Business
Kidoz Inc. Announces Q2 2019 Results
ANGUILLA, B.W.I. / ACCESSWIRE / August 14, 2019 / Kidoz Inc. (TSXV:KIDZ) (previously Shoal...
About this update from Kidoz Inc
[{"type":"text","content":"Kidoz Inc. Announces Q2 2019 ResultsANGUILLA, B.W.I. / ACCESSWIRE / August 14, 2019 / Kidoz Inc. (TSXV:KIDZ) (previously Shoal Games Ltd.) (the \"Company\"), kid-tech software developer, owner of the KIDOZ content discovery network, the KIDOZ Kid-Mode Operating System (www.kidoz.net), the Rooplay edu-games platform (www.rooplay.com), and publisher of the Rooplay Originals games library, announced today its unaudited financial results for the second quarter ended June 30, 2019. 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 $818,286 for the second quarter of fiscal 2019Quarterly loss reduced to $398,296 from $826,304 in the first quarter of fiscal 2019Completed Company name change to Kidoz Inc.Changed TSX Venture Exchange stock ticker symbol to KIDZImplemented the Direct Registration System (DRS) service for shareholdersCertified by Google as a Kid Safe Network\"Securing positive growth in both our business units, AdTech and Content, is an exciting milestone for the Company,\" commented Jason Williams, KIDOZ Co-CEO. \"We have successfully integrated our teams in Israel, Canada, and the UK to maximize all potential synergies and minimize costs through a number of strategic restructuring decisions to optimize the resources of the company. The company is aligned behind the common goal of platform growth by expanding our global AdTech and Content businesses and building on the sales channel relationships working with the KIDOZ brand. We have secured new sales partners in Germany, Italy, India, the Nordics and many more regions as the digital budgets of advertisers continue to increase and the high performance of the KIDOZ in-app network is recognized by marketers. Growth of the KIDOZ network is propelled by consumer behaviour, advertiser demand, and the increased regulation that ensures advertising to kids be safe, secure and relevant. Google recently certified KIDOZ as a kid safe network which has increased demand from advertisers and publishers thus increasing our scale. The digital segment of kids advertising is projected by PwC to grow at more than 20% per year until 2021 and KIDOZ management believes that the Company is in the ideal place to capture a large portion of the increase in glob...