Zedge, Inc (ZDGE) Cash Flow Statement
Where ZDGE’s cash came from and went, FY2025
July 31, 2025 · U.S. dollars- Cash from operations
- $3.4M −41.5% vs FY2024
- Capital expenditures
- $83,000 0.3% of revenue
- Free cash flow
- $3.3M 11.4% margin
- Returned to shareholders
- $4.4M 133% of free cash flow
- Change in cash
- −$1.4M cash at year-end $18.6M
Cash from operations
$3.4M
Capital expenditures
−$83,000
Acquisitions & other
−$466,000
Share buybacks (net)
−$4.4M
Other financing
+$62,000
Currency & other
+$109,000
Change in cash
−$1.4M
Drawn to scale: where the cash came from and how it was used. Hover for values.
ZDGE operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
ZDGE cash flow trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.8MFY2016 | $3.4MFY2025 | +7.1%/yr | |
| Capital expenditures | $1.0MFY2016 | $83,000FY2025 | −24.2%/yr | |
| Free cash flow | $836,000FY2016 | $3.3MFY2025 | +16.6%/yr | |
| Free cash flow margin | 7.5%FY2016 | 11.4%FY2025 | +3.8 pts | |
| Operating cash flow / net income | 1.87FY2016 | 1.18FY2022 | −0.69 | |
| Stock-based compensation | $166,000FY2016 | $2.1MFY2024 | +37.7%/yr | |
| Dividends paid | $0FY2016 | $2.0MFY2023 | — | |
| Share buybacks (net) | $0FY2016 | $4.4MFY2025 | — | |
| Capex / revenue | 9.1%FY2016 | 0.3%FY2025 | −8.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ZDGE cash flow by activity
OperatingInvestingFinancingChange in cash
ZDGE net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
ZDGE cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$2.4M | −$9.2M | −$6.1M | $9.7M | $8.2M | −$559,000 | −$3.3M | −$1.6M | −$611,000 | $983,000 |
| Depreciation & amortization | $1.1M | $2.5M | $3.3M | $2.0M | $1.3M | $1.6M | $1.4M | $1.0M | $643,000 | $605,000 |
| Stock-based compensation | — | $2.1M | $2.5M | $1.9M | $652,000 | $492,000 | $619,000 | $595,000 | $275,000 | $166,000 |
| Change in working capital | $2.7M | $905,000 | −$2.3M | $2.2M | $664,000 | $621,000 | $1.1M | −$147,000 | −$412,000 | −$167,000 |
| Other non-cash items | $2.0M | $9.5M | $5.8M | −$4.3M | −$695,000 | $0 | $253,000 | $414,000 | $8,000 | $255,000 |
| Cash from operating activities | $3.4M | $5.8M | $3.2M | $11.5M | $10.1M | $2.1M | $76,000 | $332,000 | −$97,000 | $1.8M |
| Investing activities | ||||||||||
| Capital expenditures | −$83,000 | −$1.2M | −$1.5M | −$611,000 | −$653,000 | −$759,000 | −$1.5M | −$1.7M | −$1.5M | −$1.0M |
| Investments (net) | — | −$1.2M | −$2.4M | −$18.9M | −$4.8M | −$759,000 | −$250,000 | −$1.7M | −$1.5M | −$1.0M |
| Acquisitions & other investing | −$466,000 | $1.2M | $1.5M | $611,000 | −$50,000 | $759,000 | $0 | $1.7M | $1.5M | $1.0M |
| Cash from investing activities | −$549,000 | −$1.2M | −$2.4M | −$18.9M | −$5.5M | −$759,000 | −$1.7M | −$1.7M | −$1.5M | −$1.0M |
| Financing activities | ||||||||||
| Dividends paid | — | — | −$2.0M | — | −$1.1M | −$371,000 | — | $0 | $0 | $0 |
| Share repurchases & issuance (net) | −$4.4M | −$646,000 | −$1.6M | −$232,000 | −$26,000 | −$29,000 | −$47,000 | $232,000 | $166,000 | $3.0M |
| Net borrowing (repayment) | — | −$2.0M | $2.0M | $0 | −$746,000 | −$64,000 | $77,000 | $77,000 | $77,000 | $0 |
| Shares issued | $0 | $0 | $0 | $10.0M | $15.0M | $2.2M | $0 | $0 | $0 | $0 |
| Other financing | $62,000 | $3,000 | $2.0M | −$10.0M | $1.9M | $383,000 | −$72,000 | −$77,000 | −$77,000 | $0 |
| Cash from financing activities | −$4.4M | −$2.6M | $387,000 | −$223,000 | $15.1M | $2.2M | −$42,000 | $232,000 | $166,000 | $3.0M |
| Summary | ||||||||||
| Net change in cash | −$1.4M | $1.9M | $1.0M | −$7.8M | $19.8M | $3.5M | −$1.8M | −$1.2M | −$1.4M | $3.8M |
| Cash at end of period | $18.6M | $20.0M | $18.1M | $17.1M | $24.9M | $5.1M | $1.6M | $3.4M | $4.6M | $6.0M |
| Free cash flow | $3.3M | $4.7M | $1.7M | $10.9M | $9.5M | $1.4M | −$1.4M | −$1.4M | −$1.6M | $836,000 |
| Free cash flow margin | 11.4% | 15.5% | 6.2% | 41.0% | 48.4% | 14.4% | −16.0% | −12.6% | −16.0% | 7.5% |
| Capex / revenue | 0.3% | 4.0% | 5.4% | 2.3% | 3.3% | 8.0% | 16.9% | 15.7% | 15.0% | 9.1% |
| Operating cash flow / net income | — | — | — | 1.18 | 1.23 | — | — | — | — | 1.87 |
| Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | Jul '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $926,000 | −$2.3M | $788,000 | −$559,000 | $185,000 | −$1.7M | −$339,000 | −$39,000 | $113,000 | −$9.2M | −$15,000 | $155,000 |
| Depreciation & amortization | $133,000 | $187,000 | $216,000 | $225,000 | $225,000 | $317,000 | $381,000 | $334,000 | $583,000 | $762,000 | $775,000 | $764,000 |
| Stock-based compensation | $78,000 | $275,000 | $104,000 | — | $326,000 | $603,000 | $379,000 | $468,000 | $483,000 | $683,000 | $507,000 | $562,000 |
| Change in working capital | $143,000 | −$871,000 | −$283,000 | $1.0M | $133,000 | $824,000 | $749,000 | −$216,000 | $1.2M | −$15,000 | −$58,000 | −$1.0M |
| Other non-cash items | −$59,000 | $3.6M | $0 | $3,001 | $1,000 | $643,000 | $0 | $148,000 | −$30,000 | $9.4M | $51,000 | −$25,001 |
| Cash from operating activities | $1.2M | $858,000 | $825,000 | $674,000 | $870,000 | $708,000 | $1.2M | $695,000 | $2.3M | $1.6M | $1.3M | $419,000 |
| Investing activities | ||||||||||||
| Capital expenditures | −$6,000 | −$72,000 | −$185,000 | −$295,000 | −$19,000 | −$19,000 | −$157,000 | −$166,000 | −$228,000 | −$355,000 | −$445,000 | −$293,000 |
| Investments (net) | — | — | — | — | −$112,000 | −$109,000 | −$157,000 | −$166,000 | −$228,000 | −$355,000 | −$445,000 | −$293,000 |
| Acquisitions & other investing | −$41,000 | $0 | $0 | $124,000 | $19,000 | $19,000 | $157,000 | $166,000 | $228,000 | $355,000 | $445,000 | $293,000 |
| Cash from investing activities | −$47,000 | −$72,000 | −$185,000 | −$171,000 | −$112,000 | −$109,000 | −$157,000 | −$166,000 | −$228,000 | −$355,000 | −$445,000 | −$293,000 |
| Financing activities | ||||||||||||
| Dividends paid | −$469,000 | −$208,000 | −$208,000 | — | $0 | — | — | — | — | — | — | — |
| Share repurchases & issuance (net) | −$253,000 | −$87,000 | −$789,000 | −$2.4M | −$536,000 | −$690,000 | −$804,000 | −$481,000 | −$152,000 | $0 | −$13,000 | −$142,000 |
| Net borrowing (repayment) | — | — | — | — | $0 | — | — | $0 | $0 | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $84,000 | $45,000 | $208,000 | $62,000 | $0 | $0 | $0 | $0 | $0 | −$2.0M | $3,000 | $1,000 |
| Cash from financing activities | −$638,000 | −$250,000 | −$789,000 | −$2.3M | −$536,000 | −$690,000 | −$804,000 | −$481,000 | −$152,000 | −$2.0M | −$10,000 | −$141,000 |
| Summary | ||||||||||||
| Net change in cash | $586,000 | $610,000 | −$113,000 | −$1.8M | $379,000 | −$142,000 | $198,000 | $73,000 | $1.9M | −$681,000 | $620,000 | $58,000 |
| Cash at end of period | $19.7M | $19.1M | $18.5M | $18.6M | $20.4M | $20.1M | $20.2M | $20.0M | $19.9M | $18.1M | $18.7M | $18.1M |
| Free cash flow | $1.2M | $786,000 | $640,000 | $969,000 | $851,000 | $689,000 | $1.0M | $529,000 | $2.1M | $1.2M | $815,000 | $126,000 |
| Free cash flow margin | 15.2% | 9.5% | 8.4% | 13.0% | 11.0% | 9.9% | 14.1% | 7.0% | 27.6% | 15.4% | 11.5% | 1.9% |
| Capex / revenue | 0.1% | 0.9% | 2.4% | 4.0% | 0.2% | 0.3% | 2.2% | 2.2% | 3.0% | 4.6% | 6.3% | 4.4% |
| Operating cash flow / net income | 1.32 | — | 1.05 | — | 4.70 | — | — | — | 20.73 | — | — | 2.70 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
ZDGE cash generation
In fiscal 2025 (ended July 31, 2025), Zedge generated $3.4 million of cash from operations (down 41.5%) and spent $0.1 million on capital expenditures, leaving free cash flow of $3.3 million, 11.4% of revenue. It returned $4.4 million to shareholders through dividends ($0) and net share buybacks ($4.4 million). Cash and equivalents fell by $1.4 million over the year.
Related: ZDGE income statement, ZDGE balance sheet, ZDGE dividend history. See the ZDGE stock overview for the latest quote and news.
ZDGE cash flow FAQ
What is Zedge's free cash flow?
Zedge's free cash flow was $3.3 million in fiscal 2025: $3.4 million of operating cash flow minus $0.1 million of capital expenditures It was $4.7 million a year earlier..
How much cash does Zedge generate from operations?
Zedge generated $3.4 million of cash from operating activities in fiscal 2025.
How much does Zedge spend on capital expenditures?
Zedge spent $0.1 million on capital expenditures in fiscal 2025, 0.3% of revenue, compared with $1.2 million the year before.
How much stock does Zedge buy back?
Zedge spent $4.4 million on net share repurchases in fiscal 2025.