Business
Kidoz Inc. Announces Record Full Year 2022 Financial Results with Total Revenue of $15,097,056
VANCOUVER, BC / ACCESSWIRE / April 19, 2023 / Kidoz Inc. (TSXV:KIDZ) (the "Company"), mobile AdT...
About this update from Kidoz Inc
[{"type":"text","content":"Kidoz Inc. Announces Record Full Year 2022 Financial Results with Total Revenue of $15,097,056VANCOUVER, BC / ACCESSWIRE / April 19, 2023 / Kidoz Inc. (TSXV:KIDZ) (the \"Company\"), mobile AdTech developer and owner of the market leading Kidoz Contextual Ad Network ( www.kidoz.net ); and the Kidoz Publisher SDK, announced todayits audited financial results for the year ended December 31, 2022. All amounts are presented in United States dollars and are in accordance with United States Generally Accepted Accounting Principles.Financial highlights from fiscal 2022 include:Total Revenue of $15,097,056 an increase of 21% over fiscal 2021 Total Revenue of $12,484,639Direct Ad Tech Advertising Revenue of $14,425,918 an increase of 18% over Direct Ad Tech Advertising Revenue of $12,194,518 for fiscal 2021.Programmatic Ad Tech Advertising Revenue of $361,394, an increase of 518% over Programmatic Advertising Revenue of $58,507 for fiscal 2021.Sales and Marketing expenditure of $1,039,713, an increase of 62% from $641,393 in fiscal 2021Non-Capitalized R&D expenditures of $2,496,877, an increase of 49% from $1,678,848 in fiscal 2021.Net loss after tax of ($1,347,113), compared to a net loss after tax ($190,321) in fiscal 2021.Adjusted EBITDA of ($231,395) compared to Adjusted EBITDA of $1,507,951 in fiscal 2021.Cash of $2,363,530 and working capital of $4,147,176 as at December 31, 2022, compared to cash of $2,078,607 and working capital of $4,536,852 as at December 31, 2021.Free Cash Flow as at December 31, 2022, of $433,745 compared to Free Cash Flow of $851,533 as at December 31, 2021.For full details of the Company's operations and financial results, please refer to the Securities and Exchange Commission website at www.sec.gov or the Kidoz Inc. corporate website at https://investor.kidoz.net or the www.sedar.com website.\"Kidoz is the market leader in safe mobile media and our investments into our technology and sales teams continue to deliver results,\" stated Jason Williams, Kidoz CEO. \"2022 was executed as we planned, building a business and technology platform that will complement and compete with the global leaders in advertising technology. We outperformed the Ad Tech market in 2022 by securing strong growth in a weak market and maintaining positive free cash flow. Management has identified continued weakness in the global a...