia.

More details: Zedge IR

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