How reviewing toilet rolls on TikTok has changed Norfolk mum's life
A mother from the Norfolk Broads has gone from fears of redundancy to earning thousands of pounds by reviewing toilet roll bundles on TikTok.
Charlotte Blockley first started using TikTok Shop as a side hustle in June 2022 in the hopes of earning extra money to take her daughter on a ''dream holiday to Disney World''.
TikTok Shop is a platform on the viral trending video app where creators can promote other companies' products to generate sales and commission.
Mrs Blockley has made tens of thousands of pounds from reviewing a variety of products with her main sales coming from technology, food and drink.
The 37-year-old began to take TikTok Shop more seriously when her review of a shower head in June 2022 ''kicked off her sales massively''.
After talks of redundancy at her law property job, the mum from Stalham quit her job in January 2023 to make TikTok Shop her full-time job.
Although having no previous sales experience, the content creator was the first TikToker to receive a gold award for achieving one million sales from TikTok Shop in a 30-day period in November last year.
'My biggest earning videos were air fryers, Android tablets and toilet roll bundle deals,' she said.
Charlotte Blockley reviewing a Bluetooth speaker on TikTok (Image: charzreviews/TikTok) ''I can't put into words how much it's changed mine and my family's life.
'I still can't believe it because I am just a regular person.'
Mrs Blockley has nearly 180,000 followers on the social media platform and her videos have received more than five million likes.
Her three most recent videos, which are all filmed from her home, show reviews for swimwear, lip balm and a make up bag.
''I'm not a celebrity or a big influencer and then for it to be me that's done this is such a massive achievement,' she added.
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Monthly active users, or MAU, captures the number of unique users that used our Zedge App during the previous 30 days of the relevant period, is useful for evaluating consumer engagement with our App, which correlates to advertising revenue as more users drive more ad impressions for sale. It also allows readers and potential advertisers to evaluate the size of our user base. Zedge Premium Gross Transaction Value, or GTV, is the total dollar amount of transactions conducted through Zedge Premium. As Zedge Premium is an internal focus for growth, we believe this metric will help investors evaluate our progress in growing this part of our business. Average Revenue Per Monthly Active User for our Zedge App, or ARPMAU, is useful in evaluating how well we monetize our user base. An Active Subscription is a subscription that has commenced and not been canceled, including paused subscriptions and subscriptions in free trials, grace periods, or account hold. This is important because it is a source of recurring revenue. Total Installs - Cumulative measures the number of times the Zedge App has been downloaded since inception. 2 Throughout this release, Non-GAAP Net Income, Non-GAAP EPS, Free Cash Flow (FCF), FCF Yield and Adjusted EBITDA/Margin are non-GAAP financial measures intended to provide useful information that supplement Zedge's results in accordance with GAAP. Please refer to the Reconciliation of Non-GAAP Financial measures at the end of this release for an explanation of Zedge's formulations of Non-GAAP Net Income, Non-GAAP EPS, Free Cash Flow and Adjusted EBITDA and reconciliations to the most directly comparable GAAP measures. Earnings Announcement and Supplemental Information Management will host an earnings conference call today at 4:30 PM Eastern to discuss its earnings results, outlook, and strategy, followed by a Q&A session with investors. Live Call-in Info:Toll Free: 888-506-0062International: 973-528-0011Participant Access Code: 253956Webcast URL: Replay:Toll Free: 877-481-4010International: 919-882-2331Replay Passcode: 52502 About Zedge Zedge empowers tens of millions of consumers and creators each month with its suite of interconnected platforms that enable creativity, self-expression and e-commerce and foster community through fun competitions. Zedge's ecosystem of product offerings includes the Zedge Marketplace, a freemium marketplace offering mobile phone wallpapers, video wallpapers, ringtones, notification sounds, and pAInt, a generative AI image maker; GuruShots, "The World's Greatest Photography Game," a skill-based photo challenge game; and Emojipedia, the #1 trusted source for 'all things emoji.' For more information, visit: Follow us on X: @ZedgeFollow us on LinkedIn Forward-Looking Statements All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements. 