Kidoz Inc.

What they do

Kidoz builds and maintains the Kidoz SDK, which app developers install into mobile apps so the company can sell advertising impressions. Its advertising system is designed to be compliant with the Children's Online Privacy Protection Rule (COPPA) and the General Data Protection Regulation (GDPR), and does not use location or personally identifiable information tracking. The network places brand advertising across thousands of mobile apps, websites and video channels, targeting children, teens and families.

Revenue drivers

• Kidoz Contextual Ad Network — The core advertising network that connects brands to mobile app inventory, including a direct sales effort with brand partners. It is described as the company's principal offering and the basis of revenue.
• Kidoz SDK and Programmatic Network — The Kidoz SDK is installed by app developers and enables access to advertising impressions; the programmatic network monetizes those impressions. These products are described as essential to the digital advertising ecosystem.
• Contextual targeting tools — Proprietary tools that allow brands to reach audiences by context rather than by using location or personally identifiable information, supporting the network's privacy-compliant positioning.
• Expansion beyond children's audience — The company is extending its media offering to contextually target teens and parents for brand partners, which broadens the addressable inventory beyond its core children's audience.

Recent performance

Annual revenue rose from $12.5 million in 2021 to $15.1 million in 2022, fell to $13.3 million in 2023, then increased to $14.0 million in 2024 and $18.4 million in 2025. Net income was negative in 2021 ($190,321 loss), 2022 ($1.3 million loss) and 2023 ($2.0 million loss), before turning positive in 2024 ($353,140) and 2025 ($456,817). Operating cash flow was positive in 2021 ($851,533) and 2022 ($433,745), negative in 2023 ($823,640), and positive in 2024 ($1.3 million) and 2025 ($1.7 million). Recent quarterly revenue was $2.7 million in Q1 2025, $2.4 million in Q2 2025, $3.7 million in Q3 2025 and $9.6 million in Q4 2025. At December 31, 2025, total assets were $13.2 million, total liabilities $4.5 million, shareholder equity $8.6 million and cash and equivalents $4.5 million.

Strategy

Kidoz states it has established its leadership position through continued investments in research and development. It emphasizes its privacy-compliant technology as regulation and enforcement by Google, Apple and governments increase. The company says it has recruited hundreds of new apps and developers over the past 18 months as active campaigns increased. It is now expanding beyond its core children's audience to contextually target teens and parents for brand partners. Management describes extending its media offering beyond children as the first step in leveraging the scale of its network.

Risks

• Limited operating history and unpredictable revenue — The company cites its limited operating history and the unpredictability of future revenues as specific risks in its forward-looking statements.
• Need for capital resources — The company identifies its need for and the availability of capital resources as a risk factor in both its 20-F and 10-Q filings.
• Evolving business model — The company flags the evolving nature of its business model as a risk, alongside risks associated with systems development, management of growth and business expansion.
• Regulatory and platform dependence — Kidoz's advertising technology depends on compliance with COPPA, GDPR-K and other regulations, and on certification by Google and Apple, which can change their rules for the children's advertising segment.

Outlook

Management states that Kidoz is the market leader in contextual mobile advertising and that the segment is only beginning to develop as new rules and stricter regulations are enacted and enforced by Google, Apple and governments. The company believes it is well positioned to benefit from wide adoption of its technology across thousands of popular apps as mobile device usage remains predominant. It says extending its media offering beyond children is the first step it is taking with its sales and agency partners. The filings do not provide specific financial guidance or targets.