U.K.-based media localization firm, ZOO Digital Group, experienced a significant 31% drop in share price this week due to the ongoing U.S. writers' strikes. Despite this setback, the company is predicting a revenue of $21 million for H1 2024 ending September 30.
Amid these challenges, ZOO has maintained its financial stability with a net cash of $16 million. In an effort to balance its financial books, the company is focusing on cost reductions with an aim to break-even by Q4.
The completion of ZOO's acquisition with its Japanese partner has been deferred until order levels resume normalcy. The company remains optimistic about its future growth, driven by the structural demand for international and multilingual content.
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