Business
Kidoz Inc. Revenue of US$2,808,354 in Q3 2023
VANCOUVER, BC / ACCESSWIRE / November 28, 2023 / Kidoz Inc. (TSXV:KIDZ) (the "Company"), mobile ...
About this update from Kidoz Inc
[{"type":"text","content":"Kidoz Inc. Revenue of US$2,808,354 in Q3 2023VANCOUVER, BC / ACCESSWIRE / November 28, 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 unaudited condensed interim financial results for the quarter ended September 30, 2023. All amounts are presented in United States dollars and are in accordance with United States Generally Accepted Accounting Principles.\"In Q3 2023, we recorded revenue of $2,808,354, a figure that reflects our resilient performance amidst a challenging global economic landscape,\" stated Jason Williams, Kidoz CEO. \"This period witnessed a cautious trend in digital media spending, influenced by global market uncertainties and fluctuating interest and inflation rates putting pressure on consumer spending. Despite these factors, Kidoz has effectively managed its operations, maintaining strong relationships with our clients. While some anticipated campaigns were rescheduled, we see these not as missed opportunities but as potential growth avenues for 2024\" said Williams.\"Furthermore, 2023 marked a significant strategic evolution for Kidoz, as we transitioned towards a more robust, direct in-house sales model in America, advancing from our previous agency sales representation strategy. This strategic progression represents a significant investment in our long-term vision. While such a transition naturally unfolds over time, the early indications are highly encouraging. Our team is now engaging with an unprecedented number of brands and agencies, demonstrating the strength and potential of our new approach. We are confident that this refined sales strategy in North America will usher in a period of growth and an enhanced market footprint for Kidoz starting in 2024.\"\"Kidoz is the leader in COPPA media. We are the technical backbone of the industry for kid-safe in-app media. When the company was under agency representation agreements, it was more difficult to communicate the advantages of our platform as we did not have deep relationships with important brands. In 2023, as a result of these better relationships with leading brands, they now have a better understanding of our role as the critical path for COPPA compliance. This, combined with our improved technical ca...