Content distribution platform Zedge, Inc. (NYSE American: ZDGE) has reported a modest increase in revenues for the first quarter of 2024. The company’s comprehensive loss narrowed in Q1.
Total revenues moved up 3% year-over-year to $7.1 million in the October quarter. At the end of the quarter, Zedge had around 28.5 million monthly active users.
The company reported a comprehensive loss of $0.38 million for the first quarter, compared to a loss of $0.43 million last year. On a per-share basis, it was breakeven in Q1, vs. a loss of $0.01 in the prior-year period.
“We have completed the global rollout of pAInt, our generative AI wallpaper maker, and launched pAInt’s print-on-demand feature immediately before Thanksgiving. Additionally, we benefited from redesigning Emojipedia’s website, as its enhanced site performance yielded much faster load times and continued optimization of the advertising experience,” said Jonathan Reich, chief executive officer of Zedge.