Zedge Inc
zedge.netWhat Do They Do?
Offers phone users mobile personalization content and sells advertising inventory to advertising networks and exchanges. Also runs a photo-challenge game for amateur photographers.
10-K for FY2025, filed Oct 28, 2025Zedge builds digital marketplaces and friendly competitive games around content that people use to express themselves. Our leading products…View ↗
Our Zedge App (which is named “Zedge Wallpapers” in the App Store) offers a wide array of mobile personalization content including…View ↗
We generate revenue from the following sources: (1) Advertising; (2) Paid Subscription; (3) Other revenues including primarily Zedge…View ↗
In April 2022, we acquired GuruShots Ltd (“GuruShots”), a gamified photography platform that engages a global community of photographers…View ↗
How Do They Make Money?
Advertising networks and exchanges pay for ads delivered in the Zedge Marketplace; users prepay for ad-free subscriptions and purchase premium content, of which Zedge receives a share. GuruShots players buy virtual goods and in-game resources.
10-K for FY2025, filed Oct 28, 2025We generate revenue from the following sources: (1) Advertising; (2) Paid Subscription; (3) Other revenues including primarily Zedge…View ↗
We recognize advertising revenue as advertisements are delivered to users through impressions or ad views (depending on the terms agreed…View ↗
Paid Subscription Revenue: Beginning in January 2019 and April 2023, we started offering paid subscription services sold through Google…View ↗
Zedge Premium: Zedge Premium is our marketplace where artists and brands can market, distribute and sell their digital content to our…View ↗
Digital Goods and Services: GuruShots generates the substantial majority of its revenues by selling virtual goods (e.g. power-ups and…View ↗
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10-K for FY2025, filed Oct 28, 2025
FY2025 revenue by reportable segment ↗
$29.4M
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10-K for FY2025, filed Oct 28, 2025
$29.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Zedge Marketplace revenue
Mix
10-K for FY2025, filed Oct 28, 2025 |
93%
FY2022: 94%
|
Zedge Marketplace revenue, FY2025
$27.2M Sources
|
Mix |
|
GuruShots
Sold outright
10-K for FY2025, filed Oct 28, 2025 |
7.4%
FY2022: 6.3%
|
GuruShots, FY2025
$2.2M Sources
|
Sold outright |
Who Are Their Customers?
Phone users get Zedge content through its app, while GuruShots players use apps or the web. Advertisers buy Zedge inventory through ad networks and exchanges; DataSeeds serves enterprises with custom image briefs.
10-K for FY2025, filed Oct 28, 2025Our Zedge App (which is named “Zedge Wallpapers” in the App Store) offers a wide array of mobile personalization content including…View ↗
In fiscal 2025, we began building DataSeeds.AI (“DataSeeds”), a business-to-business marketplace offering access to our rapidly growing…View ↗
In April 2022, we acquired GuruShots Ltd (“GuruShots”), a gamified photography platform that engages a global community of photographers…View ↗
Advertising Networks. An advertising network is a third-party relationship where buyers of advertising inventory go to purchase either…View ↗
Advertising Exchanges. An advertising exchange is similar to an advertising network, except that the exchange typically bids in real-time…View ↗
Digital Goods and Services: GuruShots generates the substantial majority of its revenues by selling virtual goods (e.g. power-ups and…View ↗
10-K for FY2025, filed Oct 28, 2025
We routinely assess the financial strength of our customers. As a result, we believe that our accounts receivable credit risk exposure is…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $2.4M in FY2025, but brought in more cash than it spent: $3.3M of free cash flow.
10-K for FY2025, filed Oct 28, 2025
−$3.2MView ↗
10-K for FY2025, filed Oct 28, 2025
−$2.4MView ↗
10-K for FY2025, filed Oct 28, 2025
$3.3MView ↗
How Are They Changing?
10-Q for Q3 FY2026, filed Jun 12, 2026
Open tableView ↗
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Aug 31, 2026
Morris Berger appointed CEO; Jonathan Reich moves to president and COO
Berger is set to take over as CEO, while Reich becomes president and chief operating officer.
Sources
8-K, filed Aug 31, 2026
On August 24, 2026, the Board of Directors (the “Board”) of Zedge, Inc. (the “Company”) resolved to appoint Morris Berger as Chief…View ↗
Growing. Revenue grew 50% in 4 years, from $19.6M in FY2021 to $29.4M in FY2025, about 11% a year.
A business-to-business image marketplace
The earlier plan centered on selling GuruShots players’ photos to Zedge users; the latest report describes DataSeeds licensing creator and photographer images for business use, including AI training.
10-K for FY2022, filed Nov 14, 2022 10-K for FY2025, filed Oct 28, 2025Beyond our commitment to growing both the Zedge App and GuruShots on a standalone basis, we believe that there are many potential synergies…View ↗
AI creation in the Zedge App
The earlier report described mobile personalization content; the latest also describes pAInt, which lets users create images and audio from prompts or uploaded visuals.
10-K for FY2022, filed Nov 14, 2022 10-K for FY2025, filed Oct 28, 2025The Zedge Ringtones and Wallpapers app (which is named “Zedge Wallpapers” in the App Store), which we refer to as our “Zedge App,” is a…View ↗
In fiscal 2023, we introduced pAInt, a generative AI wallpaper maker in the Zedge App. A generative AI wallpaper maker is an implementation…View ↗
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