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no shares issued and outstanding - - Class A common stock, $.01 par value; authorized shares-2,600; 525 shares issued and outstanding at April 30, 2025 and July 31, 2024 5 5 Class B common stock, $.01 par value; authorized shares-40,000; 14,969 shares issued and 13,228 shares outstanding at April 30, 2025, and 14,866 shares issued and 13,815 outstanding at July 31, 2024 150 149 Additional paid-in capital 49,570 48,263 Accumulated other comprehensive loss (1,545 ) (1,832 ) Accumulated deficit (14,946 ) (13,113 ) Treasury stock, 1,741 shares at April 30, 2025 and 1,051 shares at July 31, 2024, at cost (4,606 ) (2,576 ) Total stockholders' equity 28,628 30,896 Total liabilities and stockholders' equity $ 37,831 $ 38,195 ZEDGE, CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(in thousands, except per share data)(Unaudited) Three Months Ended Nine Months Ended April 30, April 30, 2025 2024 2025 2024 Revenues $ 7,757 $ 7,658 $ 21,930 $ 22,510 Costs and expenses: Direct cost of revenues (excluding amortization of capitalized software and technology development costs which is included below) 452 455 1,360 1,399 Selling, general and administrative 6,343 6,752 20,278 18,773 Depreciation and amortization 225 583 924 2,120 Impairment of intangible assets - - - 11,958 Restructuring charges 577 - 1,058 - Impairment of capitalized software and technology development costs - - 827 - Income (loss) from operations 160 (132 ) (2,517 ) (11,740 ) Interest and other income, net 154 188 507 434 Net loss resulting from foreign exchange transactions (41 ) (80 ) (141 ) (223 ) Income (loss) before income taxes 273 (24 ) (2,151 ) (11,529 ) Income taxes expense (benefit) 88 (137 ) (318 ) (2,397 ) Net income (loss) $ 185 $ 113 $ (1,833 ) $ (9,132 ) Other comprehensive income (loss): Changes in foreign currency translation adjustment 448 (224 ) 287 (341 ) Total other comprehensive income (loss) 448 (224 ) 287 (341 ) Total comprehensive income (loss) $ 633 $ (111 ) $ (1,546 ) $ (9,473 ) Income (loss) per share attributable to Zedge, Inc. common stockholders: Basic $ 0.01 $ 0.01 $ (0.13 ) $ (0.65 ) Diluted $ 0.01 $ 0.01 $ (0.13 ) $ (0.65 ) Weighted-average number of shares used in calculation of income (loss) per share: Basic 13,720 14,191 13,835 14,077 Diluted 13,940 14,542 13,835 14,077 ZEDGE, CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(Unaudited) Nine Months Ended April 30, 2025 2024 Operating activities Net loss $ (1,833 ) $ (9,132 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation 48 42 Amortization of intangible assets 335 1,270 Amortization of capitalized software and technology development costs 541 808 Amortization of deferred financing costs - 15 Stock-based compensation 1,308 1,673 Impairment charge of capitalized software and technology development costs 827 - Impairment charge of intangible assets - 11,958 Impairment of investment in privately-held company - 50 Deferred income taxes (184 ) (2,650 ) Change in assets and liabilities: Trade accounts receivable 87 (442 ) Prepaid expenses and other current assets (353 ) 195 Other assets (54 ) 34 Trade accounts payable and accrued expenses 229 1,073 Deferred revenues 1,797 261 Net cash provided by operating activities 2,748 5,155 Investing activities Capitalized software and technology development costs (329 ) (993 ) Purchase of property and equipment (49 ) (35 ) Net cash used in investing activities (378 ) (1,028 ) Financing activities Prepayment of term loan - (2,000 ) Proceeds from exercise of stock options - 3 Purchase of treasury stock in connection with share buyback program and stock awards vesting (2,030 ) (165 ) Net cash used in financing activities (2,030 ) (2,162 ) Effect of exchange rate changes on cash and cash equivalents 95 (165 ) Net increase in cash and cash equivalents 435 1,800 Cash and cash equivalents at beginning of period 19,998 18,125 Cash and cash equivalents at end of period $ 20,433 $ 19,925 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Cash payments made for income taxes $ 194 $ 80 Cash payments made for