Business
Kidoz Inc. Announces Record Full Year 2020 Financial Results
ANGUILLA, BWI / ACCESSWIRE / March 31, 2021 / Kidoz Inc. (TSXV:KIDZ) (the "Company"), AdTech...
About this update from Kidoz Inc
[{"type":"text","content":"Kidoz Inc. Announces Record Full Year 2020 Financial ResultsANGUILLA, BWI / ACCESSWIRE / March 31, 2021 / Kidoz Inc. (TSXV:KIDZ) (the \"Company\"), AdTech software developer and owner of the KIDOZ Safe Ad Network (www.kidoz.net), the KIDOZ Kid-Mode Operating System, the KIDOZ publisher SDK, and the Rooplay edu-games platform, announced today its audited financial results for the year ended December 31, 2020. All amounts are presented in United States dollars and are in accordance with United States Generally Accepted Accounting Principles.Recent Kidoz Inc. 2020 highlights include:Fiscal 2020 Total Revenue of $7,148,029 - growth of 58% over fiscal 2019 Total Revenue of $4,517,379Fiscal 2020 Profit of $103,971, compared to loss of ($14,654,232) in fiscal 2019Fiscal 2020 EBITDA of $880,550 compared to EBITDA loss of ($779,966) in fiscal 2019Cash of $1,226,045 and working capital of $3,071,545 as at December 31, 2020.Kidoz owns and develops the leading kid-focused advertising network that compliantly reaches kids and families on mobile devices - 300+ million users worldwide. In 2020, Kidoz secured a leadership position in Safe Mobile Advertising for the kids and pre-teen markets. As mobile is increasingly the dominant entertainment platform used by kids of all ages, Kidoz is experiencing record user growth and advertiser demand. Advertisers can no longer reach children effectively on broadcast television and have increased both the frequency and size of advertising campaigns with Kidoz.\"2020 saw Kidoz succeed amongst a global shift in consumer and commercial behaviours,\" stated Jason Williams, Kidoz Co-CEO. \"Our strategies, teams, and products have proven to be successful in the wider advertising ecosystem and Kidoz technology now reaches hundreds of millions of kids and families every month. Mobile continues to grow and Kidoz's proprietary products are only beginning to show their potential in the high-growth global market of in-app advertising\".\"For 2021, Kidoz is well positioned to continue to increase market share and continue on a path of growth,\" commented Eldad Ben Tora, Kidoz Co-CEO. \"As a new age of digital advertising begins, free of IDFA and other persistent trackers, Kidoz stands to benefit as our systems were built to perform completely free of data tracking and other invasive data dependencies. Presently, only a...