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Gregory Suess, a director at Zedge, Inc. (AMEX:ZDGE), recently acquired 2,175 shares of the company’s Class B Common Stock. The shares were purchased at a price of $2.2921 per share, amounting to a total transaction value of approximately $4,985. The purchase comes as InvestingPro data shows the stock trading at $2.36, with management actively buying back shares and maintaining impressive gross margins of 94%. Following this acquisition, Suess holds a total of 60,256 shares, which includes 48,073 fully vested shares of Restricted Stock and 12,183 shares held directly. This transaction was executed on March 21, 2025, as per the recent SEC filing. According to InvestingPro analysis, Zedge appears undervalued, with strong financial health indicators including more cash than debt and a healthy current ratio of 3.35. For deeper insights into Zedge’s valuation and 12 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Zedge Inc. reported disappointing financial results for its fiscal first quarter of 2025, missing both earnings and revenue forecasts. The company posted an EPS of -$0.01 against a forecast of $0.06, and revenue of $7 million, falling short of the expected $8.3 million. This significant miss was accompanied by a 10% year-over-year decline in total revenue, despite a 13% increase in subscription revenue and a 22% growth in net active subscribers. Additionally, Zedge announced a restructuring plan, reducing its global workforce by 22% to improve operational efficiency and profitability. The company expects these efforts to yield annualized cost savings of approximately $4 million, impacting financials starting in the third quarter. In other developments, Zedge plans to launch new AI-driven features, including an AI audio creator, in the coming quarters. The company remains cautiously optimistic about recovering ad revenue as market conditions improve. Analysts from Maxim Group noted the challenges posed by the macroeconomic environment and the temporary withdrawal of TikTok, which affected ad revenue and user acquisition.
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