Zedge Inc. (Class B) (ZDGE) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, ZDGE scores 35 out of 100, grade D-, with the verdict "Roarable Sell — Vulnerable Balance Sheet & Flow." Across the five pillars: Fundamental Cash Engine 8/20 (ROIC -35%; FCF yield 8.6%); Whale 13F Flow 3/20 (institutional accumulation and options positioning); Insider Conviction 9/20 (SEC Form 4 and Congressional PTR cluster flow); Macro Regime Fit 8/20 (Beta 1.0; sector sensitivity); Forensic Balance Sheet 7/20 (Altman Z 2.76; Piotroski F 6/9; Debt/Equity 0.5). The weakest pillar is institutional flow, which the rating places at 3 of 20, meaning the data does not show meaningful institutional support. The strongest pillars, insider conviction and the cash/balance-sheet metrics, are still scored well below half their maximums. For a prospective investor, the rating's main implication is that the stock's upside case depends on operating improvement the source data does not yet show: a negative ROIC and negative operating and net margins sit alongside a positive free cash flow yield, so cash generation and accounting profitability are diverging. Valuation tradeoffs are hard to assess because P/E, forward P/E, and EV/EBITDA are unavailable. Investors weighing this name would need to reconcile a low market capitalization and a positive FCF yield against persistent operating losses and weak flow signals.

Zedge Inc. (Class B) (ZDGE) is a NYSE-listed issuer in the Technology sector, operating in the Computer Software: Prepackaged Software industry. Per the company profile, its market capitalization is $0.0B on the profile summary, which conflicts with the $38.8M figure in market data. Not available in source data: a description of specific products, customers, or revenue model.

Per the SEC financials, revenue moved from $27.2M (FY 2023) to $30.1M (FY 2024) and then $29.4M (FY 2025), while operating losses narrowed from $-11.8M to $-3.2M over the latest two years. Per the market data, gross margin is 96%, operating margin -11%, net margin -8.1%, and ROIC -35%. Per the Roarable RQD rating, the Altman Z-Score is 2.76, the Piotroski F-Score is 6/9, and Debt/Equity is 0.5. Free cash flow remained positive in each reported year, while cash declined from $20.1M to $19.1M.

• Market wire (YELLOW): Yahoo! Finance Canada, Moomoo, TradingView, Benzinga, and Stock Titan items report general market action, institutional positioning, and catalysts; these are generic coverage notices without specific content in the source.
• Risk watch (RED): Yahoo Finance headline "Zedge (ZDGE) Stock Fair Value Falls As Margin View Weakens On Traffic Risks" flags weakening margin outlook and traffic risks.
• Dividend: TradingView item reports a quarterly dividend declaration; per the market data, the dividend yield is listed as 0%.
• Earnings call: Stock Titan notes a results call at 4:30 p.m. Eastern on Oct. 26 where Zedge will discuss its outlook; Benzinga lists a Q4 2026 earnings call transcript.
• Proprietary signals: None. Per the Butterfly Supply-Chain Graph, the supply chain is NONE with no links.

• What is the source of the discrepancy between the $0.0B market capitalization in the profile and the $38.8M figure in market data?
• Why does FCF remain positive while operating and net income are negative, and which items explain the gap?
• What are the EPS, debt, and cash figures for FY 2023 and FY 2025, which are listed as N/A or not reported?
• What specific traffic and margin risks does the RED-flagged news item reference?
• What do the Q4 results and outlook discussed on the Oct. 26 call show, and are they reflected in the data?