Q3 2024 Zedge Inc Earnings Call Transcript
Key Points
- Q3 revenue increased by 14% year-over-year, driven by strong performance in the Zedge Marketplace.
- Ad revenue grew by 20% from last year, and Zedge+ subscription revenue increased by 35%.
- Zedge Premium's gross transaction value (GTV) rose by 44%, indicating successful content and monetization improvements.
- The company achieved a record average revenue per monthly active user (ARPMAU) of $0.074, up 39% year-over-year.
- Significant progress in building a full-stack marketing team, which is expected to drive future growth.
- Monthly active users (MAU) decreased to 27.7 million in April, indicating a decline in user engagement.
- GuruShots' revenue fell by 20% year-over-year, impacted by Apple's ATT framework, macroeconomic issues, and geopolitical unrest.
- SG&A expenses increased by 35% to $6.8 million, driven by higher marketing costs.
- Adjusted EBITDA decreased to $0.9 million from $1.7 million in the prior year.
- Emojipedia underperformed due to issues with a website redesign, which did not yield the expected outcomes.
Good afternoon. Welcome to Zedgeâs Earnings Conference Call for the Third Fiscal Quarter 2024 Results. During management's prepared remarks, all participants will be in listen-only mode. (Operator Instructions) After today's presentation by Zedgeâs management, there will be an opportunity to ask questions (Operator Instructions) I will now turn the call over to Brian Siegel.
Thank you, operator. In todayâs presentation, Jonathan Reich, Zedgeâs Chief Executive Officer, and Yi Tsai, Zedgeâs Chief Financial Officer, will discuss Zedgeâs financial and operational results that were reported today.
Any forward-looking statements made during this conference call during the prepared remarks or in the question-and-answer session, whether general or specific in nature, are subject to risks and uncertainties that may cause actual results in the future to differ materially from those discussed on todayâs call. These risks and uncertainties include, but are not limited to, specific risks and uncertainties disclosed in the reports that
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