Kidoz (KIDZ) Q2 2024 earnings summary

Executive summary

• Q2 2024 revenue reached $2,479,175, up 38% from Q1 2024, driven by strong advertiser demand targeting Generation Alpha.

• Net loss after tax improved to ($385,650), a 46% reduction from Q1 2024.

• Kidoz continues to lead in COPPA & GDPR compliant contextual mobile advertising, serving major brands.

Financial highlights

• Direct Ad Tech Advertising Revenue was $2,335,283, up 38% from Q1 2024.

• Programmatic Ad Tech Advertising Revenue rose 56% to $123,074 compared to Q1 2024.

• Adjusted EBITDA improved to ($236,815) from ($543,289) in Q1 2024.

• Cash stood at $729,829 and working capital at $2,461,257 as of June 30, 2024.

• Free Cash Flow in Q2 2024 was ($742,642) versus $959,506 in the prior year.

Outlook and guidance

• H2 typically accounts for 75% of annual revenue, but 2024 started slower than previous years.

• Management anticipates the largest Q4 in company history due to pent-up advertising demand.

• Recent COPPA 2.0 approval expected to strengthen Kidoz's market position.