Kidoz Inc. Announces unaudited 2023 results Kidoz Inc./ TSXV: KIDZ
PR Title : Announces unaudited 2023 results
FRC Opinion: Mixed – 2023 revenue was down 12% YoY to $13M, missing our estimate by 8%, primarily due to clients delaying ad campaigns, and a strategic shift in KIDZ’s sales strategy from relying exclusively on resellers to prioritizing direct sales. The latter resulted in increased gross margins. As a result, EBITDA improved from -$0.8M to -$0.7M, beating our estimate of -$1.2M. We will publish a detailed update once the audited financials are released later this month.
*FRC provides issuer paid coverage.
*Past performance is not indicative of future results