Kidoz Inc has reported second-quarter 2021 revenue of nearly US$2.2 million, a 196% year-over-year increase, boosted by a 247% surge in sales of the company’s core AdTech products.
Kidoz also recorded 2Q earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$48,079, a 124% improvement from an EBITDA loss of ($197,057) from the same period last year.
“The powerful revenue growth in our core AdTech products of 247% over 2020 and 41% over Q1 2021 is a result of Kidoz's leadership position and quality media offering that our customers demand in ever increasing volumes,” Kidoz Co-CEO Eldad Ben Tora said in a statement.
READ: Kidoz sees record 2Q network growth driven by consumers in digital economy and niche contextual advertising
“As the Kidoz brand continues to build in the global AdTech economy and as our latest software products are released, management believes our trajectory of growth will continue,” Ben Tora added.
Kidoz Co-CEO Jason Williams also commented, stating: “Kidoz is on a record pace for its 2021 performance and the entire company is focused on the upcoming busy season when advertisers want to reach children, teens and families at enormous scale during the back-to-school and holiday periods. The Company is committed to achieving our product development and financial goals for the year.”
The company noted that it ended the quarter with cash of $1,553,626 and working capital of $2,948,809 as of June 30, 2021.
Kidoz owns a mobile advertising network that safely reaches hundreds of million kids, teens, and families every month.
Compliant with all national and international regulations (COPPA & GDPR) in relation to child safety, global advertisers work with Kidoz to target and reach their customers.
Contact Sean at sean@proactiveinvestors.com