IZEA Managed Services Bookings Reach 187% Growth in Q2 to Hit All-Time Record of $11.1 Million
July 07 2021 - 10:00AM
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 set a Managed Services
bookings record for the best quarter in company history. Managed
Services bookings in Q2 of 2021 increased 187% to $11.1 million as
compared to Q2 of 2020, which were $3.9 million. IZEA added a
variety of new influencer marketing customers within the quarter,
including multiple Fortune 500 brands. IZEA also saw strong repeat
business from existing customers, including three Fortune 10
companies. The announcement comes just one quarter after IZEA set a
record for its best Q1 Managed Services bookings ever, which were
$6.4 million.
“Team IZEA has been laser
focused on customer growth and we are seeing the direct results of
investments made throughout the organization,” said Ted Murphy,
IZEA’s Chairman and CEO. “Our commitment to providing the best
technology and customer experience is being rewarded with repeat
business from existing customers as well as material wins from
major brands we have long sought after.”
“Our total active
software customer base reached record numbers in Q2 and have more
than doubled since June of last year,” continued Murphy. “We added
multiple leading brands as software customers including the world’s
largest CPG company, and many challenger brands and agencies as
well. Software customer counts were largely driven by IZEAx
Discovery, our powerful and affordable influencer discovery tool.
We are still in the middle of our SaaS pricing transition with
openly published lower fees for all our customers to offer
industry-leading cost-to-value. Our aggressive pricing changes for
Unity Suite went into effect at the end of Q3 of 2020 and we are
nearly through all of those adjustments for existing
customers.”
Bookings are a measure of
all sales orders minus any known cancellations or refunds in the
same time period 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’s net income and
cash flow results will be announced along with the rest of the
company’s financial performance when it announces Q2 earnings,
which is tentatively scheduled for August 12, 2021. IZEA’s Managed
Services bookings represent only one measure of the company’s
financial performance and should not be relied on as an indicator
of quarterly financial results, which depend on a variety of
factors - including the amount of revenue recognized within the
quarter, the cost of sales, and other operating expenses.
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: 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.
- IZEA Managed Services Bookings Hit All-Time Record in Q2
Martin Smith
IZEA Worldwide, Inc.
Phone: 407-674-6911
Email: ir@izea.com
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