Zedge Inc (NYSE American: ZDGE) is a mobile content and digital media company that operates the Zedge App, a marketplace for smartphone personalization content including wallpapers and ringtones, alongside Emojipedia, an emoji reference platform, and GuruShots, a gamified photography competition platform. Revenue comes from advertising, subscription fees, and in-app digital goods sales across these three properties. As of July 31, 2025, the Zedge App had 23.3 million monthly active users (MAU), with 76.7% in emerging markets and 23.3% in well-developed markets. The company acquired Emojipedia in August 2021 and GuruShots in April 2022. Zedge carried $18.6 million in cash and cash equivalents as of July 31, 2025, and maintains a $4 million revolving credit facility. In early 2025, the company executed restructuring initiatives targeting annualized cost savings of $3.9 million to $4.1 million. GuruShots generated an operating loss of $5.6 million in fiscal 2025, down 68.1% from $17.5 million in fiscal 2024, which included an $11.9 million intangible asset impairment charge.

Revenue model

Zedge generates revenue through three streams: advertising sold against its MAU base on the Zedge App and Emojipedia, subscription fees for premium tiers on the Zedge App, and transactional sales of digital goods on GuruShots (resources that boost photo visibility in competitions). Users in well-developed markets monetize at a material premium to emerging market users.

Products and services

Zedge App: a smartphone personalization marketplace available in 14 languages on Android, offering wallpapers, ringtones, and AI-generated content via its pAInt generative AI suite introduced in December 2022. Emojipedia: an emoji reference platform available in 19 languages. GuruShots: a gamified photography competition platform on iOS, Android, and web, hosting more than 300 monthly competitions with over 3 billion perceived votes cast per month as of the filing date.

Customers and end markets

End users are smartphone owners globally, skewing toward emerging markets (76.7% of Zedge App MAU as of July 31, 2025). Advertiser customers target this user base for mobile advertising. GuruShots serves amateur photographers seeking competitive recognition. Emojipedia serves general internet users and faces rising traffic competition from AI platforms including ChatGPT and Claude.

Value-chain role

Zedge operates as a content marketplace and media platform sitting between independent content creators and end consumers, while also selling direct digital goods. It aggregates user-generated and third-party content, monetizes the resulting audience through advertising and subscriptions, and sells virtual goods transactionally on GuruShots.

Geographic exposure

Global, with the Zedge App available in 14 languages and Emojipedia in 19 languages as of the fiscal year ended July 31, 2025. Approximately 76.7% of Zedge App MAU are in emerging markets and 23.3% in well-developed markets. GuruShots is headquartered in Israel.

Source: SEC 10-K, filed 2025-10-28

Industry: Services-Prepackaged Software Peers: Alphabet Inc Mobivity Holdings Corp Bubblr Inc IZEA Worldwide Inc Leafly Holdings, Inc. /DE Super League Enterprise Inc Quality Industrial Corp Society Pass Inc