Business
Kidoz Inc. Announces Q1 2020 Results
ANGUILLA, BWI / ACCESSWIRE / May 28, 2020 / Kidoz Inc. (TSXV:KIDZ) (the "Company"), kid-tech...
About this update from Kidoz Inc
[{"type":"text","content":"Kidoz Inc. Announces Q1 2020 ResultsANGUILLA, BWI / ACCESSWIRE / May 28, 2020 / Kidoz Inc. (TSXV:KIDZ) (the \"Company\"), kid-tech software developer, owner of the KIDOZ Safe Advertising Network (www.kidoz.net), the KIDOZ Kid-Mode Operating System, the KIDOZ publisher SDK, and the Rooplay edu-games platform (www.rooplay.com), announced today its unaudited financial results for the first quarter ended March 31, 2020. All amounts are presented in United States dollars and are in accordance with United States Generally Accepted Accounting Principles.Recent Kidoz Inc. highlights include:Revenue increase to $983,979 for the first quarter of fiscal 2020.Cash of $545,512 and working capital of $1,927,546 at March 31, 2020.Development of Kidoz Programmatic SystemsLaunch of Kidoz System Support to Google's New Teacher Approved ProgramPlatform Growth to Record Usage Levels of DAU and MAU\"The first quarter of 2020 started well for Kidoz,\" stated Eldad Ben Tora, Co-CEO. \"We saw strong bookings domestically and internationally across our product lines and demand from our publisher network was excellent as Kidoz offers a unique monetization service in the market. We continue to increase the number of active developer publisher partners and applications on our system given that Kidoz is one of the only ad SDKs and networks both certified by Google and approved by Apple for apps in the Kids section of the App Store.\"\"As the market continues to advance technically, we are seeing an increase in campaign volume from programmatic sources and have been investing heavily in our server and SDK technology to ensure we capture these digital advertising opportunities each time they arise,\" stated Jason Williams, Co-CEO. \"We have launched a new programmatic bidder-server that will become the new core of our server system and allow Kidoz to integrate with any open-real-time-bidding system that creates the demand and supply structure of modern advertising technology. As the under-13 kids market continues to increase in size and importance for advertisers, Kidoz is able to solidify its position and leadership in the market,\" continued Williams.\"As the Covid-19 situation unraveled globally in the second half of the quarter we saw record levels of usage on the Kidoz platform with daily active users above nine million for the first time in the Company'...