Highlights
- 2022 revenue was up 21% YoY, but 7% below our estimate. KIDZ’s revenue growth was significantly higher than global digital ad spending growth of 8.6% (Source: eMarketer), and in line with the growth of global digital ad spending to children of 22% (Source: Statista). For comparison, we note that YouTube’s (NASDAQ: GOOGL) ad revenue was up 2%, and Meta’s (NASDAQ: META) ad revenue was down 1% in 2022.
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