Business
Kidoz Inc. Announces Record Full Year 2021 Financial Results
ANGUILLA, BWI / ACCESSWIRE / March 30, 2022 / Kidoz Inc. (TSXV:KIDZ) (the "Company"), mobile...
About this update from Kidoz Inc
[{"type":"text","content":"Kidoz Inc. Announces Record Full Year 2021 Financial ResultsANGUILLA, BWI / ACCESSWIRE / March 30, 2022 / Kidoz Inc. (TSXV:KIDZ) (the \"Company\"), mobile AdTech developer and owner of the market leading Kidoz Contextual Ad Network (www.kidoz.net); the safe programmatic ad solution \"Kidoz Connect\"; and the Kidoz Publisher SDK, announced todayannounced todayits audited financial results for the year ended December 31, 2021. All amounts are presented in United States dollars and are in accordance with United States Generally Accepted Accounting Principles.Financial highlights from fiscal 2021 include:Total Revenue of $12,475,480 an increase of 75% over fiscal 2020 Total Revenue of $7,148,029Ad Tech Advertising Revenue of $12,243,866 an increase of 81% over Ad Tech Advertising Revenue of $6,748,064 for fiscal 2020.Adjusted EBITDA of $1,507,951 compared to Adjusted EBITDA of $771,236 in fiscal 2020Net income before tax of $26,346, compared to $48,728 in fiscal 2020.Net loss after deferred tax of ($190,321), compared to a net profit of $103,971 in fiscal 2020Cash of $2,078,607 and working capital of $4,536,852 as at December 31, 2021Non Capitalized R&D expenditures of $1,678,848 up from $1,149,902 in fiscal 2020.Our commitment to children's privacy and safety has created one of the fastest growing mobile networks in the world. We continue to invest heavily into our systems and technology to increase our network reach and solidify our position as the market leader. The Kidoz network continues to grow in size and now boasts more than double the SDK app adoption than its closest direct mobile ad competitor. The success of our strategy and technology increases the pace of our technical investments and creates further opportunities to accelerate the speed of our growth as we refine our software and systems.\"Fiscal 2021 saw Kidoz's growth, profitability, and revenues reach new heights,\" said Jason Williams, Kidoz Co-CEO. \"The Company's continued and increasing pace of growth is attributed to potent market and consumer forces both from the wider digital economy and also specific to the Kidoz niche of private, safe, and contextual advertising. One of the key factors driving growth is the ever increasing dominance of mobile usage and mobile entertainment across all age groups. Mobile is consumers' preferred choice for entertainment a...