Kidoz Inc. Reports Q3 2024 Financial Results with Revenue Decline but Improved Losses

Kidoz Inc., a mobile AdTech developer, released its unaudited financial results for Q3 2024. Key figures show a revenue of $2,287,776, down 19% from Q3 2023. Direct Ad Tech advertising revenues fell 16%, and programmatic Ad Tech revenues dropped 29%. Despite the revenue downturn, Kidoz managed to increase its gross profit by 15% to $1,208,564.

The company reported a notable 47% reduction in net loss after tax, narrowing it to $406,284. Adjusted EBITDA also showed improvement, recording a loss of $256,822 compared to $471,051 in the previous year.

CEO Jason Williams expressed optimism for future performance, highlighting the company's strategic advancements and enhanced capabilities. The company's focus on direct brand relationships and regulatory changes are expected to bolster future growth and profitability.