Business
Kidoz Inc. Record Quarterly Revenue Growth Continues with Q3 2022 Total Revenue of US$3,505,812
ANGUILLA, BWI / ACCESSWIRE / November 14, 2022 / Kidoz Inc. (TSXV:KIDZ) (the "Company"), mob...
About this update from Kidoz Inc
[{"type":"text","content":"Kidoz Inc. Record Quarterly Revenue Growth Continues with Q3 2022 Total Revenue of US$3,505,812ANGUILLA, BWI / ACCESSWIRE / November 14, 2022 / 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 today its unaudited financial results for the third quarter ended September 30, 2022. All amounts are presented in United States dollars and are in accordance with United States Generally Accepted Accounting Principles. The following should be read in conjunction with the Q3 2022 Form 10 -Q Result of Operations and the unaudited consolidated financial statements of Kidoz Inc. which are available on our website Kidoz.net and SEDAR at www.sedar.com.Kidoz Inc. Q3 2022 highlights include:Total Revenue of $3,505,812 up 25% from Q3 2021 Total Revenue of $2,814,642 and up 39% fromQ2 2022 Total Revenue of $2,513,613.Q3 2022 AdTech revenue of $3,454,824 compared to Q2 2022 AdTech Revenue of $2,484,799.Q3 2022 Gross Profit of $1,245,570 compared to Q2 2022 Gross Profit of $971,966.Q3 2022 loss of ($343,774) from a loss of ($721,677) in Q2 2022.Q3 2022 Adjusted EBITDA gain of $4,435 compared to Q2 2022 Adjusted EBITDA loss of ($386,987).Cash of $1,830,262 and working capital of $3,770,593 as at September 30, 2022.Current Ratio of 2.57 as at September 30, 2022 compared to a Current Ratio of 2.06 as at December 30 2021.Generated Cash of $113,749 in operating activities compared to cash used of $359,077 in Q3 2021.Retains 2022 Revenue guidance of US$16M to US$18M, representing approximately 35% YoY growth.Overview:Kidoz is a leader in the kids safe advertising market through continued investments into research and development. Mobile devices are the primary tool used for all digital activities in everyday life across the entire world. The predominance of mobile is well established and Kidoz is well positioned to benefit from the wide adoption of its technology across thousands of popular apps. As the number of active campaigns live on Kidoz has increased substantially over the past 18 months, Kidoz has recruited hundreds of new apps and developers that focus on a wide range of audience segments. As a result of Kidoz's rapid growth, the Company is now able to expand beyond its core advertising audience of children and begin ...