interest expenses $ - $ 66 Use of Non-GAAP Measures Adjusted EBITDA, defined as earnings (loss) before interest, taxes, depreciation and amortization, stock compensation expense, transaction-related expenses and other non-recurring expenses, Free Cash Flow, and non-GAAP net income and EPS (which adjust out stock compensation expense, transaction-related expenses and other non-recurring expenses from GAAP net income and EPS), represent measures that we believe are customarily used by investors and analysts to evaluate the financial performance of companies in addition to the GAAP measures we present. Our management also believes these measures are useful in evaluating our core operating results. However, these are not measures of financial performance under GAAP and should not be considered an alternative to net income or operating income/margin as an indicator of our operating performance or to net cash provided by operating activities as a measure of our liquidity. Numbers in the following reconciliation tables may not add due to rounding. Reconciliation of Adjusted EBITDA to Net Income (Loss) Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 FY23 FY24 YTDFY25 Net Income (Loss) $ (0.2 ) $ 1.6 $ (7.7 ) $ 0.2 $ (0.0 ) $ (9.2 ) $ 0.1 $ (0.0 ) $ (0.3 ) $ (1.7 ) $ 0.2 $ (6.1 ) $ (9.2 ) $ (1.8 ) Excluding: Interest and other income (expense), net $ (0.0 ) $ (0.1 ) $ (0.1 ) $ (0.1 ) $ (0.1 ) $ (0.2 ) $ (0.2 ) $ (0.2 ) $ (0.2 ) $ (0.2 ) $ (0.2 ) $ (0.3 ) $ (0.6 ) $ (0.5 ) Income taxes expense (benefit) $ (0.1 ) $ 0.1 $ (0.7 ) $ 0.2 $ 0.2 $ (2.5 ) $ (0.1 ) $ 0.2 $ 0.0 $ (0.5 ) $ 0.1 $ (0.5 ) $ (2.2 ) $ (0.3 ) Depreciation and amortization $ 0.8 $ 0.8 $ 0.9 $ 0.8 $ 0.8 $ 0.8 $ 0.6 $ 0.3 $ 0.4 $ 0.3 $ 0.2 $ 3.3 $ 2.5 $ 0.9 EBITDA $ 0.5 $ 2.4 $ (7.6 ) $ 1.0 $ 0.9 $ (11.1 ) $ 0.4 $ 0.3 $ (0.1 ) $ (2.0 ) $ 0.3 $ (3.6 ) $ (9.5 ) $ (1.7 ) Adjustments: Asset impairments and restructuring charges $ (0.2 ) $ (1.8 ) $ 8.7 $ 0.0 $ 0.0 $ 12.0 $ 0.0 $ 0.0 $ 0.0 $ 1.3 $ 0.6 $ 6.8 $ 12.0 $ 1.9 Stock-based compensation $ 0.6 $ 0.8 $ 0.6 $ 0.6 $ 0.5 $ 0.7 $ 0.5 $ 0.5 $ 0.4 $ 0.6 $ 0.3 $ 2.5 $ 2.1 $ 1.3 Transaction costs related to business combination $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.2 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.2 $ 0.0 Adjusted EBITDA $ 1.0 $ 1.4 $ 1.7 $ 1.6 $ 1.5 $ 1.5 $ 0.9 $ 0.8 $ 0.3 $ (0.1 ) $ 1.2 $ 5.7 $ 4.7 $ 1.5 *numbers may not add due to rounding Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 FY23 FY24 YTDFY25 GAAP Net Income (Loss) $ (0.2 ) $ 1.6 $ (7.7 ) $ 0.2 $ (0.0 ) $ (9.2 ) $ 0.1 $ (0.0 ) $ (0.3 ) $ (1.7 ) $ 0.2 $ (6.1 ) $ (9.2 ) $ (1.8 ) Adjustments: Asset impairments and restructuring charges $ (0.2 ) $ (1.8 ) $ 8.7 $ 0.0 $ 0.0 $ 12.0 $ 0.0 $ 0.0 $ 0.0 $ 1.3 $ 0.6 $ 6.8 $ 12.0 $ 1.9 Stock-based compensation $ 0.6 $ 0.8 $ 0.6 $ 0.6 $ 0.5 $ 0.7 $ 0.5 $ 0.5 $ 0.4 $ 0.6 $ 0.3 $ 2.5 $ 2.1 $ 1.3 Transaction costs related to business combination $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.2 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.2 $ 0.0 Income tax effect on non-GAAP items $ (0.1 ) $ 0.2 $ (1.3 ) $ (0.1 ) $ (0.2 ) $ (2.9 ) $ (0.1 ) $ (0.1 ) $ (0.1 ) $ (0.4 ) $ (0.2 ) $ (1.3 ) $ (3.3 ) $ (0.7 ) Non-GAAP Net Income (Loss) $ 0.2 $ 0.8 $ 0.3 $ 0.6 $ 0.5 $ 0.5 $ 0.5 $ 0.3 $ (0.0 ) $ (0.2 ) $ 0.9 $ 1.9 $ 1.8 $ 0.6 Non-GAAP basic EPS (loss per share) $ 0.01 $ 0.06 $ 0.02 $ 0.04 $ 0.04 $ 0.04 $ 0.03 $ 0.02 $ (0.00 ) $ (0.01 ) $ 0.06 $ 0.13 $ 0.13 $ 0.05 Non-GAAP diluted EPS (loss per share) $ 0.01 $ 0.06 $ 0.02 $ 0.04 $ 0.04 $ 0.04 $ 0.03 $ 0.02 $ (0.00 ) $ (0.01 ) $ 0.06 $ 0.13 $ 0.13 $ 0.05 Weighted average shares used to compute Non-GAAP basic earnings per share 14.3 14.1 14.0 13.9 14.0 14.1 14.2 14.1 14.1 13.9 13.7 14.1 14.1 13.8 Weighted average shares used to compute Non-GAAP diluted earnings per share 14.3 14.3 14.0 13.9 14.0 14.1 14.5 14.5 14.1 13.9 13.9 14.1 14.1 13.8 *numbers may not add due to rounding Free Cash Flow Calculation Q123 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 FY23 FY24 YTD FY25 Cash Flow from Operations $ 1.1 $ 0.0 $ 1.6 $ 0.4 $ 1.3 $ 1.6 $ 2.3 $ 0.7 $ 1.2 $ 0.7 $ 0.9 $ 3.2 $ 5.9 $ 2.7 Capital Expenditures $ 0.3 $ 0.4 $ 0.4 $ 0.3 $ 0.4 $ 0.4 $ 0.2 $ 0.2 $ 0.2 $ 0.1 $ 0.1 $ 1.5 $ 1.2 $ 0.4 Free Cash Flow $ 0.7 $ (0.3 ) $ 1.2 $ 0.1 $ 0.8 $ 1.2 $ 2.1 $ 0.5 $ 1.0 $ 0.6 $ 0.8 $ 1.7 $ 4.7 $ 2.4 SOURCE: Zedge, Inc. 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