IZEA Awarded One Million Dollar Contract Expansion
June 21 2021 - 8:00AM
IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of
influencer marketing technology, data, and services for the world’s
leading brands, announced today that it has been awarded a $1
million contract expansion to provide influencer marketing services
to a Fortune 500 consumer electronics manufacturer. The expansion
adds to an already record setting Q2 for Managed Services bookings.
Bookings are a measure of all sales orders minus
any known cancellations or refunds with respect to such sales
orders or refunds. Management uses bookings to inform expectations
of total sales activity. Bookings are not always an indicator of
revenue for the quarter and could be subject to future adjustment.
Revenue from Managed Services bookings are typically recognized
over a 9-month period on average, though larger contracts may be
recognized over longer periods of time.
IZEA recognizes managed services revenue based on a
percentage of completion.IZEA expects the majority of this
particular contract to be recognized as revenue in Q3 and Q4, with
little to no impact on Q2 revenue recognition.
“Team IZEA has continued to build upon the positive
sales momentum from the past two quarters,” said Ted Murphy,
Founder, Chairman and CEO of IZEA. “We are thrilled to have set a
Managed Services bookings record in Q2, bolstered by a variety of
meaningful customer expansions in the quarter. These expansions are
a reflection of our dedication to providing best-in-class
influencer marketing software and services to our partners.”
To work with IZEA as either an influencer or a
marketer, visit IZEA.com.
About IZEA Worldwide, Inc.IZEA
Worldwide, Inc. (“IZEA”) is a marketing technology company
providing software and professional services that enable brands to
collaborate and transact with the full spectrum of today’s top
social influencers and content creators. The company serves as a
champion for the growing Creator Economy, enabling individuals to
monetize their content, creativity, and influence. IZEA launched
the industry’s first-ever influencer marketing platform in 2006 and
has since facilitated nearly 4 million transactions between online
buyers and sellers. Leading brands and agencies partner with IZEA
to increase digital engagement, diversify brand voice, scale
content production, and drive measurable return on investment.
Safe Harbor StatementAll
statements in this release that are not based on historical fact
are “forward-looking statements” intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements, which
are based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as “may,” “will,” “would,” “could,”
“should,” “expect,” “anticipate,” “hope,” “estimate,” “believe,”
“intend,” "likely," "projects," “plans,” "pursue," "strategy" or
"future," or the negative of these words or other words or
expressions of similar meaning. Examples of forward-looking
statements include, among others, statements we make regarding
expectations concerning IZEA’s ability to increase revenue and
bookings, growth or maintenance of customer relationships, and
expectations concerning IZEA’s business strategy. Forward-looking
statements involve inherent risks and uncertainties which could
cause actual results to differ materially from those in the
forward-looking statements, as a result of various factors
including, among others, the following: bookings failing to produce
corresponding revenue; competitive conditions in the content and
social sponsorship segment in which IZEA operates; failure to
popularize one or more of the marketplace platforms of IZEA; our
ability to establish effective disclosure controls and procedures
and internal control over financial reporting; our ability to
satisfy the requirements for continued listing of our common stock
on the Nasdaq Capital Market; changing economic conditions that are
less favorable than expected; and other risks and uncertainties
described in IZEA’s periodic reports filed with the Securities and
Exchange Commission. The forward-looking statements made in this
release speak only as of the date of this release, and IZEA assumes
no obligation to update any such forward-looking statements to
reflect actual results or changes in expectations, except as
otherwise required by law.
Martin Smith
IZEA Worldwide, Inc.
Phone: 407-674-6911
Email: ir@izea.com
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