Zedge, Inc.
ZDGE Communication Services Internet Content & Information
Zedge, Inc.’s revenue for fiscal 2025 (year ended July 2025) was $29.4 million, down 2.30% from fiscal 2024. In the quarter to April 2026, revenue grew 3.03%, EPS grew 418.5% and free cash flow grew 54.9%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Zedge, Inc. (ZDGE) Altman Z-score
Zedge, Inc.'s Altman Z-score for fiscal 2025 is 3.81, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 3.81 | (0.23) |
| FY2024 | 4.04 | 1.43 |
| FY2023 | 2.61 | (1.14) |
| FY2022 | 3.75 | (25.98) |
| FY2021 | 29.73 | 27.53 |
| FY2020 | 2.20 | (0.27) |
| FY2019 | 2.47 | (7.23) |
| FY2018 | 9.70 | 3.58 |
| FY2017 | 6.12 | (5.93) |
| FY2016 | 12.04 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.41 | — | 0.49 | |
| Retained earnings / total assets | (0.43) | — | −0.61 | |
| EBIT / total assets | (0.09) | — | −0.30 | |
| Market value of equity / total liabilities | 5.66 | — | 3.40 | |
| Sales / total assets | 0.82 | — | 0.82 | |
| Altman Z-score | Safe zone | 3.81 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.46 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| IZEA IZEA WORLDWIDE, INC. compare | 4.2× |
| ZDGE Zedge, Inc. | 3.8× |
| TZOO Travelzoo compare | 3.5× |
| SJ Scienjoy Holding Corporation compare | 3.1× |
| GETY Getty Images Holdings, Inc. compare | −0.2× |
| TEAD Teads Holding Co. compare | −0.7× |
| PAAI Paradigm AI, Inc. compare | −0.8× |
| SEAT Vivid Seats Inc. compare | −6.3× |
| LVO LiveOne, Inc. compare | −7.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets